<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, 2002

[ ]      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)

           Pennsylvania                                 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.   $0

         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 Pennsylvania Limited Partnership)
                             INDEX TO ANNUAL REPORT
                                 ON FORM 10KSB

<TABLE>
PART I                                                                                                           Page
------                                                                                                           ----
<S>             <C>                                                                                           <C>
     Item 1:    Business....................................................................................    3 - 5
     Item 2:    Properties..................................................................................    5 - 8
     Item 3:    Legal Proceedings...........................................................................        8
     Item 4:    Submission of Matters to a Vote of Security Holders.........................................        8

PART II

     Item 5:    Market for Registrant's Common Equity and Related Security Holder Matters...................        8
     Item 6:    Management's Discussion and Analysis of Financial Condition
                     and Results of Operations..............................................................   9 - 10
     Item 7:    Financial Statements and Supplementary Data.................................................  11 - 18
     Item 8:    Changes in and Disagreements with Accountants
                     on Accounting and Financial Disclosure.................................................       19


PART III

     Item 9:    Directors, Executive Officers and Significant Employees,
                     Compliance with Section (16A) of the Exchange Act......................................  19 - 22
     Item 10:   Executive Compensation......................................................................       22
     Item 11:   Security Ownership of Certain Beneficial Owners and Management..............................       22
     Item 12:   Certain Relationships and Related Transactions..............................................  22 - 23
     Item 13:   Exhibits and Reports on Form 8-K............................................................       23
     Item 14:   Controls and Procedures.....................................................................       23

SIGNATURES..................................................................................................       25

CERTIFICATIONS..............................................................................................  26 - 27
</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
are scheduled to commence the first quarter of 2003. We will 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(A) of the Exchange Act."

     At December 31, 2002 we had 1,025 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 will contribute 66% of the equipment costs of drilling and completing
our wells, which we estimate will be approximately $5,200,000. Together, these
will be the only funds available to us for drilling activities. We will drill an
estimated 139 development wells in which we will have an interest. However, we
cannot guarantee that all of our proposed wells will be drilled or completed.
Each of our proposed wells is unique and the ultimate costs incurred may be more
or less than our current estimates.

     Our managing general partner paid 100% of the organization and offering
costs and contributed all of the leases associated with our proposed well sites
for a total contribution of approximately $5,300,000.

     Business Strategy. Once completed, our wells will produce natural gas and
to a far lesser extent oil, which will be our only products. Most of our gas
will be 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 expected to be
fulfilled through revenues from the sale of our gas and oil production. We will
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, will not include costs and expenses
related to the purchase of certain equipment, materials and brine disposal. If
these expenses are incurred, we will 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.


                                       3
<PAGE>


         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 will be 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.

         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.



                                       4
<PAGE>


         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. Natural gas pipelines are also subject to
safety regulation under the Natural Gas Pipeline Safety Act of 1968 and the
Pipeline Safety Act of 1992 which, among other things, dictate the type of
pipeline, quality of pipeline, depth, methods of welding and other
construction-related standards. 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.

Where can you find more information. We will file Form 10KSB Annual Report and
Form 10QSB 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

ITEM 2. PROPERTIES

         Drilling Activity. At March 18, 2003, we have 84 gross (80 net) wells
in the process of being drilled and completed. The following table shows
information about those wells we have completed through March 18, 2003. 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.


<TABLE>
<CAPTION>
                                                         Development Wells
                              ------------------------------------------------------------------------
                                        Productive (1)                           Dry (2)
                              -----------------------------------    ---------------------------------
                                 Gross (3)           Net (4)           Gross (3)           Net (4)
                              ----------------   ----------------    ---------------    --------------
<S>                           <C>               <C>                  <C>                <C>
Through March 18, 2003              55                53.5                 -                  -
</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.



                                       5
<PAGE>

(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. At March 18, 2003, we have 84 gross (80
net) wells in process of being drilled and completed and have not determined if
they are productive. The table below shows the number of our productive gross
and net wells to date, by state through December 31, 2002 in which we have a
working interest. All of our wells are classified as gas wells.

