SANTA MONICA, CA, November 30, 2023 – Wanderport Corporation (OTC: WDRP), 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.
Forward Looking Statements:
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