<SEC-DOCUMENT>0001193125-16-548232.txt : 20160420
<SEC-HEADER>0001193125-16-548232.hdr.sgml : 20160420
<ACCEPTANCE-DATETIME>20160420160634
ACCESSION NUMBER:		0001193125-16-548232
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160406
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160420
DATE AS OF CHANGE:		20160420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDRIDGE ENERGY INC
		CENTRAL INDEX KEY:			0001349436
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				208084793
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33784
		FILM NUMBER:		161581443

	BUSINESS ADDRESS:	
		STREET 1:		123 ROBERT S. KERR AVENUE
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-6406
		BUSINESS PHONE:		405-429-5500

	MAIL ADDRESS:	
		STREET 1:		123 ROBERT S. KERR AVENUE
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-6406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RIATA ENERGY INC
		DATE OF NAME CHANGE:	20060111
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d132938d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): April&nbsp;6, 2016 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SANDRIDGE ENERGY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-33784</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>20-8084793</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Incorporation or Organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>123 Robert S. Kerr Avenue</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Oklahoma City, Oklahoma</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>73102</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Zip Code)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s Telephone Number, including Area Code: (405)&nbsp;429-5500 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01 &#151; Other Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On April&nbsp;10, 2013, the U.S. District Court for the Western District of Oklahoma consolidated five putative shareholder derivative actions (the
&#147;Federal Shareholder Derivative Litigation&#148;) under the caption &#147;In re SandRidge Energy, Inc. Shareholder Derivative Litigation.&#148; As described in further detail in the Quarterly Report on Form 10-Q for the period ended
June&nbsp;30, 2015 filed by SandRidge Energy, Inc. (&#147;SandRidge&#148; or the &#147;Company&#148;), and in the Notice of Proposed Settlement of Shareholder Derivative Litigation filed as exhibit 99.1 to this report, the plaintiffs in the Federal
Shareholder Derivative Litigation have asserted a variety of claims derivatively on behalf of the Company, including claims against certain individual defendants who are current or former officers or directors of the Company, and claims against
certain other parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;22, 2015, the Court granted final approval to a partial settlement among the derivative plaintiffs, the Special
Litigation Committee of the Company&#146;s board of directors, and individual defendants Jim J. Brewer, Everett R. Dobson, William A. Gilliland, Daniel W. Jordan, Roy T. Oliver, Jr., Jeffrey S. Serota, and Tom L. Ward. Under the terms of this
settlement, SandRidge agreed to implement or maintain certain corporate governance reforms, and the insurers for the individual defendants paid $38 million to an escrow fund, which is being used to pay certain expenses arising from pending
securities litigation and, to the extent funds remain after paying such expenses, will be paid to the Company without any further restrictions on the Company&#146;s use of such funds. This settlement did not resolve the derivative plaintiffs&#146;
claims against defendants WCT Resources, L.L.C., 192 Investments, L.L.C., and TLW Land&nbsp;&amp; Cattle, L.P. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;31, 2016, the derivative
plaintiffs, the Special Litigation Committee, and remaining defendants WCT Resources, L.L.C., 192 Investments, L.L.C., and TLW Land&nbsp;&amp; Cattle, L.P. executed a Stipulation of Settlement, which would resolve the remaining claims in the action.
Under the terms of this settlement, the remaining defendants would make a payment of $500,000, minus taxes, expenses, and incentive awards, to SandRidge. Counsel for the derivative plaintiffs have agreed that they will not seek reimbursement of
expenses in excess of $120,000. Counsel for the derivative plaintiffs have also agreed that they will not seek incentive awards for the two named plaintiffs in excess of $15,000 each. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On April&nbsp;6, 2016, the District Court issued an Order granting preliminary approval of the March&nbsp;31 settlement and establishing procedures for notice
to shareholders and consideration of any shareholder objections to the settlement. The April&nbsp;6 Order also set a hearing for final approval of the settlement on June&nbsp;15, 2016. Additional information can be found in the Notice of Proposed
Settlement of Shareholder Derivative Litigation, a copy of which is filed as exhibit 99.1 to this report, and the Stipulation of Settlement, which is available on the Company&#146;s website at
http://investors.sandridgeenergy.com/investor-relations/Derivative-Litigation-Settlement/. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and Exhibits </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Notice of Proposed Settlement of Shareholder Derivative Litigation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Summary Notice of Proposed Settlement of Shareholder Derivative Litigation</TD></TR>
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<TD HEIGHT="8"></TD>
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<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Stipulation of Settlement</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>SANDRIDGE ENERGY, INC.</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3">(Registrant)</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt ;margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Philip T. Warman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Philip T. Warman</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Title: Senior Vice President and General Counsel</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April&nbsp;20, 2016 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EXHIBIT INDEX </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt ;border-bottom:1.00pt solid #000000; width:51.70pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit&nbsp;Number</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt ;border-bottom:1.00pt solid #000000; width:53.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Name of Exhibit</P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">99.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Notice of Proposed Settlement of Shareholder Derivative Litigation</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">99.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Summary Notice of Proposed Settlement of Shareholder Derivative Litigation</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">99.3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Stipulation of Settlement</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P>
<P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTICE OF PROPOSED SETTLEMENT OF </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHAREHOLDER DERIVATIVE LITIGATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">TO:</TD>
<TD ALIGN="left" VALIGN="top">ALL PERSONS WHO OWNED SHARES OF SANDRIDGE ENERGY, INC. (&#147;SANDRIDGE&#148; or the &#147;COMPANY&#148;) COMMON STOCK AS OF MARCH 31, 2016 AND CONTINUE TO OWN SUCH SHARES. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of this Notice is to inform you about: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) a
proposed settlement (&#147;Settlement&#148;) in the <FONT STYLE="white-space:nowrap">above-captioned</FONT> shareholder derivative lawsuit (the &#147;Consolidated Action&#148;) among (1)&nbsp;lead plaintiff Paul Elliot, on behalf of the Paul Elliot
IRA R/O, and plaintiffs Arthur I. Levine, Lisa Ezell, Jefferson L. Mangus, Tyler D. Mangus, Claudia D. Fanelli, Joan Brothers, and Deborah Depuy (each, a &#147;Plaintiff&#148;; collectively, &#147;Plaintiffs&#148;); (2)&nbsp;the Special Litigation
Committee (&#147;SLC&#148;) of the Board of Directors (the &#147;Board&#148;) of nominal defendant SandRidge Energy, Inc. (&#147;SandRidge&#148; or the &#147;Company&#148;); and (3)&nbsp;Defendants WCT Resources L.L.C. (&#147;WCT&#148;), 192
Investments, L.L.C. (&#147;192&#148;), and TLW Land&nbsp;&amp; Cattle, L.P. (&#147;TLW&#148;) (&#147;Settling Defendants&#148;), as reflected in the Stipulation of Settlement (&#147;Stipulation&#148;) dated March&nbsp;31, 2016, that was filed with
the Court and is available for review as indicated at paragraph 35 below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(ii) the hearing that the Court will hold on June&nbsp;15, 2016 to determine
whether to approve the Settlement and to consider Co-Lead Counsels&#146; application for reimbursement of litigation expenses incurred in the prosecution of the Consolidated Action, and for incentive awards to certain Plaintiffs (the
&#147;Settlement Hearing&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iii) current shareholders&#146; rights with respect to the proposed Settlement, and Co-Lead Counsels&#146;
application for reimbursement of expenses, and certain Plaintiffs&#146; request for incentive awards. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PLEASE READ THIS NOTICE CAREFULLY
AND IN ITS ENTIRETY. YOUR RIGHTS </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WILL BE AFFECTED BY THIS LITIGATION. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;22, 2015, the Court granted final approval to a partial settlement among Plaintiffs, the SLC, Jim J. Brewer, Everett R. Dobson, William A.
Gilliland, Daniel W. Jordan, Roy T. Oliver, Jr., and Jeffrey S. Serota (the &#147;Independent Directors&#148;), and Tom L. Ward (&#147;Ward&#148;) for $38 million in cash (subject to deductions for certain expenses that may be incurred as part of a
separate securities class action) and certain corporate governance measures (&#147;Dec. 22 Settlement&#148;). The Dec. 22 Settlement did not settle claims against WCT, 192, and TLW. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;31, 2016, the Stipulation was entered into between and among Plaintiffs and Defendants WCT, 192 and
TLW, subject to the approval of the Court, pursuant to Rule 23.1 of the Federal Rules of Civil Procedure, for $500,000 in cash. If approved, the proposed Settlement will resolve all remaining claims alleged in the Consolidated Action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Because this Consolidated Action was brought as a derivative action on behalf of and for the benefit of SandRidge, any monetary benefits from the Settlement
will go to SandRidge. Individual SandRidge shareholders will not receive any direct payment from the Settlement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following description of the
Consolidated Action and Settlement does not constitute findings of the Court. It is based on statements of Plaintiffs and the Settling Defendants (the &#147;Settling Parties&#148;) and should not be understood as an expression of any opinion of the
Court as to the merits of any of the claims or defenses raised by any of the Settling Parties. The Court has not yet approved the Settlement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All
capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT IS THE PURPOSE OF THIS NOTICE?
</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. The purpose of this Notice is
to explain the Consolidated Action, the terms of the proposed Settlement, and how the proposed Settlement affects SandRidge shareholders&#146; legal rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. In a derivative action, one or more people and/or entities who are current shareholders of a corporation sue on behalf of and for the
benefit of the corporation, seeking to enforce the corporation&#146;s legal rights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3. As described more fully below, current SandRidge
shareholders<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> have the right to object to the proposed Settlement, the application by Co-Lead Counsel for expenses, and the request of certain Plaintiffs for incentive awards. Current SandRidge
shareholders have the right to appear and be heard at the Settlement Hearing, which will be held on June&nbsp;15, 2016, at 10:00 a.m., before the Honorable Lee R. West, at the United States District Court for the Western District of Oklahoma, 200
N.W. 4th Street, Oklahoma City, Oklahoma 73102. At the Settlement Hearing, the Court will determine: (i)&nbsp;whether the Settlement should be approved; (ii)&nbsp;whether the Released Claims against the Settling Defendants should be dismissed with
prejudice as set forth in the Stipulation; and (iii)&nbsp;whether Co-Lead Counsels&#146; request for reimbursement of litigation expenses, and certain Plaintiffs&#146; request for incentive awards should be approved by the Court. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Shareholders that owned SandRidge common stock as of March&nbsp;31, 2016 and continue to own such stock through June&nbsp;15, 2016, the date of the Settlement Hearing, are current SandRidge shareholders (&#147;Current
Shareholder&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT IS THIS CASE ABOUT? WHAT HAS HAPPENED SO FAR? </P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. On March&nbsp;22, 2013, Plaintiffs
Lisa Ezell, Jefferson L. Mangus, and Tyler Mangus filed a shareholder derivative action (the &#147;<I>Ezell</I>&#148; action) entitled <I>Ezell v. Ward</I>, No. CIV-13-286-W. On April&nbsp;1, 2013, an amended complaint was filed in the <I>Ezell</I>
action that alleged, among other things, claims against WCT and 192 for aiding and abetting the Independent Directors breach of fiduciary duties and for civil conspiracy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5. On April&nbsp;10, 2013, the Court consolidated the <I>Ezell</I> action with the four similar actions, appointed Paul Elliot, on behalf of
the Paul Elliot IRA R/O as Lead Plaintiff, and appointed Kaplan Fox&nbsp;&amp; Kilsheimer LLP (&#147;Kaplan Fox&#148;) and Whitten Burrage as Co-Lead Counsel for the Consolidated Action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6. On May&nbsp;1, 2013, Plaintiffs filed a Verified Consolidated Shareholder Derivative Complaint (the &#147;Complaint&#148;) in the
Consolidated Action asserting claims on behalf of SandRidge against the Settling Defendants as well as the Independent Directors, and Ward; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7. On June&nbsp;3, 2013, the Independent Directors, Ward, and the Settling Defendants (collectively, &#147;Defendants&#148;) moved to dismiss
the Complaint. Following extensive briefing, on September&nbsp;11, 2013, the Court issued an Order dismissing the Complaint, and granting Plaintiffs leave to file an amended complaint. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8. On October&nbsp;9, 2013, Plaintiffs filed a Consolidated, Amended and Verified Shareholder Derivative Complaint (the &#147;Amended
