<PAGE>
                     U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                   Form 10-KSB

(Mark One)

[X]              ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 [Fee Required]

                   For the fiscal year ended December 31, 2003

[ ]             TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934 [No Fee Required]
                For the transition period from _______ to _______

                        Commission file number 333-90980

                       Atlas America Public #11-2002 Ltd.
                 (Name of small business issuer in its charter)

              Delaware                                  02-0600231
   --------------------------------                  -------------------
   (State or other jurisdiction of                   (I.R.S. Employer
    incorporation or organization)                   Identification No.)

               311 Rouser Road, Moon Township, Pennsylvania 15108
               (Address of principal executive offices) (Zip Code)

                    Issuer's telephone number (412) 262-2830
         Securities registered under Section 12(b) of the Exchange Act

     Title of each class         Name of each exchange on which registered

            None                                      None

         Securities registered under Section 12(g) of the Exchange Act

                                      None
                                (Title of Class)

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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
                                                                       ---   ---

         Check if there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]


         State issuer's revenues for its most recent fiscal year. $ 9,826,800

         State the aggregate market value of the voting stock held by
non-affiliates of the Registrant. Not Applicable.

         Transitional Small Business Disclosure Format (check one):

         Yes     No X
            ---    ---

                                       1
<PAGE>



                       ATLAS AMERICA PUBLIC #11-2002 LTD.
                        (A Delaware Limited Partnership)
                             INDEX TO ANNUAL REPORT
                                 ON FORM 10-KSB
<TABLE>
<CAPTION>
PART I                                                                                                           Page
------                                                                                                           ----
<S>     <C>       <C>                                                                                             <C>

     Item 1:    Business....................................................................................    3 - 5
     Item 2:    Properties..................................................................................   6 - 10
     Item 3:    Legal Proceedings...........................................................................       10
     Item 4:    Submission of Matters to a Vote of Security Holders.........................................       10

PART II
-------

     Item 5:    Market for Registrant's Common Equity and Related Security Holder Matters...................      11
     Item 6:    Management's Discussion and Analysis of Financial Condition
                and Results of Operations...................................................................  11 - 14
     Item 7:    Financial Statements........................................................................  15 - 28
     Item 8:    Changes in and Disagreements with Accountants
                on Accounting and Financial Disclosure......................................................       28
     Item 8A:   Controls and Procedures.....................................................................       28

PART III
--------

     Item 9:    Directors, Executive Officers and Significant Employees,
                     Compliance with Section (16b) of the Exchange Act......................................  29 - 31
     Item 10:   Executive Compensation......................................................................       32
     Item 11:   Security Ownership of Certain Beneficial Owners and Management..............................       32
     Item 12:   Certain Relationships and Related Transactions..............................................  32 - 33
     Item 13:   Exhibits and Reports on Form 8-K............................................................       33
     Item 14:   Principal Accountant Fees and Services......................................................       33

SIGNATURES..................................................................................................       35

CERTIFICATIONS..............................................................................................  36 - 37

</TABLE>

                                       2
<PAGE>


                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

         General. We were formed as a Delaware limited partnership on June 5,
2002, with Atlas Resources, Inc. as our managing general partner. Our operations
commenced the first quarter of 2003. We drill and operate wells located
primarily in western Pennsylvania and southern Ohio. We have no employees and
rely on our managing general partner for management. See Item 9 "Directors,
Executive Officers and Significant Employees, Compliance with Section 16(b) of
the Exchange Act."

     At December 31, 2003 we had 1,013 investors who contributed $31,178,100
that was paid to our managing general partner as operator and general drilling
contractor under our drilling and operating agreement. Our managing general
partner's contribution of $11,534,000 included leases, organization and offering
costs and equipment costs to drill and complete our wells. We drilled and
completed 160.5 net developmental wells to the Clinton/Medina geological
formation in Pennsylvania and Ohio.

     Business Strategy. Our wells are currently producing natural gas and to a
far lesser extent oil, which are our only products. Most of our gas is gathered
and delivered to market through Atlas Pipeline Partners' gas gathering system
which is managed by an affiliate of our managing general partner. We do not plan
to sell any of our wells and will continue to produce them until they are
depleted at which time they will be plugged and abandoned. No other wells will
be drilled beyond those initially drilled after our partnership formation. See
Item 2 "Properties" for information concerning our wells.

         Our ongoing operating and maintenance costs are to be fulfilled through
revenues from the sale of our gas and oil production. We pay our managing
general partner a monthly well supervision fee of $275 per well, as outlined in
our drilling and operating agreement. This well supervision fee covers all
normal and regularly recurring operating expenses for the production and sale of
gas and to a lesser extent oil, such as:

         o  well tending, routine maintenance and adjustment;

         o  reading meters, recording production, pumping, maintaining
            appropriate books and records; and

         o  preparing reports to us and to government agencies.

     The well supervision fees, however, do not include costs and expenses
related to the purchase of certain equipment, materials and brine disposal. If
these expenses are incurred, we pay at cost for third party services and
materials and a reasonable charge for services performed directly by our
managing general partner or its affiliates. Also, beginning three years after
each of our wells has been placed into production our managing general partner,
as operator, may retain $200 of our revenues per month to cover the estimated
future plugging and abandonment costs of the well.

         Markets and Competition. The availability of a ready market for natural
gas and oil produced by us, and the price obtained, depends upon numerous
factors beyond our control, including the extent of domestic production, import
of foreign natural gas and oil, political instability in oil and gas producing
countries and regions, market demand, the effect of federal regulation on the
sale of natural gas and oil in interstate commerce, other governmental
regulation of the production and transportation of natural gas and oil and the
proximity, availability and capacity of pipelines and other required facilities.
Our managing general partner is responsible for selling our natural gas
production, and its policy is to treat all wells in a given geographic area
equally. Our natural gas is being sold as discussed in Item 2, Properties -
Delivery Commitments. Historically, our managing general partner has not
experienced problems selling natural gas and oil under such commitments,
although prices we will receive will vary during and after the period, sometimes
significantly. Product availability and price are the principal means of
competition in selling natural gas and oil production. While it is impossible to
accurately determine our comparative position in the industry, we do not
consider our operations to be a significant factor in the industry. Without the
commitments discussed in Item 2, Properties - Delivery Commitments our managing
general partner may sell our gas through similar commitments to other purchasers
or at existing spot market prices.



                                       3
<PAGE>


         Governmental Regulation. The energy industry in general is heavily
regulated by federal and state authorities, including regulation of production,
environmental quality and pollution control. The intent of federal and state
regulations generally is to prevent waste, protect rights to produce natural gas
and oil between owners in a common reservoir and control contamination of the
environment. Failure to comply with regulatory requirements can result in
substantial fines and other penalties. The following discussion of the
regulations of the United States energy industry does not intend to constitute a
complete discussion of the various statutes, rules, regulations and
environmental orders to which our operations may be subject.

       Regulation of oil and gas producing activates. State regulatory agencies
where a producing natural gas well is located provide a comprehensive statutory
and regulatory scheme for oil and gas operations such as ours including
supervising the production activities and the transportation of natural gas sold
in intrastate markets. Our oil and gas operations in Pennsylvania are regulated
by the Department of Environmental Resources, Division of Oil and Gas, and our
oil and gas operations in Ohio are regulated by the Ohio Department of Natural
Resources, Division of Oil and Gas. Among other things, the regulations involve:

         o  new well permit and well registration requirements, procedures and
            fees;

         o  minimum well spacing requirements;

         o  restrictions on well locations and underground gas storage;

         o  certain well site restoration, groundwater protection and safety
            measures;

         o  landowner notification requirements;

         o  certain bonding or other security measures;

         o  various reporting requirements;

         o  well plugging standards and procedures; and

         o  broad enforcement powers.

         Environmental and Safety Regulation. Under the Comprehensive
Environmental Response, Compensation and Liability Act, the Toxic Substances
Control Act, the Resource Conservation and Recovery Act, the Oil Pollution Act
of 1990, the Clean Air Act, and other federal and state laws relating to the
environment, owners and operators of wells producing natural gas or oil, and
pipelines, can be liable for fines, penalties and clean-up costs for pollution
caused by the wells or the pipelines. Moreover, the owners' or operators'
liability can extend to pollution costs from situations that occurred prior to
their acquisition of the assets. State public utility regulators in Ohio and
Pennsylvania have either adopted federal standards or promulgated their own
safety requirements consistent with the federal regulations.

         We believe we have complied in all material respects with applicable
state regulations and do not expect that these regulations will have a material
adverse impact on our operations. Our producing activities also must comply with
various federal, state and local laws not mentioned, including those covering
the discharge of materials into the environment, or otherwise relating to the
protection of the environment. Although this compliance may cause delays or
increase our costs, currently we do not believe these costs will be substantial.
However, we cannot predict, the ultimate costs of complying with present and
future environmental laws and regulations because these laws and regulations are
constantly being revised and ultimately may have a material impact to our
operations to remain in compliance. Additionally, we cannot obtain insurance to
protect against many types of environmental claims.


                                       4
<PAGE>



Where can you find more information. We will file Form 10-KSB Annual Report and
Form 10-QSB Quarterly Report as well as other non-recurring special purpose
reports with the Securities and Exchange Commission. A complete list of our
filings is available on the Securities and Exchange Commission's website at
WWW.SEC.GOV. Any of our filings are also available at the SEC's Public Reference
Room at 450 Fifth Street, N.W., Washington, D.C. 20549. The Public Reference
Room may be contacted at 1-800- SEC-0330 for further information.

