Chapter 109: Decisive Action in a Critical Situation

  "Now, let's start the auction for oil well No. 144, located in Linpan block, with an average daily output of 3 tons, and a starting price of 100,000 yuan." The host's Cantonese Mandarin was extremely fast, and he raised his small hammer while speaking.

  But surprisingly, no one responded.

  Apart from Su Cheng and the four people mentioned earlier, only a handful of people had prepared funds exceeding 10 million. Faced with 300 oil wells, everyone had reason to wait.

  With no response, the auctioneer had to shout again before someone raised their paddle: "1 million."

  "110,000."

  "120,000."

  Finally someone raised their placard and the price slowly went up.

  The auctioneer secretly let out a sigh of relief and glanced at the four newcomers.

  The price soared to 250,000 yuan in a straight line, and none of the four people raised their paddles.

  The host struck the gavel and said: "The first oil well is awarded to Mr. 28, please pay the full amount immediately in cash or by bank draft."

  An oil well with a daily output of 3 tons, equivalent to 20 barrels per day, can be sold for 13,000 yuan. After deducting various costs, the annual profit is over 200,000 yuan. The bidding price is 250,000 yuan, which can be said to be very cheap, and it's usually unthinkable on ordinary days.

  Mr. 28 was very happy when he came on stage, and immediately poured out all the money in his bag, and then took out a bank deposit slip. It can be seen that his prepared funds are not much.

  He soon couldn't laugh anymore.

  The second well of Yangquan yields 2 tons per day, but only 120,000 yuan was made, which is less than half of the 3-ton well.

  It goes without saying that everyone knows others' money is not much and one's own money is also limited, so if you want to take a photo, you have to take a good one.

  The third well, also a small well with a daily output of 3 tons from Japan, was sold for only 210,000 yuan, which is equivalent to the cost recovered in one year. In the past, only those with extremely strong connections could get this price, let alone the equipment that came with the oil field.

  At this time, No. 28, who had made the first bid, was extremely disappointed and subsequently used 100,000 yuan to buy a 2-ton well, completely withdrawing from the auction.

  Of course, he will regret it later, but why stay inside and suffer.

  Until the 10th well, Su Cheng finally made a move and bought a 2-ton well for 70,000 yuan, which was about the same price as an abandoned oil well. However, it would pay for itself in just half a year, making it a great value.

  Before this, the previous 4 people also snapped up two small oil wells at only one-third of the usual price.

  The auction was proceeding very quietly.

  At the 30th well, Su Cheng took down 8 wells, Xiao Pang took down 2 wells, and the four people in front only took down 4 wells.

  This made Su Cheng feel a bit strange, thinking: Are these people not prepared to spend enough money? The price of each ton of oil well has dropped to 30,000 yuan, how much lower can it go, 20,000 yuan per ton of oil well? 10,000 yuan per ton of oil well? Is this necessary? If it's for one or two thousand yuan, giving up an oil well isn't a false economy, is it?

  "Perhaps having no money is the only explanation." Su Cheng thought to himself: If they had used cash for all transactions, the price might have even been halved. What didn't make sense was that since they had already allowed bank drafts, they should have had a new strategy in place; on the surface, it seemed like they had anticipated this situation.

  "The next item is No. 31 well, with an output of 2.5 tons, starting price at 700,000 yuan."

  An oil boss made an offer, and no one added to it.

  Su Cheng quietly calculated that he had prepared 11 million in cash and 120 million in cashier's checks. At this price, he could buy half of the oil wells. Xiao Pang still had around 2 million left, which would allow him to buy another 20 oil wells.

  At this point, Su Cheng no longer held back and started actively bidding.

  Starting from the 32nd well, he struck oil one after another for 10 wells, with a price of just over 200,000 yuan per ton, almost as good as picking up white money.

  It's simply unbelievable against the backdrop of rising oil prices.

  The four people who came first finally couldn't bear it and competed with Su Cheng at the 53rd well.

