UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q


(Mark One)

     [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 2005


                        Commission File Number 000-51267

                          RIDGEWOOD ENERGY L FUND, LLC
             (Exact name of registrant as specified in its charter)


                     Delaware                               11-3719724
         (State or other jurisdiction of                 (I.R.S. Employer
          Incorporation or organization)                Identification No.)


                  1314 King Street, Wilmington, Delaware 19801
               (Address of principal executive offices) (Zip code)



                                 (201) 447-9000
              (Registrant's telephone number, including area code)



     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [_]

     Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act). Yes[_] No [X]

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

     As of November 14, 2005 there were 350.1081 shares of membership interest
of the registrant outstanding.

<PAGE>


                                Table of Contents


<TABLE>
<CAPTION>
<S>                                                                                                                <C>

                                                                                                                     Page

Part I -  FINANCIAL INFORMATION ........................................................................................3

Item 1.   Financial Statements: ........................................................................................3

     Balance Sheets as of September 30, 2005 (unaudited) and December 31, 2004 .........................................3
     Statements of Operations for the three months and nine months ended September 30, 2005
      and 2004 (unaudited) .............................................................................................4
     Statements of Changes in Shareholders' Capital for the nine months ended
      September 30, 2005 and 2004 (unaudited) ..........................................................................5
     Statements of Cash Flows for the nine months ended September 30, 2005 and 2004 (unaudited) ........................6
     Notes to Unaudited Financial Statements ...........................................................................7

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations ..........................................................................................................10

Item 3. Quantitative and Qualitative Disclosures About Market Risk .....................................................12

Item 4. Controls and Procedures ........................................................................................12

Part II - OTHER INFORMATION ............................................................................................12

Item 6. Exhibits .......................................................................................................12

SIGNATURES .............................................................................................................13
</TABLE>


                                       2
<PAGE>

Part I - Financial Information
Item 1.  Financial Statements

                          RIDGEWOOD ENERGY L FUND, LLC
                        (An exploratory stage enterprise)
                                 BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                                       September 30, 2005       December 31, 2004
                                                                                       ------------------       -----------------
                                                                                         (Unaudited)
<S>                                                                                        <C>                    <C>
                                     ASSETS
Current assets:
         Cash and cash equivalents                                                         $ 24,316,341           $ 36,362,893
         Production receivable                                                                1,674,509                     --
         Prepaid expenses                                                                        23,066                 22,228
                                                                                           ------------           ------------
                 Total current assets                                                        26,013,916             36,385,121
                                                                                           ------------           ------------
Oil and gas properties
         Proved properties                                                                    8,559,365                     --
         Exploratory drilling costs                                                           1,272,177              3,844,685
                                                                                           ------------           ------------
                                                                                              9,831,542              3,844,685
         Less:  accumulated depreciation, depletion and
            amortization - proved properties                                                   (105,694)                    --
                                                                                           ------------           ------------
         Oil and gas properties, net                                                          9,725,848              3,844,685
                                                                                           ------------           ------------
                 Total assets                                                              $ 35,739,764           $ 40,229,806
                                                                                           ============           ============
                      LIABILITIES AND SHAREHOLDERS' CAPITAL
Current liabilities:
         Due to operators                                                                  $  1,240,567           $         --
         Accrued expenses payable                                                                77,586                 16,240
                                                                                           ------------           ------------

                 Total liabilities                                                            1,318,153                 16,240
                                                                                           ------------           ------------
Commitment and contingencies (Note 4)

Shareholders' capital:
         Manager:
                 Deficit accumulated during the exploratory stage                              (139,701)              (140,043)
                                                                                           ------------           ------------
         Shareholders:
                 Capital contributions, (670 shares authorized,
                    350.1081 issued and outstanding)                                         51,400,840             51,400,840
                 Syndication costs                                                           (5,501,727)            (5,501,727)
                 Deficit accumulated during the exploratory stage                           (11,337,801)            (5,545,504)
                                                                                           ------------           ------------
                         Shareholders total                                                  34,561,312             40,353,609
                                                                                           ------------           ------------
                 Total shareholders' capital                                                 34,421,611             40,213,566
                                                                                           ------------           ------------

