Copano Field Services/South Texas POSASR Automatic shelf registration (post-effective amendment)

Exhibit 12.1

Copano Energy, L.L.C. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(In Thousands)

	Nine Months
	Ended
	September 30,			Year Ended December 31,
	2007			2006			2005			2004			2003			2002
Earnings:
Net Income (loss)	$	41,677		$	65,114		$	30,352		$	(915	)	$	(4,717	)	$	(1,641	)
Income taxes		1,182			—			—			—			—			—
Equity in (earnings) loss from unconsolidated affiliates		(2,019	)		(1,297	)		(927	)		(419	)		127			584
Pre-tax income (loss) from continuing operations		40,840			63,817			29,425			(1,334	)		(4,590	)		(1,057	)
Fixed charges		19,339			34,011			20,658			23,352			13,114			8,682
Amortization of capitalized interest		54			38			4			4			4			4
Distributed income from unconsolidated affiliate		2,888			—			—			—			—			145
Capitalized interest		(676	)		(693	)		—			—			—			—
Preferred equity distributions		—			—			—			—			(810	)		(2,194	)
Earnings for ratio calculation	$	62,445		$	97,173		$	50,087		$	22,022		$	7,718		$	5,580
Fixed charges:
Interest and other financing costs	$	18,314			32,904		$	20,461		$	23,160		$	12,108		$	6,360
Capitalized interest		676			693			—			—			—			—
Interest portion of operating leases		349			414			197			192			196			128
Preferred equity distributions		—			—			—			—			810			2,194
Total fixed charges	$	19,339		$	34,011		$	20,658		$	23,352		$	13,114		$	8,682
Ratios of earnings to fixed charges		3.2x			2.9x			2.4x			—			—			—

For purposes of computing the ratios of earnings to fixed charges, earnings consist of pre-tax income from continuing operations before equity in (earnings) loss from unconsolidated affiliates plus fixed charges, amortization of capitalized interest and distributions from equity investees less capitalized interest and preference equity distributions. Fixed charges consist of interest expensed and capitalized, distributions on preference units and the estimated interest component of rent expense. Earnings were inadequate to cover fixed charges for the years ended December 31, 2004, 2003 and 2002 by $1.3 million, $5.4 million and $3.1 million, respectively.