  Su Cheng immediately gave up and let him buy it for 300,000 yuan.

  Next, a group of people bid against each other. Several people spent all their money and dropped out of the auction, while others held onto their cash, waiting for better oil wells.

  Just as everyone's interest was waning, the host suddenly said: "The 67th oil well, with an average daily output of 23 tons, starting price is 200,000 yuan."

  A group of people suddenly woke up as if from a dream.

  A 23-ton oil well, with an annual net profit of tens of millions, is simply a gold mine. With such a well, you don't have to worry about anything.

  Everyone no longer holds back, and prices continue to rise.

  "500,000."

  ……

  "600,000."

  The Hong Kong-style auctioneer was delighted, and it finally looked like an auction scene.

  Su Cheng suddenly felt a bit puzzled at "700,000" and stopped.

  On one hand, this auction sequence is indeed strange, on the other hand, the previous 4 people have also stopped bidding.

  Su Cheng did not find any picketers, and the oil wells he took were all his own. The four people in front of him only scratched the surface and didn't go all out to take pictures.

  Next, more than 10 tons of high-quality wells appeared frequently, as many as 8 mouths. Su Cheng said: "Bao Rong also spent a lot of money on these wells, he must have endured great pressure."

  The oil bosses are competing fiercely, and even Xiao Pang can't help but join in. The profit of high-yielding wells is far higher than that of low-grade oil wells. 10 2.3-ton wells require 10 times more investment in equipment management and personnel.

  The final price of the oil well is basically all over 400,000 yuan per ton. Every oil boss who buys a high-yielding well basically loses the strength to fight again. However, they are naturally happy.

  When it reached 100, the auctioneer suddenly stopped and said: "Gentlemen, the next oil wells are all in the same block. We will auction them together. The 101st to 140th wells, a total of 40 oil wells, with an average daily output of 105 tons, starting price is 10 million."

  The bosses were in an uproar. Just now, even if there were 10 million people, they wouldn't have much money in their hands at this time.

  At this time, the data after 100 mouths of wells were distributed to everyone's hands.

  The four people in front started holding up signs.

  Su Cheng also raised his sign.

  In terms of strength, no one can surpass Su Cheng.

  The total amount of money from those four people is probably about the same as his. Otherwise, why would they go through Bao Rong to do this kind of business?

  In the end, the four-person group gave up and let Su City take the 40 wells for 22 million, with a ton price of only 200,000.

  The one on the left in the group of four suddenly turned his head and smiled.

  Su Cheng Bao smiled.

  Next are groups of oil wells. In fact, there will no longer be individual oil wells on hand either.

  Oil bosses with less than $10 million in funds are equivalent to being driven out, sitting in the auction hall is just a landscape painting. Those high-yielding wells are only available for oil bosses with more advantageous capital.

  Even Xiaopang, who had prepared 2-3 million yuan, was left with almost nothing.

  The second group of oil wells has 40 mouths, including 2 high-yielding wells.

  Su Cheng was calm and fearless, and they took a photo with 2.2 million yuan. When paying the money, he deliberately pulled out a stack of 100,000-yuan banknotes and slapped them twice in the air.

  A million votes were cast, making a "pa pa" sound, feeling extremely different, as if being spanked bare-bottomed.

  In fact, there is a stack of 100,000-yuan banknotes hidden inside.

  But the four-person group didn't know and instead became flustered. They started worrying that Su Cheng would buy up all the oil wells.

  If those tens of millions of votes were real, it's indeed possible.

  From the third group onwards, the four of them fought desperately with Su Cheng for it.

  Su Cheng did not want to cut off all the killings, letting the other side buy a group at a price of 350,000 yuan per ton. Then he killed another group and let the other side have one more group.

  You came and went, Su City actually bought 130 oil wells, and the tens of millions of dollars on his body had been used up.

  Only 90 left, can only choose a few of them now.

