Remington Oil and Gas Corporation
Computation of Earnings per Share
Exhibit 11.1
(In thousands, except per share amounts)
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<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net income (loss) available for basic income
per share $ 7,759 $ (1,071) $ 11,543 $ (7,747)
Interest expense on the Notes (net of tax) 80 - 160 -
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Net income (loss) available for diluted income
per share $ 7,839 $ (1,071) $ 11,703 $ (7,747)
======== ========= ========= =========
Basic income (loss) per share $ 0.36 $ (0.05) $ 0.54 $ (0.36)
======== ========= ========= =========
Diluted income (loss) per share $ 0.35 $ (0.05) $ 0.53 $ (0.36)
======== ========= ========= =========
Weighted average
Total common shares for basic income (loss)
per share 21,469 21,311 21,386 21,286
Dilutive stock options outstanding (treasury
stock method) 539 - 235 -
Shares assumed issued by conversion of the
Notes 541 - 541 -
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Total common shares for diluted income (loss)
per share 22,549 21,311 22,162 21,286
======== ========= ========= =========
Potential increase to net income for diluted
income per share
Interest expense on Notes (net of tax) $ - $ 80 $ - 420
Potential issues of common stock for diluted
income per share
Weighted average stock options outstanding - 1,207 - 1,207
Weighted average warrant outstanding 200 300 200 300
Weighted average shares issued assuming
conversion of Notes - 541 - 1,437
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