EX-12.1 13 v099384_ex12-1.htm
 
Energy XXI (Bermuda) Ltd.

Exhibit 12.1
 
RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our historical consolidated ratio of earnings to fixed charges for the periods shown:

 
 
 
 
Year Ending
June 30, 2007
(unaudited)
 
Period from inception
(July 25 2005) to
June 30, 2006
(unaudited)
 
Three Months Ending
September 30, 2007
(unaudited)
 
Three Months Ending
September 30, 2006
(unaudited)
 
RATIO OF EARNINGS TO FIXED CHARGES
   
1.61x
   
2.09x
   
1.11x
   
1.20x
 

For purposes of computing the ratio of earnings to fixed charges, earnings is defined as pre-tax income plus fixed charges. Fixed charges consist of interest expense and amortization of deferred financing fees.
 

Calculation of Ratio of Earnings to Fixed Charges, as Defined (in thousands, except ratio of earnings to fixed charges):

   
Year Ending
June 30, 2007
(unaudited)
 
Period from inception
July 25 2005 to
June 30, 2006
(unaudited)
 
Three Months Ending
September 30, 2007
(unaudited)
 
Three Months Ending
September 30, 2006
(unaudited)
 
Earnings:
                         
Pre-Tax Income
   
36,795
   
8,669
   
2,816
   
2,964
 
Fixed Charges
   
60,330
   
7,933
   
26,811
   
14,859
 
Total Earnings
   
97,125
   
16,602
   
29,627
   
17,823
 
 
                         
Fixed Charges:
                         
Interest expensed
   
53,285
   
7,439
   
25,691
   
9,492
 
Deferred financing fees
   
7,045
   
494
   
1,120
   
5,367
 
Total Fixed Charges
   
60,330
   
7,933
   
26,811
   
14,859
 
 
                         
Ratio of Earnings to Fixed Charges
   
1.61
   
2.09
   
1.11
   
1.20