Tortoise North American Energy Corp. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Nov. 30, 2012

Tortoise North American Energy Corp. (NYSE: TYN) today announced that as of Nov. 30, 2012, the company’s unaudited total assets were approximately $226.0 million and its unaudited net asset value was $160.7 million or $25.51 per share.

As of Nov. 30, 2012, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act). The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 562 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

Set forth below is a summary of the company’s unaudited balance sheet at Nov. 30, 2012, and a summary of its top 10 holdings.

Unaudited Balance Sheet
  (in Millions)   Per Share
Investments $ 225.8 $35.84
Cash and Cash Equivalents 0.1 0.01
Other Assets 0.1 0.01
Total Assets 226.0 35.86
 
Short-Term Borrowings 34.8 5.52
 
Distribution payable to common stockholders 0.1 0.02
Other Liabilities 2.0 0.30
Deferred Tax Liability 28.4 4.51
Net Assets $ 160.7 $25.51

6.30 million common shares currently outstanding.

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