Complaint&#148;). The Amended Complaint realleged all of the claims alleged in the Complaint, except for the claims for constructive fraud, civil conspiracy, and claims under the Securities Exchange Act of 1934. On November&nbsp;15, 2013, Defendants
moved to dismiss the Amended Complaint. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9. Following extensive briefing, on September&nbsp;22, 2014, the Court issued orders denying the
Independent Directors&#146; motion in its entirety, denying Ward and TLW&#146;s motion as to the claims for misappropriation of SandRidge&#146;s assets and denying TLW&#146;s motion as to the claims for unjust enrichment, and denying 192 and
WCT&#146;s motion as to the claims for misappropriation of SandRidge&#146;s assets and unjust enrichment. <I>In re SandRidge Energy, Inc. S&#146;holder Derivative Litig.</I>, 302 F.R.D. 628 (W.D. Okla. 2014). The motions to dismiss were granted as
to all other causes of action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10. On September&nbsp;26, 2014, the Board of Directors of SandRidge formed the SLC. On October&nbsp;9,
2014, the SLC moved for a six-month stay of the Consolidated Action in order to facilitate an independent review, investigation, and determination with respect to the claims asserted by Plaintiffs. Plaintiffs opposed this motion. Following extensive
briefing, on October&nbsp;22, 2014, the Court issued an Order denying the SLC&#146;s motion to stay the Consolidated Action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">11. Starting
in October 2014, the parties engaged in discovery. Plaintiffs served numerous document requests and interrogatories. Plaintiffs also served several subpoenas to non-parties, including land brokers. To date, hundreds of thousands of documents have
been produced and Plaintiffs&#146; counsel have taken several depositions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">12. On January&nbsp;30 and March&nbsp;27, 2015, the parties mediated before former U.S. District
Judge Layn R. Phillips. After the mediations, the parties continued negotiations with the assistance of Judge Phillips. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">13. Plaintiffs,
SandRidge, the SLC, the Independent Directors, Ward and, their insurers reached an agreement to settle all Claims asserted in the Action, with the exception of Claims against WCT, 192, and TLW, on the terms set forth in the Oct. 8 Stipulation. On
December&nbsp;22, 2015, the Court entered a Final Order and Judgment in which, among other things, the Court granted final approval to the proposed partial settlement as memorialized in the Oct. 8 Stipulation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">14. Plaintiffs and the Settling Defendants continued negotiations with the assistance of Judge Phillips, and on January&nbsp;28, 2016,
Plaintiffs and the Settling Defendants agreed to settle on the terms set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">15. Plaintiffs and the Settling Defendants entered
into the Stipulation on March&nbsp;31, 2016, and on April&nbsp;6, 2016, the Court preliminarily approved the Settlement in which, among other things, the Court (i)&nbsp;directed that this Notice be mailed to all shareholders of record as of
March&nbsp;31, 2016 attached as an exhibit to a Form 8-K filed with the U.S. Securities and Exchange Commission, and be posted, along with a copy of the Stipulation, on SandRidge&#146;s corporate website and on Kaplan Fox&#146;s website, and
(ii)&nbsp;scheduled the Settlement Hearing to consider whether to grant Final Approval to the Settlement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT ARE THE BENEFITS OF THE
SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">16. In exchange for the Release described below in Paragraphs 21-24, the Settling Defendants have agreed to make a payment of $500,000 (the
&#147;Settlement Payment&#148;), which shall be paid to the Company to the extent that funds remain after deducting Taxes and any Expense Award and Incentive Awards, as defined in the Stipulation. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT ARE PLAINTIFFS&#146; REASONS FOR THE SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">17. Plaintiffs and Co-Lead Counsel
believe that the claims asserted against the Settling Defendants have merit. Plaintiffs and Co-Lead Counsel recognize, however, the expense and length of continued proceedings necessary to pursue their claims against the Settling Defendants through
trial and appeal. Plaintiffs and Co-Lead Counsel have taken into account the possibility that the claims asserted in the Amended Complaint might have been dismissed in response to motions for summary judgment by the Settling Defendants, and have
also considered the defenses available to the Settling Defendants at trial and other issues that would have been decided by a jury in the event of a trial of the Consolidated Action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">18. In light of the cash payment created by the Settlement, Plaintiffs and Co-Lead Counsel, the Company, and the SLC believe that the proposed
Settlement is fair, reasonable, adequate, and in the best interests of SandRidge. The Settlement provides immediate material benefits to SandRidge without the risk that continued litigation could result in obtaining similar or lesser relief for
SandRidge after continued extensive and expensive litigation, including trial and the appeals that were likely to follow. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">19. The Settling Defendants have denied the claims asserted against them and disclaim any
liability or damages or having engaged in any wrongdoing or violation of law of any kind whatsoever and have entered into the Settlement solely in order to avoid the expense, risk, distraction, and uncertainty of further litigation. Accordingly, the
Settlement may not be construed as an admission of the Settling Defendants&#146; wrongdoing, nor construed or deemed to be evidence of or an admission or concession on the part of any Settling Defendant with respect to the merits of any claim, nor
of any infirmity in the defenses that the Settling Defendants have, or could have, asserted in this Consolidated Action. Likewise, the Settlement shall in no event be construed or deemed to be evidence of or an admission or concession on the part of
any Plaintiff of any infirmity in the claims that Plaintiffs have, or could have, asserted. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT MIGHT HAPPEN IF THERE WERE NO
SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">20. If there were no Settlement and Plaintiffs failed to establish any essential legal or factual element of their claims, SandRidge would not
receive any of the benefits of the Settlement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT CLAIMS WILL THE SETTLEMENT RELEASE? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">21. If the Settlement is approved,
the Court will enter a judgment (the &#147;Judgment&#148;). Plaintiffs, SandRidge, the SLC (on behalf of the Company), and all Company Stockholders (derivatively on behalf of the Company) shall, by operation of the Judgment and to the fullest extent
permitted by law, (i)&nbsp;release and be deemed to release and forever discharge the Released Claims (including Unknown Claims) against the Released Persons, (ii)&nbsp;covenant and be deemed to covenant not to prosecute any Released Claims
(including Unknown Claims) against any Released Persons, and (iii)&nbsp;forever be barred and enjoined from asserting any Released Claims (including Unknown Claims) against any Released Persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">22. &#147;Released Claims&#148; means any and all Claims held directly by SandRidge or derivatively on behalf of SandRidge, that have been or
could have been, or in the future can or might be, asserted by SandRidge, or derivatively on behalf of SandRidge, in any court, tribunal, or proceeding against any Released Person, arising out of or relating in any way, directly or indirectly, to
any facts, circumstances, conduct, or allegations asserted in the Consolidated Action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">23. &#147;Released Persons&#148; means WCT, 192
and, TLW, and with respect to each Settling Defendant, their current and former parents, subsidiaries, affiliates, predecessors, successors, assigns, agents, attorneys, financial or business advisors, auditors, consultants,&nbsp;representatives,
executors, trustees, partners or general or limited partnerships,&nbsp;administrators, and insurers, solely in each of their capacities as such.&nbsp;&#147;Released Persons&#148; also includes each Settling Defendant&#146;s owners, stockholders,
members, officers, directors, managers, employees, principals, and each such person&#146;s spouses, family members, and estates, solely in each of their capacities as such. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">24. &#147;Unknown Claims&#148; means any Released Claims that SandRidge, the SLC, Plaintiffs, or
any other Company Stockholder does not know or suspect to exist in his, her, or its favor at the time of the release of the Released Persons. With respect to any and all Claims released by this Stipulation, the Settling Parties and all Company
Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived the provisions, rights, and benefits of California Civil Code &#167;1542, which provides: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Settling Parties and all Company
Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law, which is similar,
comparable, or equivalent to California Civil Code &#167;1542. The Settling Parties and all Company Stockholders may hereafter discover facts in addition to or different from those which he, she, or it now knows or believes to be true with respect
to the Claims released by this Settlement but nonetheless, upon the Effective Date, shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever settled and released all such Claims, known or unknown, suspected
or unsuspected, contingent or non-contingent, accrued or unaccrued, whether or not concealed or hidden, which now exist, or heretofore have existed upon any theory of law or equity now existing or coming into existence in the future, including, but
not limited to, conduct which is negligent, intentional, with or without malice, or a breach of any duty, law or rule, without regard to the subsequent discovery or existence of such different or additional facts. The Settling Parties and all
Company Stockholders shall be deemed by operation of the Judgment to have acknowledged that the foregoing waivers were separately bargained for and are key elements of this Settlement and the releases granted herein. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHO REPRESENTS PLAINTIFFS AND HOW WILL THE ATTORNEYS BE PAID? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">25. On April&nbsp;10, 2013, the Court
appointed Kaplan Fox and Whitten Burrage as Co-lead Counsel in the Consolidated Action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">26. Co-Lead Counsel intends to apply to the Court
for reimbursement of expenses incurred in connection with the prosecution of the Consolidated Action in an amount not to exceed $120,000, and for incentive awards for Plaintiffs Elliot and Ezell in the amount of $15,000 each from the $500,000
settlement payment. The Court will determine the ultimate amount of any expense award or incentive awards, and the Settlement is not conditioned upon such awards. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHEN AND WHERE WILL THE COURT RULE ON APPROVAL OF THE SETTLEMENT? </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DO I HAVE TO COME TO THE HEARING? MAY I SPEAK AT THE HEARING? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">27. The Settlement Hearing will be
held on June&nbsp;15, 2016, at 10:00 a.m., before the Honorable Lee R. West, at the United States District Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102. The Court may approve the Settlement or the
application for expenses, and certain Plaintiffs&#146; request for incentive awards at or after the Settlement Hearing without further notice to Current Shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">28. If you owned SandRidge common stock as of March&nbsp;31, 2016 and continue to own such stock through June&nbsp;15, 2016, the date of the
Settlement Hearing, you may, if you wish to do so, comment to the Court on the proposed Settlement and/or the application for reimbursement of litigation expenses. Company Stockholders who do not wish to object in person to the proposed Settlement
and/or the application for expenses or incentive awards, do not need to attend the Settlement Hearing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">29. Co-Lead Counsel will file
papers with the Court in support of the Settlement and application for expenses incurred in connection with the prosecution of the Consolidated Action, and for incentive awards to Plaintiffs on May&nbsp;25, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">30. Objections or oppositions must be in writing and must be filed together with proof that you owned shares of SandRidge common stock as of
March&nbsp;31, 2016 and continue to own such shares, with the Clerk&#146;s Office at the address set forth below on or before June&nbsp;1, 2016. You must also serve the papers on Co-Lead Counsel and Defendants&#146; Counsel at the addresses set
forth below so that the papers are <I>received </I>on or before June&nbsp;1, 2016. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Clerk&#146;s Office</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">UNITED STATES DISTRICT COURT FOR</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE WESTERN DISTRICT OF</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OKLAHOMA</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Clerk of the Court</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">200 N.W. 4th St.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City,
Oklahoma 73102</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage,
OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215 Classen Drive</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for WCT and 192</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">GARDERE WYNNE SEWELL LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Peter
Scaff</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1000 Louisiana, Suite 3400</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houston, Texas 77002</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone:
713-276-5000</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">pscaff@gardere.com</P></TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for the SLC of SandRidge</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEBEVOISE &amp; PLIMPTON LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Maeve
O&#146;Connor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">919 Third Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mloconnor@debevoise.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for TLW</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LATHAM &amp; WATKINS, LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">J.
