Republic of China: Ace Pilot

As soon as Fang Wen finished his report, the New Fourth Army headquarters immediately issued the order to cross the river. The ferry, which had been hidden in the reeds on the south bank of the river, quickly left the hiding area and headed towards the crossing.

These ferries were civilian wooden boats hidden by local people and organized by the local underground party and guerrillas.

There was also a small motorboat used by the Japanese army to cross the river, which was captured at the ferry crossing.

At this time, the Yangtze River was swept by strong winds and high waves, with the turbid waters slapping against the sides of the boats and making a rushing sound.

The soldiers boarded the boats in an orderly fashion, with each wooden boat carrying more than ten people. The soldiers vigilantly observed the movement on the river, ready to deal with any possible emergencies. Some soldiers even volunteered to help the boatmen row, speeding up the crossing.

The boatmen are local people who are familiar with the river and have worked on the Yangtze River for many years. They are very skilled at crossing the river.

In response to the possibility of enemy activity on the north bank of the river, the first to cross the river were the vanguard troops of the New Fourth Army. They boarded motorboats and headed to the north bank to establish a guard line at the ferry crossing and ensure the safe landing of the main force.

While crossing the river below, the gunboats of the air regiment had already returned to base, awaiting further orders to launch an attack.

Only the gunboat piloted by Fang Wen remained hovering over the river.

He needed to ensure he had a grasp of the situation on both the upper and lower reaches of the Yangtze River during the crossing in order to deal with any potential Japanese warships.

Fortunately, the Japanese army had not yet reacted to the attack. Of the two gunboats in the vicinity, one was sunk and the other had long since disappeared.

On the river, wooden boats shuttle back and forth in an orderly fashion, their oars flying, creating a breathtaking yet hopeful scene of crossing the river.

The soldiers sat on the boat, letting the river wind tousle their hair and the river water splash on their clothes, their eyes remaining firm. They knew that crossing the Yangtze River meant escaping the Kuomintang's encirclement and suppression, and that they could continue to fight on the anti-Japanese battlefield for national liberation.

During this time, several wooden boats encountered an undercurrent on the river, causing them to rock violently and threatening to capsize at any moment. The soldiers on board immediately helped each other to stabilize the boats, while the boatmen, relying on their rich experience, struggled to adjust their course and avoid the undercurrent.

The ships continued to travel back and forth.
As night fell, a faint twilight descended over the Yangtze River, providing better cover for the troops crossing the river.

Night did not stop the crossing of the river. The military ordered the crossing to be accelerated, and batches of soldiers successfully arrived on the north bank of the river and quickly joined the guard line to support the follow-up troops.

In the early hours of the morning, the last batch of New Fourth Army soldiers boarded wooden boats and sailed towards the north bank of the Yangtze River.

Meanwhile, in the sky, Fang Wen piloted the gunship aircraft on its third aerial reconnaissance patrol.

As the last wooden boat approached the Jiangbei ferry and the soldiers successfully landed, a huge weight was lifted from my heart.

As the first rays of dawn broke through the sky and the mist on the river gradually dissipated, the main force of the New Fourth Army had successfully crossed the Yangtze River, breaking free from the Kuomintang's encirclement and suppression and escaping the Japanese army's blockade along the river.

The wooden boats that had helped the villagers cross the river were slowly sailing back to the south bank, and the boatmen had smiles of relief on their faces.

Fang Wen also piloted the plane back to Junshan Lake.

The gunboat landed smoothly on the lake, stirring up ripples, and then slowly sailed toward the makeshift dock.

The cabin door opened, and Gong Xiuneng jumped ashore using a buoy to tie the cable to a wooden stake. Then Fang Wen and the other crew members disembarked.

The entire flight crew had arrived at the dock.

Fang Wen announced loudly, "Comrades, I have some good news to share—the New Fourth Army headquarters, with over 9000 men, has successfully crossed the river to the north, shaking off the Kuomintang's encirclement and pursuit and the Japanese blockade. You all worked hard on this mission, and I'm very happy to have been able to carry it out with you. Every single one of you has done a great job!"

As soon as he finished speaking, thunderous cheers erupted on the dock. The soldiers high-fived and hugged each other, their faces beaming with victorious smiles.

During this operation, they witnessed firsthand Fang Wen's precise and captivating aerial command skills. Whether it was reconnaissance and early warning, fire support, or airborne coordination, Fang Wen's command was methodical, accurate, and efficient.

