Pride International (PDE) 10-K/A 2004 FY Annual report (amended)

Exhibit 12

Ratio of Earnings to Fixed Charges Computation
(in thousands except ratio of earnings to fixed charges)

	Year Ended December 31,
	2004			2003			2002			2001			2000
	(Restated)(1)			(Restated)(1)			(Restated)(1)			(Restated)(1)			(Restated)(1)
Earnings:
Income from continuing operations before income taxes and minority interest	$	113,756		$	104,475		$	337		$	137,463		$	91,503
Portion of rents representative of interest expense		6,096			5,914			3,006			6,104			5,107
Interest on indebtedness, including amortization of deferred loan costs		103,292			116,027			124,043			126,523			111,910
Amortization of capitalized interest		3,728			3,596			3,613			3,090			2,962
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges		(3,825	)		(2,775	)		(2,132	)		(2,014	)		(955	)
Earnings, as adjusted	$	223,047		$	227,237		$	128,867		$	271,166		$	210,527
Fixed Charges
Portion of rents representatives of interest expense	$	6,096		$	5,914		$	3,006		$	6,104		$	5,107
Interest on indebtedness, including amortization of deferred loan costs		103,292			116,027			124,043			126,523			111,910
Capitalized interest		1,200			1,207			1,900			19,032			11,200
Total fixed charges	$	110,588		$	123,148		$	128,949		$	157,659		$	128,217
Ratio of earnings to fixed charges		2.02x			1.85x			(2	)		1.79x			1.64x

(1)	Results previously reported for years ended December 31, 2004, 2003, 2002, 2001 and 2000 have been restated as disclosed in Note 2 to the Consolidated Financial Statements.
(2)	For the year ended December 31, 2002, earnings were inadequate to cover fixed charges by approximately $80,000.