Christian Word</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">555 Eleventh Street, Suite 1000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Washington, D.C. 20004</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">christian.word@lw.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">31. A Company Stockholder who or which wishes to be heard orally at the hearing in opposition to the approval
of the Settlement, Co-Lead Counsels&#146; request for reimbursement of expenses, or Plaintiffs&#146; request for incentive awards, and has filed and served a timely written objection as described above, also must notify the above counsel on or
before June&nbsp;1, 2016 concerning his, her, or its intention to appear. Company Stockholders who or which intend to object and desire to present evidence at the Settlement Hearing must include in their written objections the identity of any
witnesses they may call to testify at the Settlement Hearing and the exhibits they intend to introduce into evidence at the Settlement Hearing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">32. Co-Lead Counsel will file reply papers with the Court, if any, on June&nbsp;8, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">33. The Settlement Hearing may be adjourned by the Court without further written notice to Current Shareholders. If you intend to attend the
Settlement Hearing, you should confirm the date and time with Co-Lead Counsel. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">34. Unless the Court orders otherwise, any Company
Stockholder who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, Co-Lead Counsels&#146; request for reimbursement of
expenses, or Plaintiffs&#146; request for incentive awards. Company Stockholders do not need to appear at the hearing or take any other action to indicate their approval. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CAN I SEE THE COURT FILE? WHOM SHOULD I
CONTACT IF I HAVE QUESTIONS? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">35. This Notice contains only a summary of the terms of the proposed Settlement. More detailed information about the Consolidated Action is
available at http://investors.sandridgeenergy.com/investor-relations/Derivative-Litigation-Settlement/, or www.kaplanfox.com, including, among other documents, the Stipulation of Settlement. You or your attorney may examine the Court files for <I>In
re SandRidge Energy, Inc. Shareholder Derivative Litigation, </I>No. CIV-13-102-W during regular business hours at the Western District of Oklahoma Court. Questions about the Settlement or about this Notice in general should be directed to: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage,
OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215 Classen Drive</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You should ask Co-Lead Counsel to confirm receipt of any email correspondence regarding the Settlement of this Notice within
three business days. If Co-Lead Counsel do not confirm receipt within three business days, you should call to ensure receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DO NOT CALL
OR WRITE THE COURT OR THE OFFICE OF THE CLERK OF </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COURT REGARDING THIS NOTICE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: April&nbsp;20, 2016 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By Order of the Clerk of Court
United States District Court </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">for the Western District of Oklahoma </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUMMARY NOTICE OF PROPOSED SETTLEMENT OF SHAREHOLDER DERIVATIVE LITIGATION </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>TO:</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B>ALL PERSONS WHO OWN SHARES OF SANDRIDGE ENERGY, INC. (&#147;SANDRIDGE&#148; or the &#147;COMPANY&#148;) COMMON STOCK AS OF MARCH 31, 2016 AND CONTINUE TO OWN SUCH SHARES. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">YOU ARE HEREBY NOTIFIED, pursuant to Rule 23.1 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Western
District of Oklahoma (the &#147;Court&#148;), of (i)&nbsp;the pendency of the above-captioned shareholder derivative litigation (the &#147;Litigation&#148; or &#147;Action&#148;), which was brought by certain SandRidge shareholders on behalf of and
for the benefit of SandRidge; and (ii)&nbsp;a proposed settlement of the Litigation (the &#147;Settlement&#148;), subject to Court approval for consideration as provided in a Stipulation of Settlement (the &#147;Stipulation&#148;) that is filed with
the Court and available for review as indicated below, and a payment of $500,000 in cash (the &#147;Settlement Payment&#148;) by defendants WCT Resources L.L.C. (&#147;WCT&#148;), 192 Investments, L.L.C. (&#147;192&#148;), and TLW Land&nbsp;&amp;
Cattle, L.P. (&#147;TLW&#148;) (collectively, the &#147;Settling Defendants&#148;) to SandRidge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A hearing will be held on June&nbsp;15, 2016, at 10:00
a.m., before the Honorable Lee R. West, at the United States District Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102 (the &#147;Settlement Hearing&#148;) to determine (i)&nbsp;whether the proposed
Settlement should be approved; (ii)&nbsp;whether the Released Claims against the Settling Defendants should be dismissed with prejudice as set forth in the Stipulation; (iii)&nbsp;whether Co-Lead Counsels&#146; request for reimbursement of
litigation expenses should be approved by the Court; and (iv)&nbsp;whether certain Plaintiffs&#146; request for incentive awards should be approved by the Court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IF THE SETTLEMENT IS APPROVED, THE RIGHTS OF SANDRIDGE SHAREHOLDERS TO PURSUE CLAIMS ON BEHALF OF SANDRIDGE WHICH ARE BEING RELEASED PURSUANT TO THE
SETTLEMENT WILL BE AFFECTED. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Please Note</U>: Because this Litigation was brought as a derivative action, which means that it was brought on behalf of
and for the benefit of the Company, any monetary benefits from the Settlement Payment will go to SandRidge. In a derivative action, individual shareholders do not receive any direct monetary recovery from the settlement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A more detailed Notice of Proposed Partial Settlement of Shareholder Derivative Litigation (the
&#147;Notice&#148;) that provides additional information concerning the Litigation, the terms of the proposed Settlement, and SandRidge shareholders&#146; legal rights with respect to the proposed Settlement and the application for reimbursement of
litigation expenses, and request for Plaintiffs&#146; incentive awards, along with copies of the Stipulation and other documents filed in the Litigation, can be obtained from Kaplan Fox&nbsp;&amp; Kilsheimer LLP&#146;s (&#147;Kaplan Fox&#146;)
website (<U>www.kaplanfox.com</U>), or the Company&#146;s website (<U>www.sandridgeenergy.com</U>). The notice has been mailed to all shareholders of record as of April&nbsp;6, 2016. The Notice has also been filed as an exhibit to the Form 8-K filed
with the U.S. Securities and Exchange Commission by SandRidge on , 2016 and it is posted on SandRidge&#146;s website http://investors.sandridgeenergy.com/investor-relations/Derivative-Litigation-Settlement/, and Kaplan Fox&#146;s website
(<U>www.kaplanfox.com)</U>. You may also examine the Court files for the Litigation during regular business hours at the United States District Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you owned shares of SandRidge common stock as of March&nbsp;31, 2016 and continue to own such shares through June&nbsp;15, 2016 (the date of the Settlement
Hearing), you may, if you wish to do so, comment to the Court on the proposed Settlement, the application for reimbursement of litigation expenses, and Plaintiffs&#146; request for incentive awards. Any objections to the proposed Settlement, the
application for reimbursement of expenses, or Plaintiffs&#146; request for incentive awards must be filed with the Court and delivered to Co-Lead Counsel and Counsel for each of the Settling Defendants no later than June&nbsp;1, 2016, in accordance
with the instructions set forth in the Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PLEASE DO NOT CONTACT THE COURT OR THE CLERK&#146;S OFFICE REGARDING THE SETTLEMENT AND THIS NOTICE. All
inquiries may be made to Co-Lead Counsel: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Co-Lead Counsel</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage, OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215
Classen Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Co-Lead Counsel</I></B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You should ask Co-Lead Counsel to confirm receipt of any email correspondence regarding the Settlement or the notice within
three business days. If Co-Lead Counsel do not confirm receipt within three business days, you should call to ensure receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By Order of the Clerk of
Court United States District Court </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">for the Western District of Oklahoma </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All
Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STIPULATION OF SETTLEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Stipulation of Settlement (&#147;Stipulation&#148;) is made and entered into by the following parties, each of which is individually
referred to herein as a &#147;Settling Party&#148; and all of which are collectively referred to as the &#147;Settling Parties&#148;: (1)&nbsp;lead plaintiff Paul Elliot, on behalf of the Paul Elliot IRA R/O, and plaintiffs Arthur I. Levine, Lisa
Ezell, Jefferson L. Mangus, Tyler D. Mangus, Claudia D. Fanelli, Joan Brothers, and Deborah Depuy (each, a &#147;Plaintiff&#148;; collectively, &#147;Plaintiffs&#148;); (2)&nbsp;the Special Litigation Committee (&#147;SLC&#148;) of the Board of
Directors (the &#147;Board&#148;) of nominal defendant SandRidge Energy, Inc. (&#147;SandRidge&#148; or the &#147;Company&#148;); and (3)&nbsp;defendants WCT Resources, L.L.C. (&#147;WCT&#148;), 192 Investments, L.L.C. (&#147;192&#148;), and TLW
Land&nbsp;&amp; Cattle, L.P. (&#147;TLW&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the approval of the Court and the terms and conditions expressly provided
herein, this Stipulation is intended to fully, finally, and forever resolve, discharge, and settle any and all Released Claims against WCT, 192, and TLW (collectively, the &#147;Settling
Defendants&#148;).<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in Section&nbsp;1 below. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about December&nbsp;19, 2012, Plaintiff Arthur I. Levine filed a shareholder derivative action (the &#147;<I>Levine</I>&#148;
action) entitled <I>Levine v. Ward</I>, No. CIV-12-1404-W; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about January&nbsp;22, 2013, Plaintiff Deborah Depuy filed a
shareholder derivative action (the &#147;<I>Depuy</I>&#148; action) entitled <I>Depuy v. Ward</I>, No. CIV-13-69-W; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about
January&nbsp;29, 2013, Plaintiff Paul Elliot filed a shareholder derivative action (the &#147;<I>Elliot</I>&#148; action) entitled <I>Elliot v. Ward</I>, No. CIV-13-102-W; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about February&nbsp;15, 2014, Plaintiff Joan Brothers filed a shareholder derivative action (the &#147;<I>Brothers</I>&#148;
action) entitled <I>Brothers v. Ward</I>, No. CIV-13-167-W; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about March&nbsp;22, 2013, Plaintiffs Lisa Ezell, Jefferson L.
Mangus, and Tyler Mangus filed a shareholder derivative action (the &#147;<I>Ezell</I>&#148; action) entitled <I>Ezell v. Ward</I>, No. CIV-13-286-W, after which an amended complaint was filed in the <I>Ezell</I> action in which WCT and 192 were
added as additional Defendants; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, by order dated April&nbsp;10, 2013, the Court (i)&nbsp;consolidated the <I>Levine, Depuy,
Elliot, Brothers, </I>and <I>Ezell </I>actions into this consolidated shareholder derivative action (the &#147;Consolidated Action&#148;), (ii)&nbsp;directed that the consolidated case be titled <I>In re SandRidge Energy, Inc. Shareholder Derivative
Litigation</I>, No. CIV-13-102-W, (iii)&nbsp;appointed Paul Elliot as Lead Plaintiff, (iv)&nbsp;appointed Whitten Burrage and Kaplan Fox&nbsp;&amp; Kilsheimer LLP (&#147;Kaplan Fox&#148;) as co-lead counsel, and (v)&nbsp;appointed
Federman&nbsp;&amp; Sherwood as liaison counsel; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on May&nbsp;1, 2013, Plaintiffs filed a Verified Consolidated Shareholder
Derivative Complaint (the &#147;Complaint&#148;) in the Consolidated Action asserting claims on behalf of SandRidge against the Settling Defendants as well as Defendants Jim J. Brewer, Everett R. Dobson, William A. Gilliland, Daniel W. Jordan, Roy
T. Oliver, Jr., and Jeffrey S. Serota (the &#147;Independent Directors&#148;), and Defendant Tom L. Ward (&#147;Ward&#148;); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on September&nbsp;11, 2013, the Court granted, in part, and denied, in part, the motions
to dismiss filed by the defendants in the Consolidated Action, dismissing the Complaint with leave to replead; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on
October&nbsp;9, 2013, Plaintiffs filed an Amended Verified Consolidated Shareholder Derivative Complaint (the &#147;Amended Complaint&#148;) asserting claims derivatively on behalf of SandRidge against the Defendants, including: (a)&nbsp;claims
against Ward for breach of fiduciary duty and misappropriation of trade secrets; (b)&nbsp;claims against the Independent Directors for waste of corporate assets and breach of fiduciary duty, including alleged breaches of the obligation to exercise
oversight over SandRidge and its officers and directors; and (c)&nbsp;claims against the Settling Defendants for misappropriation of trade secrets, unjust enrichment, and aiding and abetting breach of fiduciary duty; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on September&nbsp;22, 2014, the Court denied the Independent Directors&#146; motion to dismiss the claims against them in the Amended
Complaint, holding, <I>inter alia</I>, that Plaintiffs had adequately pleaded demand futility and stated claims against the Independent Directors for corporate waste and breach of fiduciary duty; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on September&nbsp;22, 2014, the Court granted, in part, and denied, in part, the motion of Ward and TLW to dismiss the claims against
them in the Amended Complaint, dismissing Plaintiffs&#146; claim against Ward for breach of fiduciary duty and Plaintiffs&#146; claim against TLW for aiding and abetting breach of fiduciary duty and denying the motion insofar as it sought to dismiss
claims against Ward and TLW for misappropriation of trade secrets and claims against TLW for unjust enrichment; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on September&nbsp;22, 2014, the Court granted, in part, and denied, in part, the motion
of WCT and 192 to dismiss the claims against them in the Amended Complaint, dismissing Plaintiffs&#146; claim against WCT and 192 for aiding and abetting breach of fiduciary duty and denying the motion insofar as it sought to dismiss claims against
WCT and 192 for misappropriation of trade secrets and unjust enrichment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on September&nbsp;26, 2014, the Board of Directors of
SandRidge adopted a resolution forming the SLC and delegating to the SLC the &#147;full and exclusive power and authority of the Board of Directors to . . . investigate, review, and evaluate the facts, circumstances, and claims asserted in or
relating to&#148; the Consolidated Action; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the resolution forming the SLC delegates to the SLC full power and authority to
determine whether the Consolidated Action is in the best interests of the Company and, in connection therewith, to &#147;determine whether to continue or to seek to dismiss all or part of the Litigation or to settle some or all of the claims set
forth in the Litigation&#148;; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, by order dated October&nbsp;22, 2014, the Court denied the SLC&#146;s motion to stay the
Consolidated Action pending the SLC&#146;s investigation of the claims in the Action, with the result that Plaintiffs thereafter proceeded to conduct discovery while the SLC&#146;s investigation of the claims asserted in the Consolidated Action was
ongoing; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Plaintiffs have received extensive document discovery, including millions of pages of documents produced by SandRidge,
the Independent Directors, Ward, the Settling Defendants, and third parties; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Plaintiffs served a letter from Randa Reeves to
Joanne Sum-Ping dated May&nbsp;3, 2015 supplementing their Rule 26 initial disclosures in the Consolidated Action; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the SLC has conducted an investigation into the claims in the Consolidated Action
against the Settling Defendants, including a review of documents produced in the Action as well as witness interviews; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the SLC
and the parties to the Consolidated Action participated in a mediation (the &#147;Mediation&#148;) before the Hon. Layn Phillips, which commenced with in person meetings on January&nbsp;30, 2015 and March&nbsp;27, 2015 and continued thereafter
through telephonic conferences between and among the parties and the mediator; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, during the course of the Mediation, counsel for
the Settling Parties engaged in extensive settlement negotiations, including arm&#146;s-length discussions concerning the merits of the Claims and defenses at issue in the Consolidated Action; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, as a result of the Mediation, Plaintiffs, SandRidge, the SLC, the Independent Directors, Ward, and their insurers reached an
agreement to settle all Claims asserted in the Consolidated Action, with the exception of the Claims against WCT, 192, and TLW, on the terms set forth in a Stipulation of Settlement dated October&nbsp;8, 2015 (the &#147;October 8 Stipulation&#148;);
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHERERAS, on December&nbsp;22, 2015, the Court entered a Final Order and Judgment in which, among other things, the Court granted final
approval to the proposed partial settlement as memorialized in the October&nbsp;8 Stipulation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, based on its investigation, the
SLC concluded that claims against the Settling Defendants were unlikely to result in recovery for the Company and that the Company&#146;s best interest was served by allowing Plaintiffs to pursue such claims rather than expending Company resources
in an effort to terminate them; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the SLC informed Plaintiffs that it does not object to Plaintiffs pursuit or settlement
of such claims; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Plaintiffs and the Settling Defendants continued negotiations with the assistance of Judge Phillips, and on
January&nbsp;28, 2016, Plaintiffs and the Settling Defendants agreed to settle on the terms set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Settlement is
intended to provide not only for a release of all Claims asserted against the Settling Defendants in the Consolidated Action, but also for a release of all other Claims, including Unknown Claims, that SandRidge has, had, or may in the future have
against the Settling Defendants that arise out of or relate, directly or indirectly, to&nbsp;any facts or allegations asserted in the Consolidated Action; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on the basis of the information available to them, including the extensive documents and information produced in discovery and other
facts and materials adduced during the course of their investigation, Plaintiffs have evaluated the strengths and weaknesses of the Released Claims and determined that the terms of the Settlement set forth herein are fair, reasonable, and adequate,
and in the best interests of the Company and its shareholders and believe that it is reasonable to seek approval of the Settlement by the Court based upon the terms set forth herein and the material benefits to be provided to the Company by the
Settlement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, while the Plaintiffs believe that the claims asserted in the Consolidated Action have merit, they also recognize and
acknowledge the following: (i)&nbsp;the expense and length of continued proceedings necessary to prosecute the Consolidated Action; (ii)&nbsp;the uncertainty and risk inherent in litigation, the problems of proof, and the potential existence of
valid defenses to the claims asserted in the Consolidated Action; and (iii)&nbsp;the material benefits provided to the Company by the proposed Settlement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, each of the Settling Defendants denies all allegations of wrongdoing or liability on
their part, and specifically maintains that each has not committed any violation of law or breach of fiduciary duty or engaged in any wrongdoing whatsoever, but has concluded that it is desirable to enter into this Settlement solely to avoid the
