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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION  FORM 10-Q [X]
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2004 or [   ]
    
    TRANSITION REPORT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period fromto Commission File No. 333-85994-01 MEWBOURNE ENERGY PARTNERS 03-A, L.P. Delaware
    
    27-0055431(State or jurisdiction of
incorporation or organization)
    
    (I.R.S. Employer
Identification Number)
 3901 South Broadway, Tyler, Texas
    
    75701(Address of principal executive offices)
    
    (Zip Code)
 Registrants Telephone Number, including area code:(903) 561-2900 Not Applicable  
 Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. [X] Yes
[  ] No 1




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Mewbourne Energy Partners 03-A, L. P. INDEX Page NoPart I -
Financial InformationItem 1. Financial StatementsBalance Sheets -
March 31, 2004 (Unaudited) and December 31, 2003
    
    
    3Statements of Operations (Unaudited) -
For the three months ended March 31, 2004 and
the period from February 19, 2003 (date of inception)
through March 31, 2003
    
    
    4Statements of Cash Flows (Unaudited) -
For the three months ended March 31, 2004 and
the period from February 19, 2003 (date of inception)
through March 31, 2003
    
    
    5Statement of Changes In Partners Capital (Unaudited) -
For the three months ended March 31, 2004
    
    
    6Notes to Financial Statements
    
    
    7Item 2. Managements Discussion and Analysis of Financial
Condition and Results of Operations
    
    
    9Item 4. Disclosure Controls and Procedures
    
    
    11Part II- Other InformationItem 1. Legal Proceedings
    
    
    11Item 6. Exhibits and Reports on Form 8-K
    
    
    12Certification of CEO Pursuant to Section 302Certification of CFO Pursuant to Section 302Certification of CEO Pursuant to Section 906Certification of CFO Pursuant to Section 906
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Mewbourne Energy Partners 03-A, L. P. 
 Part I  Financial Information 
 Item 1. Financial Statements 
 BALANCE SHEETS
March 31, 2004 and December 31, 2003 March 31,
    
    December 31,2004
    
    2003(Unaudited)ASSETSCash and cash equivalents
    
    $
    4,137,538
    
    
    $
    5,551,936Accounts receivable, affiliate
    
    
    1,132,088
    
    
    
    307,252Total current assets
    
    
    5,269,626
    
    
    
    5,859,188Prepaid well cost
    
    
    
    
    
    
    4,128,424Oil and gas properties at cost,
full cost method
    
    
    13,514,652
    
    
    
    8,661,943Less accumulated depreciation,
depletion and amortization
    
    
    (734,572
    )
    
    
    (256,734
    )12,780,080
    
    
    
    8,405,209Total assets
    
    $
    18,049,706
    
    
    $
    18,392,821LIABILITIES AND PARTNERS CAPITALAccounts payable, affiliate
    
    $
    
    
    
    $
    328,517Asset retirement obligation plugging liability
    
    
    298,316
    
    
    
    145,139Partners capitalGeneral partners
    
    
    15,884,541
    
    
    
    16,034,671Limited partners
    
    
    1,866,849
    
    
    
    1,884,494Total partners capital
    
    
    17,751,390
    
    
    
    17,919,165Total liabilities and partners capital
    
    $
    18,049,706
    
    
    $
    18,392,821
 The accompanying notes are an integral
part of the financial statements. 3




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Mewbourne Energy Partners 03-A, L. P. 
 STATEMENTS OF OPERATIONS
For the three months ended March 31, 2004 and
the period from February 19, 2003 (date of inception)
through March 31, 2003
(Unaudited) 2004
    
    2003Revenues and other income:Oil and gas sales
    
    $
    1,113,627
    
    
    $
    Interest income
    
    
    9,234
    
    
    
    Total revenues and other income
    
    
    1,122,861
    
    
    
    Expenses:Lease operating expense
    
    
    56,326
    
    
    