                 Total liabilities and shareholders' capital                               $ 35,739,764           $ 40,229,806
                                                                                           ============           ============
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                       3
<PAGE>

                          RIDGEWOOD ENERGY L FUND, LLC
                        (An exploratory stage enterprise)
                            STATEMENTS OF OPERATIONS

                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                  For the period   For the period
                                                                                                   May 27, 2004     May 27, 2004
                                                  Three months ended              Nine months      (Inception)      (Inception)
                                                     September 30,                   ended           through          through
                                            -----------------------------        September 30,     September 30,    September 30,
                                                2005             2004                2005             2004             2005
                                            ------------     ------------        ------------     ------------     ------------
<S>                                                <C>              <C>              <C>              <C>              <C>
Revenue
    Oil                                     $    208,613     $         --        $    208,613     $         --     $    208,613
    Gas                                        1,465,896               --           1,465,896               --        1,465,896
                                            ------------     ------------        ------------     ------------     ------------

      Total revenue                            1,674,509               --           1,674,509               --        1,674,509

Expenses
    Dry hole costs                             5,735,349               --           6,615,615               --        9,496,343
    Depletion and amortization                   105,694               --             105,694               --          105,694
    Investment fees (Note 3)                          --        2,315,967                  --        2,315,967        2,315,967
    Management fees (Note 3)                     321,257           94,762             963,771           94,762        1,513,077
    Accounting and legal fees                     59,528               --              73,586               --           99,826
    Insurance                                     79,412           25,970             220,555           25,970          236,432
    Other general and administrative
    expenses                                          91            3,052                 440            3,052            3,212
                                            ------------     ------------        ------------     ------------     ------------

      Total expenses                           6,301,331        2,439,751           7,979,661        2,439,751       13,770,551
                                            ------------     ------------        ------------     ------------     ------------

      Loss from operations                    (4,626,822)      (2,439,751)         (6,305,152)      (2,439,751)     (12,096,042)
                                            ------------     ------------        ------------     ------------     ------------
Other income
    Interest income                              187,756           36,114             513,197           36,114          618,540
                                            ------------     ------------        ------------     ------------     ------------
      Net loss                              $ (4,439,066)    $ (2,403,637)       $ (5,791,955)    $ (2,403,637)    $(11,477,502)
                                            ============     ============        ============     ============     ============

      Manager - Net income (loss)           $    125,600     $    (41,366)       $        342     $    (41,366)    $   (139,701)

      Shareholders - Net loss               $ (4,564,666)    $ (2,362,271)       $ (5,792,297)    $ (2,362,271)    $(11,337,801)
      Net loss per share                    $    (13,038)    $     (6,747)       $    (16,544)    $     (6,747)    $    (32,384)
</TABLE>




     The accompanying notes are an integral part of these financial statements.


                                       4
<PAGE>

                          RIDGEWOOD ENERGY L FUND, LLC
                        (An exploratory stage enterprise)
                 STATEMENTS OF CHANGES IN SHAREHOLDERS' CAPITAL

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                    Nine months ended                   For the period May 27, 2004 (Inception)
                                                    September 30, 2005                         through September 30, 2004
                                       --------------------------------------------    --------------------------------------------
                                          Manager       Shareholders       Total          Manager      Shareholders       Total
                                       ------------    -------------   ------------    ------------    ------------    ------------
<S>                                    <C>             <C>             <C>             <C>             <C>             <C>
Balances, January 1                    $   (140,043)   $ 40,353,609    $ 40,213,566    $         --    $         --    $         --
Shareholder capital contributions,
 net of subscription receivable                  --              --              --              --      50,631,840      50,631,840
Syndication costs                                --              --              --              --      (5,501,727)     (5,501,727)
Net income (loss)                               342      (5,792,297)     (5,791,955)        (41,366)     (2,362,271)     (2,403,637)
                                       ------------    ------------    ------------    ------------    ------------    ------------
Balances, September 30                 $   (139,701)   $ 34,561,312    $ 34,421,611    $    (41,366)   $ 42,767,842    $ 42,726,476
                                       ============    ============    ============    ============    ============    ============
</TABLE>