As the cheers subsided, the commander of the New Fourth Army's air regiment strode forward and grasped Fang Wen's hand tightly: "Commander Fang, thank you so much this time! If it weren't for you, we wouldn't have been able to discover the Kuomintang army's conspiracy, and we might have fallen into their ambush. It's a rare and successful mission. Please stay for a day so we can celebrate properly and let the soldiers learn from you."

Fang Wen gently shook his head, apologizing on his face: "Commander, I appreciate your kindness. This support for the New Fourth Army was an emergency operation, and I have more urgent matters to attend to. Another war is about to break out in French Indochina, and things there cannot be delayed. Now that the problem here has been completely resolved, I must return immediately."

Seeing this, the squadron commander knew that Fang Wen was busy and did not insist. He could only nod regretfully, "Since Mr. Fang has other important matters to attend to, we will not keep you any longer."

"Thank you." Fang Wen nodded slightly, then turned and walked to his gunboat, instructing the crew, "Refuel the plane immediately, conduct a full inspection of the fuselage, engine, and reconnaissance and photography equipment to ensure there are no hidden dangers on the return journey. We are about to take off and return to our base in northern Myanmar."

The crew immediately sprang into action, and ground staff quickly arrived to assist, refueling, repairing, and inspecting equipment. In less than an hour, all preparations were completed.

Fang Wen boarded the gunboat, started the engine, and the roar sounded again. The plane slowly took off from the dock, accelerated on the lake, and then steadily took off, speeding towards the base in northern Myanmar.

After several hours of long-distance flight, the gunship aircraft finally arrived at its base in northern Myanmar.

After the plane landed smoothly, Fang Wen did not stop for a moment. He immediately went to the base's communications room and called French Indochina to inquire about the situation there.

The French telegram reads: "Most of our military supplies have been successfully delivered to French Indochina. We are now fully engaged in expanding our forces, and all preparations are progressing smoothly. However, we are concerned that the Japanese might launch an attack prematurely, so our troop strength needs to be further increased."

After reading the reply, Fang Wen did not immediately set off for Hanoi, but instead flew to Yangon.

He also had a crucial matter to attend to: discussing the equity transaction of the Myanmar Oil Company with the Governor-General of Myanmar.

Oil is the lifeblood of war, and controlling the Myanmar oil company plays a vital role in subsequent operations and development.

Soon, the plane took off again and flew towards Yangon.

Upon arriving in Yangon, Fang Wen went directly to the Governor-General's Office in Myanmar, where he was personally received by the Governor-General.

After exchanging pleasantries, the two sides immediately got down to business and discussed the equity transaction of Myanmar Oil Company.

The Burmese governor sat upright in his chair, his face somewhat solemn, and slowly began to speak: "Mr. Fang, as you know, Britain is currently under blockade by the German army, and our oil production is simply unable to meet the needs of Britain. The oil companies are also facing many difficulties in their operations."

He paused, looked at Fang Wen, and stated his position: "If your Taishan Airlines is willing to purchase all the shares of the Myanmar Oil Company and promises to guarantee the Far East Fleet's fuel supply in subsequent operations, then we can agree to this equity transaction and transfer all the shares of the oil company to you." Fang Wen was overjoyed; this was exactly the result he wanted. Without hesitation, he immediately nodded and replied, "Governor, it's a deal! I can assure you that after Taishan Airlines purchases the shares, it will do its utmost to guarantee the Far East Fleet's fuel supply, and at the same time, ensure the normal operation of the oil company, without affecting the oil supply to Yangon and the surrounding areas."

The Burmese governor, seeing Fang Wen's straightforwardness, smiled with satisfaction and extended his hand: "Good! Mr. Fang is indeed decisive. I wish us a pleasant cooperation!"

Fang Wen extended his hand and shook hands firmly with the Governor: "It's a pleasure to cooperate! I think it's best to complete the share transfer as soon as possible. How about Your Excellency act as an intermediary and conduct the share transaction negotiations now?"

The governor was stunned: "Why are you in such a hurry?"

Fang Wen replied, "We have no choice but to hurry. The French are about to go to war, and I must finalize the equity transaction here as soon as possible so that I can participate in the war with peace of mind."

Upon hearing that it concerned French Indochina, the governor took it very seriously. After all, French Indochina was a buffer zone between the British and the Japanese. If the French were to fail, they would have to face the Japanese directly, which was not something the governor wanted to do.

Therefore, he immediately instructed his secretary to notify the general manager and executive director of the Myanmar oil company to come over.

Inside the Governor-General's office, senior executives of the Burma Oil Company arrived.

Sir Vera, the general manager of the oil company, spoke up: "According to the telegram we just received, the House of Lords has approved the plan to sell the remaining shares and has entrusted us with handling the matter."

