Capítulo 275: Chapter 275: Entering Middle East Oil
**Long Beach**
Hardy and his team arrived at Long Beach, where Manager John greeted them with a respectful smile. "Boss, you're here," he said, opening Hardy's door.
"Take me to the oil well," Hardy instructed.
"Right away, Boss."
After a long journey, they reached the oil well site. The tall iron frame of the rig stood prominently, with workers busy around it and an oil lake nearby.
John introduced the site with enthusiasm. "Boss, we've struck a spouting well here. The oil quality is excellent, and the output is impressive—over 5,000 barrels per day."
Hardy calculated in his mind. With oil priced around $2.50 per barrel, and this rate expected to last for about ten years, the annual revenue from this well would be around $4.5 million. After deducting costs, the net profit would still exceed $2 million annually.
Though this amount was relatively modest for Hardy, he was pleased. The success of this well fueled his interest in expanding further into the oil industry. After returning to the company, he decided to contact Armand Hammer.
Upon connecting with Hammer, Hardy transitioned the conversation from small talk about a cow he had bred to a more pressing matter.
"Mr. Hammer, I recently acquired a small oil company, and we've just struck a well with a daily output of 5,000 barrels. The annual profit is around $4.5 million."
"Congratulations, Mr. Hardy," Hammer responded, though he was puzzled by the sudden shift in conversation.
"Thank you. I'm interested in having you partner with me in running this oil company," Hardy proposed directly.
Hammer was taken aback by the offer. "Why me? I have no prior experience in the oil industry."
Hardy explained, "You have extensive business experience, and I believe you'd be a valuable partner. I thought of you because of your expertise and insight. Are you interested?"
Hammer remained skeptical. "What kind of partnership are you proposing?"
"I'm offering you a 15% to 20% share in the company, along with 5% of the operational shares," Hardy detailed.
Hammer hesitated. "I need some time to think about it."
"Of course, take your time. I'll be waiting for your decision."
After ending the call, Hammer pondered the offer. Despite having no background in oil, he was intrigued by the potential of starting a new venture. His current ranch business was stable, but the prospect of a new challenge was appealing.
The next day, Hammer called Hardy with his decision. "I'm willing to give it a try."
"Great! I look forward to working with you. I'll see you in Los Angeles," Hardy responded with enthusiasm.
Hammer arrived in Los Angeles and, along with Hardy, visited the oil field once more. After inspecting the new well, Hammer agreed to invest. He purchased 15% of the shares for $850,000 and acquired 5% of the management shares, becoming the company's CEO.
In the oil company's office, the team discussed future plans. Hardy unfolded a map and pointed to a region labeled "Saudi-Kuwait Neutral Zone."
"This area, situated between Kuwait and Saudi Arabia, is currently a neutral zone with no clear sovereignty. It spans 2,200 square miles, and I believe it has significant oil potential. I'd like you, Hammer, to secure the mining rights here."
John and Hammer were surprised.
John remarked, "Saudi Arabia is dominated by major British oil companies and Mobil Oil. It might be difficult to penetrate this market."
Hammer added, "And with ongoing conflicts in the Middle East, it might not be the best time to invest."
Hardy remained confident. "The conflict doesn't concern us. As for the land, this neutral zone is unclaimed and ripe for exploration."
"Do you believe there is oil there?" Hammer asked.
"Previous explorations didn't find favorable conditions, but I have a strong intuition about this location," Hardy replied with a smile.
Hammer was skeptical but intrigued by Hardy's conviction.
Ultimately, Hammer agreed to Hardy's proposal. John would continue overseeing domestic operations while Hammer and his team prepared to negotiate mining rights with the Saudi royal family.
**Walsh Mining**
Meanwhile, Hardy turned his attention to Walsh Mining, which had been under his control for some time. Though the company had not been in the spotlight, Hardy had sent Columbus to explore potential mining sites in Australia.
Upon receiving news of a gold discovery, Hardy arranged for Columbus to return and report in person. Columbus arrived at Hardy Group's headquarters, looking like a rugged prospector, and presented several samples.
"This is gold ore," Columbus explained. "Our tests indicate a concentration of about 8 grams per ton, which qualifies as rich ore."
Hardy inquired about the reserves.
"We've drilled five exploratory holes, and preliminary estimates suggest over 200 tons of gold. This is a significant find, though more detailed exploration is needed to confirm the exact quantity."
Impressed, Hardy praised Columbus and promised substantial bonuses for the team.
"Thank you, Boss," Columbus said with a grin before leaving.
Hardy then briefed two vice presidents, Jason and Andrew.
"Jason, handle the purchase or lease of the land from the Australian government. Obtain the mining concession for the gold mine," Hardy instructed.
"Understood, Boss," Jason replied.
"Andrew, manage the financial side. Once Jason secures the mining license, announce the discovery to boost Walsh Mining's stock price," Hardy added.
Andrew nodded, ready to take action.
Hardy, holding 91% of Walsh Mining shares, knew the stock price would soar with the gold discovery. The combined efforts of his financial team and strategic publicity would ensure significant profits, even before the gold was mined.
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