FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-02736
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PETROLEUM & RESOURCES CORPORATION
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(Exact name of registrant as specified in charter)
7 Saint Paul Street, Suite 1140, Baltimore, Maryland 21202
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(Address of principal executive offices)
Lawrence L. Hooper, Jr.
Petroleum & Resources Corporation
7 Saint Paul Street, Suite 1140
Baltimore, Maryland 21202
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(Name and address of agent for service)
Registrant's telephone number, including area code: (410) 752-5900
Date of fiscal year end: December 31, 2009
Date of reporting period: July 1, 2008 - June 30, 2009
Item 1. Proxy Voting Record
Description |
Proposal |
Voted |
Vote |
For/ |
Issuer: Apache Corporation |
||||
Ticker: APA |
||||
CUSIP: 037411-10-5 |
||||
Meeting Date: 05/07/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Issuer: Baker Hughes Incorporated |
||||
Ticker: BHI |
||||
CUSIP: 057224-10-7 |
||||
Meeting Date: 04/23/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Employee Stock Purchase Plan |
MGMT |
YES |
FOR |
FOR |
Special Shareholder Meetings |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Chevron Corporation |
||||
Ticker: CVX |
||||
CUSIP: 166764-10-0 |
||||
Meeting Date: 05/27/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL- DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Material Terms of Performance Goals for Chevron Incentive Plan |
MGMT |
YES |
FOR |
FOR |
Material Terms of Performance Goals for Chevron Long Term Incentive Plan |
MGMT |
YES |
FOR |
FOR |
Special Stockholder Meetings |
SHLDR |
YES |
AGNST |
FOR |
Advisory Vote on Summary Compensation Table |
SHLDR |
YES |
AGNST |
FOR |
Greenhouse Gas Emissions |
SHLDR |
YES |
AGNST |
FOR |
Country Selection Guidelines |
SHLDR |
YES |
AGNST |
FOR |
Human Rights Policy |
SHLDR |
YES |
AGNST |
FOR |
Host Country Laws |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Complete Production Services, Inc. |
||||
Ticker: CPX |
||||
CUSIP: 20453E-10-9 |
||||
Meeting Date: 05/21/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL- DIRS |
FOR |
Incentive Award Program |
MGMT |
YES |
AGNST |
AGNST |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: ConocoPhillips |
||||
Ticker: COP |
||||
CUSIP: 20825C-10-4 |
||||
Meeting Date: 05/13/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Omnibus Stock and Performance Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Universal Health Care Principles |
SHLDR |
YES |
AGNST |
FOR |
Advisory Vote on Executive Compensation |
SHLDR |
YES |
AGNST |
FOR |
Political Contributions |
SHLDR |
YES |
AGNST |
FOR |
Greenhouse Gas Reduction |
SHLDR |
YES |
AGNST |
FOR |
Oil Sands Drilling |
SHLDR |
YES |
AGNST |
FOR |
Director Qualifications |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Consol Energy Inc. |
||||
Ticker: CNX |
||||
CUSIP: 20854P-10-9 |
||||
Meeting Date: 04/28/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Equity Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Majority Voting |
SHLDR |
YES |
AGNST |
FOR |
Early Disclosure of Voting Results on Shareholder Proposals |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Devon Energy Corporation |
||||
Ticker: DVN |
||||
CUSIP: 25179M-10-3 |
||||
Meeting Date: 06/03/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Adoption of 2009 Long Term Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Adopt Director Election Majority Vote Standard |
SHLDR |
YES |
AGNST |
FOR |
Issuer: E. I. du Pont de Nemours and Company |
||||
Ticker: DD |
||||
CUSIP: 263534-10-9 |
||||
Meeting Date: 04/29/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Shareholder Say on Executive Pay |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Energen Corporation |
