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.
Wanderport is currently evaluating a company that engages in refurbishing electric car batteries as a potential acquisition candidate. Additional information about this opportunity will be provided as it becomes available.
Consulting and Advisory Services
Wanderport is currently involved in a project in Vietnam, assisting in the procurement of financing for two local oil and gas distribution entities, each with revenues in excess of $40 million. This initiative represents not only a potential strategic investment in the rapidly growing Vietnamese energy market but also the possibility of an acquisition. Additionally, the Company is exploring the potential of assisting these entities to list and trade publicly in the U.S. through reverse mergers. This process underscores Wanderport's commitment to expanding its international footprint while adhering to its strategic vision of growth and diversification in the global energy sector.
Additional details about the above initiatives, along with a general roadmap, will be provided later this quarter.
"We've spent the past few months evaluating and refining our business model, and I'm confident about our path forward," stated Miki Takeuchi, Chief Executive Officer. "Our near-term initiatives are designed to tap into significant growth opportunities, focusing on strategic acquisitions and exploring new markets. These steps are aimed at strengthening our market position and delivering substantial value to our shareholders," Takeuchi concluded.
About Wanderport Corporation
Wanderport Corporation is a holding company with a focus on energy, clean mobility, and HealthTech. The Company currently holds varying percentage ownership in 36 leases with over 200 oil and gas wells in the state of Oklahoma. The Company seeks to grow through the strategic acquisition of international assets.
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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.
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Wanderport Corporation
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Miki Takeuchi
