SANDRIDGE PERMIAN TRUST (NYSE: PER) today announced a quarterly distribution for the three-month period ended December 31, 2012 (which primarily relates to production attributable to the Trust’s interests from September 1, 2012 through November 30, 2012) of $31.7 million, or $0.603032 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before March 1, 2013 to holders of record as of the close of business on February 14, 2013. During the three-month production period ended November 30, 2012, total sales volumes decreased 7% from the previous three-month period. The lower volume was primarily due to bringing fewer wells on production versus the previous period. This was mainly driven by a reduction in rig count: four to five drilling rigs were utilized in the previous period versus an average of three rigs in this period. In addition, the number of development wells awaiting completion increased by 9.3 wells from the previous period. It is anticipated that this inventory will return to its previous levels in the upcoming distribution periods. The lower production was partly offset by higher realized prices. The realized oil price, including the impact of hedges and natural gas liquids, was 2% higher compared to the previous period. The realized gas price increased 15% over the previous period. Overall, the period’s results generated a 3% lower distribution per unit than the target. The Trust owns royalty interests created from interests held by SandRidge Energy, Inc. (“SandRidge”) and its subsidiaries in oil and natural gas properties in the Central Basin Platform of the Permian Basin in Andrews County, Texas and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), 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 up 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, all of which are held by SandRidge. 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 pro rata, up to the amount of the Incentive Threshold for the quarter. Trust units are entitled to receive 50% of any cash available for distribution in excess of the Incentive Threshold for the quarter. The announced distribution exceeded the Subordination Threshold, but not the Incentive Threshold, for the quarter.