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 > AMER (4,500 bopd, US$375M) vs PTA (4,600 bopd, US$54M)

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Comment by perdikaoilgason Apr 15, 2015 8:57am

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Post# 23631045

RE:AMER (4,500 bopd, US$375M) vs PTA (4,600 bopd, US$54M)

Miner,

You show the big picture by providing facts.

The pump failure on Langur-1 was repaired and the well flows again. This is an one-time event of course. Nevertheless, the company reduced further the drilling cost of the rig.

The thing is with Brent at $60, the company has Operating NetBack at US$25/bbl, and POSITIVE Cash Flow at ~ $20/bbl, pro forma the cost savings initiatives (Ecuador route, lower production expenses and royalty expenses in Llanos).

According also 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.

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