Core Viewpoint - A class action securities lawsuit has been filed against Sable Offshore Corp. due to alleged securities fraud affecting investors who purchased shares between May 19, 2025, and June 3, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors adversely affected by false statements made by the defendants regarding the company's oil production activities off the coast of California [3]. - Allegations include that Sable Offshore Corp. misrepresented its operational status, claiming it had restarted oil production when it had not, leading to materially false and misleading statements about the company's business and prospects [3]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 26, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [4]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating a no-cost participation model [4]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [5].

Core Viewpoint - A class action securities lawsuit has been filed against Sable Offshore Corp. due to alleged securities fraud affecting investors who purchased shares between May 19, 2025, and June 3, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were misled by false statements regarding the company's oil production activities off the coast of California [3]. - Allegations include that Sable Offshore Corp. falsely claimed to have restarted oil production, which was not the case, leading to materially false and misleading statements about the company's business and operations [3]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 26, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [4]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [4]. Group 3: Legal Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [5]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Sable Offshore Corp. securities during the specified Class Period of the upcoming lead plaintiff deadline for a securities class action lawsuit [1][5]. Group 1: Class Action Details - The Class Period for the securities class action is defined as between May 19, 2025, and June 3, 2025, inclusive, and includes those who participated in Sable's secondary public offering on May 21, 2025 [1]. - Investors who purchased Sable securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must file a motion with the Court by September 26, 2025, to represent other class members in the litigation [3]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions, as many firms may not have the necessary experience or resources [4]. - The Rosen Law Firm has a history of successful settlements, including the largest securities class action settlement against a Chinese company at the time, and has recovered hundreds of millions of dollars for investors [4]. Group 3: Case Allegations - The lawsuit alleges that Sable Offshore Corp. made materially false and misleading statements regarding the restart of oil production off the coast of California, which were not true [5]. - As a result of these misleading statements, investors suffered damages when the true information became public [5].

Core Viewpoint - The Gross Law Firm has announced a class action lawsuit on behalf of shareholders of Sable Offshore Corp. (NYSE: SOC) who purchased shares during a specified class period, alleging that the company made materially false and misleading statements regarding its oil production activities [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Sable Offshore Corp. falsely represented that it had restarted oil production off the coast of California when it had not, leading to misleading statements about the company's business and operations [2]. - As a result of these misleading statements, investors suffered damages when the true details about the company's operations were revealed [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as May 19, 2025, to June 3, 2025, including a secondary public offering on May 21, 2025 [1]. - Shareholders are encouraged to register for the class action by September 26, 2025, to be eligible for potential recovery [3]. Group 3: Law Firm's Commitment - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit and illegal business practices [4]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by false or misleading statements [4].

Core Points - The Gross Law Firm has issued a notice to shareholders of Sable Offshore Corp. regarding a class action lawsuit for those who purchased shares between May 19, 2025, and June 3, 2025 [1][3] - The lawsuit alleges that Sable Offshore Corp. made materially false and misleading statements about restarting oil production off the coast of California, which were not true [4] - The deadline for shareholders to register for the class action is September 26, 2025, and there is no cost to participate [5] Allegations - The complaint claims that the defendants misrepresented the company's operational status, leading to inflated stock prices and subsequent investor losses when the truth was revealed [4] - Specific allegations include the failure to disclose that oil production had not actually restarted as claimed [4] Next Steps for Shareholders - Shareholders who register will be enrolled in a portfolio monitoring system to receive updates on the case [5] - The firm emphasizes that appointment as lead plaintiff is not necessary to recover losses [1][5] About the Law Firm - The Gross Law Firm is recognized for its commitment to protecting investors' rights against deceit and fraud in business practices [6] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [6]

