Churchill Downs(CHDN)said wagering from all sources on the Saturday's Kentucky Derby day program set a new record of $320.5M, beating last year's record of $288.7M. All-sources wagering on the Kentucky Derby race was a new record of $210.7M, beating the previous record of $188.7M set in 2023. All-sources handle for Derby Week rose to a new record of $446.6M, beating last year's record of $412.0 million. "We expect the Kentucky Derby Week Adjusted EBITDA to reflect a new record with $26 to $28 million of growth over the prior record set last year," Churchill Downs said in a statement.
GBA Presents: House of Gummy-!
- Thread starter stonedinvestor
- Start date
Sorry, I am really bummed today, my friend has gliobastmo. He’s Asknashian Jewish genius chess and furious as hell! He played against Silman, Christiansen and Bobby in New York 1970s. Sorry about spelling.
He beat the Serb wiz kid at 55
Ted I knew something big was up. Van too. He's disappeared. I'll be honest at first I thought Gliobastmo was a tech stock that went bad. I had to look it up. Christ! That is scary I am so sorry. What a freak out. To be told you have so and so to live it's my worst nightmare and I have it alot. Now that I searched for the name, Google will be sending me all kinds of info on this horrible disease. My insurance will go up./
My wife is part Asknashain and part Irish.
I've been looking around for an oil idea that is Trumpy./
Company Profile
Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities. The company was formerly known as Flame Acquisition Corp. and changed its name to Sable Offshore Corp. in February 2024. Sable Offshore Corp. was incorporated in 2020 and is based in Houston, Texas.
Cali presents a problem but Federal land here and that can be ok'd by a President.
On 2/16 FLORES JAMES C bought 3mil 200 thousand worth of stk @$10. That is an outlay of $32 m I think/
Chairman & CEO
10% Owner
2/16 300,000 @ $10 $for 3,000,000
(Indirect
Direct) View
2024-02-14
Purchase 2024-02-16
5:17 pm Sable Offshore Corp. SOC Sarofim Christopher Binyon
Director
10% Owner
Two more 100,000 share buys same time period.. what the heck were these guys looking at in Feb that made them so bullish? And why is the stk not higher???
Company Profile
Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities. The company was formerly known as Flame Acquisition Corp. and changed its name to Sable Offshore Corp. in February 2024. Sable Offshore Corp. was incorporated in 2020 and is based in Houston, Texas.
Cali presents a problem but Federal land here and that can be ok'd by a President.
On 2/16 FLORES JAMES C bought 3mil 200 thousand worth of stk @$10. That is an outlay of $32 m I think/
Chairman & CEO
10% Owner
2/16 300,000 @ $10 $for 3,000,000
(Indirect
Direct) View
2024-02-14
Purchase 2024-02-16
5:17 pm Sable Offshore Corp. SOC Sarofim Christopher Binyon
Director
10% Owner
Two more 100,000 share buys same time period.. what the heck were these guys looking at in Feb that made them so bullish? And why is the stk not higher???
SOC Sable Offshore Corp.
$11.320.27(+2.44%)4:00 PM 05/10/24
NYSE |$USD |Post-Market:$11.05-0.27(-2.39%)4:56 PM
Only one analyst covers and that may be the problem here--
But that analyst has a $20 PT.
$11.320.27(+2.44%)4:00 PM 05/10/24
NYSE |$USD |Post-Market:$11.05-0.27(-2.39%)4:56 PM
Only one analyst covers and that may be the problem here--
But that analyst has a $20 PT.
TD Cowen initiated coverage on Sable Offshore Corp. (NYSE: SOC), assigning the stock an Outperform rating and setting a price target of $20.00. The firm highlighted the company's potential in offshore California production, noting the significant free cash flow (FCF) yields expected once shut-in production is restored.
Sable Offshore is seen as a pure-play opportunity in a promising reservoir, with the main challenge being the path to first production. TD Cowen anticipates that once full approval is granted, the focus will shift to de-risking the proven developed producing (PDP) reserves. This initial stage is crucial for setting the stage for future discussions on production growth.
The analyst from TD Cowen believes that even with the planned expansion, including over 80 electric submersible pump (ESP) installations, Sable Offshore is positioned to generate substantial free cash flow. This growth is expected to come while the company exploits over 100 identified step-out locations, which present additional opportunities for production increase.
Additionally, Sable Offshore's strategic positioning allows it to explore carbon capture and storage (CCS) opportunities offshore California. The company has plans to file for a class VI permit in 2025, which could enhance its profile in the growing field of CCS.
https://sableoffshore.com/files/doc_presentation/2023/12/Sable_-_Investor_Presentation_Dec.pdf
Summary I was a SPAC! That insider activity was then.>>>>>
- Sable Offshore Corp recently completed a SPAC merger and has a market cap of $658.8M.
- The company has an impressive asset base, but they have work to do get the Santa Ynez field into production.
- The SPAC merger closed on February 14, leaving the company with $150.8M in cash, $35M in restricted cash, and debt of $763.8M.
- Management and institutions own more than two thirds of the shares outstanding after the completion of the merger.
- If management can execute on their plan, buying shares around $11.00 will look like a steal in a couple years. If not, Sable will be in serious trouble.
