Glass, Lewis & Co. Recommends SandRidge Energy Stockholders Replace a Majority of the Board

  Glass, Lewis & Co. Recommends SandRidge Energy Stockholders Replace a
  Majority of the Board

  - Highlights Poor Financial Performance, Excessive Compensation and Dismal
                                 Governance -

   - Echoes ISS’s Recommendation that SandRidge Stockholders Vote the GREEN
              Consent Card in Support of TPG-Axon’s Proposals -

- TPG-Axon Requests Stockholders Return Their GREEN Consent Cards to Elect Its
                           Full Slate of Nominees -

Business Wire

NEW YORK -- February 21, 2013

TPG-Axon, beneficial owner of seven percent of the outstanding shares of
SandRidge Energy, Inc. (NYSE: SD) (the “Company”), today announced that Glass,
Lewis & Co. (Glass Lewis), a leading independent proxy voting and corporate
governance advisory firm, has recommended SandRidge stockholders vote the
GREEN consent card in support of TPG-Axon’s proposals.

Specifically, Glass Lewis recommends SandRidge’s bylaws be amended to
destagger the Board, that six incumbent directors be removed, including
SandRidge Chief Executive Officer Tom Ward, and that independent director
nominees Stephen C. Beasley, Edward W. Moneypenny, Dinakar Singh, Alan J.
Weber, Dan A. Westbrook and Peter H. Rothschild be elected to the Board. Glass
Lewis also recommends stockholders NOT VOTE the white consent card provided by
SandRidge.

TPG-Axon recommends stockholders vote its full slate of independent directors
including Mr. Beasley, Mr. Moneypenny, Mr. Singh, Mr. Weber, Mr. Westbrook,
Mr. Rothschild and Fredric G. Reynolds. TPG-Axon requests that stockholders
return their signed and dated GREEN consent cards promptly, to ensure that
their consent cards are received by SandRidge prior to March 15, 2013, the
deadline for submitting consents.

In its recommendation, Glass Lewis noted the following:

  *“We agree with TPG-Axon that independent shareholders would strongly
    benefit from fresh, external perspectives and a substantial overhaul of
    board level oversight.”
  *“…we find an equally dismal corporate governance landscape marred by
    regressive practices, poorly-implemented compensation policies and a
    general lack of substantive oversight.”
  *“As a rule, we are reticent to recommend the removal of incumbent board
    members, or in favor of dissident nominees, unless one of the following
    two things has occurred: (i) there are serious problems at the company and
    the newly proposed nominees have a clear and realistic plan to solve these
    problems; or (ii) the current board has undertaken an action clearly
    contrary to the interests of shareholders (or failed to undertake an
    action clearly to the benefit of shareholders).”
  *“We agree with the Dissident that there is sufficient cause to doubt the
    board's assessment of certain related party transactions, particularly
    those related to CEO Tom Ward…We believe it is entirely reasonable for
    independent shareholders to question how the continued involvement of a
    conflicted CEO could possibly benefit SandRidge over any term…”

In reaching its conclusion, Glass Lewis stated:

  *“Taken collectively, we find the foregoing issues strongly indicative of a
    board sorely unprepared to create or protect shareholder value, or,
    indeed, effectively oversee a CEO that has, by virtually any meaningful
    standard, steered SandRidge toward peer-worst performance since the
    Company's initial public offering. In lieu of offering owners any
    value-additive rebuttal to these concerns, it appears the board has opted
    to double down on its poor pattern of practice by adopting a shareholder
    rights plan and clumsily wielding the threat of violated debt covenants
    and potential executive severance payments as a cudgel to maintain the
    status quo.”

“We are pleased that a second highly-respected, independent proxy advisory
firm has agreed with our view that SandRidge is in critical need of change,
and that the current Board must be removed for this change to take place,”
said TPG-Axon. “We strongly believe the incumbent directors’ lack of strategic
oversight and financial discipline, combined with their poor governance
practices has caused the market to lose faith in the Company, causing massive
leakage of value for stockholders. Because of this we believe it is imperative
that stockholders follow Glass Lewis and ISS’s, two of the largest proxy
advisory firms, recommendations and vote the GREEN consent card in favor of
our proposals to facilitate meaningful change.”

For information on TPG-Axon’s proposals and on the process for voting shares
in favor of those proposals, go to www.Shareholdersforsandridge.com.

About TPG-Axon Capital

TPG-Axon Capital is a leading global investment firm. Through offices in New
York, London, Hong Kong and Tokyo, TPG-Axon invests across global markets and
asset classes.

TPG-AXON MANAGEMENT LP, TPG-AXON PARTNERS GP, L.P., TPG-AXON GP, LLC, TPG-AXON
PARTNERS, LP, TPG-AXON INTERNATIONAL, L.P., TPG-AXON INTERNATIONAL GP, LLC,
DINAKAR SINGH LLC AND DINAKAR SINGH (COLLECTIVELY, “TPG-AXON”) HAS FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) A DEFINITIVE CONSENT
STATEMENT AND ACCOMPANYING CONSENT CARD TO BE USED TO SOLICIT WRITTEN CONSENTS
FROM THE STOCKHOLDERS OF SANDRIDGE ENERGY, INC. IN CONNECTION WITH TPG-AXON'S
INTENT TO TAKE CORPORATE ACTION BY WRITTEN CONSENT. ALL STOCKHOLDERS OF
SANDRIDGE ENERGY, INC. ARE ADVISED TO READ THE DEFINITIVE CONSENT STATEMENT
AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF WRITTEN CONSENTS BY
TPG-AXON, STEPHEN C. BEASLEY, EDWARD W. MONEYPENNY, FREDRIC G. REYNOLDS, PETER
H. ROTHSCHILD, ALAN J. WEBER AND DAN A. WESTBROOK (COLLECTIVELY, THE
"PARTICIPANTS") FROM THE STOCKHOLDERS OF SANDRIDGE ENERGY, INC. BECAUSE THEY
CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE
PARTICIPANTS. THE DEFINITIVE CONSENT STATEMENT AND FORM OF WRITTEN CONSENT
HAVE BEEN FURNISHED TO SOME OR ALL OF THE STOCKHOLDERS OF SANDRIDGE ENERGY,
INC. AND ARE, ALONG WITH OTHER RELEVANT DOCUMENTS, AVAILABLE AT NO CHARGE ON
THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, TPG-AXON WILL PROVIDE
COPIES OF THE DEFINITIVE CONSENT STATEMENT AND ACCOMPANYING CONSENT CARD
WITHOUT CHARGE UPON REQUEST.

INFORMATION ABOUT THE PARTICIPANTS AND A DESCRIPTION OF THEIR DIRECT OR
INDIRECT INTERESTS BY SECURITY HOLDINGS IS CONTAINED IN THE DEFINITIVE CONSENT
STATEMENT ON SCHEDULE 14A FILED BY TPG-AXON WITH THE SEC ON JANUARY 18, 2013.
THIS DOCUMENT CAN BE OBTAINED FREE OF CHARGE FROM THE SOURCES INDICATED ABOVE.

Contact:

MacKenzie Partners, Inc.
Dan Burch or Larry Dennedy, 212-929-5500
or
TPG-Axon:
Anton Nicholas, 203-682-8245
Anton.Nicholas@icrinc.com
or
Phil Denning, 203-682-8246
Phil.Denning@icrinc.com
or
Jason Chudoba, 646-277-1249
Jason.Chudoba@icrinc.com