    Production taxes
    
    
    96,755
    
    
    
    Administrative and general expense
    
    
    19,799
    
    
    
    Depreciation, depletion and amortization
    
    
    477,838
    
    
    
    Asset retirement obligation accretion
    
    
    4,918
    
    
    
    Net income
    
    $
    467,225
    
    
    $
    Allocation of net income:General partners
    
    $
    418,089
    
    
    $
    Limited partners
    
    $
    49,136
    
    
    $
    Basic and diluted net income per limited and general
partner interest (18,000 interests outstanding)
    
    $
    25.96
    
    
    $
    
 The accompanying notes are an integral
part of the financial statements. 4




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Mewbourne Energy Partners 03-A, L. P. 
 STATEMENTS OF CASH FLOWS
For the three months ended March 31, 2004 and
the period from February 19, 2003 (date of inception)
through March 31, 2003
(Unaudited) 2004
    
    2003Cash flows from operating activities:Net income
    
    $
    467,225
    
    
    $
    Adjustment to reconcile net income to net cash
used in operating activities:Depreciation, depletion and amortization
    
    
    477,838
    
    
    
    Asset retirement obligation accretion
    
    
    4,918
    
    
    
    Changes in operating assets and liabilities:Accounts receivables, affiliate
    
    
    (824,836
    )
    
    
    Accounts payable, affiliate
    
    
    (328,517
    )
    
    
    Net cash used in operating activities
    
    
    (203,372
    )
    
    
    Cash flows from investing activities:Purchase of oil and gas properties
    
    
    (576,026
    )
    
    
    Net cash used in investing activities
    
    
    (576,026
    )
    
    
    Cash flows from financing activities:Cash distributions to partners
    
    
    (635,000
    )
    
    
    Net cash used in financing activities
    
    
    (635,000
    )
    
    
    Net decrease in cash and cash equivalents
    
    
    (1,414,398
    )
    
    
    Cash and cash equivalents, beginning of period
    
    
    5,551,936
    
    
    
    Cash and cash equivalents, end of period
    
    $
    4,137,538
    
    
    $
    
 The accompanying notes are an integral
part of the financial statements. 5




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Mewbourne Energy Partners 03-A, L. P. 
 STATEMENT OF CHANGES IN PARTNERS CAPITAL
For the three months ended March 31, 2004
(Unaudited) General
    
    LimitedPartners
    
    Partners
    
    TotalBalance at December 31, 2003
    
    $
    16,034,671
    
    
    $
    1,884,494
    
    
    $
    17,919,165Cash distributions
    
    
    (568,219
    )
    
    
    (66,781
    )
    
    
    (635,000
    )Net income
    
    
    418,089
    
    
    
    49,136
    
    
    
    467,225Balance at March 31, 2004
    
    $
    15,884,541
    
    
    $
    1,866,849
    
    
    $
    17,751,390
 The accompanying notes are an integral
part of the financial statements. 6




