Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

The following table contains our earnings to fixed charges and to combined fixed charges and preference dividends for the periods indicated. You should read these ratios in connection with our
consolidated financial statements, including the notes to those statements, incorporated by reference herein.



|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|------------------------------------------------------------------------------ |  | ---- | ------ | - | ---- | - | ------ | ----------------------- |  | - | -------- | - |  | ---- | -------- | - |  | - | -------- | -
|                                                                               |  |      |        |   |      |   |        | Years EndedDecember 31, |  |   |          |   |  |      |         
|                                                                               |  | 2006 |        |   | 2007 |   |        | 2008                    |  |   | 2009     |   |  | 2010 |         
|(Dollars in Thousands)                                                         |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|EARNINGS:                                                                      |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Net income (loss) before taxes (2)                                             |  | $    | 12,390 |   |      | $ | 24,895 |                         |  | $ | (150,138 | ) |  | $    | (181,120 | ) |  | $ | (142,531 | )
|Fixed charges                                                                  |  |      | 1,019  |   |      |   | 4,210  |                         |  |   | 14,466   |   |  |      | 18,507   |   |  |   | 20,486   |  
|Capitalized interest                                                           |  |      | (195   | ) |      |   | (122   | )                       |  |   | (361     | ) |  |      | (1,760   | ) |  |   | (2,632   | )
|Noncontrolling interest in net loss before taxes                               |  |      |       |   |      |   |       |                         |  |   |         |   |  |      | (173     | ) |  |   | (3,114   | )
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Earnings (Loss)                                                                |  | $    | 13,214 |   |      | $ | 28,983 |                         |  | $ | (136,033 | ) |  | $    | (164,546 | ) |  | $ | (127,791 | )
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|                                                                               |  |      |        |   |     
|FIXED CHARGES:                                                                 |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Interest expense                                                               |  | $    | 794    |   |      | $ | 3,833  |                         |  | $ | 10,010   |   |  | $    | 10,712   |   |  | $ | 9,312    |  
|Capitalized interest                                                           |  |      | 195    |   |      |   | 122    |                         |  |   | 361      |   |  |      | 1,760    |   |  |   | 2,632    |  
|Amortization of premiums and discounts related to indebtedness                 |  |      |       |   |      |   |       |                         |  |   | 2,424    |   |  |      | 3,522    |   |  |   | 5,595    |  
|Loan cost amortization                                                         |  |      | 30     |   |      |   | 255    |                         |  |   | 1,671    |   |  |      | 2,513    |   |  |   | 2,947    |  
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Fixed Charges                                                                  |  | $    | 1,019  |   |      | $ | 4,210  |                         |  | $ | 14,466   |   |  | $    | 18,507   |   |  | $ | 20,486   |  
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|                                                                               |  |      |        |   |     
|PREFERRED STOCK DIVIDENDS:                                                     |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Preferred dividends requirement                                                |  | $    | 1,799  |   |      | $ | 4,625  |                         |  | $ | 4,625    |   |  | $    | 4,625    |   |  | $ | 4,633    |  
|Ratio of income (loss) before provision for taxes to net income (loss) (2)     |  |      | 1.38   |   |      |   | 1.47   |                         |  |   | 1.21     |   |  |      | 1.00     |   |  |   | 1.03     |  
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|Preferred Dividends                                                            |  | $    | 2,484  |   |      | $ | 6,819  |                         |  | $ | 5,603    |   |  | $    | 4,626    |   |  | $ | 4,775    |  
|                                                                               |  |      |        |   |      |   |        |                         |  |   |          |   |  |      |          |   |  |   |          |  
|                                                                               |  |      |        |   |     
|COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS                                 |  | $    | 3,503  |   |      | $ | 11,029 |                         |  | $ | 20,069   |   |  | $    | 23,133   |   |  | $ | 25,261   |  
|                                                                               |  |      |        |   |     
|RATIO OF EARNINGS (LOSS) TO FIXED CHARGES (1)                                  |  |      | 12.97  |   |      |   | 6.88   |                         |  |   | (9.40    | ) |  |      | (8.89    | ) |  |   | (6.24    | )
|INSUFFICIENT COVERAGE                                                          |  | $    |       |   |      | $ |       |                         |  | $ | 150,499  |   |  | $    | 183,053  |   |  | $ | 148,277  |  
|                                                                               |  |      |        |   |     
|RATIO OF EARNINGS (LOSS) TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS (1) |  |      | 3.77   |   |      |   | 2.63   |                         |  |   | (6.78    | ) |  |      | (7.11    | ) |  |   | (5.06    | )
|INSUFFICIENT COVERAGE                                                          |  | $    |       |   |      | $ |       |                         |  | $ | 156,102  |   |  | $    | 187,679  |   |  | $ | 153,052  |  



|(1) | For purposes of determining the ratio of earnings to fixed charges and the ratio of combined fixed charges and preference dividends to earnings, earnings are defined as
income before income taxes, plus fixed charges (excluding amortization of capitalized interest) less capitalized interest. Fixed charges consist of interest incurred (whether expensed or capitalized) and amortization of deferred financing costs.
Preference dividends consist of dividends paid with respect to our outstanding preferred stock
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Net income (loss) reflect retrospective adoption of the cumulative effect of accounting changes for the years ended December 31, 2008 and 2009.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------