Should MAE come up with decent flow rates, starting point in my view would be the 20million cubic feet per day as promised by their Directors, then their suggested share price could rise up to and above the 80 cents p/s marks.
The higher Mae gas flow rates are the higher their share price will be. As a result the share price of odyssey will also go up accordingly. From memory it was suggested that if MAE goes for 80cps then Ody will sell for 40cps. (Rough calculation only & speculative in nature)
ODY has 27.5 million shares in Mae (i.e., 8%) and there are approx 50+million Ody shares. For every 20 cents Mae goes up in value, Ody shares might go up around 10cents. $1 = 50c; $1.50 = 75c, etc.
In addition, Ody Directors have also indicated that they will return 30% of any sale of Mae back to shareholders, e.g., Mae sold for $1 x 27.5m shares = $27.5 million, divide by 1/3rd = $8.25 million divide by 50+million Ody shares = 16.4cents/s; i.e., Approx 16.5c to be returned to share holders of Ody.
So if a shareholder has say 200,000 Ody shares if/when Mae sells for say $1 then Ody shares could be worth say $0.50 p/s (i.e., $100,000) and also another 16.5 c/s dividend (i.e., $33,000).
It could be said that Ody shares could then be even more valuable than as just stated, given a dividend of possibly 16.5 cents for a 50 cent share price. Total payout for each share, estimated to be 66.5 cents.
What is the share price of Ody at the moment: 5.6 cents. That's a multiple of about 12 on the possible 66.5 cents that could be achieved on today's price.....worth a second thought!!!!!!!
Look forward to any response/s to this post.
Regards, Bernie
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