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, 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: 28-596
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:
Christine M. Sloan Baltimore, MD February 3, 2006
[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: 50
Form 13F Information Table Value Total: $ 745,023
(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 5,918 170,000 SH SOLE 170,000
AIR PRODUCTS & CHEMICA COM 009158106 7,399 125,000 SH SOLE 125,000
ALON USA ENERGY INC. COM 020520102 118 6,000 SH SOLE 6,000
AMERADA HESS CORP COM 023551104 8,243 65,000 SH SOLE 65,000
APACHE CORP. COM 037411105 12,128 177,000 SH SOLE 177,000
AQUA AMERICA, INC. COM 03836W103 10,778 394,799 SH SOLE 394,799
ARCH COAL INC. COM 039380100 15,900 200,000 SH SOLE 200,000
BAKER HUGHES, INC.. COM 057224107 7,901 130,000 SH SOLE 130,000
BJ SERVICES CO. COM 055482103 27,136 740,000 SH SOLE 740,000
BP P.L.C. SPONSORED ADR055622104 38,532 600,000 SH SOLE 600,000
BURLINGTON RESOURCES I COM 122014103 21,274 246,800 SH SOLE 246,800
CHEVRON CORP. COM 166764100 36,049 635,000 SH SOLE 635,000
CONOCOPHILLIPS COM 20825C104 29,672 510,000 SH SOLE 510,000
CONSOL ENERGY INC. COM 20854P109 11,648 178,700 SH SOLE 178,700
DEVON ENERGY CORP. COM 25179M103 22,202 355,000 SH SOLE 355,000
DUKE ENERGY CORP. COM 264399106 5,974 217,624 SH SOLE 217,624
DUPONT EI DE NEMOURS COM 263534109 6,694 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 14,528 400,000 SH SOLE 400,000
EOG RESOURCES INC. COM 26875P101 25,312 345,000 SH SOLE 345,000
EQUITABLE RESOURCES IN COM 294549100 16,511 450,000 SH SOLE 450,000
EXXON MOBIL CORP. COM 30231G102 64,034 1,140,000 SH SOLE 1,140,000
GENERAL ELECTRIC CO. COM 369604103 15,941 454,800 SH SOLE 454,800
GLOBALSANTAFE CORP. COM G3930E101 13,963 290,000 SH SOLE 290,000
GRANT PRIDECO INC COM 38821G101 13,589 308,000 SH SOLE 308,000
HERCULES OFFSHORE, INC COM 427093109 3,579 126,000 SH SOLE 126,000
HOLLY CORP. COM PAR $0.01435758305 12,363 210,000 SH SOLE 210,000
KERR-MCGEE CORP. COM 492386107 9,781 107,647 SH SOLE 107,647
KEYSPAN CORP. COM 49337W100 2,498 70,000 SH SOLE 70,000
MARTIN MARIETTA MATERI COM 573284106 3,069 40,000 SH SOLE 40,000
MDU RESOURCES GROUP, I COM 552690109 8,185 250,000 SH SOLE 250,000
MURPHY OIL CORP. COM 626717102 13,843 256,400 SH SOLE 256,400
NABORS INDUSTRIES, LTD COM G6359F103 19,695 260,000 SH SOLE 260,000
NATIONAL FUEL GAS CO. COM 636180101 6,238 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES C COM 646025106 8,378 200,000 SH SOLE 200,000
NEWFIELD EXPLORATION C COM 651290108 8,762 175,000 SH SOLE 175,000
NOBLE CORP COM G65422100 13,050 185,000 SH SOLE 185,000
NOBLE ENERGY INC. COM 655044105 17,329 430,000 SH SOLE 430,000
OCCIDENTAL PETROLEUM C COM 674599105 15,976 200,000 SH SOLE 200,000
PIONEER NATURAL RESOUR COM 723787107 12,817 250,000 SH SOLE 250,000
PRECISION DRILLING TRU TR UNIT 740215108 9,870 300,000 SH SOLE 300,000
QUESTAR CORP COM 748356102 15,140 200,000 SH SOLE 200,000
ROHM & HAAS CO. COM 775371107 9,684 200,000 SH SOLE 200,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 16,910 275,000 SH SOLE 275,000
SCHLUMBERGER LTD COM 806857108 27,202 280,000 SH SOLE 280,000
SMURFIT-STONE CONTAINE COM 832727101 4,251 300,000 SH SOLE 300,000
TOTAL S.A. SPONSORED ADR89151E109 15,168 120,000 SH SOLE 120,000
VALERO ENERGY CORP. COM 91913Y100 12,384 240,000 SH SOLE 240,000
WEATHERFORD INT'L. LTD COM G95089101 17,867 493,560 SH SOLE 493,560
WILLIAMS COMPANIES, IN COM 969457100 10,426 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 19,114 435,000 SH SOLE 435,000
745,023