---

|                                                                        |                                                                                          
|----------------------------------------------------------------------- | -----------------------------------------------------------------------------------------
|                                                                       
|UNITED STATES
 SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549
|                                                                       
|FORM 10-Q                                                              
|                                                                        |                                                                                          
|x                                                                       | QUARTERLY REPORT PURSUANT TO
 SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
|                                                                        | For
 the quarterly period ended September 30, 2008                                       
|                                                                        |                                                                                          
|                                                                        | or                                                                                       
|                                                                        |                                                                                          
|o                                                                       | TRANSITION REPORT PURSUANT TO
 SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                        | For the
 transition period from _________________________to_________________________     

Commission File Number 000-52578

RIDGEWOOD
ENERGY T FUND, LLC(Exact name of registrant as specified in its charter)

|                                |                    
|------------------------------- | -------------------
|Delaware                        | 27-0141421         
|(State or other jurisdiction of | (I.R.S. Employer   
|incorporation or organization)  | Identification No.)

1314 King Street, Wilmington, Delaware 19801(Address of principal executive offices) (Zip
code)

(302) 888-7444
(Registrants telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:

Shares of LLC Membership Interest

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.
           Yes x No o

Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See definitions of
large accelerated filer, accelerated filer, and smaller reporting company
in Rule 12b-2 of the Exchange Act. (Check one):

| |                                                |   |                           |  
| | ---------------------------------------------- | - | ------------------------- | -
| | Large accelerated filer                        | o | Accelerated filer         | o
| | Non-accelerated filer                          | o | Smaller reporting company | x
| | (Do not check if a smaller
 reporting company) |   |                           |  

Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the
Act). Yes o No x

There is no market for the
shares. As of October 29, 2008 there are 971.6054 shares outstanding.

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Table of Contents

|                               |                                                                                        |                                                                                                                                                |    |     
|------------------------------ | -------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------- | -- | ----
|                               |                                                                                        |                                                                                                                                                |    | Page
|PART I - FINANCIAL INFORMATION |                                                                                        | 1                                                                                                                                             
|Item 1.                        | Financial Statements:                                                                  |                                                                                                                                                | 1 
|                               |                                                                                        | Unaudited Condensed Balance Sheets as of
 September 30, 2008 and December 31, 2007                                                             |    | 1   
|                               |                                                                                        | Unaudited Condensed Statements of
 Operations and Comprehensive Income (Loss) for the three and nine months
 ended September 30, 2008 and 2007 |    | 2   
|                               |                                                                                        | Unaudited Condensed Statements of Cash
 Flows for the nine months ended September 30, 2008 and 2007                                            |    | 3   
|                               |                                                                                        | Notes to Unaudited Condensed Financial
 Statements                                                                                             |    | 4   
|Item 2.                        | Managements Discussion and Analysis of Financial Condition and
 Results of Operations |                                                                                                                                                | 9 
|Item 3.                        | Quantitative and Qualitative Disclosures about Market Risk                             |                                                                                                                                                | 16
|Item 4.                        | Controls and Procedures                                                                |                                                                                                                                                | 16
|                               |                                                                                        |                                                                                                                                                |    |     
|PART II - OTHER INFORMATION    |                                                                                        | 16                                                                                                                                            
|                               |                                                                                        |                                                                                                                                                |    |     
|Item 1.                        | Legal Proceedings                                                                      |                                                                                                                                                | 16
|Item 1A.                       | Risk Factors                                                                           |                                                                                                                                                | 16
|Item 2.                        | Unregistered Sales of Equity Securities and Use of Proceeds                            |                                                                                                                                                | 16
|Item 3.                        | Defaults Upon Senior Securities                                                        |                                                                                                                                                | 16
|Item 4.                        | Submissions of Matters to a Vote of Security Holders                                   |                                                                                                                                                | 16
|Item 5.                        | Other Information                                                                      |                                                                                                                                                | 16
|Item 6.                        | Exhibits                                                                               |                                                                                                                                                | 17
|                               |                                                                                        |                                                                                                                                                |    |     
|                               | SIGNATURES                                                                             |                                                                                                                                                | 18



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PART I -
FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTS

RIDGEWOOD
ENERGY T FUND, LLCUNAUDITED CONDENSED BALANCE SHEETS
(in thousands, except share data)

|                                                                                  |  |                     |         |                    |   |         |  
|--------------------------------------------------------------------------------- |  | ------------------- | ------- | ------------------ | - | ------- | -
|                                                                                  |  | September 30,
 2008 |         | December 31,
 2007 |  
|                                                                                  |  |                     |         |                    |  
|ASSETS                                                                            |  |                     |         |                    |   |         |  
|Current assets:                                                                   |  |                     |         |                    |   |         |  
|Cash and cash
 equivalents                                                        |  | $                   | 3,428   |                    | $ | 15,696  |  
|Short-term
 investments in marketable securities                                  |  |                     | 15,324  |                    |   | 15,024  |  
|Production
 receivable                                                            |  |                     | 749     |                    |   | 471     |  
|Other current
 assets                                                             |  |                     | 315     |                    |   | 297     |  
|                                                                                  |  |                     |         |                    |   |         |  
|Total current
 assets                                                             |  |                     | 19,816  |                    |   | 31,488  |  
|Long-term investment
 in marketable securities                                    |  |                     | 19,856  |                    |   | 19,656  |  
|Salvage fund                                                                      |  |                     | 1,076   |                    |   | 1,050   |  
|                                                                                 
|Oil and gas
 properties:                                                          |  |                     |         |                    |   |         |  
|Advances to
 operators for working interests and expenditures                     |  |                     |        |                    |   | 1,068   |  
|Unproved
 properties                                                              |  |                     | 1,220   |                    |   | 4,202   |  
|Proved
 properties                                                                |  |                     | 36,440  |                    |   | 20,858  |  
|Less:
 accumulated depletion and amortization                                     |  |                     | (3,107  | )                  |   | (82     | )
|                                                                                  |  |                     |         |                    |   |         |  
|Total oil and
 gas properties                                                     |  |                     | 34,553  |                    |   | 26,046  |  
|                                                                                  |  |                     |         |                    |   |         |  
|                                                                                 
|Total assets                                                                      |  | $                   | 75,301  |                    | $ | 78,240  |  
|                                                                                  |  |                     |         |                    |   |         |  
|LIABILITIES AND MEMBERS CAPITAL                                                  |  |                     |         |                    |   |         |  
|Current
 liabilities:                                                             |  |                     |         |                    |   |         |  
|Due to operators                                                                  |  | $                   | 2,789   |                    | $ | 4,641   |  
|Accrued expenses
 payable                                                         |  |                     | 146     |                    |   | 100     |  
|                                                                                  |  |                     |         |                    |   |         |  
|Total current
 liabilities                                                        |  |                     | 2,935   |                    |   | 4,741   |  
|                                                                                 
|Asset retirement
 obligations                                                     |  |                     | 407     |                    |   | 65      |  
|                                                                                  |  |                     |         |                    |   |         |  
|Total
 liabilities                                                                |  |                     | 3,342   |                    |   | 4,806   |  
|                                                                                  |  |                     |         |                    |   |         |  
|Commitments and
 contingencies (Note 8)                                           |  |                     |         |                    |   |         |  
|Members
 capital:                                                                |  |                     |         |                    |   |         |  
|Manager:                                                                          |  |                     |         |                    |   |         |  
|Distributions                                                                     |  |                     | (1,334  | )                  |   |        |  
|Accumulated
 earnings (deficit)                                                   |  |                     | 440     |                    |   | (1,171  | )
|                                                                                  |  |                     |         |                    |   |         |  
|Managers total                                                                   |  |                     | (894    | )                  |   | (1,171  | )
|                                                                                  |  |                     |         |                    |   |         |  
|Shareholders:                                                                     |  |                     |         |                    |   |         |  
|Capital contributions
 (1,000 shares authorized; 971.6054 issued and outstanding) |  |                     | 144,529 |                    |   | 144,529 |  
|Syndication
 costs                                                                |  |                     | (16,990 | )                  |   | (16,990 | )
|Distributions                                                                     |  |                     | (7,560  | )                  |   |        |  
|Accumulated
 deficit                                                              |  |                     | (47,404 | )                  |   | (52,956 | )
|                                                                                  |  |                     |         |                    |   |         |  
|Shareholders
 total                                                              |  |                     | 72,575  |                    |   | 74,583  |  
|                                                                                  |  |                     |         |                    |   |         |  
|                                                                                 
|Accumulated
 other comprehensive income                                           |  |                     | 278     |                    |   | 22      |  
|                                                                                  |  |                     |         |                    |   |         |  
|                                                                                 
|Total members
 capital                                                           |  |                     | 71,959  |                    |   | 73,434  |  
|                                                                                  |  |                     |         |                    |   |         |  
|                                                                                 
|Total
 liabilities and members capital                                           |  | $                   | 75,301  |                    | $ | 78,240  |  
|                                                                                  |  |                     |         |                    |   |         |  

