Sable Offshore pursues OS&T vessel as backup to onshore pipeline for SYU restart

Sable Offshore Corp.

Satisfied all operational conditions for Onshore Pipeline restart per Federal Consent Decree; awaits California OSFM approval.
Alternative OS&T strategy: lease contract expected by year-end 2025, delivery Q3 2026, first sales Q4 2026 at 50,000+ bpd.
Submitted formal request to US Secretaries of Interior and Energy to expedite FPSO permitting for Santa Ynez Unit.
SYU produced over 160 million boe from 1981-1994 under similar offshore strategy.
Continued pipeline delays will prompt full pivot to OS&T and aggressive pursuit of legal remedies.

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