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The Queensland Department of Natural Resources and Mines announced it will take cash bids for oil and gas blocks under its new competitive tendering process, according to the Australian Financial Review.
One block is near Condamine and the other near Miles in southern Queensland.
The process only applies to large highly prospective gas, oil, and coal areas chosen by the government and not all new blocks, Natural Resources and Mines Minister Andrew Cripps said in the article.
Bidding closes on Feb. 14.