<TABLE>
<CAPTION>
                                              For the period May 27, 2004 (Inception)
                                                    through September 30, 2005
                                         ------------------------------------------------
                                            Manager       Shareholders         Total
                                         -------------  ----------------  ---------------
<S>                                       <C>              <C>               <C>
Balances, May 27, 2004 (Inception)        $         --     $         --      $         --

Shareholders' capital contributions                 --       51,400,840        51,400,840
Syndication costs (including offering
   fee of $1,801,319 paid to the Manager
   and selling commissions and placement
   fees of $201,500 and $514,613,
   respectively, paid to Ridgewood
   Securities Corp.)                                --       (5,501,727)       (5,501,727)
Deficit accumulated during the
   exploratory stage                          (139,701)     (11,337,801)      (11,477,502)
                                          ------------     ------------      ------------
Balances, September 30, 2005              $   (139,701)    $ 34,561,312      $ 34,421,611
                                          ============     ============      ============
</TABLE>



     The accompanying notes are an integral part of these financial statements.


                                       5
<PAGE>

                          RIDGEWOOD ENERGY L FUND, LLC
                        (An exploratory stage enterprise)
                            STATEMENTS OF CASH FLOWS

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                             For the period      For the period
                                                                             Nine months      May 27, 2004        May 27, 2004
                                                                                ended         (Inception)         (Inception)
                                                                             September 30,      through             through
                                                                                2005        September 30, 2004  September 30, 2005
                                                                           --------------   ------------------  ------------------
<S>                                                                          <C>                 <C>               <C>
Cash flows from operating activities
     Net loss                                                                $ (5,791,955)       $ (2,403,637)     $(11,477,502)
     Adjustments to reconcile net loss to
        net cash and cash equivalents used in operating activities
         Depreciation, depletion and amortization                                 105,694                  --           105,694
         Dry hole costs                                                         6,615,615                  --         9,496,343
         Changes in assets and liabilities
              Increase in production receivable                                (1,674,509)                 --        (1,674,509)
              Increase in prepaid expenses                                           (838)            (13,936)          (23,066)
              Increase in due to affiliate                                             --             164,764                --
              Increase in accrued expenses payable                                 61,346                  --            77,586
                                                                             ------------        ------------      ------------
              Net cash used in operating activities                              (684,647)         (2,252,809)       (3,495,454)
                                                                             ------------        ------------      ------------
Cash flows from investing activities
     Capital expenditures for oil and gas properties                          (11,361,905)         (2,815,571)      (18,087,318)
                                                                             ------------        ------------      ------------
              Net cash used in investing activities                           (11,361,905)         (2,815,571)      (18,087,318)
                                                                             ------------        ------------      ------------
Cash flows from financing activities
     Contributions from shareholders, net of subscriptions receivable                  --          50,631,840        51,400,840
     Syndication costs                                                                 --          (3,276,463)       (5,501,727)
                                                                             ------------        ------------      ------------
              Net cash provided by financing activities                                --          47,355,377        45,899,113
                                                                             ------------        ------------      ------------
              Net (decrease) increase in cash and cash equivalents            (12,046,552)         42,286,997        24,316,341

              Cash and cash equivalents, beginning of period                   36,362,893                  --                --
                                                                             ------------        ------------      ------------
              Cash and cash equivalents, end of period                       $ 24,316,341        $ 42,286,997      $ 24,316,341
                                                                             ============        ============      ============

Supplemental schedule of non-cash activity
     Capital expenditures for oil and gas properties included in
         due to operators                                                    $  1,773,950        $         --      $  1,773,950
                                                                             ============        ============      ============
</TABLE>



     The accompanying notes are an integral part of these financial statements.


