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, 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:
/s/ Christine M. Sloan Baltimore, MD February 12, 2009
[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).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 36
Form 13F Information Table Value Total: $ 473,387
(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 6 COLUMN 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
APACHE CORP. COM 037411105 14,906 200,000 SH SOLE 200,000
BAKER HUGHES, INC.. COM 057224107 6,574 205,000 SH SOLE 205,000
CHEVRON CORP. COM 166764100 67,682 915,000 SH SOLE 915,000
COMPLETE PRODUCTION SE COM 20453E109 3,264 400,500 SH SOLE 400,500
CONOCOPHILLIPS COM 20825C104 21,336 411,891 SH SOLE 411,891
CONSOL ENERGY INC. COM 20854P109 3,572 125,000 SH SOLE 125,000
DEVON ENERGY CORP. COM 25179M103 16,428 250,000 SH SOLE 250,000
DUPONT EI DE NEMOURS COM 263534109 3,985 157,500 SH SOLE 157,500
ENERGEN CORP. COM 29265N108 8,799 300,000 SH SOLE 300,000
EOG RESOURCES INC. COM 26875P101 13,316 200,000 SH SOLE 200,000
EQUITABLE RESOURCES IN COM 294549100 13,380 398,800 SH SOLE 398,800
EXXON MOBIL CORP. COM 30231G102 71,448 895,000 SH SOLE 895,000
FOREST OIL CORP COM 346091705 1,146 69,477 SH SOLE 69,477
HALLIBURTON CO. COM 406216101 12,726 700,000 SH SOLE 700,000
HERCULES OFFSHORE, INC COM 427093109 2,375 500,000 SH SOLE 500,000
HESS CORPORATION COM 42809H107 10,460 195,000 SH SOLE 195,000
INTERNATIONAL COAL GRO COM 45928H106 6,900 3,000,000 SH SOLE 3,000,000
MASSEY ENERGY CO. COM 576206106 2,482 180,000 SH SOLE 180,000
MDU RESOURCES GROUP, I COM 552690109 8,092 375,000 SH SOLE 375,000
NABORS INDUSTRIES, LTD SHS G6359F103 6,224 520,000 SH SOLE 520,000
NATIONAL FUEL GAS CO. COM 636180101 6,266 200,000 SH SOLE 200,000
NATIONAL OILWELL VARCO COM 637071101 3,386 138,538 SH SOLE 138,538
NEW JERSEY RESOURCES C COM 646025106 11,805 300,000 SH SOLE 300,000
NOBLE CORP SHS G65422100 17,120 775,000 SH SOLE 775,000
NOBLE ENERGY INC. COM 655044105 16,735 340,000 SH SOLE 340,000
NORTHEAST UTILITIES COM 664397106 4,812 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM C COM 674599105 23,996 400,000 SH SOLE 400,000
QUESTAR CORP COM 748356102 7,846 240,000 SH SOLE 240,000
ROYAL DUTCH SHELL PLC-SPONSORED ADRA780259206 14,029 265,000 SH SOLE 265,000
SCHLUMBERGER LTD COM 806857108 10,582 250,000 SH SOLE 250,000
SPECTRA ENERGY CORP. COM 847560109 1,713 108,812 SH SOLE 108,812
TOTAL S.A. SPONSORED ADR89151E109 11,060 200,000 SH SOLE 200,000
TRANSOCEAN LTD SHS H8817H100 14,551 307,953 SH SOLE 307,953
WEATHERFORD INT'L. LTD COM G95089101 10,681 987,120 SH SOLE 987,120
WILLIAMS COMPANIES, IN COM 969457100 6,516 450,000 SH SOLE 450,000
XTO ENERGY COM 98385X106 17,194 487,500 SH SOLE 487,500
473,387