EX-12.1 9 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

TRANSATLANTIC PETROLEUM LTD.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratios)

 

     Three Months
Ended
March 31,
2010
    Year Ended December 31,  
     2009     2008     2007     2006     2005  
     (unaudited)                                

Earnings available for fixed charges:

            

Loss before income taxes

   $ (10,498   $ (60,718   $ (16,475   $ (6,318   $ (12,285   $ (4,647

Interest expense, net (1)

     540        2,723        116        63        72        —     

Portion of rent expense representing interest

     17        31        10        11        10        6   
                                                
     (9,941     (57,964     (16,349     (6,244     (12,203     (4,641

Fixed charges:

            

Interest expense, net (1)

     540        2,723        116        63        72        —     

Portion of rent expense representing interest

     17        31        10        11        10        6   
                                                

Total fixed charges

     557        2,754        126        74        82        6   

Ratio of earnings to fixed charges

     —          —          —          —          —          —     

Coverage deficiency

     10,498        60,718        16,475        6,318        12,285        4,647   

 

  (1) Includes a nominal amount for amortized loan costs for the three months ended March 31, 2010 and for the twelve months ended December 31, 2009.