diff --git a/src/Internal/PqStatementStorage.php b/src/Internal/PqStatementStorage.php
deleted file mode 100644
index d0ea108..0000000
--- a/src/Internal/PqStatementStorage.php
+++ /dev/null
@@ -1,9 +0,0 @@
-<?php
-
-namespace Amp\Postgres\Internal;
-
-class PqStatementStorage extends StatementStorage
-{
-    /** @var \pq\Statement */
-    public $statement;
-}
diff --git a/src/Internal/StatementStorage.php b/src/Internal/StatementStorage.php
deleted file mode 100644
index 7d81ed2..0000000
--- a/src/Internal/StatementStorage.php
+++ /dev/null
@@ -1,16 +0,0 @@
-<?php
-
-namespace Amp\Postgres\Internal;
-
-use Amp\Struct;
-
-class StatementStorage
-{
-    use Struct;
-
-    /** @var |null */
-    public $promise;
-
-    /** @var int */
-    public $count = 1;
-}
diff --git a/src/PgSqlHandle.php b/src/PgSqlHandle.php
index 32e8f5d..b1acb44 100644
--- a/src/PgSqlHandle.php
+++ b/src/PgSqlHandle.php
@@ -50,7 +50,7 @@ final class PgSqlHandle implements Handle
     /** @var callable */
     private $unlisten;
 
-    /** @var Internal\StatementStorage[] */
+    /** @var Promise[] */
     private $statements = [];
 
     /** @var int */
@@ -312,12 +312,6 @@ final class PgSqlHandle implements Handle
 
         \assert(isset($this->statements[$name]), "Named statement not found when deallocating");
 
-        $storage = $this->statements[$name];
-
-        if (--$storage->count) {
-            return new Success;
-        }
-
         unset($this->statements[$name]);
 
         return $this->query(\sprintf("DEALLOCATE %s", $name));
@@ -368,21 +362,17 @@ final class PgSqlHandle implements Handle
         $name = Handle::STATEMENT_NAME_PREFIX . \sha1($modifiedSql);
 
         if (isset($this->statements[$name])) {
-            $storage = $this->statements[$name];
-            ++$storage->count;
-
-            if ($storage->promise) {
-                return $storage->promise;
-            }
-
-            return new Success(new PgSqlStatement($this, $name, $sql, $names));
+            return $this->statements[$name];
         }
 
-        $this->statements[$name] = $storage = new Internal\StatementStorage;
-
-        $promise = $storage->promise = call(function () use ($name, $names, $sql, $modifiedSql) {
-            /** @var resource $result PostgreSQL result resource. */
-            $result = yield from $this->send("pg_send_prepare", $name, $modifiedSql);
+        return $this->statements[$name] = call(function () use ($name, $names, $sql, $modifiedSql) {
+            try {
+                /** @var resource $result PostgreSQL result resource. */
+                $result = yield from $this->send("pg_send_prepare", $name, $modifiedSql);
+            } catch (\Throwable $exception) {
+                unset($this->statements[$name]);
+                throw $exception;
+            }
 
             switch (\pg_result_status($result, \PGSQL_STATUS_LONG)) {
                 case \PGSQL_COMMAND_OK:
@@ -391,8 +381,8 @@ final class PgSqlHandle implements Handle
                 case \PGSQL_NONFATAL_ERROR:
                 case \PGSQL_FATAL_ERROR:
                     $diagnostics = [];
-                    foreach (self::DIAGNOSTIC_CODES as $fieldCode => $desciption) {
-                        $diagnostics[$desciption] = \pg_result_error_field($result, $fieldCode);
+                    foreach (self::DIAGNOSTIC_CODES as $fieldCode => $description) {
+                        $diagnostics[$description] = \pg_result_error_field($result, $fieldCode);
                     }
                     throw new QueryExecutionError(\pg_result_error($result), $diagnostics);
 
@@ -405,15 +395,6 @@ final class PgSqlHandle implements Handle
                     // @codeCoverageIgnoreEnd
             }
         });
-        $promise->onResolve(function ($exception) use ($storage, $name) {
-            if ($exception) {
-                unset($this->statements[$name]);
-                return;
-            }
-
-            $storage->promise = null;
-        });
-        return $promise;
     }
 
