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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.


NYSE:PTA - Post by User

Post by BCDrilleron May 01, 2011 3:40pm
798 Views
Post# 18514646

Calatea

Calatea
This is the Release on Calatea

The well encountered positive hydrocarbon indicators in the form of very high trip gas readings and oil in the mud filter-cake while drilling the prospective reservoir sections.  However, following the deployment of high mud weights to control the gas influx into the well, difficult down-hole conditions ensued. Electrical logs acquired using a logging-while-drilling tool indicate a possible hydrocarbon bearing zone in the Une Formation. Following several attempts, the decision was taken to postpone any further attempt to test the well. The option of a future re-entry will be kept open.

This is my interpretation of what its saying

We have a well, it has gas because we have issues tripping, there is oil as it is showing in the drilling fluid. How much we don't know because when we weighted up the mud system to control the gas influx  so we could safely logg and test without having well control problems with logging tools in hole  (very bad senario) we Bridged Off or we screwed up the hole somehow but were not telling. In that we have problems  we will run a Bridge plug or Open hole packer of some kind  leaving option open for re-entry.
 
The rumor that they RAN OUT of Rig, I think  is alittle incorrect, the Rig was big enough to drill it and Trip pipe, its surface Equipment was adequate again because the well got drilled.
The only real thing they may have ran out of was Well Control Equipment, became concerned and then decided to TEMPORARILY Suspend further operations on Calatea

If the well control equipment is the issue for what ever reason , then they must have very good Formation pressures.
I'ld like to know what mud weights were, what was the FP since they had to weight up.

When are they going to do Re-entry
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