Expert: Steven Taylor - 11/9/2010

Question
Common story.  Going through my Mom's stuff as she is hospitalized and came across stock that her dad bought in 1942.  200 shares in Extension Oil Company limited, receipt no 346.  in 1986 she went to Winnipeg and transfered it to her name after my Grandmother died. At that time she still received royalties on a quarterly basis.  The transfer sheet lists it as Extension Oil Royalties Limited and she transferred it with the Central Trust Company in Winnipeg.  so how do I find out if it is worth anything.  she stopped receiving dividends in the 90s.  thanks  

Answer
Dennis, Extension Oil Royalties was not a publicly traded company. Instead, it was a royalty interest on 2 oil wells transferred from Extension Oil Company - the holders received a small percentage of all production from those 2 wells. Typically in these situations, when the oil wells go dry and stop producing, the royalty interest stops as well. Since it was not publicly traded, I have no other information on them. You need to contact the Province of Incorporation and see what information they have on it, or the oil and gas division of the province in which the wells were located (probably Alberta).