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, 2011
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 28, 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: $836,867
(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
ANADARKO PETROLEUM CORP. COM 032511107 13,517 165,000 SH SOLE 165,000
APACHE CORP. COM 037411105 19,638 150,000 SH SOLE 150,000
BAKER HUGHES, INC. COM 057224107 8,224 112,000 SH SOLE 112,000
CF INDUSTRIES HOLDINGS, COM 125269100 9,585 70,069 SH SOLE 70,069
CHEVRON CORP. COM 166764100 100,984 940,000 SH SOLE 940,000
CLIFFS NATURAL RESOURCES COM 18683K101 14,742 150,000 SH SOLE 150,000
CONOCOPHILLIPS COM 20825C104 27,951 350,000 SH SOLE 350,000
CONSOL ENERGY INC. COM 20854P109 2,483 46,300 SH SOLE 46,300
DEVON ENERGY CORP. COM 25179M103 10,095 110,000 SH SOLE 110,000
DOW CHEMICAL CO. COM 260543103 22,650 600,000 SH SOLE 600,000
ENERGEN CORP. COM 29265N108 11,677 185,000 SH SOLE 185,000
EOG RESOURCES INC. COM 26875P101 14,221 120,000 SH SOLE 120,000
EQT CORP. COM 26884L109 10,978 220,000 SH SOLE 220,000
EXXON MOBIL CORP. COM 30231G102 110,499 1,313,430 SH SOLE 1,313,430
FMC CORP. COM 302491303 11,041 130,000 SH SOLE 130,000
FOREST OIL CORP. COM 346091705 5,325 140,771 SH SOLE 140,771
FREEPORT-MCMORAN COPPER COM 35671D857 27,497 495,000 SH SOLE 495,000
HALLIBURTON CO. COM 406216101 26,166 525,000 SH SOLE 525,000
HESS CORP. COM 42809H107 21,303 250,000 SH SOLE 250,000
INTERNATIONAL COAL GROUP COM 45928H106 23,372 2,068,283 SH SOLE 2,068,283
KINDER MORGAN INC COM 49456B101 2,104 71,000 SH SOLE 71,000
MASSEY ENERGY CO. COM 576206106 6,836 100,000 SH SOLE 100,000
MDU RESOURCES GROUP, INC. COM 552690109 7,934 345,400 SH SOLE 345,400
NABORS INDUSTRIES, LTD SHS G6359F103 11,210 369,000 SH SOLE 369,000
NATIONAL FUEL GAS CO. COM 636180101 12,950 175,000 SH SOLE 175,000
NATIONAL OILWELL VARCO COM 637071101 15,854 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES COM 646025106 12,327 287,000 SH SOLE 287,000
NEWFIELD EXPLORATION COM 651290108 6,081 80,000 SH SOLE 80,000
NOBLE ENERGY INC. COM 655044105 21,746 225,000 SH SOLE 225,000
NORTHEAST UTILITIES COM 664397106 6,920 200,000 SH SOLE 200,000
OASIS PETROLEUM, INC. COM 674215108 4,743 150,000 SH SOLE 150,000
OCCIDENTAL PETROLEUM COM 674599105 36,572 350,000 SH SOLE 350,000
PIONEER NATURAL COM 723787107 14,269 140,000 SH SOLE 140,000
POTASH CORP OF COM 73755L107 16,662 282,750 SH SOLE 282,750
PRAXAIR, INC. COM 74005P104 19,965 196,508 SH SOLE 196,508
QEP RESOURCES, INC COM 74733V100 8,108 200,000 SH SOLE 200,000
QUESTAR CORP COM 748356102 3,076 176,300 SH SOLE 176,300
ROYAL DUTCH SHELL SPONSORED ADR A 780259206 24,088 330,612 SH SOLE 330,612
SCHLUMBERGER LTD COM 806857108 46,630 500,000 SH SOLE 500,000
SOUTHWESTERN ENERGY COM 845467109 8,594 200,000 SH SOLE 200,000
SPECTRA ENERGY CORP. COM 847560109 5,676 208,812 SH SOLE 208,812
TECK RESOURCES LTD CL B 878742204 10,604 200,000 SH SOLE 200,000
TRANSOCEAN LTD. REG SHS H8817H100 17,769 227,953 SH SOLE 227,953
WEATHERFORD INT'L. LTD REG H27013103 10,170 450,000 SH SOLE 450,000
WILLIAMS COMPANIES, INC. COM 969457100 14,031 450,000 SH SOLE 450,000
836,867