Obituary of Jack Armstrong

April 30, 1934 – Vancouver, British Columbia

February 17, 2022 – Calgary, Alberta

Jack Armstrong of Calgary, AB passed away suddenly and peacefully at his desk on his computer doing what he loved on Thursday, February 17, 2022, at the age of 87 years.

Jack met Lili in 1991 which was the beginning of a loving and caring relationship. Jack and Lili loved to travel, and enjoyed many years of exploring the world together. Many of the vacations were spent with Jack’s daughter Karen and her husband Gerald. Jack was fortunate to be a grandfather to three wonderful grandchildren, Brittney, Jacqueline and Walker.  Jack was predeceased by his first wife Lou Anne, son Brian, and his brother Gordon.

Jack’s first role after qualifying as a CA was with the Triad Oil Company, a Canadian subsidiary of the British Petroleum Group. In this initial exposure to the exploration oil business he worked closely with the engineers, geologists, and geophysicists on a daily basis. When BP was initiating oil trading in Canada he had a minor role in the buy/sell and linefill functions. All told he regarded his ten years with the group as challenging, rewarding and certainly a learning period.

Jack’s next career endeavor was as a Treasurer & Comptroller of Panartic Oils LTD which had been incorporated to explore for oil & gas in Canada’s Artic Islands. This newly formed company was financed by a consortium of the Government of Canada and some 18 Corporation shareholders by periodic cash calls. This form of financing had been developed in the mining industry but had not previously been used in the oil industry. In later years, it has become popular there as flow-through shares. His seven years with Panartic were probably the most exciting of his professional career. They had many successes, including a dozen gas and one oil discovery, however due to location, they have yet to reach the market. Ownership of the rights does still reside within the Alberta oil patch.

Jack’s final industry role was ten years as Vice President and CFO of the Alberta Energy Company which a few years later became Encana and Cenovus. His primary role at AEC was corporate financing and acquisition and divestitures. One of the financings he remembers was negotiated with The Royal Bank in the dying days of the Income Debenture era. It was a very large amount, keyed to production, with all the usual bells and whistles, with an optional tax advantage for the Bank. On the acquisitions side, he vividly recalled one closing in particular when they acquired a 20% interest in the Syncrude Project, which was too much for their appetite and divested a good portion of it at the same time. His years with AEC were most challenging and rewarding.

Jack was a true gentleman and he was loved by all.

Funeral Services will be held at McInnis & Holloway (Chapel of The Bells, 2720 Centre Street North, Calgary, AB), on Thursday, February 24, 2022 at 2:00 p.m. Reception to follow in the Hospitality Centre at the Funeral Home. Family and friends who are unable to attend in person are invited to join Mr. Armstrong's service streamed live (see below) on the day of the service. For those who are unable to view live, a recording of the service will be posted. Condolences, memories, and photos may be shared and viewed at here.

In living memory of Jack Armstrong, a tree will be planted in the Ann & Sandy Cross Conservation Area by McInnis & Holloway Funeral Homes, Chapel of the Bells, 2720 Centre Street North, Calgary, AB T2E 2V6, Telephone: 403-243-8200.

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