costs, disruption, uncertainty, and risk of further litigation, and without admitting the validity of any Claims or allegations made in the Consolidated Action, or any liability with respect thereto; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, it is hereby stipulated and agreed by and among the Settling Parties as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <B>DEFINITIONS</B>. The following terms, used in this Stipulation, shall have the meanings specified below: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.1 &#147;Claims&#148; means any and all suits, claims, causes of action, debts, demands, rights, liabilities, damages, obligations, judgments,
duties, costs, expenses, matters and issues of every kind or nature, whether known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued,
apparent or unapparent, including but not limited to any claims arising under any federal, state, foreign, or common law, including Unknown Claims, as defined herein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.2 &#147;Company Stockholder&#148; means all individuals and entities who held of record, or beneficially owned, directly or indirectly, any
common stock of SandRidge as of the Record Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.3 &#147;Co-Lead Counsel&#148; means Whitten Burrage and Kaplan Fox. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.4 &#147;Defendants&#148; means the Settling Defendants, the Independent Directors, and Ward. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.5 &#147;Effective Date&#148; means the first date by which all of the events and conditions
specified in Section&nbsp;6.1 of the Stipulation have been met and have occurred. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.6 &#147;Escrow Account&#148; means the account to
established by the Escrow Agent to hold the Settlement Fund, which account, subject to the District Court&#146;s supervisory authority, shall be under the control of the Escrow Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.7 &#147;Escrow Agent&#148; means the law firm of Latham&nbsp;&amp; Watkins, LLP. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.8 &#147;Exhibits&#148; means the exhibits to this Stipulation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.9 &#147;Final Court Approval&#148; means (i)&nbsp;if no appeal is filed, that the applicable time for the filing or noticing of any appeal
from the Judgment has expired; or (ii)&nbsp;if an appeal is filed, that (a)&nbsp;the Judgment, has been finally affirmed on appeal or that the appeal has been dismissed, and (b)&nbsp;that the time within which to petition for rehearing, rehearing en
banc, and for a writ of certiorari to review the Judgment has expired or all such petitions have been denied or, if a petition for a writ of certiorari is granted, that the Judgment has been affirmed pursuant to that grant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.10 &#147;Judgment&#148; means the judgment substantially in the form of Exhibit B, dismissing the Consolidated Action and releasing and
discharging all Released Claims against all Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.11 &#147;Net Settlement Fund&#148; means the Settlement Fund less:
(i)&nbsp;any Taxes; (ii)&nbsp;any Expense Award; and (iii)&nbsp;any Incentive Awards. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.12 &#147;Notice Order&#148; means the order
substantially in the form attached as Exhibit A granting preliminary approval of the proposed Settlement memorialized herein and providing for notice thereof to shareholders of SandRidge. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.13 &#147;Plaintiffs&#146; Counsel&#148; means Whitten Burrage, Kaplan Fox, Jackson Walker
L.L.P., and Federman&nbsp;&amp; Sherwood. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.14 &#147;Record Date&#148; means the date on which the Notice Order provided for in this
Stipulation is entered by the Court. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.15 &#147;Released Claims&#148; means any and all Claims held directly by SandRidge or derivatively
on behalf of SandRidge, that have been or could have been, or in the future can or might be, asserted by SandRidge, or derivatively on behalf of SandRidge, in any court, tribunal, or proceeding against any Released Person, arising out of or relating
in any way, directly or indirectly, to any facts, circumstances, conduct, or allegations asserted in the Consolidated Action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.16
&#147;Released Persons&#148; means WCT, 192 and, TLW, and with respect to each Settling Defendant, their current and former parents, subsidiaries, affiliates, predecessors, successors, assigns, agents, attorneys, financial or business advisors,
auditors, consultants,&nbsp;representatives, executors, trustees, partners or general or limited partnerships,&nbsp;administrators, and insurers, solely in each of their capacities as such.&nbsp;&#147;Released Persons&#148; also includes each
Settling Defendant&#146;s owners, stockholders, members, officers, directors, managers, employees, principals, and each such person&#146;s spouses, family members, and estates, solely in each of their capacities as such. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.1 &#147;Settlement Payment&#148; means $500,000 (five-hundred thousand) dollars in cash. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.2 &#147;Settlement Fund&#148; means the Settlement Payment plus any and all interest earned thereon from the date the Settlement Payment is
deposited into the Escrow Account. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.3 &#147;Settling Defendants&#146; Counsel&#148; means Gardere Wynne Sewell LLP, Cutter Law Firm
PLC, Latham&nbsp;&amp; Watkins LLP, and Corbyn Hampton Law Firm. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.4 &#147;Taxes&#148; means: (i)&nbsp;all federal, state, and/or local
taxes of any kind on any income earned by the Settlement Fund after it is deposited into the Escrow Account; and (ii)&nbsp;the expenses and costs incurred by the Escrow Agent in connection with determining the amount of, and paying, any federal,
state, and/or local taxes of any kind owed by the Settlement Fund (including, without limitation, expenses of tax attorneys and accountants). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.5 &#147;Unknown Claims&#148; means any Released Claims that SandRidge, the SLC, Plaintiffs, or any other Company Stockholder does not know or
suspect to exist in his, her, or its favor at the time of the release of the Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <B>SETTLEMENT CONSIDERATION</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2.1 In consideration of the Settlement of the Released Claims, the Settling Defendants shall pay or caused to be paid, in full satisfaction of
the monetary obligations under the terms of the Settlement, the Settlement Payment (five-hundred thousand dollars ($500,000.00), in cash), such amount to be deposited into the Escrow Account within five (5)&nbsp;calendar days after entry of
preliminary approval of the Settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <B>USE OF THE SETTLEMENT FUND</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.1 The Settlement Fund shall be used to pay: (i)&nbsp;any Taxes; (ii)&nbsp;any Expense Award (as defined below); and (iii)&nbsp;and Incentive
Awards (as defined below). The balance remaining in the Settlement Fund, that is, the Net Settlement Fund, shall be distributed to SandRidge. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.2 Except as expressly provided herein or pursuant to an Order of the Court, the Net Settlement
Fund shall remain in the Escrow Account prior to the Effective Date. All funds held in the Escrow Account shall be deemed to be in the custody of the District Court and shall remain subject to the jurisdiction of the District Court until such time
as such funds shall be distributed or returned pursuant to the terms of this Stipulation and/or further Order of the Court. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.3 The Escrow
Agent shall invest funds in the Escrow Account in instruments backed by the full faith and credit of the United States Government or an agency thereof (or a mutual fund invested solely in such instruments), or deposit some or all of the funds in
interest-bearing transaction accounts up to the limit of Federal Deposit Insurance Corporation insurance. The Settlement Fund shall bear all risks related to the investments of the Settlement Payment in accordance with the guidelines set forth in
this paragraph. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.4 The Parties agree that the Settlement Fund is intended to be a Qualified Settlement Fund within the meaning of
Treasury Regulation &#167; 1.468B-1 and that the Escrow Agent, as administrator of the Settlement Fund within the meaning of Treasury Regulation &#167; 1.468B-2(k)(3), shall be solely responsible for filing or causing to be filed all informational
and other tax returns as may be necessary or appropriate (including, without limitation, the returns described in Treasury Regulation &#167; 1.468B-2(k)) for the Settlement Fund. Such returns shall be consistent with this paragraph and, in all
events, shall reflect that all taxes on the income earned on the Settlement Fund shall be paid out of the Settlement Fund as provided below. The Escrow Agent shall also be responsible for causing payment to be made from the Settlement Fund of any
Taxes owed with respect to the Settlement Fund. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.5 Upon written request, the Settling Defendants will provide to the Escrow Agent the
statement described in Treasury Regulation &#167; 1.468B-3(e). The Escrow Agent, as administrator of the Settlement Fund within the meaning of Treasury Regulation &#167; 1.468B-2(k)(3), shall timely make such elections as are necessary or advisable
to carry out this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
paragraph, including, as necessary, making a &#147;relation back election,&#148; as described in Treasury Regulation &#167; 1.468B-1(j), to cause the Qualified Settlement Fund to come into
existence at the earliest allowable date, and shall take or cause to be taken all actions as may be necessary or appropriate in connection therewith. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.6 All Taxes shall be paid out of the Settlement Fund, and shall be timely paid by the Escrow Agent, and without prior Order of the District
Court. Any tax returns prepared for the Settlement Fund (as well as the election set forth therein) shall be consistent with the previous paragraph and in all events shall reflect that all Taxes (including any interest or penalties) on the income
earned by the Settlement Fund shall be paid out of the Settlement Fund as provided herein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B>RELEASE OF CLAIMS</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.1 Upon the Effective Date, the Plaintiffs, SandRidge, the SLC (on behalf of the Company), and all Company Stockholders (derivatively on
behalf of the Company) shall, by operation of the Judgment and to the fullest extent permitted by law, (i)&nbsp;release and be deemed to release and forever discharge the Released Claims (including the Unknown Claims) against the Released Persons,
(ii)&nbsp;covenant and be deemed to covenant not to prosecute any Released Claims (including Unknown Claims) against any Released Persons, and (iii)&nbsp;forever be barred and enjoined from asserting any Released Claims (including Unknown Claims)
against any Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.2 Upon the Effective Date, each of the Released Persons shall, by operation of the Judgment and to the
fullest extent permitted by law, (i)&nbsp;release and be deemed to have released and forever discharged Plaintiffs and Plaintiffs&#146; Counsel, from all Claims (including Unknown Claims) arising out of or related to the institution, prosecution,
assertion, settlement or resolution of the Consolidated Action, (ii)&nbsp;covenant and be deemed to covenant not to prosecute any such Claims, and (ii)&nbsp;forever be barred and enjoined from asserting any such Claims. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.3 With respect to any and all Claims released by this Stipulation, the Settling Parties and all
Company Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived the provisions, rights, and benefits of California Civil Code &#167;1542, which provides: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Settling Parties and all Company
Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law, which is similar,
comparable, or equivalent to California Civil Code &#167;1542. The Settling Parties and all Company Stockholders may hereafter discover facts in addition to or different from those which he, she, or it now knows or believes to be true with respect
to the Claims released by this Settlement but nonetheless, upon the Effective Date, shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever settled and released all such Claims, known or unknown, suspected
or unsuspected, contingent or non-contingent, accrued or unaccrued, whether or not concealed or hidden, which now exist, or heretofore have existed, upon any theory of law or equity now existing or coming into existence in the future, including, but
not limited to, conduct which is negligent, intentional, with or without malice, or a breach of any duty, law, or rule, without regard to the subsequent discovery or existence of such different or additional facts. The Settling Parties and all
Company Stockholders shall be deemed by operation of the Judgment to have acknowledged that the foregoing waivers were separately bargained for and are key elements of this Settlement and the releases granted herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <B>PROCEDURE FOR APPROVAL</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.1 Within fifteen (15)&nbsp;days of the execution of this Stipulation by all parties hereto, the Settling Parties shall submit the Stipulation
together with its Exhibits to the Court and shall apply for entry of an order (the &#147;Notice Order&#148;), substantially in the form of Exhibit A attached hereto, directing that notice of the proposed Settlement be provided to shareholders of
SandRidge as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) by mailing a notice of the proposed Settlement (the &#147;Notice of Proposed Settlement&#148;) substantially in
the form of Exhibit A-1 to all shareholders of record as of the date on which the Notice Order is entered (the &#147;Record Date&#148;); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) by posting a summary notice describing the proposed Settlement (the &#147;Summary Notice&#148;) substantially in the form of Exhibit A-2 on
the Company&#146;s website and publishing the Summary Notice via a national newswire service such as Business Wire, Marketwire, or PR Newswire; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) by posting the Summary Notice on the website of Kaplan Fox; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) by filing with the Securities and Exchange Commission a form 8-K attaching this Stipulation and the Exhibits hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.2 The Notice Order shall set a date for a final hearing, at least 45 days following the mailing and publication of notice (the
&#147;Settlement Hearing&#148;), at which the Court shall consider and determine whether to approve the proposed Settlement pursuant to Federal Rule of Civil Procedure 23.1, by entering the Judgment, substantially in the form of Exhibit B,
dismissing the Released Claims from the Consolidated Action and, releasing and discharging all Released Claims against Released Persons, and providing for other relief set forth therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.3 All costs relating to providing notice of the Settlement (excluding the costs of posting the
Notice of Proposed Settlement on websites of Plaintiffs&#146; Counsel) shall be paid by SandRidge regardless of whether the Settlement is approved. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.4 If any Released Claims are asserted against any Released Person in any court prior to Final Court Approval of the Settlement, Plaintiffs,
the SLC and SandRidge shall cooperate with the Settling Defendants in obtaining the dismissal, stay, or withdrawal of such related litigation, including, where appropriate, joining in any motion to dismiss or stay such litigation pending the
Settlement Hearing in the Action. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><B>CONDITIONS OF SETTLEMENT AND EFFECT OF DISAPPROVAL, CANCELLATION, OR TERMINATION OF SETTLEMENT.</B> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.1 The Settlement shall be conditioned upon the occurrence of all of the following events: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) entry of the Notice Order; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) entry of the Judgment substantially in the form of Exhibit B and without material modification of the releases contained therein or any
other material modification; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) making of the Settlement Payment; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Final Court Approval of the Settlement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.2 Any Settling Party may terminate the Settlement and this Stipulation by filing notice of termination of the Settlement on PACER in the
Consolidated Action or serving such notice on counsel for the Settling Parties by mail within thirty (30)&nbsp;days after (a)&nbsp;the Court declines to enter the Notice Order or the Judgment, declines to approve the Settlement, or materially
modifies any term of the Notice Order, the Judgment, or the Settlement, or (b)&nbsp;the Judgment is reversed or modified in any material respect by an appellate court. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.3 In the event that the Settlement or the Stipulation is not approved by the Court or is
terminated for any reason, the Settling Parties shall be restored to their respective positions in the Consolidated Action as of the date immediately prior to the execution of this Stipulation, and this Stipulation and all related communications
shall be deemed settlement communications within the meaning of Federal Rule of Evidence 408 and shall not be introduced in any action or proceeding, except to the extent necessary to enforce this provision. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <B>NO ADMISSION OF WRONGDOING</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7.1 Neither this Stipulation nor any Exhibit or provision thereof, nor any act performed or document executed pursuant to or in furtherance of
this Stipulation or the Settlement, nor any of the negotiations, discussions, or proceedings in connection with the Stipulation, the Settlement, or the Mediation: (a)&nbsp;is or may be deemed to be or may be used as an admission of, or evidence of,
the validity or lack thereof of any Released Claim, or of any wrongdoing or liability of the Settling Defendants or any Released Person; or (b)&nbsp;is or may be deemed to be or may be used as an admission of, or evidence of, any fault or omission
of any of Settling Defendants or any Released Person, in any civil, criminal, or administrative proceeding in any court, administrative agency, or other tribunal. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7.2 The Released Persons may file the Stipulation and/or the Judgment in any action that may be brought against them in order to support a
defense or counterclaim based on principles of res&nbsp;judicata, collateral estoppel, release, good faith settlement, judgment bar or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <B>EXPENSE AND INCENTIVE AWARD APPLICATIONS</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.1 Concurrent with seeking court approval of the Settlement, Plaintiffs&#146; Counsel intend to apply to the Court for reimbursement of the
litigation expenses that have been incurred by Plaintiffs&#146; Counsel in prosecuting this Action in an amount not to exceed $120,000 (&#147;Expense Award&#148;), and for incentive awards to Plaintiffs Elliot and Ezell in the amount of $15,000 each
(&#147;Incentive Awards&#148;) (collectively &#147;Expense and Incentive Award Applications&#148;). No other application for expenses or incentive awards shall be filed by Plaintiffs&#146; Counsel in connection with the Settlement, or the Released
Claims. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.2 The Settling Defendants, the Company, and the SLC shall take no position on the amount of the Expense and Incentive Award
Applications, provided they comply with this Stipulation and seek expenses and incentive awards that are less than or equal to 30% of the Settlement Amount, or $150,000. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.3 Any expenses or incentive awards awarded by the Court (the &#147;Expense and Incentive Awards&#148;) shall be paid within 10 business days
of the later of (a)&nbsp;the date of the Expense and Incentive Awards, and (b)&nbsp;the date on which the Judgment is entered. The Expense and Incentive Awards shall be funded entirely from the Settlement Payment. Any payments made in satisfaction
of the Expense and Incentive Awards shall be made subject to Co-Lead Counsel&#146;s joint and several obligations to make refunds if the Stipulation, the Settlement, or the Expense and Incentive Awards are subsequently terminated, modified, or
