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 > PTA's acquisition will take place sooner rather than later

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Post by perdikaoilgason Sep 04, 2014 2:59am

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Post# 22904353

PTA's acquisition will take place sooner rather than later

As mentioned in another post quoted by "Value Digger" "Top idea" article for SeekingAlpha, there are only 8 publicly traded producers now in Colombia (GTE, CNE, APAGF, PXT, PRE, GPRK, AMER.L, and PTA).

All these producers trade between 4 and 9 times their 2014 EBITDA, while PTA currently trades just 1.5 times its 2014 EBITDA at the current price of C$0.39.

The ongoing M&A activity will shrink this number even further, given that:

- PRE must replace 60,000 bopd from the Rubiales field by 2016.

- PXT wants to hit 50,000 bopd by 2017 according to the CEO's inteview at Bloomberg.

The recent article below presents why PTA is an acquisition target, given that there are not any new significant oil discoveries, while the intermediate and major producers must replenish their production and reserves.

Article: Why PTA will be acquired sooner rather than later

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