It pretty obvious to me that the Quadrant backers are planning there exit strategy hence the need to prove up Phoenix South.
So I would expect Quadrant to list on ASX in the new year once PS 2 result is known. It doesn't get much better to list and sell down after two (hopefully) amazing well results. And that is why CVN were able to negotiated such a good drilling cost ie small.
The Mums and Dads will be pumped full of stock by the MacQuarie machine.
Ann: Phoenix South-2 Well Commencement-CVN.AX, page-30
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