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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
 FORM 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2004 Or o 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
    
    (I.R.S. Employerincorporation or organization)
    
    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 Securities registered pursuant to Section 12(b) of the Act: None. Securities registered pursuant to Section 12(g) of the Act:
Limited and general partnership interest $1,000 per interest Indicate by check mark whether the registrant (1) has filed all reports required to be filed by
Section 13 of 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.þ Yes o No No market currently exists for the limited and general partnership interest of the registrant.
Based on original purchase price the aggregate market value of limited and general partnership
interest owned by non-affiliates of the registrant is $18,000,000. The following documents are incorporated by reference into the indicated parts of this Annual
Report on Form 10-K; Part of the information called for by Part IV of the Annual Report on Form
10-K is incorporated by reference from the Registrants
Registration Statement on Form   S-1, File
No. 333-85994-01.




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TABLE OF CONTENTS  
 PART IITEM 1. BusinessITEM 2. PropertiesITEM 3. Legal ProceedingsITEM 4. Submission of Matters to a Vote of Security HoldersPART IIITEM 5. Market for Registrants Common Equity and Related Stockholder MattersITEM 6. Selected Financial DataITEM 7. Managements Discussion and Analysis of Financial Condition and Results of OperationsITEM 8. Financial Statements and Supplementary DataITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureITEM 9A. Controls and ProceduresPART IIIITEM 10. Directors and Executive Officers of the RegistrantITEM 11. Executive CompensationITEM 12. Security Ownership of Certain Beneficial Owners and ManagementITEM 13. Certain Relationships and Related TransactionsPART IVITEM 14. Principal Accountant Fees and ServicesITEM 15. Exhibits, Financial Statements, Financial Statement Schedules and Reports on Form 8-KSIGNATURESINDEX TO EXHIBITSCertification of CEO Pursuant to Section 302Certification of CFO Pursuant to Section 302Certification of CEO Pursuant to Section 906Certification of CFO Pursuant to Section 906Certification of CEO Pursuant to Section 302Certification of CFO Pursuant to Section 302Certification of CEO Pursuant to Section 906Certification of CFO Pursuant to Section 906
  2




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PART I 
 ITEM 1. Business Mewbourne Energy Partners 03-A, L.P. (the Registrant) is a limited partnership organized under
the laws of the State of Delaware on February 19, 2003 (date of inception). Its managing general
partner is Mewbourne Development Corporation, a Delaware corporation (MD). A Registration Statement was filed pursuant to the Securities Act of 1933, as amended, registering
limited and general partnership interests in a series of two Delaware limited partnerships formed
under Mewbourne Energy 02-03 Drilling Programs. General and limited partnership interests were
offered at $1,000 each. The maximum offering amount was $18,000,000 (18,000 interests) per
partnership. The Registrant was declared effective by the Securities and Exchange Commission on
May 16, 2003. On July 9, 2003, the offering of limited and general partnership interests in the
Registrant was closed, with interests aggregating $18,000,000 being sold to 710 subscribers of
which $16,107,005 were sold to 644 subscribers as general partner interests and $1,892,995 were
sold to 66 subscribers as limited partner interests. The Registrant engages primarily in oil and gas development and production and is not involved in
any other industry segment. See the selected financial data in Item 6 and the financial statements
in Item 8 of this report for a summary of the Registrants revenue, income and identifiable assets. The sale of crude oil and natural gas produced by the Registrant will be affected by a number of
factors that are beyond the Registrant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 Registrant. The Registrant does not have long-term contracts with purchasers of its crude oil or natural gas.
The market for crude oil is such that the Registrant anticipates it will be able to sell all the
crude oil it can produce. Natural gas will be sold to local distribution companies, gas marketers
and end users on the spot market. The spot market reflects immediate sales of natural gas without
long-term contractual commitments. The future market condition for natural gas cannot be predicted
with any certainty, and the Registrant may experience delays in marketing natural gas production
and fluctuations in natural gas prices. Many aspects of the Registrants activities are highly competitive including, but not limited to,
the acquisition of suitable drilling prospects and the procurement of drilling and related oil
field equipment, and are subject to governmental regulation, both at Federal and state levels. The
Registrants ability to compete depends on its financial resources and on the managing general
partners staff and facilities, none of which are significant in comparison with those of the oil
and gas exploration, development and production industry as a whole. Federal and state regulation
of oil and gas operations generally includes drilling and spacing of wells on producing acreage,
the imposition of maximum allowable production rates, the taxation of income and other items, and
the protection of the environment. 3




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The Registrant does not have any employees of its own. MD is responsible for all management
functions. Mewbourne Oil Company (MOC), a wholly owned subsidiary of Mewbourne Holdings, Inc.,
which is also the parent of the Registrants managing general partner, has been appointed Program
Manager and is responsible for activities in accordance with a Drilling Program Agreement entered
into by the Registrant, MD and MOC. At March 29, 2005, MOC employed 150 persons, many of whom
dedicated a part of their time to the conduct of the Registrants business during the period for
which this report is filed. The production of oil and gas is not considered subject to seasonal factors although the price
received by the Registrant for natural gas sales will generally tend to increase during the winter
months. Order backlog is not pertinent to the Registrants business. 
 ITEM 2. Properties The Registrants properties consist primarily of leasehold interests in properties on which oil and
gas wells-in-progress are located. Such property interests are often subject to landowner
royalties, overriding royalties and other oil and gas leasehold interests. Fractional working interests in developmental oil and gas prospects located primarily in the
Anadarko Basin of Western Oklahoma, the Texas Panhandle, and the Permian Basin of New Mexico and
West Texas, were acquired by the Registrant, resulting in the Registrants participation in the
drilling of oil and gas wells. At December 31, 2004, 63 wells had been drilled and were productive
and 7 wells had been drilled and abandoned. The following table summarizes the Registrants
drilling activity for the year ended December 31, 2004 and for the period from February 19, 2003
(date of inception) through December 31, 2003: 2004
    
    
    2003Gross
    
    
    Net
    
    
    Gross
    
    
    NetDevelopment WellsOil and natural gas wells
    
    
    40
    
    
    
    6.643
    
    
    
    23
    
    
    
    4.211Non-productive wells
    
    
    0
    
    
    
    0
    
    
    
    7
    
    
    
