Wanderport Corporation Signs Definitive Agreement to Acquire Oil and Gas Assets from AZ Desert LLC

Rhea-AI Summary

Wanderport Corporation (OTC PINK:WDRP) acquires assets from oil and gas holding company AZ Desert LLC, expanding into the energy sector. The acquisition includes 36 leases with over 200 wells in Oklahoma, projecting a total daily production of 1,100 barrels of oil and 6,000 Mcf of natural gas. Wanderport is seeking a $10 million facility for anticipated growth and is exploring opportunities in the renewable energy sector while maintaining a balanced energy portfolio.

SANTA MONICA, CA / ACCESSWIRE / November 30, 2023 / Wanderport Corporation (OTC PINK:WDRP), a holding company with a focus on energy, clean mobility, and wellness technology, is pleased to announce the signing of the Definitive Agreement for the acquisition of a range of assets from the oil and gas holding company, AZ Desert LLC.

Wanderport is strategically expanding into the energy sector with the acquisition of specific assets from AZ Desert LLC ("AZD"), an oil and gas investment and holding company. AZD holds varying percentage working interests in 36 leases, comprising over 200 wells, primarily located in the state of Oklahoma.

The total production capacity from the wells is projected to yield a total of 1,100 barrels of oil and 6,000 Mcf of natural gas per day. To familiarize itself with the new business and address logistics and account management issues, Wanderport will initially acquire assets that yield a daily production of 50 bbl and 200 Mcf in exchange for a convertible promissory note. The Company has the option to acquire additional working interest and will gradually secure them, starting in Q1.

To support anticipated growth in this sector, Wanderport has been exploring private investment options. The Company is seeking a facility totaling $10 million, consisting of a combination of debt and equity.

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.

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

"This definitive agreement marks a significant milestone for Wanderport Corporation as we strategically expand our footprint in the energy sector," commented Miki Takeuchi, Chief Executive Officer." The acquisition of AZ Desert's assets aligns seamlessly with our vision of creating a diversified and robust energy portfolio. We are particularly excited about the impressive production metrics that enhance our position in the market."

About Wanderport Corporation

Wanderport Corporation is holding company with a focus on energy, clean mobility, and wellness technology.

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

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FAQ

What assets did Wanderport Corporation acquire from AZ Desert LLC?

Wanderport Corporation acquired a range of assets from AZ Desert LLC, including 36 leases with over 200 wells in Oklahoma.

What is the projected total daily production from the acquired assets?

The acquired assets are projected to yield a total of 1,100 barrels of oil and 6,000 Mcf of natural gas per day.

How much funding is Wanderport seeking for anticipated growth?

Wanderport is seeking a $10 million facility, consisting of a combination of debt and equity, to support anticipated growth in the energy sector.

Is Wanderport exploring opportunities in the renewable energy sector?

Yes, Wanderport is actively exploring opportunities in the renewable energy sector while maintaining a balanced energy portfolio.

Who commented on the acquisition of AZ Desert's assets?

Miki Takeuchi, Chief Executive Officer of Wanderport Corporation, commented on the acquisition of AZ Desert's assets, stating that it aligns with their vision of creating a diversified and robust energy portfolio.