EX-12.1 8 v103161_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)
 
Six Months Ending
December 31, 2007
(unaudited)
 
Six Months Ending
December 31, 2006
(unaudited)
 
RATIO OF EARNINGS TO FIXED CHARGES
   
1.61x
   
2.09x
   
1.24x
   
1.75x
 

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)
 
Six Months Ending
December 31, 2007
(unaudited)
 
Six Months Ending
December 31, 2006
(unaudited)
 
Earnings:
                         
Pre-Tax Income
   
36,795
   
8,669
   
12,857
   
20,329
 
Fixed Charges
   
60,330
   
7,933
   
53,630
   
27,007
 
Total Earnings
   
97,125
   
16,602
   
66,487
   
47,336
 
 
                         
Fixed Charges:
                         
Interest expensed
   
53,285
   
7,439
   
51,056
   
21,334
 
Deferred financing fees
   
7,045
   
494
   
2,574
   
5,673
 
Total Fixed Charges
   
60,330
   
7,933
   
53,630
   
27,007
 
 
                         
Ratio of Earnings to Fixed Charges
   
1.61
   
2.09
   
1.24
   
1.75