    1.542
 Reserve estimates were prepared by Forrest A Garb & Associates, Inc., the Registrants independent
petroleum consultants, in accordance with guidelines established by the Securities and Exchange
Commission. 
 ITEM 3. Legal Proceedings The Registrant is not aware of any pending legal proceedings to which it is a party. 
 ITEM 4. Submission of Matters to a Vote of Security Holders No matter was submitted to a vote of security holders during the period ended December 31, 2004
covered by this report. 4




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PART II 
 ITEM 5. Market for Registrants Common Equity and Related Stockholder Matters At March 29, 2005, the Registrant had 18,000 outstanding limited and general partnerships interests
held of record by 710 subscribers. There is no established public or organized trading market for
the limited and general partner interests. Revenues which, in the sole judgment of the managing general partner, are not required to meet the
Registrants obligations will be distributed to the partners at least quarterly in accordance with
the Registrants Partnership Agreement. Distributions made to limited and general partners during
the year ended December 31, 2004 and for the period from February 19, 2003 (date of inception)
through December 31, 2003 were $4,746,991 and $180,000, respectively. 
 ITEM 6. Selected Financial Data The following table sets forth selected financial data for the year ended December 31, 2004 and for
the period from February 19, 2003 (date of inception) through December 31, 2003: Operating results
    
    2004
    
    
    2003Oil and gas sales
    
    $
    7,458,796
    
    
    $
    370,391Net income
    
    $
    3,492,274
    
    
    $
    99,165Basic and diluted net income per
limited and general partner interests
(18,000 outstanding)
    
    $
    194.02
    
    
    $
    5.51At year-end:Total Assets
    
    $
    17,370,937
    
    
    $
    18,392,821Cash Distributions
    
    $
    4,746,991
    
    
    $
    180,000
 
 ITEM 7. Managements Discussion and Analysis of Financial
Condition and Results of Operations General Mewbourne Energy Partners 03-A, L.P., (the Registrant) was organized as a Delaware limited
partnership on February 19, 2003. 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. The offering of limited and general partner interests in the Registrant
concluded July 9, 2003, with total investor partner contributions of $18,000,000. The Registrant was formed to engage primarily in the business of drilling development wells, to
produce and market crude oil and natural gas produced from such properties, to distribute any net
proceeds from operations to the general and limited partners and to the extent necessary, acquire
leases which contain drilling prospects. The economic life of the Registrant depends on the period
over which the Registrants oil and gas reserves are economically recoverable. 5




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Results of Operations The following table sets forth certain operating data for the years ended December 31, 2004 and
2003: 2004
    
    
    2003Oil and gas sales
    
    $
    7,458,796
    
    
    $
    370,391Barrels produced
    
    
    18,591
    
    
    
    1,457Mcf produced
    
    
    1,230,543
    
    
    
    69,676Average price/bbl
    
    $
    39.05
    
    
    $
    29.88Average price/mcf
    
    $
    5.47
    
    
    $
    4.69
 Year ended December 31, 2004 compared to the year ended December 31, 2003 Oil and natural gas sales. Oil and natural gas sales increased to $7,458,796 in 2004 from $370,391
in 2003 due to additional wells being drilled and completed by the Partnership during 2004, which
resulted in a substantial increase in sales revenues and production volumes. Production volumes
increased to 1,230,543 Mcf of gas in 2004 from 69,676 Mcf in 2003, while oil volumes increased to
18,591 Bbls in 2004 from 1,457 Bbls in 2003. Interest income. Interest income decreased from $49,791 in 2003 to $20,301 in 2004 due to
expenditures for the drilling of oil and gas wells, which resulted in a decrease of capital
available for investments. Lease operating expense and production taxes. Lease operating expense increased from $22,525 in
2003 to $403,211 in 2004. Production taxes increased from $27,668 in 2003 to $593,726 in 2004.
These expenses increased as additional wells were drilled and completed in 2004. Depreciation, depletion and amortization. Depreciation, depletion and amortization increased from
$173,088 in 2003 to $2,739,865 in 2004 as additional wells were drilled and producing, therefore
depleting reserves. Cost ceiling write-downs. There was a cost ceiling write-down for the year ended December 31, 2003
of $83,646, while at December 31, 2004 there was no cost ceiling write-down. Liquidity and capital resources Net cash decreased by $5,548,284 during the year ended December 31, 2004. These funds were
utilized primarily for drilling and completion costs. Cash flows from operating activities were
offset by funds utilized primarily for drilling and completion costs and cash distributions to
partners. Substantially all wells for which funds have been committed have been drilled. Any
incidental future capital expenditures incurred will be paid with revenues generated through oil
and gas sales. Revenues which, in the sole judgment of the managing general partner, are not
required to meet the Registrants obligations will be distributed to the partners at least
quarterly in accordance with the Registrants Partnership Agreement. 6




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Critical Accounting Policies The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates. Significant estimates inherent in the Registrants financial statements include the estimate of oil
and gas reserves and future abandonment costs as reported in the footnotes to the financial
statements. Changes in oil and gas prices, changes in production estimates and the success or
failure of future development activities could have a significant effect on reserve estimates. The
reserve estimates directly impact the computation of depreciation, depletion, and amortization,
asset retirement obligation, and the ceiling test for the Registrants oil and gas properties. The Registrant follows the full-cost method of accounting for its oil and gas activities. Under
the full-cost method, all productive and non-productive 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. Oil
and gas properties are subject to a quarterly ceiling test that limits such costs to the aggregate
of that present value of future net cash flows of proved reserves and the lower of cost or fair
value of unproved properties. The present value of future net cash flows has been prepared
assuming year-end selling prices, year-end development and production costs and a 10 percent annual
discount rate. All financing activities of the Registrant are reported in the financial statements. The
Registrant does not engage in any off-balance sheet financing arrangements. On September 28, 2004 the Security and Exchange Commission issued Staff Accounting Bulletin No. 106
(SAB No. 106). The interpretations in SAB No. 106 express the staffs views regarding the
application of FASB Statement No. 143, Accounting for Asset Retirement Obligations, by oil and
gas producing companies following the full cost accounting method. Under Statement 143, the Partnership must recognize a liability for an asset retirement obligation
at fair value in the period in which the obligation is incurred, if a reasonable estimate of fair
value can be made. The Partnership also must initially capitalize the associated asset retirement
costs by increasing its full cost pool by the same amount as the liability. Under the full cost
method of accounting, the Partnership calculates quarterly a limitation on capitalized costs, i.e.,
the full cost ceiling of our oil and natural gas properties and any asset retirement costs
capitalized pursuant to Statement 143 are subject to the full cost ceiling limitation. SAB No. 106
provides that after adoption of Statement 143, the future cash outflows associated with settling
asset retirement obligations that have been accrued on the balance sheet should be excluded from
the computation of the present value of estimated future net revenues for purposes of the full cost
ceiling calculation. Currently, the future cash outflows associated with settling asset retirement
obligations are included in the computation of the present value of estimated future reserves for
purposes of the full cost ceiling calculation. The amount of the full cost pool subject to the
ceiling test is decreased by the amount of the asset retirement obligation liability. The effect
of this interpretation will increase the ceiling as it relates to the Partnerships full cost pool
and will increase the amount of the full cost pool that is subject to the ceiling. The Partnership
does not expect SAB 106 to have a material impact on the calculation of its full cost ceiling test. 7