Additionally, our Managing General Partner will provide you copies of any of
these reports without charge. Such requests should be made to:


                       Atlas America Public #11-2002 Ltd.
                                 311 Rouser Road
                             Moon Township, PA 15108




                                       5
<PAGE>

ITEM 2. PROPERTIES

         Drilling Activity. At December 31, 2003 we drilled and completed 160.5
net wells. All the wells drilled were development wells, which means a well
drilled within the proved area of an oil or gas reservoir to the depth of a
stratigraphic horizon known to be productive. All wells were drilled during
2003. We do not expect to drill any wells in future years.
<TABLE>
<CAPTION>
                                                                  Development Wells
                                       ------------------------------------------------------------------------
                                                 Productive (1)                           Dry (2)
                                       -----------------------------------    ---------------------------------
                                          Gross (3)           Net (4)           Gross (3)           Net (4)
                                       ----------------   ----------------    ---------------    --------------
<S>                                          <C>                <C>                <C>                <C>
Period Ending December 31, 2003              167               160.5                -                  -
</TABLE>

------------
(1)  A "productive well" generally means a well that is not a dry hole.
(2)  A "dry hole" generally means a well found to be incapable of producing
     either oil or gas in sufficient quantities to justify completion as an oil
     or gas well. The term "completion" refers to the installation of permanent
     equipment for the production of oil or gas or, in the case of a dry hole,
     to the reporting of abandonment to the appropriate agency.
(3)  A "gross" well is a well in which we have a working interest.
(4)  A "net" well equals the actual working interest we own in one gross well
     divided by one hundred. For example, a 50% working interest in a well is
     one gross well, but a .50 net well.

         Summary of Productive Wells. The table below shows the number of our
productive gross and net wells at December 31, 2003 in which we have a working
interest. All of our wells are classified as gas wells.
<TABLE>
<CAPTION>
                                                           Number of Productive Wells
                                                           --------------------------
                            Location                        Gross               Net
                            --------                        -----              -----
              <S>                                             <C>              <C>
         Pennsylvania                                         162              155.5
         Ohio...........................................        5                5
                                                              ---              -----
            Total.......................................      167              160.5
                                                              ===              =====
</TABLE>



         Production. The following table shows the quantities of natural gas and
oil produced (net to our interest), average sales price, and average production
(lifting) cost per equivalent unit of production for the period indicated.

<TABLE>
<CAPTION>
                                  Production                       Average Sales Price
                       ----------------------------------    --------------------------------     Average Production
 Year                                                                                            Cost (Lifting Cost)
 Ended                    Oil (bbls)        Gas (mcf)             per bbl         per mcf          per mcfe (1) (2)
-------                   ----------       ----------           ----------       ---------       --------------------
<S>                        <C>             <C>                  <C>              <C>                   <C>
 2003                      14,200          1,840,600            $  27.71         $    5.12             $  .60
</TABLE>
------------
(1)  "Mcf" means one thousand cubic feet of natural gas. "Mcfe" means one
     thousand cubic feet equivalent. Oil production is converted to mcfe at the
     rate of six mcf per barrel ("bbl").
(2)  Lifting costs include labor to operate the wells and related equipment,
     repairs, and maintenance, materials and supplies, property taxes, insurance
     and gathering charges.

                                       6
<PAGE>


         Natural Gas and Oil Reserve Information. The following tables summarize
information regarding our estimated proved natural gas and oil reserves as of
the dates indicated. All of our reserves are located in the United States. We
base our estimates relating to our proved natural gas reserves and future net
revenues of natural gas reserves upon internally prepared reports. In accordance
with SEC guidelines, we make the SEC PV-10 estimates of future net cash flows
from proved reserves using natural gas sales prices in effect as of the dates of
the estimates which are held constant throughout the life of the properties. We
based our estimates of proved reserves upon the following year-end weighted
average prices:

         At December 31,                                   2003          2002
                                                        ---------      --------
         Natural gas (per mcf).......................   $    6.71      $   5.15
         Oil (per bbl)...............................   $   29.25      $      -

         Reserve estimates are imprecise and may change as additional
information becomes available. Furthermore, estimates of natural gas and oil
reserves, of necessity, are projections based on engineering data. There are
uncertainties inherent in the interpretation of this data as well as the
projection of future rates of production and the timing of development
expenditures. Reservoir engineering is a subjective process of estimating
underground accumulations of natural gas and oil that cannot be measured in an
exact way and the accuracy of any reserve estimate is a function of the quality
of available data and of engineering and geological interpretation and judgment.
Reserve reports of other engineers might differ from the reports we prepared.
Results of drilling, testing and production subsequent to the date of the
estimate may justify revision of this estimate. Future prices received from the
sale of natural gas may be different from those we estimated in preparing our
reports. The amounts and timing of future operating, development and abandonment
costs may also differ from those used. Accordingly, the reserves set forth in
the following tables ultimately may not be produced and the proved undeveloped
reserves may not be developed within the periods anticipated. You should not
construe the estimated PV-10 values as representative of the fair market value
of our proved natural gas properties. PV-10 values are based upon projected cash
inflows, which do not provide for changes in natural gas and oil prices or for
escalation of expenses and capital costs. The meaningfulness of these estimates
depends upon the accuracy of the assumptions upon which they were based.

         We evaluate natural gas reserves at constant temperature and pressure.
A change in either of these factors can affect the measurement of natural gas
reserves. We deducted when applicable, operating costs, development costs and
production-related and ad valorem taxes in arriving at the estimated future cash
flows. We made no provision for income taxes, and based the estimates on
operating methods and conditions prevailing as of the dates indicated. We cannot
assure you that these estimates are accurate predictions of future net cash
flows from natural gas reserves or their present value. For additional
information concerning our natural gas reserves and estimates of future net
revenues, see notes to our Financial Statements.


                                       7
<PAGE>
<TABLE>
<CAPTION>

         At December 31,                                                  2003                  2002
                                                                         ------                ------
         <S>                                                         <C>                   <C>
         Natural gas reserves - Proved Reserves (Mcf)(1)(5):
            Proved developed reserves (2)........................      10,191,900                     -
            Proved undeveloped reserves (3)......................               -             2,333,025
                                                                     ------------           -----------
              Total proved reserves of natural gas...............      10,191,900             2,333,025

         Oil reserves - Proved Reserves (Bbl)(1)(5)
            Proved developed reserves (2)........................          65,600
            Proved undeveloped reserves (3)......................               -                     -
                                                                     ------------           -----------
              Total proved reserves of oil.......................          65,600                     -
                                                                     ------------           -----------

         Total proved reserves (Mcfe)                                  10,585,500             2,333,025
                                                                     ============           ===========

         PV-10 estimate of cash flows of proved reserves (4)(5):
            Proved developed reserves............................    $ 27,836,600           $         -
            Proved undeveloped reserves..........................               -             5,134,800
                                                                     ------------           -----------
              Total PV-10 estimate...............................    $ 27,836,600           $ 5,134,800
                                                                     ============           ===========
</TABLE>
------------
(1)  "Proved reserves" generally means the estimated quantities of crude oil,
     natural gas, and natural gas liquids which geological and engineering data
     demonstrate with reasonable certainty to be recoverable in future years
     from known reservoirs under existing economic and operating conditions,
     i.e., prices and costs as of the date the estimate is made. Prices include
     consideration of changes in existing prices provided by contractual
     arrangements, but not escalations based on future conditions. Reservoirs
     are considered proved if economic production is supported by either actual
     production or conclusive formation test. The area of a reservoir considered
     proved includes: that portion delineated by drilling and defined by gas-oil
     and/or oil-water contacts, if any; and the immediately adjoining portions
     not yet drilled, but which can be reasonably judged as economically
     productive on the basis of available geological and engineering data.

(2)  "Proved developed oil and gas reserves" generally means reserves that can
     be expected to be recovered through existing wells with existing equipment
     and operating methods.

(3)  "Proved undeveloped reserves" generally means reserves that are expected to
     be recovered either from new wells on undrilled acreage or from existing
     wells where a relatively major expenditure is required for recompletion.
     Reserves on undrilled acreage are limited to those drilling units
     offsetting productive units that are reasonably certain of production when
     drilled.

(4)  The present value of estimated future net cash flows is calculated by
     discounting estimated future net cash flows by 10% annually.

(5)  Please see Regulation S-X rule 4-10 for complete definitions of each
     reserve category.

         We have not filed any estimates of our oil and gas reserves with, nor
 were such estimates included in any reports to, any Federal or foreign
 governmental agency other than the SEC within the 12 months before the date of
 this filing. For additional information concerning oil and gas reserves and
 activities, see the notes to our Financial Statements.


                                       8

<PAGE>


Title to Properties. We believe that we hold good and indefeasible title to our
properties, in accordance with standards generally accepted in the natural gas
industry, subject to exceptions stated in the opinions of counsel employed by us
in the various areas in which we conduct our activities. We do not believe that
these exceptions detract substantially from our use of any property. As is
customary in the natural gas industry, we conduct only a perfunctory title
examination at the time we acquire a property. Before we commence drilling
operations, we conduct an extensive title examination and we perform curative
work on defects that we deem significant. We have obtained title examinations
for substantially all of our managed producing properties. No single property
represents a material portion of our holdings.

         Our properties are subject to royalty, overriding royalty and other
outstanding interests customary in the industry. Our properties are also subject
to burdens such as liens incident to operating agreements, taxes, development
obligations under natural gas and oil leases, farm-out arrangements and other
encumbrances, easements and restrictions. We do not believe that any of these
burdens will materially interfere with our use of our properties.

       Acreage. The table below shows the estimated acres of developed and
undeveloped oil and gas acreage in which we have an interest by state at
December 31, 2003.
<TABLE>
<CAPTION>
                                            Developed Acreage             Undeveloped Acreage (3)
                                       ---------------------------        ------------------------
Location                               Gross (1)           Net (2)          Gross            Net
--------                               ---------           -------         --------         -----
<S>                                       <C>                <C>             <C>             <C>
  Pennsylvania....................        4,465              4,370            -               -
  Ohio............................          100                100            -               -
                                        -------            -------          ----            ----
     Total........................        4,565              4,470            -               -
                                        =======            =======          ====            ====
</TABLE>
------------
(1)  A "gross" acre is an acre in which we own a working interest.
(2)  A "net" acre equals the actual working interest we own in one gross acre
     divided by one hundred. For example, a 50% working interest in an acre is
     one gross acre, but a .50 net acre.
(3)  "Undeveloped acreage" is those lease acres on which wells have not been
     drilled or completed to a point that would permit the production of
     commercial quantities of oil and gas regardless of whether or not the
     acreage contains proved reserves.