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

1

---



RIDGEWOOD
ENERGY T FUND, LLCUNAUDITED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) 
(in thousands, except share data)

|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|----------------------------------------- |  | -------------------------------- | ----- | ------------------------------- | - | ------ | - | ---- | ------ |  | - | ------- | -
|                                          |  | Three months ended September 30, |       | Nine months ended September 30, |  
|                                          |  | 2008                             |       | 2007                            |   | 2008   |   | 2007 |       
|                                          |  |                                  |       |                                 |   |        |   |      |       
|Revenue                                   |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Oil and gas
 revenue                      |  | $                                | 3,512 |                                 | $ |       |   | $    | 13,540 |  | $ |        |  
|Expenses                                  |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Depletion and
 amortization               |  |                                  | 1,155 |                                 |   |       |   |      | 3,025  |  |   |        |  
|Dry-hole costs                            |  |                                  | 10    |                                 |   | 889    |   |      | 1,475  |  |   | 10,135  |  
|Management fees to
 affiliates (Note 6)   |  |                                  | 596   |                                 |   | 642    |   |      | 1,801  |  |   | 1,925   |  
|Operating
 expenses                       |  |                                  | 134   |                                 |   | 45     |   |      | 563    |  |   | 45      |  
|General and
 administrative expenses      |  |                                  | 135   |                                 |   | 196    |   |      | 461    |  |   | 779     |  
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Total expenses                            |  |                                  | 2,030 |                                 |   | 1,772  |   |      | 7,325  |  |   | 12,884  |  
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Income (loss)
 from operations            |  |                                  | 1,482 |                                 |   | (1,772 | ) |      | 6,215  |  |   | (12,884 | )
|Other
 income                             |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Interest income                           |  |                                  | 263   |                                 |   | 894    |   |      | 948    |  |   | 2,995   |  
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Net income
 (loss)                        |  |                                  | 1,745 |                                 |   | (878   | ) |      | 7,163  |  |   | (9,889  | )
|Other
 comprehensive income (loss)        |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Unrealized gain
 on marketable securities |  |                                  | 75    |                                 |   |       |   |      | 256    |  |   |        |  
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|                                         
|Total
 comprehensive income (loss)        |  | $                                | 1,820 |                                 | $ | (878   | ) | $    | 7,419  |  | $ | (9,889  | )
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|                                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Manager Interest                          |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Net income (loss)                         |  | $                                | 392   |                                 | $ | (123   | ) | $    | 1,611  |  | $ | (464    | )
|                                         
|Shareholder Interest                      |  |                                  |       |                                 |   |        |   |      |        |  |   |         |  
|Net income
 (loss)                        |  | $                                | 1,353 |                                 | $ | (755   | ) | $    | 5,552  |  | $ | (9,425  | )
|Net income
 (loss) per share              |  | $                                | 1,392 |                                 | $ | (777   | ) | $    | 5,714  |  | $ | (9,700  | )

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

2

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RIDGEWOOD
ENERGY T FUND, LLCUNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)

|                                                                                                     |  |                                  |         |      |   |         |  
|---------------------------------------------------------------------------------------------------- |  | -------------------------------- | ------- | ---- | - | ------- | -
|                                                                                                     |  | Nine months ended
 September 30, |        
|                                                                                                     |  | 2008                             |         | 2007 |  
|                                                                                                     |  |                                  |         |      |  
|                                                                                                    
|Cash
 flows from operating activities                                                                |  |                                  |         |      |   |         |  
|Net income
 (loss)                                                                                   |  | $                                | 7,163   |      | $ | (9,889  | )
|Adjustments to
 reconcile net income (loss) to net cash provided by (used in) operating
 activities: |  |                                  |         |      |   |         |  
|Depletion and
 amortization                                                                          |  |                                  | 3,025   |      |   |        |  
|Dry-hole costs                                                                                       |  |                                  | 1,475   |      |   | 10,135  |  
|Accretion
 expense                                                                                   |  |                                  | 6       |      |   |        |  
|Amortization of
 premium                                                                             |  |                                  | 56      |      |   |        |  
|Interest earned
 on marketable securities                                                            |  |                                  | (300    | )    |   | (1,977  | )
|Changes in
 assets and liabilities:                                                                  |  |                                  |         |      |   |         |  
|Increase in production
 receivable                                                                   |  |                                  | (278    | )    |   |        |  
|(Increase) decrease in
 other current assets                                                         |  |                                  | (166    | )    |   | 64      |  
|Increase in due to operator                                                                          |  |                                  | 85      |      |   |        |  
|Increase in due to
 affiliates                                                                       |  |                                  |        |      |   | 45      |  
|Increase in accrued
 expenses payable                                                                |  |                                  | 46      |      |   | 22      |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Net cash provided by
 (used in) operating activities                                                 |  |                                  | 11,112  |      |   | (1,600  | )
|                                                                                                     |  |                                  |         |      |   |         |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Cash
 flows from investing activities                                                                |  |                                  |         |      |   |         |  
|Payments to
 operators for working interests and expenditures                                        |  |                                  |        |      |   | (1,438  | )
|Capital
 expenditures for oil and gas properties                                                     |  |                                  | (14,460 | )    |   | (51,046 | )
|Proceeds from
 the sale of marketable securities                                                     |  |                                  | 15,230  |      |   | 71,781  |  
|Investment in
 marketable securities                                                                 |  |                                  | (15,230 | )    |   | (44,999 | )
|Interest
 reinvested in salvage fund                                                                 |  |                                  | (26     | )    |   | (36     | )
|                                                                                                     |  |                                  |         |      |   |         |  
|Net cash used in
 investing activities                                                               |  |                                  | (14,486 | )    |   | (25,738 | )
|                                                                                                     |  |                                  |         |      |   |         |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Cash
 flows from financing activities                                                                |  |                                  |         |      |   |         |  
|Contributions
 from shareholders                                                                     |  |                                  |        |      |   | 48      |  
|Syndication
 costs paid                                                                              |  |                                  |        |      |   | (59     | )
|Distributions                                                                                        |  |                                  | (8,894  | )    |   |        |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Net cash used in
 financing activities                                                               |  |                                  | (8,894  | )    |   | (11     | )
|                                                                                                     |  |                                  |         |      |   |         |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Net decrease in cash
 and cash equivalents                                                           |  |                                  | (12,268 | )    |   | (27,349 | )
|Cash and cash
 equivalents, beginning of period                                                      |  |                                  | 15,696  |      |   | 63,416  |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Cash and cash
 equivalents, end of period                                                            |  | $                                | 3,428   |      | $ | 36,067  |  
|                                                                                                     |  |                                  |         |      |   |         |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Supplemental
 schedule of non-cash investing activities                                              |  |                                  |         |      |   |         |  
|                                                                                                     |  |                                  |         |      |   |         |  
|Advances used for
 capital expenditures in oil and gas properties reclassified to proved
 properties |  | $                                | 1,068   |      | $ |        |  
|                                                                                                     |  |                                  |         |      |   |         |  

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

3

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RIDGEWOOD ENERGY T FUND, LLCNOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

1. Organization and Purpose

The Ridgewood Energy T Fund, LLC (the Fund), a Delaware limited
liability company, was formed on April 12, 2006 and operates pursuant to a
limited liability company agreement (the LLC Agreement) dated as of June 15,
2006 by and among Ridgewood Energy Corporation (the Manager), and the
shareholders of the Fund.

