UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549
  FORM 10-Q
  (X) QUARTERLY
    REPORT PURSUANT TO SECTION 13 or 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934
  For the
    Quarterly Period ended September 30, 2008
  OR ( )
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934
  
  000-52602
  SMITH
    BARNEY BRISTOL ENERGY FUND L.P.
    New York

20-2718952(State or other jurisdiction of


(I.R.S. Employerincorporation or organization)


Identification No.
)   c/o Citigroup
    Managed Futures LLC
    55 East 59th Street, 10th Floor
    New York, New York 10022
  (Address of
    principal executive offices) (Zip Code)
  (212) 559-2011
  (Registrants
    telephone number, including area code)
    Yes X  No
  12b-2
  Large
    accelerated filer
    Accelerated filer
    Non
    Accelerated filer X  rule 12b-2
  Yes   No X




---



##### 



SMITH
    BARNEY BRISTOL ENERGY FUND L.P.
  FORM 10-Q
  INDEX
  PageNumberPART I - Financial Information:Item 1.

Financial Statements:Statements of Financial Condition at September 30,
    2008 and December 31, 2007 (unaudited)

3Statements of Income and Expenses
    and Partners Capital for the three and nine
    months ended September 30, 2008 and 2007
    (unaudited)

4Notes to Financial Statements, including the Financial
    Statements of CMF SandRidge Master Fund L.P.
    (unaudited)

5  14Item 2.

Managements Discussion and
    Analysis of Financial Condition
    and Results of Operations

15  18Item 3.

Quantitative and Qualitative
    Disclosures about Market Risk

19Item 4T.

Controls and Procedures

20PART II - Other Information

21  24  2




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##### 



PART I  Item 1.
    Financial Statements  Smith
    Barney Bristol Energy Fund L.P.
    Statements of Financial Condition
    (Unaudited)  September 30,


December 31,2008


2007Assets:Investment in Master, at fair value

$
336,628,007


$
207,376,817Distribution receivable


237,476



406,907Cash


205,428



126,787Total assets

$
337,070,911


$
207,910,511Liabilities and Partners Capital:Liabilities:Accrued expenses:Brokerage commissions

$
1,053,347


$
649,720Management fees


559,795



345,332Administrative fees


139,949



86,333Other


140,491



61,628Redemptions payable


1,246,663



1,578,735Total liabilities


3,140,245



2,721,748Partners Capital:General Partner 1,885.0346 and 564.9760 Unit equivalents
    outstanding in 2008 and 2007, respectively


2,747,683



694,949Special Limited Partner 12,399.3900 and 2,369.3689 Redeemable
    Units of Limited Partnership Interest outstanding in 2008 and
    2007, respectively


18,073,723



2,914,442Limited Partners 214,807.3536 and 163,879.5119 Redeemable
    Units of Limited Partnership Interest outstanding in 2008 and
    2007, respectively


313,109,260



201,579,372Total partners capital


333,930,666



205,188,763Total liabilities and partners capital

$
337,070,911


$
207,910,511    3




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Statements of Income and Expenses and Partners Capital
    (Unaudited) Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Income:Net realized gains (losses) on closed positions allocated from Master
    
    $
    (7,008,809
    )
    
    $
    34,058,265
    
    
    $
    23,684,279
    
    
    $
    43,223,364Change in net unrealized (losses) gains on open positions allocated from Master
    
    
    (17,360,316
    )
    
    
    (35,126,496
    )
    
    
    37,989,829
    
    
    
    (21,719,902
    )Interest income allocated from Master
    
    
    982,490
    
    
    
    1,602,777
    
    
    
    2,715,141
    
    
    
    4,792,169Expenses allocated from Master
    
    
    (102,089
    )
    
    
    (254,589
    )
    
    
    (328,407
    )
    
    
    (429,758
    )Total income (loss)
    
    
    (23,488,724
    )
    
    
    279,957
    
    
    
    64,060,842
    
    
    
    25,865,873Expenses:Brokerage commissions
    
    
    3,092,803
    
    
    
