Ranger Oil (ROCC) 10-Q 2006 Q2 Quarterly report

Exhibit 12.1

Penn Virginia Corporation and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

	Years Ended December 31,										Six Months Ended June 30, 2006
	2001		2002		2003		2004		2005
Earnings
Pre-tax income *	$	54,271	$	29,705	$	55,987	$	72,779	$	130,918	$	83,622
Fixed charges		4,058		4,068		8,379		11,067		20,755		12,654
Total earnings	$	58,329	$	33,773	$	64,366	$	83,846	$	151,673	$	96,276
Fixed Charges
Interest expense **	$	3,596	$	3,125	$	7,352	$	9,679	$	18,815	$	11,233
Rental interest factor		462		943		1,027		1,388		1,940		1,421
Total fixed charges	$	4,058	$	4,068	$	8,379	$	11,067	$	20,755	$	12,654
Ratio of earnings to fixed charges		14.4x		8.3x		7.7x		7.6x		7.3x		7.6x

* Excludes equity earnings from investees and includes capitalized interest.

** Includes capitalized interest.