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

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.