For cash bid exploration permits, a sealed bid auction will be run by NOPTA. Cash bid permits will be awarded to the applicant that first satisfies the prequalification criteria and then, once invited by the Joint Authority, places the highest cash bid for the area that meets or exceeds the reserve price.
Preparing your application
Applying for a cash bid permit is a two stage process:
- Cash bid application - prequalification.
- Cash bid auction - with deposit.
Cash bid application - prequalification
Each applicant who intends to place a cash bid must first prequalify with the Joint Authority by providing evidence of their technical and financial competence. One prequalification application can be submitted for all cash bid release areas that the applicant intends to bid on. The applicant may be a joint venture comprised of more than one company - further information is available in the Cash bidding guideline.
Bids must be lodged in the manner specified in the Australian Government Gazette notice.
One electronic copy, for each applicant, along with the relevant application form and fee, must be received by NOPTA, on behalf of the Joint Authority, at: email@example.com by 4:00pm Thursday 5 October 2017. A receipt of prequalification application will be issued by NOPTA to the applicant.
The cash bid application prequalification form and the amount of the application fee is available on NOPTA’s website.
All prequalification applications are treated as commercial-in-confidence.
Cash bid auction - with deposit
Applicants who have satisfied the prequalification criteria will be advised of their eligibility to submit a cash bid application for the area or areas. The invitation will specify a period the applicant may submit the cash bid, with an opening and closing date and time and in the manner the cash bid must be made.
Cash bids must be received before 4:00pm (WST time) on Thursday 8 February 2018.
The cash bid must state the cash amount, in Australian Dollars, the applicant is willing to pay for the area and must be accompanied by evidence of payment of the 10 per cent deposit of the cash bid amount into NOPTA’s nominated account.