   Delivery Commitments. Our managing general partner, Resource Energy, Inc. and
Atlas Energy Group, Inc, both of which are affiliates of our managing general
partner, have a natural gas supply agreement with First Energy Solutions
Corporation for a 10-year term, which began on April 1, 1999. Substantially all
of our gas is sold through this agreement. Subject to certain exceptions, First
Energy Solutions Corporation has a last right of refusal to buy all of the
natural gas produced and delivered by the managing general partner, its
affiliates and partnerships at certain delivery points with the facilities of
East Ohio Gas Company, National Fuel Gas Distribution, Columbia of Ohio, and
Peoples Natural Gas Company, which are local distribution companies; and
National Fuel Gas Supply, Columbia Gas Transmission Corporation, Tennessee Gas
Pipeline Company, and Texas Eastern Transmission Company, which are interstate
pipelines.

First Energy Solutions Corporation is the marketing affiliate of First Energy
Corporation, which is based in Akron, Ohio and is a large regional electric
utility listed on the New York Stock Exchange and trading under the symbol (FE).
First Energy Corporation has provided a guaranty of the monetary obligations of
First Energy Solutions Corporation of an amount up to $15 million for a period
until March 31, 2005, which will continue on a monthly basis thereafter unless
terminated on 30 days notice. As of January 1, 2004, this guaranty would cover
natural gas sales of all the managing general partner's partnerships for
approximately 85 days of sales.

The pricing arrangements with First Energy Solutions Corporation and other third
parties are tied to the New York Mercantile Exchange Commission ("NYMEX")
monthly futures contract price, which is reported daily in the Wall Street
Journal. The total price received for each partnership's gas is a combination of
the monthly NYMEX futures price plus a fixed basis. For example, the NYMEX
futures price is the base price and there is an additional premium paid because
of the location of the gas (the Appalachian Basin) in relation to the gas market



                                       9
<PAGE>



which is referred to as the basis. The premium over quoted prices on the NYMEX
received by the managing general partner and its affiliates has ranged between
$0.33 to $0.46 per Mcf during the past three fiscal years. The agreement with
First Energy Solutions Corporation may be suspended for force majeure, which
means generally such things as an act of God, fire, storm, flood, and explosion,
but also includes the permanent closing of the factories of Carbide Graphite or
Duferco Farrell Corporation during the term of First Energy Solutions
Corporation's agreements to sell natural gas to them. If these factories were
closed, however, the managing general partner believes that First Energy
Solutions Corporation would be able to find alternative purchasers and would not
invoke the force majeure.

Pricing for natural gas and oil has been volatile and unpredictable for many
years. The agreement with First Energy Solutions Corporation also permits the
managing general partner and its affiliates to implement gas price hedges
through First Energy Solutions Corporation. First Energy Solutions Corporation
and the other third-party marketers also use NYMEX based financial instruments
to hedge their pricing exposure and make price-hedging opportunities available
to the managing general partner. The majority of the managing general partner's
hedges are implemented through its natural gas purchasers. These transactions
are similar to NYMEX based futures contracts, swaps and options, but also
require firm delivery of the hedged quantity. Thus, the managing general partner
limits these arrangements to much smaller quantities than those projected to be
available at any delivery point. The price paid by First Energy Solutions
Corporation and any other third-party marketers for certain volumes of natural
gas sold under these hedge agreements may be significantly different from the
underlying monthly spot market value. Additionally, to limit the managing
general partner's and its partnerships' exposure to changes in natural gas
prices the managing general partner uses hedges through contracts including
regulated NYMEX futures and options contracts and non-regulated over-the-counter
futures contracts with qualified counterparties. The futures contracts employed
by the managing general partner are commitments to purchase or sell natural gas
at future dates and generally cover one-month periods for up to 24 months in the
future. The overall portion of our natural gas portfolio that is hedged changes
from time to time.

 To assure that all financial instruments will be used solely for hedging price
risks and not for speculative purposes, the managing general partner has
established a committee to assure that all gas prices hedges, either those
through a third party marketer or through contracts are done in compliance with
the managing general partner's hedging policies and procedures. The managing
general partner does not intend to contract for positions that it cannot offset
with actual production.

We are not required to provide any fixed and determinable quantities of gas
under any agreement other than agreements that are a consequence of limited
hedging agreements with First Energy Solutions Corporation, For the next twelve
months, our managing general partner anticipates that approximately 75% of our
natural gas will be sold to First Energy Solutions Corporation and the balance
to the other markets.



ITEM 3.  LEGAL PROCEEDINGS

         None.


ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

         None.



                                       10
<PAGE>


                                     PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED SECURITY
         HOLDER MATTERS

         Market Information. There is no established public trading market for
our units and we do not anticipate a market will develop. Our units may be
transferred only in accordance with the provisions of Article VI of our
partnership agreement which require that:

         o  our managing general partner consent;

         o  the transfer not result in materially adverse tax consequences to
            us; and

         o  the transfer not violate federal or state securities laws.

         An assignee of a unit may become a substituted partner only on meeting
the following conditions:

         o  the assignor gives the assignee the right;

         o  our managing general partner consents to the substitution;

         o  the assignee pays to us all costs and expenses incurred in
            connection with the substitution; and

         o  the assignee executes and delivers the instruments which our
            managing general partner requires to effect the substitution and to
            confirm his or her agreement to be bound by the terms of our
            partnership agreement.

         A substitute partner is entitled to all of the rights of full ownership
of the assigned units, including the right to vote.

         Holders. As of December 31, 2003, we had 1,013 interest holders.

         Distributions. Our managing general partner reviews our accounts
quarterly to determine whether cash distributions are appropriate and the amount
to be distributed, if any. We distribute those funds, which our managing general
partner determines are not necessary for us to retain, to our partners and the
other participants. We will not advance or borrow for purposes of distributions
if the amount of the distributions would exceed our accrued and received
revenues for the previous four quarters, less paid and accrued operating costs
with respect to the revenues.

        The determination of the revenues and costs will be made in accordance
with generally accepted accounting principles, consistently applied, and cash
distributions to our managing general partner may only be made in conjunction
with distributions to you and the other participants. During the calendar year
ended December 31, 2003, we distributed the following:

         o  $2,727,100 to our limited partners
         o  $1,404,800 to our managing general partner

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

        Forward-Looking Statements. When used in this Form 10-KSB, the words
"believes" "anticipates" "expects" and similar expressions are intended to
identify forward-looking statements. Such statements are subject to certain
risks and uncertainties more particularly described in Item 1 of this report.
These risks and uncertainties could cause actual results to differ materially.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. We undertake no obligation
to publicly release the results of any revisions to forward-looking statements
which we may make to reflect events or circumstances after the date of this Form
10-KSB or to reflect the occurrence of unanticipated events.

         Management's discussion and analysis should be read in conjunction with
our Financial Statements and the notes to our Financial Statements.



                                       11
<PAGE>


         Our producing operations commenced the first quarter of 2003. Our wells
are drilled primarily in western Pennsylvania and southern Ohio. Funds
contributed by our investor partners and our managing general partner after our
formation were the only funds available to us for drilling activities, no other
wells will be drilled after this initial group of 160.5 net wells.

         Our ongoing operating and maintenance costs are fulfilled through
revenues from the sale of our gas and oil production. Although we do not
anticipate a shortfall to pay for our ongoing expenses, if one were to occur,
funds will be borrowed from our managing general partner or its affiliates,
which are not contractually committed to make a loan. The amount we may borrow
may not at any time exceed 5% of our total subscriptions and no borrowings will
be obtained from third parties.

         We have not and will not devote any funds to research and development
activities and no new products or services will be introduced. We do not plan to
sell any of our wells and will continue to produce them until they are depleted
at which time they will be plugged and abandoned. We have no employees and rely
on our managing general partner for management. See Item 9 "Directors, Executive
Officers and Significant Employees, Compliance With Section 16(A) of the
Exchange Act."

         After formation, our only financing activity through December 31, 2003,
has been our capital contributions by our managing general partner and the
investor partners.

         Results of Operations. The following table sets forth information
relating to revenues recognized and costs and expenses incurred, daily
production volumes, average sales prices and production cost per equivalent unit
during the period indicated:
<TABLE>
<CAPTION>
                                                                       Year Ended
                                                                       December 31,
                                                                          2003
                                                                      -------------
<S>                                                                        <C>
Revenues (in thousands):
     Gas(1)(2).................................................        $   9,432
     Oil.......................................................        $     393
Production volumes:
     Gas (thousands of cubic feet (mcf)/day)...................            5,043
     Oil (barrels (bbls)/day)..................................               39
Average sales price:
     Gas (per mcf).............................................        $    5.12
     Oil (per bbl).............................................        $   27.71
Production costs:
     As a percent of sales.....................................              12%
     Per equivalent mcf........................................        $     .60

</TABLE>
------------
(1)  Excludes sales of residual gas and sales to landowners.
(2)  The average sales price per (mcf) before the effects of hedging was $5.56
     for the year ended December 31, 2003.

         Recently issued Financial Accounting Standards. In April 2003 the
Financial Accounting Standards Board ("FASB") issued SFAS No. 149 ("SFAS 149")
"Amendment of Statement 133 on Derivative Instruments and Hedging Activates."
SFAS 149 is effective for contracts entered into or modified after June 30, 2003
and amends and clarifies financial accounting and reporting for derivative
instruments. The adoption of SFAS 149 did not have an effect on the
Partnership's financial position or results of operations.


                                       12
<PAGE>

         In May 2003, the FASB issued Statement No. 150 ("SFAS 150") "Accounting
for Certain Financial Instruments with Characteristics of Both Liabilities and
Equity." SFAS 150 requires that certain instruments that were previously
classified as equity on a Company's statement of financial position now be
classified as liabilities. SFAS 150 is effective for financial instruments
entered into or modified after May 31, 2003, and otherwise is effective at the
beginning of the first interim period beginning after June 15, 2003. The
adoption of SFAS 150 did not have an impact on the Partnership's results of
operations or financial position.