                                       6
<PAGE>

                          RIDGEWOOD ENERGY L FUND, LLC
                        (An exploratory stage enterprise)
                     NOTES TO UNAUDITED FINANCIAL STATEMENTS

1. Organization and Purpose

The Ridgewood Energy L Fund, LLC ("Fund"), a Delaware limited liability company,
was formed on May 27, 2004 and operates pursuant to a limited liability company
agreement ("Agreement") dated as of July 1, 2004 by and among Ridgewood Energy
Corporation ("Manager"), and the shareholders of the Fund.

The Fund was organized to acquire, drill, construct and develop natural gas and
oil properties located in the United States offshore waters of Texas and
Louisiana in the Gulf of Mexico. During the third quarter the Fund has two
producing wells but it is still considered to be in the exploratory stage.

The Manger performs (or arranges for the performance of) the management and
administrative services required for Fund operations. Such services include,
without limitation, the administration of shareholder accounts, shareholder
relations and the preparation and dissemination of tax and other financial
information. In addition, the Manager provides office space, equipment and
facilities and other services necessary for Fund operations. The Manager also
engages and manages the contractual relations with outside custodians,
depositories, accountants, attorneys, broker dealers, corporate fiduciaries,
insurers, banks and others as required (Notes 2 and 3).

2. Summary of Significant Accounting Policies

     Basis of presentation

These interim financial statements have been prepared by the Fund's management,
without audit, in accordance with accounting principles generally accepted in
the United States of America and in the opinion of management, contain all
adjustments (consisting of only normal recurring adjustments) necessary to
present fairly the Fund's financial position, results of operations and cash
flows for the periods presented. Certain information and note disclosures
normally included in annual financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have
been condensed or omitted in these interim financial statements. The results of
operations, financial position, and cash flows for the periods presented herein
are not necessarily indicative of future financial results. These interim
financial statements should be read in conjunction with the annual financial
statements and the notes thereto for the period ended December 31, 2004 included
in the Fund's Registration Statement on Form 10 filed with the SEC, as it may be
amended from time to time.

     Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities as of the date
of the financial statements and the reported amounts of revenues and expenses
during the reporting period. On an ongoing basis, the Manager reviews its
estimates, including those related to environmental liabilities, impairment
allowance and determination of proved reserves. Actual results may differ from
those estimates.

     Oil and gas properties

Investments in oil and gas properties are operated by unaffiliated entities
("Operators") who are responsible for drilling, administering and producing
activities for leases jointly owned by working interest owners pursuant to the
terms of the applicable Operating Agreements. The Fund's portion of exploration,
drilling, operating and capital equipment expenditures relating to the wells are
advanced and billed by Operators through authorization for expenditures.

The successful efforts method of accounting for oil and gas producing activities
is followed. Costs to acquire mineral interests in oil and gas properties, drill
and equip exploratory wells to find proved reserves, drill and equip
developmental wells and related asset retirement costs are capitalized.

                                       7
<PAGE>

In April 2005, the Financial Accounting Standards Board (FASB) issued FASB Staff
Position FAS 19-1, "Accounting for Suspended Well Costs." FAS 19-1 has been
applied to the Fund's financial statements to the earliest period presented.
Costs of acquisition of mineral interests and drilling exploratory wells are
capitalized pending determination of whether the well has found proved reserves.
Capitalized exploratory drilling costs are assessed on a quarterly basis for
impairment of value by evaluating and monitoring if sufficient progress is made
on assessing the reserves. Capitalized costs are expensed as dry hole costs in
the event of impairment or reserves are determined to be not proved. Dry hole
costs were $5,735,349 and $6,615,615 for the three and nine months ended
September 30, 2005, respectively.

Capitalized acquisition costs of producing oil and gas properties after
recognizing estimated salvage values are depreciated and depleted by the
unit-of-production method.

