Canadian Stocks/certificates - are they worth anything
My brother had a call from someone wanting to buy (not alot of $ offered) my deceased (for 37 yrs) father's certificates. Are these certificates worth something, is there some money sitting there to be paid out (but just can't locate the family anymore) ,or are they just worthless? I think that they are oil & gas certificates. The only info I have is that they are Central Guaranty. Certificates are:1. Breckon Richwell Gross Royalty Trust with the producer Pembina Exploration Co. Ltd. 2. Alberta Pacific Royalties No. 1 Well Net Producer Pembina Exploration Co. Ltd.
I appreciate any help that you can give me. Thanks.
Lanette, this is a very interesting situation.
What you have are not oil and gas stock certificates, but production royalty interests. They assign the holder a percentage of all oil and gas produced from those specific wells or properties.
The fact that someone tracked you down and offered to buy them means they like do, or are expected to, have value. And when they make that kind of call, they often offer a very lowball amount of money - only a tiny fraction of the overall value. Therefore, I highly recommend you contact the Alberta Energy Ministry to see if you can track down the properties covered by those royalty interests and see if there is any current production and if you may be entitled to either back or current royalties. You may also have to hire a land use attorney to track them down for you, but the fact that someone already did that on their own out of the blue and contacted you means there is likely value - perhaps significant - in those certificates. And they are trying to buy them from you before you recognize it.