         Critical Accounting Policies. The discussion and analysis of our
financial condition and results of operations are based upon our financial
statements, which have been prepared in accordance with accounting principles
generally accepted in the United States of America. The preparation of these
financial statements requires us to make estimates and judgments that affect the
reported amounts of our assets, liabilities, revenues and cost and expenses, and
related disclosure of contingent assets and liabilities. On an on-going basis,
we evaluate our estimates, including those related to oil and gas reserves and
certain accrued liabilities. We base our estimates on historical experience and
on various other assumptions that we believe reasonable under the circumstances,
the results of which form the basis for making judgments about the carrying
values of assets and liabilities that are not readily apparent from other
sources. Actual results may differ from these estimates under different
assumptions or conditions.

         We have identified the following policies as critical to our business
operations and the understanding of our results of operations. For a detailed
discussion on the application of these and other accounting policies, see Note 2
of the "Notes to Financial Statements" in Item 7 of this report.

         Reserve Estimates. Our estimates of our proved natural gas and oil
reserves and future net revenues from them will be based upon reserve analyses
that rely upon various assumptions, including those required by the SEC, as to
natural gas and oil prices, drilling and operating expenses, capital
expenditures, abandonment costs, taxes and availability of funds. Any
significant variance in these assumptions could materially affect the estimated
quantity of our reserves. As a result, our estimates of our proved natural gas
and oil reserves will be inherently imprecise. Actual future production, natural
gas and oil prices, revenues, taxes, development expenditures, operating
expenses and quantities of recoverable natural gas and oil reserves may vary
substantially from our estimates or estimates contained in the reserve reports.
In addition, our proved reserves may be subject to downward or upward revision
based upon production history, results of future exploration and development,
prevailing natural gas and oil prices, mechanical difficulties, governmental
regulation and other factors, many of which are beyond our control.

         Impairment of Oil and Gas Properties. We will review our producing oil
and gas properties for impairment on an annual basis and whenever events and
circumstances indicate a decline in the recoverability of their carrying values.
We will estimate the expected future cash flows from our oil and gas properties
and compare such future cash flows to the carrying amount of the oil and gas
properties to determine if the carrying amount is recoverable. If the carrying
amount exceeds the estimated undiscounted future cash flows, we will adjust the
carrying amount of the oil and gas properties to their fair value in the current
period. The factors used to determine fair value include, but are not limited
to, estimates of reserves, future production estimates, anticipated capital
expenditures, and a discount rate commensurate with the risk associated with
realizing the expected cash flows projected. Given the complexities associated
with oil and gas reserve estimates and the history of price volatility in the
oil and gas markets, events may arise that will require us to record an
impairment of our oil and gas properties and there can be no assurance that such
impairments will not be required in the future.

         Classification of mineral rights. Oil and gas properties include
mineral rights with an estimated cost of $695,700. The provisions of Statement
of Financial Accounting Standards No. 141 ("SFAS 141") "Business Combinations",
suggest that mineral rights may, in fact, be more appropriately classified as
intangible assets.

         The staff of the Securities and Exchange Commission has made the
Partnership aware that an issue has arisen within the industry regarding the
application of provisions of SFAS No. 142 "Goodwill and Intangible Assets" and
SFAS No. 141 to entities in extractive industries, including gas and oil limited
partnerships. The issue is whether SFAS No. 142 requires entities to reclassify
costs associated with mineral rights, including both proved and unproved
leasehold acquisition costs, as intangible assets on the balance sheet, apart
from other capitalized gas and oil property costs. The Partnership has included

                                       13
<PAGE>

the cost of these oil and gas leasehold interests as part of oil and gas
properties. Also under consideration is whether SFAS No. 142 requires companies
to provide the additional disclosures prescribed by SFAS No. 142 for intangible
assets for costs associated with mineral rights.

         If it is ultimately determined that SFAS No. 142 requires the
Partnership to reclassify costs associated with mineral rights from property and
equipment to intangible assets, the reclassification of these amounts would not
affect the method in which such costs are amortized or the manner in which the
Partnership assesses impairment of capitalized costs. As a result, net income
and cash flow would not be affected by the reclassification.


                                       14

<PAGE>


ITEM 7.  FINANCIAL STATEMENTS


               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
               --------------------------------------------------

To the Partners
Atlas America Public #11-2002 Ltd.
A Delaware Limited Partnership

We have audited the accompanying balance sheets of Atlas America Public #11-2002
Ltd., A Delaware Limited Partnership, as of December 31, 2003 and 2002, and the
related statements of operations, changes in partners' capital accounts and cash
flows for the year ended December 31, 2003 and the period June 5, 2002 (date of
formation) to December 31, 2002. These financial statements are the
responsibility of the Partnership's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Atlas America Public #11-2002
Ltd. as of December 31, 2003 and 2002 and the results of its operations and cash
flows for the year ended December 31, 2003 and the period June 5, 2002 (date of
formation) to December 31, 2002, in conformity with accounting principles
generally accepted in the United States of America.



/s/ Grant Thornton LLP

Cleveland, Ohio
February 26, 2004




                                       15
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
                                 BALANCE SHEETS
                           December 31, 2003 and 2002
<TABLE>
<CAPTION>

                                                                                 2003                    2002
                                                                            --------------           --------------
               <S>                                                                <C>                     <C>
                                     ASSETS

        Current Assets:
        Cash                                                                $    1,633,300           $         100
        Accounts receivable-affiliate                                            2,798,800                       -
                                                                            --------------           -------------
            Total current assets                                                 4,432,100                     100

        Oil and gas properties (successful efforts)                             38,725,300              31,849,600
            Less accumulated depletion and depreciation                         (5,632,100)                      -
                                                                            --------------           -------------
                                                                                33,093,200              31,849,600
                                                                            --------------           -------------
                                                                            $   37,525,300           $  31,849,700
                                                                            ==============           =============

                        LIABILITIES AND PARTNERS' CAPITAL

        Current Liabilities:
        Accrued liabilities                                                 $        3,500           $           -
                                                                            --------------           -------------
            Total current liabilities                                                3,500                       -

        Asset retirement obligation                                                731,400                       -

        Partners' capital:
           Managing general partner                                              7,457,200                 671,600
           Limited partners (3,126.55 units)                                    29,333,200              31,178,100
                                                                            --------------           -------------
                                                                                36,790,400              31,849,700
                                                                            --------------           -------------
                                                                            $   37,525,300           $  31,849,700
                                                                            ==============           =============
</TABLE>



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


                                       16
<PAGE>



                 ATLAS-ENERGY FOR THE NINETIES - PUBLIC #11 LTD.
                      (A Pennsylvania Limited Partnership)

                             STATEMENT OF OPERATIONS
                      For the year ended December 31, 2003

<TABLE>
<CAPTION>

                                                                                     December 31,
                                                                                        2003
                                                                                  ----------------
            <S>                                                                          <C>
         REVENUES
         Natural gas and oil sales.................................               $    9,825,300
         Interest income................................                                   1,500
                                                                                  --------------
               Total revenues......................................                    9,826,800

         COSTS AND EXPENSES
         Production expenses.......................................                    1,146,200
         Depletion and depreciation of oil and gas properties......                    5,632,100
         Accretion of asset retirement obligation..................                       41,400
         General and administrative expenses.......................                      120,200
                                                                                  --------------
                  Total expenses...................................                    6,939,900
                                                                                  --------------
                        Net earnings (loss)                                       $    2,886,900
                                                                                  ==============


         Allocation of net earnings (loss):
            Managing general partner...............................               $    2,004,700
                                                                                  ==============
            Limited partners.......................................               $      882,200
                                                                                  ==============
                Net earnings (loss) per limited partnership unit...               $          282
                                                                                  ==============

</TABLE>





    The accompanying notes are an integral part of these financial statements

                                       17

<PAGE>



                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
               STATEMENTS OF CHANGES IN PARTNERS' CAPITAL ACCOUNTS
                    For the year ended December 31, 2003 and
        The period June 5, 2002 (date of formation) to December 31, 2002
<TABLE>
<CAPTION>
                                                                  Managing
                                                                  General            Other
                                                                  Partner           Partners             Total
                                                             ---------------     --------------      --------------

<S>                                                                 <C>                 <C>                 <C>
Balance at June 5, 2002                                      $            -      $            -      $            -

Partners' Capital Contributions
     Cash                                                               100          31,178,100          31,178,200
     Syndication and offering costs                               4,676,700                   -           4,676,700
     Leasehold costs                                                671,500                   -             671,500
                                                             --------------      --------------      --------------
                                                                  5,348,300          31,178,100          36,526,400

Syndication and offering                                         (4,676,700)                  -          (4,676,700)
                                                             --------------      --------------      --------------


Balance at December 31, 2002                                 $      671,600      $   31,178,100      $   31,849,700
                                                             --------------      --------------      --------------

   Participation in revenue and expenses:
       Net production revenues                                    2,950,900           5,728,200           8,679,100
       Interest Income                                                  500               1,000               1,500
       Depletion and depreciation                                  (891,700)         (4,740,400)         (5,632,100)
       Accretion of asset retirement obligation                     (14,100)            (27,300)            (41,400)
       General and administrative                                   (40,900)            (79,300)           (120,200)
                                                             --------------      --------------      --------------

                   Net Earnings                                   2,004,700             882,200           2,886,900

Distributions to partners                                        (1,404,800)         (2,727,100)         (4,131,900)
Contributions from partners                                       6,185,700                   -           6,185,700
                                                             --------------      --------------      --------------

Balance at December 31, 2003                                 $    7,457,200      $   29,333,200      $   36,790,400
                                                             ==============      ==============      ==============
</TABLE>



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


                                       18
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
                            STATEMENTS OF CASH FLOWS

