so just so I understand this correctly and a couple of questions...
1. whoever bids the highest after 3 days of bidding is awarded the exploration license?
2. there are no other factors in play, highest bid wins?
3. bidding is open; ie, all parties know what the other $ bids are during the auction proceedings or is it closed and perhaps revealed at end of each day of the auction, or something different like a ranking system?
4. why does it take 3 days as this seems excessive? is it to give the parties a chance to revise their numbers each night?
apologies if these have already been addressed in the threads or comms.
Ann: Alara-Tasnim Khnaiguiyah License Bid Enters Final Round, page-84
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