SandRidge Mississippian Trust I Announces Distribution Of $0.727696 Per Unit

Volumes, price and distributable income available to unitholders for the period were (dollars in thousands, except per unit):

Sales Volumes
Oil (MBbl) (1)			157
Gas (MMcf)			1,322
Combined (MBoe)			377
Average Price
Oil (per Bbl) (1)		$	96.17
Gas (per Mcf)		$	2.44
Average Price - including impact of derivative settlements and post-production expenses
Oil (per Bbl) (1)		$	98.17
Gas (per Mcf)		$	4.11
Revenues
Royalty income		$	18,317
Derivative settlements			3,270
Expenses			1,212
Distributable income available to unitholders		$	20,375
Distributable income per unit (28,000,000 units issued and outstanding)		$	0.727696

(1)

Includes natural gas liquids.

In addition to wells that were producing at the effective date of the assignment of the royalty interests to the Trust, SandRidge, pursuant to a development agreement with the Trust, is obligated to drill, or cause to be drilled, the equivalent of 123 development wells, determined by reference to SandRidge’s net revenue interest in a well and the perforated length of the well, in an area of mutual interest by December 31, 2014. In the event of delays, SandRidge will have until December 31, 2015 to fulfill its drilling obligation.

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