About Bonterra
Bonterra Energy
Bonterra’s operations are focused primarily in the Pembina Cardium field in Alberta, Canada. Our high-quality asset base is comprised of concentrated, stable and predictable Cardium production, with large amounts of remaining oil in place, a long reserve life and low-risk drilling locations. The Company also has two emerging and exciting light oil core areas: the Charlie Lake and the Montney, both of which offer high impact growth potential, superior economics and the opportunity to generate free funds flow.
We are focused on propelling the organization to the next level and aim to position Bonterra as a top quartile performer in the junior oil and gas sector. Our strategy of long-term, sustainable growth prioritizes efficient operations, free funds flow generation and responsible debt management designed to support a return of capital framework for shareholders.
Offering a grounded path forward for Canadian energy
01
Sustainability
Bonterra’s operations are characterized by a long reserve life index (“RLI”) and low-risk, predictable returns.
We focus on sustainable and responsible development with disciplined capital investment and efficient operating practices.
02
Growth
Our track record of production and reserves growth demonstrates our commitment to shareholder value creation.
Free funds flow can be used to pursue further development opportunities, reduce debt, or return capital to shareholders.
03
Resilience
With a low production decline rate, Bonterra’s modest sustaining capital requirements contribute to financial flexibility.
Our disciplined risk management program affords stability amid commodity price volatility and supports balance sheet strength.
Balance Sheet Strength
Our disciplined approach to capital allocation has resulted in significant debt repayment and an improved balance sheet.
Free Funds Flow Focus
Bonterra’s free funds flow generation supports organic growth, debt repayment, shareholder returns and strategic M&A.
Management
Bonterra’s leadership team brings a longstanding and proven history of creating shareholder value, consistently delivering a disciplined and sustainable growth plan.
Patrick Oliver, C.A.
President, Chief Executive Officer and Director
President, Chief Executive Officer and Director of Bonterra since September of 2022. Mr. Oliver has over 35 years of E&P experience in various executive roles in both the public and private sector, the majority of his roles over the past 20 years having been as CEO. He has a proven track record in the leadership of several companies from start-up to sale and was instrumental in the building and successful sale of four privately owned Birchill companies with operations in central Alberta. Currently, he is a Director of Enercapita Energy Ltd., a private oil and gas company.
Scott Johnston, P.Eng
Chief Financial Officer
Mr. Johnston joined Bonterra in September 2024 as Chief Financial Officer, bringing over 18 years of finance, capital markets and engineering experience. He most recently served as a partner at a highly regarded, Calgary-based independent energy focused investment bank as Principal, Corporate Finance, and prior thereto, held roles of increasing seniority in the A&D advisory arm of a bank-owned investment dealer. Before transitioning to the capital markets, Mr. Johnston started his career in the E&P industry as an engineer working on reservoir, production and completions within several leading energy companies.
Brad Curtis, B. Comm., B.Sc., P.Geo.
Senior Vice President, Business Development
Mr. Curtis joined Bonterra Energy in 2005 and is currently Senior Vice President, Business Development. Mr. Curtis is responsible for strategic planning, identification and execution of acquisitions, as well as corporate geophysical and geological activities. He holds a Bachelor of Commerce degree from the University of Alberta and a Bachelor of Science in Geology from the University of Calgary. Mr. Curtis is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta.
Dave Fleming
Vice President, Marketing
Mr. Fleming joined Bonterra in 2014 as Vice President of Marketing. He has over 25 years of energy marketing and commodity risk experience spanning natural gas, oil, NGLs, pipeline transportation and downstream market development. Prior to joining Bonterra, Mr. Fleming held the position of Director, Marketing and Business Development for EOG resources Canada.
Steve Ewens, MEng, P.Eng
Vice President, Engineering
Mr. Ewens joined Bonterra Energy in 2014. He has over 20 years of petroleum engineering experience and holds a Master of Engineering degree from the University of Calgary. Mr. Ewens is responsible for executing the company’s development plans and ensuring safe and efficient operations. He is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta.
Joe Swift
Vice President, Land
Mr. Swift joined Bonterra in 2012, bringing 20+ years of industry experience in Land, Business Strategy, A&D, Negotiations, Midstream & Commercial Solutions. Prior to Bonterra, he held varying positions of increasing responsibility at Petro-Canada, Devon Energy, Kereco Energy, NuVista Energy, and Pine Cliff Energy. Mr. Swift holds his Bachelor of Commerce from the Haskayne School of Business from the University of Calgary. He is an active member of the Canadian Association of Land & Energy Professionals (CALEP) and Professional Acquisition & Divestment Association (PADA).