The Fund was organized to acquire interests in oil and gas properties
located in the United States offshore waters of Texas, Louisiana and Alabama in
the Gulf of Mexico. During 2007, the Fund began earning revenue and was
determined by the Manager to no longer be an exploratory stage enterprise.

The Manager performs, or arranges for the performance of, the
management and administrative services required for Fund operations. Such
services include, without limitation, the administration of shareholder
accounts, shareholder relations and the preparation, review and dissemination
of tax and other financial information. In addition, the Manager provides
office space, equipment and facilities and other services necessary for Fund
operations. The Manager also engages and manages the contractual relations with
outside custodians, depositories, accountants, attorneys, broker-dealers,
corporate fiduciaries, insurers, banks and others as required. See Notes 2, 6
and 8.

2. Summary of Significant Accounting Policies

Basis of
Presentation

These unaudited interim condensed financial statements have been
prepared by the Funds management in accordance with accounting principles
generally accepted in the United States of America (GAAP) and in the opinion
of management, contain all adjustments (consisting of only normal recurring
adjustments) necessary to present fairly the Funds financial position, results
of operations and cash flows for the periods presented. Certain information and
note disclosures normally included in annual financial statements prepared in
accordance with GAAP have been omitted in these unaudited interim condensed
financial statements. The results of operations, financial position, and cash
flows for the periods presented herein are not necessarily indicative of future
financial results. These unaudited interim condensed financial statements
should be read in conjunction with the annual financial statements and the
notes thereto for the year ended December 31, 2007 included in the Funds
Annual Report on Form 10-K (Form 10-K) filed with the Securities and Exchange
Commission (the SEC). The year-end condensed balance sheet data was derived
from audited financial statements, but does not include all disclosures
required by GAAP.

Use of Estimates

The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities as of the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. On an ongoing basis, the
Manager reviews its estimates, including those related to amounts advanced to
and billed by operators, determination of proved reserves, impairments and
asset retirement obligations. Actual results may differ from those estimates.

Cash and Cash
Equivalents

All highly liquid investments with maturities when purchased of three
months or less are considered cash and cash equivalents. At times, bank
deposits may be in excess of federal insured limits. At September 30, 2008 and
December 31, 2007, bank balances, inclusive of the salvage fund, exceeded
federally insured limits by $3.3 million and $13.5 million, respectively. At
September 30, 2008, $1.1 million of the Funds uninsured balances were invested
in money market accounts that invest solely in U.S. Treasury bills and notes.
The Fund maintains bank deposits with accredited financial institutions.
Effective October 3, 2008 through December 31, 2009, federally insured limits
have been increased from $0.1 million to $0.25 million.

4

---



Investments in
Marketable Securities

At times the Fund may invest in U.S. Treasury bills and notes. These
investments are considered short-term when their maturities are greater than
three months and one year or less, and long-term when their maturities are in
excess of twelve months. The Fund currently has short-term investments that are
classified as held-to-maturity. Held-to-maturity securities are those
investments that the Fund has the ability and intent to hold until maturity,
and are recorded at cost plus accrued income, adjusted for the amortization of
premiums and discounts, which approximates fair value. At September 30, 2008
and December 31, 2007, the Fund had held-to-maturity investments totaling $15.3
million and $15.0 million, respectively. The held-to-maturity investments held
at September 30, 2008 mature in December 2008.

The Fund currently has long-term investments, which mature in December
2009, that are classified as available-for-sale. Available-for-sale securities
are carried in the financial statements at fair value. The following table is a
summary of long-term, available-for-sale investments at September 30, 2008 and
December 31, 2007:

|                   |  |                 |        |                          |   |             |  |   |        | 
|------------------ |  | --------------- | ------ | ------------------------ | - | ----------- |  | - | ------ | 
|                   |  | Amortized
 Cost |        | Gross
 Unrealized
 Gains |   | Fair
 Value | 
|                   |  |                 |        |                          |   |             | 
|                   |  | (in thousands)  |       
|Available-for-Sale |  |                 |        |                          |   |             |  |   |        | 
|U.S Treasury notes |  |                 |        |                          |   |             |  |   |        | 
|September 30, 2008 |  | $               | 19,578 |                          | $ | 278         |  | $ | 19,856 | 
|                   |  |                 |        |                          |   |             |  |   |        | 
|                   |  |                 |        |                          |   |             |  |   |        | 
|December 31, 2007  |  | $               | 19,634 |                          | $ | 22          |  | $ | 19,656 | 
|                   |  |                 |        |                          |   |             |  |   |        | 

For all investments, interest income is accrued as earned and
amortization of premium or discount, if any, is included in interest income.
Unrealized gains or losses for available-for-sale securities are reported in
other comprehensive income until realized.

Salvage Fund

The Fund deposits in a separate interest-bearing account, or a salvage
fund, money to provide for dismantling production platforms and facilities,
plugging and abandoning the wells and removing the platforms, facilities and
wells after their useful lives, in accordance with applicable federal and state
laws and regulations. At September 30, 2008, the Fund had held-to-maturity
investments within its salvage fund totaling $1.1 million. The held-to-maturity
investments held within the salvage fund at September 30, 2008 mature in
December 2012.

Interest earned on the account will become part of the salvage fund.
There are no legal restrictions on withdrawals from the salvage fund.

Oil and Gas
Properties

Investments in oil and gas properties are operated by unaffiliated
entities (Operators) who are responsible for drilling, administering and
producing activities pursuant to the terms of the applicable operating
agreements with working interest owners. The Funds portion of exploration,
drilling, operating and capital equipment expenditures relating to the wells
are advanced and billed by Operators through authorization for expenditures.

The successful efforts method of accounting for oil and gas producing
activities is followed. Acquisition costs are capitalized when incurred. Other
oil and gas exploration costs, excluding the costs of drilling exploratory
wells, are charged to expense as incurred. The costs of drilling exploratory
wells are capitalized pending the determination of whether the wells have
discovered proved commercial reserves. If proved commercial reserves have not
been found, exploratory drilling costs are expensed to dry-hole expense. Costs
to develop proved reserves, including the costs of all development wells and
related facilities and equipment used in the production of crude oil and gas,
are capitalized. Expenditures for ongoing repairs and maintenance of producing
properties are expensed as incurred.

Upon the sale or retirement of a proved property, the cost and related
accumulated depletion and amortization will be eliminated from the property
accounts, and the resultant gain or loss is recognized. Upon the sale or
retirement of an unproved property, gain or loss on the sale is recognized. The
Manager does not currently intend to sell any of the Funds property interests.

Capitalized acquisition costs of producing oil and gas properties are
depleted by the unit-of-production method.

At September 30, 2008, amounts recorded in due to operators totaling
$2.7 million related to capital expenditures for oil and gas property. These
amounts were principally paid during the fourth quarter of 2008.

5

---



Advances to
Operators for Working Interests and Expenditures

The Funds acquisition of a working interest in a well or a project may
require it to make a payment to the seller for the Funds rights, title and
interest. The Fund may be required to advance its share of estimated cash
expenditures for the succeeding months operation. The Fund accounts for such
payments as advances to operators for working interests and expenditures. As drilling
costs are incurred, the advances are transferred to unproved properties.

Asset Retirement
Obligations

For oil and gas properties, there are obligations to perform removal
and remediation activities when the properties are retired. When a project reaches
drilling depth and is determined to be either proved or dry, an asset
retirement obligation is incurred. Plug and abandonment costs associated with
unsuccessful projects are expensed as dry-hole costs. The table below presents
changes in asset retirement obligations for the nine months ended September 30,
2008 and the year ended December 31, 2007.

|                              |  |                    |     |                   |   |    | 
|----------------------------- |  | ------------------ | --- | ----------------- | - | -- | 
|                              |  | September 30, 2008 |     | December 31, 2007 |  
|                              |  |                    |     |                   |  
|                              |  | (in
thousands)     |    
|Balance - Beginning of period |  | $                  | 65  |                   | $ |   | 
|Liabilities incurred          |  |                    | 336 |                   |   | 65 | 
|Liabilities settled           |  |                    |    |                   |   |   | 
|Accretion expense             |  |                    | 6   |                   |   |   | 
|                              |  |                    |     |                   |   |    | 
|Balance - End of period       |  | $                  | 407 |                   | $ | 65 | 
|                              |  |                    |     |                   |   |    | 

As indicated above, the Fund maintains a salvage fund to provide for
the funding of future asset retirement obligations.

