Scott Holmes - President

Scott graduated from the Southern Alberta Institue of Technology’s (SAIT) Business Administration program in 1982. Scott’s career in the oil and gas business began in the mailroom of Husky Energy and progressed into the Retail Sales and Commercial Business Unit. After 8 years at Husky, Scott joined Northridge Petroleum Marketing’s Refined Products group as a Coordinator of Sales and Logistics. He subsequently joined Koch Industry’s Crude Oil Marketing Group where he was responsible for Refinery Supply, Crude Oil Pricing, Wellhead Supply, and was later promoted to Team Leader. In June 2000, Scott and two partners started a small independent crude oil marketing company called “Prosper Energy” which specialized in optimizing wellhead netbacks for small producers. In November of 2001 Prosper was subsequently purchased by Seminole Canada where Scott led the marketing group and continued to maintain the Prosper Business Unit. In 2003 Scott’s entrepreneurial spirit led to the creation of the Navitas Energy Group with 3 other Principals. The success of Navitas was of key interest to the J&S Energy Group (Mercuria) and ultimately led to purchase of Navitas and the formation of Mercuria Energy Canada where Scott became the President and Managing Director and Board Member. Scott’s charisma and leadership was instrumental in the growth of Mercuria in North America and also into becoming a joint venture partner in the upstream heavy oil business.


Paul Joslyn - Chief Financial Officer

Paul graduated from the University of Alberta in 1984 with a Bachelor of Commerce degree and started with Shell Canada Limited right after graduation. He progressed through a series of assignments in different areas including internal audit, budget and planning, and manager of accounts payable. While working at Shell, Paul obtained his Certified Management Accountant (CMA) designation. In 1997, Paul was seconded to Coral Energy Canada Inc as Senior Finance Manager and began to set up all the accounting, finance, and treasury operations for this new venture. It was during this assignment that he negotiated his first credit facility, a $100M CAD facility with TD Bank. In January of 2000, Paul returned to Shell Canada as Senior Cash Management Advisor; this enabled him to further his banking relationships in the Canadian marketplace as he was responsible for the Cash Management, short-term investing, foreign exchange management, and banking relationships with all the major banks that Shell Canada dealt with. In late 2001, Paul joined Enmax Energy as a Controller of the deregulated side of the business. This role involved implementing internal controls, coordinating the budget and reporting sectors of the business as well as being an active member of the senior management team that provided strategic direction for the Company. This was an especially challenging time in the electricity industry in Alberta as the market was just going through the early stages of deregulation. In late 2003, Paul assumed his current role as Chief Financial Officer for Mercuria Energy Canada Inc (named J&S Energy Canada Inc at that time). This involved setting up virtually all non-commercial aspects of the trading company including: accounting, treasury, finance, risk management, credit, human resources policy development, governance, and internal controls. This role has expanded Paul’s network of banking contacts from Canada to virtually all of the commodity finance banks in New York and has experience in negotiating several credit facilities.

Michael Turner - Crude Oil Trader

Michael graduated from the University of Calgary in 1991 and later joined the Alberta Petroleum Marketing Commission (APMC) in the Crude Oil Accounting and Marketing departments with the responsibilities of Pricing and Contract Administration. After the APMC was privatized, Michael joined the Gulf Canada Resources Crude Oil Marketing Group where he developed financial reporting procedures for Gulf, and subsequently Tidal Energy Marketing for their role as a marketing agent for the government. During this time he also developed his skills as a Crude Oil Scheduler and was promoted to Manager of Crude Oil Logistics where he was responsible for the administration, scheduling, and trading of 235,000 bpd. In 2001 Michael joined Seminole Canada Energy Company where he expanded his skills in the physical and financial trading of crude oil and was promoted to the Vice President of Finance & Operations. In 2003 Michael was instrumental in the creation, start-up, and success of the Navitas Energy Group with his expertise in Marketing Logistics, Finance, Trading, and Scheduling. With the acquisition of Navitas by J&S (Mercuria), Michael continued in his role as the Vice President of Trading and Operations. Michael’s role was expanded to include both physical and financial trading where he ran a successful trading book and took the time to mentor junior employees into becoming key role players within in the organization. Michael’s broad knowledge of the Canadian and US oil marketing and pipeline infrastructure, along with his Financial background and Trading skills are truly an asset to any crude oil marketing company, small or large.