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 EV (US$155 M) vs CAMAC's EV (US$540 M)

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Comment by perdikaoilgason Nov 02, 2014 4:59pm

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Post# 23086787

RE:RE:RE:PTA's EV (US$155 M) vs CAMAC's EV (US$540 M)

exciting, I have to welcome you on board first.

You showed up today with a highly inaccurate post. Let's see how far it will go.

I decided to not debate with you further because you obviously are new to the sector when you say:

" CAK's oil and gas reserve is way over PTA's one".

fyi, CAMAC's 2P reserves are 18.3 MMboe. See the company's presentation.

So CAMAC's EV/2P reserves now is: US$540/18.3 = US$29.51/boe of 2P reserves.

PTA's EV/2P reserves now at C$0.29 per share is: US$155/ 11.8 = US$13.13/boe of 2P reserves.

This is how we evaluate the energy companies. We do not evaluate them by using the absolute number of their 2P reserves, but we evaluate them by using their EV/2P Reserves ratio instead.

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and fyi, despite the $540 million EV, CAMAC's EBITDA for 2014 is NEGATIVE.

I wonder how you overlooked it......

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