Petroquest Energy (PQ) S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Ratio of Earnings to Fixed Charges

	Six Months							For the years ended
	2005			2004			2004			2003			2002			2001			2000
Fixed Charges:
Interest Exp (1)		3,246			1,346			2,817			579			278			2,111			78
Capitalized Interest		752			384			883			451			619			1,001			439
Total		3,998			1,730			3,700			1,030			897			3,112			517
Earnings:
Pre-Tax Income		12,387			11,382			24,859			4,481			3,595			17,056			9,074
Fixed Charges		3,998			1,730			3,700			1,030			897			3,112			517
Less:
Capitalized Interest		(752	)		(384	)		(883	)		(451	)		(619	)		(1,001	)		(439	)
Total		15,633			12,728			27,676			5,060			3,873			19,167			9,152
Ratio		3.91			7.36			7.48			4.91			4.32			6.16			17.70

(1) Six months 2005 excludes $2.4 million of deferred financing costs written-off in connection with the termination of our sub-debt credit facility.