To date, equivalent development wells producing, or drilled and perforated for completion, during production periods upon which distributions are based are as follows:
Equivalent Producing Development Wells
Additional Drilled Development Wells*
Total Development Wells
*Equivalent development wells that are not producing at the ‘As of’ date but have been drilled and perforated for completion
SandRidge Energy, Inc., the sponsor of SandRidge Permian Trust, announced that it will host a conference call on May 11, 2012 at 8:30 am CDT. The telephone number to access the conference call from within the U.S. is 800-659-2037 and from outside the U.S. is 617-614-2713. The participant code for the call is 67637626. The call may also be accessed via the internet at http://www.media-server.com/m/acs/b0e1965025cba637726a74be9b0b60c8. An audio replay of the call will be available from May 11, 2012 until 11:59 pm CDT on May 18, 2012. The number to access the conference call replay from within the U.S. is 888-286-8010 and from outside the U.S. is +1-617-801-6888. The participant code for the replay is 83366151.
Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to foreign partners should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to foreign partners should be made at 30% of gross income unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by SandRidge Permian Trust, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold 35% of the distribution made to foreign partners.