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 > dezzolt, I dont think you understand Las Maracas, but

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Comment by Whitehellon Oct 31, 2013 11:01am

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Post# 21865162

RE:RE:dezzolt, I dont think you understand Las Maracas, but

"A short clarifying note about the estimate of 2-2 1/2 years: 5 MM reserves depleted at rate of 6000 bbld - without considering that ~1.5 MM should be gone already (5000x300)"

5 Millions was at YE last year. saying that is considering that all appraisal well from LM field (especially LM12 which as help test the southern extent of the field) and la-Curiara-1 exploration well will not add any reserve. there is good reason why PXT decided to do a mid-year reserve report which gave them about 140 % increase in reserve and The LM field was one of the 3 field which support that increase.

PTA haven't done a mid-year report, so we are a little bit in the dark, but i would be suprised if we already could booked another 2,5 MM reserve based on the reserve assessment made by PXt.

Add to that the la-guira 1 and LC2 appraisal, if any good, and it could increase again.

I really think 7,5 MM reserve is a much better estimates, which at current rate would be approximately 3,5 RLI more or so...

but again, just my opinion :)
later

white