Sitting opposite the management personnel of the Myanmar oil company were people from Taishan Airlines: Fang Wen, Manager Liu, and Fang Shouxin. Outside were some accounting staff from the finance department.

The Burmese governor picked up the English tea on the table, took a small sip, and looked at Fang Wen: "Can we begin now?"

Fang Wen nodded: "Okay."

Sir Vera then continued:

“Mr. Fang, now that we have reached a consensus in principle, the next step is to discuss the specific terms. All of Burmah Oil’s assets in Myanmar, including the three major oil fields of Yenangyaung, Yenangyaung, and Singku, the two oil refineries of Siriam and Yenangyaung, 300 kilometers of oil pipelines, all oil depots and wharves in Yangon and along the river, as well as the oil franchise granted by the colonial government, will be transferred to Taishan Airlines.”

He paused, then added, "The company's accounts at its London headquarters, as well as its 21% stake in Anglo-Polish Oil Company, will also be transferred together. Based on this year's accounting valuation, the entire stake is valued at £12 million. You must pay in full within three months and sign an agreement guaranteeing that for the next five years, you will prioritize supplying the British Far East Fleet with no less than 500,000 tons of fuel oil per year at a price 10% lower than the international market price."

After Sir Vera finished speaking, he waited for a response from Taishan.

Fang Wen and his group talked.

Manager Liu said in a low voice, "General Manager, the price is too high. We simply don't have that much money in our accounts."

Fang Shouxin added: "This is different from the value of our last purchase. The overall acquisition had many assets that were useless to us."

"Let me think about it."

After Fang Wen finished speaking, he pondered in his heart.

英国官方固定汇率为1英镑=4.03美元，1200万英镑× 4.03美元/英镑= 4836万美元；
Even with loans from the American consortium, Taishan Airlines' total assets amounted to only $2900 million.

In other words, even the wealth of Mount Tai wouldn't be enough to take a bite out of the huge cake that is Myanmar Oil Company.

Moreover, Fang Shouxin was right; not everything in the Myanmar oil company's asset package was of interest to Taishan.

such as:

Much of the oil company's infrastructure is used for transporting oil within Myanmar and to India. These facilities are not of much value to Taishan, since future oil production will mostly be transported to its base in northern Myanmar.

It also holds a 21% stake in Anglo-Polish Oil Company, which will later be renamed BP Oil Company, monopolizing the Pahlavi dynasty's oil industry, which is the future of Iran's oil.

Its shareholding structure is as follows: the British government holds an absolute controlling stake of 51% to ensure the supply of fuel to the navy; the remaining 49% is private capital, with Myanmar Oil Company holding approximately 21% of the shares.

This portion constitutes the bulk of the acquisition's capital expenditure, accounting for half of the £1200 million acquisition price.

In other words, they could choose not to take the 21% stake in Anglo-British Petroleum, which would only require them to pay $2400 million for the acquisition. If they negotiated further, they might be able to get it for $2000 million.

But is this a good thing?
No, Fang Wen rejected the idea in his mind.

Anglo-Poland Petroleum is much larger than Myanmar Petroleum, and a 21% stake is extremely valuable. Only under these circumstances could Anglo-Poland Petroleum's stake be acquired through the acquisition of Myanmar Petroleum Corporation. This is a once-in-a-lifetime opportunity.

After World War II, the value of oil companies will increase significantly.

But how can they come up with the $4800 million acquisition price?

He thought for a moment and then said, "Sir Vera, you are in full charge of the share acquisition. I have a question: can you accept installment payments and capital bets?"

Sir Vera asked in surprise, "Please elaborate."

“A £12 million expenditure is too enormous. I just participated in the arms procurement in French Indochina. Their entire colony’s annual revenue surplus was only worth $90 million, all of which was used to purchase arms. As a private company, I cannot possibly come up with $48 million to buy shares. My idea is to repay the share purchase price over 10 years, paying 10% interest each year. That way, after ten years, you will receive an additional 100% return.”

"No, ten years is too long. We can't wait that long. What if..."

"What if Britain loses? I understand your concerns. That's why I've added a capital bet. If Britain loses this world war, I'm willing to pay £2 million in compensation and return the shares to you. But if Britain wins, I will receive an interest waiver and be able to buy back the shares at the original price without paying 10% interest annually."

His words resonated with the British!

The British, of course, hoped that their country would win the war.

Moreover, the betting agreement that Fang Wen mentioned actually benefits them regardless of whether they win or lose.

For Fang Wen, only victory would bring him benefits. (End of Chapter)