** Sable Offshore's SOC.N shares jump as much as 21.2% to $7.27 and rising for third straight session on Tues

** SOC shares have now rebounded 58.7% from record intraday low of $4.58 hit on Fri

** The Washington Post late Mon reported that the Trump administration is planning to open offshore oil drilling off the California coast for the first time in decades

** Roth Capital said in research note this "shows clear government support" for Sable's Santa Ynez project, "and indicates that federal funding for the project is still clearly an option"

** Roth has a 'buy' rating on SOC with $22 PT

** According to a Goldman Sachs short squeeze analysis, SOC is top ranked among stocks that have the highest probability of a 1-standard deviation up-move over the next week, which would be 23.4%

** Houston, Texas-based Sable early Mon announced $250 mln equity raise, which is expected to satisfy the conditions of a loan extension with Exxon Mobil XOM.N

** A California judge last month ruled against SOC's request to lift the state's cease-and-desist order on repairs it made to an onshore pipeline system linked to the Santa Ynez project

** SOC shares ended 2024 at $22.90

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))