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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 March 31, 2007                                           
|  |                                                                                           
|  | 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                                                           |  | 20-0141421                              
|------------------------------------------------------------------ |  | ----------------------------------------
|(State   or other jurisdiction of   incorporation or organization) |  | (I.R.S.   Employer   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)

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
xNo
o

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

| | Large accelerated   filer
o | Accelerated   filer
o | Non-accelerated   filer
x | 
| | --------------------------- | --------------------- | ------------------------- | 

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

As of June 22, 2007 there were 971.6054 shares of membership interest of the
registrant outstanding.

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##### 

Table of Contents

|                               |                                                                                                                                                |    |     
|------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------- | -- | ----
|                               |                                                                                                                                                |    | Page
|                               |                                                                                                                                                |    |     
|Part I - FINANCIAL INFORMATION |                                                                                                                                                | 3 
|Item 1.                        | Financial   Statements (Unaudited):                                                                                                            |    | 3   
|                               | Condensed   Balance Sheets as of March 31, 2007 and December 31, 2006                                                                          |    | 3   
|                               | Condensed Statements of Operations  for the three months
ended March 31, 2007 and the period April 12, 2006 (Inception) through March 31,
2007 |    | 4   
|                               | Condensed Statements of Cash Flows for the three months ended
March 31, 2007 and the period April 12, 2006 (Inception) through March 31,
2007  |    | 5   
|                               | Notes to   Unaudited Condensed Financial Statements                                                                                            |    | 6   
|Item 2.                        | Managements Discussion and Analysis of Financial
Condition and Results of Operations                                                          |    | 12  
|Item 3.                        | Quantitative and Qualitative Disclosures about Market
Risk                                                                                     |    | 17  
|Item 4.                        | Controls   and Procedures                                                                                                                      |    | 17  
|                               |                                                                                                                                                |    |     
|Part II - OTHER INFORMATION    |                                                                                                                                                | 18
|                               |                                                                                                                                                |    |     
|Item 1.                        | Legal   Proceedings                                                                                                                            |    | 18  
|Item 1A.                       | Risk   Factors                                                                                                                                 |    | 18  
|Item 2.                        | Unregistered   Sales of Equity Securities and Use of Proceeds                                                                                  |    | 18  
|Item 3.                        | Defaults   Upon Senior Securities                                                                                                              |    | 18  
|Item 4.                        | Submissions   of Matters to a Vote of Security Holders                                                                                         |    | 18  
|Item 5.                        | Other   Information                                                                                                                            |    | 18  
|Item 6.                        | Exhibits                                                                                                                                       |    | 19  
|                               |                                                                                                                                                |    |     
|                               | SIGNATURES                                                                                                                                     |    | 20  

2



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##### 

|PART I -   FINANCIAL INFORMATION  
|----------------------------------
|ITEM   1.  FINANCIAL STATEMENTS   
|                                  
|RIDGEWOOD ENERGY T FUND, LLC      
|(An exploratory stage enterprise) 
|UNAUDITED CONDENSED BALANCE SHEETS
|(in thousands, except share data) 

|                                                                                                                                                           |  | March 31,   2007 |         | December 31,   2006 |  
|---------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------- | ------- | ------------------- | -
|                                                                                                                                                           |  |                  |         |                     |  
|ASSETS                                                                                                                                                     |  |                  |         |                     |  
|Current assets:                                                                                                                                            |  |                  |         |                     |  
|Cash   and cash equivalents                                                                                                                                |  | $                | 10,604  |                     | $
|Short-term   investment in marketable securities                                                                                                           |  |                  | 70,931  |                     |  
|Other   current assets                                                                                                                                     |  |                  | 74      |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Total   current assets                                                                                                                                     |  |                  | 81,609  |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Salvage fund                                                                                                                                               |  |                  | 1,017   |                     |  
|Oil and gas properties -   unproved                                                                                                                        |  |                  | 4,715   |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Total   assets                                                                                                                                             |  | $                | 87,341  |                     | $
|                                                                                                                                                           |  |                  |         |                     |  
|LIABILITIES AND MEMBERS CAPITAL                                                                                                                           |  |                  |         |                     |  
|Current liabilities:                                                                                                                                       |  |                  |         |                     |  
|Due   to operator                                                                                                                                          |  | $                | 7,652   |                     | $
|Accrued   expenses payable                                                                                                                                 |  |                  | 378     |                     |  
|Due   to affiliates (Note 5)                                                                                                                               |  |                  | 2       |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Total   current liabilities                                                                                                                                |  |                  | 8,032   |                     |  
|Commitments and   contingencies (Note 7)                                                                                                                   |  |                  |         |                     |  
|Members capital:                                                                                                                                          |  |                  |         |                     |  
|Manager:                                                                                                                                                   |  |                  |         |                     |  
|Deficit   accumulated during the exploratory stage                                                                                                         |  |                  | (837    | )                   |  
|                                                                                                                                                           |  |                  |         |                     |  
|Managers   total                                                                                                                                          |  |                  | (837    | )                   |  
|                                                                                                                                                           |  |                  |         |                     |  
|Shareholders:                                                                                                                                              |  |                  |         |                     |  
|Capital contributions (1,000 shares authorized; 971.6054 and 972.1054 shares
issued and outstanding at March 31, 2007 and December 31, 2006,
respectively) |  |                  | 144,529 |                     |  
|Syndication   costs                                                                                                                                        |  |                  | (16,990 | )                   |  
|Subscription   receivable                                                                                                                                  |  |                  | (25     | )                   |  
|Deficit   accumulated during the exploratory stage                                                                                                         |  |                  | (47,368 | )                   |  
|                                                                                                                                                           |  |                  |         |                     |  
|Shareholders   total                                                                                                                                      |  |                  | 80,146  |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Total   members capital                                                                                                                                   |  |                  | 79,309  |                     |  
|                                                                                                                                                           |  |                  |         |                     |  
|Total   liabilities and members capital                                                                                                                   |  | $                | 87,341  |                     | $
|                                                                                                                                                           |  |                  |         |                     |  

