X0201 4 2004-01-08 0 0000216851 PETROLEUM & RESOURCES CORP PEO 0001202949 OBER DOUGLAS G 7 ST PAUL STREET STE 1140 BALTIMORE MD 21202 1 1 0 0 Chairman, CEO & President Stock Options w/tandem SARs 23.015 2004-01-08 4 A 0 4344 0 A 2012-01-01 2014-01-08 Common Stock 4344 40780 D These options were granted in tandem with SARs under the Issuer's Stock Option Plan in a transaction exempt under Rule 16b-3. Reflects all outstanding options held by the undersigned. Douglas G. Ober 2004-01-12