reversed as the a result of any appeal, further proceedings on remand, or successful collateral attack. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.4 The Expense and Incentive
Award Applications may be considered by the Court separately from the proposed Stipulation and Settlement. Neither the disapproval or modification of the Expense and Incentive Award Applications by the Court nor the reversal or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
modification of Expense and Incentive Awards on appeal shall affect or delay the enforceability of this Stipulation, the Settlement, or the Judgment, or provide any of the Settling Parties with
the right to terminate the Stipulation or Settlement. Nor shall any such judicial action with respect to Expense and Incentive Award Applications, or Expense and Incentive Awards affect or delay the validity of any release granted pursuant to this
Stipulation and Settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <B>MISCELLANEOUS PROVISIONS</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.1 The Settling Defendants represent that they are solvent and fully competent and capable to fulfill their obligations under the terms of
this Settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.2 All of the Exhibits attached hereto are material and integral parts hereof and shall be incorporated by reference as
though fully set forth herein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.3 This Stipulation may not be amended or modified, nor may any of its provisions be waived, except by a
written instrument signed by counsel for all of the Settling Parties or their successors-in-interest. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.4 The headings herein are used for
the purpose of convenience only and are not meant to have legal effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.5 The Settling Parties represent and agree that the terms of the
Settlement were negotiated at arm&#146;s-length and in good faith by the Settling Parties, and reflect a settlement that was reached voluntarily based upon adequate information and sufficient discovery and after consultation with experienced legal
counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.6 The consummation of the Settlement as embodied in this Stipulation shall be under the authority of the Court, and the Court
shall retain jurisdiction for the purpose of entering orders with respect to the Fee Application and enforcing the terms of this Stipulation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.7 Without further Order of the Court, the Settling Parties may agree to reasonable extensions
of time to carry out any of the provisions of this Stipulation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.8 To the extent permitted by law, all agreements made and orders entered
during the course of the Consolidated Action relating to the confidentiality of documents or information shall survive this Stipulation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.9 This Stipulation and the Exhibits constitute the entire agreement between and among the Settling Parties with respect to the Settlement and
supersede any prior agreements among the Settling Parties with respect to the Settlement. No representations, warranties, or inducements have been made to or relied upon by any Settling Party concerning this Stipulation or its Exhibits, other than
the representations, warranties, and covenants expressly set forth in such documents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.10 This Stipulation may be executed in one or more
counterparts, including by facsimile and electronic mail. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.11 The Settling Parties and their respective counsel of record agree that they
will use their reasonable best efforts to obtain all necessary approvals of the Court required by this Stipulation (including, but not limited to, using their reasonable best efforts to resolve any objections raised to the Settlement). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.12 Counsel for the Settling Parties agree to cooperate fully with one another and use best efforts in seeking Court approval of the Notice
Order, the Stipulation and the Settlement, and to promptly agree upon and execute all such other documentation as may be reasonably required to obtain Final Court Approval of the Settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.13 Each counsel signing this Stipulation represents and warrants that such counsel has been
duly empowered and authorized to sign this Stipulation on behalf of his or her clients. Lead Plaintiff, Plaintiff Ezell, and Plaintiffs&#146; Counsel represent that Lead Plaintiff and Plaintiff Ezell are current shareholders of SandRidge and
continuously owned shares of SandRidge common stock at all times relevant to the claims in the Consolidated Action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.14 This Stipulation
shall not be construed more strictly against one Settling Party than another merely by virtue of the fact that it, or any part of it, may have been prepared by counsel for such Settling Party. The Settling Parties acknowledge that the Stipulation is
the result of arm&#146;s-length negotiations between the Settling Parties and that all Settling Parties have contributed substantially and materially to the preparation of this Stipulation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.15 This Stipulation is and shall be binding upon and shall inure to the benefit of the Settling Parties and all other Released Persons and
the respective legal representatives, heirs, executors, administrators, transferees, successors, and assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.16 Unless otherwise
provided herein, this Stipulation, the Settlement, and any and all disputes arising out of or relating in any way to this Stipulation or Settlement, whether in contract, tort, or otherwise, shall be governed by and construed in accordance with the
laws of the State of Delaware, without regard to conflicts-of-law principles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Settling Parties have caused this
Stipulation to be duly executed by their duly authorized attorneys as of the 31st day of March, 2016. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B><I>Plaintiffs Paul Elliot, on behalf of the Paul Elliot IRA R/O, Lisa Ezell, Jefferson L. Mangus, Tyler Mangus, Claudia D. Fanelli, Arthur I. Levine, Deborah Depuy, and Joan Brothers</I></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Reggie N. Whitten,
OBA #9576</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael Burrage, OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Randa K. Reeves, OBA #
30695</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1215 Classen Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oklahoma City,
Oklahoma 73103</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (405)&nbsp;516-7800</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile:
(405)&nbsp;516-7859</P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KAPLAN FOX&nbsp;&amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeffrey P. Campisi</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matthew P. McCahill</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">850 Third Avenue, 14th Floor</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10022</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (212)&nbsp;687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (212)&nbsp;687-7714</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">JACKSON WALKER L.L.P.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark T.
Josephs</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Andrew D. Graham</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">901 Main Street, Suite 6000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dallas, Texas 75202</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (214) 953-6000</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (214) 953-5822</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FEDERMAN&nbsp;&amp; SHERWOOD</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">William B. Federman</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10205 North Pennsylvania</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oklahoma City, Oklahoma 73120</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (405)&nbsp;235-1560</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (405)&nbsp;239-2112</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><I>The Special Litigation Committee of the Board of Directors of SandRidge Energy, Inc.</I></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FELLERS SNIDER, P.C.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Robert G.
McCampbell, OBA #10390</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Travis V. Jett, OBA #30601</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 N.
Broadway, Suite 1700</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) 232-0621
(phone)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(405) 232-9659 (fax)</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DEBEVOISE&nbsp;&amp; PLIMPTON LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Edwin G. Schallert</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Maeve O&#146;Connor</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">919 Third Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) 909-6000 (phone)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) 909-6836 (fax)</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Scott N. Auby</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">555 13th Street NW, Suite 1100E</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20004</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(202) 383-8000 (phone)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(202) 383-8118 (fax)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><I>Defendant TLW Land&nbsp;&amp; Cattle, L.P.</I></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CORBYN HAMPTON LAW FIRM</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">George S.
Corbyn, Jr., OBA #1910</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">211 North Robinson, Suite 1910</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One
Leadership Square</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oklahoma City, Oklahoma 73102</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone:
(405)&nbsp;239-7055</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: (405)&nbsp;702-4348</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LATHAM&nbsp;&amp; WATKINS LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Steven M. Bauer</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Margaret A. Tough</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">505 Montgomery Street, Suite 2000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Francisco, CA 94111</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (415)&nbsp;391-0600</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: (415)&nbsp;395-8085</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Everett C. Johnson, Jr.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">J. Christian Word</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Christopher J. Fawal</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">555 Eleventh Street, NW, Suite 1000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20004</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone: (202)&nbsp;637-2200</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: (202)&nbsp;637-2201</P></TD></TR></TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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<TD VALIGN="top" COLSPAN="3"><B><I>Defendants WCT Resources, L.L.C. and 192 Investments, L.L.C.</I></B></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">GARDERE WYNNE SEWELL LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Peter
Scaff (admitted <I>pro hac v&iacute;ce</I>)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Texas Bar No.&nbsp;24027837</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1000 Louisiana, Suite 3400</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Houston, Texas 77002</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Telephone: 713-276-5000</P></TD></TR>
</TABLE></DIV>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[PROPOSED] ORDER PRELIMINARILY APPROVING SETTLEMENT, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AUTHORIZING NOTICE, AND SETTING SETTLEMENT HEARING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on December&nbsp;22, 2015, the Court granted final approval to a partial settlement among (1)&nbsp;lead plaintiff Paul Elliot, on
behalf of the Paul Elliot IRA R/O, and plaintiffs Arthur I. Levine, Lisa Ezell, Jefferson L. Mangus, Tyler D. Mangus, Claudia D. Fanelli, Joan Brothers, and Deborah Depuy (each, a &#147;Plaintiff&#148;; collectively, &#147;Plaintiffs&#148;);
(2)&nbsp;the Special Litigation Committee (the &#147;SLC&#148;) of the Board of Directors (the &#147;Board&#148;) of nominal defendant SandRidge Energy, Inc. (&#147;SandRidge&#148; or the &#147;Company&#148;), and (3)&nbsp;defendants Jim J. Brewer,
Everett R. Dobson, William A. Gilliland, Daniel W. Jordan, Roy T. Oliver, Jr., Jeffrey S. Serota, and Tom L. Ward for $38 million in cash (subject to deductions for certain expenses that may be incurred as part of a separate securities class action)
and Corporate Governance Measures (ECF No.&nbsp;350); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on January&nbsp;28, 2016, Plaintiffs, the SLC, and defendants WCT
Resources, L.L.C., (&#147;WCT&#148;), 192 Investments, L.L.C. (&#147;192&#148;), and TLW Land&nbsp;&amp; Cattle, L.P. (&#147;TLW&#148;), (&#147;Settling Defendants&#148;) entered into a settlement of this derivative action (the
&#147;Settlement&#148;), as reflected in the Stipulation of Settlement dated March __, 2016 (the &#147;Stipulation&#148;), which sets forth the terms and conditions for the Settlement of the above-captioned shareholder derivative litigation (the
&#147;Consolidated Action&#148;), including an additional payment of $500,000, subject to review and approval by this Court pursuant to Rule 23.1 of the Federal Rules of Civil Procedure; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Plaintiffs have moved for an Order preliminarily approving the Settlement in accordance
with the terms of the Stipulation and providing for notice of the Settlement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Court having read and considered the
Stipulation and the exhibits thereto, including the proposed (i)&nbsp;Notice of Proposed Partial Settlement of Shareholder Derivative Litigation (the &#147;Notice&#148;); (ii)&nbsp;Summary Notice of Proposed Partial Settlement of Shareholder
Derivative Litigation (the &#147;Summary Notice&#148;); and (iii)&nbsp;proposed Final Order and Judgment, and finding that substantial and sufficient grounds exist for entering this Order: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, IT IS HEREBY ORDERED as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. This Order incorporates by reference the definitions in the Stipulation, and, unless otherwise herein defined, all capitalized terms used
herein shall have the same meanings as set forth in the Stipulation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. The Court preliminarily approves the Settlement on the terms set
forth in the Stipulation, subject to further consideration at a hearing to be held before this Court on , 2016, at &nbsp;&nbsp;&nbsp;&nbsp;:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.m., at the United States District
Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102 (the &#147;Settlement Hearing&#148;). At the Settlement Hearing, the Court will consider (a)&nbsp;whether the proposed Settlement of the Action, on the
terms and conditions set forth in the Stipulation, should receive final approval by the Court as fair, reasonable, and adequate, and in the best interests of SandRidge and Company Stockholders; (b)&nbsp;any objections to the proposed Settlement;
(c)&nbsp;whether the Court should enter the proposed Final Order and Judgment; (d)&nbsp;in the event the Settlement receives Final Approval as requested, any application by Co-Lead Counsel for an Expense Award, or any request by Plaintiffs for
Incentive Awards; and (e)&nbsp;any other matters as the Court may deem appropriate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. The Settlement Hearing may be continued or rescheduled without further notice to current
Company shareholders.<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> The Court further reserves the right to consider any modifications of the Settlement agreed to by the Settling Parties without providing further written notice to Current
Shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. The Court approves the form, content, and requirements of the Notice and the Summary Notice and finds that the filing,
posting, and publication of these notices, substantially in the manner and form set forth in this Order, meets the requirements of Rule 23.1 of the Federal Rules of Civil Procedure and due process, and constitutes due and sufficient notice of all
matters relating to the Settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. Within ten (10)&nbsp;business days of the date of entry of this Preliminary Approval Order,
SandRidge shall (i)&nbsp;file a copy of the Notice, substantially in the form attached hereto as Exhibit A-1, as an exhibit to a Form 8-K with the United States Securities and Exchange Commission; and (ii)&nbsp;post a copy of the Notice on
SandRidge&#146;s corporate website, along with a copy of the Stipulation, which documents shall remain posted on SandRidge&#146;s corporate website through the Effective Date of the Settlement. Kaplan Fox&nbsp;&amp; Kilsheimer LLP shall post a copy
of the Notice, along with a copy of the Stipulation, on its firm website. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Shareholders that owned SandRidge common stock as of March &nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such stock through the date of the Settlement Hearing, are current Company shareholders (&#147;Current
Shareholder&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. Within seven (7)&nbsp;business days of the date of filing of the Notice in accordance with the
provisions of paragraph 5 above, SandRidge or a notice administrator retained on behalf of the Company shall cause the Summary Notice, substantially in the form attached hereto as Exhibit A-2, to be published once via a national newswire service
such as Business Wire, Marketwire, or PR Newswire. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. Within fifteen (15)&nbsp;business days of the date of filing of the Notice in
accordance with the provisions of paragraph 5 above, SandRidge or a notice administrator retained on behalf of the Company shall mail a copy of the Notice to all shareholders of record as of the date on which the Preliminary Approval Order is
entered. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. At least twenty-one (21)&nbsp;calendar days before the Settlement Hearing, SandRidge&#146;s Counsel shall file with the Court
an appropriate proof of compliance with the notice procedures set forth in this Preliminary Approval Order. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. All papers in support of
the Settlement, and any Expense Award or Plaintiffs&#146; Incentive Awards, shall be filed with the Court and served no later than twenty-one (21)&nbsp;calendar days before the Settlement Hearing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. The Court will consider written objections to the proposed Settlement or the application for reimbursement of expenses, or Plaintiffs&#146;
request for incentive awards at the Settlement Hearing, but only if such objections, and any supporting papers, are mailed to each of the following, TO BE RECEIVED no later than fourteen (14)&nbsp;calendar days before the Settlement Hearing: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Clerk&#146;s Office</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF OKLAHOMA</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Clerk of the Court</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">200 N.W. 4th
St.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73102</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215 Classen Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City,
Oklahoma 73103</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for the WCT and 192</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">GARDERE WYNNE SEWELL LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Peter
Scaff</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1000 Louisiana, Suite 3400</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houston, Texas 77002</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone:
713-276-5000</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">pscaff@gardere.com</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for the SLC of SandRidge</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEBEVOISE &amp; PLIMPTON LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Maeve
O&#146;Connor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">919 Third Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mloconnor@debevoise.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for TLW</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LATHAM &amp; WATKINS, LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">J.