                                                    Number of Productive Wells
                                                    ---------------------------
                              Location                Gross               Net
                              --------               ---------      -----------
Pennsylvania                                              55            53.5
Ohio........................................              -              -
                                                     ---------      -----------
   Total....................................              55            53.5
                                                     ----------     -----------

         Production. We began to sell production from our productive wells in
the first quarter of 2003, consequently we do not have any production
information to report through December 31, 2002.

         Natural Gas and Oil Reserve Information. Although we have produced some
of our wells, no reserve estimates have been prepared at December 31, 2002.
Reserve information will be prepared for our wells at December 31, 2003.

     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, 2002.

<TABLE>
<CAPTION>
                                                       Developed Acreage                 Undeveloped Acreage (3)
                                                 -----------------------------          -------------------------
Location                                          Gross (1)           Net (2)            Gross            Net
--------                                         ----------         ----------          ---------       ---------
<S>                                             <C>                <C>
  Pennsylvania................................        4,168              4,095                  -               -
  Ohio........................................          100                100                  -               -
                                                 ----------         ----------          ---------       ---------
     Total....................................        4,268              4,195                  -               -
                                                 ==========         ==========          =========       =========
</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.


                                       6
<PAGE>

(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. have a gas supply agreement with First Energy
Solutions Corporation for a 10-year term which began on April 1, 1999. First
Energy Solutions Corporation is the marketing affiliate of First Energy
Corporation, a large regional electric utility listed on the New York Stock
Exchange. Subject to certain exceptions, First Energy Solutions Corporation must
buy all of the natural gas produced and delivered by our managing general
partner and its affiliates, which includes us, at certain specific delivery
points with the facilities of: East Ohio Gas Company, National Fuel Gas
Distribution, 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. The natural gas production associated with this
program is primarily marketed to First Energy Solutions Corporation as described
below; although a portion of the production may be marketed by Colonial Energy,
UGI Energy Services, Mid America and Exelon Energy. 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 or the other markets as discussed below.

         The First Energy Solutions Corporation agreement establishes an indexed
price formula for each delivery point during an initial period and requires the
parties to negotiate new pricing arrangements at each delivery point for
subsequent periods. If, at the end of any applicable period, our managing
general partner and First Energy Solutions Corporation cannot agree to a new
price for any delivery point, then our managing general partner may solicit
offers from third-parties, but First Energy Solutions Corporation retains the
right to match any offer which is received. If First Energy Solutions
Corporation does not match a particular offer, then the natural gas associated
with that offer may be sold to the third-party. For example, during the period
April 1, 2000 through March 31, 2001, our managing general partner and its
affiliates sold natural gas delivered to National Fuel Gas Supply to entities
other than First Energy Solutions Corporation pursuant to this process. This
process is repeated at the end of each contract period.

         Our managing general partner and First Energy Solutions Corporation
have generally been able to agree to new pricing arrangements for all the
delivery points under the agreement. 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
listed above.

     Pricing for gas and oil production has been volatile and unpredictable for
many years. To hedge exposure to changing natural gas prices our managing
general partner uses financial hedges. In addition, our contract with First
Energy Solutions Corporation, a full service gas marketer, permits us, at our
managing general partner's discretion, to designate a portion of our production
to be delivered at a future date within the contract terms, at current market
prices. However, these transactions are not derivatives to us. We essentially
are locking in the sale price of our gas with First Energy prior to it being
produced. Once designated we, cannot offset our position under the contract and
are required to deliver the production to the delivery point. Thus, our 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 for certain volumes of natural gas sold pursuant to these
agreements, may be significantly different than the underlying monthly spot
market value in the month the gas is produced. With respect to financial hedges,
our managing general partner purchases and sells natural gas futures and


                                       7
<PAGE>

options contracts to limit our exposure to pricing change. These contracts may
include regulated NYMEX futures and options contracts and non-regulated
over-the-counter contracts with qualified counter-parties and generally cover
periods from one month to up to two years in the future. To assure that the
financial instruments will be used solely for hedging price risk and not for
speculative purposes, our managing general partner has established a committee
to assure that all financial trading is done in compliance with hedging
policies, procedures and risk management objectives. Our managing general
partner has not and does not intend to contract for positions that it cannot
offset with actual production. Although hedging provides our managing general
partner's partnerships, including us, some protection against falling prices,
these activities could also reduce the potential benefit from price increases,
depending on the instrument. The portion of our natural gas that is hedged
changes from time to time.