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The estimated dismantlement and abandonment costs for the Partnerships oil and natural gas
properties that have been capitalized have been included in the costs used when calculating the
depreciation, depletion and amortization (DD&A) rate used to amortize the properties. Future
development activities on proved reserves may result in additional asset retirement obligations
when such activities are performed and the associated asset retirement costs will be capitalized at
that time. Under the interpretations in SAB No. 106 to the extent that estimated dismantlement and
abandonment costs, net of estimated salvage values, have not been capitalized for future
development activity, the Partnership will be required to estimate the amount of dismantlement and
abandonment costs that will be incurred and include those amounts in the costs to be amortized.
The Partnership has not yet determined the full impact this will have on DD&A but it is not
expected to be material. Asset Retirement Obligations In accordance with FAS 143, the Partnership has recognized an estimated liability for future
plugging and abandonment costs. The estimated liability is based on historical experience and
estimated well life. 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. The
Partnership recognizes accretion expense in connection with the discounted liability over the
remaining life of the well. A reconciliation of the Partnerships liability for well plugging and abandonment costs for the
year ended December 31, 2004 and for the period from February 19, 2003 (date of inception) through
December 31, 2003, is as follows: 2004
    
    
    2003Balance, beginning of period
    
    $
    145,139
    
    
    $
    0Liabilities incurred
    
    
    209,842
    
    
    
    136,420Accretion expense
    
    
    24,041
    
    
    
    8,719Balance, end of period
    
    $
    379,022
    
    
    $
    145,139
 Organization and Related Party Transactions The Partnership was organized on February 19, 2003. Mewbourne Development Corporation (MD) is
managing general partner and Mewbourne Oil Company (MOC) is operator of oil and gas properties
owned by the Partnership. Mewbourne Holdings, Inc. is the parent of both MD and MOC.
Substantially all transactions are with MD and MOC. In the ordinary course of business, MOC will incur certain costs that will be passed on to well
owners of the well on which the costs were incurred. The partnership will receive their portion of
these costs based upon their ownership in each well incurring the costs. These costs are referred
to as Operator charges and are standard and customary in the oil and gas industry. Operator
charges include recovery of gas marketing costs, fixed rate overhead, supervision, pumping, and
equipment furnished by the Operator. Reimbursement to MOC for operator charges totaled $834,580
and $389,778 for the year ended December 31, 2004 and for the period from February 19, 2003 (date
of inception) through December 31, 2003, respectively. Operator charges are billed in accordance
with the program and partnership agreements. 8




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In general, during any particular calendar year, the total amount of administrative expenses
allocated to the Partnership shall not exceed the greater of (a) 3.5% of the Partnerships gross
revenue from the sale of oil and natural gas production during each year (calculated without any
deduction for operating costs or other costs and expenses) or (b) the sum of $50,000 plus .25% of
the capital contributions of limited and general partners. Under this arrangement, $201,067 and
$654 were allocated to the Partnership during the year ended December 31, 2004 and for the period
from February 19, 2003 (date of inception) through December 31, 2003, respectively. The Partnership participates in oil and gas activities through a Drilling Program Agreement, the
Program. The Partnership and MD are parties to the Program agreement. The costs and revenues of
the Program are allocated to MD and the Partnership as follows: Partnership
    
    
    MDRevenues:Proceeds from disposition of depreciable
and depletable properties
    
    
    60
    %
    
    
    40
    %All other revenues
    
    
    60
    %
    
    
    40
    %Costs and expenses:Organization and offering costs (1)
    
    
    0
    %
    
    
    100
    %Lease acquisition costs (1)
    
    
    0
    %
    
    
    100
    %Tangible and intangible drilling costs (1)
    
    
    100
    %
    
    
    0
    %Operating costs, reporting and legal expenses,
general and administrative expenses
and all other costs
    
    
    60
    %
    
    
    40
    %
 (1) As noted above, pursuant to the Program, MD must contribute 100% of organization and offering
costs and lease acquisition costs which will approximate 30% of total capital costs. To the extent
that organization and offering costs and lease acquisition costs are less than 30% of total capital
costs, MD is responsible for tangible drilling costs until its share of the Programs total capital
costs reaches approximately 30%. The Partnerships financial statements reflect its respective proportionate interest in the
Program. 9




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ITEM 8. Financial Statements and Supplementary Data The required financial statements of the Registrant are contained in a separate section of this
report following the signature attestation. See Item 15. Exhibits, Financial Statement Schedules
and Reports on Form 8-K. 
 ITEM 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure None. 
 ITEM 9A. 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. 10




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PART III 
 ITEM 10. Directors and Executive Officers of the Registrant The Registrant does not have any officers or directors. Under the Registrants Partnership
Agreement, the Registrants managing partner, MD, is granted the exclusive right and full authority
to manage, control and administer the Registrants business. MD is a wholly owned subsidiary of
Mewbourne Holdings, Inc. Set forth below are the names, ages and positions of the directors and executive officers of MD,
the Registrants managing general partner. Directors of MD are elected to serve until the next
annual meeting of stockholders or until their successors are elected and qualified. Age as ofDecember 31,Name
    
