Wanderport Corporation Expands Portfolio: Signs LOI to Acquire Oil and Gas Holding Company, AZ Desert LLC

Rhea-AI Summary

Wanderport Corporation (OTC PINK:WDRP) announces LOI to acquire AZ Desert LLC, an oil and gas holding company, signaling strategic expansion into the energy sector. The acquisition involves interests in 36 oil and gas well leases, a minority stake in a third-party exploration company, projected to produce 700 barrels of oil and 2.7 million Mcf of natural gas per day. Wanderport emphasizes the importance of oil and gas in the global energy mix, while also recognizing the need for a balanced energy portfolio that includes renewable sources. The company also plans to explore and capitalize on additional resources such as natural gas, lithium, and geothermal energy.

Positive

• Strategic expansion into the energy sector with the acquisition of AZ Desert LLC
• Investment in diverse energy assets, including interests in 36 oil and gas well leases and a minority stake in a third-party exploration company
• Projected production of 700 barrels of oil and 2.7 million Mcf of natural gas per day
• Recognition of the importance of oil and gas in the global energy mix and the need for a balanced energy portfolio
• Plans to explore and capitalize on additional resources such as natural gas, lithium, and geothermal energy

Negative

• None.

SANTA MONICA, CA / ACCESSWIRE / November 9, 2023 / Wanderport Corporation (OTC PINK:WDRP), a holding company specializing in health and wellness, clean mobility and artificial intelligence, is pleased to announce the signing of Letter of Intent (LOI) to acquire the interest in an oil and gas holding company, AZ Desert LLC.

Wanderport is strategically expanding into the energy sector with the acquisition of AZ Desert LLC ("AZD"), an oil and gas investment and holding company. This move involves an investment in AZD's diverse energy assets, including interests in 36 oil and gas well leases and a minority stake in a third-party exploration company with over 200 wells, primarily in the state of Oklahoma. The exploration company is projected to produce 700 barrels of oil and 2.7 million Mcf of natural gas per day. These developments underscore Wanderport's commitment to contributing to the US energy landscape.

This strategic acquisition highlights the continuing significance of oil and gas in the energy sector, especially when compared to renewable energy sources. While renewable energy is growing and promising, oil and gas remain crucial components of the global energy mix, providing stability, versatility, and reliability to meet the demands of industries and consumers worldwide.

Wanderport recognizes the importance of transitioning to cleaner, more sustainable energy sources and is actively exploring opportunities in the renewable energy sector. However, acquiring AZD's assets demonstrates the Company's dedication to maintaining a balanced energy portfolio that includes conventional sources vital for ensuring energy security and stability in the years to come.

As the energy landscape evolves, Wanderport remains committed to pursuing a diversified energy strategy that incorporates both conventional and renewable sources, striving to meet the needs of today while preparing for a sustainable and cleaner energy future.

Strengthening the United States' position and reducing its reliance on Middle Eastern oil through increased domestic production is both a strategic and economic goal. By pursuing these strategies, the US can enhance its energy security, bolster its economic position, and reduce its reliance on Middle Eastern oil. This approach supports a more diversified, sustainable, and resilient energy future.

Wanderport will leverage this transaction to explore and capitalize on additional resources such as natural gas, lithium, and geothermal energy, utilizing existing infrastructure.

Natural gas is highly regarded for its dual attributes of cleanliness and efficiency. As a clean-burning fossil fuel, it produces low greenhouse gas emissions for power generation, reducing the environmental footprint. It is remarkably efficient, with high energy content and minimal waste, making it an invaluable commodity, particularly when converted into Liquefied Natural Gas (LNG) for international export.

Lithium extraction from oil wells, also known as geothermal lithium extraction, involves repurposing oil wells to access underground brine reservoirs containing lithium. This innovative method offers potential benefits like reduced environmental impact and a diversified supply chain for lithium, a crucial element for batteries.

Repurposing depleted or underutilized oil wells for geothermal energy production is an innovative and sustainable approach. It involves extracting geothermal fluids from these wells and using their heat to generate electricity, leveraging existing infrastructure to provide constant and renewable energy.

Wanderport expects to complete its due diligence and close the transactions on or before the end of the month.

The Company recently canceled 100 million shares of its common stock to improve its balance sheet. It will now begin implementing operational adjustments to enhance its human and capital resources, and strengthen its fundamentals in preparation for anticipated growth in 2024 and beyond.

"Wanderport is thrilled to announce our strategic expansion into the energy sector with the acquisition of AZ Desert LLC. This acquisition underscores the enduring importance of oil and gas while recognizing the need for a balanced energy portfolio. We remain dedicated to contributing to the US energy landscape and are actively exploring opportunities in renewable energy. We look forward to leveraging this acquisition to explore additional resources, including natural gas, lithium, and geothermal energy, as we continue our commitment to a sustainable and cleaner energy future," commented Miki Takeuchi, Chief Executive Officer.

About Wanderport Corporation

Wanderport Corporation is a holding company specializing in health and wellness, energy, clean mobility and artificial intelligence.

For more information, please visit https://wanderportcorp.com.
Facebook: wanderportcorporation
Twitter: @wanderportcorp

Forward-Looking Statements:

Statements made herein constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect current judgment regarding the direction of the business operations of Wanderport Corporation, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this press release.

Contact:

Wanderport Corporation
www.wanderportcorp.com

Investor Relations:
Miki Takeuchi
ir@wanderportcorp.com

SOURCE: Wanderport Corp
via PRISM Mediawire, LLC

View source version on accesswire.com:
https://www.accesswire.com/801618/wanderport-corporation-expands-portfolio-signs-loi-to-acquire-oil-and-gas-holding-company-az-desert-llc

FAQ

What is the significance of Wanderport Corporation's announcement regarding AZ Desert LLC?

The announcement signifies Wanderport's strategic expansion into the energy sector through the acquisition of AZ Desert LLC, an oil and gas holding company.

What assets are included in the acquisition of AZ Desert LLC?

The acquisition involves interests in 36 oil and gas well leases and a minority stake in a third-party exploration company, projected to produce 700 barrels of oil and 2.7 million Mcf of natural gas per day.

What is Wanderport's approach to the global energy mix and renewable energy sources?

Wanderport emphasizes the importance of oil and gas in the global energy mix while recognizing the need for a balanced energy portfolio that includes renewable sources. The company also plans to explore and capitalize on additional resources such as natural gas, lithium, and geothermal energy.