Wanderport Corporation Provides Corporate Update and Outlines Near-Term Growth Initiatives

SANTA MONICA, Calif., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Wanderport Corporation (OTC: WDRP), a holding company, with a focus on energy, clean mobility, and health technology, is pleased to provide a business update and outline its growth initiatives for the near term.

Oil and Gas Production and Expansion Plan

Wanderport has recently entered the oil and gas market through the acquisition of assets from AZ Desert, which includes varying working interests in 36 leases comprising over 200 wells in Oklahoma.

Since the acquisition, the Company has been committed to optimizing its operations for this new venture in addition to actively seeking capital to increase its interest in production output, considering that the combined production capacity of these wells can reach 1,100 barrels of oil and 6,000 Mcf of natural gas per day.

In addition to oil and gas production, AZ Desert's minority-owned service company is also involved in plugging non-producing wells. Currently, there are over 3,000 wells that need assessment and potential plugging if deemed non-functional. The Company anticipates benefiting from the revenue stream generated by the plugging services, as well as from the sale of unused equipment from these wells.

AZ Desert is also actively working to secure an investment to expand production. Once the transaction is finalized, the investor intends to invest up to $35 million over a six-month period.

The Company has engaged in discussions with individuals from the oil and gas sector and anticipates bringing a seasoned professional on board this month to spearhead growth in this business.

Investment and Revenue Sharing Programs

In addition to making its own investments in oil and gas production, Wanderport also acts as a broker, introducing investors to participate in the leases and share their production profits. Investment opportunities will soon be posted on the Company’s website.

Acquisitions

Wanderport endorses both fossil fuels and renewables as fundamental energy sources, recognizing that the transition to renewable energy will be gradual and that fossil fuels will continue to be essential in meeting global energy demands.

The Company is expanding its reach by seeking to acquire stakes in energy companies both in the U.S. and internationally. This move aims to diversify its portfolio and enhance its global market presence. By focusing on companies that employ innovative and sustainable energy methods, Wanderport intends to align its strategy with the industry's trend towards greener energy sources.