BNET Industries

Market Cap:$1.6B
Last Fiscal Year Sales:$4.1B
  • Public
  • CA
Dow Jones Description

Oil & Natural Gas Royalty Trust

Number of Employees 323
Contact Information

2100 330 5th Avenue Southwest

Calgary, Alberta T2P 0L4

www.harvestener...

(403) 265-1178

NAICS Code Crude Petroleum and Natural Gas Extraction: 211111

Recent Events

  • KNOC to Make $3.95B Bid for Canadian Oil Firm

    10/22/09 - Merger / Acquisition - View Story

  • UBS & Citi Upgrade Harvest Energy Trust HTE to Buy

    10/22/09 - Bond / Stock Rating - View Story

  • SKorean state oil company buying Canada's Harvest Energy in $3.95 billion deal

    10/22/09 - Joint Venture / Alliance - View Story

  • UPDATE 2-Conoco mulls sale of Syncrude stake, not Lukoil

    10/28/09 - Merger / Acquisition - View Story

  • Deans Knight Income Corporation Announces Third Quarter 2009 Operating Update- Unaudited

    11/03/09 - Joint Venture / Alliance - View Story

  • Vitol and Harvest Energy Announce Improved Terms for Crude Oil Supply and Refined Product Offtake...

    10/16/09 - Joint Venture / Alliance - View Story

  • Harvest acquires Pegasus Oil & Gas Inc.

    8/13/09 - Merger / Acquisition - View Story

News & Analysis

harvest energy trust - All News and Analysis

Decision Makers

Name (plus bio) Position
John Zachary CEO
John Zahary President & CEO
Bob Morgan COO & Vice President, Engineering
Robert Fotheringham CFO & Vice President, Finance
Al Ralston Vice President, Operations
J.A. Ralston Vice President
James A. Campbell Vice President
Cindy Gray Manager, Investor Relations
Lance W.S. Hogarth Manager
David J. Rain Secretary
Steven Saunders Treasurer
Verne G Johnson Director

Board of Directors

Name (plus bio) Position
M. Bruce Chernoff Chairman
Bruce Chernoff Board of Directors
Dale Blue Board of Directors
David J. Boone Board of Directors
Hank B. Swartout Board of Directors
Hector J. McFadyen Board of Directors
John A. Brussa Board of Directors
Kevin A. Bennett Board of Directors
William Friley Board of Directors

Organization Position Status
Harvest Energy Trust CEO Current

John Zahary, a Professional Engineer with extensive senior management experience in the oil and natural gas industry, is Harvest's President & Chief Executive Officer. Prior to the merger of Harvest and Viking Energy Royalty Trust in February 2006, Mr. Zahary had been President & CEO of Viking since April 2004. Prior thereto, he was President of Petrovera Resources, a 46,000 boe/d oil and natural gas producer with assets in Saskatchewan and Alberta. Previously, Mr. Zahary held senior positions at PanCanadian Petroleum Limited, Canadian Oil Sands Trust, Gulf Canada Resources Ltd., Imperial Oil Limited and Texaco Canada Resources. Mr. Zahary is the Chairman of the Petroleum Technology Research Centre, Governor of the Canadian Association of Petroleum Producers, Past President of the Alberta Chamber of Resources, and Chairman of the Alberta Rhodes Scholarship Selection Committee. Mr. Zahary holds a B.Sc. in Mechanical Engineering from the University of Calgary and a M.Phil. in Management from the University of Oxford.

Organization Position Status
Harvest Energy Trust President & CEO Current

Organization Position Status
Harvest Energy Trust COO & Vice President, Engineering Current
Harvest Energy Trust Vice President, Engineering Current

Robert (Bob) Fotheringham is Harvest's Chief Financial Officer and brings to the organization more than 20 years of progressive experience in the energy industry and public accounting. Mr. Fotheringham was previously the Vice President Finance and Chief Financial Officer for Viking Energy Royalty Trust until its merger with Harvest in early 2006. Prior thereto, he was Chief Financial Officer of Inter Pipeline Fund, and had previously held senior executive positions with True North Energy Corporation, Canadian Oil Sands Investments Inc., Superior Propane Inc. and Norcen Energy Resources Limited. Mr. Fotheringham is a Chartered Accountant and holds an Honours Degree in Business Administration from the University of Western Ontario.