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Mewbourne Energy Partners 03-A, L.P. 
 NOTES TO FINANCIAL STATEMENTS
(Unaudited) 1. Accounting Policies Reference is hereby made to the Partnerships Annual Report on Form 10-K for
2003, which contains a summary of significant accounting policies followed by
the partnership in the preparation of its financial statements. These policies
are also followed in preparing the quarterly report included herein. In the opinion of management, the accompanying unaudited financial statements
contain all adjustments of a normal recurring nature necessary to present
fairly our financial position, results of operations, cash flows and partners
capital for the three months ended March 31, 2004. The results of operations
for the three months ended March 31, 2004 are not necessarily indicative of the
final results expected for the full year. 2. Accounting for Oil and Gas Producing Activities Mewbourne Energy Partners 03-A, L.P., (the Partnership), a Delaware limited
partnership formed on February 19, 2003, is engaged primarily in oil and gas
development and production in Texas, Oklahoma, and New Mexico. The offering of
limited and general partnership interests began May 16, 2003 as a part of an
offering registered under the name Mewbourne Energy Partners 02-03 Drilling
Programs and concluded July 9, 2003, with total investor contributions of
$18,000,000. Since the partnership was not funded until July 9, 2003, no
business was conducted by the Partnership during the period February 19, 2003
(date of inception) to March 31, 2003, therefore, there are no items of income
or expense for that reporting period. The Partnership follows the full-cost method of accounting for its oil and gas
activities. Under the full-cost method, all productive and nonproductive costs
incurred in the acquisition, exploration and development of oil and gas
properties are capitalized. Depreciation, depletion and amortization of oil
and gas properties subject to amortization is computed on the
units-of-production method based on the proved reserves underlying the oil and
gas properties. At March 31, 2004, approximately $0.8 million of capitalized
costs were excluded from amortization, while at December 31, 2003,
approximately $0.5 million of capitalized costs were excluded from
amortization. Gains and losses on the sale or other disposition of properties
are not recognized unless such adjustments would significantly alter the
relationship between capitalized costs and the proved oil and gas reserves.
Capitalized costs are subject to a periodic ceiling test that limits such costs
to the aggregate of the present value of future net cash flows of proved
reserves and the lower of cost or fair value of unproved properties. 3. Comprehensive Income Total comprehensive income (loss) equals net income (loss) during each of the
periods presented herein. 7




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4. Asset Retirement Obligations In accordance with FAS 143, the Partnership has recognized an estimated
liability for future oil and gas well plugging and abandonment costs. The
estimated liability is based on historical experience and estimated well lives.
The liability is discounted using the credit-adjusted risk-free rate.
Revisions to the liability could occur due to changes in well plugging and
abandonment costs or well useful lives, or if federal or state regulators enact
new well restoration requirements. A reconciliation of the Partnerships liability for well plugging and
abandonment costs for the three months ended March 31, 2004 and the period from
February 19, 2003 (date of inception) through December 31, 2003, is as follows: 2004
    
    2003Balance, beginning of period
    
    $
    145,139
    
    
    $
    Liabilities incurred
    
    
    148,259
    
    
    
    136,420Accretion expense
    
    
    4,918
    
    
    
    8,719Balance, end of period
    
    $
    298,316
    
    
    $
    145,139
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Item 2 Managements Discussion and Analysis of Financial Condition and
Results of Operations Liquidity and Capital Resources Mewbourne Energy Partners 03-A, L.P. (the Partnership)was formed February 19,
2003. The offering of limited and general partnership interests began on May
16, 2003 and concluded on July 9, 2003, with investor partner contributions of
$18,000,000. The Partnership has acquired interests in oil and gas prospects for the purpose
of development drilling. At March 31, 2004, 42 wells had been drilled and were
productive and 7 wells were drilled and abandoned. Operations will be conducted with available funds and revenues generated from
oil and gas activities. No bank borrowing is anticipated. The Partnership had
net working capital of $5,269,626 at March 31, 2004. During the three months ended March 31, 2004, the Partnership made cash
distributions to the investor partners in the amount of $635,000. The
Partnership expects that cash distributions will continue during 2004 as
additional oil and gas revenues are received. The sale of crude oil and natural gas produced by the Partnership will be
affected by a number of factors which are beyond the Partnerships control.
These factors include the price of crude oil and natural gas, the fluctuating
supply of and demand for these products, competitive fuels, refining,
transportation, extensive federal and state regulations governing the
production and sale of crude oil and natural gas, and other competitive
conditions. It is impossible to predict with any certainty the future effect
of these factors on the Partnership. Results of Operations Revenues and other income during the period from January 1, 2004 to March 31,
2004 totaled $1,122,861, and consisted of oil and gas sales of $1,113,627 and
interest income of $9,234. Production volumes during the period ended March
31, 2004 were approximately 3,553 bbls of oil and 195,366 mcf of gas at
corresponding average realized prices of $33.60 per bbl of oil and $5.09 per
mcf of gas. Expenses totaling $655,636, consisting primarily of lease
operating expenses in the amount of $56,326, production taxes in the amount of
$96,755, and depreciation, depletion, and amortization in the amount of
$477,838 resulted in net income for the period of $467,225. The Partnerships
oil and gas production should increase during the remainder of 2004 as
additional wells are completed and oil and gas production is sold. Interest
income should decrease in 2004 as the available cash is utilized for drilling
and equipping of wells. The Partnership expects that drilling and completion
costs will decrease during 2004 and that production costs, operating expenses
and depletion provisions will increase. The Partnerships operations did not commence until the third quarter of 2003.
No corresponding activities, therefore, occurred during the period from
February 19, 2003 (date of inception) through March 31, 2003. 9




