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Porgie Tirebiter

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Porgie Tirebiter

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Re: knowbs4u post# 11735

Saturday, 08/06/2016 1:51:32 PM

Saturday, August 06, 2016 1:51:32 PM

Post# of 13692
Even though Tom Ward and his family essentially "looted" SandRidge after it went public, it was all above board and obvious to shareholders if they just looked. Unlike the others you mention, Ward was not cooking the books. I really don't believe any laws were broken.

By the time Ward was forced out SandRidge could not survive with oil below $115 to $120 for any length of time as SD's debt service matched their cash flow with oil at those levels. When oil went under $100 their price hedging saved them for awhile but when the bounce in oil didn't come, BK became inevitable.

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