Exhibit 12.1

Stone Energy Corporation
Computation of Ratio of Earnings to Fixed Charges
(dollars in millions)

	Year Ended December 31,
	2004			2005			2006			2007			2008
Pre-tax income (loss) from continuing operations before income (loss) from equity investees	$	184.1		$	213.2			($392.5	)	$	270.4			($1,501.2	)
Add: fixed charges		23.8			38.1			54.1			48.3			39.6
Less: capitalized interest		(7.0	)		(14.9	)		(18.2	)		(16.2	)		(26.4	)
Pretax income (loss) as adjusted	$	200.9		$	236.4			($356.6	)	$	302.5			($1,488.0	)
Fixed charges:
Interest expense (includes amortization of bond discounts)	$	16.8		$	23.2		$	35.9		$	32.1		$	13.2
Interest capitalized		7.0			14.9			18.2			16.2			26.4
Total fixed charges	$	23.8		$	38.1		$	54.1		$	48.3		$	39.6
Ratio of earnings to fixed charges		8.4x			6.2x			(a	)		6.3x			(b	)

(a)	Due to losses incurred in this year, earnings were $392.5 million short of covering fixed charges.
(b)	Due to losses incurred in this year, earnings were $1,501.2 million short of covering fixed charges.