Syndication Costs

Syndication costs are direct costs associated with offering the Funds
shares including professional fees, selling expenses and administrative costs
payable to the Manager, an affiliate of the Manager and unaffiliated
broker-dealers, which are reflected on the Funds financial statements as a
reduction of shareholders capital.

Revenue Recognition
and Imbalances

Oil and gas revenues are recognized when production is sold to a
purchaser at a fixed or determinable price, when delivery has occurred and
title has transferred, and if collectibility of the revenue is probable

The Fund uses the sales method of accounting for gas production
imbalances. The volumes of gas sold may differ from the volumes to which the
Fund is entitled based on its interests in the properties. These differences
create imbalances that are recognized as a liability only when the properties
estimated remaining reserves net to the Fund will not be sufficient to enable
the underproduced owner to recoup its entitled share through production. The
Funds recorded liability, if any, would be reflected in other non-current
liabilities. No receivables are recorded for those wells where the Fund has
taken less than its share of production. Gas imbalances are reflected as
adjustments to estimates of proved gas reserves and future cash flows.

Impairment of
Long-Lived Assets

In accordance with the provisions of the Statement of Financial
Accounting Standards (SFAS) No. 144, Accounting for the Impairment of
Long-Lived Assets, long-lived assets, such as oil and gas properties, are
evaluated when events or changes in circumstances indicate the carrying value
of such assets may not be recoverable. The determination of whether impairment
has occurred is made by comparing the carrying values of long-lived assets to
the estimated future undiscounted cash flows attributable to the asset. The
impairment loss recognized is the excess of the carrying value over the future
discounted cash flows attributable to the asset or the estimated fair value of
the asset. During the three and nine months ended September 30, 2008 and 2007,
no impairments were recorded.

Depletion and
Amortization

Depletion and amortization of the cost of proved oil and gas properties
are calculated using the units-of-production method. Proved developed reserves
are used as the base for depleting the cost of successful exploratory drilling
and development costs. The sum of proved developed and proved undeveloped
reserves is used as the base for depleting, or amortizing, leasehold
acquisition costs, the costs to acquire proved properties and platform and
pipeline costs.

6

---



Income Taxes

No provision is made for income taxes in the financial statements. The
Fund is a limited liability company, and as such, the Funds income or loss is
passed through and included in the tax returns of the Funds shareholders.

Income and Expense
Allocation

Profits and losses are allocated 85% to shareholders in proportion to
their relative capital contributions and 15% to the Manager, except for interest
income and certain expenses such as dry-hole costs, fiduciary fees, depletion
and amortization, which are allocated 99% to shareholders and 1% to the
Manager.

3. Recent Accounting Standards

In May 2008, the Financial Accounting Standards Board (FASB) issued
SFAS No. 162, The Hierarchy of Generally Accepted Accounting Principles,
(SFAS No.162), which identifies the sources of accounting principles and the
framework for selecting the principles used in the preparation of financial
statements that are presented in conformity with GAAP. SFAS No. 162 will be
effective sixty days following the Securities and Exchange Commissions
approval of the Public Company Accounting Oversight Board amendments to AU
Section 411. The Fund does not expect the adoption of SFAS No. 162 will have a
material impact on its financial condition or results of operation.

In September 2006, the FASB issued SFAS No. 157, Fair Value
Measurements, (SFAS No.157), which applies under most other accounting
pronouncements that require or permit fair value measurements. SFAS No. 157
provides a common definition of fair value as the price that would be received
to sell an asset or paid to transfer a liability in a transaction between
market participants. The new standard also provides guidance on the methods
used to measure fair value and requires expanded disclosures related to fair
value measurements. SFAS No. 157 had originally been effective for financial
statements issued for fiscal years beginning after November 15, 2007, however
the FASB has agreed on a one year deferral for all non-financial assets and
liabilities. On January 1, 2008, the Fund adopted SFAS No. 157 for financial
assets and liabilities. See Note 7 for related disclosure.

4. Unproved Properties - Capitalized
Exploratory Well Costs

Leasehold acquisition and exploratory drilling costs are capitalized
pending determination of whether the well has found proved reserves. Unproved
properties are assessed on a quarterly basis by evaluating and monitoring if
sufficient progress is made on assessing the reserves.

The following table reflects the net changes in unproved properties for
the nine months ended September 30, 2008 and the year ended December 31, 2007.
As of September 30, 2008, the Fund had no capitalized exploratory well costs
greater than one year.

|                                                                                              |  |                    |         |                   |   |         |  
|--------------------------------------------------------------------------------------------- |  | ------------------ | ------- | ----------------- | - | ------- | -
|                                                                                              |  | September 30, 2008 |         | December 31, 2007 |  
|                                                                                              |  |                    |         |                   |  
|                                                                                              |  | (in thousands)     |        
|Balance - Beginning of the period                                                             |  | $                  | 4,202   |                   | $ |        |  
|Additions to capitalized exploratory well costs pending the
 determination of proved reserves |  |                    | 10,396  |                   |   | 25,060  |  
|Reclassifications to proved properties based on the determination of
 proved reserves         |  |                    | (12,828 | )                 |   | (20,858 | )
|Capitalized exploratory well costs charged to dry-hole
costs                                  |  |                    | (550    | )                 |   |        |  
|                                                                                              |  |                    |         |                   |   |         |  
|                                                                                             
|Balance - End of the period                                                                   |  | $                  | 1,220   |                   | $ | 4,202   |  
|                                                                                              |  |                    |         |                   |   |         |  

7

---



Capitalized exploratory well costs are expensed as dry-hole costs in
the event that reserves are not found or are not in sufficient quantities to
complete the well and develop the field. During the three and nine months ended
September 30, 2007, certain wells received credits from their respective
operators upon review and audit of the wells costs. Dry-hole costs are
detailed in the table below.

|                                       |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 
|-------------------------------------- |  | -------------------------------- | -- | ------------------------------- | - | ---- | - | ---- | ----- |  | - | ------ | 
|                                       |  | Three months ended September 30, |    | Nine months ended September 30, |  
|Lease
 Block                           |  | 2008                             |    | 2007                            |   | 2008 |   | 2007 |      
|                                       |  |                                  |    |                                 |   |      |   |      |      
|                                       |  | (in thousands)                   |   
|                                       |  |                                  |    |                                 |   |      |   |      |      
|West Cameron 109                       |  | $                                |   |                                 | $ | (16  | ) | $    | 599   |  | $ | 58     | 
|Eugene Island 346/347 Sapphire well #3 |  |                                  |   |                                 |   |     |   |      | 550   |  |   |       | 
|Mississippi Canyon 489/490             |  |                                  | 9  |                                 |   |     |   |      | 325   |  |   |       | 
|Green Canyon 246                       |  |                                  | 1  |                                 |   | (18  | ) |      | 1     |  |   | 9,154  | 
|West Cameron 296                       |  |                                  |   |                                 |   | 923  |   |      |      |  |   | 923    | 
|                                       |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 
|                                       |  | $                                | 10 |                                 | $ | 889  |   | $    | 1,475 |  | $ | 10,135 | 
|                                       |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 

5. Distributions

Distributions to shareholders are allocated in proportion to the number
of shares held.

The Manager will determine whether available cash from operations, as
defined in the Funds LLC Agreement, is to be distributed. Such distributions
will be allocated 85% to the shareholders and 15% to the Manager, as required
by the Funds LLC Agreement.

Available cash from dispositions, as defined in the Funds LLC
Agreement, will be paid 99% to shareholders and 1% to the Manager until the
shareholders have received total distributions equal to their capital
contributions. After shareholders have received distributions equal to their
capital contributions, 85% of available cash from dispositions will be
distributed to shareholders and 15% to the Manager.