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

3



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##### 

|RIDGEWOOD ENERGY T FUND, LLC                  
|----------------------------------------------
|(An exploratory stage enterprise)             
|UNAUDITED CONDENSED STATEMENTS OF   OPERATIONS
|(in thousands, except per share data)         

|                                        |  | For the three   months ended   March 31, 2007 |         | For the period   April 12, 2006   (Inception)   through   March 31, 2007 |  
|--------------------------------------- |  | --------------------------------------------- | ------- | ------------------------------------------------------------------------ | -
|                                        |  |                                               |         |                                                                          |  
|Revenue                                 |  |                                               |         |                                                                          |  
|Oil   and gas revenue                   |  | $                                             |        |                                                                          | $
|                                        |  |                                               |         |                                                                          |  
|Expenses                                |  |                                               |         |                                                                          |  
|Dry-hole   costs                        |  |                                               | 9,141   |                                                                          |  
|Investment   fees to affiliate (Note 5) |  |                                               | (3      | )                                                                        |  
|Management   fees to affiliate (Note 5) |  |                                               | 636     |                                                                          |  
|General   and administrative expenses   |  |                                               | 327     |                                                                          |  
|                                        |  |                                               |         |                                                                          |  
|Total   expenses                        |  |                                               | 10,101  |                                                                          |  
|                                        |  |                                               |         |                                                                          |  
|Loss   from operations                  |  |                                               | (10,101 | )                                                                        |  
|Other   income                          |  |                                               |         |                                                                          |  
|Interest   income                       |  |                                               | 1,153   |                                                                          |  
|                                        |  |                                               |         |                                                                          |  
|Net   loss                              |  | $                                             | (8,948  | )                                                                        | $
|                                        |  |                                               |         |                                                                          |  
|Manager interest                        |  |                                               |         |                                                                          |  
|Net   loss                              |  | $                                             | (219    | )                                                                        | $
|Shareholder interest                    |  |                                               |         |                                                                          |  
|Net   loss                              |  | $                                             | (8,729  | )                                                                        | $
|Net   loss per share                    |  | $                                             | (8,984  | )                                                                        | $

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

4



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##### 

|RIDGEWOOD ENERGY T FUND, LLC                
|--------------------------------------------
|(An exploratory stage enterprise)           
|UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
|(in thousands)                              

