EXHIBIT 12.1


                         GOTHIC PRODUCTION CORPORATION
               SELECTED HISTORICAL AND PRO FORMA FINANCIAL DATA
   COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
                                (in thousands)

 
 
                                                         YEARS ENDED DECEMBER 31,
                                        -------------------------------------------------------
                                              HISTORICAL                       PRO FORMA
                                        ---------------------          ------------------------
                                          1996          1997                    1997            
                                        -------       -------          ------------------------
                                                                        Gothic         Company 
                                                                       --------        -------- 
                                                                                  
Loss before income taxes                                                                         
   and extraordinary item               $(4,508)      $(3,677)         $(11,529)       $ (2,934)
Add:
   Interest on indebtedness               1,460         6,996            25,850          25,850
   Non cash interest on indebtedness        ---           ---             8,400             ---
   Amortization of debt
       discount and financing
       costs                                 69         1,804             1,631           1,436
                                       --------      --------         ---------       ---------
Income as adjusted                       (2,979)        5,123            24,352          24,352
Fixed Charges:
   Interest on indebtedness               1,460         6,996            25,850          25,850
   Non cash interest on indebtedness        ---           ---             8,400             ---
   Amortization of debt
       discount and financing
       costs                                 69         1,804             1,631           1,436
   Preferred dividends                    1,173           264             7,886             ---
                                       --------      --------         ---------       ---------
                                        $ 2,702        $9,064          $ 43,767        $ 27,286
Ratio of earnings to fixed
   charges                                  ---           0.6               0.6             0.9
                                       ========      ========         =========       =========
Insufficiency of earnings to
   cover fixed charges                  $(5,681)      $(3,941)         $(19,415)        $(2,934)
                                       ========      ========         =========       =========