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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000216851-07-000039.txt : 20070727
<SEC-HEADER>0000216851-07-000039.hdr.sgml : 20070727
<ACCEPTANCE-DATETIME>20070727145108
ACCESSION NUMBER:		0000216851-07-000039
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070727
ITEM INFORMATION:		Temporary Suspension of Trading Under Registrant's Employee Benefit Plans
FILED AS OF DATE:		20070727
DATE AS OF CHANGE:		20070727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETROLEUM & RESOURCES CORP
		CENTRAL INDEX KEY:			0000216851
		IRS NUMBER:				135506797
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-02736
		FILM NUMBER:		071006318

	BUSINESS ADDRESS:	
		STREET 1:		SEVEN ST PAUL ST
		STREET 2:		STE 1140
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4107525900

	MAIL ADDRESS:	
		STREET 1:		7 ST PAUL STREET
		STREET 2:		STE 1140
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>petro8k0707.htm
<TEXT>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY>

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<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=5>UNITED STATES <BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="5">SECURITIES AND
EXCHANGE COMMISSION<BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">Washington, DC 20549 <BR>_________________</FONT></H1>
<BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=5>FORM 8-K </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5">CURRENT REPORT <BR> </FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;<BR> </FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934 </FONT> </H1>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Date of report (Date
of earliest event reported):&nbsp;&nbsp;July&nbsp;27, 2007&nbsp;&nbsp;(July&nbsp;27, 2007)</B> </FONT></P>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>Petroleum &amp; Resources Corporation</B> </FONT>
<BR><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(Exact Name of
Registrant as Specified in Charter)</B> </FONT> </P>
<BR>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3> </FONT></H1>

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<A NAME=A009></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(Exact Name of
Registrant as Specified in Charter) </FONT></H1>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Maryland</B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(State or Other Jurisdiction<BR>of Incorporation) </FONT></TD>
<TD ALIGN=CENTER WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>811-02736</B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Commission <BR>File Number) </FONT></TD>
<TD ALIGN=CENTER WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>13-5506797</B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(IRS Employer<BR>Identification No.) </FONT></TD>
</TR>
</TABLE>
<BR><BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Seven St. Paul Street, Suite 1140<BR>
Baltimore, Maryland 21202</B> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Address of Principal
Executive Offices) (Zip Code)</FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>410-752-5900</B> </FONT>
<BR><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Registrant&#146;s
telephone number, including area code) </FONT></P>
<BR>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>



<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE>

<PAGE>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION TO BE
INCLUDED IN THE REPORT  </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item&nbsp;5.04.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Temporary Suspension of Trading under Registrant&#146;s Employee Benefit Plans. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
July 27, 2007, Petroleum &amp; Resources Corporation (&#147;Petroleum &amp;
Resources&#148;) sent a notice to its directors and executive officers informing them that
there would be a blackout period under the Petroleum &amp; Resources Employee Thrift Plan
(the &#147;Plan&#148;). The blackout period is expected to begin at 4 p.m. Eastern time on
August 27, 2007  and will remain paused until the week of September 16, 2007. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
blackout period is necessary in order to transfer our retirement plan services from Milliman Inc., the current Plan administrator, to the Principal Financial Group, the new Plan administrator. During the blackout period, the
directors and executive officers of Petroleum &amp; Resources will be prohibited from
directly or indirectly purchasing, selling or otherwise transferring equity securities of
Petroleum &amp; Resources. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
copy of the notice sent to directors and executive officers of Petroleum &amp; Resources
is attached hereto as Exhibit 99.1 and is incorporated herein by reference. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item&nbsp;9.01.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits. </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Exhibits.</FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 99.1</FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Notice to
Directors and Executive Officers of Petroleum &amp; Resources concerning
blackout periods under the Petroleum &amp; Resources Employee Thrift Plan. </FONT></TD>
</TR>
</TABLE>
<BR>

<BR><BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Page 2 of 3 Pages) </FONT></P>


<HR SIZE="1" ALIGN="Left">
<PAGE>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=CENTER WIDTH=45%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="Left" COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PETROLEUM &amp; RESOURCES CORPORATION<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Registrant)<BR><BR><BR></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By</FONT></TD>
<TD ALIGN="Left" COLSPAN="2"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ Maureen A. Jones</FONT></TD>
</TR>
<TR VALIGN="Top">
<TD ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="Left" COLSPAN="2"><HR SIZE="1" WIDTH="85%" ALIGN="Left" COLOR="Black"></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=CENTER WIDTH=45%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=CENTER WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name:<BR>Title:</FONT></TD>
<TD ALIGN="Left" WIDTH="43%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Maureen A. Jones<BR>
Vice President, Chief Financial Officer and Treasurer</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date:&nbsp;&nbsp;July 27, 2007 </FONT></P>
<BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Page 3 of 3 Pages) </FONT></P>

<HR SIZE="1" ALIGN="Left">

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1 CHARTER
<SEQUENCE>2
<FILENAME>petro8k0707ex991.htm
<TEXT>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY>

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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 99.1 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>Petroleum &amp; Resources Corporation</FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Seven St. Paul Street <BR>
Baltimore, Maryland 21202 </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(410) 752-5900 </FONT></H1>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 27, 2007</FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=LEFT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TO:</FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DIRECTORS AND
EXECUTIVE OFFICERS SUBJECT TO SECTION 16<BR><BR></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FROM:</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MAUREEN A. JONES<BR><BR></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUBJECT:</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BLACKOUT PERIOD
DURING THRIFT PLAN ADMINISTRATOR TRANSITION</FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This is to notify you of an upcoming
blackout period under the Petroleum &amp; Resources Employee Thrift Plan. During this
trading blackout, your ability to conduct transactions in Petroleum &amp; Resources
securities will be limited. We expect the blackout period to begin at 4 p.m. Eastern time on August 27, 2007 and remain paused until the week of September 16, 2007. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
blackout period is necessary in order to transfer our retirement plan services from Milliman Inc., the current Plan administrator, to the Principal Financial Group, the new Plan administrator. During the blackout period, participants will be
unable to direct investments in their Thrift Plan accounts, obtain a loan, or take a
withdrawal from the Thrift Plan. Participants in the Thrift Plan have been notified of the
blackout period. The actual end date of the blackout period depends on the timely and accurate transfer of data between Plan administrators. During the final week of the blackout period, you can call (866) 669-4015 to check on the status of the transition. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This notice is to inform you that,
pursuant to Section 306 of the Sarbanes-Oxley Act of 2002, you will be unable to trade in
Petroleum &amp; Resources Common Stock (including options and derivatives) during the
blackout period for the Thrift Plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SEC rules require that during such
blackout periods, executive officers and directors are prohibited from directly or
indirectly, purchasing, selling or otherwise transferring any equity security of the
company (in this case, Petroleum &amp; Resources) acquired by the individual in connection
with his or her service as an executive officer or director. &#147;Equity securities&#148;
are defined broadly to include options and other derivatives. Covered transactions are not
limited to those involving direct ownership, but include any transaction in which the
executive officer or director has a pecuniary interest. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you engage in a transaction that
violates these rules, you can be required to disgorge your profits from the transaction,
and you are subject to civil and criminal penalties. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you have any questions about the
blackout period, please feel free to call me at (410) 752-5900 (or use 800-638-2479). Thank you. </FONT></P>

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