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, 2011 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 July 22, 2011 [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 reporting manager(s).) [ ] 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: 47 Form 13F Information Table Value Total: $810,247 (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 CUSIP VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY OF CLASS (x $1000) PRN AMT PRN CALL DISCRETN MANAGER SOLE SHARED NONE AIR PRODUCTS & CHEMICALS COM 009158106 9,558 100,000 SH SOLE 100,000 ALPHA NATURAL RESOURCES COM 02076X102 4,658 102,500 SH SOLE 102,500 ANADARKO PETROLEUM CORP. COM 032511107 12,665 165,000 SH SOLE 165,000 APACHE CORP. COM 037411105 18,508 150,000 SH SOLE 150,000 BAKER HUGHES, INC. COM 057224107 11,972 165,000 SH SOLE 165,000 CF INDUSTRIES HOLDINGS, COM 125269100 9,927 70,069 SH SOLE 70,069 CHEVRON CORP. COM 166764100 96,670 940,000 SH SOLE 940,000 CLIFFS NATURAL RESOURCES COM 18683K101 17,566 190,000 SH SOLE 190,000 CONOCOPHILLIPS COM 20825C104 26,316 350,000 SH SOLE 350,000 CONSOL ENERGY INC. COM 20854P109 2,245 46,300 SH SOLE 46,300 DEVON ENERGY CORP. COM 25179M103 8,669 110,000 SH SOLE 110,000 DOW CHEMICAL CO. COM 260543103 21,600 600,000 SH SOLE 600,000 ENERGEN CORP. COM 29265N108 10,452 185,000 SH SOLE 185,000 EOG RESOURCES INC. COM 26875P101 12,546 120,000 SH SOLE 120,000 EQT CORP. COM 26884L109 8,403 160,000 SH SOLE 160,000 EXXON MOBIL CORP. COM 30231G102 110,549 1,358,430 SH SOLE 1,358,430 FMC CORP. COM 302491303 11,183 130,000 SH SOLE 130,000 FOREST OIL CORP. COM 346091705 5,342 200,000 SH SOLE 200,000 FREEPORT-MCMORAN COPPER COM 35671D857 27,243 515,000 SH SOLE 515,000 HALLIBURTON CO. COM 406216101 26,775 525,000 SH SOLE 525,000 HESS CORP. COM 42809H107 18,690 250,000 SH SOLE 250,000 KINDER MORGAN INC COM 49456B101 4,453 155,000 SH SOLE 155,000 MARATHON OIL CO. COM 565849106 4,214 80,000 SH SOLE 80,000 MDU RESOURCES GROUP, INC. COM 552690109 7,186 319,400 SH SOLE 319,400 NABORS INDUSTRIES, LTD SHS G6359F103 6,012 244,000 SH SOLE 244,000 NATIONAL FUEL GAS CO. COM 636180101 12,740 175,000 SH SOLE 175,000 NATIONAL OILWELL VARCO COM 637071101 19,553 250,000 SH SOLE 250,000 NEW JERSEY RESOURCES COM 646025106 12,491 280,000 SH SOLE 280,000 NEWFIELD EXPLORATION COM 651290108 5,442 80,000 SH SOLE 80,000 NOBLE ENERGY INC. COM 655044105 20,167 225,000 SH SOLE 225,000 NORTHEAST UTILITIES COM 664397106 7,034 200,000 SH SOLE 200,000 OASIS PETROLEUM, INC. COM 674215108 4,452 150,000 SH SOLE 150,000 OCCIDENTAL PETROLEUM COM 674599105 36,414 350,000 SH SOLE 350,000 PEABODY ENERGY CORP. COM 704549104 8,106 137,600 SH SOLE 137,600 PIONEER NATURAL COM 723787107 12,540 140,000 SH SOLE 140,000 POTASH CORP OF COM 73755L107 16,470 289,000 SH SOLE 289,000 PRAXAIR, INC. COM 74005P104 16,259 150,000 SH SOLE 150,000 QEP RESOURCES, INC COM 74733V100 8,366 200,000 SH SOLE 200,000 QUESTAR CORP COM 748356102 2,768 156,300 SH SOLE 156,300 ROYAL DUTCH SHELL SPONSORED ADR A 780259206 23,794 334,512 SH SOLE 334,512 SCHLUMBERGER LTD COM 806857108 49,680 575,000 SH SOLE 575,000 SOUTHWESTERN ENERGY COM 845467109 8,576 200,000 SH SOLE 200,000 SPECTRA ENERGY CORP. COM 847560109 5,724 208,812 SH SOLE 208,812 TECK RESOURCES LTD CL B 878742204 10,148 200,000 SH SOLE 200,000 TRANSOCEAN LTD. REG SHS H8817H100 14,071 217,953 SH SOLE 217,953 WEATHERFORD INT'L. LTD REG H27013103 8,437 450,000 SH SOLE 450,000 WILLIAMS COMPANIES, INC. COM 969457100 13,612 450,000 SH SOLE 450,000 810,247