Adams Natural Resources Fund (PEO) N-PX Annual report of proxy voting record

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-02736
-------------------------------------------------------------------------

PETROLEUM & RESOURCES CORPORATION
-------------------------------------------------------------------------
(Exact name of registrant as specified in charter)

7 Saint Paul Street, Suite 1140, Baltimore, Maryland 21202
-------------------------------------------------------------------------
(Address of principal executive offices)

Lawrence L. Hooper, Jr.
Petroleum & Resources Corporation
7 Saint Paul Street, Suite 1140
Baltimore, Maryland 21202
-------------------------------------------------------------------------
(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 Type (Mgmt or Shldr)	Voted (Yes or No)	Vote (For, Agnst, Abstain, For All - Dirs., Withheld Elec Of Dirs.)	For/ Agnst Mgmt
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
Ticker: MDU
CUSIP: 576206-10-6
Meeting Date: 05/19/2009
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.
Ticker: MDU
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
Ticker: NFG
CUSIP: 636180-10-1
Meeting Date: 3/12/2009
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
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
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
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
-------------------------------------------------------------------------

(Registrant)

BY:	/s/ Douglas G. Ober
	---------------------------------------------------
	Douglas G. Ober
	Chief Executive Officer and President
	(Principal Executive Officer)
DATE:	July 16, 2009