Group 1 - A class action has been filed on behalf of investors who purchased Sable Offshore Corp. (NYSE: SOC) securities between May 19, 2025, and June 3, 2025, related to the company's secondary public offering on May 21, 2025 [1][2] - The allegations state that Sable Offshore Corp. misled investors by claiming that oil production had restarted off the coast of California when it had not, leading to investor losses when the truth was revealed [2] - Shareholders interested in serving as lead plaintiff must submit their papers by September 26, 2025, and can choose to remain absent class members if they do not wish to participate [3] Group 2 - Robbins LLP is a recognized leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [4]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Sable Offshore Corp. due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's oil production activities [4][6]. Group 1: Legal Investigation and Class Action - The firm is reminding investors of the September 26, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Sable Offshore [4]. - The complaint alleges that Sable Offshore and its executives made false statements regarding the restart of oil production off the California coast, which were not true [6]. - Investors who suffered losses in Sable Offshore between May 19, 2025, and June 3, 2025, are encouraged to contact the firm to discuss their legal rights [1][4]. Group 2: Stock Performance and Market Reaction - Following a court injunction against Sable's pipeline repair activities, the company's stock fell by $5.04 per share, or 15.3%, closing at $27.89 on May 28, 2025 [7]. - The injunction was granted by the California Coastal Commission, raising concerns about potential project delays and additional costs for Sable Offshore [7]. Group 3: Firm Background and Contact Information - Faruqi & Faruqi, LLP has recovered hundreds of millions of dollars for investors since its founding in 1995 and has offices in multiple states [5]. - The firm encourages anyone with information regarding Sable Offshore's conduct to contact them, including whistleblowers and former employees [9].

[Item 2.02 Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Sable Offshore Corp. announced financial results for the period ended June 30, 2025, via a press release, with the information furnished but not filed under the Exchange Act - The company announced its financial results for the period ending June 30, 2025, via a press release issued on August 12, 2025[3](index=3&type=chunk) - The information in the press release (Exhibit 99.1) is not deemed "filed" for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other SEC filings[4](index=4&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=3&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section details the exhibits accompanying the Form 8-K filing, primarily the press release with financial results | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release of Sable Offshore Corp., dated August 12, 2025, announcing results for the period ended June 30, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

