The shares were sold to George B. Kaiser, an Oklahoma businessman, for anaggregate price of $50 million, or $5.62 per share. The parties also agreedthat Mr. Kaiser will have the ability to sell the shares back to Mr. Ward atthe same price on February 16, 2009. In a related transaction, existingrights held by the Kaiser-Francis Charitable Income Trust C, a charitableincome trust established by Mr. Kaiser, were amended and restated as five-yearwarrants to purchase approximately 6.67 million shares from Mr. Ward at anexercise price of $5.62 per share, subject to certain adjustments.

Mr. Ward commented, "This was necessary for debt service and tax planningneeds. Although I am disappointed to sell shares at this price, I am pleasedto have completed a negotiated private transaction with such a highly regardedinvestor rather than an open-market sale. I continue to have the highestregard for our company and the assets we hold. I am also pleased to haveGeorge Kaiser, a prominent businessman and long time energy expert, as anowner of SandRidge."

For further information, please contact: Kevin R. White Senior Vice President SandRidge Energy, Inc. 123 Robert S. Kerr Avenue Oklahoma City, Oklahoma 73102-6406 (405) 429-5515 SandRidge Energy, Inc. is a natural gas and crude oil companyheadquartered in Oklahoma City, Oklahoma with its principal focus onexploration and production. SandRidge and its subsidiaries also own andoperate gas gathering and processing facilities and CO2 treating andtransportation facilities and conduct marketing and tertiary oil recoveryoperations. In addition, Lariat Services, Inc., a wholly-owned subsidiary ofSandRidge, owns and operates a drilling rig and related oil field servicesbusiness. SandRidge focuses its exploration and production activities in WestTexas, the Cotton Valley Trend in East Texas, the Gulf Coast, the Mid-Continent, and the Gulf of Mexico. SandRidge's Internet address iswww.sandridgeenergy.com.

SOURCE SandRidge Energy, Inc.