||||
Ticker: EGN |
||||
CUSIP: 29265N-10-8 |
||||
Meeting Date: 04/22/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: EOG Resources, Inc. |
||||
Ticker: EOG |
||||
CUSIP: 26875P-10-1 |
||||
Meeting Date: 04/29/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: EQT Corporation |
||||
Ticker: EQT |
||||
CUSIP: 26884L-10-9 |
||||
Meeting Date: 04/22/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Approve 2009 Long Term Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Approve 2008 Employee Stock Purchase Plan |
MGMT |
YES |
FOR |
FOR |
Issuer: Exxon Mobil Corporation |
||||
Ticker: XOM |
||||
CUSIP: 30231G-10-2 |
||||
Meeting Date: 05/27/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Cumulative Voting |
SHLDR |
YES |
AGNST |
FOR |
Special Shareholder Meetings |
SHLDR |
YES |
AGNST |
FOR |
Incorporate in North Dakota |
SHLDR |
YES |
AGNST |
FOR |
Board Chairman and CEO |
SHLDR |
YES |
AGNST |
FOR |
Shareholder Vote on Executive Compensation |
SHLDR |
YES |
AGNST |
FOR |
Executive Compensation Report |
SHLDR |
YES |
AGNST |
FOR |
Corporate Sponsorships Report |
SHLDR |
YES |
AGNST |
FOR |
Amendment of EEO Policy |
SHLDR |
YES |
AGNST |
FOR |
Greenhouse Gas Emissions Goals |
SHLDR |
YES |
AGNST |
FOR |
Climate Change and Technology Report |
SHLDR |
YES |
AGNST |
FOR |
Renewable Energy Policy |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Forest Oil Corporation |
||||
Ticker: FST |
||||
CUSIP: 346091-70-5 |
||||
Meeting Date: 5/12/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Approval of Additional 500,000 shares for issuance under 1999 Employee Stock Plan |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Halliburton |
||||
Ticker: HAL |
||||
CUSIP: 406216-10-1 |
||||
Meeting Date: 05/20/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Amend Stock and Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Amend Employee Stock Purchase Plan |
SHLDR |
YES |
AGNST |
FOR |
Human Rights Policy |
SHLDR |
YES |
AGNST |
FOR |
Political Contributions |
SHLDR |
YES |
AGNST |
FOR |
Low Carbon Energy Report |
SHLDR |
YES |
AGNST |
FOR |
Additional Compensation Discussion and Analysis Disclosure |
SHLDR |
YES |
AGNST |
FOR |
Special Shareowner Meetings |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Hercules Offshore, Inc. |
||||
Ticker: HERO |
||||
CUSIP: 427093-10-9 |
||||
Meeting Date: 04/23/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Hess Corporation |
||||
Ticker: HES |
||||
CUSIP: 023551-10-4 |
||||
Meeting Date: 05/06/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
International Coal Group, Inc. |
||||
Ticker: ICG |
||||
CUSIP: 45928H-10-6 |
||||
Meeting Date: 05/20/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Equity Incentive Plan |
MGMT |
YES |
AGNST |
AGNST |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Global Warming |
SHLDR |
YES |
AGNST |
FOR |
Other Business |
MGMT |
YES |
FOR |
FOR |
Issuer: Massey Energy Company |
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Ticker: MDU |
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CUSIP: 576206-10-6 |
||||
Meeting Date: 05/19/2009 |
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Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Amend Stock Plan |
MGMT |
YES |
FOR |
FOR |
Environmental Progress Report |
SHLDR |
YES |
AGNST |
FOR |
Carbon Dioxide Emissions Report |
SHLDR |
YES |
AGNST |
FOR |
Expedited Disclosure of Voting Results |
SHLDR |
YES |
AGNST |
FOR |
Issuer: MDU Resources Group, Inc. |
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Ticker: MDU |
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CUSIP: 552690-10-9 |
||||
Meeting Date: 04/28/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Nabors Industries Ltd. |
||||
Ticker: NBR |
||||
CUSIP: G6359F-10-3 |
||||
