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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 Bobwinson Dec 08, 2014 12:48pm
302 Views
Post# 23206566

unannounced dry hole?

unannounced dry hole?
I found this comment in a discussion of Parex....

Parex Resources Inc. (PXT) added 10 cents to $7.60 on 4.19 million shares. Much of the volume came from a 3.1-million-share block bought by National Bank Financial from ITG Canada. This happened earlier this week as well: On Dec. 2, when Parex lost 33 cents to $7.71 on 5.53 million shares, National Bank bought 3.3 million in one block from ITG. Perhaps National Bank customers are hoping for good results soon from the Tilo-1 well at block LLA-34 in Colombia's Llanos basin, held 55 per cent by Parex and 45 per cent by operator GeoPark. The Tilo-1 well is an attempt to expand the companies' successful Tigana field to the north. They discovered the Tigana field about a year ago and have since taken production to around 11,000 gross barrels of oil a day. Parex could use a good result from Tilo, because it is one of just two or three exploration wells being drilled this quarter, one of which has already turned up dry (the Zampona-1 on the Los Ocarros block, owned with Petroamerica Oil Corp. (PTA: $0.175)).



In the 9/25/14 presentation, this well is listed on page 10 of the presentation. Don't know company policy on announcing drill results. They will probably combine it with quarterly results but definitely not a positive for the big upside in production that the presentation forecasts.
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