UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2006
Check here if Amendment [ ]; Amendment Number:
This amendment (Check only one.) : [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Petroleum & Resources Corporation
Address: 7 St. Paul Street, Suite 1140
Baltimore, MD 21202
Form 13F File Number: 28-596
The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the
report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists,and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Christine M. Sloan
Title: Assistant Treasurer
Phone: (410) 752-5900
Signature, Place, and Date of Signing:
Christine M. Sloan Baltimore, MD July 18, 2006
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported
are in this report, and all holdings are reported by other
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings
for this reporting manager are reported in this report and a portion are
reported by other reporting manager (s).)
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
28
[Repeat as necessary.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 55
Form 13F Information Table Value Total: $ 795,141
(in thousands)
List of Other Included Managers:
Provide a numbered list of the name (s) and Form 13F file number(s)
of all institutional investment managers with respect to which this
report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and
list entries.]
No. Form 13-F File No. Name
28-
[Repeat as necessary.]
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE IN SHARES/PRN SH/ PUT/ INVSTM OTHER VOTING AUTHORITY
000's AMOUNT PRN CALLDISCRETNMANAGERS
SOLE SHARED NONE
>C>
AGL RESOURCES INC. COM 001204106 6,480 170,000 SH SOLE 170,000
AIR PRODUCTS & CHEMICA COM 009158106 7,990 125,000 SH SOLE 125,000
APACHE CORP. COM 037411105 10,797 158,200 SH SOLE 158,200
AQUA AMERICA, INC. COM 03836W103 8,660 380,000 SH SOLE 380,000
ARCH COAL INC. COM 039380100 1,271 30,000 SH SOLE 30,000
ARKEMA COM 041232109 226 6,000 SH SOLE 6,000
AVENTINE RENEWABLE ENE COM 05356X403 1,556 40,000 SH SOLE 40,000
BAKER HUGHES, INC.. COM 057224107 10,641 130,000 SH SOLE 130,000
BJ SERVICES CO. COM 055482103 27,572 740,000 SH SOLE 740,000
BP P.L.C. SPONSORED ADR055622104 41,766 600,000 SH SOLE 600,000
CHEVRON CORP. COM 166764100 39,408 635,000 SH SOLE 635,000
CONOCOPHILLIPS COM 20825C104 36,493 556,891 SH SOLE 556,891
CONSOL ENERGY INC. COM 20854P109 3,738 80,000 SH SOLE 80,000
DEVON ENERGY CORP. COM 25179M103 20,539 340,000 SH SOLE 340,000
DUKE ENERGY CORP. COM 26441C105 6,392 217,624 SH SOLE 217,624
DUPONT EI DE NEMOURS COM 263534109 6,552 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 15,364 400,000 SH SOLE 400,000
EOG RESOURCES INC. COM 26875P101 22,189 320,000 SH SOLE 320,000
EQUITABLE RESOURCES IN COM 294549100 15,075 450,000 SH SOLE 450,000
EXXON MOBIL CORP. COM 30231G102 71,166 1,160,000 SH SOLE 1,160,000
FLORIDA ROCK INDUSTRIE COM 341140101 3,725 75,000 SH SOLE 75,000
GENERAL ELECTRIC CO. COM 369604103 14,990 454,800 SH SOLE 454,800
GLOBALSANTAFE CORP. COM G3930E101 16,747 290,000 SH SOLE 290,000
GRANT PRIDECO INC COM 38821G101 13,783 308,000 SH SOLE 308,000
HERCULES OFFSHORE, INC COM 427093109 5,250 150,000 SH SOLE 150,000
HESS CORPORATION COM 42809H107 10,306 195,000 SH SOLE 195,000
HOLLY CORP. COM PAR $0.01435758305 20,244 420,000 SH SOLE 420,000
HUGOTON ROYALTY TR TEX UNIT BEN INT444717102 708 23,843 SH SOLE 23,843
KERR-MCGEE CORP. COM 492386107 14,931 215,294 SH SOLE 215,294
MARATHON OIL CO. COM 565849106 9,996 120,000 SH SOLE 120,000
MARTIN MARIETTA MATERI COM 573284106 2,735 30,000 SH SOLE 30,000
MDU RESOURCES GROUP, I COM 552690109 9,152 250,000 SH SOLE 250,000
MURPHY OIL CORP. COM 626717102 12,094 216,500 SH SOLE 216,500
NABORS INDUSTRIES, LTD COM G6359F103 17,571 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 7,028 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES C COM 646025106 9,356 200,000 SH SOLE 200,000
NEWFIELD EXPLORATION C COM 651290108 8,564 175,000 SH SOLE 175,000
NOBLE CORP COM G65422100 14,884 200,000 SH SOLE 200,000
NOBLE ENERGY INC. COM 655044105 20,150 430,000 SH SOLE 430,000
OCCIDENTAL PETROLEUM C COM 674599105 20,510 200,000 SH SOLE 200,000
PIONEER NATURAL RESOUR COM 723787107 7,658 165,000 SH SOLE 165,000
PRECISION DRILLING TRU TR UNIT 740215108 9,960 300,000 SH SOLE 300,000
QUESTAR CORP COM 748356102 16,098 200,000 SH SOLE 200,000
ROHM & HAAS CO. COM 775371107 10,024 200,000 SH SOLE 200,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 18,419 275,000 SH SOLE 275,000
SCHLUMBERGER LTD COM 806857108 36,462 560,000 SH SOLE 560,000
SEMCO ENERGY INC. COM 78412D109 1,808 325,200 SH SOLE 325,200
SUNCOR ENERGY COM 867229106 7,291 90,000 SH SOLE 90,000
TODCO COM 88889T107 7,149 175,000 SH SOLE 175,000
TOTAL S.A. SPONSORED ADR89151E109 15,725 240,000 SH SOLE 240,000
VALERO ENERGY CORP. COM 91913Y100 23,615 355,000 SH SOLE 355,000
WEATHERFORD INT'L. LTD COM G95089101 24,490 493,560 SH SOLE 493,560
WESTERN REFINING INC. COM 959319104 1,618 75,000 SH SOLE 75,000
WILLIAMS COMPANIES, IN COM 969457100 10,512 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 17,708 400,000 SH SOLE 400,000
795,136