BALTIMORE, July 24 /PRNewswire-FirstCall/ -- The Board of Directors of Petroleum & Resources Corporation (NYSE: PEO) has elected Nancy J. F. Prue to Executive Vice President effective July 9, 2009. Ms. Prue had been Vice President since 2005 and Vice President-Research with the Corporation since 1986. Prior to that Ms. Prue joined The Adams Express Company in 1982 as a research analyst after previous similar positions with Maryland National Bank and Fidelity & Deposit.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090724/PH51576 )

Ms. Prue graduated summa cum laude from Villanova University. She earned an MBA and Law Degree from the University of Baltimore. She is a Chartered Financial Analyst, a member of the Baltimore Security Analysts Society, of which she is a past president, and a member of the Maryland State Bar Association. She is also a member and past president of the National Association of Petroleum Investment Analysts.

Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange and Pacific Exchange under the symbol PEO.

    For further information, please contact
    Douglas G. Ober, Chairman, CEO and President
    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

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SOURCE Petroleum & Resources Corporation