    1,813,782
    
    
    
    8,038,681
    
    
    
    4,993,615Management fees
    
    
    1,643,654
    
    
    
    964,253
    
    
    
    4,272,341
    
    
    
    2,654,303Administrative fees
    
    
    410,914
    
    
    
    241,064
    
    
    
    1,068,084
    
    
    
    663,575Other
    
    
    107,060
    
    
    
    137,502
    
    
    
    268,163
    
    
    
    203,518Total expenses
    
    
    5,254,431
    
    
    
    3,156,601
    
    
    
    13,647,269
    
    
    
    8,515,011Net income (loss) before allocation to Special Limited Partner
    
    
    (28,743,155
    )
    
    
    (2,876,644
    )
    
    
    50,413,573
    
    
    
    17,350,862Allocation to Special Limited Partner
    
    
    
    
    
    
    
    
    
    
    (15,059,328
    )
    
    
    (2,014,644
    )Net income (loss) after allocation to Special Limited Partner
    
    
    (28,743,155
    )
    
    
    (2,876,644
    )
    
    
    35,354,245
    
    
    
    15,336,218Additions
 Special Limited Partner
    
    
    
    
    
    
    
    
    
    
    15,059,328
    
    
    
    2,014,644Additions  General Partner
    
    
    500,000
    
    
    
    
    
    
    
    2,000,000
    
    
    
    Additions  Limited Partners
    
    
    46,597,000
    
    
    
    16,930,000
    
    
    
    100,425,000
    
    
    
    33,664,256Redemptions  Limited Partners
    
    
    (4,297,164
    )
    
    
    (2,721,745
    )
    
    
    (24,096,670
    )
    
    
    (14,902,796
    )Net increase (decrease) in Partners Capital
    
    
    14,056,681
    
    
    
    11,331,611
    
    
    
    128,741,903
    
    
    
    36,112,322Partners Capital, beginning of period
    
    
    319,873,985
    
    
    
    178,264,395
    
    
    
    205,188,763
    
    
    
    153,483,684Partners Capital, end of period
    
    $
    333,930,666
    
    
    $
    189,596,006
    
    
    $
    333,930,666
    
    
    $
    189,596,006Net Asset Value per Unit (229,091.7782 and 156,901.9192 Units outstanding at
September 30, 2008 and 2007, respectively)
    
    $
    1,457.63
    
    
    $
    1,208.37
    
    
    $
    1,457.63
    
    
    $
    1,208.37Net income (loss) per Redeemable Unit of Limited Partnership Interest and
General Partner Unit equivalents
    
    $
    (132.79
    )
    
    $
    (15.22
    )
    
    $
    227.58
    
    
    $
    109.72
   4




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##### 



Smith
    Barney Bristol Energy Fund L.P.Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  1.
    General:            Form 10-K
       5




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
September 30, 2008
    (Unaudited)
   CMF SandRidge Master Fund L.P.
    Statements of Financial Condition
    (Unaudited)
  September 30,


December 31,2008


2007Assets:Equity in commodity futures trading account:Cash

$
368,380,764


$
298,469,940Cash margin


23,296,508



12,277,755Net unrealized appreciation on open futures contracts


55,116,174



Commodity options owned, at fair value (cost $1,102,700
    and $9,776,900 in 2008 and 2007, respectively)


72,125



7,615,353446,865,571



318,363,048Interest receivable


326,974



643,783Total assets

$
447,192,545


$
319,006,831Liabilities and Partners Capital:Liabilities:Net unrealized depreciation on open futures contracts

$



$
1,762,419Commodity options written, at fair value (premium
$743,600 and $6,716,000 in 2008 and 2007, respectively)


618,461



3,988,181Accrued expenses:Other


173,772



80,723Distribution payable


326,974



643,783Total liabilities


1,119,207



6,475,106Partners Capital:Limited Partners Capital, 251,252.6487 and 229,170.7149
    Redeemable Units of Limited Partnership Interest outstanding
    in 2008 and 2007, respectively


