The consortium that came up dry in the Apoteri K-2 exploratory oil well here sunk US$15 million into that venture, according to a report in the online edition of the oil and gas journal, Upstream.
Shares of Canacol Energy, Sagres Energy and Groundstar Resources fell after the Canadian explorers abandoned the well in the Takutu basin of Guyana as they failed to find oil. A company representative did not immediately respond to questions from Stabroek News yesterday.
The Calgary, Alberta-based energy explorers, which have together invested about $15 million on the Apoteri K-2 well so far, said they