Canada Hibernia Holding Corporation

Historically Reliable & Robust Asset Management

Background

Canada Hibernia Holding Corporation (CHHC) was incorporated in March 1993 and is a wholly owned subsidiary of CDEV. CHHC manages and holds the Government of Canada’s interests in the Hibernia Project, which is an oil development and production project located offshore Newfoundland and Labrador. The Hibernia Project comprises the original Hibernia Development Project area, where CHHC has an 8.5% working interest, and the Hibernia Southern Extension Unit (“HSE Unit”), where CHHC has a 5.67% working interest. Construction of the field facilities was completed in 1997 and first oil from the original Hibernia field occurred in November 1997.

The Corporation is managed by its independent Board of Directors which through its parent company, CDEV, reports to Parliament through the Minister of Finance.

Responsibilities

Located in Calgary, CHHC plays an active role as an owner in the Hibernia Project. CHHC’s responsibilities are to maximize shareholder value through the exploration, development, production and marketing of crude oil from the Hibernia Project.

CHHC’s long term goals are as follows:

  • To manage Canada’s ownership in the Hibernia Project. In doing so, CHHC is committed to ensuring that the health and safety of workers and protection of the environment are paramount in all Hibernia decisions; operating in legal and regulatory compliance; protecting Canada’s ownership interests and maximizing value from the assets; and making decisions in a commercially prudent manner.
  • To keep the Hibernia asset in a ready state for evaluation and sale should Canada elect to divest of the asset.

CHHC achieves these goals through fulfilling its role as a non-operating working interest owner of the Hibernia Project and its role in managing the marketing and transportation of its share of Hibernia crude oil. CHHC participates regularly in the Hibernia Executive Committee, which is responsible for the management of the project, technical, legal, health, safety, environmental and financial committees that collectively oversee the ongoing business planning and operations of the Hibernia Project. CHHC manages the transportation and marketing of its crude oil through contractual relationships with other owners and service providers to the producing fields offshore Newfoundland and Labrador.

CHHC derives its cash flow solely from the Hibernia assets which include its share of Hibernia crude oil production and a small portion from incidental revenue from the Hibernia drilling and production facilities. Cash flow fluctuates primarily depending on Hibernia production volumes, the price of crude oil, royalty and NPI payments, operating costs, income taxes and major capital expenditures.

Since inception, CHHC has been staffed by a highly skilled group of professionals with extensive industry experience.

Visit Hibernia Site

*Please be advised that the following link is to a website that is only available in English

Executive Leadership Team

Anita Tonn

President and Chief Financial Officer

Gerry Goobie

Vice President, Marketing and Transportation

John Gerlach

Vice President, Operations

CHHC Board of Directors

Dwight Ball

Chair of the Board

Anita Tonn

President and Chief Financial Officer

Alicia Damley

Chair of the Audit Committee

Jennifer Reynolds

Chair of the Human Resources and Compensation Committee

Sean Strickland

Anita Tonn Calgary, Alberta

CPA

President and Chief Financial Officer

Calgary, Alberta

Anita joined CHHC in 2013 and was appointed to the role of President and CFO in 2023. In this role, Ms. Tonn leads the Calgary team responsible for managing Canada’s investment in the Hibernia Project.

Ms. Tonn has over 20 years of experience in the oil and gas industry managing finance, accounting, treasury, tax and mergers and acquisitions. Previously to CHHC, Ms. Tonn held numerous positions with junior and intermediate oil and gas companies including VP Finance and CFO of Emerge Oil & Gas Inc., Financial Controller of Petrobank Energy and Resources Ltd., Controller of Peerless Energy Inc., and Controller of Outlook Energy Corp. Ms. Tonn commenced her career in the audit practice of KPMG LLP, a large public accounting firm.

Ms. Tonn holds a Bachelor of Commerce degree with Great Distinction from the University of Saskatchewan. She is a Chartered Accountant with the Chartered Professional Accountants of Alberta.

Gerry Goobie Calgary, Alberta

MSc, MBA

Vice President, Marketing and Transportation

Calgary, Alberta

Gerry joined CHHC in 2018 to oversee the disposition of CHHC’s crude oil production.

