Energy XXI (Bermuda) Ltd.
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our historical consolidated ratio of earnings to fixed charges for the periods shown:
Year Ending June 30, 2007 (unaudited) | Period from inception (July 25 2005) to June 30, 2006 (unaudited) | Six Months Ending December 31, 2007 (unaudited) | Six Months Ending December 31, 2006 (unaudited) | ||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 1.61x | 2.09x | 1.24x | 1.75x | |||||||||
For purposes of computing the ratio of earnings to fixed charges, earnings is defined as pre-tax income plus fixed charges. Fixed charges consist of interest expense and amortization of deferred financing fees.
Calculation of Ratio of Earnings to Fixed Charges, as Defined (in thousands, except ratio of earnings to fixed charges):
Year Ending June 30, 2007 (unaudited) | Period from inception July 25 2005 to June 30, 2006 (unaudited) | Six Months Ending December 31, 2007 (unaudited) | Six Months Ending December 31, 2006 (unaudited) | ||||||||||
| Earnings: | |||||||||||||
| Pre-Tax Income | 36,795 | 8,669 | 12,857 | 20,329 | |||||||||
| Fixed Charges | 60,330 | 7,933 | 53,630 | 27,007 | |||||||||
| Total Earnings | 97,125 | 16,602 | 66,487 | 47,336 | |||||||||
| Fixed Charges: | |||||||||||||
| Interest expensed | 53,285 | 7,439 | 51,056 | 21,334 | |||||||||
| Deferred financing fees | 7,045 | 494 | 2,574 | 5,673 | |||||||||
| Total Fixed Charges | 60,330 | 7,933 | 53,630 | 27,007 | |||||||||
| Ratio of Earnings to Fixed Charges | 1.61 | 2.09 | 1.24 | 1.75 | |||||||||