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Asset Retirement Obligation In accordance with FAS 143, the Partnership has recognized an estimated
liability for future oil and gas well plugging and abandonment costs (see Note
4). The estimated liability is based on historical experience and estimated
well lives. The liability is discounted using the credit-adjusted risk-free
rate. Revisions to the liability could occur due to changes in well plugging
and abandonment costs or well useful lives, or if federal or state regulators
enact new well restoration requirements. A reconciliation of the Partnerships liability for well plugging and
abandonment costs for the three months ended March 31, 2004 and the period from
February 19, 2003 (date of inception) through December 31, 2003, is as follows: 2004
    
    2003Balance, beginning of period
    
    $
    145,139
    
    
    $
    Liabilities incurred
    
    
    148,259
    
    
    
    136,420Accretion expense
    
    
    4,918
    
    
    
    8,719Balance, end of period
    
    $
    298,316
    
    
    $
    145,139
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Item 4. Disclosure Controls and Procedures Mewbourne Development Corporation (MDC), the Managing General Partner of the
Partnership, maintains a system of controls and procedures designed to provide
reasonable assurance as to the reliability of the financial statements and
other disclosures included in this report, as well as to safeguard assets from
unauthorized use or disposition. Within 90 days prior to the filing of this
report, MDCs Chief Executive Officer and Chief Financial Officer have
evaluated the effectiveness of the design and operation of our disclosure
controls and procedures with the assistance and participation of other members
of management. Based upon that evaluation, MDCs Chief Executive Officer and
Chief Financial Officer concluded that our disclosure controls and procedures
are effective for gathering, analyzing and disclosing the information the
Partnership is required to disclose in the reports it files under the
Securities Exchange Act of 1934 within the time periods specified in the SECs
rules and forms. There have been no significant changes in MDCs internal
controls or in other factors which could significantly affect internal controls
subsequent to the date MDC carried out its evaluation. 
 Part II  Other Information 
 Item 1. Legal Proceedings 1. Faulconer Resources 2000, LP, et al. v. Mewbourne Oil Company; No.
CV-2004-56 JWF; In the Fifth Judicial District Court, Eddy County New Mexico Plaintiffs Faulconer filed suit February 13, 2004 for Declaratory Judgment,
Tortuous Interference with Leasehold Interest, Temporary Restraining Order and
Preliminary Injunction, seeking direct and consequential damages for breach of
duties, attorneys fees and punitive damages for tortuous interference with
malice. Plaintiffs seek an injunction to deny Mewbourne Oil Company (MOC)
the opportunity to drill its La Huerta 30 Fee Com. No. 1 well, in which the
partnership owns a working interest. Plaintiffs claim that MOC has no right to cause the wellbore of the La Huerta
well to traverse the underground rock strata in the SE/4 of Section 19 and the
NE/4 of Section 30 on its way to a bottom hole location in the SE/4 of Section
30, all in Township 21 South, Range 27 East, Eddy County, New Mexico.
Plaintiffs own no interest in the SE/4 of Section 30, but do own oil and gas
leasehold interests in the SE/4 of Section 19 and the NE/4 of Section 30,
subject to a current Farmout Agreement with MOC as Farmee and Plaintiffs as
Farmor. Plaintiffs claim the right to exclude MOCs La Huertas wellbore from
proceeding through the underground rock strata where Plaintiffs own oil and gas
leasehold interests. Plaintiffs assert MOCs wellbore would constitute a
permanent trespass, causing Plaintiffs irreparable injury and seek to enjoin
the drilling of the well. Plaintiffs claim MOCs filing of an application to
drill the well with regulatory bodies constitutes a deliberate and malicious
interference with the contractual relationships between Plaintiffs and their
lessors. MOC believes it has the right to drill its La Huerta well as planned. The
bottom hole location for the well is within a residential area nearby the city
of Carlsbad, New Mexico. A surface location for the well within the SE/4 of
Section 30 is not feasible or appropriate due to the proximity of residences
and the inability to construct and use a natural gas pipeline to gather and
transport natural gas produced by the well. Thus, MOC proposes to drill a deviated well
from a surface location within the SE/4 of Section 19, for which MOC has
acquired a surface use easement and agreement. The wellbore would traverse the
SE/4 of Section 19 and the NE/4 of Section 30 before 11