Mr. Goobie is a 40+ year veteran in the petroleum industry specializing in the crude oil, natural gas, and natural gas liquids businesses.  Mr. Goobie’s experience includes commercial operations, project management, strategic
planning, acquisitions and divestments and regulatory matters as well as process design and reservoir engineering.

Prior to joining CHHC, Mr. Goobie was a Principal at Goobie Tulk Inc. and Gas Processing Management Inc. (GPMi) and prior to GPMi, he was a Managing
Consultant in the Calgary office of Purvin & Gertz Inc. Both GPMi and Purvin Gertz were internationally renowned, independent energy industry consultancies.  Prior to joining Purvin & Gertz, Mr. Goobie worked in various commercial and operational roles with ATCO Midstream Ltd., TransCanada Pipelines Ltd., Murphy Oil, Alberta Natural Gas Ltd, Esso Resources Canada, Texaco Canada Resources and Brown Root Inc.

Mr. Goobie holds a Bachelor of Science in Chemistry, a Master of Science in Chemical Engineering, a Master of Business Administration and is a Life Member of the Association of Professional Engineers and Geoscientists of Alberta.

John Gerlach Calgary, Alberta

Vice President, Operations

Calgary, Alberta

John Gerlach joined CHHC in 2018 and is responsible for representing CHHC at Hibernia’s Technical and Management committees.

Mr. Gerlach has over 35 years of oil and gas industry experience focusing on asset management, business development and reservoir engineering. Prior to joining CHHC, Mr. Gerlach held multiple leadership and technical positions at Murphy Oil, ConocoPhillips, Rigel Energy, Morgan Hydrocarbons and Mobil Oil.

Mr. Gerlach holds a Bachelor of Science in Mechanical Engineering with distinction from the University of Manitoba and is a Member of the Association of Professional Engineers and Geoscientists of Alberta.

Dwight Ball Deer Lake, Newfoundland and Labrador

Independent Director

Deer Lake, Newfoundland and Labrador

From 2015 to 2020, Mr. Ball was Premier of Newfoundland and Labrador, where he led the provincial government through a major reshaping of its economic and social programs. Prior to becoming Premier he was the leader of the Official Opposition from 2012 to 2015. In addition to his role as the Province of Newfoundland and Labrador’s chief executive, Mr. Ball also held direct responsibility for Indigenous, Intergovernmental and Labrador Affairs.

During his time as Premier, in consultation with Indigenous, industry and community stakeholders, Dwight led the Government of Newfoundland and Labrador through a major reshaping of its economic and social programs.

Drawing from his wealth of leadership experience, Mr. Ball has represented his Province at many international and national meetings, often assuming the role of chair or co-chair on many significant initiatives. As a business leader, Dwight has vast experience in team building, conflict mediation, budget preparation and management, media relations, and conflict resolution. He has successfully negotiated numerous business, trade and union agreements.

Mr. Ball is a graduate of Newfoundland and Labrador’s School of Pharmacy, and a former President of the Canadian Pharmacists Association. He has more than 30 years of business ownership experience in healthcare, real estate development, venture capital and seniors housing developments. He continues to serve on a number of industry and community boards where he provides a senior executive level perspective on the challenges associated with succeeding in today’s environment. He understands the importance of leadership while helping clients navigate complex multidimensional issues.

Dwight has been recognized by many professional and community groups for his involvement with Supportive Employment of Individuals with Disabilities, Employer of the Year, Pharmacist of the Year and a range of business and community awards.

Anita Tonn Calgary, Alberta

CPA

President and Chief Financial Officer

Calgary, Alberta

Anita joined CHHC in 2013 and was appointed to the role of President and CFO in 2023. In this role, Ms. Tonn leads the Calgary team responsible for managing Canada’s investment in the Hibernia Project.

Ms. Tonn has over 20 years of experience in the oil and gas industry managing finance, accounting, treasury, tax and mergers and acquisitions. Previously to CHHC, Ms. Tonn held numerous positions with junior and intermediate oil and gas companies including VP Finance and CFO of Emerge Oil & Gas Inc., Financial Controller of Petrobank Energy and Resources Ltd., Controller of Peerless Energy Inc., and Controller of Outlook Energy Corp. Ms. Tonn commenced her career in the audit practice of KPMG LLP, a large public accounting firm.