446,073,338



312,531,725Total liabilities and partners capital

$
447,192,545


$
319,006,831  6




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  CMF
    SandRidge Master Fund L.P.
    Schedule of Investments
    September 30, 2008
    (Unaudited)
  Number of





% of PartnersContracts


Fair Value


CapitalFutures Contracts PurchasedEnergyICE Henry Hub Natural Gas Swap Jan. 09  Dec. 14


14,778


$
(30,000,593
)


(6.72
)%NYMEX Natural Gas Dec. 08  Apr. 10


7,482



(172,216,667
)


(38.61
)NYMEX Henry Hub Natural Gas Dec. 08  Jan. 11


7,484



(16,715,600
)


(3.75
)Total futures contracts purchased






(218,932,860
)


(49.08
)Futures Contracts SoldEnergyICE Henry Hub Natural Gas Swap Nov. 08  Oct. 10


8,798



9,568,238



2.14NYMEX  Henry Hub Natural Gas Nov. 08  Dec. 12


15,656



89,705,840



20.11NYMEX Natural Gas Nov. 08  Sep. 09


6,177



174,774,956



39.18Total futures contracts sold






274,049,034



61.43Net unrealized appreciation on open futures contracts






55,116,174



12.35Options OwnedEnergy






72,125



0.02Total Options Owned






72,125



0.02Options WrittenEnergy






(618,461
)


(0.14
)Total Options Written






(618,461
)


(0.14
)Total fair value





$
54,569,838



12.23
%  7




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  CMF
    SandRidge Master Fund L.P.
    Schedule of Investments
    December 31, 2007
    (Unaudited)
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
5,803,214



1.86
%Total futures contracts purchased


5,803,214



1.86Futures Contracts SoldEnergy


(7,565,633
)


(2.42
)Total futures contracts sold


(7,565,633
)


(2.42
)Net unrealized depreciation on open future contracts


(1,762,419
)


(0.56
)Options OwnedEnergy


7,615,353



2.44Total Options Owned


7,615,353



2.44Options WrittenEnergy


(3,988,181
)


(1.28
)Total Options Written


(3,988,181
)


(1.28
)Total fair value

$
1,864,753



0.60
%  8




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  CMF
    SandRidge Master Fund L.P.
    Statements of Income and Expenses and Partners Capital
    (Unaudited)
  Three Months Ended


Nine Months EndedSeptember 30,


September 30,2008


2007


2008


2007Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed positions

$
(8,997,827)


$
53,074,070


$
34,194,475


$
67,409,299Change in net unrealized appreciation (depreciation) on open
    positions


(23,598,267
)


(54,320,966
)


55,406,885



(35,251,428
)Gain (loss) from trading, net


(32,596,094
)


(1,246,896
)


89,601,360



32,157,871Interest income


1,361,807



2,627,065



3,970,235



7,535,125Total income (loss)


(31,234,287
)


1,380,169



93,571,595



39,692,996Expenses:Clearing fees


70,981



283,967



256,306



520,544Other


64,976



111,532



204,331



134,759Total expenses


135,957



395,499



460,637



655,303Net income (loss)


(31,370,244
)


984,670



93,110,958



39,037,693Additions  Limited Partners


54,747,000



19,894,650



121,843,374



72,314,602Redemptions  Limited Partners


(27,931,864
)


(9,974,666
)


(77,442,484
)


(26,006,009
)Distribution of interest income to feeder funds


(1,361,807
)


(2,627,065
)


(3,970,235
)


(7,535,125
)Net increase (decrease) in Partners capital


(5,916,915
)


8,277,589



133,541,613



77,811,161Partners Capital, beginning of period


451,990,253



284,599,058



312,531,725



215,065,486Partners Capital, end of period

$
446,073,338


$
292,876,647


$
446,073,338


$
292,876,647Net Asset Value per Redeemable Unit (251,252.6487 and
    220,658.2049 Redeemable Units outstanding at September 30, 2008
    and 2007, respectively)

