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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 Form 10-K
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2005
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period from            to
 Commission File No. 2-78441
 Sterling Gas Drilling Fund 1982
  New York
    
    13-3147901(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)One Landmark Square
    
    06901Stamford, Connecticut
    
    (Zip Code)(Address of principal executive offices)
 (203) 358-5700   None   Units of Limited Partnership Interests
 o þ
 o þ
 þ o
 o þ
  o o þ
 o þ
  14,370
 DOCUMENTS INCORPORATED BY REFERENCE
NONE




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TABLE OF CONTENTS  PART IItem 1. BUSINESSItem 1A. Risk FactorsITEM 1B. UNRESOLVED STAFF COMMENTSItem 2. PROPERTIESItem 3. LEGAL PROCEEDINGSItem 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSPART IIItem 5. MARKET FOR THE REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIESItem 6. SELECTED FINANCIAL DATAItem 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSItem 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKItem 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATAItem 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSUREItem 9A. CONTROLS AND PROCEDURESItem 9B. OTHER INFORMATIONPART IIIItem 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANTItem 11. EXECUTIVE COMPENSATIONItem 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERSItem 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONSItem 14. PRINCIPAL ACCOUNTANT FEES AND SERVICESPART IVItem 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULESSIGNATURESItem 6. SELECTED FINANCIAL DATAItem 7. MANAGEMENTS DISCUSSION & ANALYSIS OF FINANCIAL CONDITION & RESULTS OF OPERATIONSEXHIBITS INDEXConsent of Ryder Scott Company, L.P.302 Certification of Chief Executive Officer302 Certification of Chief Financial Officer906 Certification of Chief Executive Officer906 Certification of Chief Financial Officer    Table of Contents  STERLING GAS DRILLING FUND 1982
 FORM 10-K ANNUAL REPORT
For the Fiscal Year Ended
December 31, 2005
 
 PART I
 
 Item 1. BUSINESS




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Competition and Markets
    Environmental Matters




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Regulation
    Taxation




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PARTNERSHIPS PROFITABILITY IS HIGHLY DEPENDENT ON THE PRICES OF CRUDE OIL,NATURAL GAS AND
NATURAL GAS LIQUIDS, WHICH HAVE HISTORICALLY BEEN VERY VOLATILE
  UNCERTAINTY IN CALCULATING RESERVES; RATES OF PRODUCTION; DEVELOPMENT EXPENDITURES; CASH FLOWS
  COSTS INCURRED RELATED TO ENVIRONMENTAL MATTERS




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INSURANCE DOES NOT COVER ALL RISKS
  Market conditions or operational impediments may hinder our access to oil and natural gas markets
or delay our production.
  
 ITEM 1B. UNRESOLVED STAFF COMMENTS
  
 Item 2. PROPERTIES




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Producing Wells and Operating Information
  (1)
  Gross
    
    NetOil Wells
    
    
    0
    
    
    
    0.00Gas Wells
    
    
    59
    
    
    
    48.05Producing acres
    
    
    3,014
    
    
    
    2,455
 
 (1)
    
    A gross well is a well in which an interest is owned; a net well is the sum of the
interests owned in gross wells. Wells are classified by their primary product. Some
wells produce both oil and gas.  year ended December 312005
    
    2004
    
    2003
    
    2002
    
    2001Production:Oil and Condensate (bbl)
    
    
    1,043
    
    
    
    855
    
    
    
    962
    
    
    
    1,309
    
    
    
    1,091Gas (Mcf)
    
    
    84,231
    
    
    
    83,701
    
    
    
    76,802
    
    
    
    78,796
    
    
    
    78,744Average Price of Sales:Oil and Condensate ($  per bbl)
    
    $
    51.67
    
    
    $
    40.26
    
    
    $
    27.14
    
    
    $
    21.53
    
    
    $
    22.82Gas ($  per Mcf)
    
    $
    9.28
    
    
    $
    6.73
    
    
    $
    5.00
    
    
    $
    3.59
    
    
    $
    5.13Production Expense per Dollar
Of Operating Revenue
    
    $
    0.47
    
    
    $
    0.46
    
    
    $
    0.54
    
    
    $
    0.50
    
    
    $
    0.53




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Oil and Gas Reserves
  Proved DevelopedAs of 12-31
    
    Oil (bbls)
    
    Gas (Mcf)2001
    
    
    13,700
    
    
    