ITEM 3.  LEGAL PROCEEDINGS

        None.


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

        None.


                                     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, 2002, we had 1,025 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, 2002, we did not have any distributions.



                                       8
<PAGE>

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


        Forward-Looking Statements. When used in this Form 10-K, 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.

         The plan of operations and liquidity discussion should be read in
conjunction with our Financial Statements and the notes to our Financial
Statements.

         For the next 12 months our managing general partner believes that we
have adequate capital to develop approximately 139 gross (133.5 net) wells under
our drilling and operating agreement. Our producing operations are scheduled to
commence the first quarter of 2003. Our wells will be drilled primarily in
western Pennsylvania and southern Ohio. Funds contributed by our investor
partners and our managing general partner after our formation will be the only
funds available to us for drilling activities, no other wells will be drilled
after this initial group. Although we estimate that 139 gross development wells
will be drilled, we cannot guarantee that all of our proposed wells will be
drilled or completed. Each of our proposed wells is unique and the ultimate
costs incurred may be more or less than our current estimates.

         Our ongoing operating and maintenance costs are expected to be
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 activity through December 31, 2002, has been
our capital contributions by our investor partners and the managing general
partner. Our investor partners will pay for 34% of tangible well equipment and
all intangible drilling costs as described in our drilling contracts. Our
managing general partner, will contribute the remaining tangible well costs,
lease costs, organization and syndication and offering costs.

         Recently issued Financial Accounting Standards. In July 2001, the
Financial Accounting Standards Board issued SFAS 143, "Accounting for Asset
Retirement Obligations", which establishes requirements for the accounting for
removal costs associated with asset retirements. SFAS 143 is effective for
fiscal years beginning after June 15, 2002, and will require us to record a
liability for our retirement obligations with the related transition adjustment
reported as a cumulative affect of a change in accounting principle. We are
currently assessing the impact of SFAS 143 on our consolidated financial
statements.



                                        9
<PAGE>


         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, 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.



                                       10
<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 sheet of Atlas America Public #11-2002
Ltd., A Delaware Limited Partnership, as of December 31, 2002, and the related
statements of operations and changes in partners' capital accounts and cash
flows for 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 audit.

We conducted our audit 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 audit provides 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, 2002 and the results of its operations and cash flows
for 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.







Cleveland, Ohio
February 28, 2003



                                       11
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
                                 BALANCE SHEET
                               December 31, 2002



          ASSETS

Cash                                                          $       100

Oil and gas properties well drilling contracts and leases      31,849,600
                                                              -----------
                                                              $31,849,700
                                                              ===========


       PARTNERS' CAPITAL

Partners' capital:
   Managing General Partner                                   $   671,600
   Other Partners (3,126.55 units)                             31,178,100
                                                              -----------
                                                              $31,849,700
                                                              ===========




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





                                       12
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
                          STATEMENT OF OPERATIONS AND
                     CHANGES IN PARTNERS' CAPITAL ACCOUNTS
      For 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
     Organization costs                       1,403,000              --          1,403,000
     Syndication costs                        3,273,700              --          3,273,700
     Leasehold costs                            671,500              --            671,500
                                           ------------      ------------     ------------
                                              5,348,300        31,178,100       36,526,400

Syndication                                  (3,273,700)             --         (3,273,700)
                                           ------------      ------------     ------------

Net partners capital contributions            2,074,600        31,178,100       33,252,700
Participation in revenue and expenses:
     Organization costs                     (1,403,0000)             --         (1,403,000)
                                           ------------      ------------     ------------

              Net loss                       (1,403,000)             --         (1,403,000)
                                           ------------      ------------     ------------

Balance at December 31, 2002               $    671,600      $ 31,178,100     $ 31,849,700
                                           ============      ============     ============
</TABLE>









