BALTIMORE, MARYLAND -- FEBRUARY 6, 2008 - Petroleum & Resources Corporation (NYSE:PEO) provides this update on portfolio holdings as of December 31, 2007. The Corporation will mail its 2007 Annual Report on or about February 19, 2008.
TOP TEN HOLDINGS
The ten largest portfolio holdings were:
|
Company |
% of Net Assets |
| ExxonMobil |
11.9% |
| Chevron |
6.8% |
| Schlumberger |
5.6% |
| ConocoPhillips |
5.0% |
| Noble Corp. |
3.5% |
| Weatherford International |
3.5% |
| Total S.A. ADR |
3.3% |
| Occidental Petroleum |
3.2% |
| Valero Energy |
3.0% |
| Devon Energy |
3.0% |
|
48.8% |
SECTOR WEIGHTINGS
The portfolio weightings for the major sectors that the Fund invests in were:
| Integrated Oils | 38.7% |
| Oil Services | 22.6% |
| Exploration & Production | 15.9% |
| Utilities | 13.3% |
| Basic Materials & Other | 6.4% |
| Short-Term Investments | 3.4% |
Petroleum & Resources is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange under the symbol PEO.
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For further information, please contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
(410) 752-5900 or (800) 638-2479
E-mail: contact@peteres.com
Website: www.peteres.com
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