    1,354,1002002
    
    
    14,000
    
    
    
    1,429,6002003
    
    
    10,500
    
    
    
    1,438,1002004
    
    
    9,500
    
    
    
    1,464,4002005
    
    
    8,300
    
    
    
    1,530,000
  Proved DevelopedPresent ValueFuture Net
    
    of Future NetAs of 12-31
    
    Revenue $
    
    Revenue $2001
    
    
    1,930,100
    
    
    
    788,0002002
    
    
    3,292,100
    
    
    
    1,347,7002003
    
    
    5,142,400
    
    
    
    2,161,4002004
    
    
    5,795,400
    
    
    
    2,439,5002005
    
    
    8,719,800
    
    
    
    3,742,400




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Item 3. LEGAL PROCEEDINGS
  
 Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  
 PART II
 
 Item 5.
MARKET FOR THE REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
    
 Item 6. SELECTED FINANCIAL DATA




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Item 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  
 Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  
 Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
  
 Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
  
 Item 9A. CONTROLS AND PROCEDURES
  
 Item 9B.
OTHER INFORMATION




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PART III
 
 Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT




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Item 11. EXECUTIVE COMPENSATION
  
 Item 12.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS
  NumberName and Address of Beneficial Owner
    
    Of Units
    
    PercentPrimeEnergy Management Corporation
One Landmark Square
Stamford, CT 06901
    
    
    1,249
    
    
    
    8.70
    %PrimeEnergy Corporation
One Landmark Square
Stamford, CT 06901
    
    
    7,234
    
    
    
    50.34
    %




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Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
  
 Item 14.
PRINCIPAL ACCOUNTANT FEES AND SERVICES




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PART IV
 
 Item 15.
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
 The following documents are filed as a part of this Report:
 1.
    
    Financial Statements (Index to the Financial Information at page
F-1)2.
    
    Financial Statement Schedules:Schedule V Property and Equipment  Oil and Gas Properties
Schedule VI Accumulated Depreciation, Depletion and Amortization
 Oil and
Gas Properties3.
    
    Exhibits:
 (3)
    
    Form of Agreement of Limited Partnership of
Sterling Gas Drilling Fund 1981 (Incorporated by reference to Exhibit
(3) of Sterling Gas Drilling Fund 1981 Form 10-K for the year ended
December 31, 1994.)23
    
    Consent of Ryder Scott Company, L.P. (filed herewith)31.1
    
    302 Certification of Chief Executive Officer31.2
    
    302 Certification of Chief Financial Officer32.1
    
    Certification of Chief Executive Officer
pursuant to 18.U.S.C. Section 1350, as adopted pursuant to section 906
of the Sarbanes-Oxley Act of 2002.32.2
    
    Certification of Chief Financial Officer
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906
of the Sarbanes-Oxley Act of 2002 Consent of Ryder Scott Company, L.P.
(filed herewith)




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SIGNATURES
  Sterling Gas Drilling Fund 1982By:
    
    PrimeEnergy Management CorporationManaging General PartnerBy:
    
    /S/ Charles E. Drimal Jr.Charles E. Drimal, Jr.President
  /S/ Charles E. Drimal Jr
    
    
    
    Director and President,Charles E. Drimal, Jr.
    
    
    
    PrimeEnergy Management CorporationThe Principal Executive Officer/S/ Beverly A. Cummings
    
    
    
    Director and Vice President and Treasurer,Beverly A. Cummings
    
    
    
    PrimeEnergy Management Corporation;The Principal Financial
and Accounting Officer




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Sterling Gas Drilling Fund 1982
(a New York Limited Partnership)
  Page No.Selected Financial Data
    
    F-1Managements Discussion and Analysis of Financial Condition
and Results of Operations
    
    F-2Report of Independent Public Accountants
    
    F-5Financial Statements:Balance Sheets, December 31, 2005 and 2004
    
    F-6Statements of Operations for the Years Ended December 31,
2005, 2004 and 2003
    
    F-7Statements of Changes in Partners Equity for the Years
Ended December 31, 2005, 2004 and 2003
    
    F-8Statements of Cash Flows for the Years Ended December 31,
2005, 2004 and 2003
    
    F-9Notes to Financial Statements
    
    F-10Schedules:V    Property and Equipment  Oil and Gas Properties for
the Years Ended December 31, 2005, 2004 and 2003
    
