<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2000
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: 28-293_________
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. Griffith____________________
Title: Assistant Treasurer______________________
Phone: (410)752-5900____________________________
Signature, Place, and Date of Signing:
__(signed) Christine M. Griffith Baltimore, MD_ July 21, 2000
[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).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-____________ ________________________________
[Repeat as necessary.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: ______________
Form 13F Information Table Entry Total: ____76_________
Form 13F Information Table Value Total: $__611________
(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 13F File Number Name
____ 28-____________ ________________________
[Repeat as necessary.
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FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COL. 6 COLUMN 7 COLUMN 8
------------------------------- ------------- ---------- -------- ------------------ ------- -------- ----------------------
VALUE INVSTMT OTHER
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) DSCRETN MANAGERS
<S> <C> <C> <C> <C> <C>
SHARES/ SH/P PUT/ VOTING AUTHORITY
PRN AMT RN CALL
<C> <C> <C>
SOLE SHARED NONE
<C> <C> <C>
AMERADA HESS CORP. COM 023551104 6,175 100,000 SH SOLE 100,000
ANADARKO PETROLEUM COM 032511107 9,616 195,000 SH SOLE 195,000
ANADARKO PETROLEUM PUT 032511957 493 10,000 PUT
APACHE CORPORATION COM 037411105 7,646 130,000 SH SOLE 130,000
ATMOS ENERGY CORP COM 049560105 3,500 200,000 SH SOLE 200,000
AVERY DENNISON CORP. COM 053611109 1,786 26,600 SH SOLE 26,600
BJ SERVICES CO. COM 055482103 12,500 200,000 SH SOLE 200,000
BP AMOCO PLC ADRS 055622104 27,263 482,000 SH SOLE 482,000
BOISE CASCADE CORP. COM 097383103 5,304 205,000 SH SOLE 205,000
CALPINE CORP. COM 131347106 5,260 80,000 SH SOLE 80,000
CALPINE CORP. CALL 131347906 1,315 20,000 CALL
CALPINE CAP. TRST 5.75% TIDES PFD 131346207 10,391 87,500 SH SOLE 87,500
CHEVRON CORP COM 166751107 12,721 150,000 SH SOLE 150,000
COASTAL CORP COM 190441105 13,392 220,000 SH SOLE 220,000
COLUMBIA ENERGY GROUP COM 197648108 6,562 100,000 SH SOLE 100,000
CONOCO INC, CLASS B COM 208251405 7,369 300,000 SH SOLE 300,000
CORE LABORATORIES N.V. COM N22717107 4,495 155,000 SH SOLE 155,000
CORE LABORATORIES N.V. PUT N22717957 290 10,000 PUT
DEVON ENERGY CORP. COM 25179M103 6,743 120,000 SH SOLE 120,000
DEVON ENERGY CORP. PUT 25179M953 562 10,000 PUT
DIAMOND OFFSHORE DRILLING, INC. COM 25271C102 3,400 96,800 SH SOLE 96,800
DOVER CORP. COM 260003108 5,679 140,000 SH SOLE 140,000
DYNEGY, INC. CLASS A COM 26816Q101 6,831 100,000 SH SOLE 100,000
DYNEGY, INC. CLASS A PUT 16816Q951 1,366 20,000 PUT
EOG RESOURCES INC. COM 26875P101 9,715 290,000 SH SOLE 290,000
EL PASO ENERGY CORP. COM 283905107 5,603 110,000 SH SOLE 110,000
ENERGEN CORP COM 29265N108 7,719 353,900 SH SOLE 353,900
ENGELHARD CORP. COM 292845104 4,266 250,000 SH SOLE 250,000
