Rear Brake Drum Questions

[MN Rooky]

I have tried to do my homework but have come up with nothing. I have a 1971 3/4 ton and I am trying to check the back brakes. I apply the brake and nothing happens to the back brakes. No parking brake either. When I took the tires off I wasn't sure on how to take apart this type of drum. I looked it up in my books and search the thread history's. I came up with nothing to help me know what I will get myself into.

I started to take the 8 hex bolts off and it looked like gear oil coming out of the holes. Do I need to take off that end and then the wheel stud portion come off. Then I can get to the drum? Is the a seal of some type between the drum and the wheel studs that I will need to replace when I rip it apart. Or is it easier then I imagine.
Thanks for helping me out with all my beginner questions.