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




                                       13
<PAGE>

                       Atlas America Public #11-2002 Ltd.
                        (A Delaware Limited Partnership)
                            STATEMENT OF CASH FLOWS
      For the period June 5, 2002 (date of formation) to December 31, 2002



<TABLE>
<S>                                                                     <C>
Cash Flows from Operating Activities:
   Net loss                                                              $ (1,403,000)
   Adjustments to reconcile net loss to net cash provided by
      operating activities:
          Organization costs                                                1,403,000
                                                                         ------------

               Net cash provided by operating activities                         --

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                                         31,178,200
                                                                         ------------

               Net cash provided by financing activities                   31,178,200
                                                                         ------------

               NET INCREASE IN CASH                                               100

Cash at beginning of period                                                      --
                                                                         ------------

Cash at end of period                                                    $        100
                                                                         ============

Supplemental Schedule of Noncash Activities:

   Assets contributed by Managing General Partner
      Organization costs, expensed                                       $  1,403,000
      Lease costs, included in oil and gas properties                         671,500
      Syndication and offering costs, immediately charged to capital        3,273,700
                                                                         ------------

                                                                         $  5,348,200
                                                                         ============
</TABLE>


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



                                       14
<PAGE>

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

                         NOTES TO FINANCIAL STATEMENTS

                               December 31, 2002

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, 2002, there were 1,025
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. At December 31, 2002, the majority of the Partnership's
properties were scheduled for drilling. Operations are expected to commence in
the first quarter of 2003. Recoverability of the cost of properties is dependent
on the results of such development activities.

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.

        Oil and Gas Wells and Properties

        The Partnership will use 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. Depreciation and
depletion will be computed on a field-by-field basis by the unit-of-production
method based on periodic estimates of oil and gas reserves.

        Undeveloped leaseholds and proved properties will be assessed
periodically to determine whether there has been a decline in value and, if such
decline is indicated, a loss will be recognized. The Partnership will compare
the carrying value of its proved developed oil and gas producing properties to
the estimated future net cash flows from such properties in order to determine
whether their carrying values should be reduced.

         On an ongoing basis, the Partnership will estimate the costs of future
dismantlement, restoration, reclamation, and abandonment of its gas and oil
producing properties. Additionally, the Partnership will estimate the salvage
value of equipment recoverable upon abandonment. The Partnership expects that
equipment salvage values will be sufficient to recover the estimated costs of
future dismantlement, restoration, reclamation, and abandonment. However, should
these estimated costs exceed the estimated salvage values, beginning three years
after each well has been placed into production the managing general partner, as
operator, may retain $200 of production revenues per month, per well to cover
estimated future plugging and abandonment costs.

Significant Estimates

        Certain amounts included in or affecting the Partnership's financial
statements and related disclosures must be estimated, requiring the Partnership
to make certain assumptions with respect to values or conditions that cannot be
known with certainty at the time the financial statements are prepared.

        The preparation of financial statements in conformity with generally
accepted accounting principles requires the Partnership to make estimates and
assumptions that affect:

         o        the amount the Partnership reports for assets and liabilities

         o        the Partnership gas and oil reserves

         o        the amounts the Partnership reports for revenues and expenses
                  during the reporting period


                                       15
<PAGE>

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

                   NOTES TO FINANCIAL STATEMENTS (Continued)

                               December 31, 2002

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

        Therefore, the reported amounts of the Partnership's assets and
liabilities, revenues and expenses and associated disclosures with respect to
gas and oil reserves will necessarily be affected by these estimates. The
Partnership will evaluate these estimates on an ongoing basis, utilizing
historical experience, consultation with experts and other methods the
Partnership considers reasonable in the particular circumstances. Nevertheless,
actual results may differ significantly from the Partnership's estimates. Any
effects on the Partnership's business, financial position, or results of
operations resulting from revisions to these estimates will be recorded in the
period in which the facts that give rise to the revision become known.