The Fund began making distributions in March 2008. During the nine
months ended September 30, 2008, Manager and shareholder distributions totaled
$1.3 million and $7.6 million, respectively.

6. Related Parties

The Funds LLC Agreement provides that the Manager render management,
administrative and advisory services. For such services, the Manager receives
an annual management fee, payable monthly, of 2.5% of total capital
contributions, net of cumulative dry-hole and related well costs incurred by
the Fund. Management fees were $0.6 million
for each of the three months ended September 30, 2008 and 2007. Management fees
were $1.8 million and $1.9 million for the nine months ended September 30, 2008
and 2007, respectively.

From time to time, short-term payables and receivables, which do not
bear interest, arise from transactions with affiliates in the ordinary course
of business. At September 30, 2008 and December 31, 2007, there were no such
amounts outstanding.

None of the compensation paid to the Manager has been derived as a
result of arms length negotiations.

The Fund has working interest ownership in certain projects to acquire
and develop oil and gas projects with other entities that are likewise managed
by the Manager.

7. Fair Value of Financial Instruments and
Measurements

At September 30, 2008 and December 31, 2007, the carrying value of cash
and cash equivalents, short-term investments in marketable securities, salvage
fund, production receivable and accrued expenses approximate fair value.

In accordance with SFAS No. 157, the Funds available-for-sale investments
are measured utilizing Level 1 inputs, which include quoted prices in active
markets.

8

---



8. Commitments and Contingencies

Capital Commitments

The Fund has entered into multiple offshore operating
agreements for the drilling and development of its investment properties. The estimated
capital expenditures associated with these
agreements vary depending on the stage of development on a property-by-property
basis. As of September 30, 2008, the Fund had committed to spend an additional
$7.8 million related to its investment properties.

Environmental
Considerations

The exploration for and development of oil and gas involves the
extraction, production and transportation of materials which, under certain
conditions, can be hazardous or cause environmental pollution problems. The
Operators are continually taking action they believe appropriate to satisfy
applicable federal, state and local environmental regulations and do not
currently anticipate that compliance with federal, state and local
environmental regulations will have a material adverse effect upon capital
expenditures, results of operations or the competitive position of the Fund in
the oil and gas industry. However, due to the significant public and
governmental interest in environmental matters related to those activities, the
Manager cannot predict the effects of possible future legislation, rule
changes, or governmental or private claims. At September 30, 2008 and December
31, 2007, there were no known environmental contingencies that required the
Fund to record a liability.

Insurance Coverage

The Fund is subject to all risks inherent in the exploration for and
development of oil and gas. Insurance coverage as is customary for entities
engaged in similar operations is maintained, but losses may occur from
uninsurable risks or amounts in excess of existing insurance coverage. The
occurrence of an event which is not insured or not fully insured could have an
adverse impact upon earnings and financial position. Moreover, insurance is
obtained as a package covering all of the Managers investment programs. Claims
made by other such programs can reduce or eliminate insurance for the Fund.

Suspension of MMS
Royalty Relief

Under Mineral Management Services (MMS) rules, the Fund is eligible
for annual royalty relief provided that the average New York Mercantile
Exchange (NYMEX) sales price for shallow water, deep gas (Average NYMEX
Price) does not exceed price thresholds established by the MMS, which will be
published during the first quarter of 2009. The Average NYMEX Price during the
nine months ended September 30, 2008 was $9.73. Based upon current estimations
of the 2008 price threshold by the MMS, in the event the Average NYMEX Price
exceeds $12.15 for the fourth quarter of 2008, royalty relief would be suspended
and the Fund would be obligated to pay its previously relieved MMS royalties.
In addition, the Funds future reserve estimates report for gas would be
reduced by 16.67%. The reduction in revenues resulting from an obligation to
pay these royalties and subsequent reduction of proved reserves could have a
material adverse effect on the Funds results of operations. If the Average
NYMEX Price is below the threshold established by the MMS, the Fund would not
have an obligation to pay royalties for those properties which qualify for
royalty relief and the reserve balances would not be reduced. With regard to
the shallow water, deep gas properties, there was no reduction in reserves for
potential future royalties as of December 31, 2007 as a result of the average
2007 NYMEX price for gas being below the price threshold.

The Funds gas revenues for the nine months ended September 30, 2008
would be reduced by $2.0 million if the 2008 annual Average NYMEX Price
ultimately exceeds the price threshold established by the MMS. At September 30,
2008, the Fund has not recorded a liability associated with this contingency.

ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Cautionary Statement Regarding
Forward-Looking Statements

Certain statements in this quarterly report on Form 10-Q (Quarterly
Report) and the documents Ridgewood Energy T Fund, LLC (the Fund) has
incorporated by reference into this Quarterly Report, other than purely
historical information, including estimates, projections, statements relating
to the Funds business plans, strategies, objectives and expected operating
results, and the assumptions upon which those statements are based, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended (the Securities Act) and Section 21E of the Securities Exchange Act
of 1934 (the Exchange Act). These forward-looking statements generally are
identified by the words believe, project, expect, anticipate,
estimate, intend, strategy, plan, target, pursue,
may, will,
would, will be, will continue, will likely result, and similar expressions.
Forward-looking statements are based on current expectations and assumptions
that are subject to risks and uncertainties which may cause actual results to
differ materially from the forward-looking statements. Examples of such events
that could cause actual results to differ materially from historical results or
those anticipated include weather conditions, such as hurricanes, changes in
market conditions affecting the pricing of oil and gas, the cost and
availability of equipment, and changes in governmental regulations. The Fund
undertakes no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.

9

---



Critical Accounting Policies and Estimates

The following discussion and analysis of the Funds financial condition
and operating results is based on its financial statements. The preparation of
this Quarterly Report requires the Fund to make estimates and assumptions that
affect the reported amount of assets and liabilities, disclosure of contingent
assets and liabilities at the date of the Funds financial statements, and the
reported amount of revenue and expenses during the reporting period. Actual
results may differ from those estimates and assumptions. See Notes to
Unaudited Condensed Financial Statements in Part I of this Quarterly Report on
Form 10-Q for a presentation of the Funds significant accounting policies. No
changes have been made to the Funds critical accounting policies and estimates
disclosed in its 2007 Annual Report on Form 10-K.

Overview of the Funds Business

The Fund is a Delaware limited liability company formed on April 12,
2006 to acquire interests primarily in oil and gas projects located in the U.S.
waters of the Gulf of Mexico. Ridgewood Energy Corporation (Ridgewood Energy or
the Manager) a Delaware corporation, is the Manager. As the Manager,
Ridgewood Energy has direct and exclusive control over the management and
control of Fund operations. The Funds primary investment objective is to
generate cash flow for distribution to the Funds shareholders through
participation in oil and gas exploration and development projects in the Gulf
of Mexico.

The Manager performs certain duties on the Funds behalf including the
evaluation of potential projects for investment and ongoing management,
administrative and advisory services associated with these projects. For these
services, the Manager receives an annual management fee equal to 2.5% of
capital contributions, net of cumulative dry-hole and related well costs
incurred by the Fund, payable monthly. The Fund does not currently, nor is
there any plan to operate any project in which the Fund participates. The
Manager enters into operating agreements with third-party operators
(Operators) for the management of all exploration, development and producing
operations, as appropriate. The Manager also participates in distributions.

Business Update

The Fund owns working interests and has participated in the drilling of
ten wells, five of which have been determined to be dry holes, four that have
been determined to be successful and one that is currently drilling.

Recent hurricane activity in the Gulf of Mexico has not caused material
damage to any of the Funds wells or facilities. However, damage to certain
pipelines, coastal refineries and gas processing plants have caused certain
wells to be shut-down for several weeks or months. Accordingly, several of the
Funds producing properties generated little or no revenue during the month of
September and certain of the Funds properties will be offline for an
additional period of weeks or months. The reserves associated with these
properties remain intact and the value of the properties is recoverable,
however, the delay in production and revenue will result in the delay in the
payment of distributions related to certain properties.