Organization Position Status
Harvest Energy Trust CFO & Vice President, Finance Current

Organization Position Status
Harvest Energy Trust Vice President, Operations Current

Organization Position Status
Harvest Energy Trust Vice President Current

Organization Position Status
Harvest Energy Trust Vice President Current

Organization Position Status
Harvest Energy Trust Manager, Investor Relations Current

Mr. Hogarth is currently the Manager of Business Development at Harvest Energy Trust. Mr. Hogarth has a proven track record and extensive skills in the areas of reservoir engineering, reserves management, production development, economic evaluations, financial risk management and software development. He has held various positions involving software development with Merak Canada and a large oil and gas producer in positions of increasing responsibility including Vice President, Risk Management and Vice President, Producer Services. Mr. Hogarth has a Bachelor of Science in Civil Engineering from the University of Alberta (1977) and is a registered Professional Engineer in the Province of Alberta.

Organization Position Status
Harvest Energy Trust Manager Current
Cheyenne Energy, Inc. Board of Directors Current
University of Alberta Bachelor of Science In Civil Engineering Former

Mr. Rain is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Saskatchewan. Mr. Rain articled at KPMG LLP Chartered Accountants and was a Manager in their audit group until he departed in 1992. Mr. Rain served in senior financial positions at Nowsco Well Service Ltd., an oilfield service company with worldwide operations, from 1992 through August 1996. Mr. Rain was the Chief Financial Officer of Trican Well Service Ltd, an oilfield service company with operations in Alberta and Saskatchewan, from October 1996 through April 1997. Mr. Rain joined Pacalta Resources Ltd. in May 1997 as Treasurer and Corporate Controller. Pacalta was an oil and natural gas exploration and production company with operations primarily in Ecuador. When AEC acquired Pacalta in 1999, Mr. Rain joined Mr. Chernoff at Caribou as Director and CFO, and became Director, Corporate Finance at Petrobank in March 2000. Mr. Rain assumed the position of Vice President, Finance and Chief Financial Officer of Petrobank in October 2001 and resigned in March 2004. Mr. Rain was Vice President and CFO of Harvest Energy Trust from July 2004 through February 2006 and has been Corporate Secretary of Harvest since July 2002 when it was founded

Organization Position Status
Harvest Energy Trust Secretary Current

Mr. Saunders is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Calgary. Mr. Saunders articled at the Calgary office of PricewaterhouseCoopers LLP Chartered Accountants and was a Manager in their taxation group until he departed in 2000. Mr. Saunders served as a Senior Tax Planner for PanCanadian Petroleum Limited from April 2000 to March 2002. He continued with the organization following the April 2002 merger of AEC and PanCanadian Energy Inc. (to form EnCana Corporation) as an International Tax Analyst until October 2004. Mr. Saunders has been Harvest's Director of Taxation since November 2004.

Organization Position Status
Harvest Energy Trust Treasurer Current
Harvest Energy Trust Board of Directors Current

Organization Position Status
Harvest Energy Trust Chairman Current

Mr. Chernoff is a Professional Engineer with a Bachelor of Applied Science degree in Chemical Engineering from Queen's University. In 1988, Mr. Chernoff co-founded Pacalta Resources Ltd., a public junior oil and natural gas company with operations in Canada and Latin America, where he held various senior positions including Executive Vice President and Chief Financial Officer. Mr. Chernoff was director of Pacalta from 1992 until it was purchased by Alberta Energy Company in May 1999 for $1 billion. Mr. Chernoff is currently President of Caribou Capital Corp. and is also a director of several other public companies. In 2002, Mr. Chernoff co-founded Harvest Energy Trust to pursue oil and natural gas development and acquisition opportunities. He holds the position of Chairman of the Board.

