SGC vs XST leverage for Borba, page-15

I can honestly say that in all my time following the share market I have NEVER seen a circumstance where a company holding 2 x the same assets is trading at a discount to its junior partner, unless there is an explicable issue (eg significant debt or legal dispute etc).
In the case of SGC there is certainly no obvious issue, and up until recently the relative mkt cap of it to the junior partner XST reflected no issue. But both SGC and XST had a low market profile, and certainly neither had a mkt cap anything like its comparable speccy oil/gas peers operating elsewhere in the world.
But all of a sudden a raft of traders/speculators/investors have become aware of a minnow XST, and have flooded in. The mystery continues though, because even XST remains undervalued wrt the rest of the oil/gas sector. Certainly XST has begun to transition towards something more reasonable in mkt cap.
Yet SGC remains left behind, or at least being dragged up following XST's tail!
Will it be like ZIP has recently done in the BNPL sector? Afterpay has become a market juggernaut, and only lately has ZIP begun to make its move! But the difference between that scenario and the BNPL sector, is that SGC has TWICE the WI of XST in Borba, it has double the interest in the recently acquired Canadian oil assets (which are in production, and cash flow positive and increasingly so with increasing oil prices).

Theoretically at least, SGC SHOULD have a mkt cap double that of XST!!!
Is XST simply overvalued - NO! Relative to the rest of the speccy market in Oil/Gas both SGC and XST have been significantly undervalued by the market. Their gas prospects in the Sacramento Basin and elsewhere in California are first class, in a Tier 1 location. They are onshore (= relatively low drilling costs), and the already established pipeline infrastructure makes its very easy and quick to hook up new production.
And Borba is on the verge of being drilled!