    2004
    
    PositionCurtis W. Mewbourne
    
    
    69
    
    
    President and DirectorJ. Roe Buckley
    
    
    42
    
    
    Vice President and Chief Financial OfficerAlan Clark
    
    
    52
    
    
    TreasurerMichael F. Shepard
    
    
    58
    
    
    Secretary and General CounselDorothy M. Cuenod
    
    
    44
    
    
    Assistant Secretary and DirectorRuth M. Buckley
    
    
    43
    
    
    Assistant Secretary and DirectorJulie M. Greene
    
    
    41
    
    
    Assistant Secretary and Director
 11




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Curtis W. Mewbourne, age 69, formed Mewbourne Holdings, Inc. in 1965 and serves as Chairman of
the Board and President of Mewbourne Holdings, MD and MOC. He has operated as an independent oil
and gas producer for the past 40 years. Mr. Mewbourne received a Bachelor of Science Degree in
Petroleum Engineering from the University of Oklahoma in 1957. Mr. Mewbourne is the father of
Dorothy M. Cuenod, Ruth M. Buckley, and Julie M. Greene and the father-in-law of J. Roe Buckley. J. Roe Buckley, age 42, joined Mewbourne Holdings, Inc. in July, 1990 and serves as Vice
President and Chief Financial Officer of both MD and MOC. Mr. Buckley was employed by Mbank Dallas
from 1985 to 1990 where he served as a commercial loan officer. He received a Bachelor of Arts in
Economics from Sewanee in 1984. Mr. Buckley is the son-in-law of Curtis W. Mewbourne and is
married to Ruth M. Buckley. He is also the brother-in-law of Dorothy M. Cuenod and Julie M.
Greene. Alan Clark, age 52, joined Mewbourne Oil Company in 1979 and serves as Treasurer and
Controller of both MD and MOC. Prior to joining MOC, Mr. Clark was employed by Texas Oil and Gas
Corporation as Assistant Supervisor of joint interest accounting from 1976 to 1979. Mr. Clark has
served in several accounting/finance positions with Mewbourne Oil Company prior to his current
assignment. Mr. Clark received a Bachelor of Business Administration from the University of Texas
at Arlington. Michael F. Shepard, age 58, joined Mewbourne Oil Company in 1986 and serves as Secretary and
General Counsel of MD. He has practiced law exclusively in the oil and gas industry since 1979 and
formerly was counsel with Parker Drilling Company and its Perry Gas subsidiary for seven years.
Mr. Shepard holds the Juris Doctor degree from the University of Tulsa where he received the
National Energy Law and Policy Institute award as the outstanding graduate in the Energy Law
curriculum. He received a B.A. degree, magna cum laude, from the University of Massachusetts in
1976. Mr. Shepard is a member of the bar in Texas and Oklahoma. Dorothy Mewbourne Cuenod, age 44, received a B.A. degree in Art History from The University of
Texas and a Masters of Business Administration Degree from Southern Methodist University. Since
1984 she has served as a Director and Assistant Secretary of both MD and MOC. Ms. Cuenod is the
daughter of Curtis W. Mewbourne and is the sister of Ruth M. Buckley and Julie M. Greene. She is
also the sister-in-law of J. Roe Buckley. Ruth Mewbourne Buckley, age 43, received a Bachelor of Science Degree in both Engineering and
Geology from Vanderbilt University. Since 1987 she has served as a Director and Assistant
Secretary of both MD and MOC. Ms. Buckley is the daughter of Curtis W. Mewbourne and is the sister
of Dorothy M. Cuenod and Julie M. Greene. She is also the wife of J. Roe Buckley. Julie Mewbourne Greene, age 41, received a B.A. degree in Business Administration from The
University of Oklahoma. Since 1988 she has served as a Director and Assistant Secretary of both MD
and MOC. Prior to that time she was employed by Rauscher, Pierce, Refsnes, Inc. Ms. Greene is the
daughter of Curtis W. Mewbourne and is the sister of Dorothy M. Cuenod and Ruth M. Buckley. She is
also the sister-in-law of J. Roe Buckley. 12




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ITEM 11. Executive Compensation The Registrant does not have any officers or directors. Management of the Registrant is vested in
the managing general partner. None of the officers or directors of MD or MOC will receive
remuneration directly from the Registrant, but will continue to be compensated by their present
employers. The Registrant will reimburse MD and MOC and affiliates thereof for certain costs of
overhead falling within the definition of Administrative Costs, including without limitation,
salaries of the officers and employees of MD and MOC; provided that no portion of the salaries of
the directors or of the executive officer of MOC or MD may be reimbursed as Administrative Costs. 
 ITEM 12. Security Ownership of Certain Beneficial Owners and Management (a) Beneficial owners of more than five percent Name of
    
    Amount & Nature
    
    PercentBeneficial
    
    of Beneficial
    
    ofTitle of Class
    
    Owner
    
    Owner
    
    ClassNone
    
    None
    
    N/A
    
    N/A
 (b) Security ownership of management The Registrant does not have any officers or directors. The managing general partner of the
Registrant, MD, has the exclusive right and full authority to manage, control and administer the
Registrants business. Under the Registrants Partnership Agreement, limited and general partners
holding a majority of the outstanding limited and general partnership interests have the right to
take certain actions, including the removal of the managing general partner. The Registrant is not
aware of any current arrangement or activity that may lead to such removal. 
 ITEM 13. Certain Relationships and Related Transactions Transactions with MD and its affiliates Pursuant to the Registrants Partnership Agreement, the Registrant had the following related party
transactions with MD and its affiliates during the year ended December 31, 2004 and for the period
from February 19, 2003 (date of inception) through December 31, 2003: 2004
    
    2003Administrative & general expense and payment of
well charges and supervision charges in accordance
with standard industry operating agreements
    
    $
    1,035,647
    
    
    $
    390,432
 The Registrant participates in oil and gas activities through a drilling program created by the
Drilling Program Agreement (the Program). Pursuant to the Program, MD pays approximately 30% of
the Programs capital expenditures and approximately 40% of its operating and general and
administrative expenses. The Registrant pays the remainder of the costs and expenses of the
Program. In return, MD is allocated approximately 40% of the Programs revenues. 13




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PART IV 
 ITEM 14. Principal Accountant Fees and Services For the Year Ended December, 31,2004
    
    
    2003Audit
    
    $
    20,777
    
    
    $
    13,785Tax Fees
    
    $
    4,454
    
    
    $
    4,756$
    25,231
    
    
    $
    18,541
 The Partnership has retained PricewaterhouseCoopers LLP as their independent registered public
accounting firm. 
 ITEM 15. Exhibits, Financial Statements, Financial Statement Schedules and Reports on Form 8-K  (a)
    1.      Financial statements The following are filed as part of this annual report: Report of Independent Registered Public Accounting Firm Balance sheets as of December 31, 2004 and 2003 Statements of operations for the year ended December 31, 2004 and
for the period from February 19, 2003 (date of inception)
through December 31, 2003 Statements of changes in partners capital for the year ended
December 31, 2004 and for the period from February 19, 2003
(date of inception) through December 31, 2003 Statements of cash flows for the year ended December 31, 2004 and
for the period from February 19, 2003 (date of inception)
through December 31, 2003 Notes to financial statements  2.
    Financial statement schedulesNone.
All required information is in the financial statements or the notes thereto,
or is not applicable or required.3.
    ExhibitsThe exhibits listed on the accompanying index are filed or incorporated by
reference as part of this annual report.  (b)
    Reports on Form 8-KNone. 14