Organization Position Status
Maxim Power Corp. Chairman Current
West Energy Director Current
Arcan Resources Ltd. Director Current
Harvest Energy Trust Board of Directors Current
Harvest Energy Trust Co-Founder Former
Harvest Energy Trust Chairman Former
Queen's University Bachelor of Applied Science Degree In Chemical Engineering Former

Mr. Blue is an independent consultant who until 2001 served as Chairman, President & Chief Executive Officer of Chase Manhattan Bank of Canada, and Managing Director of Chase Manhattan Bank in New York. Mr. Blue has over thirty years experience in financial services, and has served on numerous domestic and international Boards. Mr. Blue holds a B.A. in Economics from the University of Winnipeg.

Organization Position Status
Harvest Energy Trust Board of Directors Current

Mr. Boone has more than 25 years of oil and gas industry experience with some of the most significant producing companies in the Canadian industry. He began his career with Imperial Oil holding various positions and joined PanCanadian Petroleum in 2000 as Executive Vice-President and Chief Operating Officer. He was named Executive Vice President of EnCana Corporation and President of the company's Offshore and International Operations Division. In 2003 he founded a new oil and gas company, Escavar Energy Inc. He is currently the President & CEO of Cadence Energy Inc. A graduate of Queen’s University, Mr. Boone holds a Bachelor of Science degree with Honours in Civil Engineering.

Organization Position Status
Harvest Energy Trust Board of Directors Current

Organization Position Status
Harvest Energy Trust Board of Directors Current

Mr. McFadyen holds a Bachelor of Arts (Econ.) degree from Sir George Williams University and a Master of Arts (Econ.) degree from the University of Calgary. He was employed at Alberta Energy and Utilities Board (formerly the Oil and Gas Conservation Board) between 1969 and 1976. In 1976, Mr. McFadyen began work for Alberta Energy Company Ltd. ("AEC"), (now EnCana Corporation, a leading independent oil and natural gas producer in North America). For 20 years, he served as a Vice President of the Corporation and President of several business units, retiring in June of 2002. He is a director of Computershare Trust Company of Canada and a director of Hunting PLC

Organization Position Status
Harvest Energy Trust Board of Directors Current

Mr. Brussa is a barrister and solicitor and has been a partner at Burnet, Duckworth & Palmer LLP in Calgary since 1987. He is recognized as a leading tax practitioner in Canada and sits on the board of directors of several Canadian public companies.

Organization Position Status
Harvest Energy Trust Board of Directors Current

Organization Position Status
Harvest Energy Trust Board of Directors Current

Organization Position Status
Earth Energy Resources, Inc Director Current
Blue Mountain Energy Director Current
Harvest Energy Trust Director Current
Mystique Energy, Inc. Director Current
Imperial Oil Limited Former
University of Manitoba Bachelor of Science Degree In Mechanical Engineering Former

Mr. Friley is a native Albertan who has been involved in the oil and gas industry for the past 30 years. Mr. Friley is the former President and CEO of Triumph Energy Corporation which he led until its sale in 2001. He is currently President and CEO of Telluride Oil and Gas Ltd., President of Skyeland Oils Ltd., a Director of Mustang Resources Ltd., and Chairman of TimberRock Resources. Mr. Friley graduated from the University of Colorado with a degree in Geology and has explored for oil and gas throughout western Canada with both public and private companies

Organization Position Status
Harvest Energy Trust Board of Directors Current
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HTE $9.3719 +0.0519 (0.56% )
Volume 875,089
Shares Outstanding 181.1M
Market Cap 1.6B
Year High 11.55
Year Low 3.00
Earnings Per Share 1.070
P/E Ratio 8.7588
Dividend 0.568
Yield 6.060
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