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entering MOCs leasehold
area in the S/2 of Section 30. After MOC notified Plaintiffs of MOCs plans,
Plaintiffs asserted that MOC did not have authority to execute its plans
without Plaintiffs consent and sued MOC. Plaintiffs have refused to consent to
MOCs plans unless MOC gives Plaintiffs a substantial working interest in the
La Huerta well. Plaintiffs presented their application for preliminary injunction to the
court on March 3, 2004. MOC vigorously contested Plaintiffs claims. MOC
believes that Plaintiffs should not be permitted to block the drilling of the
La Huerta well unless Plaintiffs can show that their leasehold rights in the
SE/4 of Section 19 and the NE/4 of Section 30 would be interfered with
unreasonably by MOCs well. MOC further believes Plaintiffs failed to prove
such unreasonable interference would occur as a result of the drilling of the
La Huerta well. By Order dated March 17, 2004, the court denied Plaintiffs
application for injunctive relief, finding that MOC would not be trespassing
upon Plaintiffs oil and gas leasehold estates, that MOCs operations would not
interfere with operation of Plaintiffs oil and gas leasehold interests, either
surface or subsurface and that Plaintiffs would not suffer irreparable damage
in any respect. Plaintiffs have advised MOC that they will appeal the Courts
ruling. MOC does not believe the Courts order will be reversed on appeal.
Accordingly, MOC has commenced drilling operations on the La Huerta 30 No.
1-Y well in keeping with the Courts order and to prevent drainage and protect
its correlative rights. 
 Item 6. Exhibits and Reports on Form 8-K (a) Exhibits filed herewith. 31.1
    
    
    Certification of CEO Pursuant to Section 302 of
Sarbanes-Oxley Act of 2002.31.2
    
    
    Certification of CFO Pursuant to Section 302 of
Sarbanes-Oxley Act of 2002.32.1
    
    
    Certification of CEO Pursuant to Section 906 of
Sarbanes-Oxley Act of 2002.32.2
    
    
    Certification of CFO Pursuant to Section 906 of
Sarbanes-Oxley Act of 2002.
 (b) Reports on Form 8-K  none 12




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SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the
Partnership has duly caused this report to be signed on its behalf by the
undersigned thereto duly authorized. Mewbourne Energy Partners 03-A, L.P.By:
    
    Mewbourne Development Corporation
Managing General PartnerDate: May 14, 2004
    
    By:
    
    /s/ Alan Clark 
Alan Clark, Treasurer
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INDEX TO EXHIBITS EXHIBITNUMBER
    
    DESCRIPTION31.1
    
    Certification of CEO Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.31.2
    
    Certification of CFO Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.32.1
    
    Certification of CEO Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.32.2
    
    Certification of CFO Pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
 14