Rod, my impression is that you should not have to do anything and the new dividend shares will appear in your account, similar to what happened with the reverse split. For the reverse split, your pre-split shares disappeared, you got a reference number in your account, and then your new post-split shares appeared.
So in 6 to 12 months you should see the reference number dividend shares currently in your account change to actual shares once your broker gets the shares from the dealer for FNRC.
The current ratio is 5 new dividend shares for each reference number dividend share you currently have in your account. This is because you initially got 1 reference number dividend share for each original 100,000 shares you owned. Then take that number and multiply it by 100,000 for the conversion, but divide it by 20,000 for the reverse split. Pretty complicated, but you should get 5 new shares for every 1 reference number share that currently shows in your account. The reference number shares are not tradeable and show no value.
I may sell my current actual shares at $5, if we actually start drilling and if the share price spikes, and keep the dividend shares for a longer term investment. I tripled my current shares since the reverse split. Just couldn't resist buying more shares for under $1 that I expect to sell for $5 in a few months. I would give the current shares $10 if we actually strike oil, but $5 is a safer selling point for me.
I guess you saw the press release from yesterday. There was a press release in addition to the quarterly report yesterday, both of which talked about drilling being imminent.
Again, the above is mostly my opinion and don't take it to the bank.
Good luck,
Cropduster
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