California, despite its history as a massive producer of oil and gas, is basically a hostile government when it comes to the traditional oil and gas industry. Just asklarge refiner Valero. It’s worth noting that the Santa Ynez field is in federal waters, but Sable still has regulatory hoops to jump through before restarting production (namely the approval of Office of the State Fire Marshall), so that will be something to watch over the next couple months.
Asset Overview
The thing that makes Sable very interesting is the assets and existing infrastructure they have. If Sable is able to restart production and develop some of the adjacent parcels, buying shares today around $11.00 will look like a steal in a couple years. They are targeting a restart of oil production in July 2024. If they get regulatory approval and restart production, it will be a huge catalyst for the shares.
SYU is comprised of three platforms located in federal waters offshore California and its onshore processing facility.
The offshore position is comprised of 16 federal leases across approximately 76,000 acres and includes 100% working interest with an average 83.6% net revenue interest. The Hondo platform and the Harmony platform develop the Hondo Field, and the Heritage platform develops the Pescado and Sacate Fields. The platforms are located 5 to 9 miles offshore of Santa Barbara County in shallow water depths of 900 to 1,200 feet and service 112 wells, comprised of 90 producers, 12 injectors and 10 idle with an additional 102 identified, undrilled opportunities. A 2015 analysis identified step-out potential for untested fault compartments or sub-accumulations and indicated a potential technical opportunity for up to an additional 102 identified, undrilled opportunities based on spacing assumptions ranging from 20 to 80 acres. For each platform, more opportunities exist than there are available donor wellbores based on current spacing assumptions (i.e., each platform is slot-constrained).
The wholly owned onshore processing facility is a fully integrated oil and gas processing facility with additional capacity for development. The natural gas and NGLs it processed prior to the Line 901 incident were sold into the Southern California markets and the oil volumes were sold to California refineries. The onshore position is approximately 1,480 surface acres, which include the processing facility and parts of the surrounding canyons. The onshore facilities occupy approximately 35 acres and are comprised of:
• an oil treating plant with capacity of approximately 180 MBop/d where it conducts crude dehydration, crude stabilization, and gas separation and compression;
• a biologic/physical water treating plant with capacity of more than 67 MBwp/d where it conducts free oil removal, degassing, and biological treatment;
• POPCO gas plant with approximately 80 Mcf/d sales capacity where it conducts gas sweetening, sulfur recovery, NGL fractionation, and gas compression;
• another gas processing plant where it conducts gas sweetening, sulfur recovery, and NGL fractionation, and sends fuel gas to the co-generationpower plant;
• an almost entirely electric co-generation power plant with a capacity of 50 MW, including a 40 MW gas turbine, a 10 MW steam turbine, and steam generation;
• crude storage capacity of 540 MBbls;
• a produced water pipeline, which is partially offshore;
• liquified petroleum gas storage and loading; and
• a transportation terminal.
-Asset Summary From Sable 10-K
Las Flores Canyon
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You have to ask yourself how can we have such huge insider buying if this isn't an example of rich getting richer... Even when faced with losing their assets they bought huge/
law suit>
The landowners are in negotiations with Sable for a potential resolution that would end the litigation, a person familiar with the matter said. Sable's agreement with Exxon requires the production to be up and running by early 2026or the assets and their liabilities revert to Exxon.
law suit>
The landowners are in negotiations with Sable for a potential resolution that would end the litigation, a person familiar with the matter said. Sable's agreement with Exxon requires the production to be up and running by early 2026or the assets and their liabilities revert to Exxon.
Who owns Sable Offshore?
The Sable Project was operated by ExxonMobil Canada Properties (50.8% ownership). The other owners included Shell Canada Limited (31.3%), Imperial Oil Resources (9%), Strathcona Resources Ltd.
James C. Flores
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECBUQAA
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECBUQAA
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECGMQAA
James C.Floresis Chairman & Chief Executive Officer of Sable Offshore Corp. Sable Offshore Corp. is a Houston-based independent upstream company focused on responsibly developing the prolific Santa Ynez Unit in federal waters offshore California. Since 1982, Mr.
James C. Flores CHAIRMAN AND CHIEF EXECUTIVE OFFICER ...
The Sable Project was operated by ExxonMobil Canada Properties (50.8% ownership). The other owners included Shell Canada Limited (31.3%), Imperial Oil Resources (9%), Strathcona Resources Ltd.
James C. Flores
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECBUQAA
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECBUQAA
https://www.google.com/imgres?q=Jam...d=2ahUKEwjD1uL3hISGAxUlMlkFHTPLByIQM3oECGMQAA
James C.Floresis Chairman & Chief Executive Officer of Sable Offshore Corp. Sable Offshore Corp. is a Houston-based independent upstream company focused on responsibly developing the prolific Santa Ynez Unit in federal waters offshore California. Since 1982, Mr.
James C. Flores CHAIRMAN AND CHIEF EXECUTIVE OFFICER ...
Mr Camel I have given you a typically weird stonedinvesting type idea... you can't get more sublime than this-- we have current time frames and rich folks... it's a detectives game but I smell money.
$10,000 can turn into $30,000 if we get lucky.