UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2007
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 July 31, 2007
[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: 47
Form 13F Information Table Value Total: $ 858,067
(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
AGL RESOURCES INC. COM 001204106 6,882 170,000 SH SOLE 170,000
AIR PRODUCTS & CHEMICA COM 009158106 9,242 115,000 SH SOLE 115,000
APACHE CORP. COM 037411105 12,907 158,200 SH SOLE 158,200
AQUA AMERICA, INC. COM 03836W103 6,320 281,000 SH SOLE 281,000
BAKER HUGHES, INC.. COM 057224107 17,247 205,000 SH SOLE 205,000
BJ SERVICES CO. COM 055482103 6,826 240,000 SH SOLE 240,000
BRONCO DRILLING CO INC COM 112211107 3,938 240,000 SH SOLE 240,000
CHEVRON CORP. COM 166764100 54,756 650,000 SH SOLE 650,000
CONOCOPHILLIPS COM 20825C104 43,716 556,891 SH SOLE 556,891
DEVON ENERGY CORP. COM 25179M103 25,836 330,000 SH SOLE 330,000
DUKE ENERGY CORP. COM 26441C105 3,983 217,624 SH SOLE 217,624
DUPONT EI DE NEMOURS COM 263534109 8,007 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 21,976 400,000 SH SOLE 400,000
ENSCO INTERNATIONAL, I COM 26874Q100 12,760 209,150 SH SOLE 209,150
EOG RESOURCES INC. COM 26875P101 22,649 310,000 SH SOLE 310,000
EQUITABLE RESOURCES IN COM 294549100 22,302 450,000 SH SOLE 450,000
EXXON MOBIL CORP. COM 30231G102 104,431 1,245,000 SH SOLE 1,245,000
FLORIDA ROCK INDUSTRIE COM 341140101 7,087 105,000 SH SOLE 105,000
FOREST OIL CORP COM 346091705 1,564 37,000 SH SOLE 37,000
GENERAL ELECTRIC CO. COM 369604103 17,410 454,800 SH SOLE 454,800
GLOBALSANTAFE CORP. COM G3930E101 20,952 290,000 SH SOLE 290,000
GRANT PRIDECO INC COM 38821G101 16,580 308,000 SH SOLE 308,000
HERCULES OFFSHORE, INC COM 427093109 8,095 250,000 SH SOLE 250,000
HESS CORPORATION COM 42809H107 11,497 195,000 SH SOLE 195,000
MARATHON OIL CO. COM 565849106 14,390 240,000 SH SOLE 240,000
MDU RESOURCES GROUP, I COM 552690109 10,515 375,000 SH SOLE 375,000
MURPHY OIL CORP. COM 626717102 12,869 216,500 SH SOLE 216,500
NABORS INDUSTRIES, LTD COM G6359F103 17,358 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 8,662 200,000 SH SOLE 200,000
NEW JERSEY RESOURCES C COM 646025106 10,204 200,000 SH SOLE 200,000
NEWFIELD EXPLORATION C COM 651290108 7,971 175,000 SH SOLE 175,000
NOBLE CORP COM G65422100 19,504 200,000 SH SOLE 200,000
NOBLE ENERGY INC. COM 655044105 26,828 430,000 SH SOLE 430,000
OCCIDENTAL PETROLEUM C COM 674599105 23,152 400,000 SH SOLE 400,000
QUESTAR CORP COM 748356102 19,026 360,000 SH SOLE 360,000
ROHM & HAAS CO. COM 775371107 10,936 200,000 SH SOLE 200,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 21,518 265,000 SH SOLE 265,000
SCHLUMBERGER LTD COM 806857108 47,566 560,000 SH SOLE 560,000
SEMCO ENERGY INC. COM 78412D109 5,208 670,300 SH SOLE 670,300
SPECTRA ENERGY CORP. COM 847560109 2,825 108,812 SH SOLE 108,812
SUNCOR ENERGY COM 867229106 8,992 100,000 SH SOLE 100,000
TODCO COM 88889T107 9,442 200,000 SH SOLE 200,000
TOTAL S.A. SPONSORED ADR89151E109 17,816 220,000 SH SOLE 220,000
VALERO ENERGY CORP. COM 91913Y100 31,390 425,000 SH SOLE 425,000
WEATHERFORD INT'L. LTD COM G95089101 27,264 493,560 SH SOLE 493,560
WILLIAMS COMPANIES, IN COM 969457100 14,229 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 23,439 390,000 SH SOLE 390,000
858,067