Here is a thought-provoking section from David Hughes:

"But the real story with natural gas is that everything depends on where it happens to be found. Although North America consumed 27 percent of world natural gas production in 2007, it has only 4 percent of world reserves. Equally alarmingly, North American production peaked in the early part of this decade. That is to say, the continent faces the prospect of importing greater amounts of an increasingly expensive fuel. The nature of the declines in natural gas production from existing wells means that ever more wells must be drilled to keep production flat, or to stem declines. The average decline rate of Canadian and US natural gas fields is 21 and 32 percent per year respectively, without new drilling."

So let's talk about those Luke properties ...