Expert: Steven Taylor Date: 6/27/2008 Subject: Chief Redwater Oils Limited/West Plains oil Resources lImited
Question my parents purchased this stock in February l949.
What happened to this company which was purchased thru Sterling Securities.
Answer Elaine, I have been asked about Chief Redwater Oils or West Plains (I believe Chief Redwater merged into West Plains) several times. Because there are so many certificates floating around out there, it does not look good for any value.
I don't know much about the status of the stock, but I do know that in 1957 it was named by the SEC in the US as a stock that was illegally selling shares in the United States absent of registration. Not a good sign for it being a company that was managed in a manner that would suggest they amounted anything worthwhile. Usually I suggest tracking the stock through the transfer agent, but I believe the agent was Guaranty Trust, which is long out of business. You could try the Province of Incorporation and see if they have any info, or take the certificate to a broker and ask them to perform a more detailed search.
