Takeover bid ??, page-9

These are only a couple of statements from Euroz & Hartleys pre drilling..


"In our view, success at Phoenix South-3 results in a standalone economic proposition which – on account of CVN’s open register – would solicit corporate interest in our view"

and..

"Success at Phoenix South-3 and/or Dorado-1 has the potential to transform CVN. A successful appraisal of Phoenix-South will also likely attract takeover interest, with CVN post appraisal success being one of the largest independent holders of uncontracted gas in Western Australia (post the acquisition of AWE by Mitsui). We rate CVN a Speculative Buy based on this combination of an attractive valuation (low EV/boe), imminent newsflow, (unrecognised) oil price leverage and takeover appeal."

Look, i don't like the prospect of a takeover but even Adrian admits its a very real outcome..
90% for full takeover