$
1,775.40


$
1,327.29


$
1,775.40


$
1,327.29Net income (loss) per Redeemable Unit of Limited Partnership
    Interest

$
(131.21
)

$
6.86


$
428.75


$
196.10  9




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  2.
    Financial
    Highlights:    Three Months Ended


Nine Months EndedSeptember 30,


September 30,2008


2007


2008


2007Net realized and unrealized gains (losses) allocated from Master*

$
(127.27
)

$
(15.79
)

$
327.75


$
116.11Interest income allocated from Master


4.45



10.53



14.13



32.49Expenses and allocation to Special Limited Partner**


(9.97
)


(9.96
)


(114.30
)


(38.88
)Increase (decrease) for the period


(132.79
)


(15.22
)


227.58



109.72Net Asset Value per Redeemable Unit, beginning of period


1,590.42



1,223.59



1,230.05



1,098.65Net Asset Value per Redeemable Unit, end of period

$
1,457.63


$
1,208.37


$
1,457.63


$
1,208.37   *
    
    Includes Partnership commissions and expenses allocated from
    Master.**
    
    Excludes Partnership commissions fees and expenses allocated
    from Master and includes allocation to Special Limited Partner.  Three Months Ended


Nine Months EndedSeptember 30,


September 30,2008


2007


2008


2007Ratio to average net assets:***Net investment income (loss) before allocation to Special
    Limited Partner****


(5.4
)%


(3.8
)%


(5.5
)%


(3.2
)%Operating expenses


6.6
%


7.2
%


6.8
%


6.9
%Allocation to Special Limited Partner



%



%


5.5
%


1.2
%Total expenses


6.6
%


7.2
%


12.3
%


8.1
%Total return:Total return before allocation to Special Limited Partner


(8.3
)%


(1.2
)%


23.9
%


11.2
%Allocation to Special Limited Partner



%



%


(5.4
)%


(1.2
)%Total return after allocation to Special Limited Partner


(8.3
)%


(1.2
)%


18.5
%


10.0
%   ***
    
    Annualized (except for allocation to Special Limited Partner, if
    applicable)****
    
    Interest income allocated from Master less total expenses   10




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
    Three Months Ended


Nine Months EndedSeptember 30,


September 30,2008


2007


2008


2007Net realized and unrealized gains (losses)*

$
(136.53
)

$
(4.74
)

$
412.53


$
160.09Interest income


5.58



12.10



17.10



36.63Expenses **


(0.26
)


(0.50
)


(0.88
)


(0.62
)Increase (decrease) for the period


(131.21
)


6.86



428.75



196.10Distribution of interest income to feeder funds


(5.58
)


(12.10
)


(17.10
)


(36.63
)Net Asset Value per Redeemable Unit, beginning of period


1,912.19



1,332.53



1,363.75



1,167.82Net Asset Value per  Redeemable Unit, end of period

$
1,775.40


$
1,327.29


$
1,775.40


$
1,327.29   *
    
    Includes clearing fees.**
    
    Excludes clearing fees. Three Months Ended


Nine Months EndedSeptember 30,


September 30,2008


2007


2008


2007Ratios to average net assets:***Net investment income (loss) ****


1.1
%


3.0
%


1.2
%


3.5
%Operating expense


0.1
%


0.5
%


0.2
%


0.3
%Total return


(6.9
) %


0.5
%


31.4
%


16.8
%   ***
    
    Annualized****
    
    Interest income less total expenses    3.
    Trading
    Activities:       11




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
    4.
    Fair
    Value Measurements:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    Quoted Prices in





SignificantActive Markets for


Significant Other


UnobservableIdentical Assets


Observable Inputs


Inputs9/30/2008


(Level 1)


(Level 2)


(Level 3)AssetsInvestment in Master

$
336,628,007


$



$
336,628,007


$
Total fair value

$
336,628,007


$



$
336,628,007


$
   Investments.
  Fair Value Measurements.
 12




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
  No. FAS 157-2, Effective Date of FASB Statement No. 157
    Quoted Prices in