Currently Drilling

Eos Project

In August 2008, the Fund acquired a 3.0% interest in the Eos Project,
an exploratory well, which is operated by Mariner Energy, Inc. (Mariner).
Drilling commenced on this project in August 2008 and was temporarily suspended
due to hurricane activity. Drilling resumed in late-September 2008 and results
are expected in December 2008. Through September 30, 2008, the Fund has spent
$1.2 million on this well, for which the total estimated budget is $8.6
million.

10

---



Successful Projects

West Cameron 75

In March 2007, the Fund acquired a 20% working interest in the
exploratory project West Cameron 75 from El Paso E&P Company, LLP (El
Paso), the operator. In June 2007, El Paso notified the Fund that the property
was determined to be a commercial discovery. The well was completed and
production commenced in mid-December 2007. The Fund has spent $22.7 million
related to this property.

West Cameron 76 Well
#12

In April 2007, the Fund acquired an 11.24% working interest in the West
Cameron 76 well #12 project from BHP Billiton Petroleum (Americas) Inc.
(BHP), the operator. The project began drilling in February 2008. In April
2008, BHP notified the Fund that the property was determined to be a commercial
discovery. The well was completed and production commenced in May 2008. An
upper zone re-completion is currently expected to be completed in December 2008
at an approximate cost of $0.4 million. The Fund has spent $4.7 million related
to this property, for which the total estimated budget is $5.1 million.

Eugene Island
346/347

Well #1

In March 2007, the Fund acquired a 10.0% working interest in the
exploratory project Eugene Island 346/347 from Newfield Exploration Company
(Newfield), the operator. In June 2007, the well was deemed successful. In
August 2007, Newfield sold its interest in this property to McMoRan Exploration
Co. (McMoRan). At that time, McMoRan assumed Newfields responsibilities as
the operator of this property. The well was completed and production commenced
in June 2008. The Fund has spent $7.1 million related to this property.

Well #2

As a result of the drilling success of the first exploratory well for
Eugene Island 346/347, the second and third wells commenced drilling in May
2008. In late-May 2008, Eugene Island 346/347 well #2 was determined to be
commercially successful and production commenced in July 2008. The Fund has
spent $1.5 million related to this property. In June 2008, Eugene Island 346/347
well #3 was determined to be a dry hole.  See additional discussion below in Dry Holes.

As indicated above in the business update, none of the Funds wells,
including West Cameron 75 and Eugene Island 346/347 wells #1 and #2, were
materially damaged as a result of recent hurricane activity in the Gulf of
Mexico. However, the pipelines utilized to transport these wells oil and gas
production have suffered severe damage thereby shutting down production for
these wells. As a result, these wells have been shut-in until the pipeline
repairs are completed by the respective pipeline owners. There is no cost to
the Fund related to these repair activities, however, these wells have not
produced oil and gas or earned revenue during this period. The West Cameron 75
well is expected to resume production in November 2008. The Eugene Island
properties are currently expected to resume production during the second
quarter 2009.

Dry Holes

Eugene Island
346/347

Well #3

In June 2008, the Fund was informed by McMoRan that Eugene Island
346/347 well #3 did not have commercially productive quantities of either gas
or oil and had been determined to be an unsuccessful well, or dry hole.
Dry-hole costs related to this well, all of which were expensed during the nine
months ended September 30, 2008 were $0.6 million.

Mississippi Canyon
489/490

In the third quarter 2007, the Fund acquired an 8.33% working interest
in the exploratory project Mississippi Canyon 489/490 from LLOG Exploration
Offshore, Inc. (LLOG), the operator. Drilling began in September 2007, and in
November 2007 the operator informed the Fund that Mississippi Canyon 489/490
did not have commercially productive quantities of either oil or gas and had
been determined to be an unsuccessful well, or dry hole. Dry-hole costs related
to this well, including plug and abandonment expenses, were $3.6 million, of
which $0.3 million were incurred during the nine months ended September 30,
2008.

11

---



Results of Operations

The following review of operations for the three and nine months ended
September 30, 2008 and 2007 should be read in conjunction with the Funds
financial statements and the notes thereto.

|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|---------------------------------------- |  | --------------------------------- | ----- | -------------------------------- | - | ------ | - | ---- | ------ |  | - | ------- | -
|                                         |  | Three months ended
 September 30, |       | Nine months ended
 September 30, |  
|                                         |  | 2008                              |       | 2007                             |   | 2008   |   | 2007 |       
|                                         |  |                                   |       |                                  |   |        |   |      |       
|                                         |  | (in thousands)                    |      
|Revenue                                  |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Oil and gas revenue                      |  | $                                 | 3,512 |                                  | $ |       |   | $    | 13,540 |  | $ |        |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Expenses                                 |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Depletion and amortization               |  |                                   | 1,155 |                                  |   |       |   |      | 3,025  |  |   |        |  
|Dry-hole costs                           |  |                                   | 10    |                                  |   | 889    |   |      | 1,475  |  |   | 10,135  |  
|Management fees to affiliate (Note 6)    |  |                                   | 596   |                                  |   | 642    |   |      | 1,801  |  |   | 1,925   |  
|Operating expenses                       |  |                                   | 134   |                                  |   | 45     |   |      | 563    |  |   | 45      |  
|General and administrative expenses      |  |                                   | 135   |                                  |   | 196    |   |      | 461    |  |   | 779     |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Total expenses                           |  |                                   | 2,030 |                                  |   | 1,772  |   |      | 7,325  |  |   | 12,884  |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Income (loss) from operations            |  |                                   | 1,482 |                                  |   | (1,772 | ) |      | 6,215  |  |   | (12,884 | )
|Other income                             |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Interest income                          |  |                                   | 263   |                                  |   | 894    |   |      | 948    |  |   | 2,995   |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Net income (loss)                        |  |                                   | 1,745 |                                  |   | (878   | ) |      | 7,163  |  |   | (9,889  | )
|Other comprehensive income (loss)        |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Unrealized gain on marketable securities |  |                                   | 75    |                                  |   |       |   |      | 256    |  |   |        |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  
|Total comprehensive income (loss)        |  | $                                 | 1,820 |                                  | $ | (878   | ) | $    | 7,419  |  | $ | (9,889  | )
|                                         |  |                                   |       |                                  |   |        |   |      |        |  |   |         |  

As previously discussed in the Business Update, hurricane activity in
the third quarter of 2008 did not cause material damage to any of the Funds
wells or facilities, however, damage to certain pipelines, coastal refineries
and gas processing plants have caused certain wells to be shut-down for several
weeks or months. Accordingly, revenues and depletion and amortization were
affected in September 2008 and will continue to be affected during these periods
of shut-down.

Oil and Gas Revenue.Since inception, the Fund has had four wells come onto production: West
Cameron 75 in December 2007, West Cameron 76 well #12 in May 2008, Eugene
Island 346/347 well #1 in June 2008 and Eugene Island 346/347 well #2 in July
2008. Prior to December 2007, the Fund had no operating revenue and was
considered an exploratory stage enterprise. Oil and gas revenue for the three
and nine months ended September 30, 2008 was $3.5 million and $13.5 million,
respectively.

During the three and nine months ended September 30, 2008, the Funds
wells produced and sold 4 thousand barrels and 7 thousand barrels of oil, respectively.
During the three and nine months ended September 30, 2008, the Funds wells
produced and sold 257 thousand mcf and 1,272 thousand mcf of gas, respectively.

The Funds oil prices averaged $120 per barrel and
 $122 per barrel during the three and nine months ended September
30, 2008, respectively. The Funds gas prices averaged $11 per
mcf and $10 per mcf, during the three and nine months ended
September 30, 2008, respectively.

Depletion and
Amortization. For the three and nine months ended
September 30, 2008, depletion and amortization was $1.2 million and $3.0 million,
respectively. Prior to December 2007, the Fund did not have production and
therefore did not record depletion or amortization. West Cameron 75, West
Cameron 76 well #12, Eugene Island 346/347 well #1 and Eugene Island 345/347
well #2 began production in December 2007, May 2008, June 2008 and July 2008,
respectively.