Meeting Date: 06/02/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Adopt Pay for Superior Performance Standard |
SHLDR |
YES |
AGNST |
FOR |
Payments Following Death of Senior Executive |
SHLDR |
YES |
AGNST |
FOR |
Issuer: National Fuel Gas Company |
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Ticker: NFG |
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CUSIP: 636180-10-1 |
||||
Meeting Date: 3/12/2009 |
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Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
2009 Non-Employee Director Compensation Plan |
MGMT |
YES |
FOR |
FOR |
Issuer: National Oilwell Varco, Inc. |
||||
Ticker: NOV |
||||
CUSIP: 637071-10-1 |
||||
Meeting Date: 05/13/2009 |
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Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Amendment to Long-Term Incentive Plan |
MGMT |
YES |
FOR |
FOR |
Issuer: New Jersey Resources Corporation |
||||
Ticker: NJR |
||||
CUSIP: 646025-10-6 |
||||
Meeting Date: 01/21/2009 |
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Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Noble Corporation |
||||
Ticker: NE |
||||
CUSIP: G65422-10-0 |
||||
Meeting Date: 3/17/2009 |
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Merger, reorganization and consolidation |
MGMT |
YES |
FOR |
FOR |
Adjourn Meeting |
MGMT |
YES |
FOR |
FOR |
Issuer: Noble Corporation |
||||
Ticker: NE |
||||
CUSIP: G65422-10-0 |
||||
Meeting Date: 05/28/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Dividend Payment |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Increase Authorized Shares |
MGMT |
YES |
FOR |
FOR |
Issuer: Noble Energy, Inc. |
||||
Ticker: NBL |
||||
CUSIP: 655044-10-5 |
||||
Meeting Date: 04/28/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Amend Stock Option Plan |
MGMT |
YES |
AGNST |
AGNST |
Issuer: Northeast Utilities |
||||
Ticker: NU |
||||
CUSIP: 664397-10-6 |
||||
Meeting Date: 05/12/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Northwest Natural Gas |
||||
Ticker: NWN |
||||
CUSIP: 667655-10-4 |
||||
Meeting Date: 05/28/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Occidental Petroleum Corporation |
||||
Ticker: OXY |
||||
CUSIP: 674599-10-5 |
||||
Meeting Date: 05/01/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Permit stockholders to call special meetings |
MGMT |
YES |
FOR |
FOR |
Report on assessment of host country laws |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Questar Corporation |
||||
Ticker: STR |
||||
CUSIP: 748356-10-2 |
||||
Meeting Date: 05/19/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Eliminate Classified Board Structure and Remove Requirement of 13 Directors |
MGMT |
YES |
FOR |
FOR |
Amend Articles of Incorporation to Remove Outdated Reference and Clarify Director Liability |
MGMT |
YES |
FOR |
FOR |
Increase Authorized Shares |
MGMT |
YES |
FOR |
FOR |
Eliminate Limit on Issuance of Preferred Stock |
MGMT |
YES |
FOR |
FOR |
Performance Metrics and Amendments to Long Term Cash Incentive Plan |
MGMT |
YES |
FOR |
FOR |
Majority Voting Standard |
SHLDR |
YES |
AGNST |
FOR |
Advisory Vote on Executive Compensation |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Royal Dutch Shell plc |
||||
Ticker: RD |
||||
CUSIP: 780257-80-4 |
||||
Meeting Date: 05/19/2009 |
||||
Adoption of Annual Report and Accounts |
MGMT |
YES |
FOR |
FOR |
Approval of Remuneration Report |
MGMT |
YES |
FOR |
FOR |
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Remuneration of Auditors |
MGMT |
YES |
FOR |
FOR |
Authority to Allot Shares |
MGMT |
YES |
FOR |
FOR |
Disapplication of Pre-emption Rights |
MGMT |
YES |
FOR |
FOR |
Repurchase Shares |
MGMT |
YES |
FOR |
FOR |
Authority for Donations and Expenditures |
MGMT |
YES |
FOR |
FOR |
Issuer: Schlumberger |
||||
Ticker: SLB |
||||
