"The directors of Strata-X Energy ("Strata-X" or "Company") are pleased to announce that following a competitive tender process, the Honourable Annastacia Palaszczuk MP, the premier of Queensland announced the Company and Real Energy Ltd ASX:RLE ("Real") as preferred bidders for the Queensland Government’s tender for acreage (PLR2019-1-11, see map) in a 50:50 Joint Venture, termed ‘Project Venus’. Strata-X and Real have invested considerable time in securing this highly prospective Coal Seam Gas (CSG) acreage for nil consideration." Could those with knowledge of these processes explain what the term preferred bidders refers to and the securing of the acreage for nil consideration really means. Is the bidding process finalized and did RLE get this acreage for nothing?
RLE Price at posting:
3.4¢ Sentiment: Sell Disclosure: Not Held