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

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Post by perdikaoilgason Apr 15, 2015 3:22am

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Post# 23630675

PTA in April 2015: US$38M In Cash, Zero Debt, US$54M EV!

According to the annual report, PTA has US$66 million (55+11) in CASH NOW.

Subtract US$28 million for the Canadian notes that will be paid on April 19 (this week),

PTA currently has US$38 million IN CASH.

And Zero debt of course.

And, Positive Operating Cash Flow of approximately $20/bbl of course, given that the Operating Net Back is approximately US$25/bbl with Brent at US$60/bbl and including the new cost reductions and transportation cost savings (Ecuador route) that were activated in Q1 2015.

So PTA currently has only US$54 million Enterprise Value when the peers with much lower production have much higher EV.

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