<PAGE>
EXHIBIT 11.1
MILLER EXPLORATION COMPANY
COMPUTATION OF EARNINGS PER COMMON SHARE
Year Ended December 31,
1999 1998
-------------------------------------
(In thousands, except per share data)
BASIC EARNINGS (LOSS) PER SHARE
Net loss $ (1,982) $ (41,800)
Shares
Weighted average shares outstanding 12,633 11,153
---------- -----------
Basic earnings (loss) per share $ (0.16) $ (3.75)
========== ===========
DILUTED EARNINGS (LOSS) PER SHARE
Net loss $ (1,982) $ (41,800)
Shares
Weighted average shares outstanding 12,633 11,153
---------- -----------
Basic earnings (loss) per share $ (0.16) $ (3.75)
========== ===========