PART I – FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(unaudited)) This section presents unaudited financial statements, highlighting the lack of comparability between Predecessor and Successor periods [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $1.77 billion and total liabilities rose to $1.33 billion, with stockholders' equity increasing to $445.6 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$1,772,038** | **$1,583,172** | | Cash and cash equivalents | $247,141 | $300,384 | | Total oil and gas properties - net | $1,427,039 | $1,194,447 | | **Total Liabilities** | **$1,326,411** | **$1,198,987** | | Senior Secured Term Loan (Current) | $875,561 | $— | | Senior Secured Term Loan (Non-current) | $— | $833,542 | | **Total Stockholders' Equity** | **$445,627** | **$384,185** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported zero revenue and a Q2 2025 net loss of $128.1 million, an improvement due to fair value changes in warrant liabilities Statement of Operations Summary (Successor, in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | :--- | | Total Revenue | $— | $— | $— | | Loss from operations | $(128,888) | $(62,235) | $(188,684) | | Net loss | $(128,066) | $(165,436) | $(237,610) | | Basic and diluted net loss per share | $(1.40) | $(2.75) | $(2.70) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to $445.6 million, driven by a $282.6 million stock issuance offset by a net loss of $237.6 million - The primary drivers for the change in stockholders' equity were a **$282.6 million capital raise** from a stock issuance, offset by a **net loss of $237.6 million**[16](index=16&type=chunk)[29](index=29&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash decreased by $53.0 million as cash used in operations and investing was partially offset by financing activities from a stock offering Cash Flow Summary (Successor, Six Months Ended June 30, 2025, in thousands) | Cash Flow Activity | Amount | | :--- | :--- | | Net cash used in operating activities | $(142,948) | | Net cash used in investing activities | $(192,982) | | Net cash provided by financing activities | $282,933 | | **Net change in cash** | **$(52,997)** | | Cash, cash equivalents and restricted cash, end of period | $282,775 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, debt, legal issues, and a substantial doubt about the company's ability to continue as a going concern - On May 15, 2025, the company **restarted production** at the Santa Ynez Unit (SYU) and began flowing oil to its onshore storage facility[28](index=28&type=chunk) - The company discloses that **substantial doubt exists about its ability to continue as a going concern** due to the need to refinance its Senior Secured Term Loan and obtain regulatory approvals[36](index=36&type=chunk)[33](index=33&type=chunk) - The company is involved in **multiple legal and regulatory proceedings** with state and federal agencies that could impact its ability to operate[124](index=124&type=chunk)[129](index=129&type=chunk)[132](index=132&type=chunk) Senior Secured Term Loan Details | Metric | Value | | :--- | :--- | | Balance (June 30, 2025) | $875.9 million (incl. PIK interest) | | Interest Rate | 10.0% per annum | | Maturity Date | January 10, 2026 | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial results, production restart, liquidity challenges, and significant legal and regulatory hurdles [Overview and Recent Events](index=34&type=section&id=Overview%20and%20Recent%20Events) The company acquired SYU assets, restarted production, raised capital, and faces ongoing legal and regulatory challenges - On May 19, 2025, the company announced it had **restarted production at SYU** as of May 15, 2025, and completed its pipeline anomaly repair program[198](index=198&type=chunk) - In May 2025, the company closed an upsized public offering of 10 million shares, raising approximately **$282.6 million in net proceeds**[193](index=193&type=chunk) - The company is engaged in legal disputes with the California Coastal Commission, which has imposed an **$18.0 million administrative penalty** that the company is contesting[205](index=205&type=chunk) [Results of Operations](index=38&type=section&id=Results%20of%20Operations) Q2 2025 net loss decreased to $128.1 million due to warrant value changes, despite significant increases in operating and G&A expenses Comparison of Operating Results (Successor, Q2 2025 vs Q2 2024, in thousands) | Account | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Operations and maintenance expenses | $50,398 | $26,294 | 91.7% | | General and administrative expenses | $75,318 | $33,217 | 126.7% | | Loss from operations | $(128,888) | $(62,235) | 107.1% | | Change in fair value of warrant liabilities | $(27,146) | $81,178 | nm | | Net loss | $(128,066) | $(165,436) | (22.6)% | - The increase in Q2 2025 G&A expenses was primarily due to **$35.7 million in higher restart-related incentive compensation costs** and $7.8 million in higher legal costs[217](index=217&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity depends on equity offerings to cover expenses and refinance a term loan maturing in January 2026, raising going concern doubts - The restart of production triggered an **acceleration of the Senior Secured Term Loan's maturity date to January 10, 2026**, requiring it to be refinanced[227](index=227&type=chunk)[232](index=232&type=chunk) - Management estimates remaining start-up expenses of approximately **$66.6 million** are needed to commence sales of production, anticipated in Q3 2025[229](index=229&type=chunk) - For the six months ended June 30, 2025, net cash used in operating activities was **$142.9 million**, while net cash provided by financing activities was **$282.9 million**[234](index=234&type=chunk)[238](index=238&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, this section is not required - As a smaller reporting company, Sable Offshore Corp. is **not required to provide** quantitative and qualitative disclosures about market risk[264](index=264&type=chunk) [Item 4. Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes - The CEO and CFO concluded that as of June 30, 2025, the company's disclosure controls and procedures were **effective at the reasonable assurance level**[266](index=266&type=chunk) - **No changes in internal controls** over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[267](index=267&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 8 of the financial statements for details on material legal proceedings - For a full description of material pending legal and regulatory matters, the report refers to **Part I, Item 1, Note 8 — Commitments and Contingencies**[268](index=268&type=chunk) [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors disclosed in the 2024 Form 10-K have occurred - As of the date of this report, there have been **no material changes** to the risk factors disclosed in the company's 2024 Form 10-K[269](index=269&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - **None reported**[270](index=270&type=chunk) [Item 3. Defaults Upon Senior Securities](index=49&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - **None reported**[271](index=271&type=chunk) [Item 4. Mine Safety Disclosures](index=49&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - **Not Applicable**[272](index=272&type=chunk) [Item 5. Other Information](index=49&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter - During the three months ended June 30, 2025, **no director or officer** of the Company adopted or terminated a Rule 10b5-1 trading arrangement[273](index=273&type=chunk) [Item 6. Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the quarterly report

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Sable Offshore Corp. securities during the specified Class Period and secondary public offering about the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who purchased Sable securities between May 19, 2025, and June 3, 2025, or through the May 21, 2025, secondary public offering may be eligible for compensation without any out-of-pocket fees [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 26, 2025 [3]. Group 2: Legal Representation - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone, and has been recognized as a leader in securities class action settlements [4]. Group 3: Case Allegations - The lawsuit alleges that Sable Offshore Corp. made materially false and misleading statements regarding its oil production activities off the coast of California, which were not accurate [5]. - As a result of these misleading statements, investors are claimed to have suffered damages when the true information became public [5].