TPG-Axon releases a presentation detailing SandRidge Energy's (SD) related-party land...

TPG-Axon releases a presentation detailing SandRidge Energy's (SD) related-party land transactions, including a call for an investigation of CEO Tom Ward. Entities affiliated with Ward's family appear to have acquired acreage in advance of purchases by SD in the same areas, then either sold it to third parties or kept it, TPG says.

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Comments (9)
  • tigers1
    , contributor
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    23 Jan 2013, 05:14 PM Reply Like
  • meanjean43
    , contributor
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    Dirty SD. It's not just the ward's that are benefiting. If you look at all of the allegations of the past couple months combined with the boards responses there are definitely multiple parties on the take here. Unfortunately, its not the shareholders..
    23 Jan 2013, 07:06 PM Reply Like
  • meanjean43
    , contributor
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    I used to have an SD position. After reading the recent allegations (past 6 months), coupled with the moves of the board in response to them, I am convinced that it isn't just the CEO that is benefiting from all of this. Unfortunately as a shareholder I wasn't. I am really interested in seeing how all of this shakes out in the long run. Not while I am invested in them though. STRONG SELL
    23 Jan 2013, 07:07 PM Reply Like
  • rmdonovan
    , contributor
    Comments (70) | Send Message
    TPG-Axon can't do this because they need to pursue another path.


    There are some things shareholders can do even if you own only one share. File complaints with:


    1. Texas Attorney General
    Criminal Investigation Division


    2. Railroad Commission of Texas (not many know they are the "center" of the oil and gas industry in Texas)


    Look up: Procedure for Filing and Responding to Informal Complaints About Natural Gas Purchasing, Selling, Shipping, Transportation or Gathering Practices.


    The more complaints filed the better---You can't lose a thing by doing this, but gaining is quite possible even if you sold your position and think you got screwed..


    I'm out of SD but long PER and all I'll need is a little more reason to file complaints with both agencies


    23 Jan 2013, 07:13 PM Reply Like
  • Harry Johnson
    , contributor
    Comments (516) | Send Message
    Don't have a dog in the fight, but think about this:


    Frenetic leasing by dozens of companies in three states. Company and contract landmen swarming county seats and farm houses in search of mineral owners. Every coffee shop in every hamlet in Oklahoma and Kansas rife with rumors about a big leasing play.


    So how does one prove that Entity A shared a secret with Entity B when half of the oil industry knew the secret ? Very easy if you are a lawyer - simply take about 10,000 depositions, get copies of the leases covering several million acres, examine each item, and if Entity A has one lease adjacent to Entity B, build a circumstantial case of conspiracy and collusion between A and B. Guaranteed to take upwards of ten years, enrich hundreds of lawyers, and leave stockholders poorer than when it started.


    SD and TPG-Axon....a pox on both your houses.
    23 Jan 2013, 10:09 PM Reply Like
  • Bob Curtin
    , contributor
    Comments (106) | Send Message
    If Entity A (Tom Ward) had even a modicum of integrity, he would tell Entity B (Trusts he established and for years managed) to stay away from Entity A's land acquisitions and if Entity B persisted in trying to front run Entity A, he would instruct his minions to avoid doing business with Entity B.
    I'm generally not a fan of class action lawsuits but it may be the only alternative to allowing this BOD and this CEO to continue to enrich themselves at the expense of shareholders.
    Despite all the evidence of self-enrichment at the expense of shareholders not even a hint of contrition (real or fake) from Ward.
    24 Jan 2013, 07:06 AM Reply Like
  • papayamon
    , contributor
    Comments (1310) | Send Message
    i used this little bounce to hop out of sd at a small profit. it's more fun watching this show as an observer than a shareholder.


    still up to my eyeballs in the CHK show, but i don't think AM has been as careless as tom ward with his fingers in the cookie jar. for SD's market cap, the quality of their assets is lacking to support any great stock valuation. got to give ward credit for knowing how to bleed investors dry.
    24 Jan 2013, 05:28 AM Reply Like
  • mitchjl
    , contributor
    Comments (288) | Send Message
    Hanging in there for awhile.Waiting for a drop in PP/S.
    24 Jan 2013, 08:16 AM Reply Like
  • rmdonovan
    , contributor
    Comments (70) | Send Message


    With your background in this field, have you seen the OK courts allow such a broad and years of depositions, especially after initial discovery would show "connections" to begin the process.


    I would think not, however, you have more experience in field.


    24 Jan 2013, 12:56 PM Reply Like
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