Stockanalysis on SGC, page-2

A very interesting valuation, do those values also take into account the probability factor, or assumes 100% success?
I assume the latter, 100%, which drops the valuation down a fair amount from those absolute values. But importantly i am surprise at such low probabilities of success, notwithstanding there is never any certainty in drilling. But if you read more about the history of the basin and past exploration (including blow outs adjacent!), there is considerable likelihood of success, and I'd guess Strachan is being very conservative.
Also interesting to compare the relative value SGC vs XST, its got me beat how well XST has performed and also why those Asian investors have subscribed at a premium, SGC by comparison i believe to be a standout!