About Us Directors

Ryan Shay

Ryan Shay is Vice President Finance and Chief Financial Officer of Rubellite Energy and Perpetual Energy, and has more than 30 years of experience in the oil and gas industry. He joined the board of Perpetual in October 2017 and became the Vice President Finance and Chief Financial Officer of Perpetual in May 2021. Prior to, Ryan was Managing Director, Head of Investment Banking at Cormark Securities Inc. until he retired therefrom in June 2016. He was a member of Cormark’s Executive Committee, Risk Committee, Capital Markets Committee, Compensation Committee, Compliance Committee and Audit Committee. 

Ryan began his career at Deloitte & Touche in 1993, earning his Chartered Accountant designation in 1996, then joined Peters & Co. in 1996, earning his Chartered Financial Analyst designation in 1999.  He joined Cormark in 1999 as an Energy Research Analyst and was promoted to the Executive Committee of the firm in 2000. Ryan transitioned careers from Research to Investment Banking in 2007 and was promoted to Co-Head of Investment Banking in 2010 and Head of Investment Banking in 2013. He received his Bachelor of Commerce from the University of Saskatchewan and graduated with Great Distinction. Ryan was formerly on the board of Crew Energy Inc., Journey Energy Inc., and the National Board of the Juvenile Diabetes Research Foundation. 

Holly Benson

Holly Benson was the Vice President, Finance and Chief Financial Officer for Peters & Co. Limited, having joined the firm in 1995. She was also a member of its Board of Directors and served as its Corporate Secretary. In her former role, she maintained oversight of the financial reporting and tax, securities settlements and cage functions, regulatory compliance, and human resources. Holly was also Vice President, Finance & Chief Financial Officer, Corporate Secretary and a member of the Board of Directors of the firm’s wholly-owned subsidiary, Peters & Co. Equities Inc., a broker-dealer registered with the Financial Industry Regulatory Authority and the United States Securities and Exchange Commission. Holly was involved in various industry committees, working groups and councils over the years, including serving on the Board of Directors of the Investment Industry Regulatory Organization of Canada (IIROC) from 2015 to 2021. Holly has been a proud supporter of many charitable organizations, in particular the Alberta Children’s Hospital Foundation and the United Way of Calgary and Area.

Holly graduated from the University of Calgary with a Bachelor of Commerce degree, and went on to complete her Chartered Accountants designation with Ernst & Young. During her time with Ernst & Young, Holly worked in the Corporate Audit group, specializing in the audits and reviews of oil & gas companies. Holly holds an Institute of Corporate Directors (ICD.D) designation.

Holly also serves on the Board of Directors and Audit Committee of Calfrac Well Services Ltd.

Tamara MacDonald

Tamara MacDonald was most recently the Senior Vice President, Corporate and Business Development of Crescent Point Energy Corp., a position she held from October 2004 to July 2018. Tamara has been involved in over 530 transactions totaling over $14.5 billion. Tamara has over 28 years of industry experience. Prior to Crescent Point, Tamara worked with NCE Petrofund Corp., Merit Energy Ltd., Tarragon Oil & Gas Ltd. and Northstar Energy Corp.

Tamara holds a Bachelor of Commerce degree with a major in Petroleum Land Management from the University of Calgary and an Institute of Corporate Directors (ICD.D) designation. She currently sits on the board of directors of Spartan Delta Corp. and Southern Energy Corp. Tamara has held various senior executive positions and has served as a director of several publicly traded and private companies which has required regular review and understanding of company financial statements.

Tamara has been involved in numerous community initiatives as a senior executive leader where she provided guidance and feedback to charities in the areas of health, safety and environment (HSE), education and sports. She is a member of the Canadian Association of Petroleum Landmen, and the institute of Corporate Directors. She also served on the Chair Committee Advisory of the YWCA WhyWhisper Gala, the Patron’s Council for the Calgary UNICEF Water for Life Gala, and is a member of the 25th UNICEF Canada Team, a unique opportunity for dynamic female leaders from across Canada to support maternal and child care globally.

Bruce Shultz

Bruce Shultz was most recently President and Chief Executive Officer of Huron Resources Corp., a private junior oil and gas exploration company with drilling success in a newly defined Wabamun oil play in Southern Alberta. Previously he was the President and Chief Executive Officer of Huron Energy Corporation which experienced success in the Montney of NEBC and prior to that, Rubicon Energy Corp. made a significant Nisku oil discovery in the Pembina Area of Alberta. He is a graduate of the University of Waterloo with a Bachelor of Science Degree in Earth Sciences with over 40 years of oil and gas exploration experience beginning his career with Gulf Canada in 1980. Bruce’s multiple senior executive positions has required regular review of financial statements and he has served as a member of the audit committee for a number of private and not-for-profit companies.

Bruce has been involved with several not-for-profit Boards. He served on the Board of Governors for the Glenbow Museum (2009 to 2016), Honens International Piano Competition Board of Directors (2016 to 2019) and he recently stepped down from the Board of Directors at the Association for the Rehabilitation of the Brain Injured (ARBI).

Steven L. Spence

Mr. Spence was formerly the President and CEO of Osum Oil Sands Corp from 2010 to 2021. Prior to that he was an executive at Osum from 2008. Prior to that he held technical and managerial roles of increasing seniority at Shell, in both Canada and Australia. In addition, Mr. Spence has served on the Board of Governors of the Canadian Association of Petroleum Producers, on the Board of the Insitu Oil Sands Alliance, and on the Board of the Canadian Energy Research Institute. Mr. Spence is a member of APEGA as a Professional Engineer and holds an ICD.D designation from the Institute of Corporate Directors.

Linda A. Dietsche

Ms. Dietsche was the Chief Financial Officer of Tervita Corporation from 2019 to 2021. Prior to that, she was the Executive Vice President and CFO with Newalta Corporation from 2017 to 2019. She joined Newalta as Assistant Controller in 2003 and held progressively responsible roles, becoming Vice President, Finance in 2012. Ms. Dietsche has extensive finance experience, including leadership in the areas of debt holder and banking relations, credit facility renewals and debenture financings. Prior to Newalta, she held senior accounting roles with Mount Royal University and Ogilvy and Mather. She is a Chartered Professional Accountant (CPA, CMA) and has a Masters in Business Administration from Royal Roads University. Ms. Dietsche holds an ICD.D designation from the Institute of Corporate Directors.

Geoffrey C. Merritt

Mr. Merritt has over 35 years of experience in the upstream oil and gas sector. He was the founder of Masters Energy Inc., a public exploration and production company, incorporated in 2003. From 1998 to 2003, Mr. Merritt was the President and CEO of Sunfire Energy. Prior to 1998, he was the Vice President and General Manager of the oil and gas division of Pembina Corporation. Mr. Merritt received a B.Sc. in Chemical Engineering from the University of Alberta in 1978 and is a graduate of the Harvard Business School.