EX-12.1 4 d916367dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TRANSATLANTIC PETROLEUM LTD.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratios)

 

     Year Ended December 31,  
     2014      2013     2012      2011     2010  

Earnings available for fixed charges:

             

Income (loss) from continuing operations before income taxes

    $ 42,143       $ (12,164 )    $ 118       $ (80,139 )    $ (29,807 ) 

Interest expense

      6,213         3,929        8,340         13,665        7,055   

Portion of rent expense representing interest

      —           —          —           —          —     
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Earnings available for fixed charges

   48,356      (8,235 )    8,458      (66,474 )    (22,752 ) 

Fixed charges:

Interest expense

   6,213      3,929      8,340      13,665      7,055   

Portion of rent expense representing interest

   —        —        —        —        —     
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Fixed charges

   6,213      3,929      8,340      13,665      7,055   

Ratio of earnings to fixed charges

   7.8      —        1.0      —        —     

Coverage deficiency

 $ 16,093    $ 93,804    $ 36,862