    F-18VI  
Accumulated Depreciation, Depletion, and Amortization 
Oil and Gas Properties for the Years Ended
     December 31,
2005, 2004 and 2003
    
    F-19
  F-1




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Item 6. SELECTED FINANCIAL DATA
  YEAR
ENDED DECEMBER 31, (000s omitted)2005
    
    2004
    
    2003
    
    2002
    
    2001Revenues
    
    $
    840
    
    
    $
    600
    
    
    $
    412
    
    
    $
    389
    
    
    $
    517Net income:Limited Partners
    
    
    238
    
    
    
    147
    
    
    
    33
    
    
    
    67
    
    
    
    114General Partners
    
    
    49
    
    
    
    32
    
    
    
    11
    
    
    
    17
    
    
    
    27Per equity unit
    
    
    16.57
    
    
    
    10.26
    
    
    
    2.27
    
    
    
    4.66
    
    
    
    7.91Total assets
    
    
    1,077
    
    
    
    858
    
    
    
    721
    
    
    
    720
    
    
    
    635Cash distributions:Limited Partners
    
    
    57
    
    
    
    36
    
    
    
    36
    
    
    
    
    
    
    
    General Partners
    
    
    11
    
    
    
    7
    
    
    
    7
    
    
    
    
    
    
    
    Limited partners as
a % of original
contribution
    
    
    .40
    %
    
    
    .25
    %
    
    
    .25
    %
    
    
    
    
    
    
    
 
 Item 7.
MANAGEMENTS DISCUSSION & ANALYSIS OF FINANCIAL CONDITION & RESULTS OF OPERATIONS
   F-2




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2005 compared to 2004
     F-3




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2004 compared to 2003
     F-4




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REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
 PUSTORINO,
    
    (PP&C LOGO)PUGLISI& CO., LLPCERTIFIED PUBLIC ACCOUNTANTS515 MADISON AVENUENEW YORK, NEW YORK 10022(212) 832-1110 FAX (212) 755-6748
 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 F-5




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STERLING GAS DRILLING FUND 1982
(a New York limited partnership)
 BALANCE SHEETS
 DECEMBER 31, 2005 AND 2004
 2005
    
    
    2004AssetsCurrent Assets:Cash and cash equivalents (Note 2)
    
    $
    359,880
    
    
    $
    273,288Due from affiliates
    
    
    95,884
    
    
    
    5,561Due from others
    
    
    151,486
    
    
    
    81,656Total Current Assets
    
    
    607,250
    
    
    
    360,505Oil and Gas Properties  successful efforts
methods (Note 3) Leasehold costs
    
    
    466,804
    
    
    
    466,804Wells and related facilities
    
    
    11,970,091
    
    
    
    11,970,091Total
    
    
    12,436,895
    
    
    
    12,436,895Less  Accumulated depreciation, depletion
and amortization
    
    
    (11,967,054
    )
    
    
    (11,939,129
    )469,841
    
    
    
    497,766Total Assets
    
    $
    1,077,091
    
    
    $
    858,271
 Partners
EquityPartners Equity:Limited partners
    
    $
    1,215,220
    
    
    $
    1,034,552General partners
    
    
    (138,129
    )
    
    
    (176,281
    )Total Partners Equity
    
    $
    1,077,091
    
    
    $
    858,271
  F-6




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STERLING GAS DRILLING FUND 1982
(a New York limited partnership)
   2005
    
    
    2004
    
    
    2003Limited
    
    
    General
    
    
    Total
    
    
    Limited
    
    
    General
    
    
    Total
    
    
    Limited
    
    
    General
    
    
    TotalPartners
    
    
    Partners
    
    
    Partners
    
    
    Partners
    
    
    Partners
    
    
    Partners
    
    
    Partners
    
    
    Partners
    
    
    PartnersRevenue:Operating revenues
    
    $
    703,418
    
    
    $
    132,492
    
    
    $
    835,910
    
    
    $
    503,080
    
    
    $
    94,757
    
    
    $
    597,837
    
    
    $
    345,037
    
    
    $
    64,989
    
    
    $
    410,026Other revenue
(Note 10)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Interest Income
    
    
    4,517
    
    
    
    46
    
    
    
    4,563
    
    
    
    2,331
    
    
    
    24
    
    
    
    2,355
    
    
    
    1,632
    
    
    
    16
    
    
    
