Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

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Cohen & Steers Tax-Adv Pref Secs and Inc Fund > Parex Will Not Drill

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Post by Shlinker_on Aug 25, 2015 10:10am

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Post# 24048630

Parex Will Not Drill

No way Parex pays for this well in Q4. they have scaled back all exploration activities for 2015. Read more at

https://www.parexresources.com/investors/presentations/

Prospect/Well	Activity Type	Block	Working Interest	Expected Timing/Status
Tautaco	Exploration	LLA-10	50% (carried)1	Q4 2015
Crypto	Exploration	El Porton	100%	Q1 2016
Cumplidor N Sand	Appraisal	PUT-7	50%	Q1 2016
Tinigua-1	Exploration	Tinigua	40% (carried)2	1H 2016
Cohembi-16 NSand3	Development	Suroriente	15.8%	Q1 2016
Cohembi-17 NSand3	Development	Suroriente	15.8%	Q1 2016

PTA's share of capital for drilling the Tautaco well is 5.5% of the well costs, with the remainder being fully carried under a farm-in arrangement with Parex Resources Inc.
Under the farm-in agreement with Metapetroleum, PTA will pay 10% of capital for drilling the Tinigua-1 well, and retain a 40% working interest. Drilling costs for an optional second well will be fully carried by Metapetroleum up to $7 million.
Contingent on oil price