PETROLEUM AND RESOURCES CORP <PEO> MARCH 31 Shr 31.36 dlrs vs 25.23 dlrs Assets 286.5 mln vs 253.0 mln Shrs out 9,138,526 vs 8,839,695 NOTE: latest assets after capital gain distributions of 50 cts a share in February 1987 and 83 cts a share in December 1986, and with 29,955,000 stated value 1.676 dlr convertible preferred stock outstanding.