    1,648Total Revenue
    
    
    707,935
    
    
    
    132,538
    
    
    
    840,473
    
    
    
    505,411
    
    
    
    94,781
    
    
    
    600,192
    
    
    
    346,669
    
    
    
    65,005
    
    
    
    411,674Costs and Expenses:Production expenses
    
    
    333,211
    
    
    
    62,762
    
    
    
    395,973
    
    
    
    228,916
    
    
    
    43,117
    
    
    
    272,033
    
    
    
    185,203
    
    
    
    34,884
    
    
    
    220,087Depreciation,
depletion and
amortization
    
    
    27,646
    
    
    
    279
    
    
    
    27,925
    
    
    
    26,649
    
    
    
    269
    
    
    
    26,918
    
    
    
    29,126
    
    
    
    294
    
    
    
    29,420General and
administrative
expenses (Note 7)
    
    
    108,930
    
    
    
    20,518
    
    
    
    129,448
    
    
    
    102,378
    
    
    
    19,283
    
    
    
    121,661
    
    
    
    99,655
    
    
    
    18,771
    
    
    
    118,426Total Expenses
    
    
    469,787
    
    
    
    83,559
    
    
    
    553,346
    
    
    
    357,943
    
    
    
    62,669
    
    
    
    420,612
    
    
    
    313,984
    
    
    
    53,949
    
    
    
    367,933Net Income
    
    $
    238,148
    
    
    $
    48,979
    
    
    $
    287,127
    
    
    $
    147,468
    
    
    $
    32,112
    
    
    $
    179,580
    
    
    $
    32,685
    
    
    $
    11,056
    
    
    $
    43,741Net Income Per
Equity Unit (Note
2)
    
    $
    16.57
    
    
    
    
    
    
    
    
    
    
    $
    10.26
    
    
    
    
    
    
    
    
    
    
    $
    2.27
  F-7




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STERLING GAS DRILLING FUND 1982
(a New York limited partnership)
   Limited
    
    
    GeneralPartners
    
    
    Partners
    
    
    TotalBalance at December 31, 2002
    
    $
    926,249
    
    
    $
    (205,915
    )
    
    $
    720,334Distributions to partners
    
    
    (35,925
    )
    
    
    (6,767
    )
    
    
    (42,692
    )Net Income
    
    
    32,685
    
    
    
    11,056
    
    
    
    43,741Balance at December 31, 2003
    
    
    923,009
    
    
    
    (201,626
    )
    
    
    721,383Distributions to partners
    
    
    (35,925
    )
    
    
    (6,767
    )
    
    
    (42,692
    )Net Income
    
    
    147,468
    
    
    
    32,112
    
    
    
    179,580Balance at December 31, 2004
    
    
    1,034,552
    
    
    
    (176,281
    )
    
    
    858,271Distributions to partners
    
    
    (57,480
    )
    
    
    (10,827
    )
    
    
    (68,307
    )Net Income
    
    
    238,148
    
    
    
    48,979
    
    
    
    287,127Balance at December 31, 2005
    
    $
    1,215,220
    
    
    $
    (138,129
    )
    
    $
    1,077,091
  F-8




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STERLING GAS DRILLING FUND 1982
(a New York limited partnership)
   2005
    
    
    2004
    
    
    2003Cash Flows From Operating Activities:Net Income
    
    $
    287,127
    
    
    $
    179,580
    
    
    $
    43,741Adjustments to reconcile net income
to net cash provided by
operating activities:Depreciation, depletion and
Amortization
    
    
    27,925
    
    
    
    26,918
    
    
    
    29,420Changes in Assets and Liabilities:(Increase) decrease in due from
affiliates
    
    
    (90,323
    )
    
    
    (679
    )
    
    
    15,476(Increase) decrease in due from
others
    
    
    (69,830
    )
    
    
    (81,656
    )
    
    
    Net Cash Provided by
Operating Activities
    
    
    154,899
    
    
    
    124,163
    
    
    
    88,637Cash Flows From Financing Activities:Distributions to partners
    
    
    (68,307
    )
    
    
    (42,692
    )
    
    
    (42,692
    )Net Cash Used in Financing Activities
    
    
    (68,307
    )
    
    
    (42,692
    )
    
    
    (42,692
    )Net Increase in cash and cash
Equivalents
    
    
    86,592
    
    
    
    81,471
    
    
    