Christian Word</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">555 Eleventh Street, Suite 1000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Washington, D.C. 20004</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">christian.word@lw.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Written objections must provide a detailed signed statement of the objector&#146;s specific objections and must include all
documents such Person wishes the Court to consider, as well as a statement specifying the objector&#146;s name, address, telephone number, the number of shares of SandRidge common stock currently owned, and an account statement evidencing such
ownership. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. Any Current Shareholder may appear at the Settlement Hearing, in person or through counsel of his or her choice, to object
and show cause why: (i)&nbsp;the Settlement as set forth in the Stipulation should not be approved; (ii)&nbsp;the proposed Final Order and Judgment should not </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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be entered; or (iii)&nbsp;Co-Lead Counsels&#146; application for an Expense Award should not be granted in the amounts sought, or Plaintiffs&#146; request for Incentive Awards should not be
granted in the amounts sought; provided, however, that no Current Shareholder shall be entitled to appear or be heard, or be entitled to object to or otherwise contest any of the matters to be considered at the Settlement Hearing, unless such
Current Shareholder has: (i)&nbsp;filed with the Clerk of the Court, and (ii)&nbsp;served by hand, by first class U.S. mail, postage prepaid, or by reputable express carrier on the Clerk of the Court and each of the counsel listed in paragraph 10
above, the following materials, TO BE RECEIVED no later than fourteen (14)&nbsp;calendar days before the Settlement Hearing: (i)&nbsp;a notice of intention to appear at the Settlement Hearing; (ii)&nbsp;a statement specifying that person&#146;s
name, address, telephone number, the number of shares of SandRidge common stock currently owned, and a brokerage account statement evidencing such ownership; (iii)&nbsp;the name(s) of any attorney(s), if any, that will appear on the Current
Shareholder&#146;s behalf; and (iv)&nbsp;a statement of such Current Shareholder&#146;s position with respect to the Settlement, providing all supporting bases and reasons for the objection, including the identification of all witnesses, documents,
or other evidence that are to be presented at the Settlement Hearing in connection with the objection and a summary of the substance of the testimony to be given by any such witnesses. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. Any Current Shareholder who does not timely file and serve an objection in the manner provided in paragraphs 10 and 11 of this Order shall
be deemed to have waived any objection such person might have and shall forever be barred, in these proceedings or in any other proceeding, from making any objection to or otherwise challenging the Settlement of the Action, the Stipulation or any
provision thereof, the Final Order and Judgment, any Expense Award, or Incentive Awards, and/or any other proceedings herein, and shall have no right to appeal therefrom. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. Any replies to any objections to the Settlement, the application for reimbursement of
expenses or requests for incentive awards shall be filed and served no later than seven (7)&nbsp;calendar days before the Settlement Hearing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. Unless and until the Stipulation is terminated in accordance with its terms, neither SandRidge nor the Plaintiffs nor the SLC nor any other
party purporting to act on behalf of SandRidge shall commence or prosecute against any Released Claim against any Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. In
the event the Settlement is terminated or the Effective Date does not occur for any reason, then the Settlement shall be null and void and without prejudice, and none of its terms shall be effective or enforceable except as specifically provided in
the Stipulation; the Settling Parties shall be deemed to have reverted to their respective positions in this Litigation immediately prior to the execution of the Stipulation on March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016; and,
except as otherwise expressly provided, the Settling Parties shall proceed in all respects as if the Stipulation and any related orders had not been entered. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. Neither the Stipulation, nor any of its terms or provisions, nor any of the negotiations or proceedings connected with it, shall be
construed as an admission or concession by any of the Settling Defendants of the truth of any of the allegations in the Action, or of any liability, fault, or wrongdoing of any kind. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. The Court retains exclusive jurisdiction over the Litigation to consider all further matters arising out of or connected with the
Settlement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SO ORDERED. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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<TD VALIGN="top">DATED: _________________</TD>
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<TD VALIGN="bottom">LEE R. WEST</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">UNITED STATES DISTRICT JUDGE</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A-1 </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTICE OF PROPOSED SETTLEMENT OF </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHAREHOLDER DERIVATIVE LITIGATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">TO:</TD>
<TD ALIGN="left" VALIGN="top">ALL PERSONS WHO OWNED SHARES OF SANDRIDGE ENERGY, INC. (&#147;SANDRIDGE&#148; or the &#147;COMPANY&#148;) COMMON STOCK AS OF MARCH __, 2016 AND CONTINUE TO OWN SUCH SHARES. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of this Notice is to inform you about: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) a
proposed settlement (&#147;Settlement&#148;) in the <FONT STYLE="white-space:nowrap">above-captioned</FONT> shareholder derivative lawsuit (the &#147;Consolidated Action&#148;) among (1)&nbsp;lead plaintiff Paul Elliot, on behalf of the Paul Elliot
IRA R/O, and plaintiffs Arthur I. Levine, Lisa Ezell, Jefferson L. Mangus, Tyler D. Mangus, Claudia D. Fanelli, Joan Brothers, and Deborah Depuy (each, a &#147;Plaintiff&#148;; collectively, &#147;Plaintiffs&#148;); (2)&nbsp;the Special Litigation
Committee (&#147;SLC&#148;) of the Board of Directors (the &#147;Board&#148;) of nominal defendant SandRidge Energy, Inc. (&#147;SandRidge&#148; or the &#147;Company&#148;); and (3)&nbsp;Defendants WCT Resources L.L.C., (&#147;WCT&#148;), 192
Investments, L.L.C. (&#147;192&#148;), and TLW Land&nbsp;&amp; Cattle, L.P. (&#147;TLW&#148;) (&#147;Settling Defendants&#148;), as reflected in the Stipulation of Settlement (&#147;Stipulation&#148;) dated March &nbsp;&nbsp;&nbsp;&nbsp;, 2016, that
was filed with the Court and is available for review as indicated at paragraph &nbsp;&nbsp;&nbsp;&nbsp;below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(ii) the hearing that the Court will hold on
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 to determine whether to approve the Settlement and to consider Co-Lead Counsels&#146; application for reimbursement of litigation expenses incurred in the prosecution of
the Consolidated Action, and for incentive awards to certain Plaintiffs (the &#147;Settlement Hearing&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iii) current shareholders&#146; rights
with respect to the proposed Settlement, and Co-Lead Counsels&#146; application for reimbursement of expenses, and certain Plaintiffs&#146; request for incentive awards. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RIGHTS WILL BE AFFECTED BY THIS LITIGATION. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
December&nbsp;22, 2015, the Court granted final approval to a partial settlement among Plaintiffs, the SLC, Jim J. Brewer, Everett R. Dobson, William A. Gilliland, Daniel W. Jordan, Roy T. Oliver, Jr., and Jeffrey S. Serota (the &#147;Independent
Directors&#148;), and Tom L. Ward (&#147;Ward&#148;) for $38 million in cash (subject to deductions for certain expenses that may be incurred as part of a separate securities class action) and certain corporate governance measures (&#147;Dec. 22
Settlement&#148;). The Dec. 22 Settlement did not settle claims against WCT, 192, and TLW. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2016, the Stipulation was entered into between and among Plaintiffs and Defendants WCT, 192 and TLW, subject to the approval of the Court, pursuant to Rule 23.1 of the Federal Rules of Civil Procedure, for $500,000 in cash. If approved, the proposed
Settlement will resolve all remaining claims alleged in the Consolidated Action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Because this Consolidated Action was brought as a derivative action on
behalf of and for the benefit of SandRidge, any monetary benefits from the Settlement will go to SandRidge. Individual SandRidge shareholders will not receive any direct payment from the Settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following description of the Consolidated Action and Settlement does not constitute findings of the Court. It is based on statements of Plaintiffs and the
Settling Defendants (the &#147;Settling Parties&#148;) and should not be understood as an expression of any opinion of the Court as to the merits of any of the claims or defenses raised by any of the Settling Parties. The Court has not yet approved
the Settlement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT IS THE PURPOSE OF THIS NOTICE? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. The purpose of this Notice is to
explain the Consolidated Action, the terms of the proposed Settlement, and how the proposed Settlement affects SandRidge shareholders&#146; legal rights. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. In a derivative action, one or more people and/or entities who are current shareholders of a corporation sue on behalf of and for the
benefit of the corporation, seeking to enforce the corporation&#146;s legal rights. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. As described more fully below, current SandRidge shareholders<SUP
STYLE="font-size:85%; vertical-align:top">3</SUP> have the right to object to the proposed Settlement, the application by Co-Lead Counsel for expenses, and the request of certain Plaintiffs for incentive awards. Current SandRidge shareholders have
the right to appear and be heard at the Settlement Hearing, which will be held on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016, at _:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.m.,
before the Honorable Lee R. West, at the United States District Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102. At the Settlement Hearing, the Court will determine: (i)&nbsp;whether the Settlement
should be approved; (ii)&nbsp;whether the Released Claims against the Settling Defendants should be dismissed with prejudice as set forth in the Stipulation; and (iii)&nbsp;whether Co-Lead Counsels&#146; request for reimbursement of litigation
expenses, and certain Plaintiffs&#146; request for incentive awards should be approved by the Court. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT IS THIS CASE ABOUT? WHAT HAS
HAPPENED SO FAR? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. On March&nbsp;22, 2013, Plaintiffs Lisa Ezell, Jefferson L. Mangus, and Tyler Mangus filed a shareholder derivative action (the
&#147;<I>Ezell</I>&#148; action) entitled <I>Ezell v. Ward</I>, No. CIV-13-286-W. On April&nbsp;1, 2013, an amended complaint was filed in the <I>Ezell</I> action that alleged, among other things, claims against WCT and, 192 for aiding and abetting
the Independent Directors breach of fiduciary duties and for civil conspiracy. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. On April&nbsp;10, 2013, the Court consolidated the
<I>Ezell</I> action with the four similar actions, appointed Paul Elliot, on behalf of the Paul Elliot IRA R/O as Lead Plaintiff, and appointed Kaplan Fox&nbsp;&amp; Kilsheimer LLP (&#147;Kaplan Fox&#148;) and Whitten Burrage as Co-Lead Counsel for
the Consolidated Action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. On May&nbsp;1, 2013, Plaintiffs filed a Verified Consolidated Shareholder Derivative Complaint (the
&#147;Complaint&#148;) in the Consolidated Action asserting claims on behalf of SandRidge against the Settling Defendants as well as the Independent Directors, and Ward; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. On June&nbsp;3, 2013, the Independent Directors, Ward, and the Settling Defendants (collectively, &#147;Defendants&#148;) moved to dismiss
the Complaint. Following extensive briefing, on September&nbsp;11, 2013, the Court issued an Order dismissing the Complaint, and granting Plaintiffs leave to file an amended complaint. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Shareholders that owned SandRidge common stock as of March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such stock through
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016, the date of the Settlement Hearing, are current SandRidge shareholders (&#147;Current Shareholder&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. On October&nbsp;9, 2013, Plaintiffs filed a Consolidated, Amended and Verified Shareholder
Derivative Complaint (the &#147;Amended Complaint&#148;). The Amended Complaint realleged all of the claims alleged in the Complaint, except for the claims for constructive fraud, civil conspiracy, and claims under the Securities Exchange Act of
1934. On November&nbsp;15, 2013, Defendants moved to dismiss the Amended Complaint. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. Following extensive briefing, on September&nbsp;22,
2014, the Court issued orders denying the Independent Directors&#146; motion in its entirety, denying Ward and TLW&#146;s motion as to the claims for misappropriation of SandRidge&#146;s assets and denying TLW&#146;s motion as to the claims for
unjust enrichment, and denying 192 and WCT&#146;s motion as to the claims for misappropriation of SandRidge&#146;s assets and unjust enrichment. <I>In re SandRidge Energy, Inc. S&#146;holder Derivative Litig.</I>, 302 F.R.D. 628 (W.D. Okla. 2014).