        Revenue Recognition

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

        New Accounting Standard

        In July 2001, the Financial Accounting Standards Board issued SFAS No.
143, Accounting for Asset Retirement Obligations. SFAS No. 143 requires entities
to record the fair value of a liability for an asset retirement obligation in
the period in which it is incurred and a corresponding increase in the carrying
amount of the related long-lived asset and will be effective for fiscal years
beginning after July 15, 2002. The Partnership is required to adopt SFAS No. 143
effective January 1, 2003 and has not yet determined the impact this new
accounting standard will have on its financial statements.

        Major Customer

        The Managing General Partner has contracted to sell a majority of the
Partnership's gas production to First Energy Solutions Corporation. However, the
market for gas and oil production is a diverse open market and other purchasers
are readily available.

         Hedging Activities:

         Atlas may use natural gas futures and option contracts to hedge The
Partnership exposure to changes in natural gas prices. The Partnership will
account for its portion of hedging activates under Statements of Financial
Accounting Standards No. 133 ("SFAS 133") Accounting for Derivative Instruments
and Hedging Activates (as amended by SFAS 138). Under this statement, all
derivitive 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.

        Comprehensive Income:

         Comprehensive income includes net income and all other changes in the
equity of a business during a period from transactions and other events and
circumstances from non-owner sources. These changes, other than net income, are
referred to as "other comprehensive income" and for the partnership will
represent unrealized hedging gains and losses.

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.




                                       16
<PAGE>

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

                   NOTES TO FINANCIAL STATEMENTS (Continued)

                               December 31, 2002

NOTE 4 - PARTICIPATION IN REVENUES AND COSTS

        The Managing General Partner and the other partners will generally
participate in revenues and costs in the following manner:

                                                  Managing           Other
                                               General Partner      Partners
                                              ----------------    ----------
 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 and depletion            0%                100%
 Tangible equipment costs and depreciation         66%                 34%


         (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.

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 $671,500.

                  As the Managing General Partner, Atlas performs all
                  administrative and management functions for the Partnership.
                  Atlas will receive an unaccountable, fixed payment
                  reimbursement for their administrative costs at $75 per well
                  per month. In addition, Atlas will be reimbursed for all
                  direct costs expended on behalf of the Partnership. No
                  administrative costs were incurred in 2002.



                                       17
<PAGE>


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

                   NOTES TO FINANCIAL STATEMENTS - CONTINUED

                               December 31, 2002

NOTE 5 - TRANSACTIONS WITH ATLAS AND ITS AFFILIATES (Continued)

                  Atlas will receive well supervision fees for operating and
                  maintaining the wells during producing operations at a
                  competitive rate (currently $275 per well per month). No well
                  supervision fees were incurred in 2002.

                  Atlas will charge the Partnership a fee for gathering and
                  transportation at a competitive rate (currently in the range
                  of $.29 to $.35 per MCF). No transportation fees were incurred
                  in 2002.

                  Anthem Securities, an affiliate of the managing general
                  partner, received $3,274,000 in 2002 for fees, commissions
                  and reimbursements as dealer-manager for the partnerships.

NOTE 6 - COMMITMENTS

        As of December 31, 2002, the Partnership has entered into well drilling
contracts with Atlas aggregating $36,364,300 of which $31,178,100 has been paid.
The balance representing 66% of the tangible equipment costs, will be funded by
the managing general partners as a component of its agreed upon capital
contribution.

        Subject to certain conditions, investor partners may present their
interests beginning in 2007 for purchase by Atlas. 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 participants 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 participants.


NOTE 8 - INDEMNIFICATION

       In order to limit the potential liability of any investor general
partners, Atlas has agreed to indemnify each investor, that elects to be a
general partner, from any liability incurred which exceeds such partner's share
of Partnership assets.


NOTE 9 - NATURAL GAS AND OIL PRODUCING ACTIVITIES

       The supplementary information of natural gas and oil activities required
by SFAS No. 69, Disclosures About Oil and Gas Producing Activities has not been
presented because the Partnership will not commence operations until after
December 31, 2002.





                                       18
<PAGE>





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

        None.

