Old Oil Stocks – in progress “O”
Welcome to research of Old Oil Stocks – in progress “O” – all free but do not find lost riches – see Not a Millionaire from Old Oil Stock. The American Oil & Gas Historical Society, which depends on your donations, does not have resources to provide research of corporate histories.
However, AOGHS continues to look into forum queries as part of its energy education mission. Some investigations have revealed little-known stories like Buffalo Bill’s Shoshone Oil Company; many others have found questionable dealings during booms and epidemics of “black gold” fever like Arctic Explorer turns Oil Promoter.
Visit the Stock Certificate Q & A Forum and view company updates regularly added to the A-to-Z listing at Is my Old Oil Stock worth Anything? AOGHS will continue to look into forum queries, including these “in progress.”
Occident Oil Company
There have been several Occident Oil companies, beginning as early as 1899. More than 50 years later, a stockholder sought information about the company from a California newspaper, the Long Beach Independent.
“When my mother died in 1942, she left me 60,000 Shares of stock for the Occident Oil Co. in Denver. The shares were bought in 1929 and 1930. Could ACTION LINE find out if this company is still active, or if it has perhaps merged with a larger company?”
No details have survived about this supposedly Denver-based Occident Oil of its fate. The office of the Colorado Secretary of State in Denver, where all corporations of that state are registered, has no record of Occident Oil Co. All publicly held corporations issuing stock must apply annually for a corporation license, and comply with all license requirements, including the issuance of an annual financial report. There are no financial reports from Occident Oil.
October Oil Company
October Oil Company began life in Colorado in 1975 as International Technical Instruments Inc. with authorized issue of 3 million shares of stock. The company was formed to “produce, manufacture, develop, sell, lease, exchange or otherwise deal with, or dispose of, communications systems.”
In 1979 International Technical Instruments changed its name to October Oil Company and amended its articles of incorporation to include “the business of exploration and development of oil and gas” and “to manufacture, acquire, own, use, maintain and operate drilling rigs, derricks, drills, bits, casing pipe, explosives.”
Kansas records show October Oil was briefly the operator of four oil wells in Wilson County, all plugged and abandoned by April 1982. In October the company and Walton Oil Company merged into a newly formed Colorado entity, the Jeremiah Corporation. October Oil’s president became president of Jeremiah Corp. The same amended articles of incorporation specified that Jeremiah Corp. change its name to October Oil Company, “the corporation surviving the merger.”
The other merged companies are identified as “constituent corporations” whose certificates were to be exchanged for new October Oil Company certificates in varying ratios prior to the execution of an eight-for-one reverse stock split. This restructuring having been effected, October Oil nonetheless became inactive and delinquent in its Colorado taxes. Kansas records have no further oilfield activity for the company.
In 2006, with October Oil Company having neither transfer agent nor activity for a period of six years, the Depository Trust & Clearing Corporation (DTCC) destroyed the company’s vaulted certificates.
DTCC notes in “Saying Goodbye to Worthless Certificates” that more than a million non-transferable stock certificates have been shredded since 2004. October Oil Company stock certificates have only collectible value, but the company name survived for years in Over the Counter Markets, traded as OCOC. (more…)
