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A CEF Warhorse: Adams Express

Fri, 11 Jul 2008 06:29:00 GMT

In the present era of micro-second computer program trading with the minute-by-minute explosions and implosions of worth,how many CEFs claim a history of over one hundred and fifty years? Adams Express (ADX) has thrived since 1854. The first seventy-five[More...]

Now,Its the Japanese

Fri, 09 May 2008 17:18:39 GMT

Well, well, well.[More...]

Chevron Profit Halved, but Oil Production Surges

Sat, 31 Oct 2009 13:51:00 GMT

Oct. 31--Chevron Corp.'s profits slumped by 51 percent because of weaker oil prices, but the earnings beat Wall Street's estimates and the company's oil production surged.
San Ramon-based Chevron earned $3.83 billion, or $1.92 a share in the third quarter, compared with year-ago profits of $7.89 billion, or $3.85 a share, the company said Friday.
Still, Chevron's stock declined considerably less than its peers.

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Natural Gas Prices at 7-Year Low: Consumers Might Want to Look at Fixed-Price Contracts From an Alternate Supplier, Analysts Say

Sat, 29 Aug 2009 09:47:00 GMT

Aug. 29--Large supplies and the poor economy have pushed natural gas prices down to seven-year lows, which might prompt consumers to consider a fixed-price contract from an alternate supplier before the winter heating season begins -- especially if they still remember last winter's sky-high bills, analysts say.
"There's the expectation that even a modest economic recovery will boost natural gas prices," said Addison Armstrong, director of market research for Tradition Energy.
"Consumers should be aware of where prices are headed and realize, on a historical basis, these are very low and attractive prices."

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Nancy J. F. Prue Elected Executive Vice President of Petroleum & Resources Corporation

Fri, 24 Jul 2009 16:06:00 GMT

The Board of Directors of Petroleum & Resources Corporation 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.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[More...]

Petroleum & Resources Corporation Declares Dividend and Reports Performance for the First Half of 2009

Thu, 09 Jul 2009 18:59:00 GMT

BALTIMORE, July 9 /PRNewswire-FirstCall/ -- The Board of Directors of Petroleum & Resources Corporation today declared a dividend of $0.10 per share, payable September 1, 2009, to stockholders of record on August 14, 2009, and announced the Fund's performance for the first half of 2009.
For the six months ended June 30th, the total return on Petroleum & Resources' net asset value, with dividends and capital gains reinvested, was 4.9%.
The total return on Petroleum & Resources' market value was 6.7%.

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Brian S. Hook Elected Treasurer of Adams Express and Petroleum & Resources

Fri, 12 Jun 2009 19:20:00 GMT

The Board of Directors of both Adams Express Company and Petroleum & Resources Corporation elected Brian S. Hook, CFA, CPA as Treasurer effectively immediately.[More...]

Petroleum & Resources Corp. Announces Resignation of Robert E. Sullivan

Tue, 19 May 2009 13:52:00 GMT

Petroleum & Resources Corporation announces that Robert E. Sullivan, Executive Vice President and a member of the Corporation's portfolio management team, resigned from the Corporation, effective April 24, 2009, in order to pursue other business opportunities. Mr. Sullivan joined the Corporation in 2004 and was elected Executive Vice President in 2008. The Corporation wishes him well in his future endeavors and thanks him for his significant contributions during his tenure.[More...]

Petroleum & Resources Corporation Declares Dividend and Announces First Quarter Performance

Thu, 09 Apr 2009 16:46:00 GMT

For the three months ended March 31st, the total return on Petroleum & Resources' net asset value, with dividends and capital gains reinvested, was -8.4 %.
The total return on Petroleum & Resources' market value was -4.9 %.
For the twelve months ended March 31st, the total return on Petroleum & Resources' net asset value, with dividends and capital gains reinvested, was -42.6 %.

[More...]

Petroleum & Resources Provides Year-To-Date Update at Annual Meeting in Baltimore

Thu, 19 Mar 2009 19:43:00 GMT

Petroleum & Resources Corporation held its Annual Meeting of Stockholders in Baltimore today and provided this update on year-to-date activity through March 13, 2009:[More...]

Petroleum & Resources Corp. Announces that Maureen A. Jones, Vice President, CFO, and Treasurer, to Retire

Mon, 16 Mar 2009 15:58:00 GMT

Petroleum & Resources Corporation announces that Maureen A. Jones, Vice President, Chief Financial Officer, and Treasurer, will retire on May 31, 2009. Ms. Jones, a C.P.A., joined the Corporation in 1991 and has served as Vice President, Chief Financial Officer and Treasurer since 2002. Previously, she served as Treasurer beginning in 1993 and as Vice President and Treasurer from 1998 to 2002. Douglas Ober, Chairman and CEO of the Corporation, said about her retirement: "We thank Maureen for her outstanding service to the Corporation and our shareholders. She has masterfully helped to steer the Corporation through the myriad of changes in the accounting rules that have occurred during her tenure and I have come to rely on her keen mind and thorough approach. While we have been planning for this day for some time and have a succession plan in place, we will greatly miss Maureen."[More...]

Petroleum & Resources Corp. Announces that Joseph M. Truta, Executive Vice President, to Retire

Mon, 16 Mar 2009 15:54:00 GMT

Petroleum & Resources Corp. Announces that Joseph M. Truta, Executive Vice President, to Retire[More...]

Petroleum & Resources Announces 2008 Performance

Thu, 15 Jan 2009 21:34:00 GMT

Petroleum & Resources Corporation announces the Corporation's performance for 2008.[More...]

Petroleum & Resources Declares Dividend

Thu, 08 Jan 2009 15:20:00 GMT

The Board of Directors of Petroleum & Resources Corporation declared a dividend of $0.13 per share, payable March 1, 2009, to stockholders of record February 13, 2009, consisting of $0.06 of investment income and $0.05 of long-term capital gain, all realized in 2008, and $0.02 investment income realized in 2009.[More...]