UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2010
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:
/s/ Christine M. Sloan Baltimore, MD April 23, 2010
[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 reporting
manager(s).)
[ ] 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).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 44
Form 13F Information Table Value Total: $650,848
(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.
NONE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 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 6,377 165,000 SH SOLE 165,000
ANADARKO PETROLEUM CORP. COM 032511107 13,838 190,000 SH SOLE 190,000
APACHE CORP. COM 037411105 20,300 200,000 SH SOLE 200,000
BAKER HUGHES, INC. COM 057224107 4,918 105,000 SH SOLE 105,000
CHEVRON CORP. COM 166764100 71,280 940,000 SH SOLE 940,000
CLIFFS NATURAL RESOURCES COM 18683K101 9,072 127,860 SH SOLE 127,860
CONOCOPHILLIPS COM 20825C104 17,909 350,000 SH SOLE 350,000
CONSOL ENERGY INC. COM 20854P109 5,333 125,000 SH SOLE 125,000
DEVON ENERGY CORP. COM 25179M103 7,087 110,000 SH SOLE 110,000
ENERGEN CORP. COM 29265N108 11,633 250,000 SH SOLE 250,000
EOG RESOURCES INC. COM 26875P101 11,153 120,000 SH SOLE 120,000
EQT CORP. COM 26884L109 12,300 300,000 SH SOLE 300,000
EXXON MOBIL CORP. COM 30231G102 68,320 1,020,000 SH SOLE 1,020,000
FOREST OIL CORP. COM 346091705 2,310 89,477 SH SOLE 89,477
FREEPORT-MCMORAN COPPER COM 35671D857 19,632 235,000 SH SOLE 235,000
HALLIBURTON CO. COM 406216101 21,091 700,000 SH SOLE 700,000
HESS CORP. COM 42809H107 15,638 250,000 SH SOLE 250,000
INTERNATIONAL COAL GROUP COM 45928H106 13,710 3,000,000 SH SOLE 3,000,000
MASSEY ENERGY CO. COM 576206106 8,366 160,000 SH SOLE 160,000
MDU RESOURCES GROUP INC COM 552690109 8,092 375,000 SH SOLE 375,000
NABORS INDUSTRIES, LTD SHS G6359F103 10,208 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 10,110 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 5,622 138,538 SH SOLE 138,538
NEW JERSEY RESOURCES CORP COM 646025106 11,268 300,000 SH SOLE 300,000
NEWFIELD EXPLORATION CO. COM 651290108 2,602 50,000 SH SOLE 50,000
NOBLE CORP. SHS H5833N103 26,765 640,000 SH SOLE 640,000
NOBLE ENERGY INC. COM 655044105 18,980 260,000 SH SOLE 260,000
NORTHEAST UTILITIES COM 664397106 5,528 200,000 SH SOLE 200,000
OCCIDENTAL PETE CORP DEL COM 674599105 37,198 440,000 SH SOLE 440,000
PIONEER NATURAL RESOURES COM 723787107 7,885 140,000 SH SOLE 140,000
POTASH CORP SASK INC COM 73755L107 10,741 90,000 SH SOLE 90,000
PRAXAIR, INC. COM 74005P104 16,310 196,508 SH SOLE 196,508
QUESTAR CORP. COM 748356102 10,368 240,000 SH SOLE 240,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 18,671 322,700 SH SOLE 322,700
SCHLUMBERGER LTD. COM 806857108 15,865 250,000 SH SOLE 250,000
SOUTHWEST GAS CORP. COM 844895102 2,306 77,070 SH SOLE 77,070
SOUTHWESTERN ENERGY COM 845467109 5,065 124,400 SH SOLE 124,400
SPECTRA ENERGY CORP. COM 847560109 4,705 208,812 SH SOLE 208,812
TOTAL S.A. SPONSORED ADR89151E109 11,604 200,000 SH SOLE 200,000
TRANSOCEAN LTD. REG SHS H8817H100 26,601 307,953 SH SOLE 307,953
WEATHERFORD INTL LTD REG H27013103 5,868 370,000 SH SOLE 370,000
WGL HOLDINGS INC. COM 92924F106 7,702 222,275 SH SOLE 222,275
WILLIAMS COS INC DEL COM 969457100 10,395 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 20,122 426,500 SH SOLE 426,500
650,848