     Revenue Recognition

Oil and gas sales will be recognized when delivery is made by the Operator to
the purchaser and title transferred, i.e., production has been delivered to a
pipeline or transport vehicle.

The volume of gas sold by the operator on the Fund's behalf may differ from the
volume of gas to which the Fund is entitled. The Fund accounts for such gas
production imbalances by the entitlements method. Under the entitlements method,
the Fund recognizes a receivable from other working interest owners for volumes
oversold by other working interest owners, and a payable to the other working
interest owners for volumes oversold by the Fund. Through September 30, 2005
there were no gas-balancing arrangements between the Fund and other working
interest owners.

Interest income is recognized when earned.

     Asset Retirement Obligations

For a substantial portion of the assets, there are obligations to perform
removal and remediation activities when the asset is retired. Through September
30, 2005, asset retirement obligations have been determined to be insignificant
to have a material effect on the operations of the Fund.

     Impairment of Long-Lived Assets

In accordance with the provisions of SFAS No. 144, Accounting for the Impairment
of Long-Lived Assets, the long-lived assets, such as oil and gas properties, are
evaluated when events or changes in circumstances indicate that the carrying
value of such assets may not be recoverable. The determination of whether
impairment has occurred is made by comparing the carrying value to the estimated
future undiscounted cash flows attributable to that asset. The impairment loss
recognized is the excess of the carrying value over the future discounted cash
flows attributable to the asset or the estimated fair value of the asset.

     Depletion and Amortization

Acquisition costs of proved properties are depleted (or amortized) on the basis
of units of production and total estimated units of proved, developed and
undeveloped reserves. Other capitalized costs of proved properties are depleted
(or amortized) on the basis of units of production and total estimated units of
proved developed reserves. For the three and nine months ended September 30,
2005, depletion and amortization totaled $105,694.

     Income Taxes

No provision is made for income taxes in the financial statements as the income
or losses are passed through and included in the tax returns of the individual
shareholders.

     Cash and cash equivalents

All highly liquid investments with maturities when purchased of three months or
less are considered as cash and cash equivalents. At times, bank deposits may be
in excess of federal insured limits.

                                       8
<PAGE>

     Income and Expense Allocation

Profits and losses are to be allocated 85 % to shareholders in proportion to
their relative capital contributions and 15% to the Manager, except for items of
expense, loss, deduction and credit attributable to the expenditure of
shareholders' capital contributions which are allocated 99% to shareholders and
1% to the Manager.

3. Transactions with Manager

A management agreement provides that the Manager render management,
administrative and advisory services. For such services, the Manager receives an
annual management fee, payable monthly, of 2.5% of total capital contributions
and receives 15% of distributions made by the Fund out of operating revenue (not
including cash flow from distributions and investor capital contributions) from
producing wells, less operating expenses and other expenditures relating to the
producing wells and less reserves for operating expenses, plug and abandonment
costs and certain other actual and contingent liabilities. For the three months
ended September 30, 2005 and 2004, a management fee of $321,257 and $94,762,
respectively, was paid. For the nine months ended September 30, 2005 and for the
period May 27, 2004 (Inception) through September 30, 2004, a management fee of
$963,771 and $94,762, respectively, was paid. There have been no distributions
made by the Fund through September 2005.

From time to time, short-term payables and receivables, which do not bear
interest, arise from transactions with affiliates in the ordinary course of
business. As of September 30, 2005, there were no amounts due to or from the
Manager.

The Fund co-invests with affiliated funds managed by the Manager to acquire and
develop oil and gas projects.

4. Commitment and Contingencies

     Environmental Considerations

The exploration for and development of oil and gas involves the extraction,
production and transportation of materials which, under certain conditions, can
be hazardous or cause environmental pollution problems. The Manager and the
Operators are continually taking action they believe appropriate to satisfy
applicable federal, state and local environmental regulations and do not
currently anticipate that compliance with federal, state and local environmental
regulations will have a material adverse effect upon capital expenditures,
earnings or the competitive position in the oil and gas industry. However, due
to the significant public and governmental interest in environmental matters
related to those activities, the Manager cannot predict the effects of possible
future legislation, rule changes, or governmental or private claims.

