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<PAGE> PAGE 18
SIGNATURE GRACE C. TORRES
TITLE TREASURER
July 20, 1998
To the Shareholders and Board of Directors of
Prudential Natural Resources Fund, Inc.
In planning and performing our audit of the
financial statements of Prudential Natural
Resources Fund, Inc. (the "Fund") for the year
ended May 31, 1998, we considered its internal
control, including control activities for
safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing
our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control. In
fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls.
Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing
financial statements for external purposes that
are fairly presented in conformity with generally
accepted accounting principles. Those controls
include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not be
detected. Also, projection of any evaluation of
internal control to future periods is subject to
the risk that it may become inadequate because of
changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute of
Certified Public Accountants. A material weakness
is a condition in which the design or operation of
one or more of the internal control components
does not reduce to a relatively low level the risk
that misstatements caused by error or fraud in
amounts that would be material in relation to the
financial statements being audited may occur and
not be detected within a timely period by
employees in the normal course of performing their
assigned functions. However, we noted no matters
involving internal control and its operation,
including controls for safeguarding securities,
that we consider to be material weaknesses as
defined above as of May 31, 1998.
This report is intended solely for the information
and use of management and the Board of Directors
of the Fund and the Securities and Exchange
Commission.
PricewaterhouseCoopers LLP
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<NAME> PRUDENTIAL NATURAL RESOURCES FUND (CLASS A)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 111,251,106
<INVESTMENTS-AT-VALUE> 99,766,936
<RECEIVABLES> 197,931
<ASSETS-OTHER> 2,169
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 99,967,036
<PAYABLE-FOR-SECURITIES> 413,875
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 427,892
<TOTAL-LIABILITIES> 841,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,714,149
<SHARES-COMMON-STOCK> 8,896,313
<SHARES-COMMON-PRIOR> 10,456,062
<ACCUMULATED-NII-CURRENT> (401,440)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,299,915
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,487,355)
<NET-ASSETS> 99,125,269
<DIVIDEND-INCOME> 1,149,776
<INTEREST-INCOME> 165,300
<OTHER-INCOME> 0
<EXPENSES-NET> 2,669,143
<NET-INVESTMENT-INCOME> (1,354,067)
<REALIZED-GAINS-CURRENT> 16,297,370
<APPREC-INCREASE-CURRENT> (34,757,340)
<NET-CHANGE-FROM-OPS> (19,814,037)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (18,345,597)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 104,445,079
<NUMBER-OF-SHARES-REDEEMED> (147,551,820)
<SHARES-REINVESTED> 16,191,113
<NET-CHANGE-IN-ASSETS> (65,075,262)
<ACCUMULATED-NII-PRIOR> (247,519)
<ACCUMULATED-GAINS-PRIOR> 7,548,288
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 970,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,669,143
<AVERAGE-NET-ASSETS> 37,933,000
<PER-SHARE-NAV-BEGIN> 16.27
<PER-SHARE-NII> (0.08)
<PER-SHARE-GAIN-APPREC> (2.33)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.69
<EXPENSE-RATIO> 1.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000816753
<NAME> PRUDENTIAL NATURAL RESOURCES FUND
<SERIES>
<NUMBER> 002
<NAME> PRUDENTIAL NATURAL RESOURCES FUND (CLASS B)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 111,251,106
<INVESTMENTS-AT-VALUE> 99,766,936
<RECEIVABLES> 197,931
<ASSETS-OTHER> 2,169
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 99,967,036
<PAYABLE-FOR-SECURITIES> 413,875
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 427,892
<TOTAL-LIABILITIES> 841,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,714,149
<SHARES-COMMON-STOCK> 8,896,313
<SHARES-COMMON-PRIOR> 10,456,062
<ACCUMULATED-NII-CURRENT> (401,440)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,299,915
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,487,355)
<NET-ASSETS> 99,125,269
<DIVIDEND-INCOME> 1,149,776
<INTEREST-INCOME> 165,300
<OTHER-INCOME> 0
<EXPENSES-NET> 2,669,143
<NET-INVESTMENT-INCOME> (1,354,067)
<REALIZED-GAINS-CURRENT> 16,297,370
<APPREC-INCREASE-CURRENT> (34,757,340)
<NET-CHANGE-FROM-OPS> (19,814,037)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (18,345,597)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 104,445,079
<NUMBER-OF-SHARES-REDEEMED> (147,551,820)
<SHARES-REINVESTED> 16,191,113
<NET-CHANGE-IN-ASSETS> (65,075,262)
<ACCUMULATED-NII-PRIOR> (247,519)
<ACCUMULATED-GAINS-PRIOR> 7,548,288
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 970,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,669,143
<AVERAGE-NET-ASSETS> 86,864,000
<PER-SHARE-NAV-BEGIN> 15.46
<PER-SHARE-NII> (0.17)
<PER-SHARE-GAIN-APPREC> (2.20)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.92
<EXPENSE-RATIO> 2.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000816753
<NAME> PRUDENTIAL NATURAL RESOURCES FUND
<SERIES>
<NUMBER> 003
<NAME> PRUDENTIAL NATURAL RESOURCES FUND (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 111,251,106
<INVESTMENTS-AT-VALUE> 99,766,936
<RECEIVABLES> 197,931
<ASSETS-OTHER> 2,169
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 99,967,036
