Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>We are initiating coverage of Sable Offshore (SOC) with a Sell Rating and $6 target.   </li>
<li>SOC is attempting to restart oil production off the coast of Santa Barbara, California that is unlikely to gain the necessary regulatory approvals to move forward.   </li>
<li>The offshore oil platforms, previously owned by XOM, have been shut down since 2015. SOC acquired the assets on the expectation it could win approval to restart production. </li>
</ul>


We are initiating coverage of Sable Offshore (SOC) with a Sell Rating and $6 target.   
SOC is attempting to restart oil production off the coast of Santa Barbara, California that is unlikely to gain the necessary regulatory approvals to move forward.   
The offshore oil platforms, previously owned by XOM, have been shut down since 2015. SOC acquired the assets on the expectation it could win approval to restart production. 


Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Decline in global exploration puts future energy supplies partially at risk.</li><li>Last week, the IEA announced that it now expects world oil demand to decline 2.5 million barrels per day this year compared with its prior estimate of 1.6 million barrels per day.</li><li>Despite the near-term demand concerns, continued relatively low levels of exploration spending could result in future oil supplies below global demand. </li></ul>

Decline in global exploration puts future energy supplies partially at risk.Last week, the IEA announced that it now expects world oil demand to decline 2.5 million barrels per day this year compared with its prior estimate of 1.6 million barrels per day.Despite the near-term demand concerns, continued relatively low levels of exploration spending could result in future oil supplies below global demand. 

Energy Roundup : Oil Prices Advance Ever Higher

<ul><li>Global oil supplies have experienced massive disruptions in 2026. </li><li>A major news agency published a report last week stating that nearly half the world’s oil is supplied by countries affected by conflicts this year, including the ongoing Iran war and the expansion into other Middle East countries (which has resulted in the largest oil supply crisis on record), the Russia-Ukraine war, conflicts in Libya, and US restrictions on Venezuelan oil exports at ?the start of the year. </li><li>Reuters calculated that countries affected by those conflicts together produced ~45 million barrels of oil per day based on 2025 output, representing more than 43% of the global oil supply (Figure 1).</li></ul>

Global oil supplies have experienced massive disruptions in 2026. A major news agency published a report last week stating that nearly half the world’s oil is supplied by countries affected by conflicts this year, including the ongoing Iran war and the expansion into other Middle East countries (which has resulted in the largest oil supply crisis on record), the Russia-Ukraine war, conflicts in Libya, and US restrictions on Venezuelan oil exports at ?the start of the year. Reuters calculated that countries affected by those conflicts together produced ~45 million barrels of oil per day based on 2025 output, representing more than 43% of the global oil supply (Figure 1).

Global Energy Security Remains Stressed as Renewed Fighting Pushes Prices Higher

Professional Special Situation Investor, TripleS Special Situation Investing

Triple S Special Situations Investing

Professional Special Situation Investor

TripleS Special Situation Investing

Professional Special Situation Investor with over 20 years of experience.

<ul><li>I’ve gone back to the well on a name that’s managed to offend almost every democrat in California, environmental NGO on the west coast, and more than a few risk officers.</li><li>Lucky for me, I am my own risk department. So, what brought me back?</li><li>The government invoked the Defense Production Act, the wells turned on, the pipe is filled, and suddenly Sable Offshore is now a real, cash flowing asset with a shot clock attached to it.</li></ul>

I’ve gone back to the well on a name that’s managed to offend almost every democrat in California, environmental NGO on the west coast, and more than a few risk officers.Lucky for me, I am my own risk department. So, what brought me back?The government invoked the Defense Production Act, the wells turned on, the pipe is filled, and suddenly Sable Offshore is now a real, cash flowing asset with a shot clock attached to it.

<ul><li>Residential electricity price spike shines a light on data center power usage. </li><li>Residential electricity prices rose sharply across much of the US between 2021 and 2025, with a meaningful number of utilities recording compound annual growth rates well above general inflation.</li><li>The Electric Power Monthly report published by the Energy Information Administration shows that US average residential electricity rates increased 6.1% per year during 2021-2025 and has jumped another ~9% so far this year (Figure 1). </li></ul>

Residential electricity price spike shines a light on data center power usage. Residential electricity prices rose sharply across much of the US between 2021 and 2025, with a meaningful number of utilities recording compound annual growth rates well above general inflation.The Electric Power Monthly report published by the Energy Information Administration shows that US average residential electricity rates increased 6.1% per year during 2021-2025 and has jumped another ~9% so far this year (Figure 1). 

States Push Back on Data Center Projects; US Military De-Escalation Calms Oil Markets

United States

Sable Offshore Corp. operates as an oil and gas company. The Company focuses on developing the prolific Santa Ynez Unit in federal waters offshore. Sable Offshore Sable Offshore conducts its business in the United States.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sable Offshore (SOC US)

SOC: Pipe to Nowhere, Initiating W/Sell

SOC will be unable to restart the Santa Ynez Unit SOC acquired from XOM. SOC is likely to spend much of the cash it has raised and end up giving...

BWS Financial Inc

Energy Roundup : Oil Prices Advance Ever Higher

Last week, the IEA announced that it now expects world oil demand to decline 2.5 million barrels per day this year compared with its prior estimate...

Water Tower Research

Global Energy Security Remains Stressed as Renewed Fighting Pushes Prices Higher

A major news agency published a report last week stating that nearly half the world’s oil is supplied by countries affected by conflicts this...

Water Tower Research

Forgive Me Father, I Have Sabled.

I’ve gone back to the well on a name that’s managed to offend almost every democrat in California, environmental NGO on the west coast, and more...

Triple S Special Situations Investing

States Push Back on Data Center Projects; US Military De-Escalation Calms Oil Markets

Residential electricity prices rose sharply across much of the US between 2021 and 2025, with a meaningful number of utilities recording compound...

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)