Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

The following table contains our consolidated ratio of earnings to fixed charges for the periods indicated. You should read these ratios in connection with our consolidated financial statements, including the notes to those financial statements (amounts in table in thousands, except ratios).

	For the years ended December 31,
	2012			2011			2010		2009			2008
Income (loss) before income taxes	$	(34,691	)	$	(15,830	)	$	9,898	$	(24,350	)	$	123,901
Add:
Fixed charges (see below)		2,835			2,206			55		54			48
Amortization of capitalized interest		187			7			—		—			—
Less:
Interest capitalized		(1,574	)		(1,278	)		—		—			—
Total earnings	$	(33,243	)	$	(14,895	)	$	9,953	$	(24,296	)	$	123,949
Fixed charges
Interest expensed	$	1,002		$	683		$	3	$	—		$	—
Interest capitalized		1,574			1,278			—		—			—
Amortized premiums, discounts & capitalized expenses related to indebtedness		231			221			33		33			26
Estimate of interest within rental expense		28			24			19		21			22
Total fixed charges	$	2,835		$	2,206		$	55	$	54		$	48
Ratio of earnings to fixed charges		(a	)		(b	)		180.0		(c	)		2,604.0

(a) During the period noted, our coverage ratio was less than 1:1. We would have needed to generate additional earnings of approximately $36.1 million during the year ended December 31, 2012 to achieve a coverage ratio of 1:1.

(b) During the period noted, our coverage ratio was less than 1:1. We would have needed to generate additional earnings of approximately $17.1 million during the year ended December 31, 2011 to achieve a coverage ratio of 1:1.

(c) During the period noted, our coverage ratio was less than 1:1. We would have needed to generate additional earnings of approximately $24.4 million during the year ended December 31, 2009 to achieve a coverage ratio of 1:1.