The motions to dismiss were granted as to all other causes of action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. On September&nbsp;26, 2014, the Board of Directors of SandRidge
formed the SLC. On October&nbsp;9, 2014, the SLC moved for a six-month stay of the Consolidated Action in order to facilitate an independent review, investigation, and determination with respect to the claims asserted by Plaintiffs. Plaintiffs
opposed this motion. Following extensive briefing, on October&nbsp;22, 2014, the Court issued an Order denying the SLC&#146;s motion to stay the Consolidated Action. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. Starting in October 2014, the parties engaged in discovery. Plaintiffs served numerous document requests and interrogatories. Plaintiffs
also served several subpoenas to non-parties, including land brokers. To date, hundreds of thousands of documents have been produced and Plaintiffs&#146; counsel have taken several depositions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. On January&nbsp;30 and March&nbsp;27, 2015, the parties mediated before former U.S. District Judge Layn R. Phillips. After the mediations,
the parties continued negotiations with the assistance of Judge Phillips. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. Plaintiffs, SandRidge, the SLC, the Independent Directors,
Ward and, their insurers reached an agreement to settle all Claims asserted in the Action, with the exception of Claims against WCT, 192, and TLW, on the terms set forth in the Oct. 8 Stipulation. On December&nbsp;22, 2015, the Court entered a Final
Order and Judgment in which, among other things, the Court granted final approval to the proposed partial settlement as memorialized in the Oct. 8 Stipulation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. Plaintiffs and the Settling Defendants continued negotiations with the assistance of Judge Phillips, and on January&nbsp;28, 2016,
Plaintiffs and the Settling Defendants agreed to settle on the terms set forth herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. Plaintiffs and the Settling Defendants entered into the Stipulation on
March&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2016, and on March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016, the Court preliminarily approved the Settlement in which, among other things, the Court (i)&nbsp;directed that this
Notice be mailed to all shareholders of record as of March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 attached as an exhibit to a Form 8-K filed with the U.S. Securities and Exchange Commission, and be posted, along with a copy of the
Stipulation, on SandRidge&#146;s corporate website and on Kaplan Fox&#146;s website, and (ii)&nbsp;scheduled the Settlement Hearing to consider whether to grant Final Approval to the Settlement. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT ARE THE BENEFITS OFTHE SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. In exchange for the Release
described below in Paragraphs &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, the Settling Defendants&#146; have agreed to make a payment of $500,000 (the &#147;Settlement Payment&#148;), which
shall be paid to the Company to the extent that funds remain after deducting Taxes and any Expense Award and Incentive Awards, as defined in the Stipulation. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT ARE PLAINTIFFS&#146; REASONS
FORTHE SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. Plaintiffs and Co-Lead Counsel believe that the claims asserted against the Settling Defendants have merit. Plaintiffs and Co-Lead Counsel
recognize, however, the expense and length of continued proceedings necessary to pursue their claims against the Settling Defendants through trial and appeal. Plaintiffs and Co-Lead Counsel have taken into account the possibility that the claims
asserted in the Amended Complaint might have been dismissed in response to motions for summary judgment by the Settling Defendants, and have also considered the defenses available to the Settling Defendants at trial and other issues that would have
been decided by a jury in the event of a trial of the Consolidated Action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. In light of the cash payment created by the Settlement,
Plaintiffs and Co-Lead Counsel, the Company, and the SLC believe that the proposed Settlement is fair, reasonable, adequate, and in the best interests of SandRidge. The Settlement provides immediate material benefits to SandRidge without the risk
that continued litigation could result in obtaining similar or lesser relief for SandRidge after continued extensive and expensive litigation, including trial and the appeals that were likely to follow. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. The Settling Defendants have denied the claims asserted against them and disclaim any liability or damages or having engaged in any
wrongdoing or violation of law of any kind whatsoever and have entered into the Settlement solely in order to avoid the expense, risk, distraction, and uncertainty of further litigation. Accordingly, the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Settlement may not be construed as an admission of the Settling Defendants&#146; wrongdoing, nor construed or deemed to be evidence of or an admission or concession on the part of any Settling
Defendant with respect to the merits of any claim, nor of any infirmity in the defenses that the Settling Defendants have, or could have, asserted in this Consolidated Action. Likewise, the Settlement shall in no event be construed or deemed to be
evidence of or an admission or concession on the part of any Plaintiff of any infirmity in the claims that Plaintiffs have, or could have, asserted. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT MIGHT HAPPEN IF THERE WERE NO
SETTLEMENT? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. If there were no Settlement and Plaintiffs failed to establish any essential legal or factual element of their claims, SandRidge would not
receive any of the benefits of the Settlement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHAT CLAIMS WILL THE SETTLEMENT RELEASE? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. If the Settlement is approved,
the Court will enter a judgment (the &#147;Judgment&#148;). Plaintiffs, SandRidge, the SLC (on behalf of the Company), and all Company Stockholders (derivatively on behalf of the Company) shall, by operation of the Judgment and to the fullest extent
permitted by law, (i)&nbsp;release and be deemed to release and forever discharge the Released Claims (including Unknown Claims) against the Released Persons, (ii)&nbsp;covenant and be deemed to covenant not to prosecute any Released Claims
(including Unknown Claims) against any Released Persons, and (iii)&nbsp;forever be barred and enjoined from asserting any Released Claims (including Unknown Claims) against any Released Persons. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. &#147;Released Claims&#148; means any and all Claims held directly by SandRidge or derivatively on behalf of SandRidge, that have been or
could have been, or in the future can or might be, asserted by SandRidge, or derivatively on behalf of SandRidge, in any court, tribunal, or proceeding against any Released Person, arising out of or relating in any way, directly or indirectly, to
any facts, circumstances, conduct, or allegations asserted in the Consolidated Action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. &#147;Released Persons&#148; means WCT, 192
and, TLW, and with respect to each Settling Defendant, their current and former parents, subsidiaries, affiliates, predecessors, successors, assigns, agents, attorneys, financial or business advisors, auditors, consultants,&nbsp;representatives,
executors, trustees, partners or general or limited partnerships,&nbsp;administrators, and insurers, solely in each of their capacities as such.&nbsp;&#147;Released Persons&#148; also includes each Settling Defendant&#146;s owners, stockholders,
members, officers, directors, managers, employees, principals, and each such person&#146;s spouses, family members, and estates, solely in each of their capacities as such. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">24. &#147;Unknown Claims&#148; means any Released Claims that SandRidge, the SLC, Plaintiffs, or
any other Company Stockholder does not know or suspect to exist in his, her, or its favor at the time of the release of the Released Persons. With respect to any and all Claims released by this Stipulation, the Settling Parties and all Company
Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived the provisions, rights, and benefits of California Civil Code &#167;1542, which provides: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Settling Parties and all Company
Stockholders shall be deemed to have, and by operation of the Judgment shall have, waived any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law, which is similar,
comparable, or equivalent to California Civil Code &#167;1542. The Settling Parties and all Company Stockholders may hereafter discover facts in addition to or different from those which he, she, or it now knows or believes to be true with respect
to the Claims released by this Settlement but nonetheless, upon the Effective Date, shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever settled and released all such Claims, known or unknown, suspected
or unsuspected, contingent or non-contingent, accrued or unaccrued, whether or not concealed or hidden, which now exist, or heretofore have existed upon any theory of law or equity now existing or coming into existence in the future, including, but
not limited to, conduct which is negligent, intentional, with or without malice, or a breach of any duty, law or rule, without regard to the subsequent discovery or existence of such different or additional facts. The Settling Parties and all
Company Stockholders shall be deemed by operation of the Judgment to have acknowledged that the foregoing waivers were separately bargained for and are key elements of this Settlement and the releases granted herein. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHO REPRESENTS PLAINTIFFS AND HOW WILL THE ATTORNEYS BE PAID? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">25. On April&nbsp;10, 2013, the Court
appointed Kaplan Fox and Whitten Burrage as Co-lead Counsel in the Consolidated Action. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">26. Co-Lead Counsel intends to apply to the Court for reimbursement of expenses incurred in
connection with the prosecution of the Consolidated Action in an amount not to exceed $120,000, and for incentive awards for Plaintiffs Elliot and Ezell in the amount of $15,000 each from the $500,000 settlement payment. The Court will determine the
ultimate amount of any expense award or incentive awards, and the Settlement is not conditioned upon such awards. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHEN AND WHERE WILL THE COURT RULE ON APPROVAL OF THE </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SETTLEMENT? DO I HAVE TO COME TO THE HEARING? MAY I SPEAK AT </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE HEARING? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">27. The Settlement Hearing will be
held on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2016, at &nbsp;&nbsp;&nbsp;&nbsp;:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.m., before the Honorable Lee R. West, at the United States District Court for the
Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102. The Court may approve the Settlement or the application for expenses, and certain Plaintiffs&#146; request for incentive awards at or after the Settlement Hearing
without further notice to Current Shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">28. If you owned SandRidge common stock as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such stock through &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016, the date of the Settlement Hearing, you may, if you
wish to do so, comment to the Court on the proposed Settlement and/or the application for reimbursement of litigation expenses. Company Stockholders who do not wish to object in person to the proposed Settlement and/or the application for expenses
or incentive awards, do not need to attend the Settlement Hearing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">29. Co-Lead Counsel will file papers with the Court in support of the
Settlement and application for expenses incurred in connection with the prosecution of the Consolidated Action, and for incentive awards to Plaintiffs on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">30. Objections or oppositions must be in writing and must be filed together with proof that you owned shares of SandRidge common stock as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such shares, with the Clerk&#146;s Office at the address set forth below on or before , 2016. You must also serve the papers on Co-Lead Counsel and
Defendants&#146; Counsel at the addresses set forth below so that the papers are <I>received </I>on or before &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">31. Co-Lead Counsel will file reply papers with the Court, if any, on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Clerk&#146;s Office</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">UNITED STATES DISTRICT COURT FOR</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE WESTERN DISTRICT OF OKLAHOMA</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Clerk of the Court</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">200 N.W. 4th
St.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73102</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage,
OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215 Classen Drive</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for the WCT and 192</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">GARDERE WYNNE SEWELL LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Peter
Scaff</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1000 Louisiana, Suite 3400</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houston, Texas 77002</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone:
713-276-5000</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">pscaff@gardere.com</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for the SLC of SandRidge</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEBEVOISE &amp; PLIMPTON LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Maeve
O&#146;Connor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">919 Third Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mloconnor@debevoise.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Counsel for TLW</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LATHAM &amp; WATKINS, LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">J.
Christian Word</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">555 Eleventh Street, Suite 1000</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Washington, D.C. 20004</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">christian.word@lw.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">32. A Company Stockholder who or which wishes to be heard orally at the hearing in opposition to the approval
of the Settlement, Co-Lead Counsels&#146; request for reimbursement of expenses, or Plaintiffs&#146; request for incentive awards, and has filed and served a timely written objection as described above, also must notify the above counsel on or
before &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 concerning his, her, or its intention to appear. Company Stockholders who or which intend to object and desire to present evidence at the Settlement Hearing must
include in their written objections the identity of any witnesses they may call to testify at the Settlement Hearing and the exhibits they intend to introduce into evidence at the Settlement Hearing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">33. The Settlement Hearing may be adjourned by the Court without further written notice to Current Shareholders. If you intend to attend the
Settlement Hearing, you should confirm the date and time with Co-Lead Counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">34. Unless the Court orders otherwise, any Company
Stockholder who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, Co-Lead Counsels&#146; request for reimbursement of
expenses, or Plaintiffs&#146; request for incentive awards. Company Stockholders do not need to appear at the hearing or take any other action to indicate their approval. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CAN I SEE THE COURT FILE? WHOM SHOULD I CONTACT IF I HAVE QUESTIONS? </P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">35. This Notice contains only a
summary of the terms of the proposed Settlement. More detailed information about the Consolidated Action is available at www.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.com/SandRidge, or <U>www.kaplanfox.com</U>,
including, among other documents, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">the Amended Complaint and the Stipulation of Settlement. You or your attorney may examine the Court files for <I>In re
SandRidge Energy, Inc. Shareholder Derivative Litigation, </I>No. CIV-13-102-W during regular business hours at the Western District of Oklahoma Court. Questions about the Settlement or about this Notice in general should be directed to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Co-Lead Counsel</U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage,
OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215 Classen Drive</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You should ask Co-Lead Counsel to confirm receipt of any email correspondence regarding the Settlement of this Notice within
three business days. If Co-Lead Counsel do not confirm receipt within three business days, you should call to ensure receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DO NOT CALL
OR WRITE THE COURT OR THE OFFICE OF THE CLERK OF </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COURT REGARDING THIS NOTICE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: March &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By Order of the Clerk of Court United States District Court </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">for
the Western District of Oklahoma </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A-2 </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LITIGATION</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SUMMARY NOTICE OF PROPOSED SETTLEMENT OF SHAREHOLDER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>DERIVATIVE LITIGATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>TO:</B></TD>
<TD ALIGN="left" VALIGN="top"><B></B>ALL PERSONS WHO OWN SHARES OF SANDRIDGE ENERGY, INC. (&#147;SANDRIDGE&#148; or the &#147;COMPANY&#148;) COMMON STOCK AS OF MARCH &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 AND CONTINUE TO OWN SUCH
SHARES. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">YOU ARE HEREBY NOTIFIED, pursuant to Rule 23.1 of the Federal Rules of Civil Procedure and an Order of the United States District
Court for the Western District of Oklahoma (the &#147;Court&#148;), of (i)&nbsp;the pendency of the above-captioned shareholder derivative litigation (the &#147;Litigation&#148; or &#147;Action&#148;), which was brought by certain SandRidge
shareholders on behalf of and for the benefit of SandRidge; and (ii)&nbsp;a proposed settlement of the Litigation (the &#147;Settlement&#148;), subject to Court approval for consideration as provided in a Stipulation of Settlement (the
&#147;Stipulation&#148;) that is filed with the Court and available for review as indicated below, and a payment of $500,000 in cash (the &#147;Settlement Payment&#148;) by defendants WCT Resources L.L.C., (&#147;WCT&#148;), 192 Investments, L.L.C.
