US

There is still much to be done.  New approaches to hydraulic fracturing and horizontal drilling are showing that they can double the production from many plays; there are good engineering reasons to believe that a second doubling could take place in the next few years.  As a consequence, several US plays that were once considered unprofitable could benefit from a new look.  There are other areas that have been neglected; our principals have recently opened new areas in Illinois that look to be very profitable.  Blocks that we purchased for $50 to $100 are already now selling for $1500.