Wine uses several different kinds of memory addresses.
Linear addresses can be everything from 0x0 up to 0xffffffff. In Wine on Linux they are often around e.g. 0x08000000, 0x00400000 (std. Win32 program load address), 0x40000000. Every Win32 process has its own private 4GB address space (that is, from 0x0 up to 0xffffffff).
These are the "normal" Win16 addresses, called SEGPTR. They have a segment:offset notation, e.g. 0x01d7:0x0012. The segment part usually is a "selector", which always has the lowest 3 bits set. Some sample selectors are 0x1f7, 0x16f, 0x8f. If these bits are set except for the lowest bit, as e.g. with 0x1f6,xi then it might be a handle to global memory. Just set the lowest bit to get the selector in these cases. A selector kind of "points" to a certain linear (see above) base address. It has more or less three important attributes: segment base address, segment limit, segment access rights.
Selector 0x1f7 (0x40320000, 0x0000ffff, r-x) So 0x1f7 has a base address of 0x40320000, the segment's last address is 0x4032ffff (limit 0xffff), and it's readable and executable. So an address of 0x1f7:0x2300 would be the linear address of 0x40322300.
They, too, have a segment:offset notation. But they are completely different from "normal" Win16 addresses, as they just represent at most 1MB of memory: the segment part can be anything from 0 to 0xffff, and it's the same with the offset part.
Now the strange thing is the calculation that's behind these addresses: just calculate segment*16 + offset in order to get a "linear DOS" address. So e.g. 0x0f04:0x3628 results in 0xf040 + 0x3628 = 0x12668. And the highest address you can get is 0xfffff (1MB), of course.