Expert: Steven Taylor - 2/5/2010

Question
I have inherited 300 common shares from Ashgrove Resources Ltd. purchased trhough A.C. Macpherson in 1990.  Ashgrove Resources Ltd. was listed on the Alberta Stock Exchange, symbol ASH.  Are these shares worthless now.

Answer
From the information I have available, those shares might have some current value, but not a lot, unfortunately.

The Company went through numerous name changes and at least 2 reverse splits - a 1 for 6 and a 1 for 4 - which would reduce the current number of shares from the original 300 to about 12. The company is currently Advantage Oil and Gas, which trades on the TSX for about $6.85 per share. You will need to contact the current transfer agent, Computershare (www.computershare.com) to see if those shares are valid and, if so, to get them reorganized into the new shares.