Michael A. Kijesky Elected Vice President - Research for Petroleum & Resources Corporation

Mar 24, 2011, 10:23 ET from Petroleum & Resources Corporation

BALTIMORE, March 24, 2011 /PRNewswire/ -- Michael A. Kijesky has been elected Vice President – Research of Petroleum & Resources Corporation (NYSE: PEO), effective April 1, 2011.  Mr. Kijesky joined the Corporation in August 2009 as a senior equity analyst with a focus on energy and basic materials stocks.

Doug Ober, Chairman, President and CEO, says, "Mike Kijesky has been a key contributor to the Corporation's success since joining us in 2009 and his promotion is well deserved."

Prior to joining the Corporation, Mr. Kijesky was a senior vice president/equity analyst with McHugh Associates, Inc., in Radnor, PA, and has also been an equities analyst with Cutler & Co., in W. Conshohocken, PA, a financial analyst with Air Products & Chemicals, Inc., and a process engineer with Rohm and Haas Company.

Mr. Kijesky is a Chartered Financial Analyst and received his undergraduate and Master of Business Administration degrees from Lehigh University.

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

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SOURCE Petroleum & Resources Corporation