Brad Hetlinger, CPA, CA
VP Finance and Corporate Controller
Mr. Hetlinger joined Bonterra in 2006, bringing over 18 years of experience in financial reporting, regulatory compliance, strategic planning, and a deep knowledge of Bonterra’s operations and the oil and gas industry. He holds a Bachelor of Commerce degree from the University of Alberta. Mr. Hetlinger is a member of the Chartered Professional Accountants of Alberta.
Board of Directors
All directors of Bonterra Energy Corp. are nominated by the shareholders at each annual meeting. All directors serve until the next annual meeting or until a successor is elected or appointed.
1 Audit Committee Member
2 Reserves Committee Member
3 Human Resources and Compensation Committee Member
4 Governance and Nominating Committee Member
D. Michael G. Stewart1,2,3,4
Director and Chair of the Board
Director and Chair of the Board of Bonterra since March of 2021. With a B.Sc., P.Eng. (non-practicing), with almost 50 years of experience in the Canadian energy industry and an extensive track record serving as a senior executive and on boards of directors and audit committees.
Patrick G. Oliver, C.A.2
President, Chief Executive Officer and Director
Chief Executive Officer and Director of the Corporation since September 2022. With a B.Com., and CPA (CA), Mr. Oliver has over 35 years of E&P experience in various executive roles in both the public and private sector. Over the past 20 years, the majority as CEO, Mr. Oliver was instrumental in the building and successful sale of four privately owned Birchill companies with operations in central Alberta. Mr Oliver is also a Director of Enercapita Energy Ltd., a private oil and gas company.
John J. (Jay) Campbell1,3,4
Independent Director
An independent director and consultant that has over 25 years of experience in private equity, energy services, banking and trust company services. Mr. Campbell also currently serves as Chair of Morcado Trust Company and Audit Committee Chair of Haw Capital 2 Corp. Mr. Campbell is also the former President and Co-Founder of Odyssey Trust Company. Holder of the Institute of Corporate Directors’ Director designation (“ICD.D”).
Jacqueline R. Ricci1,3,4
Independent Director
Ms. Ricci is Vice President and Partner at J Zechner Associates, managing discretionary funds focused on small/mid-cap equities including and oil and gas. She has held senior investment analyst roles at Ontario Teachers’ Pension Plan Board and Gluskin Sheff & Associates. She serves on the boards of Wesdome Gold Mines Ltd. and Pine Cliff Energy Ltd., chairing the latter’s Governance, Nominations, and Compensation Committee. A recipient of multiple TopGun Investment Mind Awards, she holds an HBA from the University of Western Ontario and is a holder of a CFA designation.
Stacey E. McDonald1,2,4
Independent Director
An independent director with more than 15 years of experience in the energy and financial sectors. From September 2016 to July 2018, Ms. McDonald was a Managing Director – Institutional Equity Research (Energy) at GMP FirstEnergy and its predecessor, GMP Securities, independent global investment banks. Holder of the Institute of Corporate Directors’ Director designation (“ICD.D”). Ms. McDonald is also a director of Birchcliff Energy Ltd.
David M. Humphreys2,3,4
Independent Director
An independent director with more than 40 years of experience in the Canadian energy industry. Mr. Humphreys is a member of the Board of Governors of the Explorers and Producers Association of Canada (“EPAC”) and was its Chair in 2020. He is also the former Executive Vice President, Operations at Birchcliff Energy Ltd. Mr. Humphreys holds a designation with the Institute of Corporate Directors (“ICD.D”) and the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”).
George Fink
Director Emeritus
Mr. Fink is the Company’s founder, former CEO, and current Director Emeritus. He holds a Bachelor of Commerce degree and a Chartered Accountant designation.
Advisors & Partners
Legal Counsel
Borden Ladner Gervais LLP
Centennial Place, East Tower
520 3rd Avenue SW, Suite 1900
Calgary, AB T2P 0R3
Transfer Agent
Odyssey Trust
Stock Exchange Tower
1230-300 5th Avenue SW
Calgary, AB T2P 3C4
Auditors
Deloitte LLP
850-2nd Street SW, Suite 859
Calgary, AB T2P 0R8
Independent Reserve Evaluators
Sproule
140 – 4th Avenue SW, Suite 900
Calgary, AB T2P 3N3
