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Every corporation is only as strong as the foundation upon which it is built. The unconventional gas resource plays, land base, and expertise that NCE has built over five years has placed us in an advantageous position. Our long-term gas growth is anchored by a multi-year drilling portfolio. We have built very large land positions containing resources in which to invest capital, technology and expertise to continually build production and reserves. We have an exceptional North American land position of over 70,000 acres that contains low-risk, repeatable exploitation opportunities with large un-booked resource potential.
In any risk-assessment of NCE projects, a key point to remember is that our current land base contains more than enough unbooked potential to achieve our growth targets, without any new discoveries or acquisitions. This is in sharp contrast to companies whose focus on conventional resources puts them at considerable risk of either not finding or not being able to exploit sufficient new reserves. For that reason, NCE risks are largely confined to the execution of large, repeatable, development programs to turn our resources into reserves and production. The fact that our assets are located exclusively on-shore, in North America, further contributes to the inherently low risk profile of NCE projects.