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 > Pta farmed out LLA 10 methinks

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Comment by Whitehellon Aug 05, 2014 5:45pm

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Post# 22811498

RE:Pta farmed out LLA 10 methinks

1. LLA-10 Farm-in: Parex has signed a farm-in agreement for the Exploration Area of Block LLA-10 in the Llanos Basin of Colombia. Pursuant to the terms of the farm-in agreement, Parex will pay 89% of the dry-hole cost of one exploration well to earn 44.5% working interest and operatorship. The Block is approximately 189,500 gross acres and subject to an initial base royalty of 11%. We expect to commence drilling operations in late 2014 subject to regulatory approval from the Colombian National Hydrocarbons Agency ("ANH"). strange that one would give up their WI on the verge of Malavar-1, unless... makes me Wonder if the 89 % cost of the dry-hole is in fact, malavar-1...

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