    45,945Cash and cash equivalents, beginning of
Year
    
    
    273,288
    
    
    
    191,817
    
    
    
    145,872Cash and cash equivalents, end of year
    
    $
    359,880
    
    
    $
    273,288
    
    
    $
    191,817
  F-9




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Organization and Capital Contributions
  Summary of Significant Accounting Policies
 Revenue Recognition
  Basis of Accounting
  Oil and Gas Producing Activities:
  F-10




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Summary of Significant Accounting Policies
  Federal Income Taxes
  Limited Partners Income (Loss) Per Equity Unit
  Cash and Cash Equivalents
  Use of Estimates
  Oil and Gas Properties
  F-11




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(3)
    
    Oil and Gas Properties (continued):
  2005
    
    2004
    
    2003Average sales price per MCF of gas
    
    $
    9.28
    
    
    $
    6.73
    
    
    $
    5.00Average sales price per BBL of
oil and other liquids
    
    $
    51.67
    
    
    $
    40.26
    
    
    $
    27.14Production expense per dollar of
operating revenue
    
    $
    0.47
    
    
    $
    0.46
    
    
    $
    0.54
 (4)
    
    Quantities of Oil and Gas Reserves:
  (Unaudited)GAS (MCF)
    
    
    OIL (BBL)Reserves as of December 31, 2002
    
    
    1,429,562
    
    
    
    13,961Revisions of previous estimates
    
    
    85,336
    
    
    
    (2,513
    )Production
    
    
    (76,802
    )
    
    
    (962
    )Reserves as of December 31, 2003
    
    
    1,438,096
    
    
    
    10,486Revisions of previous estimates
    
    
    109,999
    
    
    
    (124
    )Production
    
    
    (83,701
    )
    
    
    (855
    )Reserves as of December 31, 2004
    
    
    1,464,394
    
    
    
    9,507Revisions of previous estimates
    
    
    149,972
    
    
    
    (189
    )Production
    
    
    (84,231
    )
    
    
    (1,043
    )Reserves as of December 31, 2005
    
    
    1,530,135
    
    
    
    8,275
 F-12




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(4)
    
    Quantities of Oil and Gas Reserves  (Contd):
    F-13




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(5)
    
    Allocation of Partnership Revenues, Income, Costs and Expenses:
   Limited partners
    
    
    99.00
    %General partners
    
    
    1.00
    %100.00
    %
  Limited partners
    
    
    
    %General partners
    
    
    100.00
    %100.00
    %
  Limited partners
    
    
    
    %General partners
    
    
    100.00
    %100.00
    %
 
 Limited partners
    
    
    99.00
    %General partners
    
    
    1.00
    %100.00
    %
  Limited partners
    
    
    84.15
    %General partners
    
    
    15.85
    %100.00
    %
  Limited partners
    
    
    99.00
    %General partners
    
    
    1.00
    %100.00
    %
 F-14




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(6)
    
    Transactions With Affiliates:
 (a)
    
    The payable or receivable to affiliates at December 31, 2005 and 2004
represents general and administrative and certain other expenses incurred on behalf of
the Partnership by PEC and its subsidiaries, including amounts due for production
operators fees (Note 6(b)), and revenues collected on behalf of the Partnership. PEMC
intends to continue to make advances to the Partnership to fund any working capital
deficiencies in the future on an interest free basis.(b)
    
    As operator of the Partnerships properties, Prime Operating Company (POC), a
subsidiary of PEC, receives, as compensation from the Partnership, a monthly production
operators fee of $273 for each producing gas well and $897 for each producing oil or
combination gas and oil well, based on the Partnerships percentage of working interest
in the well. These fees are subject to annual adjustments by the percentage increase
in the Cost of Living Index published by the U.S. Department of Labor over the year
$256,318, $210,035 and $137,115 of production operators fees were incurred,
respectively.(c)
    
    Eastern Oil Well Services Company (EOWSC), a subsidiary of PEC, provided
field services to the Partnership during the years ending December 31, 2005, 2004 and
2003 for which it was billed $975, $3,400, and $15,940, respectively.
 (7)
    
    General and Administrative Expenses:
    F-15




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##### Table of Contents



(8)
    
    Federal Income Taxes:
  Year Ended December 31,2005
    
    
    2004
    
    
    2003Net income as reported on the
Partnerships federal income tax return
    
    $
    315,052
    
    
    $
    206,498
    
    
    $
    73,161Depreciation, depletion and
amortization for financial reporting
purposes greater than income tax amount
    