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##### Table of Contents



SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
Registrant 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 CorporationManaging General PartnerBy:
    
    /s/ Curtis W. MewbourneCurtis W. MewbournePresident and Director(Principal Executive Officer)
 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed
below by the following persons on behalf of the Registrant and in the capacities and on the date
indicated. /s/ Curtis W. Mewbourne
    
    President/Director
    
    March 29, 2005Curtis W. Mewbourne/s/ J. Roe Buckley
    
    Vice President
    
    March 29, 2005Chief Financial OfficerJ. Roe Buckley/s/ Alan Clark
    
    Treasurer
    
    March 29, 2005Alan Clark/s/ Dorothy M. Cuenod
    
    Director
    
    March 29, 2005Dorothy M. Cuenod/s/ Ruth M. Buckley
    
    Director
    
    March 29, 2005Ruth M. Buckley/s/ Julie M. Greene
    
    Director
    
    March 29, 2005Julie M. Greene
 Supplemental Information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by
Registrants Which Have Not Registered Securities Pursuant to Section 12 of the Act No annual report or proxy material has been sent to the Registrants security holders. 15




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##### Table of Contents



MEWBOURNE ENERGY PARTNERS 03-A, L.P. FINANCIAL STATEMENTS WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM For the year ended December 31, 2004 and for the period from
February 19, 2003 (date of inception) through December 31, 2003 16




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##### Table of Contents



Report of Independent Registered Public Accounting Firm To the Partners of Mewbourne Energy Partners 03-A, L.P. and to the Board of Directors of Mewbourne
Development Corporation: In our opinion, the accompanying balance sheets and the related statements of operations, of
changes in partners capital and of cash flows present fairly, in all material respects, the
financial position of Mewbourne Energy Partners 03-A, L.P. at December 31, 2004 and 2003 and the
results of its operations and its cash flows for the year ended December 31, 2004 and the period
from February 19, 2003 (date of inception) through December 31, 2003 in conformity with accounting
principles generally accepted in the United States of America. These financial statements are the
responsibility of the Companys management. Our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of these statements in
accordance with the standards of the Public Company Accounting Oversight Board (United States).
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,
assessing the accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion. /s/ PricewaterhouseCoopers LLP Dallas, Texas
March 29, 2005 17




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##### Table of Contents



Mewbourne Energy Partners 03-A, L.P. BALANCE SHEETS  2004
    
    
    2003ASSETSCash and cash equivalents
    
    $
    3,652
    
    
    $
    5,551,936Accounts receivable, affiliate
    
    
    1,689,829
    
    
    
    307,252Total current assets
    
    
    1,693,481
    
    
    
    5,859,188Prepaid well cost
    
    
    45,685
    
    
    
    4,128,424Oil and gas properties at cost, full cost method
    
    
    18,628,370
    
    
    
    8,661,943Less accumulated depreciation, depletion,
amortization and impairment
    
    
    (2,996,599
    )
    
    
    (256,734
    )15,631,771
    
    
    
    8,405,209Total assets
    
    $
    17,370,937
    
    
    $
    18,392,821LIABILITIES AND PARTNERS CAPITALAccounts payable, affiliate
    
    $
    327,467
    
    
    $
    328,517Asset retirement obligation plugging liability
    
    
    379,022
    
    
    
    145,139Partners capitalGeneral partners
    
    
    14,911,908
    
    
    
    16,034,671Limited partners
    
    
    1,752,540
    
    
    
    1,884,494Total partners capital
    
    
    16,664,448
    
    
    
    17,919,165Total liabilities and partners capital
    
    $
    17,370,937
    
    
    $
    18,392,821
 The accompanying notes are an integral part of the financial statements. 18




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##### Table of Contents



Mewbourne Energy Partners 03-A, L.P. STATEMENTS OF OPERATIONS
For the year ended December 31, 2004 and for the period from
February 19, 2003 (date of inception) through December 31, 2003 2004
    
    
    2003Revenues and other income:Oil and gas sales
    
    $
    7,458,796
    
    
    $
    370,391Interest income
    
    
    20,301
    
    
    
    49,7917,479,097
    
    
    
    420,182Expenses:Lease operating expense
    
    
    403,211
    
    
    
    22,525Production taxes
    
    
    593,726
    
    
    
    27,668Administrative and general expense
    
    
    225,980
    
    
    
    5,371Depreciation, depletion, and amortization
    
    
    2,739,865
    
    
    
    173,088Cost ceiling write-down
    
    
    0
    
    
    
    83,646Asset retirement obligation accretion
    
    
    24,041
    
    
    
    8,7193,986,823
    
    
    
    321,017Net income
    
    $
    3,492,274
    
    
    $
    99,165Allocation of net income:General partners
    
    $
    3,125,003
    
    
    $
    88,736Limited partners
    
    $
    367,271
    
    
    $
    10,429Basic and diluted net income per
limited and general partner interest
(18,000 interests outstanding)
    
    $
    194.02
    
    
    $
    5.51
 The accompanying notes are an integral part of the financial statements. 19




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##### Table of Contents



Mewbourne Energy Partners 03-A, L.P. STATEMENT OF CHANGES IN PARTNERS CAPITAL
For the year ended December 31, 2004 and for the period from
February 19, 2003 (date of inception) through December 31, 2003 General
    
    
    LimitedPartners
    
    
    Partners
    
    
    TotalBalance at February 19, 2003
    
    $
    0
    
    
    $
    0
    
    
    $
    0Capital contributions
    
    
    16,107,005
    
    
    
    1,892,995
    
    
    
    18,000,000Cash distributions
    
    
    (161,070
    )
    
    
    (18,930
    )
    
    
    (180,000
    )Net income
    
    
    88,736
    
    
    
    10,429
    
    
    
    99,165Balance at December 31, 2003
    
    $
    16,034,671
    
    
    $
    1,884,494
    
    
    $
    17,919,165Cash distributions
    
    
    (4,247,766
    )
    
