UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 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 February 11, 2011
[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: 45
Form 13F Information Table Value Total: $733,075 (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 5,270 147,010 SH SOLE 147,010
ANADARKO PETROLEUM CORP. COM 032511107 12,566 165,000 SH SOLE 165,000
APACHE CORP. COM 037411105 20,865 175,000 SH SOLE 175,000
BAKER HUGHES, INC. COM 057224107 6,403 112,000 SH SOLE 112,000
CF INDUSTRIES HOLDINGS, COM 125269100 1,802 13,334 SH SOLE 13,334
CHEVRON CORP. COM 166764100 85,775 940,000 SH SOLE 940,000
CLIFFS NATURAL RESOURCES COM 18683K101 11,702 150,000 SH SOLE 150,000
CONOCOPHILLIPS COM 20825C104 23,835 350,000 SH SOLE 350,000
CONSOL ENERGY INC. COM 20854P109 2,257 46,300 SH SOLE 46,300
DEVON ENERGY CORP. COM 25179M103 8,636 110,000 SH SOLE 110,000
DOW CHEMICAL CO. COM 260543103 20,484 600,000 SH SOLE 600,000
ENERGEN CORP. COM 29265N108 9,652 200,000 SH SOLE 200,000
EOG RESOURCES INC. COM 26875P101 10,969 120,000 SH SOLE 120,000
EQT CORP. COM 26884L109 9,865 220,000 SH SOLE 220,000
EXXON MOBIL CORP. COM 30231G102 96,038 1,313,430 SH SOLE 1,313,430
FOREST OIL CORP. COM 346091705 4,936 130,000 SH SOLE 130,000
FREEPORT-MCMORAN COPPER COM 35671D857 29,722 247,500 SH SOLE 247,500
HALLIBURTON CO. COM 406216101 16,332 400,000 SH SOLE 400,000
HESS CORP. COM 42809H107 19,135 250,000 SH SOLE 250,000
INTERNATIONAL COAL GROUP COM 45928H106 16,009 2,068,283 SH SOLE 2,068,283
MASSEY ENERGY CO. COM 576206106 9,657 180,000 SH SOLE 180,000
MDU RESOURCES GROUP, INC. COM 552690109 7,601 375,000 SH SOLE 375,000
NABORS INDUSTRIES, LTD SHS G6359F103 12,199 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. NJ COM 636180101 13,124 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 13,450 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES COM 646025106 12,502 290,000 SH SOLE 290,000
NEWFIELD EXPLORATION COM 651290108 4,327 60,000 SH SOLE 60,000
NOBLE CORP. SHS H5833N103 5,902 165,000 SH SOLE 165,000
NOBLE ENERGY INC. COM 655044105 20,659 240,000 SH SOLE 240,000
NORTHEAST UTILITIES COM 664397106 6,376 200,000 SH SOLE 200,000
OASIS PETROLEUM, INC. COM 674215108 5,424 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM COM 674599105 38,622 393,700 SH SOLE 393,700
PIONEER NATURAL COM 723787107 12,155 140,000 SH SOLE 140,000
POTASH CORP OF COM 73755L107 14,593 94,250 SH SOLE 94,250
PRAXAIR, INC. COM 74005P104 18,761 196,508 SH SOLE 196,508
QEP RESOURCES, INC COM 74733V100 7,262 200,000 SH SOLE 200,000
QUESTAR CORP COM 748356102 3,134 180,000 SH SOLE 180,000
ROYAL DUTCH SHELL SPONSORED ADR A 780259206 21,816 326,682 SH SOLE 326,682
SCHLUMBERGER LTD COM 806857108 39,662 475,000 SH SOLE 475,000
SOUTHWESTERN ENERGY COM 845467109 7,486 200,000 SH SOLE 200,000
SPECTRA ENERGY CORP. COM 847560109 5,218 208,812 SH SOLE 208,812
TOTAL S.A. SPONSORED ADR 89151E109 1,578 29,500 SH SOLE 29,500
TRANSOCEAN LTD. REG SHS H8817H100 17,930 257,953 SH SOLE 257,953
WEATHERFORD INT'L. LTD REG H27013103 10,260 450,000 SH SOLE 450,000
WILLIAMS COMPANIES, INC. COM 969457100 11,124 450,000 SH SOLE 450,000
733,075