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SandRidge Mississippian Trust I Announces Distribution Of $1.07 Per Unit

SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) announced today that its distribution for the period from January 1, 2011 through May 31, 2011 will be $1.068461 per unit. The distribution is expected to be distributed on or before August 30, 2011 to holders of record as of the close of business on August 15, 2011. The Trust was formed by SandRidge Energy, Inc. ("SandRidge") in late 2010 to own royalty interests in oil and natural gas properties owned by SandRidge in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma and is entitled to receive portions of the proceeds attributable to SandRidge’s interest in the sale of production from the properties. As described in the Trust's filings, the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trust's administrative expenses, among other factors. Although there is no assurance of any minimum distribution in any quarterly period, during the subordination period (as described in the Trust's filings), holders of Common Units will be entitled to receive an amount equal to the "Subordination Threshold" (which varies from quarter to quarter) prior to any distribution being made for that quarter in respect of the Subordinated Units. SandRidge is the holder of all of the Subordinated Units. If the amount available for distribution in any quarterly period is sufficient to distribute an amount equal to the Subordination Threshold to the holders of all units (including the Subordinated Units), any additional balance is distributed to holders of all units, up to the amount of the Incentive Threshold for the quarter. Common units are entitled to receive 50% of any amount in excess of the Incentive Threshold for the quarter.

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