One last point baxter.
Probably in a more logical world, SGY's share price should not have gone up at all, because SEY is a much cheaper way to get exposure to this oil 'find'.
Buyers of SGY should have just bought SEY, which is a quarter of the price.
However SGY do have lots more other interests than SEY, so their price shouldn't fall as much as SEY's if things go pear shaped.