    
    (499,225
    )
    
    
    (4,746,991
    )Net income
    
    
    3,125,003
    
    
    
    367,271
    
    
    
    3,492,274Balance at December 31, 2004
    
    $
    14,911,908
    
    
    $
    1,752,540
    
    
    $
    16,664,448
 The accompanying notes are an integral part of the financial statements. 20




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##### Table of Contents



Mewbourne Energy Partners 03-A, L.P. STATEMENTS OF CASH FLOWS
For the year ended December 31, 2004 and for the period from
February 19, 2003 (date of inception) through December 31, 2003 2004
    
    
    2003Cash flows from operating activities:Net income
    
    $
    3,492,274
    
    
    $
    99,165Adjustment to reconcile net income to
net cash provided by operating activities:Depreciation, depletion and amortization
    
    
    2,739,865
    
    
    
    173,088Cost ceiling write-down
    
    
    0
    
    
    
    83,646Asset retirement obligation accretion
    
    
    24,041
    
    
    
    8,719Changes in operating assets and liabilities:Accounts receivable, affiliate
    
    
    (1,382,577
    )
    
    
    (307,252
    )Accounts payable, affiliate
    
    
    (1,050
    )
    
    
    328,517Net cash provided by operating activities
    
    
    4,872,553
    
    
    
    385,883Cash flows from investing activities:Purchase and development of oil and gas properties
    
    
    (5,628,161
    )
    
    
    (8,525,523
    )Prepaid well cost
    
    
    (45,685
    )
    
    
    (4,128,424
    )Net cash used in investing activities
    
    
    (5,673,846
    )
    
    
    (12,653,947
    )Cash flows from financing activities:Capital contributions from partners
    
    
    0
    
    
    
    18,000,000Cash distributions to partners
    
    
    (4,746,991
    )
    
    
    (180,000
    )Net cash provided by (used in) financing activities
    
    
    (4,746,991
    )
    
    
    17,820,000Net increase (decrease) in cash and cash equivalents
    
    
    (5,548,284
    )
    
    
    5,551,936Cash and cash equivalents, beginning of period
    
    
    5,551,936
    
    
    
    0Cash and cash equivalents, end of period
    
    $
    3,652
    
    
    $
    5,551,936
 The accompanying notes are an integral part of the financial statements. 21




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Mewbourne Energy Partners 03-A, L.P. NOTES TO FINANCIAL STATEMENTS  1.
    Significant Accounting Policies:Accounting for Oil and Gas Producing Activities Mewbourne Energy Partners 03-A, L.P., (the Partnership), a Delaware limited partnership engaged
primarily in oil and gas development and production in Texas, Oklahoma, and New Mexico, was
organized on February 19, 2003. 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, (the Program), and concluded July 9, 2003, with total investor contributions
of $18,000,000 being sold to 710 subscribers of which $16,107,005 were sold to 644 subscribers as
general partner interests and $1,892,995 were sold to 66 subscribers as limited partner interests. The Programs sole business is the development and production of oil and gas with a concentration
on gas. Substantially all of the Programs gas reserves are being sold regionally in the spot
market. Due to the highly competitive nature of the spot market, prices are subject to seasonal
and regional pricing fluctuations. In addition, such spot market sales are generally short-term in
nature and are dependent upon obtaining transportation services provided by pipelines. The prices
received for the Programs oil and gas are subject to influences such as global consumption and
supply trends. The Partnership follows the full-cost method of accounting for its oil and gas activities. Under
the full-cost method, all productive and non-productive 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
December 31, 2004, substantially all capitalized costs were subject to amortization, while at
December 31, 2003, approximately $0.5 million of capitalized costs were excluded from amortization.
Proceeds from the sale or other disposition of properties are credited to the full cost pool.
Gains and losses 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 quarterly 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. There was no cost ceiling write-down for the year ended December 31, 2004, while at
December 31, 2003 there was a cost ceiling write-down of $83,646. Significant estimates inherent in the Registrants financial statements include the estimate of oil
and gas reserves and future abandonment costs as reported in the footnotes to the financial
statements. Changes in oil and gas prices, changes in production estimates and the success or
failure of future development activities could have a significant effect on reserve estimates. The
reserve estimates directly impact the computation of depreciation, depletion, and amortization,
asset retirement obligation, and the ceiling test for the Registrants oil and gas properties. The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates. 22




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Cash and cash equivalents The Partnership considers all highly liquid investments, those with original maturities of three
months or less at the date of acquisition, to be cash equivalents. The Partnership maintains all its cash in one financial institution. Asset Retirement Obligations In accordance with FAS 143, the Partnership has recognized an estimated liability for future
plugging and abandonment costs. The estimated liability is based on historical experience and
estimated well life. 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. The
Partnership recognizes accretion expense in connection with the discounted liability over the
remaining life of the well. A reconciliation of the Partnerships liability for well plugging and abandonment costs for the
year ended December 31, 2004 and for the period from February 19, 2003 (date of inception) through
December 31, 2003, is as follows: 2004
    
    
    2003Balance, beginning of period
    
    $
    145,139
    
    
    $
    0Liabilities incurred
    
    
    209,842
    
    
    
    136,420Accretion expense
    
    
    24,041
    
    
    
    8,719Balance, end of period
    
    $
    379,022
    
    
    $
    145,139
 Oil and Gas Sales The Programs oil and condensate production is sold, title passed, and revenue recognized at or
near the Programs wells under short-term purchase contracts at prevailing prices in accordance
with arrangements which are customary in the oil industry. Sales of gas applicable to the
Programs interest are recorded as revenue when the gas is metered and title transferred pursuant
to the gas sales contracts covering the Programs interest in gas reserves. The Partnership uses
the sales method to recognize oil and gas revenue whereby revenue is recognized for the amount of
production taken regardless of the amount for which the Partnership is entitled based on its
working interest ownership. As of December 31, 2004 and 2003, no material gas imbalances between
the Partnership and other working interest owners existed. Income Taxes The Partnership is treated as a partnership for income tax purposes, and as a result, income of the
Partnership is reported on the tax returns of the partners and no recognition is given to income
taxes in the financial statements. 23




