American Noble Gas (AMNI) 10-Q/A 2005 Q1 Quarterly report (amended)

EXHIBIT 99.1

CALCULATION OF THE MAXIMUM NOTES BALANCE AT MARCH 31, 2005
UNDER THE SENIOR SECURED NOTES FACILITY DATED JANUARY 13, 2005

I. Lesser of:
A. the product of:
1. the Free Cash Flow Multiple		9.5x
Multiplied by
2. Services Business Free Cash Flow	$	5,481
				$	52,070
Or
B. the product of:
x. 2.0 times		2.0x
multiplied by
y. Services Business Revenue	$	16,595
				$	33,191
II. Lesser of
1. 50% of the results of the immediately preceding clause (I)				$	16,595
Or
2. 30% of the Company’s After-tax PV10				$	7,114
III. 10% of the Company’s After-tax PV10				$	2,371
Maximum Notes Balance = (I) + (II) + (III)				$	42,676
Aggregate Notes Outstanding at Determination Date				$	30,000
Company’s After-tax PV10 as of 12/31/04				$	23,712
Services Business Revenue {Section 2(a)(xxxx)}				$	16,595
Services Business operating income	$	4,106
Services Business depreciation and amortization expense		1,375
Less: Any net operating income from affiliates		—
(A) Services Business net operating income before interest, taxes,				$	5,481
(B) Aggregate interest paid on permitted indebtedness					340
Services Business capital expenditures	$	3,224
Less: Issuances of stock by Infinity, less costs		(9,265	)
		0
Less: Aggregate interest expense		(340	)
Services Business capital expenditures, not funded		(340	)		(340	)
Services Free Cash Flow {Section 2(a)(xxxix)}				$	5,481

34