Canadian Stocks/Old oil company shares
My father was going through some of my great aunts papers she left him and was wondering about some oil company shares he has here. They look to be from the late 20s, early 30s.
The companies are:
Wellington Oil & Gas Co
East Crest Oil Company limited
Regent Oil Company
And finally Madison Oils Ltd. which is the only one I seem to be able to find anything on. The rest I think went away.
Madison merged with Knee Hill I think and then was bought by Inuvialuit Petroleum Corporation. That's as far as I got.
Are these worth anything besides the neat old things they are?
Tony, from the information I have available:
Wellington went through several name changes and reverse splits and became Inouye Technologies, which was cease-traded in 2003. Those cease-trade orders remain in effect. No current value.
East Crest had one reverse split (1 for 10) and one acquisition (15.06 for 100) and became Pan Ocean Oil, which was acquired by Marathon Energy in 1976 for US$18 cash per share.
Regent was acquired by Mid-Continent Oil, which was wound up and dissolved in the 1930's.
Madison had a 1 for 10 reverse split, merged with Knee Hill, and was acquired by Inuvialuit in 1989 for $0.47 cash per share.
For the acquisitions, the registered holder would have been sent a check at that time. If the holder's address was unknown, it would have been turned over to the government for safekeeping. Although the money was sent a long time ago, you should check to see if it is still available. You can search many States and Provinces online for free at www.missingmoney.com. Search using the name exactly as it appears on the certificate.