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, 2008
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 22, 2008
[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: 41
Form 13F Information Table Value Total: $ 1,135,810
(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>
AIR PRODUCTS & CHEMICA COM 009158106 11,369 115,000 SH SOLE 115,000
APACHE CORP. COM 037411105 27,800 200,000 SH SOLE 200,000
BAKER HUGHES, INC.. COM 057224107 17,905 205,000 SH SOLE 205,000
CHEVRON CORP. COM 166764100 90,704 915,000 SH SOLE 915,000
COMPLETE PRODUCTION SE COM 20453E109 14,586 400,500 SH SOLE 400,500
CONOCOPHILLIPS COM 20825C104 52,565 556,891 SH SOLE 556,891
DEVON ENERGY CORP. COM 25179M103 37,250 310,000 SH SOLE 310,000
DUPONT EI DE NEMOURS COM 263534109 6,755 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 27,310 350,000 SH SOLE 350,000
EOG RESOURCES INC. COM 26875P101 26,240 200,000 SH SOLE 200,000
EQUITABLE RESOURCES IN COM 294549100 30,386 440,000 SH SOLE 440,000
EXXON MOBIL CORP. COM 30231G102 109,722 1,245,000 SH SOLE 1,245,000
FOREST OIL CORP COM 346091705 2,756 37,000 SH SOLE 37,000
HALLIBURTON CO. COM 406216101 31,842 600,000 SH SOLE 600,000
HERCULES OFFSHORE, INC COM 427093109 22,812 600,000 SH SOLE 600,000
HESS CORPORATION COM 42809H107 24,607 195,000 SH SOLE 195,000
INTERNATIONAL COAL GRO COM 45928H106 39,150 3,000,000 SH SOLE 3,000,000
LUBRIZOL CORP COM 549271104 6,255 135,000 SH SOLE 135,000
MARATHON OIL CO. COM 565849106 12,449 240,000 SH SOLE 240,000
MASSEY ENERGY CO. COM 576206106 21,638 230,808 SH SOLE 230,808
MDU RESOURCES GROUP, I COM 552690109 13,072 375,000 SH SOLE 375,000
MURPHY OIL CORP. COM 626717102 21,228 216,500 SH SOLE 216,500
NABORS INDUSTRIES, LTD SHS G6359F103 25,600 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 11,896 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 12,291 138,538 SH SOLE 138,538
NEW JERSEY RESOURCES C COM 646025106 9,795 300,000 SH SOLE 300,000
NOBLE CORP SHS G65422100 38,976 600,000 SH SOLE 600,000
NOBLE ENERGY INC. COM 655044105 34,190 340,000 SH SOLE 340,000
NORTHEAST UTILITIES COM 664397106 5,106 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM C COM 674599105 35,944 400,000 SH SOLE 400,000
QUESTAR CORP COM 748356102 21,312 300,000 SH SOLE 300,000
ROHM & HAAS CO. COM 775371107 6,037 130,000 SH SOLE 130,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 21,653 265,000 SH SOLE 265,000
SCHLUMBERGER LTD COM 806857108 75,201 700,000 SH SOLE 700,000
SPECTRA ENERGY CORP. COM 847560109 3,127 108,812 SH SOLE 108,812
SUNCOR ENERGY COM 867229106 16,274 280,000 SH SOLE 280,000
TOTAL S.A. SPONSORED ADR89151E109 33,255 390,000 SH SOLE 390,000
TRANSOCEAN INC SHS G90073100 36,262 237,953 SH SOLE 237,953
WEATHERFORD INT'L. LTD COM G95089101 48,951 987,120 SH SOLE 987,120
WILLIAMS COMPANIES, IN COM 969457100 18,140 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 33,399 487,500 SH SOLE 487,500
1,135,810