Ms. Tonn holds a Bachelor of Commerce degree with Great Distinction from the University of Saskatchewan. She is a Chartered Accountant with the Chartered Professional Accountants of Alberta.

Alicia Damley Mississauga, Ontario

CFA, CPA, CA

Independent Director

Mississauga, Ontario

Ms. Alicia Damley has over 25 years of professional experience which includes defining board governance, corporate oversight and renewal, leading and implementing risk and assurance best practices, and generating investment returns.

Ms. Damley began her career as a public accountant at Deloitte, with responsibility for audit and risk assurance services. Over this tenure, she provided a broad range of advisory and forensic services, functional risk assessments, financial reporting and accounting standards reviews, and fraud investigations and resolution.

Ms. Damley’s subsequent investment career in global markets has focused on generating investment outperformance aligned with client risk and returns. To date, this time has been punctuated with successfully navigating numerous global market crises and required blending unrelated areas of competence.

Ms. Damley’s board experience includes civil society, non-governmental and arts organizations, and executive and committee chair leadership. She has combined her areas of expertise to advise on investment, strategy, and organizational architecture for fintech and mobile technology startups. She is also an active volunteer with a focus on women, financial literacy, and education.

Ms. Damley is a Chartered Financial Analyst Charterholder, as well as Chartered Professional Accountant (Canada) and Chartered Accountant. She holds an Honours Bachelor of Science and a Master of Business Administration from the Rotman School, both from the University of Toronto.

Jennifer Reynolds Toronto, Ontario

MBA, ICD.D

Chief Executive Officer
Women Corporate Directors Foundation

Toronto, Ontario

Ms. Reynolds is a CEO of Women Corporate Directors Foundation – the world’s largest network of women corporate board directors, with more than 2500 members serving on more than 8,500 public and private boards around the globe.

Ms. Reynolds’ 25-year career in the financial services industry has included senior roles in investment banking, venture capital, and global risk management. Prior to joining WCD, Jennifer served as the President & CEO of Toronto Finance International (TFI), a public-private partnership which promotes and develops Canada’s financial services sector and serves as the international representative for the Toronto financial centre. Prior to joining TFI, Jennifer was the President & CEO of Women in Capital Markets (WCM), Canada’s largest industry association and advocacy group for women in the financial sector.

Ms. Reynolds is a Director on the Board of BF&M Insurance Group Ltd, the Board of Agrinam Acquisition Corporation, and the Board of Women’s College Hospital Foundation. Jennifer is the Co-Chair of the UN convened Financial Centres for Sustainability (FC4S) network and also serves on the Advisory Council for the Institute of Sustainable Finance. In 2015 and 2017, she was named a Women's Executive Network (WXN) Canada's Most Powerful Women: Top 100 Award Winner.

Jennifer is a graduate of the Harvard Business School Women's Leadership program, and she received her MBA from McGill University, as well as a Bachelor of Arts with a double major in Economics and Political Science from McGill University. Jennifer also holds the Institute of Corporate Directors Designation, ICD.D.

Sean W. Strickland Waterloo, Ontario

Executive Director
Canada’s Building Trades Unions

Waterloo, Ontario

As Executive Director of Canada’s Building Trades Unions, an association of 14 international unions representing over 600,000 members, Mr. Strickland is responsible for overseeing the operations of the CBTU office, programs and identifying and coordinating opportunities for affiliates and local and provincial councils across Canada; including working with owner clients and employers.

Sean currently represents the CBTU in a number of capacities including sitting on the board for BuildForce, SkillPlan, Multi-Employer Benefit Council of Canada, and Helmets to Hardhats. Additionally, Mr. Strickland participates in several advisory activities including NRCan’s Small Modular Reactor Action Plan and the Federal Government’s Construction Industry Roundtable.

Sean has a Bachelor of Arts in Political Science from the University of Waterloo, is a graduate of the Executive Management Program at Wilfrid Laurier University, and the Leadership Development program from Harvard University. He is the proud recipient of the Canada 125 Medal for Community Service and has served on numerous community boards and committees.