ENRON CORP. $27.30 CUM CV SER J PFD 293561601 40,500 23,000 SH SOLE 23,000
ENSCO INTERNATIONAL, INC. COM 26874Q100 4,297 120,000 SH SOLE 120,000
EQUITABLE RESOURCES COM 294549100 8,709 180,500 SH SOLE 180,500
EXXON MOBIL CORP COM 30231G102 47,668 607,231 SH SOLE 607,231
FORT JAMES CORP COM 347471104 6,244 270,000 SH SOLE 270,000
FREEPORT MCMORAN COP.& GOLD A COM 35671D105 1,164 127,603 SH SOLE 127,603
GENERAL ELECTRIC CO. COM 369604103 30,210 570,000 SH SOLE 570,000
GLOBAL INDUSTRIES LTD COM 379336100 4,594 243,400 SH SOLE 243,400
GRANT PRIDECO INC. COM 38821G101 3,475 139,000 SH SOLE 139,000
HALLIBURTON CO. COM 406216101 7,078 150,000 SH SOLE 150,000
HALLIBURTON CO. PUT 406216951 944 20,000 PUT
KINDER MORGAN 8.25% PEPS 482620507 6,175 130,000 SH SOLE 130,000
KERR MCGEE CORP COM 492386107 10,683 181,253 SH SOLE 181,253
MEAD CORP COM 582834107 5,302 210,000 SH SOLE 210,000
MURPHY OIL CORP. COM 626717102 6,538 110,000 SH SOLE 110,000
NABORS INDUSTRIES, INC. COM 629568106 10,183 245,000 SH SOLE 245,000
NABORS INDUSTRIES, INC. PUT 629568956 416 10,000 PUT
NATIONAL FUEL GAS CO. COM 636180101 4,875 100,000 SH SOLE 100,000
NEW JERSEY RESOURCES COM 646025106 7,042 185,000 SH SOLE 185,000
NEWPARK RESOURCES INC. COM 651718504 3,492 370,000 SH SOLE 370,000
NOBLE AFFILIATES INC. COM 654894104 3,422 91,855 SH SOLE 91,855
NORTHWESTERN CORP. COM 668074108 4,625 200,000 SH SOLE 200,000
OCCIDENTAL PETROLEUM COM 674599105 3,686 175,000 SH SOLE 175,000
OCEAN ENERGY, INC. COM 674812201 7,803 550,000 SH SOLE 550,000
PETROLEUM GEO-SVCS A/S COM 716597109 4,266 250,000 SH SOLE 250,000
PHILLIPS PETROLEUM CO COM 718507106 3,041 60,000 SH SOLE 60,000
QUESTAR CORP. COM 748356102 5,192 268,000 SH SOLE 268,000
ROYAL DUTCH PETROLEUM $1.25 GLD 780257804 52,328 850,000 SH SOLE 850,000
SANTA FE INTL. CORP. COM G7805C108 6,289 180,000 SH SOLE 180,000
SCHLUMBERGER, LTD. COM 806857108 17,119 229,400 SH SOLE 229,400
SHELL TRANSPORT & TRADING ADRS 822703609 11,985 240,000 SH SOLE 240,000
SOUTHDOWN, INC COM 841297104 5,775 100,000 SH SOLE 100,000
STONE ENERGY CORP. COM 861642106 6,232 104,300 SH SOLE 104,300
TEMPLE-INLAND, INC. COM 879868107 5,040 120,000 SH SOLE 120,000
TESORO PETROLEUM CORP. COM 881609101 3,037 300,000 SH SOLE 300,000
TEXACO, INC. COM 881694103 9,946 186,775 SH SOLE 186,775
TEXACO, INC. PUT 881694953 532 10,000 PUT
TOSCO CORP. COM 891490302 4,955 175,000 SH SOLE 175,000
TOTALFINA ELF SA ADR 89151E109 9,602 125,000 SH SOLE 125,000
TRANSOCEAN SEDCO FOREX INC. COM G90078109 14,664 274,411 SH SOLE 274,411
UNION PACIFIC RESOURCES COM 907834105 4,968 225,816 SH SOLE 225,816
UNOCAL CAPITAL TRUST $3.125 CV COM 91528T207 3,373 72,540 SH SOLE 72,540
UNOCAL CORP COM 985289102 4,969 150,000 SH SOLE 150,000
VALERO ENERGY CORP. COM 91913Y100 3,969 125,000 SH SOLE 125,000
WEATHERFORD INTL. INC COM 947074100 7,564 190,000 SH SOLE 190,000
WEATHERFORD INTL. INC PUT 947074950 398 10,000 PUT
WILLIAMS COMPANIES INC. COM 969457100 8,337 200,000 SH SOLE 200,000
WILLIAMS COMPANIES INC. PUT 969457950 417 10,000 PUT
$611,085
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