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, 2005
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: 28-293
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 April 21, 2005
[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: 46
Form 13F Information Table Value Total: $ 625,909
(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 8,732 250,000 SH SOLE 250,000
AIR PRODUCTS & CHEMICA COM 009158106 7,911 125,000 SH SOLE 125,000
AMERADA HESS CORP COM 023551104 8,178 85,000 SH SOLE 85,000
APACHE CORP. COM 037411105 11,634 190,000 SH SOLE 190,000
AQUA AMERICA, INC. COM 03836W103 7,670 315,000 SH SOLE 315,000
ARCH COAL INC. COM 039380100 4,301 100,000 SH SOLE 100,000
BAKER HUGHES, INC.. COM 057224107 5,784 130,000 SH SOLE 130,000
BJ SERVICES CO. COM 055482103 19,196 370,000 SH SOLE 370,000
BP P.L.C. SPONSORED ADR055622104 37,440 600,000 SH SOLE 600,000
BURLINGTON RESOURCES I COM 122014103 12,357 246,800 SH SOLE 246,800
CHEVRONTEXACO CORP. COM 166764100 37,027 635,000 SH SOLE 635,000
CONOCOPHILLIPS COM 20825C104 30,195 280,000 SH SOLE 280,000
CONSOL ENERGY INC. COM 20854P109 7,462 158,700 SH SOLE 158,700
DEVON ENERGY CORP. COM 25179M103 18,978 397,440 SH SOLE 397,440
DUKE ENERGY CORP. COM 264399106 6,096 217,624 SH SOLE 217,624
DUPONT EI DE NEMOURS COM 263534109 8,967 175,000 SH SOLE 175,000
ENERGEN CORP. COM 29265N108 13,320 200,000 SH SOLE 200,000
EOG RESOURCES INC. COM 26875P101 17,546 360,000 SH SOLE 360,000
EQUITABLE RESOURCES IN COM 294549100 12,924 225,000 SH SOLE 225,000
EXXON MOBIL CORP. COM 30231G102 66,752 1,120,000 SH SOLE 1,120,000
GENERAL ELECTRIC CO. COM 369604103 16,400 454,800 SH SOLE 454,800
GLOBALSANTAFE CORP. COM G3930E101 9,445 255,000 SH SOLE 255,000
GRANT PRIDECO INC COM 38821G101 7,441 308,000 SH SOLE 308,000
HOLLY CORP. COM PAR $0.01435758305 5,781 155,100 SH SOLE 155,100
KERR-MCGEE CORP. COM 492386107 13,876 177,153 SH SOLE 177,153
KEYSPAN CORP. COM 49337W100 2,728 70,000 SH SOLE 70,000
MARTIN MARIETTA MATERI COM 573284106 3,937 70,400 SH SOLE 70,400
MDU RESOURCES GROUP, I COM 552690109 6,905 250,000 SH SOLE 250,000
MURPHY OIL CORP. COM 626717102 18,038 182,700 SH SOLE 182,700
NABORS INDUSTRIES, LTD COM G6359F103 12,715 215,000 SH SOLE 215,000
NATIONAL FUEL GAS CO. COM 636180101 5,718 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES C COM 646025106 12,080 277,500 SH SOLE 277,500
NOBLE CORP COM G65422100 10,399 185,000 SH SOLE 185,000
NOBLE ENERGY INC. COM 655044105 14,624 215,000 SH SOLE 215,000
OCCIDENTAL PETROLEUM C COM 674599105 14,234 200,000 SH SOLE 200,000
PIONEER NATURAL RESOUR COM 723787107 12,432 291,000 SH SOLE 291,000
PRECISION DRILLING COR COM 74022D100 2,389 32,000 SH SOLE 32,000
QUESTAR CORP COM 748356102 11,850 200,000 SH SOLE 200,000
ROHM & HAAS CO. COM 775371107 9,600 200,000 SH SOLE 200,000
ROYAL DUTCH PETROLEUM, Y REG EUR .56780257804 23,115 385,000 SH SOLE 385,000
SCHLUMBERGER LTD COM 806857108 19,734 280,000 SH SOLE 280,000
SMURFIT-STONE CONTAINE COM 832727101 4,641 300,000 SH SOLE 300,000
TOTAL S.A. SPONSORED ADR89151E109 14,068 120,000 SH SOLE 120,000
WEATHERFORD INT'L. LTD COM G95089101 11,878 205,000 SH SOLE 205,000
XTO ENERGY COM 98385X106 10,947 333,333 SH SOLE 333,333
WILLIAMS COMPANIES, COM 969457100 8,464 450,000 SH SOLE 450,000
625,909