UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: November 30, 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 November 2, 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: $617,155 (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 CUSIP VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
OF CLASS (x $1000) PRN AMT PRN CALL DISCRETN MANAGER SOLE SHARED NONE
AGL RESOURCES INC. COM 001204106 6,329 165,000 SH SOLE 165,000
ANADARKO PETROLEUM CORP. COM 032511107 9,413 165,000 SH SOLE 165,000
APACHE CORP. COM 037411105 17,108 175,000 SH SOLE 175,000
BAKER HUGHES, INC. COM 057224107 4,771 112,000 SH SOLE 112,000
CHEVRON CORP. COM 166764100 76,187 940,000 SH SOLE 940,000
CLIFFS NATURAL RESOURCES INC. COM 18683K101 9,588 150,000 SH SOLE 150,000
CONOCOPHILLIPS COM 20825C104 20,101 350,000 SH SOLE 350,000
CONSOL ENERGY INC. COM 20854P109 4,620 125,000 SH SOLE 125,000
DEVON ENERGY CORP. COM 25179M103 7,121 110,000 SH SOLE 110,000
DOW CHEMICAL CO. COM 260543103 12,283 447,300 SH SOLE 447,300
ENERGEN CORP. COM 29265N108 11,430 250,000 SH SOLE 250,000
EOG RESOURCES INC. COM 26875P101 11,156 120,000 SH SOLE 120,000
EQT CORP. COM 26884L109 9,015 250,000 SH SOLE 250,000
EXXON MOBIL CORP. COM 30231G102 78,376 1,268,430 SH SOLE 1,268,430
FOREST OIL CORP. COM 346091705 3,861 130,000 SH SOLE 130,000
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 23,482 275,000 SH SOLE 275,000
HALLIBURTON CO. COM 406216101 13,228 400,000 SH SOLE 400,000
HESS CORP. COM 42809H107 14,780 250,000 SH SOLE 250,000
INTERNATIONAL COAL GROUP INC. COM 45928H106 15,960 3,000,000 SH SOLE 3,000,000
MASSEY ENERGY CO. COM 576206106 5,584 180,000 SH SOLE 180,000
MDU RESOURCES GROUP, INC. COM 552690109 7,481 375,000 SH SOLE 375,000
NABORS INDUSTRIES, LTD SHS G6359F103 9,391 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. NJ COM 636180101 10,362 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 8,707 195,800 SH SOLE 195,800
NEW JERSEY RESOURCES CORP. COM 646025106 11,374 290,000 SH SOLE 290,000
NEWFIELD EXPLORATION COMPANY COM 651290108 2,872 50,000 SH SOLE 50,000
NOBLE CORP. SHS H5833N103 7,434 220,000 SH SOLE 220,000
NOBLE ENERGY INC. COM 655044105 19,523 260,000 SH SOLE 260,000
NORTHEAST UTILITIES COM 664397106 5,914 200,000 SH SOLE 200,000
OASIS PETROLEUM, INC. COM 674215108 3,874 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM CORP. COM 674599105 30,827 393,700 SH SOLE 393,700
PIONEER NATURAL RESOURCES CO. COM 723787107 9,104 140,000 SH SOLE 140,000
POTASH CORP OF SASKATCHEWAN INC. COM 73755L107 10,263 71,250 SH SOLE 71,250
PRAXAIR, INC. COM 74005P104 17,737 196,508 SH SOLE 196,508
QEP RESOURCES, INC COM 74733V100 6,631 220,000 SH SOLE 220,000
QUESTAR CORP COM 748356102 3,506 200,000 SH SOLE 200,000
ROYAL DUTCH SHELL PLC-ADR A SPONSORED ADRA 780259206 19,459 322,700 SH SOLE 322,700
SCHLUMBERGER LTD COM 806857108 29,265 475,000 SH SOLE 475,000
SOUTHWESTERN ENERGY COM 845467109 6,688 200,000 SH SOLE 200,000
SPECTRA ENERGY CORP. COM 847560109 4,709 208,812 SH SOLE 208,812
TOTAL S.A. SPONSORED ADR 89151E109 7,327 142,000 SH SOLE 142,000
TRANSOCEAN LTD. REG SHS H8817H100 16,584 257,953 SH SOLE 257,953
WEATHERFORD INT'L. LTD REG H27013103 5,130 300,000 SH SOLE 300,000
WILLIAMS COMPANIES, INC. COM 969457100 8,600 450,000 SH SOLE 450,000
617,155