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                                  EXHIBIT 11.2

                     LOMAK PETROLEUM, INC. AND SUBSIDIARIES

                       Computation of Earnings Per Common
                          and Common Equivalent Shares
                      (In thousands, except per share data)



                                                                        Six Months Ended June 30,
                                                                  --------------------------------------
                                                                        1995                 1996
                                                                  -----------------    -----------------

                                                                                            
Average shares outstanding                                              11,178                13,940 
                                                                                                     
Net effect of conversion of warrants and stock options                     137                   383 
                                                                      --------              -------- 
                                                                                                     
Total primary and fully diluted shares                                  11,315                14,323 
                                                                      ========              ======== 
                                                                                                     
                                                                                                     
Net income                                                            $  1,821              $  5,384 
                                                                                                     
Less preferred stock dividends                                            (187)               (1,287)
                                                                      --------              -------- 
                                                                                                     
Net income applicable to common shares                                $  1,634              $  4,097 
                                                                      ========              ======== 
                                                                                                     
Earnings per common share                                             $    .14              $    .29 
                                                                      ========              ======== 






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