Ann: Borba Gas Shows Continue in Key Target Formations, page-219

The 88E and SGC are totally different beasts.

88E is looking for oil and their current well may prove upto 645 Million Barrels of contingent resources.
The in-ground value of these resources is generally about $2 per barrel.

So a total of approx $1.29 NPV for 100% of oil

88E will have 50% working interest and 42.4% Net interest after this well is drilled.

If everything is proven, the total value ascribed to 88E will be approx $548 Million US

The current market capitalisation of 88E is already above that (even at 7 cents per share). The room for disappointment is quite high.

SGC is targeting gas. The inground gas value is genrally 75 cents to $1 for each mcf 0r $750K to $1M for each BCF.

So if we have a proven 1 TCF then total in ground value will be between $750M to $1 Billion in total. Based on respective interests,you can work out the share prices.