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 > Stock Value in a merger deal

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Comment by HedgieTdoton Feb 06, 2015 10:26am

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Post# 23403446

RE:RE:RE:RE:RE:RE:Stock Value in a merger deal

Hey Perdy,

What part of this deal being at the tail end of the "ok" oil prices before the big crash (ie. negotiated in a higher price environment) and it subsequently taking Platino's stock down to a third of what it was before the deal (market telling them they overpaid) have you missed?

With a stock getting thrashed like that after a deal, it's the market saying "guys, you paid the wrong metrics".

So thinking others will pay that now is a bit of a stretch.

You're also missing the entire point that cash flow generation is really what these flowing barrel metrics are meant to simplify. And PTA's assets aren't generating squat for cash flow. Your $300+mm implied market cap suggests a buyer would pay what, like over 10-14x 2015 cash flow? You know that's not in the cards, yet you keep spewing your BS and trying to get people to believe it.

perdikaoilgas wrote: Based on PLATINO - CEDCO metrics, PTA should be sold no less than US$300 million with production at 5,500 boepd.

Market Cap + Net Debt = US$300 million means

Net Debt = - US$22 Million (Sep 2014)

So Market Cap = US$322 Million

This means 0.47 CAD and AGAIN with production at 5,500 boepd.

If the production rises, the total EV rises too. Easy to understand it.