<HTML>
<HEAD>
<TITLE>3rd Quarter 10-Q 1994</TITLE>
</HEAD>
<BODY>

<P><page> 1</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">FORM 10-Q</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"> </P>
<P ALIGN="JUSTIFY">/X/Quarterly Report Pursuant to Section 13 or 15(d)of the Securities Exchange Act of 1934</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">For the Quarterly Period Ended March 31, 2000</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="CENTER">or</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">/ /Transition Report Pursuant to Section 13 or 15(d)of the Securities Exchange Act of 1934</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">For the Transition Period Ended ______________________</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Commission File Number 0-13457</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">Sterling Drilling Fund 1984-1</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(Exact name of registrant as specified in charter)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">New York</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(State or other jurisdiction of incorporation or organization)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">13-3234373</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(IRS employer identification number)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">One Landmark Square, Stamford, Connecticut  06901</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(Address and Zip Code of principal executive offices)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">(203) 358-5700</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(Registrant's telephone number, including area code)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="CENTER">Not Applicable</U></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(Former name, former address and former fiscal year, if changed since last report)</TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">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.</P>
<P>Yes	/X/	No   / /</P>
<B><P><page>2</P>

</B><P>Part I</P>
<P ALIGN="JUSTIFY"></P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=686>
<TR><TD VALIGN="TOP">
<P>Item 1.	Financial Statements</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>The following Financial Statements are filed herewith:</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>Balance Sheets - March 31, 2000 and December 31, 1999.</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>Statements of Operations for the Three Months Ended March 31, 2000 and 1999.</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>Statements of Changes in Partners' Equity for the year ended December 31, 1999 and for the Three Months Ended March 31, 2000.</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>Statements of Cash Flows for the Three Months Ended March 31, 2000 and 1999.</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>Note to Financial Statements</TD>
</TR>
</TABLE>


<P> </P>
<P>Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations</P>

<P ALIGN="JUSTIFY">1. Liquidity: The oil and gas industry is intensely competitive in all its phases. There is also competition between this industry and other industries in supplying energy and fuel requirements of industrial and residential consumers.
It is not possible for the Registrant to calculate its position in the industry as the Registrant competes with many other companies having substantially greater financial and other resources. In accordance with the terms of the Agreement of Limited Partner
s
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY">The net proved oil and gas reserves of the Partnership are considered to be a primary indicator of financial strength and future liquidity. The present value of unescalated future net revenues (S.E.C. case) associated with such
reserves, discounted at 10% as of December 31, 1999, was approximately $897,388, as compared to $649,800 as of December 31, 1998. Overall reservoir engineering is a subjective process of estimating underground accumulations of gas and oil that can not be
measured i
<P ALIGN="JUSTIFY"> </P>
<B><P ALIGN="JUSTIFY"><page>3</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">2. Capital Resources - </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The Registrant was formed for the sole intention of drilling oil and gas wells.  The Registrant entered into a drilling contract with an independent contractor in October 1984 for $7,750,000.  Pursuant to the terms of these contract
thirty-two wells have been drilled, resulting in thirty-two producing wells.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">3.	Results of Operations -</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Operating revenues increased from $39,683 in 1999 to
$75,064 in 2000.  The increase in revenues can be directly attributed to
higher average price received for both oil and gas produced. The Partnership's
 gas production  and average price per MCF changed from to 16,958 MCF
 and $2.70 in 1999 to 17,332 MCF and $3.31 in 2000.  Although the Partnership
 receives most of its revenue from gas production, oil revenue increased
 due an average price of $24.69 per barrel during the first quarter 2000
combined with very little change in oil production from 880 BBL in 1999
to 715 BBL in 2000. Production expenses increased from$33,587 in 1999 to
$49,371 in 2000.  Some production expenses are variable and based upon
production volumes and dollars.  other costs include location, electrical
and mechanical repairs as well as general upkeep costs.  The Partnership
expended funds on typical and customary well and well site costs during
the first quarter 1999.  During 2000 some aditional minor repair costs
were incurred in order to maintain current production levels. </P>

