UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended September 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 October 24, 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: 40
Form 13F Information Table Value Total: $ 783,079
(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 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 7,876 115,000 SH SOLE 115,000
APACHE CORP. COM 037411105 20,856 200,000 SH SOLE 200,000
BAKER HUGHES, INC.. COM 057224107 12,411 205,000 SH SOLE 205,000
CHEVRON CORP. COM 166764100 75,469 915,000 SH SOLE 915,000
COMPLETE PRODUCTION SE COM 20453E109 8,062 400,500 SH SOLE 400,500
CONOCOPHILLIPS COM 20825C104 40,792 556,891 SH SOLE 556,891
CONSOL ENERGY INC. COM 20854P109 9,178 200,000 SH SOLE 200,000
DEVON ENERGY CORP. COM 25179M103 22,800 250,000 SH SOLE 250,000
DUPONT EI DE NEMOURS COM 263534109 6,347 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 13,584 300,000 SH SOLE 300,000
EOG RESOURCES INC. COM 26875P101 17,892 200,000 SH SOLE 200,000
EQUITABLE RESOURCES IN COM 294549100 14,628 398,800 SH SOLE 398,800
EXXON MOBIL CORP. COM 30231G102 96,687 1,245,000 SH SOLE 1,245,000
FOREST OIL CORP COM 346091705 3,446 69,477 SH SOLE 69,477
HALLIBURTON CO. COM 406216101 22,673 700,000 SH SOLE 700,000
HERCULES OFFSHORE, INC COM 427093109 8,919 588,300 SH SOLE 588,300
HESS CORPORATION COM 42809H107 16,006 195,000 SH SOLE 195,000
INTERNATIONAL COAL GRO COM 45928H106 18,720 3,000,000 SH SOLE 3,000,000
MARATHON OIL CO. COM 565849106 9,569 240,000 SH SOLE 240,000
MASSEY ENERGY CO. COM 576206106 8,233 230,808 SH SOLE 230,808
MDU RESOURCES GROUP, I COM 552690109 10,875 375,000 SH SOLE 375,000
MURPHY OIL CORP. COM 626717102 17,093 266,500 SH SOLE 266,500
NABORS INDUSTRIES, LTD SHS G6359F103 12,958 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 8,436 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 6,959 138,538 SH SOLE 138,538
NEW JERSEY RESOURCES C COM 646025106 10,767 300,000 SH SOLE 300,000
NOBLE CORP SHS G65422100 26,340 600,000 SH SOLE 600,000
NOBLE ENERGY INC. COM 655044105 18,901 340,000 SH SOLE 340,000
NORTHEAST UTILITIES COM 664397106 5,130 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM C COM 674599105 28,180 400,000 SH SOLE 400,000
QUESTAR CORP COM 748356102 9,821 240,000 SH SOLE 240,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 15,638 265,000 SH SOLE 265,000
SCHLUMBERGER LTD COM 806857108 54,663 700,000 SH SOLE 700,000
SPECTRA ENERGY CORP. COM 847560109 2,590 108,812 SH SOLE 108,812
SUNCOR ENERGY COM 867229106 12,642 300,000 SH SOLE 300,000
TOTAL S.A. SPONSORED ADR89151E109 23,665 390,000 SH SOLE 390,000
TRANSOCEAN INC SHS G90073100 26,137 237,953 SH SOLE 237,953
WEATHERFORD INT'L. LTD COM G95089101 24,816 987,120 SH SOLE 987,120
WILLIAMS COMPANIES, IN COM 969457100 10,642 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 22,678 487,500 SH SOLE 487,500
783,079