if the stock is oil soaked- its going to deteriorate if its not de-oiled so i do not see refinishing as a negative
assuming its salvageable- check to see if the wood has gone soft - get the oil out and see what you have and if the crack can be repaired-
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"If there is a heaven it must have thinning aspen gold, and flighting woodcock, and a bird dog" GBE
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