SANTA MONICA, CA, November 9, 2023 – PRISM MediaWire - Wanderport Corporation (OTC: 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.
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.
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