                                    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(A) 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 which was
the first of the Atlas group of companies, was incorporated in 1973. Atlas
Energy Group serves as our operator in Ohio. As of September 30, 2002, our
managing general partner and its affiliates had directly or through investments
in partnerships similar to our interest in approximately 5,000 gross wells,
including royalty or overriding interests in 600 wells. 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. Atlas America has and is
continuing the existing business of Atlas Group and is headquartered at 311
Rouser Road, Moon Township, Pennsylvania 15108, which is also the managing
general partner's primary office.

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:

NAME                     AGE    POSITION OR OFFICE
----                     ---    ------------------
Freddie M. Kotek         46     Chairman of the Board of Directors,
                                Chief Executive Officer and President

Frank P. Carolas         42     Executive Vice President - Land and
                                Geology and a Director

Jeffrey C. Simmons       43     Executive Vice President - Operations
                                and a Director

Jack L. Hollander        46     Senior Vice President - Direct
                                Participation Programs

Nancy J. McGurk          47     Senior Vice President, Chief Financial
                                Officer and Chief Accounting Officer

Michael L. Staines       53     Senior Vice President, Secretary and a Director





                                       19
<PAGE>

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 is employed by Resource America
from 1993 to the present in various capacities and is currently Senior Vice
President of Resource 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. Mr. Kotek 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.

Frank P. Carolas. Executive Vice President-Land and Geology and a Director since
January, 2001. Mr. Carolas also serves as Executive Vice President-Land and
Geology of Atlas America since January, 2001 and a Director since January, 2002.
Mr. Carolas served as Vice President of Land and Geology for the managing
general partner from July 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. Mr. Carolas is a certified petroleum geologist and has been
with Atlas Resources 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.

Jeffrey C. Simmons. Executive Vice President-Operations and a Director since
January, 2001. Mr. Simmons also serves as Executive Vice President-Operations of
Atlas America since January, 2001 and a Director since January, 2002. 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 also serves as Vice President of Atlas Energy Corp., Atlas Energy Group,
Inc., PA Industrial Energy, Inc., Viking Resources, Corp., and Atlas Pipeline
Partners G.P., President of REI-NY, Inc. and Resource Well Services, Inc., and
Executive Vice President of Atlas Noble Corp. Mr. Simmons joined Resource
America in 1986 as senior petroleum engineer. From 1988 through 1994 he served


                                       20
<PAGE>
as director of production and as president of Resource Well Services, Inc., a
subsidiary of Resource America. He was then promoted to vice president of
Resource Energy, Inc., the energy subsidiary of Resource America formed in 1993.
In 1997 he was promoted to executive vice president, chief operating officer and
director of Resource Energy, Inc., a position he currently holds. 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 and his Masters degree in
Business Administration from Ashland University. He is a Board Member of the
Ohio Oil and Gas Association, the Independent Oil and Gas Association of New
York, and the Ohio Section of the Society of Petroleum Engineers. 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
January, 2002. Mr. Hollander also serves as Senior Vice President - Direct
Participation Programs of Atlas America since January, 2002. Mr. Hollander
served as Vice President - Direct Participation Programs for the managing
general partner and Atlas America from 2001 until January, 2002. Mr. Hollander
began his career serving as in-house tax counsel for Integrated Resources, Inc.,
a large diversified financial services company from 1982 to 1990. He then went
on to practice law with Rattet, Hollander & Pasternak with a concentration in
tax matters, real estate transactions, and consulted with and assisted
technology companies in raising capital until joining the managing general
partner in January 2001. 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, Chief Financial Officer and Chief
Accounting Officer since January, 2002. Ms. McGurk also serves as Senior Vice
President, Chief Financial Officer, and Chief Accounting Officer of Atlas
America since January, 2002. Ms. McGurk served as Vice President, Chief
Financial Officer and Chief Accounting Officer of the managing general partner
and Atlas America from January, 2001 to January, 2002. Ms. McGurk has been Vice
President of Resource America since 1992 and before that she had served as
Treasurer and Chief Accounting Officer of Resource America since 1989. Also,
since 1995 Ms. McGurk has served as Vice President - Finance of Resource Energy,
Inc. Ms. McGurk devotes approximately 20% 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 is also Executive Vice President, Secretary, and a Director of Atlas
America since 1998; Senior Vice President of Resource America since 1989;
Secretary of Resource America from 1989 to 1998; Director of Resource America
from 1989 to 2000; President, Secretary, and a Director of Resource Energy,
Inc., an energy subsidiary of Resource America, since 1993; President of Atlas
Pipeline Partners GP, LLC since 2001; and Chief Operating Officer, Secretary,
and Managing Board Member of Atlas Pipeline Partners GP, LLC since its formation
in 1999. 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. Mr. Staines devotes approximately 10% 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.