(&#147;192&#148;), and TLW Land&nbsp;&amp; Cattle, L.P. (&#147;TLW&#148;) (collectively, the &#147;Settling Defendants&#148;) to SandRidge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A hearing
will be held on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016, at &nbsp;&nbsp;&nbsp;&nbsp;:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m, before the Honorable Lee R. West, at the United States District Court for
the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102 (the &#147;Settlement Hearing&#148;) to determine (i)&nbsp;whether the proposed Settlement should be approved; (ii)&nbsp;whether the Released Claims against the
Settling Defendants should be dismissed with prejudice as set forth in the Stipulation; (iii)&nbsp;whether Co-Lead Counsels&#146; request for reimbursement of litigation expenses should be approved by the Court; and (iv)&nbsp;whether certain
Plaintiffs&#146; request for incentive awards should be approved by the Court. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IF THE SETTLEMENT IS APPROVED, THE RIGHTS OF SANDRIDGE SHAREHOLDERS TO
PURSUE CLAIMS ON BEHALF OF SANDRIDGE WHICH ARE BEING RELEASED PURSUANT TO THE SETTLEMENT WILL BE AFFECTED. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Please Note</U>: Because this Litigation
was brought as a derivative action, which means that it was brought on behalf of and for the benefit of the Company, any monetary benefits from the Settlement Payment will go to SandRidge. In a derivative action, individual shareholders do not
receive any direct monetary recovery from the settlement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A more detailed Notice of Proposed Partial Settlement of Shareholder Derivative Litigation (the
&#147;Notice&#148;) that provides additional information concerning the Litigation, the terms of the proposed Settlement, and SandRidge shareholders&#146; legal rights with respect to the proposed Settlement and the application for reimbursement of
litigation expenses, and request for Plaintiffs&#146; incentive awards, along with copies of the Stipulation and other documents filed in the Litigation, can be obtained from Kaplan Fox&nbsp;&amp; Kilsheimer LLP&#146;s (&#147;Kaplan Fox&#146;)
website (<U>www.kaplanfox.com</U>), or the Company&#146;s website (<U>www.sandridgeenergy.com</U>). The notice has been mailed to all shareholders of record as of <B>[the date on which the Preliminary Approval Order is entered]</B>. The Notice has
also been filed as an exhibit to the Form 8-K filed with the U.S. Securities and Exchange Commission by SandRidge on , 2016 and it is posted on SandRidge&#146;s website
<U>www.sandridgeenergy.com/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, and Kaplan Fox&#146;s website (<U>www.kaplanfox.com)</U>. You may also examine the Court files for the Litigation during regular business hours
at the United States District Court for the Western District of Oklahoma, 200 N.W. 4th Street, Oklahoma City, Oklahoma 73102. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you owned shares of
SandRidge common stock as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such shares through &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 (the date of the
Settlement Hearing), you may, if you wish to do so, comment to the Court on the proposed Settlement, the application for reimbursement of litigation expenses, and Plaintiffs&#146; request for incentive awards. Any objections to the proposed
Settlement, the application for reimbursement of expenses, or Plaintiffs&#146; request for incentive awards must be filed with the Court and delivered to Co-Lead Counsel and Counsel for each of the Settling Defendants no later than
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016, in accordance with the instructions set forth in the Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PLEASE DO
NOT CONTACT THE COURT OR THE CLERK&#146;S OFFICE REGARDING THE SETTLEMENT AND THIS NOTICE. All inquiries may be made to Co-Lead Counsel: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KAPLAN FOX &amp; KILSHEIMER LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Robert N. Kaplan</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">850 Third Avenue,
14th Floor</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (212) 687-1980</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (212) 687-7714</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">rkaplan@kaplanfox.com</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Co-Lead Counsel</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WHITTEN BURRAGE</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Michael Burrage, OBA #1350</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1215
Classen Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Oklahoma City, Oklahoma 73103</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (405) 516-7800</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (405) 516-7859</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">mburrage@whittenburragelaw.com</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Co-Lead Counsel</I></B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You should ask Co-Lead Counsel to confirm receipt of any email correspondence regarding the Settlement or the notice within
three business days. If Co-Lead Counsel do not confirm receipt within three business days, you should call to ensure receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By Order of the Clerk of
Court United States District Court </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">for the Western District of Oklahoma </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT B </B></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IN THE UNITED STATES DISTRICT COURT FOR THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WESTERN DISTRICT OF OKLAHOMA </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IN RE SANDRIDGE ENERGY, INC.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SHAREHOLDER DERIVATIVE</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LITIGATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Case No. CIV-13-102-W</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Relating to All Derivative Actions</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[PROPOSED] FINAL ORDER AND JUDGMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A final Settlement Hearing was held before this Court on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2016 pursuant to this Court&#146;s
Preliminary Approval Order of March &nbsp;&nbsp;&nbsp;&nbsp;, 2016, to determine: (i)&nbsp;whether to grant Final Approval to the Settlement set forth in the Stipulation of Settlement, dated March &nbsp;&nbsp;&nbsp;&nbsp;, 2016 which Stipulation is
incorporated herein by reference; (ii)&nbsp;whether to enter the Final Order and Judgment proposed by the Settling Parties; and, separately, (iii)&nbsp;whether and/or in what amount to grant the application by Co-Lead Counsel for an Expense Award,
and Plaintiffs&#146; Request for Incentive Awards. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">After due and sufficient notice having been given in accordance with the provisions of
the Preliminary Approval Order, and all Persons having any objection to the proposed Settlement, the request for an Expense Award, or request for Incentive Awards, having been given an opportunity to present such objections to the Court; the Court
having heard and considered the matter, including all papers filed in connection therewith and the oral presentations of counsel and any objections raised at the hearing; and good cause appearing therefor, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THE COURT HEREBY FINDS AND ORDERS,</B> as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. Unless otherwise defined herein, all defined terms have the meanings set forth in the Stipulation or the Preliminary Approval Order, as
applicable. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. This Court has jurisdiction over the subject matter of the Consolidated Action and the
Settling Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. The Court hereby finds that notice of the Settlement was (i)&nbsp;provided pursuant to and in the form and manner
directed by the Preliminary Approval Order, (ii)&nbsp;meets the requirements of Rule 23.1 of the Federal Rules of Civil Procedure and due process, and (iii)&nbsp;constitutes due and sufficient notice to all interested persons and entities of all
matters relating to the Settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. Pursuant to and in compliance with Rule 23.1 of the Federal Rules of Civil Procedure and due
process, the Court hereby finds that the notice provided advised persons and entities in interest of the terms of the Settlement, of Co-Lead Counsels&#146; intent to apply for reimbursement of litigation expenses incurred in connection with the
prosecution of the Consolidated Action, of certain Plaintiffs&#146; intent to request incentive awards, and of their right to object thereto, and a full and fair opportunity was accorded to all persons and entities in interest to be heard with
respect to the foregoing matters. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. The Court hereby grants final approval to the Settlement as set forth in the Stipulation, and finds
that the Settlement is, in all respects, fair, reasonable, and adequate, and in the best interests of SandRidge and the current Company shareholders.<SUP STYLE="font-size:85%; vertical-align:top">4</SUP> This Court further finds that the Settlement
set forth in the Stipulation is the result of arm&#146;s-length negotiations between experienced counsel representing the interests of the Settling Parties. Accordingly, the Settlement embodied in the Stipulation is hereby approved in all respects
and shall be consummated in accordance with the terms and provisions of the Stipulation. </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Shareholders that owned SandRidge common stock as of March &nbsp;&nbsp;&nbsp;&nbsp;, 2016 and continue to own such stock through the date of the Settlement Hearing, are current Company shareholders (&#147;Current
Shareholder&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. All Claims against the Settling Defendants are hereby dismissed with prejudice from the
Consolidated Action. The Settling Parties shall bear their own fees, costs, and/or expenses except as provided in the Stipulation and the Preliminary Approval Order. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. As of the Effective Date, Plaintiffs (acting on their own behalf and on behalf of SandRidge and the Current Shareholders), the Company, and
all Current Shareholders shall, to the fullest extent allowed by law and by operation of the Settlement and this Final Order and Judgment: (i)&nbsp;fully and finally release and forever discharge and be deemed to have released and forever discharged
the Released Claims against the Settling Defendants and other Released Persons; (ii)&nbsp;covenant and be deemed to have covenanted not to sue any of the Settling Defendants and other Released Persons with regard to any Released Claims; and
(iii)&nbsp;forever be barred and enjoined from asserting any Released Claims against any Settling Defendants or other Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.
As of the Effective Date, the Released Persons shall, to the fullest extent allowed by law and by operation of the Settlement and this Final Order and Judgment: (i)&nbsp;fully and finally release and forever discharge and be deemed to have released
and forever discharged any and all claims that could have been asserted against Plaintiffs and Plaintiffs&#146; Counsel arising out of or related to the institution, prosecution, assertion, settlement or resolution of this Consolidated Action;
(ii)&nbsp;covenant and be deemed to have covenanted not to sue any of the Plaintiffs and Plaintiffs&#146; Counsel with regard to any and all claims that could have been asserted against Plaintiffs arising out of or related to the institution,
prosecution, assertion, settlement, or resolution of this Consolidated Action; and (iii)&nbsp;forever be barred and enjoined from asserting any and all claims that could have been asserted against Plaintiffs and Plaintiffs&#146; Counsel arising out
of or related to the institution, prosecution, assertion, settlement, or resolution of this Consolidated Action. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. The Stipulation and any negotiations, proceedings, or agreements relating to it shall not be
offered or received against any of the Settling Parties as evidence of or construed as or deemed to be evidence of (a)&nbsp;any liability, negligence, fault, or wrongdoing of any of the Settling Parties, (b)&nbsp;a presumption, concession, or
admission with respect to any liability, negligence, fault, or wrongdoing, (c)&nbsp;a presumption, concession, or admission by any of the Settling Defendants with respect to the truth of any fact alleged in the Consolidated Action or the validity of
any of the claims or the deficiency of any defense that was or could have been asserted in the Consolidated Action, (d)&nbsp;a presumption, concession, or admission by Plaintiffs of any infirmity in the claims asserted, or (e)&nbsp;an admission or
concession that the consideration to be given hereunder represents the consideration which could be or would have been recovered at trial. The Stipulation and any negotiations, proceedings, or agreements relating to it shall not be in any way
referred to for any reason as against any of the Settling Parties, in any other civil, criminal, or administrative action or proceeding, other than such proceedings as may be necessary to effectuate the provisions of the Stipulation or to establish
a settlement-related defense, including but not limited to a defense based on res judicata or the releases or other provisions of the Stipulation and this Final Order and Judgment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. Without in any way affecting the finality of this Final Order and Judgment, this Court shall retain jurisdiction with respect to the
implementation and enforcement of the terms of the Stipulation and with respect to any orders regarding any Expense Award or Incentive Awards. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. This Settlement shall be a final and complete resolution of all disputes among the Settling
Parties with respect to the Consolidated Action. No Settling Party may assert in any forum that the Consolidated Action was brought, commenced, or prosecuted by Plaintiffs or Co-Lead Counsel, or defended by the Settling Defendants or their counsel,
in bad faith or that the Consolidated Action was not filed or raised in good faith or was not settled voluntarily after negotiating at arm&#146;s-length and in good faith after consultation with competent legal counsel. No claims of any violation of
Rule 11 of the Federal Rules of Civil Procedure relating to the prosecution, defense, or settlement of the Consolidated Action may be brought by any Settling Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. Pending the occurrence of the Effective Date, no person may institute, commence, or prosecute any action which asserts Released Claims
against any of the Released Persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. In the event the Settlement is terminated or the Effective Date cannot occur for any reason, then
the Settlement shall be without prejudice, and none of its terms, shall be effective or enforceable except as specifically provided in the Stipulation; the Settling Parties shall be deemed to have reverted to their respective positions in this
Consolidated Action immediately prior to the execution of the Stipulation on March &nbsp;&nbsp;&nbsp;&nbsp;, 2016; and, except as otherwise expressly provided, the Settling Parties shall proceed in all respects as if the Stipulation and any related
orders had not been entered. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. Without further order of the Court, the Settling Parties may agree to reasonable extensions of time to
carry out any of the provisions of the Stipulation. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SO ORDERED. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-size:10pt">DATED:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<TD VALIGN="bottom">LEE R. WEST</TD>
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<TD VALIGN="bottom">UNITED STATES DISTRICT JUDGE</TD>
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