     /**
diff --git a/src/PqHandle.php b/src/PqHandle.php
index 121eaa8..af2aed6 100644
--- a/src/PqHandle.php
+++ b/src/PqHandle.php
@@ -38,8 +38,11 @@ final class PqHandle implements Handle
     /** @var \Amp\Emitter[] */
     private $listeners;
 
-    /** @var @return PromiseInternal\PqStatementStorage[] */
-    private $statements = [];
+    /** @var Promise[] */
+    private $statementPromises = [];
+
+    /** @var \pq\Statement[] */
+    private $statementHandles = [];
 
     /** @var callable */
     private $fetch;
@@ -202,10 +205,10 @@ final class PqHandle implements Handle
         }
 
         try {
-            $handle = $method(...$args);
-
             $this->deferred = $this->busy = new Deferred;
 
+            $handle = $method(...$args);
+
             Loop::enable($this->poll);
             if (!$this->handle->flush()) {
                 Loop::enable($this->await);
@@ -311,11 +314,9 @@ final class PqHandle implements Handle
      */
     public function statementExecute(string $name, array $params): Promise
     {
-        \assert(isset($this->statements[$name]), "Named statement not found when executing");
+        \assert(isset($this->statementHandles[$name]), "Named statement not found when executing");
 
-        $statement = $this->statements[$name]->statement;
-
-        return new Coroutine($this->send([$statement, "execAsync"], $params));
+        return new Coroutine($this->send([$this->statementHandles[$name], "execAsync"], $params));
     }
 
     /**
@@ -331,17 +332,15 @@ final class PqHandle implements Handle
             return new Success; // Connection dead.
         }
 
-        \assert(isset($this->statements[$name]), "Named statement not found when deallocating");
+        \assert(
+            isset($this->statementPromises[$name], $this->statementHandles[$name]),
+            "Named statement not found when deallocating"
+        );
 
-        $storage = $this->statements[$name];
+        $statement = $this->statementHandles[$name];
+        unset($this->statementPromises[$name], $this->statementHandles[$name]);
 
-        if (--$storage->count) {
-            return new Success;
-        }
-
-        unset($this->statements[$name]);
-
-        return new Coroutine($this->send([$storage->statement, "deallocateAsync"]));
+        return new Coroutine($this->send([$statement, "deallocateAsync"]));
     }
 
     /**
@@ -384,33 +383,22 @@ final class PqHandle implements Handle
 
         $name = Handle::STATEMENT_NAME_PREFIX . \sha1($modifiedSql);
 
-        if (isset($this->statements[$name])) {
-            $storage = $this->statements[$name];
-            ++$storage->count;
-
-            if ($storage->promise) {
-                return $storage->promise;
-            }
-
-            return new Success(new PqStatement($this, $name, $sql, $names));
+        if (isset($this->statementPromises[$name])) {
+            return $this->statementPromises[$name];
         }
 
-        $this->statements[$name] = $storage = new Internal\PqStatementStorage;
-
-        $promise = $storage->promise = call(function () use ($storage, $names, $name, $sql, $modifiedSql) {
-            $statement = yield from $this->send([$this->handle, "prepareAsync"], $name, $modifiedSql);
-            $storage->statement = $statement;
-            return new PqStatement($this, $name, $sql, $names);
-        });
-        $promise->onResolve(function ($exception) use ($storage, $name) {
-            if ($exception) {
-                unset($this->statements[$name]);
-                return;
+        return $this->statementPromises[$name] = call(function () use ($names, $name, $sql, $modifiedSql) {
+            try {
+                $statement = yield from $this->send([$this->handle, "prepareAsync"], $name, $modifiedSql);
+            } catch (\Throwable $exception) {
+                unset($this->statementPromises[$name]);
+                throw $exception;
             }
 
-            $storage->promise = null;
+            $this->statementHandles[$name] = $statement;
+
+            return new PqStatement($this, $name, $sql, $names);
         });
-        return $promise;
     }
 
     /**
diff --git a/src/PqStatement.php b/src/PqStatement.php
index d7fd012..5db719a 100644
--- a/src/PqStatement.php
+++ b/src/PqStatement.php
@@ -7,7 +7,7 @@ use Amp\Sql\Statement;
 
 final class PqStatement implements Statement
 {
-    /** @var @return PromisePqHandle */
+    /** @var PqHandle */
     private $handle;
 
     /** @var string */