EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE

(In thousands of dollars, except per share data)	Three Months Ended March 31,
	2006		2005
Numerator:
Net income (loss)	$	8,133	$	(5,892	)
Effect of dilutive securities – none		—		—
Numerator for net income per common share — diluted	$	8,133	$	(5,892	)
Denominator:
Weighted average common shares		350,001		315,000
Effect of dilutive securities – none		—		—
Denominator for net income per common share — diluted		350,001		315,000
Net income (loss) per common share:
Basic	$	.02	$	(.02	)
Diluted	$	.02	$	(.02	)