12

---



Dry-hole Costs.Dry-hole costs are those costs incurred to drill and develop a well that is
ultimately found to be incapable of producing either oil or gas in sufficient
quantities to justify completion of the well. The following table summarizes
dry-hole costs inclusive of plug and abandonment costs. During the three and
nine months ended September 30, 2007, certain wells received credits from their
respective operators upon review and audit of the wells costs. Dry-hole costs
are detailed in the table below.

|                                        |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 
|--------------------------------------- |  | -------------------------------- | -- | ------------------------------- | - | ---- | - | ---- | ----- |  | - | ------ | 
|                                        |  | Three months ended September 30, |    | Nine months ended September 30, |  
|Lease
 Block                            |  | 2008                             |    | 2007                            |   | 2008 |   | 2007 |      
|                                        |  |                                  |    |                                 |   |      |   |      |      
|                                        |  | (in thousands)                   |   
|West Cameron 109                        |  | $                                |   |                                 | $ | (16  | ) | $    | 599   |  | $ | 58     | 
|Eugene Island 346/347
 Sapphire well #3 |  |                                  |   |                                 |   |     |   |      | 550   |  |   |       | 
|Mississippi Canyon 489/490              |  |                                  | 9  |                                 |   |     |   |      | 325   |  |   |       | 
|Green Canyon 246                        |  |                                  | 1  |                                 |   | (18  | ) |      | 1     |  |   | 9,154  | 
|West Cameron 296                        |  |                                  |   |                                 |   | 923  |   |      |      |  |   | 923    | 
|                                        |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 
|                                        |  | $                                | 10 |                                 | $ | 889  |   | $    | 1,475 |  | $ | 10,135 | 
|                                        |  |                                  |    |                                 |   |      |   |      |       |  |   |        | 

Management Fees to Affiliates.For
each of the three months ended September 30, 2008 and 2007, the Fund incurred
management fees of $0.6 million, representing 2.5% of total capital
contributions, net of cumulative dry-hole and related well costs incurred by
the Fund. The Fund incurred management fees of $1.8 million and $1.9 million
for the nine months ended September 30, 2008 and 2007, respectively. The
management fee, payable monthly to the Manager, is for expenses associated with
overhead incurred by the Manager for its ongoing management, administrative and
advisory services. Such overhead expenses include but are not limited to rent,
payroll and benefits for employees of the Manager, and other administrative
costs.

Operating Expenses.Operating
expenses represent the costs of operating and maintaining wells and related
facilities, geological costs and accretion expense, as detailed in the schedule
below.

|                         |  |                                  |     |                                 |   |      |  |      |     |  |   |    | 
|------------------------ |  | -------------------------------- | --- | ------------------------------- | - | ---- |  | ---- | --- |  | - | -- | 
|                         |  | Three months ended September 30, |     | Nine months ended September 30, |  
|                         |  | 2008                             |     | 2007                            |   | 2008 |  | 2007 |    
|                         |  |                                  |     |                                 |   |      |  |      |    
|                         |  | (in thousands)                   |    
|Lease operating expenses |  | $                                | 122 |                                 | $ |     |  | $    | 346 |  | $ |   | 
|Geological costs         |  |                                  | 8   |                                 |   | 45   |  |      | 211 |  |   | 45 | 
|Accretion                |  |                                  | 4   |                                 |   |     |  |      | 6   |  |   |   | 
|                         |  |                                  |     |                                 |   |      |  |      |     |  |   |    | 
|                         |  | $                                | 134 |                                 | $ | 45   |  | $    | 563 |  | $ | 45 | 
|                         |  |                                  |     |                                 |   |      |  |      |     |  |   |    | 

Lease operating expenses for the three months and nine months ended
September 30, 2008 were primarily related to the onset of production of West
Cameron 75 and Eugene Island 346/347 well #1 and #2. Geological costs for the
three and nine months ended September 30, 2008 related primarily to geological
surveys for West Cameron 76 well #12 and the EOS Project. Geological cost for
the three and nine months ended September 30, 2007 related to geological
surveys for Mississippi Canyon 490 and Eugene Island 346/347.

General and
Administrative Expenses.General and
administrative expenses represent costs specifically identifiable or allocable
to the Fund, as detailed in the schedule below.

|                     |  |                                  |     |                                 |   |      |  |      |     |  |   |     | 
|-------------------- |  | -------------------------------- | --- | ------------------------------- | - | ---- |  | ---- | --- |  | - | --- | 
|                     |  | Three months ended September 30, |     | Nine months ended September 30, |  
|                     |  | 2008                             |     | 2007                            |   | 2008 |  | 2007 |    
|                     |  |                                  |     |                                 |   |      |  |      |    
|                     |  | (in thousands)                   |    
|Accounting fees      |  | $                                | 61  |                                 | $ | 43   |  | $    | 213 |  | $ | 132 | 
|Insurance            |  |                                  | 56  |                                 |   | 130  |  |      | 188 |  |   | 548 | 
|Trust fees and other |  |                                  | 18  |                                 |   | 23   |  |      | 60  |  |   | 99  | 
|                     |  |                                  |     |                                 |   |      |  |      |     |  |   |     | 
|                     |  | $                                | 135 |                                 | $ | 196  |  | $    | 461 |  | $ | 779 | 
|                     |  |                                  |     |                                 |   |      |  |      |     |  |   |     | 

Accounting fees represent annual audit and tax preparation fees,
quarterly reviews and filing fees of the Fund. Insurance expense represents
premiums related to producing well and well control insurance, which varies
dependent upon the number of wells producing and/or drilling and directors and
officers liability policy, which is allocated by the Manager to the Fund based
on capital raised by the Fund to total capital raised by all oil and gas funds managed by the Manager.
Trust fees represent bank fees associated with the management of the Funds cash accounts.

13

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Interest Income.Interest
income is comprised of interest earned on money market accounts and investments
in U.S. Treasury securities. For the three months ended September 30, 2008,
interest income was $0.3 million, a $0.6 million decrease from the three months
ended September 30, 2007. Interest income for the nine months ended September
30, 2008 was $0.9 million, a $2.0 million decrease from the nine months ended
September 30, 2007. These decreases were attributable to lower average interest
earning balances, due to property expenditures during the 2008 periods, coupled
with a reduction in interest rates.

Unrealized Gain on
Marketable Securities.During 2007, the Fund
purchased long-term available-for-sale U.S. Treasury securities, which mature
in December 2009. Unrealized gains and losses relate to the securities change
in fair value are recorded in other comprehensive income until realized. The
Fund recorded unrealized gains of $0.1 million and $0.3 million during the
three and nine months ended September 30, 2008, respectively. There were no
unrealized gains or losses on marketable securities during the three and nine
months ended September 30, 2007.

Capital Resources and Liquidity

Operating Cash Flows

Cash flows
provided by operating activities for the nine months ended September 30, 2008
were $11.1 million, principally attributable to revenue receipts of $13.3
million and interest income received of $0.7 million. These amounts were
partially offset by management fees of $1.8 million, operating expenses of $0.6
million, and general and administrative expenses of $0.5 million.

Cash flows
used in operating activities for the nine months ended September 30, 2007 were
$1.6 million, primarily related to management fees of $1.9 million, general and
administrative expenses of $0.8 million and unfavorable working capital of $0.1
million, partially offset by interest income received of $1.2 million.

Investing Cash Flows

Cash flows
used in investing activities for the nine months ended September 30, 2008 of
$14.5 million were principally related to capital expenditures for oil and gas
properties. The Fund received proceeds from the sale of marketable securities
of $15.2 million all of which were reinvested in marketable securities.
Additionally, the Fund increased its salvage fund investments by $26 thousand,
which consisted of the interest earned on this account.

Cash flows
used in investing activities for the nine months ended September 30, 2007 were
$25.7 million. The Fund made capital expenditures of $51.0 million for oil and
gas properties, advances to operators of $1.4 million and investments in
marketable securities totaling $45.0 million. These amounts were partially
offset by proceeds from the maturity of marketable securities of $71.8 million.
Additionally, the Fund increased its salvage fund investments by $36 thousand,
which consisted of the interest earned on this account.

Financing Cash Flows

Cash flows
used in financing activities for the nine months ended September 30, 2008 were
$8.9 million related to the payment of Manager and shareholder distributions.