<P ALIGN="JUSTIFY">General and administrative expenses  to a related party
remain unchanged while costs associated with third parties increased from 1999
to 2000.Management continues to use in-house resources to provide
 efficient and timely services to the partnership. The related party
 administrative expenses are charged in accordance with guidelines set forth
 in the Registrant's Management Agreement and are attributable to the affairs
 and operations of the Partnership and shall not exceed an annual amount
 equal to 5 percent of the limited partner's capital contributions.
 Amounts related to both 1999 and 2000 are substantially less than the
amounts allocable to the Registrant under the Partnership Agreement. </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The Partnership records additional depreciation, depletion
 and amortization to the extent that net capitalized costs exceed the
 undiscounted future net cash flows attributable to the partnership
 properties. The partnership was not required to significantly revise the
 property basis in either 1999 or first quarter 2000 due to additional
 depletion. Depletion expense is reasonable, in both years, based upon the
 rates and property basis reported.</P>
<P ALIGN="JUSTIFY"></P>
<P>PART II
Items 1 through 5 have been omitted in that each item is either
inapplicable or the answer is negative.</P>
Item 6 Exhibits and reports on Form 8-K
The Partnership was not required to file any reports on Form 8-K and no
such form was filed during the period covered by this report.</P>

<P>Exhibit 27 - Financial Data Schedule is attached to the electronic
 filing of this report.</P>

<P><page> 4</P>
<P ALIGN="CENTER">S I G N A T U R E S</P>
<P ALIGN="JUSTIFY">Pursuant to the requirements of Section 13 or 15(d) of the Securities  Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=559>
<TR><TD VALIGN="TOP">
<P ALIGN="RIGHT">Sterling Drilling Fund 1984-1</TD>
</TR>
<TR><TD VALIGN="TOP">
<U><P ALIGN="RIGHT">BY:/S/ Charles E. Drimal, Jr</U>. </TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="RIGHT">Charles E. Drimal, Jr.</TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="RIGHT">General Partner</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P>May 14, 1999</TD>
</TR>
<TR><TD VALIGN="TOP">
<P>(date)</TD>
</TR>
</TABLE>

<P><Page> 5</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=641>
<TR><TD VALIGN="TOP" COLSPAN=5>
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=5>
<P ALIGN="CENTER">(a New York Limited Partnership)</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=5>
<P ALIGN="CENTER">Balance Sheets</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=5>
<P ALIGN="CENTER">(unaudited)</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">March 31, 2000</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="CENTER">December 31, 1999</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>Assets</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>Current Assets:</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Cash and cash equivalents</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">59,828</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">41,313</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Due from affiliates</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">0</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">20,914</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Due from others</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">19,349</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>          Total current assets </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">79,178</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">62,227</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>Oil and Gas properties -</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>successful efforts method:</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Leasehold costs</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">323,260</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">323,260</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Well and related facilities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">7,664,106</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">7,658,884</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>   less accumulated depreciation, depletion and amortization.</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">(7,079,169)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">(7,066,272)</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>        </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>        Total Oil & Gas Properties</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">908,197</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">915,872</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>            Total Assets</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">987,375</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">978,099</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">======</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">======</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>Liabilities and Partner's Equity</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>  Current Liabilities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>    Due to affiliates</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">14,940</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">---</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>       </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>       Total Current Liabilities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">14,940</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">---</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P> Partner's Equity</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>   Limited partners</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">971,850</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">978,629</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>   General partners</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">584</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">(530)</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>        Total Partner's Equity</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">972,434</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">978,099</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">-----------</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P>             Total Liabilities & Partner's Equity</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">987,374</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">978,099</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="RIGHT">======</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="21%" VALIGN="TOP">
<P ALIGN="RIGHT">======</TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY">See accompanying note to financial statements.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"> </P>
<P ALIGN="CENTER"> </P>
<P> </P>
<P><Page> 6</P>
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</P>
<P ALIGN="CENTER">(a New York Limited Partnership)</P>
<P ALIGN="CENTER">Statement of Operations</P>
<P ALIGN="CENTER">(unaudited)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=276>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Three Months Ended</P>
<P ALIGN="CENTER">March 31, 2000</TD>
</TR>
</TABLE>
</P>

<P>							</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=654>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P>Limited</P>
<P>Partners</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P>General</P>
<P>Partners</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">

<P>Total</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Revenue:</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Operating revenue</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">59,301</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">15,763</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">75,064</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Interest income</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">784</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">50</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">834</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Total Revenue</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">60,085</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">15,813</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">75,898</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Costs and Expenses:</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Production expense</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">39,003</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">10,368</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">49,371</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>General and administrative</P>
<P> to a related party</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">11,850</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">3,150</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">15,000</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>General and administrative</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">3,888</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,033</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">4,921</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Depreciation, depletion</P>
<P> and amortization</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">12,123</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">774</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">12,897</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Total Costs and Expenses</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">66,684</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">15,325</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">82,189</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Net Loss</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">(6,779)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">488</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">(6,291)</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">=====</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">=====</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">=====</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Net Income per equity unit</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">(0.73)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">=====</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY">See accompanying note to financial statements.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"> </P>
<P ALIGN="CENTER"> </P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"> <Page> 7</P>
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</P>
<P ALIGN="CENTER">(a New York Limited Partnership)</P>
<P ALIGN="CENTER">Statement of Operations</P>
<P ALIGN="CENTER">(unaudited)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=276>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Three Months Ended</P>
<P ALIGN="CENTER">March 31, 1999</TD>
</TR>
</TABLE>
</P>