  Su Cheng was already very satisfied, casually holding the booklet and flipping through it from time to time, occasionally competing with each other.

  Because the cash bag on his land didn't move, others knew that he hadn't shown his hand yet and no one dared to give in easily, so the price actually showed a gradual upward trend.

  The next 10 wells were also high-yielding wells.

  Su Cheng flipped to the introduction page, took a glance, and suddenly shifted his gaze to the back.

  The third-to-last round was a super-low-yield well with an average output of only 0.5 tons, totaling less than 30 tons, and there was one high-yield well with an output of 12 tons. Adding them all up, it's estimated that the total will be just over 1 million.

  The ultra-low-permeability well has entered the tertiary oil recovery stage, which means that the crude oil in the reservoir is already semi-solid and cannot be extracted with an oil pump. It must use steam drive or chemical drive methods.

  The Shengli Oil Field has been experimenting with these methods in recent years, but the effect is very poor.

  But Su Cheng knew that in a few years' time, tertiary recovery would become the mainstream. However, Western countries had widely adopted tertiary recovery twenty or thirty years ago.

  These ultra-low-end wells can produce tens of millions or even hundreds of millions of dollars in value with just a few hundred thousand dollars' worth of renovation.

  He immediately started flipping forward, and while holding up the sign, counted the ultra-low-grade wells in the 300 wells... there were as many as 120 more.

  If new technology is adopted, these oil wells will have a better cost-effectiveness than high-grade wells, let alone low-grade ones.

  At this point, Su Cheng was even more active in the bidding process for the 10 high-quality wells, making the other side very nervous, until they gave up at a price of 350,000 yuan per ton.

  The four-man team reluctantly followed, and two people had already dropped out of the competition due to lack of strength.

  They bought a total of about 100 oil wells, which is still less than what Su City bought.

  By the third-to-last round, Su Cheng was still bidding in a normal manner, until the price reached 250,000 yuan, at which point the remaining two people looked at each other and suddenly fell silent.

  The auctioneer got the hint and immediately shouted: "This set of oil wells was obtained by General Su!"

  The two of them smiled lightly, thinking they had fooled Su Cheng. After all, the cost of ultra-low-grade oil wells was high, otherwise the oil field wouldn't be selling them off so aggressively.

  Su Cheng smiled slightly and didn't take it seriously.

  He thinks he got a good deal, while the other party feels they've been cheated, but isn't this also a kind of win-win situation?

  Su Cheng picked up the cash bag and poured all the money inside to the organizer.

  The four of them let out a sigh of relief.

  Bao Rong is also like this.

  The second-to-last piece, everyone was relaxed, thinking that they had squeezed out all the funds from Su City and everything would be fine. Suddenly, someone shouted: "10 million!"

  Su's mouth corners slightly curled up.

  He bought 175 oil wells, more than half of the auctioned oil wells, and indeed spent all his money, but other oil bosses didn't really lose a single penny.

  That group of people hid behind and gathered together, came up with tens of millions, not difficult at all, they just set their sights on the last high-yielding well.

  The last two groups of 15 wells with high yields are absolutely illegal operations, the highest single well has a daily output of 40 tons... The price plummeted to a sky-high price of 8 million yuan...

  The four-man team could only give up. Bao Rong's face was extremely bad.

  He worked hard and earned a lot of benefits, but the biggest benefit was taken away by Su Cheng. He didn't even get the last two groups of wells, which is really frustrating and has reason to be angry.

  Xiao Pang secretly admired and whispered: "Fortunately, we've already spent all the money."

  Unless they deliberately leave money behind, Suzhou will also struggle to keep 80 million. Let's see how the bosses look later, and 100 million seems to be spent too.

  Su Cheng nodded in satisfaction, and said softly: "You go over there later and chat with the people who are pumping oil wells. Exchange all their ultra-low-grade wells for ours. We'll use about 3 tons of low-grade wells to exchange, as long as the output is the same."

  Xiao Pang didn't understand but quietly went back anyway.