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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LmO50qAoHNh2/4rNTsnaAXGPUaJT5D4npdm+ea1PYKn5DGmmy3tYjVbvC3/u2fNY
 558UHYUPrkl+Cshsd4IFQA==

<SEC-DOCUMENT>0000002230-10-000074.txt : 20101210
<SEC-HEADER>0000002230-10-000074.hdr.sgml : 20101210
<ACCEPTANCE-DATETIME>20101210093025
ACCESSION NUMBER:		0000002230-10-000074
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101201
FILED AS OF DATE:		20101210
DATE AS OF CHANGE:		20101210

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hazlett Gregory
		CENTRAL INDEX KEY:			0001479698

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-02736
		FILM NUMBER:		101243797

	MAIL ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC
		STREET 2:		1735 MARKET STREET 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

ISSUER:		

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

	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>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-12-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000216851</issuerCik>
        <issuerName>PETROLEUM &amp; RESOURCES CORP</issuerName>
        <issuerTradingSymbol>PEO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001479698</rptOwnerCik>
            <rptOwnerName>Hazlett Gregory</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PETROLEUM &amp; RESOURCES CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>7 ST. PAUL STREET, SUITE 1140</rptOwnerStreet2>
            <rptOwnerCity>BALTIMORE</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These shares were granted as restricted stock units which will vest one year from the date of grant along with dividend equivalents, unless the reporting person elects to defer the vesting date.  The restricted stock units and the dividend equivalents will be issued in shares of Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Gregory A. Hazlett</signatureName>
        <signatureDate>2010-12-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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