SilverBow Resources Operating S-4 Registration of securities issued in business combination transactions

EXHIBIT 12.1

Swift Energy Company

Computation of Ratio of Earnings to Fixed Charges

	Twelve Months Ended December 31,
	2007			2008			2009			2010			2011
GROSS G&A		73,453			86,212			69,987			73,268			87,826
NET G&A		34,182			38,673			34,046			36,359			45,362
INTEREST EXPENSE, NET		28,082			31,079			30,663			33,437			35,566
RENTAL & LEASE EXPENSE		2,952			2,947			3,973			5,181			5,642
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND CHANGE IN ACCOUNTING PRINCIPLE		244,556			(412,758	)		(64,617	)		74,308			135,104
CAPITALIZED INTEREST		9,545			8,037			6,107			7,408			7,667
CALCULATED DATA
EXPENSED OR NON-CAPITAL G&A (%)		46.54	%		44.86	%		48.65	%		49.62	%		51.65	%
NON-CAPITAL RENT EXPENSE		1,374			1,322			1,933			2,571			2,914
1/3 NON-CAPITAL RENT EXPENSE		458			441			644			857			971
FIXED CHARGES		38,085			39,557			37,414			41,702			44,204
EARNINGS		273,096			(381,238	)		(33,310	)		108,602			171,641
RATIO OF EARNINGS TO FIXED CHARGES		7.17			—			—			2.60			3.88

For purposes of calculating the ratio of earnings to fixed charges, fixed charges include interest expense, capitalized interest, amortization of debt issuance costs and discounts, and that portion of non-capitalized rental expense deemed to be the equivalent of interest. Earnings represents income before income taxes and cumulative effect of change in accounting principle before interest expense, net, and that portion of rental expense deemed to be the equivalent of interest. Due to the $754.3 million non-cash charge incurred in the fourth quarter of 2008, and the $79.3 million non-cash charge incurred in the first quarter of 2009, both caused by a write-down in the carrying value of oil and gas properties, 2008 earnings were insufficient by $420.8 million, and 2009 earnings were insufficient by $70.7 million, to cover fixed charges in these periods.