                                       21
<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, 2002, 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 colander 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. After formation, our managing general partner
paid or will pay our organization and offering costs in the amount of
$4,676,700, 66% of the equipment costs estimated to be $5,186,200, any equipment
costs that exceeded 10% of the partnership's subscription proceeds which would
otherwise have been charged to the investors and contributed all the leases on
which the wells were or are being drilled, for a total capital contribution
estimated to be $10,534,400. In return, our managing general partner will
share in our production revenues in the same percentage as its capital
contribution bears to our total capital contributions except that the managing
general partner will receive an additional 7% of partnership revenues. However,
our managing general partner's total revenue share may not exceed 35% of
partnership revenues regardless of the amount of its capital contribution. For
example, if the managing general partner contributes 25% of our total capital
contributions and you and the other investors contribute 75% of our total
capital contributions, then the managing general partner will receive 32% of our
revenues and the other investors will receive 68% of our revenues.

         Leases. On the final closing date our managing general partner
contributed to us 139 undeveloped prospects to drill approximately 133.55 net
wells and received a credit in the amount of $671,500.

         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. We estimate that
$120,000 will be paid to our managing general partner once all wells are
producing and on line for a full year.

         Direct Costs. Our managing general partner and its affiliates will be
reimbursed for all direct costs expended on our behalf.

         Drilling Contracts. After our initial and final closing date, we
entered into a drilling contract with our managing general partner to drill and
complete approximately 133.55 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.

         Per Well Charges. As the wells begin production our managing general
partner, as operator, will be reimbursed at actual cost for all direct expenses
incurred on our behalf and will receive well supervision fees for operating and
maintaining the wells during producing operations in the amount of $275 per well
per month subject to an annual adjustment for inflation. The well supervision
fees are proportionately reduced to the extent we acquire less than 100% of the
working interest in a well. We estimate that $440,000 will be paid to our
managing general partner once all wells are producing and on line for a full
year.



                                       22
<PAGE>

         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.

         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.

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.  CONTROLS AND PROCEDURES

         Evaluation of Disclosure Controls and Procedures Our 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)) within 90 days prior
to the filing of this report. 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 date of our last evaluation of our internal controls
by our Chief Executive Officer and Chief Financial Officer.









                                       23
<PAGE>



                                  EXHIBIT INDEX


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

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

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


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


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





                                       24
<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.

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 28, 2003


        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.


By  (Signature and Title):       /s/ Freddie M. Kotek
                                 ---------------------------------------
                                 Freddie M. Kotek,  Chairman of the Board
                                 of Directors,  Chief Executive Officer
                                 and President
Date: March 28, 2003


By  (Signature and Title):       /s/ Frank P. Carolas
                                 ----------------------------------------
                                 Frank P. Carolas, Executive Vice
                                 President - Land and Geology and a Director
Date: March 28, 2003


By  (Signature and Title):        /s/ Jeffrey C. Simmons
                                  ------------------------------------------
                                  Jeffrey C. Simmons, Executive Vice
                                  President - Operations and a Director
Date: March 28, 2003

By  (Signature and Title):         /s/ Nancy J. McGurk
                                   -----------------------------------------
                                   Nancy J. McGurk,  Vice President,  Chief
                                   Financial Officer and Chief Accounting
                                   Officer
Date: March 28, 2003


                    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.



