ADAMS NATURAL RESOURCES FUND INC 
By BALTIMORE, Jan. 14, 2013 /PRNewswire/ -- Petroleum & Resources Corporation (NYSE: PEO) announces the Fund's performance for 2012.
2012 INVESTMENT RETURNS
On net asset value, the total return on Petroleum & Resources was 4.0%, with dividends and capital gains reinvested, for the twelve months ended December 31, 2012. The comparable figures for the Lipper Global Natural Resources Funds Index, the Dow Jones U. S. Oil & Gas Index, and the Dow Jones U. S. Basic Materials Index were 2.4%, 4.7%, and 10.5%, respectively. On market value, the total return on Petroleum & Resources was 4.3%.
The Fund paid $1.60 per share in income dividends and realized capital gains to shareholders in 2012, producing an annual distribution rate of 6.4%, exceeding the 6% minimum annual distribution rate commitment that the Fund made in September. Details regarding the 6% minimum annual distribution rate can be found at www.peteres.com.
NET ASSET VALUE ANNOUNCED
The net assets, shares outstanding, and net asset value per share of Petroleum & Resources at the end of 2012 compared with the end of 2011 were:
12/31/12 12/31/11
-------- --------
Net assets $732,988,462 $732,810,692
Shares outstanding 26,325,601 25,641,018
Net asset value per share $27.84 $28.58
SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER
During the fourth quarter, the Fund added FMC Technologies, Inc. to its investment portfolio, and increased its holdings in ConocoPhillips, Du Pont, EOG Resources, Peabody Energy, Phillips 66, Schlumberger, SPDR Gold Trust, and Transocean. Two holdings were eliminated from the portfolio with the sales of Air Products & Chemicals, Inc. and MDU Resources Group, Inc., and the Fund reduced its holdings in ExxonMobil, FMC Corp., Forest Oil, New Jersey Resources, QEP Resources, Royal Dutch Shell, and Spectra Energy.
OTHER SUMMARY FINANCIAL INFORMATION
-----------------------------------
12/31/12 12/31/11
-------- --------
Unrealized appreciation $284,191,650 $302,253,570
Net investment income $12,359,977 $10,208,955
Net realized gain $30,465,396 $39,332,517
Key Ratios
----------
Net investment income to
average net assets 1.67% 1.29%
Expense ratio (to average
net assets) 0.65% 0.56%
Portfolio turnover 11.7% 16.4%
Net cash & short-term
investments
to net assets 0.8% 0.0%
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/12)
------------------------------------------------
% of Net Assets
---------------
ExxonMobil 16.9
Chevron 12.7
Schlumberger 5.9
Occidental Petroleum 3.8
Anadarko Petroleum 3.1
Noble Energy 2.6
EOG Resources 2.6
Dow Chemical 2.4
National Oilwell Varco 2.3
CF Industries Holdings 2.3
---
Total 54.6%
SECTOR WEIGHTINGS (12/31/12)
----------------------------
% of Net Assets
---------------
Energy
Exploration & Production 21.6
Integrated Oil & Gas 33.9
Pipelines 3.2
Refiners 4.0
Services 15.5
Basic Materials
Chemicals 12.0
Gold & Precious Metals 1.7
Industrial Metals 4.0
Mining 0.7
Utilities 2.6
Short-Term Investments 1.0
ANNUALIZED ONE, THREE AND FIVE YEAR COMPARATIVE RETURNS (12/31/12)
------------------------------------------------------------------
1 Year 3 Year 5 Year
------ ------ ------
Petroleum & Resources (NAV) 4.0% 8.0% (0.8%)
Lipper Global Natural Resources Funds Index 2.4% 0.2% (5.7%)
DJ U.S. Oil & Gas Index 4.7% 9.3% (0.4%)
DJ U.S. Basic Materials Index 10.5% 7.5% 0.2%
Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol PEO.
For further information please contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: contact@peteres.com
Website: www.peteres.com
For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please contact us.
SOURCE Petroleum & Resources Corporation
