EXHIBIT 21 CASTLE ENERGY CORPORATION LISTING OF PARENT AND SUBSIDIARIES AS OF DECEMBER 1, 2004 COMPANY'S RELATIONSHIP OWNERSHIP ENTITY TO COMPANY BUSINESS PERCENTAGE - --------------------------------------- ------------ ---------------------------------- ---------- Parent: Castle Energy Corporation Parent Holding company N/A Refining: Indian Oil Company Subsidiary Inactive 100% Indian Refining I. L.P. ("IRLP") Subsidiary- Inactive 100% Limited Partnership Indian Refining & Marketing I Inc. Subsidiary General Partner of IRLP - inactive 100% Castle Texas Production L.P. Subsidiary- Oil and gas production - inactive 100% Limited Partnership Castle Exploration Company, Inc. Subsidiary Oil and gas production 100% Passive Investment: CEC, Inc. Subsidiary Passive activities 100%