SYU (acquired by Sable Offshore) reports no revenue, $93.7M net loss in 2023; going concern doubt cited

Sable Offshore Corp.

SYU shut-in since 2015; 2023 net loss $93.7M, 2022 net loss $1.5B including $1.4B impairment.
Total assets $711.6M, parent net investment $339M at Dec 31, 2023; no oil/gas sales both years.
Substantial doubt about ability to continue as going concern due to pending regulatory approvals to restart production.
Sable completed acquisition Feb 14, 2024, funded by $440.2M PIPE and $622.9M term loan from Exxon.

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