Exhibit 12.1

NEG Oil & Gas LLC
Computation of Historical Ratio of Earnings
to Fixed Charges
(in thousands, except for ratios)


													Three Months Ended
	Years ended December 31,												March 31,
	2001			2002			2003		2004		2005		2005			2006
													(unaudited)
Earnings:
Income (loss) before income taxes and extraordinary items	$	(4,414	)	$	(4,469	)	$	11,660	$	19,245	$	24,598		($27,125	)	$	60,550
Interest Expense		21,288			19,061			18,235		20,422		19,234		6,292			5,276
Amortization of debt issuance cost		0			0			793		774		1,189		199			265
Interest Portion of rental expenses		100			129			135		135		135		34			34
Less minority interest in pre-tax income		0			0			1,741		812		0		0			0

Earnings (loss)	$	16,974		$	14,721		$	29,082	$	39,764	$	45,156	$	20,600		$	66,125


Fixed Charges:
Interest, including capitalized portion	$	21,288		$	19,061		$	18,235	$	20,422	$	19,234	$	6,292		$	5,276
Amortization of debt issuance cost		0			0			793		774		1,189		199			265
Interest Portion of rental expenses		100			129			135		135		135		34			34

Fixed charges	$	21,388		$	19,190		$	19,163	$	21,331	$	20,558	$	6,525		$	5,575


Ratio of earnings to fixed charges		—			—			1.5x		1.9x		2.2x		—			11.9x


Deficiency of earnings to fixed charges	$	(4,414	)	$	(4,469	)	$	—	$	—	$	—		($27,125	)	$	—

NEG Oil & Gas LLC S-1