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EXHIBIT 12.1
SNYDER OIL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
PRO
FORMA
YEARS ENDED DECEMBER 31, AS
------------------------------------------------------- ADJUSTED
1989 1990 1991 1992 1993 1993(A)
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(DOLLARS IN THOUSANDS)
Income before taxes,
extraordinary item, and
and accounting change......... $ 7,321 $ 9,857 $ 11,439 $ 17,305 $ 34,909 $ 31,440
Interest expense................ 761 6,273 8,452 4,997 5,315 3,034
Pro forma Notes interest........ 0 0 0 0 0 5,750
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Earnings before fixed charges... 8,082 16,130 19,891 22,302 40,224 40,224
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Fixed Charges:
Interest expense................ 761 6,273 8,452 4,997 5,315 3,034
Pro forma Notes interest........ 0 0 0 0 0 5,750
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$ 761 $ 6,273 $ 8,452 $ 4,997 $ 5,315 $ 8,784
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Ratio of earnings
to fixed charges.............. 10.62 2.57 2.35 4.46 7.57 4.58
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(a) Presented pro forma for the Convertible Subordinated Notes, based on
$100,000,000 at the average yield of 5.75%.