    Salvage Fund

Pursuant to the Fund's Operating Agreement, a portion of monthly net revenue
will be reserved in Salvage Funds, which will be separated into interest bearing
accounts, until a Salvage Fund contains an amount equal to the anticipated cost
of dismantling and removing production wells and platforms, in accordance with
applicable federal and state laws and regulations.

     Insurance Coverage

The Fund is subject to all risks inherent in the exploration for and development
of oil and gas. Insurance coverage as is customary for entities engaged in
similar operations is maintained, but losses may occur from uninsurable risks or
amounts in excess of existing insurance coverage. The occurrence of an event
which is not insured or not fully insured could have an adverse impact upon
earnings and financial position.

                                       9
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations

            Cautionary Statement Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q, including all documents incorporated by
reference, includes "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933, as amended (the "Securities Act") and Section
21E of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995, and the "safe harbor" provisions
thereof. These forward-looking statements are usually accompanied by the words
"anticipates," "believes," "plan," "seek," "expects," "intends," "estimates,"
"projects," "will likely result," "will continue," "future" and similar terms
and expressions. The forward-looking statements in this Quarterly Report on Form
10-Q reflect our current views with respect to future events and financial
performance. These forward-looking statements are subject to certain risks and
uncertainties, including, among other things, the high-risk nature of oil and
gas exploratory operations, the fact that our drilling activities are managed by
third parties, the volatility of natural gas prices and extraction, and those
other risks and uncertainties discussed in the Fund's Registration Statement on
Form 10 filed with the Securities and Exchange Commission that could cause
actual results to differ materially from historical results or those
anticipated. In light of these risks and uncertainties, there can be no
assurance that the forward-looking information contained in this Quarterly
Report on Form 10-Q will in fact occur or prove to be accurate. Readers should
not place undue reliance on the forward-looking statements contained herein,
which speak only as of today's date. We undertake no obligation to publicly
revise these forward-looking statements to reflect events or circumstances that
may arise after today. All subsequent written or oral forward-looking statements
attributable to us or persons acting on our behalf are expressly qualified in
their entirety by this section.

Critical Accounting Policies and Estimates

The following discussion and analysis of our financial condition and operating
results are based on our financial statements. The preparation of this Quarterly
Report on Form 10-Q requires us to make estimates and assumptions that affect
the reported amount of assets and liabilities, disclosure of contingent assets
and liabilities at the date of our financial statements, and the reported amount
of revenue and expenses during the reporting period. Actual results may differ
from those estimates and assumptions. See "Notes to Unaudited Financial
Statements" in Part I of this Form 10-Q for a presentation of the Fund's
critical accounting principles.

Overview

The Fund commenced active operations on July 1, 2004 when it began its private
offering of shares. During 2004, the Fund raised capital by selling 350.1081
shares for $51,400,840. The Fund's primary business is obtaining economic
interest in the exploration and development of oil and gas projects. The
business activities are managed by Ridgewood Energy Corporation, the Manager.
The Fund does not directly explore for, or operate, any projects. The Manager,
on behalf of the Fund, enters into operating agreements with third party
operators for the exploration and possible development of projects. These
third-party operators manage all day-to-day activities of projects, determine
expenditures and report their activities to the Manager.

Results of Operations

Net revenues for the three and nine months ended September 30, 2005 include oil
sales of $208,613 and gas sales of $1,465,896. The Fund's only producing
properties are South Timbalier 77 which consists of two wells, #4 and #5, both
of which began producing in August 2005. Millenium Offshore Group, Inc. is the
operator and the entity from which the Fund acquired the 20% working interest.
The wells have been brought up gradually from an initial rate of 20 million
cubic feet per day in August to 30 million per day in September and are now
producing at very high rates, approximately 35 million cubic feet per day. There
were no producing properties and therefore, no revenues prior to August 2005.

