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<PAGE> 1
EXHIBIT 12.1
TransTexas Gas Corporation
Ratio of Earnings to Fixed Charges
(in thousands of dollars)
<TABLE>
<CAPTION>
Six Months
Ended Year Ended
Year Ended January 31, January 31, July 31,
---------------------------------------------- --------- ---------
2000 1999 1998 1997 1996 1995
---------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
Income (loss) before income taxes $ 2,825 $(485,473) $ 461,913 $ 95,816 $ (1,188) $ (14,307)
Add:
Interest expense, net of amounts capitalized 38,526 79,921 80,580 97,007 43,370 68,508
Portion of rental expense representative
of an interest factor 1,046 881 1,057 686 337 530
--------- --------- --------- --------- --------- ---------
Earnings (A) $ 42,397 $(404,671) $ 543,550 $ 193,509 $ 42,519 $ 54,731
========= ========= ========= ========= ========= =========
Fixed charges:
Total interest $ 42,245 $ 89,617 $ 97,232 $ 112,895 $ 50,751 $ 69,391
Portion of rental expense representative
of an interest factor 1,046 881 1,057 686 337 530
--------- --------- --------- --------- --------- ---------
Fixed charges (B) $ 42,291 $ 90,498 $ 98,289 $ 113,581 $ 51,088 $ 69,921
========= ========= ========= ========= ========= =========
Ratio of earnings to fixed charges (A / B) 1.0 -- 5.5 1.7 -- --
========= ========= ========= ========= ========= =========
Earnings inadequate to cover fixed charges $ -- $ 495,169 $ -- $ -- $ 8,569 $ 15,190
========= ========= ========= ========= ========= =========
</TABLE>
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