<P>							</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=654>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P>Limited</P>
<P>Partners</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P>General</P>
<P>Partners</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">

<P>Total</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Revenue:</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Operating revenue</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">31,350</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">8,333</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">39,683</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Interest income</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">595</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">38</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">633</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Total Revenue</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">31,945</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">8,371</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">40,316</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Costs and Expenses:</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Production expense</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">26,534</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">7,053</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">33,587</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>General and administrative</P>
<P> to a related party</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">11,850</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">3,150</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">15,000</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>General and administrative</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">1,978</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">526</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">2,504</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Depreciation, depletion</P>
<P> and amortization</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">11,992</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">765</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">12,757</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Total Costs and Expenses</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">52,354</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">11,494</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">63,848</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">--------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">---------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Net Loss</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">(20,409)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(3,123)</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">(23,532)</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">=========</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Net Income per equity unit</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>$</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">(2.21)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="17%" VALIGN="TOP"> </TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY">See accompanying note to financial statements.</P>

<P ALIGN="CENTER"> </P>
<P> </P>
<P><page> 8</P>
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</P>
<P ALIGN="CENTER">(a New York Limited Partnership)</P>
<P ALIGN="CENTER">Statement of Changes in Partners' Equity</P>
<P ALIGN="CENTER">(unaudited)</P>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=690>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P>Limited</P>
<P>Partners</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P>General</P>
<P>Partners</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">

<P>Total</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Balance at December 31, 1998</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">1,033,627</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,845</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,035,472</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Partner's contribution</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">0</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,890</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,890</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Distribution to partners</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(23,090)</TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(5,817)</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(28,907)</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Net Income</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">(31,908)</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">1,552</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(30,356)</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">-------------</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">-------------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">-------------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Balance at December 31, 1999</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">978,629</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(530)</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">978,099</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Partner's contribution</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">0</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">626</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">626</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>  Net Income</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(6,779)</TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">488</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">(6,291)</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">-------------</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">-------------</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">-------------</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP">
<P>Balance at March 31, 2000</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">971,850</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">584</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">972,434</TD>
</TR>
<TR><TD WIDTH="43%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="4%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="5%" VALIGN="TOP"> </TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY"> </P>
<P ALIGN="JUSTIFY">See accompanying note to financial statements.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"> </P>
<P> </P>
<P><page> 9</P>
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</P>
<P ALIGN="CENTER">(a New York Limited Partnership)</P>
<P ALIGN="CENTER">Statement of Cash Flows</P>
<P ALIGN="CENTER">(unaudited)</P>
<P ALIGN="CENTER"></P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=667>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">Three months</P>
<P ALIGN="CENTER">ended March 31, 2000</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="CENTER">Three months</P>
<P ALIGN="CENTER">ended March 31, 1999</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Net cash provided by operating activities</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="CENTER">$</TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">23,111</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">18,882</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Cash flows from investing activities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>  Investment in wells and related facilities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">(5,222)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">0</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Net cash used in investing activities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">(5,222)</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">0</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Cash flows from financing activities</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP"> </TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>  Partner's contribution</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">626</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">846</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Net cash provided by financing activities  </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">626</TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">846</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Net increase(decrease) in cash and cash equivalents</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">18,515</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">19,728</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Cash and cash equivalents at  beginning of period</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">41,313</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">43,948</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">----------</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">----------</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>Cash and cash equivalents at end of period</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">59,828</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">$</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">63,676</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">======</TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="RIGHT">======</TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP"> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2> </TD>
<TD WIDTH="3%" VALIGN="TOP"> </TD>
<TD WIDTH="19%" VALIGN="TOP"> </TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">See accompanying note to financial statements.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"><page> 10</P>
<B><P ALIGN="CENTER"></P></B>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">STERLING DRILLING FUND 1984-1</TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">(a New York limited partnership)</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Note to Financial Statements</TD>
</TR>
<TR><TD VALIGN="TOP"> </TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">March 31, 2000</TD>
</TR>
</TABLE>

<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"> </P>
<P ALIGN="CENTER"> </P>
<P>1. The accompanying statements for the period ending March 31, 2000 are unaudited but reflect all adjustments necessary to present fairly the results of operations.  </P>
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