For the three months ended September 30, 2005 the operating loss was $4,626,822.
Expenses related to unsuccessful properties including dry hole costs and well
control insurance totaled $5,735,349 and $23,507, respectively. Management fees
of $321,257, depletion and amortization of $105,694, insurance of $55,905 and
other general and administrative expenses of $59,619 comprised the remainder of
the expenses for the quarter.

Through September 30, 2005, expenses related to unsuccessful properties included
dry hole costs of $6,615,615 and well control insurance of $23,507. Management
fees of $963,771, depletion and amortization of $105,694, insurance of $197,048
and other general and administrative expenses of $74,026 comprised the remainder
of the expenses for the period.

                                       10
<PAGE>

For the three months and period ended September 30, 2004 the loss from
operations of $2,439,751 was primarily a result of the one-time investment fee
of $2,315,967 payable to the Manager. Management fees of $94,762, insurance
expense of $25,970 and other general and administrative expenses of $3,052
comprised the remaining expenses.

Other Income

Other income, comprised solely of interest income, was $187,756 and $513,197 for
the three and nine months ended September 30, 2005, respectively. Interest
income for the three months and period ended September 30, 2004 was $36,114.
Interest is earned on non-invested capital which is held in highly liquid
investments with maturities when purchased of three months or less.

Liquidity and Capital Resources

Cash and cash equivalents decreased by $12.0 million during the nine months
ended September 30, 2005 from $36.4 million at December 31, 2004 to $24.3
million at September 30, 2005. Cash from operating activities of $0.7 million
was used to pay management fees, insurance costs and other Fund expenses which
are partially offset by cash generated from revenues and interest income.

During the period ended September 30, 2005, the Fund invested in oil and gas
properties totaling $10.8 million relating to projects, of which $6.1 million
was written off as dry hole costs and $4.7 million was capitalized to proved
properties. The Fund has committed an additional $1.3 million to exploratory
drilling costs related to the East Breaks 157 property which is included in due
to operator as of September 30, 2005.

The Manager may distribute available cash from operations which includes cash
received by the Fund from producing wells (not including cash flow from
dispositions and investor capital contributions), less operating expenses and
other cash expenditures and less reserves for operating expenses, plug and
abandonment costs and certain other actual and contingent liabilities.

Future Trends

Revenue to the Fund is sensitive to changes in price received for natural gas
production. Prevailing market prices fluctuate in response to many factors that
are outside of our control such as the supply and demand for natural gas.
Availability of alternative fuels also impacts the supply while other economic
factors may impact the demand.

High natural gas prices have resulted in a strong demand for and a tight supply
of drilling rigs necessary to drill new wells. The increased cost in daily rig
rates could have a negative impact on the return to investors in the Fund. The
shortage of drilling rigs could delay the employment of capital to such projects
and thus delay revenue from operations.

Wells drilled may not have commercially productive natural gas reservoirs. In
such an event, the Funds' revenue, future results of operations and financial
condition would be adversely impacted.

Estimated Capital Expenditures

The Fund has entered into multiple Offshore Operating Agreements for the
drilling and development of its investment properties. The estimated capital
expenditures associated with these agreements can vary depending on the stage of
development on a property-by-property basis. As of September 30, 2005, such
estimated capital expenditures total $13.2 million. If the wells are
unsuccessful, the development capital will be reallocated to one or more new
unspecified projects.

The Manager receives an annual management fee of 2.5% of total capital
contributions for administrative and advisory services as well as reimbursement
of expenses.

