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

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Bullboard Posts

Post by Irishmantooon May 09, 2011 9:15am

560 Views

Post# 18547765

News.

Petroamerica Announces the Balay-2 ST1 Well Test Results Confirming the Significance of the Balay Discovery, Llanos Basin, Colombia
CALGARY, May 9 /CNW/ - Petroamerica Oil Corp. ("the Company") (TSXV: PTA) is pleased to announce that the Balay-2 ST1 appraisal well flowed from two perforated intervals in the Upper Mirador, 2,620 barrels of 26 degree API oil per day with 9.3% bulk sediment and water ("BS&W") that is probably mainly completion fluid, under electro-submersible pump. The Balay-2 ST1 well also defined a deeper oil-down-to in the Upper Mirador reservoir. Additionally, 145 barrels of heavy oil (13 degree API, waiting on laboratory confirmation) and water (10-16% BS&W) was recovered from the Barco Formation. No hydrocarbons were recovered from tests carried out in the Une and Gacheta reservoirs.
Nelson Navarrete, President and CEO, commented on the Balay-2 ST1 drilling result, "this is significant in terms of proving up recoverable oil volumes in the Balay structure, and more importantly, moving the project one step closer towards a commercial development."
The Balay discovery was announced on March 11, 2010 and the Balay-1 discovery well has been on long-term production test since July 14, 2010, producing more than 285,000 barrels of 28 degree API oil from the Upper Mirador Formation, with no measurable water (0.22% BS&W). The forward plan is to put the Balay-2 ST1 well on long-term test together with the Balay-1 well. A third well, Balay-3, is planned for the fourth quarter 2011 to appraise the northern extent of the Balay discovery.
Petroamerica Oil Corp., through its wholly owned subsidiary, Petroamerica International Corp., holds a 15% participating interest in the Balay block for which it received its approval from the ANH (Colombian National Hydrocarbon Agency) earlier this year. Petrobras is the operator with a 45% participating interest and the other partners are CEPSA COLOMBIAS.A. and Sorgenia, each holding a 30% and 10% participating interest, respectively.
ON BEHALF OF PETROAMERICA OIL CORP.
"Nelson Navarrete"
President and CEO

Bullboard Posts

From now on, dynaCERT instead of Bitcoin or NVIDIA?