Exhibit 12.1
BELDEN & BLAKE CORPORATION
RATIOS OF EARNINGS TO FIXED CHARGES
(CONTINUING OPERATIONS ONLY)
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<Caption>
NINE MONTHS ENDED
YEAR ENDED DECEMBER 31, SEPTEMBER 30, 2004
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1999 2000 2001 2002 2003 HISTORICAL PRO FORMA
-------- ------- ------- ------- ------- ---------- ---------
(UNAUDITED,
(IN THOUSANDS) IN THOUSANDS)
Income from continuing operations
before income taxes............. $(27,576) $ 7,316 $ 7,012 $14,185 $ 9,170 $ 244 $(6,945)
Fixed charges:
Interest expense................ 31,991 27,288 25,055 22,506 23,580 18,327 16,903
Interest portion of rent
expense...................... 909 747 762 802 975 855 855
Amortization of debt issuance
costs........................ 3,772 3,028 2,098 1,528 1,242 1,033 1,231
-------- ------- ------- ------- ------- ------- -------
Total fixed charges.......... 36,672 31,063 27,915 24,836 25,797 20,215 18,989
-------- ------- ------- ------- ------- ------- -------
Earnings before income taxes and
fixed charges................... $ 9,096 $38,379 $34,927 $39,021 $34,967 $20,459 $12,044
======== ======= ======= ======= ======= ======= =======
Ratio of earnings to fixed
charges......................... 0.2x 1.2x 1.3x 1.6x 1.4x 1.0x 0.6x
======== ======= ======= ======= ======= ======= =======
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