         For the year ended December 31 2003, and the period June 5, 2002 (date
of formation) to December 31, 2002
<TABLE>
<CAPTION>
                                                                                     2003               2002
                                                                                -------------       ------------
<S>                                                                                   <C>                 <C>
Cash Flows from Operating Activities:
Net Earnings (loss)                                                             $   2,886,900       $         -
   Adjustments to reconcile net earnings (loss) to net cash provided by
      operating activities:
          Depletion and depreciation                                                5,632,100                 -
          Accretion of asset retirement obligation                                     41,400                 -
          Organization costs                                                                -                 -
          Increase in accounts receivable - affiliate                              (2,798,800)                -
          Increase in accrued liabilities                                               3,500                 -
                                                                                -------------       -----------

               Net cash provided by operating activities                            5,765,100                 -

Cash Flows from Investing Activities:
   Oil and gas well drilling contracts paid to
      Managing General Partner                                                              -       (31,178,100)
                                                                                -------------       -----------

               Net cash used in investing activities                                        -       (31,178,100)

Cash Flows from Financing Activities:
   Partners' capital contributions, net of syndication and offering costs                   -        31,178,200
   Capital distributions                                                           (4,131,900)                -
                                                                                -------------       -----------

               Net cash (used in) provided by financing activities                 (4,131,900)       31,178,200

               Net increase in cash                                                 1,633,200               100

    Cash at beginning of period                                                           100                 -

                                                                                -------------       -----------
    Cash at end of period                                                       $   1,633,300       $       100
                                                                                =============       ===========

Supplemental Schedule of Noncash Activities:
-------------------------------------------
   Assets contributed by Managing General Partner
      Lease costs, included in oil and gas properties                           $      24,200       $   671,500
      Syndication and offering costs, immediately charged to capital                        -         4,676,700
      Tangible equipment costs included in oil and gas properties                   6,161,500                 -
   Asset retirement obligation and costs                                              690,000                 -
                                                                                -------------       -----------
                                                                                $   6,875,700       $ 5,348,200
                                                                                =============       ===========
</TABLE>


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

                                       19
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                       ---------------------------------
                        (A Delaware Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE 1 - NATURE OF OPERATIONS

        Atlas America Public #11-2002 Ltd. (the "Partnership") is a Delaware
Limited Partnership which includes Atlas Resources, Inc. ("Atlas") of
Pittsburgh, Pennsylvania, as Managing General Partner and Operator, and
subscribers to units as either Limited Partners or Investor General Partners
depending upon their election. As of December 31, 2003, there were 1,013 limited
partner investors who contributed $31,178,100. The Partnership was formed on
June 5, 2002 to drill and operate gas wells located primarily in western
Pennsylvania and southern Ohio. Operations commenced in the first quarter of
2003.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         A summary of significant accounting policies applied in the preparation
of the accompanying financial statements follows:

        Basis of Accounting
        -------------------

        The financial statements are prepared in accordance with accounting
principles generally accepted in the United States of America.

       Use of Estimates
       ----------------

       Preparation of the 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 the disclosure of contingent assets and liabilities
as of the date of the consolidated financial statements and the reported amounts
of revenues and costs and expenses during the reporting period. Actual results
could differ form these estimates.

       Impairment of Long Lived Assets
       --------------------------------

       The Partnership reviews its long-lived assets for impairment whenever
events or circumstances indicate that the carrying amount of an asset may not be
recoverable. If it is determined that an asset's estimated future cash flows
will not be sufficient to recover its carrying amount, an impairment charge will
be recorded to reduce the carrying amount for that asset to its estimated fair
value.

                                       20
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

       Oil and Gas Properties
       ----------------------

       Oil and gas properties consist of the following:

<TABLE>
<CAPTION>
                                                                 At December 31,         At December 31,
                                                                      2003                    2002
                                                                 ---------------         ---------------
<S>                                                               <C>                      <C>
Oil and gas well drilling contracts                               $          -             $ 31,178,100
Mineral interest in properties:
     Proved properties                                                 695,700                  671,500
Wells and related equipment                                         38,029,600                        -
                                                                  ------------             ------------
                                                                    38,725,300               31,849,600

Accumulated depreciation, depletion, amortization and
  valuation allowances:
     Oil and gas properties                                         (5,632,100)                       -
                                                                  ------------             ------------
                                                                  $ 33,093,200             $ 31,849,600
                                                                  ============             ============
</TABLE>


       The Partnership uses the successful efforts method of accounting for oil
and gas producing activities. Costs to acquire mineral interests in oil and gas
properties and to drill and equip wells are capitalized. Costs of exploratory
wells which do not find proved reserves are expensed. Depreciation and depletion
is computed on a field-by-field basis by the unit of production method based on
periodic estimates of oil and gas reserves.

       Oil and gas properties include mineral rights with a cost at December 31,
2003 of $695,700 before accumulated depletion. The Partnership became aware that
an issue has arisen within the industry regarding the application of the
provisions of Statement of Financial Accounting Standards ("SFAS") No. 142,
"Goodwill and Other Intangible Assets" and SFAS No. 141, "Business
Combinations," to entities in the extractive industries, including gas and oil
partnerships. The issue is whether SFAS No. 142 requires entities to reclassify
costs associated with mineral rights, including both proved and unproved
leasehold acquisition costs, as intangible assets in the balance sheet, apart
from other capitalized gas and oil property costs. The Partnership included the
cost of these leasehold interests as part of oil and gas properties. Also under
consideration is whether SFAS No. 142 requires companies to provide the
additional disclosures prescribed by SFAS No. 142 for intangible assets for
costs associated with mineral rights.

       If it is ultimately determined that SFAS No. 142 requires the Partnership
to reclassify costs associated with mineral rights from property and equipment
to intangible assets, the reclassification of these amounts would not affect the
method in which such costs are amortized or the manner in which the Partnership
assesses impairment of capitalized costs. As a result, net income and cash flow
would not be affected by the reclassification.

       The Partnership assesses proved properties periodically to determine
whether there has been a decline in value and, if a decline is indicated, a loss
is recognized through an impairment charge. The Partnership compares the
carrying value of its proved developed gas and oil producing properties to the
estimated future cash flow from such properties in order to determine whether
their carrying values should be reduced. No impairment was recorded in fiscal
year 2003.


                                       21

<PAGE>

                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

       NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)


       Upon the sale or retirement of a complete or partial unit of a proved
property, the cost and related accumulated depletion are eliminated from the
property accounts, and the resultant gain or loss is recognized in the statement
of operations.

       Depreciation, Depletion and Amortization
       ----------------------------------------

       The Partnership amortizes proved gas and oil properties, which include
intangible drilling and development costs, tangible well equipment and leasehold
costs, on the unit-of-production method using the ratio of current production to
the estimated aggregate proved developed gas and oil reserves.

       Asset Retirement Obligation
       ---------------------------

       The Partnership records an estimated liability for the plugging and
abandonment of its oil and gas wells in accordance with SFAS No. 143 "Accounting
for Asset Retirement Obligations" ("SFAS 143"). Under SFAS 143, the Partnership
must currently recognize a liability for future asset retirement obligations if
a reasonable estimate of the fair value of that liability can be made. The
present values of the expected asset retirement costs are capitalized as part of
the carrying amount of the long-lived asset. SFAS 143 requires the Partnership
to consider estimated salvage value in the calculation of depletion,
depreciation and amortization. For the Partnership, SFAS 143 resulted in (i) an
increase of total liabilities because retirement obligations are required to be
recognized, (ii) an increase in the recognized cost of assets because the
retirement costs are added to the carrying amount of the long-lived assets and
(iii) a decrease in depletion expense, because the estimated salvage values are
considered in the depletion calculation.

       The estimated liability is based on the managing general partner's
historical experience in plugging and abandoning wells, estimated remaining
lives of those wells based on reserves estimates, external estimates as to the
cost to plug and abandon the wells in the future, and federal and state
regulatory requirements. The liability is discounted using an assumed
credit-adjusted risk-free interest rate. Revisions to the liability could occur
due to changes in estimates of plugging and abandonment costs or remaining lives
of the wells, or if federal or state regulators enact new plugging and
abandonment requirements.

       The Partnership has no assets legally restricted for purposes of settling
asset retirement obligations. Except for the item previously referenced, the
Partnership has determined that there are no other material retirement
obligations associated with tangible long-lived assets.

       A reconciliation of the Partnership's liability for well plugging and
abandonment costs for the year ended December 31, 2003 is as follows:

       Asset retirement obligations, December 31, 2002.....     $       -
       Liabilities incurred................................       690,000
       Accretion expense...................................        41,400
                                                                ---------
       Asset retirement obligations, December 31, 2003.....     $ 731,400
                                                                =========

                                       22
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

       NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

       Revenue Recognition
       -------------------

       Revenues from the sale of natural gas and oil are recognized when the gas
and oil are delivered to the purchaser.

       Recently Issued Financial Accounting Standard
       ---------------------------------------------

       In April 2003, the Financial Accounting Standards Board (FASB) issued
SFAS No. 149 ("SFAS 149") "Amendment of Statement 133 on Derivative Instruments
and Hedging Activates." SFAS 149 is effective for contracts entered into or
modified after June 30, 2003 and amends and clarifies financial accounting and
reporting for derivative instruments. The adoption of SFAS 149 did not have a
material effect on the Partnership's financial position or results of
operations.

       In May 2003, the FASB issued Statement No. 150 ("SFAS 150") "Accounting
for Certain Financial Instruments with Characteristics of Both Liabilities and
Equity." SFAS 150 requires that certain instruments that were previously
classified as equity on a Company's statement of financial position now be
classified as liabilities. SFAS 150 is effective for financial instruments
entered into or modified after May 31, 2003, and otherwise is effective at the
beginning of the first interim period beginning after June 15, 2003. The
adoption of SFAS 150 did not have an impact on the Partnership's results of
operations or financial position.