    
    (27,925
    )
    
    
    (26,918
    )
    
    
    (29,420
    )Net income per accompanying financial
statements
    
    $
    287,127
    
    
    $
    179,580
    
    
    $
    43,741
  F-16




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##### Table of Contents



(9)
    
    Major Customers:
  Purchaser
    
    2005
    
    2004
    
    2003Clearfield Appalachian
    
    $
    53,947
    
    
    $
    34,439
    
    
    $
    26,118Dominion Field Services
    
    $
    534,532
    
    
    $
    387,831
    
    
    $
    263,720Cabot Oil & Marketing Corporations
    
    $
    59,983
    
    
    $
    75,131
    
    
    $
    46,719Eastern Pipeline Corp.
    
    $
    97,277
    
    
    $
    72,875
    
    
    $
    52,149
 F-17




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##### Table of Contents



SCHEDULE V
   Balance at
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    BalanceBeginning
    
    
    Additions
    
    
    
    
    
    
    Other
    
    
    At EndOf Year
    
    
    At cost
    
    
    Retirements
    
    
    Changes
    
    
    Of YearYear Ended December 31, 2005:Leasehold costs
    
    $
    466,804
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    466,804Wells and related equipment
    
    
    11,970,091
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    11,970,091$
    12,436,895
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    12,436,895Year Ended December 31, 2004:Leasehold costs
    
    $
    466,804
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    466,804Wells and related equipment
    
    
    11,970,091
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    11,970,091$
    12,436,895
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    12,436,895Year ended December 31, 2003:Leasehold costs
    
    $
    466,804
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    466,804Wells and related equipment
    
    
    11,970,091
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    11,970,091$
    12,436,895
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    12,436,895
 F-18




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##### Table of Contents



SCHEDULE VI
   Balance at
    
    
    Charges to
    
    
    
    
    
    
    
    
    
    
    BalanceBeginning
    
    
    Costs and
    
    
    
    
    
    
    Other
    
    
    At EndOf Year
    
    
    Expenses
    
    
    Retirements
    
    
    Retirements
    
    
    Of YearYear Ended December 31, 2005:Leasehold costs
    
    $
    454,449
    
    
    $
    693
    
    
    $
    
    
    
    $
    
    
    
    $
    455,142Wells and related equipment
    
    
    11,484,681
    
    
    
    27,232
    
    
    
    
    
    
    
    
    
    
    
    11,511,913$
    11,939,130
    
    
    $
    27,925
    
    
    $
    
    
    
    $
    
    
    
    $
    11,967,055Year Ended December 31, 2004:Leasehold costs
    
    $
    453,781
    
    
    $
    668
    
    
    $
    
    
    
    $
    
    
    
    $
    454,449Wells and related equipment
    
    
    11,458,431
    
    
    
    26,250
    
    
    
    
    
    
    
    
    
    
    
    11,484,681$
    11,912,212
    
    
    $
    26,918
    
    
    $
    
    
    
    $
    
    
    
    $
    11,939,130Year ended December 31, 2003:Leasehold costs
    
    $
    453,051
    
    
    $
    730
    
    
    $
    
    
    
    $
    
    
    
    $
    453,781Wells and related equipment
    
    
    11,429,740
    
    
    
    28,691
    
    
    
    
    
    
    
    
    
    
    
    11,458,431$
    11,882,791
    
    
    $
    29,421
    
    
    $
    
    
    
    $
    
    
    
    $
    11,912,212
 F-19




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##### Table of Contents



SequentiallyExhibit
    
    
    
    NumberedNumber
    
    Exhibit
    
    Page(3)
    
    Form of Agreement of Limited Partnership of Sterling Gas Drilling Fund
1982 (incorporated by reference to Exhibit (3) of Sterling Gas Drilling
Fund 1982 Form 10-K for the year ended December 31, 1994)(23)
    
    Consent of Ryder Scott Company, L.P. (filed herewith)(31.1)
    
    302 Certification of Chief Executive Officer(31.2)
    
    302 Certification of Chief Financial Officer(32.1)
    
    Certification of Chief Executive Officer pursuant to 18.U.S.C. Section
1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of
2002.(32.2)
    
    Certification of Chief Financial Officer pursuant to 18 U.S.C. Section
1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002