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##### Table of Contents



2.
    Organization and Related Party Transactions: The Partnership was organized on February 19, 2003. Mewbourne Development Corporation (MD) is
managing general partner and Mewbourne Oil Company (MOC) is operator of oil and gas properties
owned by the Partnership. Mewbourne Holdings, Inc. is the parent of both MD and MOC.
Substantially all transactions are with MD and MOC. In the ordinary course of business, MOC will incur certain costs that will be passed on to well
owners of the well on which the costs were incurred. The partnership will receive their portion of
these costs based upon their ownership in each well incurring the costs. These costs are referred
to as Operator charges and are standard and customary in the oil and gas industry. Operator
charges include recovery of gas marketing costs, fixed rate overhead, supervision, pumping, and
equipment furnished by the Operator. Reimbursement to MOC for operator charges totaled $834,580
and $389,778 for the year ended December 31, 2004 and for the period from February 19, 2003 (date
of inception) through December 31, 2003, respectively. Operator charges are billed in accordance
with the program and partnership agreements. In general, during any particular calendar year, the total amount of administrative expenses
allocated to the Partnership shall not exceed the greater of (a) 3.5% of the Partnerships gross
revenue from the sale of oil and natural gas production during each year (calculated without any
deduction for operating costs or other costs and expenses) or (b) the sum of $50,000 plus .25% of
the capital contributions of limited and general partners. Under this arrangement, $201,067 and
$654 were allocated to the Partnership during the year ended December 31, 2004 and for the period
from February 19, 2003 (date of inception) through December 31, 2003, respectively. The Partnership participates in oil and gas activities through a Drilling Program Agreement, the
Program. The Partnership and MD are parties to the Program agreement. The costs and revenues of
the Program are allocated to MD and the Partnership as follows: Partnership
    
    
    MDRevenues:Proceeds from disposition of depreciable
and depletable properties
    
    
    60
    %
    
    
    40
    %All other revenues
    
    
    60
    %
    
    
    40
    %Costs and expenses:Organization and offering costs (1)
    
    
    0
    %
    
    
    100
    %Lease acquisition costs (1)
    
    
    0
    %
    
    
    100
    %Tangible and intangible drilling costs (1)
    
    
    100
    %
    
    
    0
    %Operating costs, reporting and legal expenses,
general and administrative expenses
and all other costs
    
    
    60
    %
    
    
    40
    %
    The Partnerships financial statements reflect its respective proportionate interest in the
Program. 24




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3.
    Reconciliation of Net income per Statements of Operations with Net income (loss) per Federal
Income Tax Return: The following is a reconciliation of net income per statements of operations with net income (loss)
per federal income tax return for the year ended December 31, 2004 and for the period from February
19, 2003 (date of inception) through December 31, 2003: 2004
    
    
    2003Net income per statements of operations
    
    $
    3,492,274
    
    
    $
    99,165Intangible development costs capitalized for financial
reporting purposes and expensed for tax reporting
purposes
    
    
    (4,820,465
    )
    
    
    (9,394,837
    )Dry hole costs capitalized for financial reporting
purposes and expensed for tax reporting purposes
    
    
    (24,632
    )
    
    
    (1,370,884
    )Depreciation, depletion and amortization for financial
reporting purposes over (under) amounts for tax
reporting purposes
    
    
    2,121,829
    
    
    
    (320,781
    )Cost ceiling write-down for financial reporting purposes
    
    
    0
    
    
    
    83,646Gain on sale of oil and gas equipment recognized for
tax reporting purposes
    
    
    129,525
    
    
    
    0ARO accretion expense for financial reporting purposes
    
    
    24,041
    
    
    
    8,719Net income (loss) per federal income tax return before
tentative tax depletion
    
    $
    922,572
    
    
    $
    (10,894,972
    )
 The Partnerships financial reporting bases of its net assets exceeded the tax bases of its net
assets by $13,979,384 and $11,139,276 at December 31, 2004 and 2003, respectively.  4.
    Recently Issued Accounting Standards: On September 28, 2004 the Security and Exchange Commission issued Staff Accounting Bulletin No. 106
(SAB No. 106). The interpretations in SAB No. 106 express the staffs views regarding the
application of FASB Statement No. 143, Accounting for Asset Retirement Obligations, by oil and
gas producing companies following the full cost accounting method. Under Statement 143, the Partnership must recognize a liability for an asset retirement obligation
at fair value in the period in which the obligation is incurred, if a reasonable estimate of fair
value can be made. The Partnership also must initially capitalize the associated asset retirement
costs by increasing its full cost pool by the same amount as the liability. Under the full cost
method of accounting, the Partnership calculates quarterly a limitation on capitalized costs, i.e.,
the full cost ceiling of our oil and natural gas properties and any asset retirement costs
capitalized pursuant to Statement 143 are subject to the full cost ceiling limitation. SAB No. 106
provides that after adoption of Statement 143, the future cash outflows associated with settling
asset retirement obligations that have been accrued on the balance sheet should be excluded from
the computation of the present value of estimated future net revenues for purposes of the full cost
ceiling calculation. Currently, the future cash outflows associated with settling asset retirement
obligations are included in the computation of the present value of estimated future reserves for
purposes of the full cost ceiling calculation. The amount of the full cost pool subject to the
ceiling test is decreased by the amount of the asset retirement obligation liability. The effect
of this interpretation will increase the ceiling as it relates to the Partnerships full cost pool
and will increase the amount of the full cost pool that is subject to the ceiling. The Partnership
does 25




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##### Table of Contents



not expect SAB 106 to have a material impact on the calculation of its full cost ceiling test. The estimated dismantlement and abandonment costs for the Partnerships oil and natural gas
properties that have been capitalized have been included in the costs used when calculating the
depreciation, depletion and amortization (DD&A) rate used to amortize the properties. Future
development activities on proved reserves may result in additional asset retirement obligations
when such activities are performed and the associated asset retirement costs will be capitalized at
that time. Under the interpretations in SAB No. 106 to the extent that estimated dismantlement and
abandonment costs, net of estimated salvage values, have not been capitalized for future
development activity, the Partnership will be required to estimate the amount of dismantlement and
abandonment costs that will be incurred and include those amounts in the costs to be amortized.
The Partnership has not yet determined the full impact this will have on DD&A but it is not
expected to be material.  5.
    Supplemental Oil and Gas Information: The tables presented below provide supplemental information about oil and natural gas exploration
and production activities as defined by SFAS No. 69, Disclosures about Oil and Gas Producing
Activities. Costs Incurred and Capitalized Costs: Costs incurred in oil and natural gas acquisition, exploration and development activities for the
year ended December 31, 2004 and for the period from February 19, 2003 (date of inception) through
December 31, 2003: 2004
    