       Environmental Matters
       ---------------------

       The Partnership is subject to various federal, state and local laws and
regulations relating to the protection of the environment. The Partnership has
established procedures for the ongoing evaluation of its operations, to identify
potential environmental exposures and to comply with regulatory policies and
procedures.

       The Partnership accounts for environmental contingencies in accordance
with SFAS No. 5 "Accounting for Contingencies." Environmental expenditures that
relate to current operations are expensed or capitalized as appropriate.
Expenditures that relate to an existing condition caused by past operations, and
do not contribute to current or future revenue generation, are expensed.
Liabilities are recorded when environmental assessments and/or clean-ups are
probable, and the costs can be reasonably estimated. The Partnership maintains
insurance that may cover in whole or in part certain environmental expenditures.
For the two years ended December 31, 2003, the Partnership had no environmental
matters requiring specific disclosure or requiring recording of a liability.

        Major Customer
        --------------

        Substantially all of the Partnership's revenues were derived from the
sales to First Energy Solutions Corporation. However, the market for gas and oil
production is a diverse open market and other purchasers are readily available.



                                       23
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                                December 31, 2003

        NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

        Hedging Activities
        ------------------

        Atlas may use natural gas futures and option contracts to hedge the
Partnership's exposure to changes in natural gas prices. The partnership will
account for its portion of hedging activities under Statements of Financial
Accounting Standards No. 133 ("SFAS 133"), "Accounting for Derivative
Instruments and Hedging Activates" (as amended by SFAS 138 and SFAS 149). Under
this statement, all derivative financial instruments are recognized in the
financial statements as either assets or liabilities measured at fair value and
the changes in the fair value recognized in income or other comprehensive
income, depending on their classification. The Partnership has no derivatives at
December 31, 2003.

NOTE 3 - FEDERAL INCOME TAXES

        The Partnership is not treated as a taxable entity for federal income
tax purposes. Any item of income, gain, loss, deduction or credit flows through
to the partners as though each partner had incurred such item directly. As a
result, each partner must take into account his pro rata share of all items of
partnership income and deductions in computing his federal income tax liability.

NOTE 4 - PARTICIPATION IN REVENUES AND COSTS

        The Managing General Partner and the Limited Partners will generally
participate in revenues and costs in the following manner:
<TABLE>
<CAPTION>
                                                              Managing General         Other
                                                                  Partner            Partners (3)
                                                              -----------------------------------
            <S>                                                     <C>                  <C>
          Organization and offering costs                           100%                 0%
          Lease costs                                               100%                 0%
          Revenues                                                   (1)                (1)
          Operating costs, administrative costs,
              direct costs and all other costs                       (2)                (2)
          Intangible drilling costs                                   0%               100%
          Tangible equipment costs                                   66%                34%
</TABLE>
------------
(1)  Subject to the Managing General Partner's subordination obligation,
     substantially all partnership revenues will be shared in the same
     percentage as capital contributions are to the total partnership capital
     contributions, except that the Managing General Partner will receive an
     additional 7% of the partnership revenues, which may not exceed 35%.

(2)  These costs will be charged to the partners in the same ratio as the
     related production revenues are credited.

(3)  Other Partners include both investor limited partners and investor general
     partners. General Partner units automatically converted to limited partner
     units when all wells were drilled and completed.

                                       24
<PAGE>



                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS -CONTINUED

                                December 31, 2003

         NOTE 5 - TRANSACTIONS WITH ATLAS AND ITS AFFILIATES

       The Partnership has entered into the following significant transactions
with Atlas and its affiliates as provided under the Partnership agreement:

                  Drilling contracts to drill and complete wells for the
                  Partnership at cost plus 15%. The cost of the wells includes
                  reimbursement to Atlas of its general and administrative
                  overhead cost ($14,380 per well) and all ordinary and actual
                  costs of drilling, testing and completing the wells. The
                  Partnership paid $31,178,100 to Atlas in 2002 under the
                  drilling contracts.

                  Atlas contributed all the undeveloped leases necessary to
                  cover each of the Partnership's prospects and received a
                  credit to its capital account in the Partnership of $695,700.

                  As the Managing General Partner, Atlas performs all
                  administrative and management functions for the Partnership.
                  Administrative costs payable to Atlas are at $75 per well per
                  month. Administrative costs incurred for the year ended
                  December 31, 2003 were $101,500.

                  Monthly well supervision fees payable to Atlas at $275 per
                  well per month for operating and maintaining the wells. Well
                  supervision fees incurred in 2003 were $331,800.

                  Transportation fees paid to Atlas at $.35 per MCF.
                  Transportation fees incurred in 2003 were $559,500.

                  Atlas and Anthem Securities, an affiliate of Atlas, received
                  $4,676,700 in 2002 for fees, commissions and reimbursements as
                  dealer-manager and to organize the partnership.

                  Our managing general partner and its affiliates will be
                  reimbursed for all direct costs expended on our behalf. For
                  the years ended December 31, 2003 and 2002, we reimbursed the
                  managing general partner for $273,600 and $200, respectively,
                  for such charges.

NOTE 6 - COMMITMENTS

        Subject to certain conditions, investor partners may present their
interests beginning in 2007 for purchase by Atlas. The purchase price will be
calculated by Atlas in accordance with the terms of the partnership agreement.
Atlas is not obligated to purchase more than 5% of the units in any calendar
year. In the event that Atlas is unable to obtain the necessary funds, Atlas may
suspend its purchase obligation.


NOTE 7 - SUBORDINATION OF MANAGING GENERAL PARTNER'S REVENUE SHARE

        Under the terms of the partnership agreement, Atlas may be required to
subordinate up to 50% of its share of production revenues of the Partnership,
net of related operating costs, administrative costs and well supervision fees
to the receipt by the investor partners of cash distributions from the
Partnership equal to at least 10% of their agreed subscriptions, determined on a
cumulative basis, in each of the first five years of Partnership operations,
commencing with the first distribution of revenues to the investor partners
(June 2003). In 2003, Atlas was not required to subordinate any of its revenues
to the investor partners.

                                       25
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

NOTE 8 - NATURAL GAS AND OIL PRODUCING ACTIVITIES

       The supplementary information summarized below presents the results of
natural gas and oil activities in accordance with SFAS No. 69, "Disclosures
About Oil and Gas Producing Activities". Annually, reserve value information is
provided to the investor partners pursuant to the partnership agreement. The
partnership agreement provides a presentment feature whereby the managing
general partner will buy partnership units, subject to annual limitations, based
upon a valuation formula price in the partnership agreement. Therefore, reserve
value information under SFAS No. 69 is not presented.

       No consideration has been given in the following information to the
income tax effect of the activities as the Partnership is not treated as a
taxable entity for income tax purposes.

        (1) Capitalized Costs

        The following table presents the capitalized costs related to natural
gas and oil producing activities at December 31:
<TABLE>
<CAPTION>
                                                                                      2003                  2002
                                                                                  ------------          ------------
      <S>                                                                              <C>                   <C>
      Oil and gas properties well drilling contracts                              $          -          $ 31,178,100
      Mineral interest in proved properties                                            695,700               671,500
      Wells and related equipment                                                   38,029,600                     -
      Accumulated depreciation and depletion                                        (5,632,100)                    -
                                                                                  ------------          ------------

                           Net capitalized costs                                  $ 33,093,200          $ 31,849,600
                                                                                  ============          ============
</TABLE>


        (2) Costs Incurred in Oil and Gas Producing Activities.

        The costs incurred by the Partnership in its oil and gas producing
activities during the fiscal years ended December 31, are as follows:
<TABLE>
<CAPTION>
                                                                                       2003                   2002
                                                                                  ------------          ------------
         <S>                                                                            <C>                   <C>
      Asset retirement costs capitalized                                          $    690,000          $          -
      Developmental costs                                                            6,185,700            31,849,600
</TABLE>

                                       26
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

NOTE 8 - NATURAL GAS AND OIL PRODUCING ACTIVITIES (Continued)

        (3) Results of Operations for Oil and Gas Producing Activities

        The following table presents the results of operations related to
natural gas and oil production for the year ended December 31, 2003:
<TABLE>
<CAPTION>

                                                                                      2003
                                                                                  -------------
                 <S>                                                                    <C>
              Natural gas and oil sales                                           $   9,825,300
              Production costs                                                       (1,146,200)
              Depreciation and depletion and impairment                              (5,632,100)
              Accretion of asset retirement obligation                                  (41,400)
                                                                                  -------------
                  Results of operations from oil and gas
                      producing activities                                        $   3,005,600
                                                                                  =============
</TABLE>
       (4) Reserve Information (Unaudited)

       The information presented below represents estimates of proved natural
gas and oil reserves. Reserves are estimated in accordance with guidelines
established by the Securities and Exchange Commission and the Financial
Accounting Standards Board which require that reserve estimates be prepared
under existing economic and operating conditions with no provision for price and
cost escalation except by contractual arrangements. Proved reserves are
estimated quantities of oil and natural gas which geological and engineering
data demonstrate with reasonable certainty to be recoverable in future years
from known reservoirs. Proved developed reserves are those which are expected to
be recovered through existing wells with existing equipment and operating
methods. All reserves are proved developed reserves and are located in the
Appalachian Basin area.

       There are numerous uncertainties inherent in estimating quantities of
proved reserves and in projecting future net revenues and the timing of
development expenditures. The reserve data presented represents estimates only
and should not be construed as being exact. In addition, the standardized
measures of discounted future net cash flows may not represent the fair market
value of the Partnership's oil and gas reserves or the present value of future
cash flows of equivalent reserves, due to anticipated future changes in oil and
gas prices and in production and development costs and other factors for which
effects have not been provided.


