If successful, Bowen Energy will add to its growing portfolio assets the EPC 890 Rocklands project, MDL 324 Hillalong Project and 60% of EPC 930 Richfield Project, all located in Queensland’s Bowen Basin.

Bowen is offering Rocklands’ shareholders one Bowen share and 10c for every two Rocklands shares held.

Bowen said the deal would enable it to utilise its memorandum of understanding strategic partnership agreement with Bhusham Steel and would fast-track the development of MDL 324 and EPC 890.

Bowen said the bidder’s statement would be lodged within one month and an announcement sent to shareholders 14 days after lodgement.

Bowen was trading at $A29.5 cents today.