    
    2003Costs incurred for the year:Development
    
    $
    9,756,584
    
    
    $
    8,525,523
 Capitalized costs related to oil and natural gas acquisition, exploration and development
activities for the year ended December 31, 2004 and for the period from February 19, 2003 (date of
inception) through December 31, 2003, are as follows: 2004
    
    
    2003Cost of oil and natural gas properties at year-end:Producing assets  Proved properties
    
    $
    18,278,947
    
    
    $
    8,050,131Asset retirement obligation
    
    
    346,263
    
    
    
    136,420Incomplete construction  Unproved properties
    
    
    3,160
    
    
    
    475,392Total capitalized cost
    
    
    18,628,370
    
    
    
    8,661,943Accumulated depreciation, depletion,
amortization and impairment
    
    
    (2,996,599
    )
    
    
    (256,734
    )Net capitalized costs
    
    $
    15,631,771
    
    
    $
    8,405,209
 Depreciation, depletion and amortization per one thousand cubic feet of gas equivalents was $2.04
and $2.21 for the year ended December 31, 2004 and 2003, respectively. Although certain wells had been drilled, completed and began producing in December 2003, a majority
of the wells were drilled and completed subsequent to December 31, 2003. 26




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Estimated Net Quantities of Proved Oil and Gas Reserves (Unaudited): Reserve estimates as well as certain information regarding future production and discounted cash
flows were determined by the Partnerships independent petroleum consultants and MOCs petroleum
reservoir engineers. The Partnership considers reserve estimates to be reasonable, however, due to
inherent uncertainties and the limited nature of reservoir data, estimates of oil and gas reserves
are imprecise and subject to change over time as additional information becomes available. There have been no favorable or adverse events that have caused a significant change in estimated
proved reserves since December 31, 2004. The Partnership has no long-term supply agreements or
contracts with governments or authorities in which it acts as producer nor does it have any
interest in oil and gas operations accounted for by the equity method. All reserves are located
onshore within the United States. Proved Reserves: Crude Oil
    
    
    Natural Gasand Condensate
    
    
    (Thousands of(bbls of Oil)
    
    
    Cubic Feet)(In thousands)Balance at February 19, 2003 (date of inception)
    
    
    0
    
    
    
    0Discoveries
    
    
    52
    
    
    
    3,344Production
    
    
    (2
    )
    
    
    (70
    )Balance at December 31, 2003 (1)
    
    
    50
    
    
    
    3,274Revisions to previous estimates
    
    
    0
    
    
    
    (200
    )Extension, discoveries and other additions
    
    
    53
    
    
    
    5,126Production
    
    
    (19
    )
    
    
    (1,231
    )Balance at December 31, 2004 (1)
    
    
    84
    
    
    
    6,969
    Standardized Measure of Discounted Future Net Cash Flows (Unaudited): For the year ended December 31, 2004 and for the period from February 19, 2003 (date of inception)
through December 31, 2003 The Standardized measure of discounted future net cash flows from estimated production of proved
oil and gas reserves is presented in accordance with the provisions of Statement of Financial
Accounting Standards No. 69, Disclosures about Oil and Gas Producing Activities (SFAS No. 69).
In computing this data, assumptions other than those mandated by SFAS No. 69 could produce
substantially different results. The Partnership cautions against viewing this information as a
forecast of future economic conditions, revenues, or fair value. 27




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The standardized measure has been prepared assuming year-end selling prices, year-end development
and production costs and a 10 percent annual discount rate. No future income tax expense has been
provided for the Partnership since it incurs no income tax liability. (See Significant Accounting
Policies  Income Taxes in Note 1 to the Financial Statements.) The year-end prices were $41.84
per barrel of oil and $5.47 for MCF of gas as of December 31, 2004 and $30.60 per barrel of oil and
$5.55 for MCF of gas as of December 31, 2003. 2004
    
    
    2003Future cash inflows
    
    $
    42,131,781
    
    
    $
    19,845,840Future production cost
    
    
    (12,775,013
    )
    
    
    (4,280,505
    )Future development cost (1)
    
    
    (331,796
    )
    
    
    (32,316
    )Future net cash flows
    
    
    29,024,972
    
    
    
    15,533,019Discount at 10 percent
    
    
    (12,736,680
    )
    
    
    (6,909,673
    )Standardized measure
    
    $
    16,288,292
    
    
    $
    8,623,346
    Summary of changes in the Standardized Measure 2004
    
    
    2003Balance, beginning of period
    
    $
    8,623,346
    
    
    $
    0Changes in value of previous years reserves due to:Sale of oil and gas production, net of related cost
    
    
    (6,461,859
    )
    
    
    (320,198
    )Extension, discoveries and improved recovery, less
related cost
    
    
    13,404,398
    
    
    
    8,943,544Accretion of discount
    
    
    862,335
    
    
    
    0Estimated development costs incurred during the year
    
    
    16,331
    
    
    
    0Change in estimated future development cost
    
    
    (315,811
    )
    
    
    0Revisions of previous estimates
    
    
    (1,853,823
    )
    
    
    0Net change in price
    
    
    237,854
    
    
    
    0Timing and other
    
    
    1,775,521
    
    
    
    0Balance, end of period
    
    $
    16,288,292
    
    
    $
    8,623,346
 28




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##### Table of Contents



MEWBOURNE ENERGY PARTNERS 03-A, L.P. 
 INDEX TO EXHIBITS The following documents are incorporated by reference in response to Item 15(a)3. EXHIBITNUMBER
    
    DESCRIPTION3.1
    
    Form of Certificate of Limited Partnership (filed as Exhibit 3.1 to Registration Statement on Form S-1, File No. 333-85994-01 and incorporated herein by reference)3.2
    
    Form of Certificate of Amendment of the Certificate of Limited Partnership (filed as Exhibit 3.2 to Registration Statement on Form S-1, File No. 333-85994-01 and incorporated herein by reference)4.1
    
    Form of Agreement of Partnership (filed as Exhibit 4.1 to Registration Statement on Form S-1, File No. 333-85994-01 and incorporated herein by reference)10.1
    
    Form of Drilling Program Agreement (filed as Exhibit 10.1 to Registration Statement on Form S-1, File No. 333-85994-01 and incorporated herein by reference)10.4
    
    Form of Operating Agreement (filed as Exhibit 10.4 to Registration Statement on Form S-1, File No. 333-85994-01 and incorporated herein by reference)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.
 29