                                       27
<PAGE>


                       Atlas America Public #11-2002 Ltd.
                       ----------------------------------
                        (A Delaware Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                December 31, 2003

NOTE 8 - NATURAL GAS AND OIL PRODUCING ACTIVITIES (Continued)

<TABLE>
<CAPTION>

                                                                  ----------------------------------
                                                                     Natural Gas             Oil
                                                                       (MCF)               (BBLS)
                                                                  ----------------------------------
            <S>                                                         <C>                  <C>
         Proved developed and undeveloped reserves:
            Balance January 1,2002                                            -                 -
            Proved developed reserves                                         -
            Proved undeveloped reserves                               2,333,025
            Production                                                        -                 -
                                                                     ----------           -------
          Balance, December 31, 2002 (1)                              2,333,025                 -
                                                                     ----------           -------
            Reclass to proved developed reserves                     (2,333,025)                -
            Current additions from proved undeveloped reserves        2,333,025                 -
            Production                                               (1,840,600)          (14,200)
            Current additions                                         9,699,475            79,800
                                                                     ----------           -------
          Balance, December 31, 2003 (2)                             10,191,900            65,600
                                                                     ==========           =======
</TABLE>
------------
(1)  All reserves at December 31, 2002 are proved undeveloped reserves.
(2)  All reserves at December 31, 2003 are proved developed reserves.


ITEM 8.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
         FINANCIAL DISCLOSURE:

         None.

ITEM 8A. CONTROLS AND PROCEDURES

         Evaluation of Disclosure Controls and Procedures. Our Managing General
Partner's Chief Executive Officer and Chief Financial Officer have evaluated our
disclosure controls and procedures, (as defined in Rules 13a-14 (c) and 15d-14
(c) under the Securities Exchange Act of 1934) as of December 31, 2003. Based
upon this evaluation, these officers believe that our disclosure controls and
procedures are effective.

         Changes in Internal Controls. There were no significant changes in our
internal controls or in other factors that could significantly affect these
controls subsequent to the evaluation date.

                                       28

<PAGE>



                                    PART III

ITEM 9.  DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES, COMPLIANCE
         WITH SECTION 16(A) OF THE EXCHANGE ACT

         Responsibilities of Atlas. We have no employees and rely on our
managing general partner, which also serves as driller-operator of the wells,
for management. Our managing general partner has complete and exclusive
discretion and control over our operations and activities and makes all of our
decisions affecting the wells we have drilled. Our managing general partner
provides continuing review and analysis of all wells and monitors all
expenditures and commitments made on our behalf. In addition, our managing
general partner performs administrative services relating to our funding and
operation, participant reporting, financial budgeting and record keeping.

         Because we have no equity securities registered pursuant to Section 12
of the Exchange Act, there is no required compliance with Section 16(b) of the
Exchange Act.

         Business of Atlas. Our managing general partner was incorporated in
1979 and its affiliate, Atlas Energy Group, Inc., an Ohio corporation that was
the first of the Atlas group of companies, was incorporated in 1973. Atlas
Energy Group serves as our operator in Ohio. As of December 31, 2003, our
managing general partner and its affiliates had directly or through investments
in partnerships similar to our interest in approximately 5,300 wells of which,
our managing general partner or its' affiliates operate 85% of these wells which
are located in Ohio, Pennsylvania and New York.

         In September 1998, the Atlas Group, the former parent company of our
managing general partner, merged into Atlas America, Inc., a newly formed wholly
owned subsidiary of Resource America, Inc. Resource America is a publicly traded
proprietary asset management company who is engaged in the energy, real estate
and financial services sectors. We depend on our parent company, Atlas America,
for management and administrative functions and financing our capital
contributions. Resource America is currently offering a portion of its common
stock in Atlas America, the Delaware holding company, pursuant to an S-1
Registration Statement. If the offering is completed, Resource America will own
approximately 82.7% of the outstanding shares of Atlas America's common stock
and 80% if the underwriters exercise their over-allotment option.

         Resource America has informed our managing general partner that it
intends to distribute its remaining ownership interest in Atlas America to its
common stockholders. Resource America expects the distributions to take the form
of a spin-off by means of a special dividend to Resource America common
stockholders of all of Atlas America's common stock owned by Resource America.
Resource America further has advised us that it anticipates that the
distribution will occur by the end of 2004. Resource America has sole discretion
if and when to complete the distribution and its terms. Resource America does
not intend to complete the distribution unless it receives a ruling from the
Internal Revenue Service and/or an opinion from its tax counsel as to the
tax-free nature of the distribution to Resource America and its stockholders for
U.S. federal income tax purposes. The internal Revenue Service requirements for
tax-free distributions of this nature are complex and the Internal Revenue
Service has broad discretion, so there is significant uncertainty as to whether
Resource America will be able to obtain such ruling. Because of this uncertainty
and the fact that the timing and completion of the distribution is in Resource
America's sole discretion, the distribution may not occur by the contemplated
time or may not occur at all.

         Atlas America is headquartered at 311 Rouser Road, Moon Township,
Pennsylvania 15108, which is also the managing general partner's primary office.


                                       29
<PAGE>

Officers, Directors and Other Key Personnel The officers and directors of the
managing general partner will serve until their successors are elected. The
officers, directors, and key personnel of the managing general partner are as
follows:
<TABLE>
<CAPTION>
NAME                          AGE      POSITION OR OFFICE
----                          ---      ------------------
<S>                           <C>      <C>
Freddie M. Kotek              48       Chairman of the Board of Directors, Chief Executive
                                       Officer and President
Frank P. Carolas              44       Executive Vice President - Land and Geology and a Director
Jeffrey C. Simmons            45       Executive Vice President - Operations and a Director
Jack L. Hollander             48       Senior Vice President - Direct Participation Programs
Nancy J. McGurk               48       Senior Vice President, Chief Financial Officer and Chief
                                       Accounting Officer
Michael L. Staines            54       Senior Vice President, Secretary and a Director
</TABLE>

With respect to the biographical information set forth below:

         o the approximate amount of an individual's professional time devoted
to the business and affairs of the managing general partner and Atlas America
have been aggregated because there is no reasonable method for them to
distinguish their activities between the two companies; and

         o for those individuals who also hold senior positions with other
affiliates of the managing general partner, if it is stated that they devote
approximately 100% of their professional time to the managing general partner
and Atlas America, it is because either the other affiliates are not currently
active in drilling new wells, such as Viking Resources or Resource Energy, and
the individuals are not required to devote a material amount of their
professional time to the affiliates, or there is no reasonable method to
distinguish their activities between the managing general partner and Atlas
America as compared with the other affiliates of the managing general partner,
such as Viking Resources or Resource Energy.

Freddie M. Kotek. President and Chief Executive Officer since 2002 and Chairman
of the Board of Directors since 2001. Mr.Kotek has been Executive Vice President
and Chief Financial Officer of Atlas America since 2004 and served as a director
from 2001 until 2004. Mr. Kotek has been a Senior Vice President of Resource
America, and President of Resource Leasing, Inc. (a wholly-owned subsidiary of
Resource America) since 1995. Mr. Kotek was President of Resource Properties
from 2000 to 2001 and its Executive Vice President from 1993 to 2000. Upon
completion of the Atlas America offering, Mr. Kotek intends to resign his
positions at Resource America and all of its subsidiaries which are not
subsidiaries of Atlas America. Mr. Kotek received a Bachelor of Arts degree from
Rutgers College in 1977 with high honors in Economics. He also received a Master
in Business Administration degree from the Harvard Graduate School of Business
Administration in 1981. On completion of the Atlas America offering Mr. Kotek
will devote approximately 95% of his professional time to the business and
affairs of the managing general partner and Atlas America, and the remainder of
his professional time to the business and affairs of the managing general
partner's affiliates.

Frank P. Carolas. Executive Vice President-Land and Geology and a Director since
2001. Mr. Carolas has been a Vice President of Resource America and an Executive
Vice President-Land and Geology of Atlas America since 2001 and served as a
Director of Atlas America from 2002 until 2004. Mr. Carolas served as Vice
President of Land and Geology for the managing general partner from 1999 until
2001 and for Atlas America from 1998 until 2001. Before that Mr. Carolas served
as Vice President of Atlas Energy Group, Inc. from 1997 until 1998, which was
the former parent company of the managing general partner. Upon completion of
the Atlas America offering, Mr. Carolas intends to resign his position at
Resource America. Mr. Carolas is a certified petroleum geologist and has been
with the managing general partner and its affiliates since 1981. He received a
Bachelor of Science degree in Geology from Pennsylvania State University in 1981
and is an active member of the American Association of Petroleum Geologists. Mr.
Carolas devotes approximately 100% of his professional time to the business and
affairs of the managing general partner and Atlas America.


                                       30
<PAGE>



Jeffrey C. Simmons. Executive Vice President-Operations and a Director since
January, 2001. Mr. Simmons has been a Vice President of Resource America and an
Executive Vice President of Atlas America since 2001 and was a Director of Atlas
America from 2002 until 2004. Mr. Simmons served as Vice President of Operations
for the managing general partner from July 1999 until 2001 and for Atlas America
from 1998 until 2001. Mr. Simmons joined Resource America in 1986 as a senior
petroleum engineer and has served in various executive positions with its energy
subsidiaries since then. Upon completion of the Atlas America offering, Mr.
Simmons intends to resign his position at Resource America. Before Mr. Simmons'
career with Resource America, he had worked with Core Laboratories, Inc., of
Dallas, Texas, and PNC Bank of Pittsburgh. Mr. Simmons received his Petroleum
Engineering degree from Marietta College in 1981 and his Masters degree in
Business Administration from Ashland University in 1992. Mr. Simmons devotes
approximately 80% of his professional time to the business and affairs of the
managing general partner and Atlas America, and the remainder of his
professional time to the business and affairs of the managing general partner's
affiliates, primarily Viking Resources and Resource Energy.

Jack L. Hollander. Senior Vice President - Direct Participation Programs since
2002 and before that served as Vice President - Direct Participation Programs
from 2001 until 2002. Mr. Hollander also serves as Senior Vice President -
Direct Participation Programs of Atlas America since 2001. Mr. Hollander
practiced law with Rattet, Hollander & Pasternak, concentrating in tax matters
and real estate transactions, from 1990 to 2001, and served as in-house counsel
for Integrated Resources, Inc. (a diversified financial services company) from
1982 to 1990. Mr. Hollander earned a Bachelor of Science degree from the
University of Rhode Island in 1978, his law degree from Brooklyn Law School in
1981, and a Master of Law degree in Taxation from New York University School of
Law Graduate Division in 1982. Mr. Hollander is a member of the New York State
bar, the Investment Program Association, and the Financial Planning Association.
Mr. Hollander devotes approximately 100% of his professional time to the
business and affairs of the managing general partner and Atlas America.