  Estimated Capital Expenditures
  As of September 30, 2005         Total     Less than one year       1-3 years
  Projects
       East Breaks 157  (i)       6,437,823       1,737,823           4,700,000
       Eugene Island 337 (i)      5,400,000       3,400,000           2,000,000
  Fund Expenses
       Management Fees  (ii)        963,771         963,771                   0
       Accounting & Legal  (ii)      98,115          98,115                   0
       Insurance Expense  (iii)     269,124         269,124                   0

                                       11
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     i)   Assumes the wells are commercially successful. If one or more of the
          wells is dry, the development capital will be reallocated to one or
          more new unspecified projects.
     ii)  Although the management fee and legal and accounting fees are
          typically paid from operating income, we are estimating that two years
          of expense may be spent from Fund reserves until revenue reaches such
          levels.
     iii) Insurance expense represents $38,105 annually of Directors and
          Officers coverage that is allocated equally over 12 months in addition
          to well control insurance that is expensed in the quarter the well is
          spud (starts drilling). The well control insurance expense varies by
          well based on the projected depth of the well and the Fund's working
          interest percentage in the well.
     iv)  There will be additional well control insurance which cannot be
          estimated at the current time if one of the above wells is deemed
          unsuccessful and we develop a different, unspecified project.

Cash Reserves

The Fund is maintaining cash reserves of $11.1 million to be used for cost
overruns, new projects, project development costs or Fund expenses.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

The principal market risks to which the Fund is exposed that may adversely
impact the Fund's results of operations and financial position are changes in
oil and gas prices. The Fund has no market risk sensitive instruments held for
trading purposes.

Item 4. Controls and Procedures

(a)     Evaluation of Disclosure Controls and Procedures

The Fund's Chief Executive Officer and Chief Financial Officer, with the
participation and assistance of other members of management, have evaluated the
effectiveness of the design and operation of the Fund's disclosure controls and
procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the
Securities Exchange Act of 1934, as amended) as of the end of the period covered
by Quarterly Report on Form 10-Q. Based upon that evaluation, the Fund's Chief
Executive Officer and the Chief Financial Officer have concluded that the Fund's
disclosure controls and procedures are effective, as of the end of the period
covered by this Quarterly Report on Form 10-Q.

We do not expect that our disclosure controls or our internal controls will
prevent all errors and all instances of fraud. A control system, no matter how
well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the system are met. Further, the design of a
control system must reflect the fact that there are resource constraints, and
the benefits of controls must be considered relative to their costs. Because of
the inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that we have detected all our control issues and
instances of fraud, if any. The design of any system of controls also is based
partly on certain assumptions about the likelihood of future events, and there
can be no assurance that any design will succeed in achieving its stated goals
under all potential future conditions.

(b)     Changes in Internal Control over Financial Reporting

No change in the Fund's internal control over financial reporting occurred
during the Fund's most recent fiscal quarter that has materially affected, or is
reasonably likely to materially affect, the Fund's internal control over
financial reporting.

Part II.  Other Information

Item 6.   Exhibits

    31.1  Certification of Robert E. Swanson, Chief Executive Officer, pursuant
          to Securities Exchange Act Rule 13a-14(a)

    31.2  Certification of Kathleen P. McSherry, Chief Financial Officer,
          pursuant to Securities Exchange Act Rule 13a-14(a)

    32    Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Robert E.
          Swanson, Chief Executive Officer of the Company and Kathleen P.
          McSherry, Chief Financial Officer of the Company


                                       12
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                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.


                                      RIDGEWOOD ENERGY L FUND, LLC

                                      By: /s/ Robert E. Swanson
Dated:    November 14, 2005               Robert E. Swanson
                                          President and Chief Executive Officer
                                          (principal executive officer)


                                      By: /s/  Kathleen P. McSherry
Dated:    November 14, 2005               Kathleen P. McSherry
                                          Senior Vice President and
                                          Chief Financial Officer
                                          (principal financial and accounting
                                          officer)




                                       13

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                                  EXHIBIT INDEX



    31.1  Certification of Robert E. Swanson, Chief Executive Officer, pursuant
          to Securities Exchange Act Rule 13a-14(a)

    31.2  Certification of Kathleen P. McSherry, Chief Financial Officer,
          pursuant to Securities Exchange Act Rule 13a-14(a)

    32    Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Robert E.
          Swanson, Chief Executive Officer of the Company and Kathleen P.
          McSherry, Chief Financial Officer of the Company