SignificantActive Markets for


Significant Other


UnobservableIdentical Assets


Observable Inputs


Inputs9/30/2008


(Level 1)


(Level 2)


(Level 3)AssetsFutures

$
55,116,174


$
55,116,174


$



$
Options owned


72,125



72,125







Total assets

$
55,188,299


$
55,188,299


$



$
LiabilitiesOptions written

$
618,461


$
618,461


$



$
Total liabilities


618,461



618,461







Total fair value

$
54,569,838


$
54,569,838


$



$
   5.
    Financial
    Instrument Risks:     13




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##### 



Smith
    Barney Bristol Energy Fund L.P.
    Notes to Financial Statements
    September 30, 2008
    (Unaudited)
           14




---



##### 



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations.  Liquidity
    and Capital Resources
        and/or
    Critical
    Accounting Policies
  Use of Estimates.
  Investments.
  Fair Value Measurements.
 15




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##### 



Income and Expenses Recognition.
  Options.
  Forward Foreign Currency Contracts. agreed-upon
  Income Taxes.
      Recent Accounting Pronouncements.
  Results
    of Operations
   16




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##### 



30-day 3-month and/or 90-day
       17




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##### 



18




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##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
  Form 10-K
  September 30,
    2008
    (Unaudited)
  Three Months Ended September 30, 2008% of Total


High


Low


AverageMarket Sector

Value at Risk


Capital


Value at Risk


Value at Risk


Value at Risk*Energy

$
19,604,174



4.39
%

$
38,569,957


$
12,297,376


$
21,528,944Total

$
19,604,174



4.39
%    19




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##### 



Item 4T.
    Controls
    and Procedures      Rule 13a-15(e) 15d-15(e)
  internal control over financial
    reporting
  
    pertain to the maintenance of records that in reasonable detail
    accurately and fairly reflect the transactions and dispositions
    of the assets of the Partnership;
    provide reasonable assurance that (i) transactions are
    recorded as necessary to permit preparation of financial
    statements in accordance with U.S. generally accepted
    accounting principles, and (ii) the Partnerships
    receipts are handled and expenditures are made only pursuant to
    authorizations of the General Partner; and
    provide reasonable assurance regarding prevention or timely
    detection of unauthorized acquisition, use or disposition of the
    Partnerships assets that could have a material effect on
    the financial statements.   20




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##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings  Form 10-K Form 10-Q
 Research Analyst Litigation
  Subprime-Mortgage-Related Litigation
    21




---



##### 



Auction Rate Securities-Related Litigation
        22




---



##### 



Item 1A.
    Risk
    Factors  Form 10-K
    Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds        (d) Maximum Number(c) Total Number



(or Approximateof Redeemable Units



Dollar Value) of(a) Total







Purchased as Part



Redeemable Units thatNumber of



(b) Average



of Publicly



May Yet BeRedeemable



Price Paid per



Announced



Purchased Under thePeriod


Units Purchased*



Redeemable Unit**



Plans or Programs



Plans or ProgramsJuly 1, 2008 -
    July 31, 2008



1,296.6046



$
1,505.53




N/A




N/AAugust 1, 2008 -
    August 31, 2008



744.7904



$
1,474.81




N/A




N/ASeptember 1, 2008 -
    September 30, 2008



855.2669



$
1,457.63




N/A




N/A2,896.6619



$
1,483.49      Item 3.
    Defaults
    Upon Senior Securities  None  Item 4.
    Submission
    of Matters to a Vote of Security Holders 
    None  Item 5.
    Other
    Information  None 23






---



##### 



Item 6. Exhibits  Regulation S-K Form 10-12 Form 10-12 Form 10-K
  Rule 13a-14(a)/15d-14(a)
  Rule 13a-14(a)/15d-14(a)
  
  
 24




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##### 



SIGNATURES
    SMITH BARNEY BRISTOL ENERGY FUND L.P.
  By:
    Citigroup Managed Futures LLC     By:
    /s/  Jerry
    Pascucci        By:
    /s/  Jennifer
    Magro      25