Nancy J. McGurk. Senior Vice President since 2002, Chief Financial Officer and
Chief Accounting Officer since 2001. Ms. McGurk also serves as Senior Vice
President and Chief Accounting Officer of Atlas America since January, 2002 and
served as Chief Financial Officer from 2002 until 2004. Ms. McGurk has been Vice
President of Resource America since 1992 and its Treasurer and Chief Accounting
Officer since 1989. Upon completion of the Atlas America offering, Ms. McGurk
intends to resign her positions at Resource America. Also, since 1995 Ms. McGurk
has served as Vice President - Finance of Resource Energy, Inc. Ms. McGurk
received a Bachelor of Science degree in Accounting from Ohio State University
in 1978, and has been a Certified Public Accountant since 1982. On completion of
the Atlas America offering Ms. McGurk will devote approximately 80% of her
professional time to the business and affairs of the managing general partner
and Atlas America, and the remainder of her professional time to the business
and affairs of the managing general partner's affiliates.

Michael L. Staines. Senior Vice President, Secretary, and a Director since 1998.
Mr. Staines has been an Executive Vice President of Atlas America since 1998.
Mr. Staines has been a Senior Vice President of Resource America since 1989 and
was a director from 1989 to 2000 and Secretary from 1989 to 1998. Mr. Staines
has been President of Atlas Pipeline Partners GP since 2001 and its Chief
Operating Officer and a member of its Managing Board since its formation in
1999. Upon completion of the Atlas America offering, Mr. Staines intends to
resign his position at Resource America. Mr. Staines is a member of the Ohio Oil
and Gas Association and the Independent Oil and Gas Association of New York. Mr.
Staines received a Bachelor of Science degree from Cornell University in 1971
and a Master of Business degree from Drexel University in 1977. On completion of
the Atlas America offering Mr. Staines will devote approximately 5% of his
professional time to the business and affairs of the managing general partner
and Atlas America, and the remainder of his professional time to the business
and affairs of the managing general partner's affiliates.


                                       31
<PAGE>



ITEM 10. EXECUTIVE COMPENSATION

         We have no employees and rely on the employees of our managing general
partner and its affiliates for all services. We did not directly pay any
compensation to the employees of our managing general partner since inception
nor do we expect to do so in future years. See Item 12, "Certain Relationships
and Related Transactions," below for compensation paid to our managing general
partner.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

         As of December 31, 2003, we had issued and outstanding 3,126.55 units.
No officer or director of our managing general partner owns any units. Although,
subject to certain conditions, investor partners may present their units to us
beginning in 2007 for purchase. However, we are not obligated to purchase more
than 5% of the units in any calendar year.

         Resource America owns 100% of the common stock of Atlas America, which
owns 100% of the common stock of AIC, Inc., which owns 100% of the common stock
of our managing general partner.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

         Oil and Gas Revenues. Our managing general partner is allocated 32% of
our oil and gas revenues in return for having paid organization and offering
costs equal to 15% of our subscriptions, 66% of tangible costs and contributing
all leases for a total capital contribution of $11,534,000. During the year
ended December 31, 2003, our managing general partner received $2,950,900 from
our net production revenues.

         Leases. On the final closing date our managing general partner
contributed to us undeveloped prospects to drill 160.5 net wells and received a
credit in the amount of $671,500. During 2003, our managing general partner did
not enter into any further lease transactions with us and none are anticipated.

         Administrative Costs. Our managing general partner and its affiliates
receive an unaccountable, fixed payment reimbursement for their administrative
costs of $75 per well per month, which will be proportionately reduced if we
acquire less than 100% of the working interest in a well. Our managing general
partner received $101,500 is such fees for the year ended December 31, 2003.

         Direct Costs. Our managing general partner and its affiliates will be
reimbursed for all direct costs expended on our behalf. For the years ended
December 31, 2003 and 2002, we reimbursed the managing general partner for
$273,600 and $200, respectively, for such charges.

         Drilling Contracts. After our initial and final closing date, we
entered into a drilling contract with our managing general partner to drill and
complete 160.5 net wells. The total amount received by our managing general
partner was $31,178,100 for drilling and completing the wells for the year ended
December 31, 2002. During 2003, we did not enter into any further drilling
transactions and none are anticipated for future periods.

         Per Well Charges. Our managing general partner, as operator, is
reimbursed at actual cost for all direct expenses incurred on our behalf and
receives well supervision fees for operating and maintaining the wells during
producing operations in the amount of $275 per well per month subject to annual
adjustment for inflation. During the calendar year ended December 31, 2003, our
managing general partner received $331,800 for well supervision fees.

         Gathering Fees. We pay a combined gathering fee at a competitive rate
for each mcf transported through Atlas Pipeline Partners, L.P., natural gas
gathering system, currently ranging $.29-$.35 per mcf. For the fiscal year ended
December 31, 2003, the amount paid was $559,500.

                                       32
<PAGE>

         Dealer-Manager Fees. As part of our formation, our managing general
partner's affiliate, Anthem Securities, as dealer-manager received a 2.5%
dealer-manager fee, a 7% sales commission, a .5% reimbursement of marketing
expenses, and a .5% reimbursement of the selling agent's accountable due
diligence fees in the amount of $3,274,000. The dealer-manager will receive no
further compensation from us.

         Other Compensation. If our managing general partner makes a loan to us
it may receive a competitive rate of interest. If our managing general partner
provides equipment, supplies and other services to us, then it may do so at
competitive industry rates. For the year ended December 31, 2003, no such
advances were made.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

         We have not filed any reports on Form 8-K during the last quarter of
the period covered by this report. Other exhibits are located on page 24.


ITEM 14. PRINCIPLE ACCOUNTANT FEES AND SERVICES

         Aggregate fees recognized by the Partnership during the years ending
December 31, 2003 and 2002 by its principal accounting firm, Grant Thornton, LLP
are set forth below. The audit committee of the managing general partner
considers whether any provision of non-audit services is compatible with
maintaining the principal accountant's independence.
<TABLE>
<CAPTION>
                                                              2003                2002
                                                         -------------       ---------------
               <S>                                            <C>                   <C>
          Audit fees (1)                                   $  3,500              $      -
                                                           --------              --------
          Total aggregate fees billed                      $  3,500              $      -
                                                           ========              ========
</TABLE>
------------
(1)  Includes the aggregate fees recognized in each of the last two years for
     professional services rendered by Grant Thornton, LLP for the audit of the
     Partnership's annual financial statements and the review of financial
     statements included in Form 10-Q. The fees are for services that are
     normally provided by Grant Thornton, LLP in connection with statutory or
     regulatory filings or engagements.

         Procedures for Audit Committee Pre-Approval of Audit and Permissible
Non-Audit Services of Independent Auditor

         Pursuant to its charter, the Audit Committee of the managing general
partner is responsible for reviewing and approving, in advance, any audit and
any permissible non-audit engagement or relationship between us and our
independent auditors.






                                       33

<PAGE>


                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
                             Description                                                        Location
                             -----------                                                        --------
<S>                             <C>                                                                <C>
4(a)              Certificate of Limited Partnership for                        Previously filed in the Form S-1 on June
                  Atlas America Public #11-2002 Ltd.                            21, 2002

4(b)              Amended and Restated Certificate and Agreement of Limited     Previously filed in the Form S-1 on June
                  Partnership for Atlas America Public #11-2002 Ltd.            21, 2002

10(a)             Drilling and Operating Agreement with exhibits                Previously filed in the Form S-1 on June 21, 2002

31.1              Certification Pursuant to Rule 13a-15(e)/15(d) - 15 (e).

31.2              Certification Pursuant to Rule 13a-15(e)/15(d) - 15 (e).

32.1              Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                  Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002

32.2              Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                  Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002

</TABLE>


                                       34


<PAGE>


                                   SIGNATURES

        In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.


Atlas America Public #11-2002 Ltd.
<TABLE>
<CAPTION>
<S>                                        <C>
By:  (Signature and Title):          Atlas Resources, Inc., Managing General Partner

By   (Signature and Title):         /s/ Freddie M. Kotek
                                    -------------------------------------------------------------------------------------------
                                    Freddie M. Kotek, Chairman of the Board of Directors, Chief Executive Officer and President
Date:  March 29, 2004
</TABLE>


        In accordance with the Exchange Act, this report has been signed by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.


<TABLE>
<CAPTION>
<S>                                        <C>
By  (Signature and Title):          /s/ Freddie M. Kotek
                                    -------------------------------------------------------------------------------------------
                                    Freddie M. Kotek, Chairman of the Board of Directors, Chief Executive Officer and President
Date:  March 29, 2004


By  (Signature and Title):          /s/ Frank P. Carolas
                                    --------------------------------------------------------------------------------------------
                                    Frank P. Carolas, Executive Vice President - Land and Geology and a Director
Date:  March 29, 2004


By  (Signature and Title):          /s/ Jeffrey C. Simmons
                                    --------------------------------------------------------------------------------------------
                                    Jeffrey C. Simmons, Executive Vice President - Operations and a Director
Date:  March 29, 2004

By  (Signature and Title):          /s/ Nancy J. McGurk
                                    --------------------------------------------------------------------------------------------
                                    Nancy J. McGurk, Vice President, Chief Financial Officer and Chief Accounting Officer
Date:  March 29, 2004
</TABLE>


                    Supplemental information to be Furnished
                  With Reports Filed Pursuant to Section 15(d)
                  of the Exchange Act by Non-reporting Issuers

An annual report will be furnished to security holders subsequent to the filing
of this report.

                                       35