EX-12.1 4 h15899exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 MISSION RESOURCES STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
YTD ------------------------------------------------------------------------------- 1999 2000 2001 2002 2003 ------------- ------------- ------------- ------------- ------------- Fixed charges: Interest expense, gross 11,845 15,375 23,664 26,853 25,565 Portion of rentals representative of interest 5 153 165 206 210 ------------- ------------- ------------- ------------- ------------- Total fixed charges 11,850 15,528 23,829 27,059 25,775 Earnings before fixed charges: Pretax income (loss) 5,659 19,986 (40,000) (50,064) 4,725 Fixed charges 11,850 15,528 23,829 27,059 25,775 Impairment expenses -- -- 27,971 16,679 -- Earnings - White Shoal Pipeline -- -- -- -- (361) ------------- ------------- ------------- ------------- ------------- Total earnings before fixed charges 17,509 35,514 11,800 (6,326) 30,139 Ratio of earnings to fixed charges: Earnings before fixed charges: 17,509 35,514 11,800 (6,326) 30,139 Fixed charges 11,850 15,528 23,829 27,059 25,775 ------------- ------------- ------------- ------------- ------------- Ratio of earnings to fixed charges 1.5 2.3 -- -- 1.2 1ST QUARTER 1ST QUARTER ------------- ------------- 2003 2004 ------------- ------------- Fixed charges: Interest expense, gross 6,027 6,262 Portion of rentals representative of interest 53 65 ------------- ------------- Total fixed charges 6,080 6,327 Earnings before fixed charges: Pretax income (loss) 17,272 566 Fixed charges 6,080 6,327 Impairment expenses -- -- Earnings - White Shoal Pipeline (290) (16) ------------- ------------- Total earnings before fixed charges 23,062 6,877 Ratio of earnings to fixed charges: Earnings before fixed charges: 23,062 6,877 Fixed charges 6,080 6,327 ------------- ------------- Ratio of earnings to fixed charges 3.8 1.1