CUSIP: 806857-10-8 |
||||
Meeting Date: 05/07/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Adopt and approve financials and dividends |
MGMT |
YES |
FOR |
FOR |
Executive Officer Compensation |
SHLDR |
YES |
AGNST |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Southwest Gas Corporation |
||||
Ticker: SWX |
||||
CUSIP: 844895-10-2 |
||||
Meeting Date: 05/07/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Approve Continuation of the Amended and Restated Management Incentive Plan |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Spectra Energy Corporation |
||||
Ticker: SE |
||||
CUSIP: 847560-10-9 |
||||
Meeting Date: 05/07/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Eliminate Classified Structure of the Board |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: Total S.A. |
||||
Ticker: TOT |
||||
CUSIP: 89151E-10-9 |
||||
Meeting Date: 05/15/2009 |
||||
Approval of Financial Statements and Dividend |
MGMT |
YES |
FOR ALL-DIRS |
FOR |
Approval of Auditors Reports |
MGMT |
YES |
FOR |
FOR |
Election of Directors |
MGMT |
YES |
FOR |
FOR |
Age Limit for Chairman of the Board |
MGMT |
YES |
FOR |
FOR |
Disclosure of Allocations of Stock Options and Restricted Shares |
SHLDR |
YES |
AGNST |
FOR |
New Procedure for Selecting Shareholder-Employee as Board Member |
SHLDR |
YES |
AGNST |
FOR |
Authorization to Grant Restricted Shares to All Employees |
SHLDR |
YES |
AGNST |
FOR |
Issuer: Transocean, Inc. |
||||
Ticker: RIG |
||||
CUSIP: G90073-10-0 |
||||
Meeting Date: 12/08/2008 |
||||
Approver merger by way of schemes of arrangement (change place of incorporation from Cayman Islands to Switzerland) |
MGMT |
YES |
FOR |
FOR |
Adjourn Meeting |
MGMT |
YES |
FOR |
FOR |
Issuer: Transocean, Inc. |
||||
Ticker: RIG |
||||
CUSIP: G90073-10-0 |
||||
Meeting Date: 5/15/2009 |
||||
Approval of Annual Report & Financial Statements |
MGMT |
NO |
||
Discharge Members of the Board and Executive Officers |
MGMT |
NO |
||
Appropriation of Earnings without payment of dividend; release of legal reserves |
MGMT |
NO |
||
Share Repurchase |
MGMT |
NO |
||
Approval of Long-Term Incentive Plan |
MGMT |
NO |
||
Election of Directors |
MGMT |
NO |
||
Ratification of appt. of Ind. Auditors |
MGMT |
NO |
||
Issuer: Weatherford International LTD. |
||||
Ticker: WFT |
||||
CUSIP: G95089-10-1 |
||||
Meeting Date: 02/17/2009 |
||||
Approval of Scheme of Arrangement |
MGMT |
YES |
FOR |
FOR |
Approval to Adjourn Meeting |
MGMT |
YES |
FOR |
FOR |
Issuer: Weatherford International LTD. (annual mtg) |
||||
Ticker: WFT |
||||
CUSIP: G95089-10-1 |
||||
Meeting Date: 5/7/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL- DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Issuer: The Williams Companies, Inc. |
||||
Ticker: WMB |
||||
CUSIP: 969457-10-0 |
||||
Meeting Date: 05/21/2009 |
||||
Election of Directors |
MGMT |
YES |
FOR ALL- DIRS |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
End Staggered Board |
SHLDR |
YES |
FOR |
AGNST |
Issuer: XTO Energy Inc. |
||||
Ticker: XTO |
||||
CUSIP: 98385X-10-6 |
||||
Meeting Date: 05/19/2009 |
||||
Annual Election of Directors |
MGMT |
YES |
FOR ALL- DIRS |
FOR |
Election of Directors |
MGMT |
YES |
FOR |
FOR |
Executive Compensation Plan |
MGMT |
YES |
FOR |
FOR |
Ratification of appt. of Ind. Auditors |
MGMT |
YES |
FOR |
FOR |
Advisory Vote on Executive Compensation |
SHLDR |
YES |
AGNST |
FOR |
Executive Benefits Payable Upon Death |
SHLDR |
YES |
AGNST |
FOR |
SIGNATURES:
Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
PETROLEUM & RESOURCES CORPORATION
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(Registrant)
BY: |
/s/ Douglas G. Ober |
--------------------------------------------------- |
|
Douglas G. Ober |
|
Chief Executive Officer and President |
|
(Principal Executive Officer) |
|
DATE: |
July 16, 2009 |