Accidentally Formatted SmartMedia card!

I recently spent two months in Australia with a great group of people and we took tons of pictures using our digital cameras. Anyhow, a few of were fiddling around with another girl's camera when a third person accidentally formatted all of her pictures from the past two weeks. She took one more picture on that card to check if there were actually all gone (she discovered they were). After that, I quickly stopped her and told her not to take anymore photos using that memory card since I thought that it might still be possible to recover the images by either using some program or by sending the card into a data recovery place.

Anyhow, she has a PNY 128MB Smart Media card and the pictures were taken using a Fujifilm FinePix S602Zoom digital camera. I've checked a few places online that suggest that the pictures can be recovered, but they all note that they recover from "corrupted" drives/cards. My first thoughts were that by formatting the card, the camera basically just freed up all that space and told the camera that the pictures didn't exist and that it could write over that disk space. In actuality, the pictures are still there, just not recognized. Is this correct or are the pictures gone for good?

Also, if you think that we could still recover the pictures, does any know of any companies that you know to be, or have heard to be, reliable and offer a competitive price? Or is there any software that you know of that you know to have recovered photos from formatted cards?