<PAYABLE-FOR-SECURITIES> 413,875
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 427,892
<TOTAL-LIABILITIES> 841,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,714,149
<SHARES-COMMON-STOCK> 8,896,313
<SHARES-COMMON-PRIOR> 10,456,062
<ACCUMULATED-NII-CURRENT> (401,440)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,299,915
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,487,355)
<NET-ASSETS> 99,125,269
<DIVIDEND-INCOME> 1,149,776
<INTEREST-INCOME> 165,300
<OTHER-INCOME> 0
<EXPENSES-NET> 2,669,143
<NET-INVESTMENT-INCOME> (1,354,067)
<REALIZED-GAINS-CURRENT> 16,297,370
<APPREC-INCREASE-CURRENT> (34,757,340)
<NET-CHANGE-FROM-OPS> (19,814,037)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (18,345,597)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 104,445,079
<NUMBER-OF-SHARES-REDEEMED> (147,551,820)
<SHARES-REINVESTED> 16,191,113
<NET-CHANGE-IN-ASSETS> (65,075,262)
<ACCUMULATED-NII-PRIOR> (247,519)
<ACCUMULATED-GAINS-PRIOR> 7,548,288
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 970,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,669,143
<AVERAGE-NET-ASSETS> 2,060,000
<PER-SHARE-NAV-BEGIN> 15.46
<PER-SHARE-NII> (0.18)
<PER-SHARE-GAIN-APPREC> (2.19)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.92
<EXPENSE-RATIO> 2.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000816753
<NAME> PRUDENTIAL NATURAL RESOURCES FUND
<SERIES>
<NUMBER> 004
<NAME> PRUDENTIAL NATURAL RESOURCES FUND (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 111,251,106
<INVESTMENTS-AT-VALUE> 99,766,936
<RECEIVABLES> 197,931
<ASSETS-OTHER> 2,169
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 99,967,036
<PAYABLE-FOR-SECURITIES> 413,875
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 427,892
<TOTAL-LIABILITIES> 841,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,714,149
<SHARES-COMMON-STOCK> 8,896,313
<SHARES-COMMON-PRIOR> 10,456,062
<ACCUMULATED-NII-CURRENT> (401,440)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,299,915
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,487,355)
<NET-ASSETS> 99,125,269
<DIVIDEND-INCOME> 1,149,776
<INTEREST-INCOME> 165,300
<OTHER-INCOME> 0
<EXPENSES-NET> 2,669,143
<NET-INVESTMENT-INCOME> (1,354,067)
<REALIZED-GAINS-CURRENT> 16,297,370
<APPREC-INCREASE-CURRENT> (34,757,340)
<NET-CHANGE-FROM-OPS> (19,814,037)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (18,345,597)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 104,445,079
<NUMBER-OF-SHARES-REDEEMED> (147,551,820)
<SHARES-REINVESTED> 16,191,113
<NET-CHANGE-IN-ASSETS> (65,075,262)
<ACCUMULATED-NII-PRIOR> (247,519)
<ACCUMULATED-GAINS-PRIOR> 7,548,288
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 970,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,669,143
<AVERAGE-NET-ASSETS> 2,581,000
<PER-SHARE-NAV-BEGIN> 16
<PER-SHARE-NII> (0)
<PER-SHARE-GAIN-APPREC> (2)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12
<EXPENSE-RATIO> 1
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
July 20, 1998
To the Shareholders and Board of Directors of
Prudential Natural Resources Fund, Inc.
In planning and performing our audit of the
financial statements of Prudential Natural
Resources Fund, Inc. (the "Fund") for the year
ended May 31, 1998, we considered its internal
control, including control activities for
safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing
our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control. In
fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls.
Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing
financial statements for external purposes that
are fairly presented in conformity with generally
accepted accounting principles. Those controls
include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not be
detected. Also, projection of any evaluation of
internal control to future periods is subject to
the risk that it may become inadequate because of
changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute of
Certified Public Accountants. A material weakness
is a condition in which the design or operation of
one or more of the internal control components
does not reduce to a relatively low level the risk
that misstatements caused by error or fraud in
amounts that would be material in relation to the
financial statements being audited may occur and
not be detected within a timely period by
employees in the normal course of performing their
assigned functions. However, we noted no matters
involving internal control and its operation,
including controls for safeguarding securities,
that we consider to be material weaknesses as
defined above as of May 31, 1998.
This report is intended solely for the information
and use of management and the Board of Directors
of the Fund and the Securities and Exchange
Commission.
PricewaterhouseCoopers LLP
Prudential Natural Resources Fund
For the Annual period ended 5/31/98
File number 811-5206
SUB-ITEM 77J
Reclassification of Capital Accounts
The Fund accounts for and reports for
distributions to shareholders in accordance with
the American Institute of Certified Public
Accountants' Statement of Position 93-2:
Determination, Disclosure, and Financial Statement
Presentation of Income; Capital Gain, and Return
of Capital Distributions by Investment Companies.
The effect of applying this statement was to
decrease accumulated net investment loss and
decrease accumulated net realized gain on
investments by $1,200,146 for realized foreign
currency gains realized and tax basis net
operating losses during the fiscal year ended May
31, 1998.
