SilverBow Resources Operating S-3ASR Automatic shelf registration

EXHIBIT 12

Swift Energy Company

Ratio of earnings to fixed charges

	Three Months Ended
	March 31,			Year Ended December 31,
	2007			2006			2005			2004			2003			2002
Gross G&A	$	20,347,591		$	72,400,642		$	51,676,164		$	37,850,281		$	29,803,405		$	26,074,408
Net G&A		8,529,290			31,316,644			22,176,362			17,787,125			14,097,066			10,564,849
Interest Expense, Net		6,745,899			23,581,663			24,873,401			27,643,108			27,268,524			23,274,969
Rent Expense		792,212			2,637,345			2,964,611			2,375,598			2,173,313			1,923,451
Net Income Before Taxes and Cumulative Effect of Change in Accounting Principle		42,733,614			262,286,165			178,439,551			101,440,242			50,739,178			18,408,289
Capitalized Interest		2,504,758			9,210,883			7,199,069			6,489,763			6,835,983			6,973,480
Calculated Data
Unallocated G&A (%)		41.92	%		43.25	%		42.91	%		46.99	%		47.30	%		40.52	%
Non-Capital Rent Expense	$	332,079		$	1,140,774		$	1,272,236		$	1,116,374		$	1,027,981		$	779,345
1/3 Non-Capital Rent Expense		110,693			380,258			424,079			372,125			342,660			259,782
Fixed Charges		9,361,350			33,172,804			32,496,549			34,504,996			34,447,167			30,508,231
Earnings		49,590,206			286,248,086			203,737,031			129,455,475			78,350,362			41,943,040
Ratio of Earnings to Fixed Charges		5.30			8.63			6.27			3.75			2.27			1.37

For purposes of calculating the ratio of earnings to fixed charges, fixed charges include interest expense net (which includes amortization of debt issuance costs and discounts), capitalized interest and that portion of non-capitalized rental expense deemed to be the equivalent of interest. Earnings represent income before income taxes and cumulative effect of change in accounting principle and from continuing operations before fixed charges.

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