Cash flows
used in financing activities for the nine months ended September 30, 2007 were
$11 thousand, relating to the payment of $59 thousand of syndication costs
offset by capital contributions of $48 thousand.

Estimated Capital Expenditures

The Fund has
entered into multiple offshore operating agreements for the drilling and
development of its investment properties. The estimated capital expenditures
associated with these agreements can vary depending on the stage of development
on a property-by-property basis. As of September 30, 2008, the Fund had
commitments related to participation agreements totaling $7.8 million for its
investment properties.

When the
Manager makes a decision for participation in a particular project, it assumes
that the well will be successful and allocates enough capital to budget for the
completion of that well and the additional development wells and infrastructure
anticipated. If the exploratory well is deemed a dry-hole or if it is
un-economical, the capital allocated to the completion of that well and to the development of additional
wells is then reallocated to a new project or used to make additional
investments.

14

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Liquidity Needs

The Funds
primary short-term liquidity needs are to fund its operations, including
management fees and capital expenditures, with existing cash on-hand, short-term
investments and income earned therefrom. The Manager is entitled to receive an
annual management fee from the Fund regardless of whether the Fund is
profitable in that year. The annual fee, payable monthly, is equal to 2.5% of
total capital contributed by shareholders, net of cumulative dry-hole and
related well costs incurred by the Fund.

With respect
to the payment of management fees, until one of the Funds projects begins
producing, all or a portion of the management fee is paid generally from the
interest or dividend income generated by the Funds development capital that
has not been spent, although the management fee can be paid out of capital
contributions. Such interest and/or dividend income is expected to be
sufficient to cover Fund expenses, including the management fee. However in
periods of declining interest rates, and as the Fund expends its capital on
projects, interest and/or dividend income may not be sufficient, which would
require the Fund to use capital contributions to fund such expenses. Generally,
it can take anywhere from 18 to 24 months to bring a project to production.
Once a well is on production, the management fee and fund expenses are paid
from operating income. Although the management fee can be paid out of capital
contributions, this is not the Funds intent.

Distributions
are funded from cash flow from operations, and the frequency and amount are
within the Managers discretion subject to available cash from operations,
reserve requirements and Fund operations.

The capital
raised by the Fund in its private placement is more than likely all the capital
it will be able to obtain for investments in projects. The number of projects
in which the Fund can invest will naturally be limited and each unsuccessful
project the Fund experiences, if any, will not only reduce its ability to
generate revenue, but also exhaust its limited supply of capital. Typically,
the Manager seeks an investment portfolio that combines high and low risk
exploratory projects.

Suspension of MMS
Royalty Relief

Under Mineral
Management Services (MMS) rules, the Fund is eligible for annual royalty
relief provided that the average New York Mercantile Exchange (NYMEX) sales
price for shallow water, deep gas (Average NYMEX Price) does not exceed price
thresholds established by the MMS, which will be published during the first
quarter of 2009. The Average NYMEX Price during the nine months ended September
30, 2008 was $9.73. Based upon current estimations of the 2008 price threshold
by the MMS, in the event the Average NYMEX Price exceeds $12.15 for the fourth
quarter of 2008, royalty relief would be suspended and the Fund would be
obligated to pay its previously relieved MMS royalties. In addition, the Funds
future reserve estimates report for gas would be reduced by 16.67%. The
reduction in revenues resulting from an obligation to pay these royalties and
subsequent reduction of proved reserves could have a material adverse effect on
the Funds results of operations. If the Average NYMEX Price is below the
threshold established by the MMS, the Fund would not have an obligation to pay
royalties for those properties which qualify for royalty relief and the reserve
balances would not be reduced. With regard to the shallow water, deep gas
properties, there was no reduction in reserves for potential future royalties
as of December 31, 2007 as a result of the average 2007 NYMEX price for gas
being below the price threshold.

The Funds gas
revenues for the nine months ended September 30, 2008 would be reduced by $2.0
million if the 2008 annual Average NYMEX Price ultimately exceeds the price
threshold established by the MMS. At September 30, 2008, the Fund has not
recorded a liability associated with this contingency.

Off-Balance Sheet Arrangements

The Fund had
no off-balance sheet arrangements as of September 30, 2008 and December 31,
2007 and does not anticipate the use of such arrangements in the future.

15

---



Contractual Obligations

The Fund
enters into operating agreements with operators. On behalf of the Fund, an
operator enters into various contractual commitments pertaining to exploration,
development and production activities. The Fund does not discuss or negotiate
any such contracts. No contractual obligations exist at September 30, 2008 and
December 31, 2007 other than those discussed in Estimated Capital
Expenditures above.

ITEM 3. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK

Not required.

ITEM 4. CONTROLS AND PROCEDURES

In accordance
with Exchange Act Rules 13a-15 and 15d-15, the Fund carried out an evaluation,
under the supervision and with the participation of management, including its
Chief Executive Officer and Chief Financial Officer, of the effectiveness of
our disclosure controls and procedures as of the end of the period covered by
this report. Based on that evaluation, our Chief Executive Officer and Chief
Financial Officer concluded that the Funds disclosure controls and procedures
were effective as of September 30, 2008.

There has been
no change in the Funds internal control over financial reporting that occurred
during the three months ended September 30, 2008 that has materially affected,
or is reasonably likely to materially affect, the Funds internal control over
financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Not required.

ITEM 2. UNREGISTERED SALES OF EQUITY
SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. SUBMISSIONS OF MATTERS TO A VOTE OF
SECURITY HOLDERS

None.

ITEM 5. OTHER INFORMATION

None.

16

---



ITEM 6. EXHIBITS

|                |  |                                                                                                                                                                                                                                                              | 
|--------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | 
|EXHIBIT
 NUMBER |  | TITLE OF
 EXHIBIT                                                                                                                                                                                                                                            | 
|                |  |                                                                                                                                                                                                                                                              | 
|               
|10.1            |  | Participation Agreement
 between LLOG Exploration Offshore, Inc., Mariner Energy, Inc., Stone Energy
 Corporation and Ridgewood Energy Corporation as Manager for Eos Project.                                                                              
|                |  |                                                                                                                                                                                                                                                              | 
|31.1            |  | Certification of Robert E.
 Swanson, Chief Executive Officer, pursuant to Securities Exchange Act Rule
 13a-14(a).                                                                                                                                          
|                |  |                                                                                                                                                                                                                                                              | 
|31.2            |  | Certification of Kathleen
 P. McSherry, Chief Financial Officer, pursuant to Securities Exchange Act
 Rule 13a-14(a).                                                                                                                                       
|                |  |                                                                                                                                                                                                                                                              | 
|32              |  | Certifications pursuant to
 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The
 Sarbanes-Oxley Act of 2002, signed by Robert E. Swanson, Chief Executive
 Officer of the Fund and Kathleen P. McSherry, Chief Financial Officer of the
 Fund.

17

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SIGNATURES

Pursuant to
the requirements of the Securities Exchange Act of 1934, the Registrant has
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

|       |                   |     |                                                                                                                    |  | 
|------ | ----------------- | --- | ------------------------------------------------------------------------------------------------------------------ |  | 
|Dated: | October 29,
 2008 |     | RIDGEWOOD
 ENERGY T FUND, LLC                                                                                     
|       |                   |     |                                                                                                                    |  | 
|       |                   | By: | /s/ ROBERT E. SWANSON                                                                                             
|       |                   |     |                                                                                                                    |  | 
|       |                   |     | Name: Robert E. Swanson                                                                                           
|       |                   |     | Title: President and Chief Executive Officer     
    (Principal Executive Officer)                               
|       |                   |     |                                                                                                                    |  | 
|Dated: | October 29,
 2008 |     |                                                                                                                    |  | 
|       |                   | By: | /s/ KATHLEEN P. McSHERRY                                                                                          
|       |                   |     |                                                                                                                    |  | 
|       |                   |     | Name: Kathleen P. McSherry                                                                                        
|       |                   |     | Title: Executive Vice President and Chief Financial Officer
          (Principal Financial and Accounting Officer)
|       |                   |     |                                                                                                                    |  | 
|       |                   |     |                                                                                                                    |  | 

18

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