                                       25
<PAGE>


                                 CERTIFICATIONS

I, Freddie M. Kotek, Chief Executive Officer of Atlas Resources, Inc. (managing
general partner of the Partnership), hereby certify that:

I have reviewed this annual report on Form 10-KSB of Atlas America Public
#11-2002 Ltd.;

1.       Based on my knowledge, this annual report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this annual report;

2.       Based on my knowledge, the financial statements, and other financial
         information included in this annual report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this annual report;

3.       The registrant's other certifying officer and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         we have:

         a)       designed such disclosure controls and procedures to ensure
                  that material information relating to the registrant,
                  including its consolidated subsidiaries, is made known to us
                  by others within those entities, particularly during the
                  period in which this annual report is being prepared;

         b)       evaluated the effectiveness of the registrant's disclosure
                  controls and procedures as of a date within 90 days prior to
                  the filing date of this annual report (the "Evaluation Date");
                  and

         c)       presented in this annual report our conclusions about the
                  effectiveness of the disclosure controls and procedures based
                  on our evaluation as of the Evaluation Date;

4.       The registrant's other certifying officer and I have disclosed, based
         on our most recent evaluation, to the registrant's auditors and the
         audit committee of registrant's board of directors (or persons
         performing the equivalent function):

         a)       all significant deficiencies in the design or operation of
                  internal controls which could adversely affect the
                  registrant's ability to record, process, summarize and report
                  financial data and have identified for the registrant's
                  auditors any material weaknesses in internal controls; and

         b)       any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the
                  registrant's internal controls; and

5.       The registrant's other certifying officer and I have indicated in this
         annual report whether or not there were significant changes in internal
         controls or in other factors that could significantly affect internal
         controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.

                    By: /s/ Freddie M. Kotek
                    ------------------
                    Freddie M. Kotek
                    Chief Executive Officer of the Managing General Partner
                    March 28, 2003



<PAGE>





                                 CERTIFICATIONS

I, Nancy J. McGurk, Chief Financial Officer of Atlas Resources, Inc. (managing
general partner of the Partnership), hereby certify that:


I have reviewed this annual report on Form 10-KSB of Atlas America Public
#11-2002 Ltd;

1.      Based on my knowledge, this annual report does not contain any untrue
        statement of a material factor omit to state a material fact necessary
        to make the statements made, in light of the circumstances under which
        such statements were made, not misleading with respect to the period
        covered by this annual report;

2.      Based on my knowledge, the financial statements, and other financial
        information included in this annual report, fairly present in all
        material respects the financial condition, results of operations and
        cash flows of the registrant as of, and for, the periods presented in
        this annual report;

3.      The registrant's other certifying officer and I are responsible for
        establishing and maintaining disclosure controls and procedures (as
        defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
        we have:

         i.       designed such disclosure controls and procedures to ensure
                  that material information relating to the registrant,
                  including its consolidated subsidiaries, is made known to us
                  by others within those entities, particularly during the
                  period in which this annual report is being prepared;

         ii.      evaluated the effectiveness of the registrant's disclosure
                  controls and procedures as of a date within 90 days prior to
                  the filing date of this annual report (the "Evaluation Date");
                  and

         iii.     presented in this annual report our conclusions about the
                  effectiveness of the disclosure controls and procedures based
                  on our evaluation as of the Evaluation Date;

4.      The registrant's other certifying officer and I have disclosed, based on
        our most recent evaluation, to the registrant's auditors and the audit
        committee of registrant's board of directors (or persons performing the
        equivalent function):

         i.       all significant deficiencies in the design or operation of
                  internal controls which could adversely affect the
                  registrant's ability to record, process, summarize and report
                  financial data and have identified for the registrant's
                  auditors any material weaknesses in internal controls; and

         ii.      any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the
                  registrant's internal controls; and

5.      The registrant's other certifying officer and I have indicated in this
        annual report whether or not there were significant changes in internal
        controls or in other factors that could significantly affect internal
        controls subsequent to the date of our most recent evaluation, including
        any corrective actions with regard to significant deficiencies and
        material weaknesses.

                    By: /s/ Nancy J. McGurk
                    ------------------
                    Nancy J. McGurk
                    Chief Financial Officer of the Managing General Partner
                    March 28, 2003



                                       26