|                                                                             |  | For the three   months ended   March 31, 2007 |         | For the period   April 12, 2006   (Inception)   through   March 31, 2007 |  
|---------------------------------------------------------------------------- |  | --------------------------------------------- | ------- | ------------------------------------------------------------------------ | -
|                                                                             |  |                                               |         |                                                                          |  
|Cash flows   from operating activities                                       |  |                                               |         |                                                                          |  
|Net   loss                                                                   |  | $                                             | (8,948  | )                                                                        | $
|Adjustments   to reconcile net loss to net cash used in operating activities |  |                                               |         |                                                                          |  
|Dry-hole   costs                                                             |  |                                               | 9,141   |                                                                          |  
|Interest   earned on marketable securities                                   |  |                                               | (713    | )                                                                        |  
|Changes   in assets and liabilities:                                         |  |                                               |         |                                                                          |  
|Decrease   (increase) in other current assets                                |  |                                               | 190     |                                                                          |  
|Increase   in accrued expenses payable                                       |  |                                               | 267     |                                                                          |  
|(Decrease)   increase in due to affiliates                                   |  |                                               | (37     | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Net   cash used in operating activities                                      |  |                                               | (100    | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Cash flows   from investing activities                                       |  |                                               |         |                                                                          |  
|Capital   expenditures for oil and gas properties                            |  |                                               | (32,665 | )                                                                        |  
|Salvage   fund investments                                                   |  |                                               | (12     | )                                                                        |  
|Investment   in marketable securities                                        |  |                                               | (20,000 | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Net   cash used in investing activities                                      |  |                                               | (52,677 | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Cash flows   from financing activities                                       |  |                                               |         |                                                                          |  
|Contributions   from shareholders                                            |  |                                               | 23      |                                                                          |  
|Syndication   costs paid                                                     |  |                                               | (58     | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Net   cash (used in) provided by financing activities                        |  |                                               | (35     | )                                                                        |  
|                                                                             |  |                                               |         |                                                                          |  
|Net   (decrease) increase in cash and cash equivalents                       |  |                                               | (52,812 | )                                                                        |  
|Cash   and cash equivalents, beginning of period                             |  |                                               | 63,416  |                                                                          |  
|                                                                             |  |                                               |         |                                                                          |  
|Cash   and cash equivalents, end of period                                   |  | $                                             | 10,604  |                                                                          | $
|                                                                             |  |                                               |         |                                                                          |  

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

5



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##### 

RIDGEWOOD ENERGY T FUND, LLC(An exploratory stage enterprise)NOTES TO UNAUDITED CONDENSED FINANCIAL
STATEMENTS

1.     Organization and Purpose

The Ridgewood Energy T Fund, LLC (the Fund) (an exploratory stage
enterprise), 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.  Although the date of formation is April 12, 2006, the Fund did not
begin business activities until June 15, 2006 when it began its private offering
of shares.

The Fund was organized to acquire, drill, construct and develop oil and natural
gas properties located in the United States offshore waters of Texas, Louisiana
and Alabama in the Gulf of Mexico.  The Fund has devoted most of its
efforts to raising capital and oil and natural gas exploration activities. 
To date, the Fund has not earned revenue from these operations and is considered
in the exploratory stage.

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 (Notes 2, 5 and
7).

2.     Summary of Significant Accounting Policies

Basis of PresentationThese 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 Funds December 31, 2006 financial
statements and the notes thereto included in the Funds Registration
Statement on Form 10 filed with the Securities and Exchange Commission
(SEC).

Exploratory Stage EnterpriseManagement uses various criteria
to evaluate whether the Fund is an exploratory stage enterprise, including but
not limited to, the success of drilling, the timing, significance, quality and
flow of production and the results of reserve reports obtained from
experts.  On a case by case basis, once a project begins production,
management performs diligent analysis at regular intervals utilizing the various
criteria noted above to determine the appropriate classification of the Fund as
an exploratory stage entity.  Based on such an analysis, management has
determined the Fund continues to be an exploratory stage enterprise.

Use of EstimatesThe preparation of financial statements in
conformity with accounting principles generally accepted in the United States of
America 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 environmental liabilities.  Actual results may
differ from those estimates.

6



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##### 

Advances to Operators for Working Interests and ExpendituresThe Funds acquisition of a working interest in a well or a project
requires it to make a payment to the seller for the Funds rights, title
and interest.  The Fund is required to advance its share of estimated cash
outlay 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.

Oil and Natural Gas PropertiesInvestments in oil and natural
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 natural 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
natural crude oil and natural 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 (i.e. a producing well), the
cost and related accumulated depletion and amortization will be eliminated from
the property accounts, and the resultant gain or loss is recognized.  On
the sale or retirement of an unproved property, gain or loss on the sale is
recognized.  Currently it is not the Managers intention to sell any of the
Funds property interests.

Capitalized acquisition costs of producing oil and natural gas properties after
recognizing estimated salvage values are depleted by the unit-of-production
method.

At March 31, 2007 and December 31, 2006 amounts recorded in due to operators
related to the acquisition of oil and gas property were $7.7 million and $26.5
million, respectively.  Amounts due at December 31, 2006 were paid in
2007.

Revenue Recognition and Production ReceivableOil and natural
gas sales are recognized when delivery is made by the Operator to the purchaser
and title is transferred (i.e., production has been delivered to a pipeline or
transport vehicle).  At the time of transfer a production receivable is
recorded.  The Fund has not earned revenue from inception through March 31,
2007.

Upon production, the volume of oil and natural gas sold on the Funds behalf may differ from
the volume of oil and natural gas the Fund is entitled to.  The Fund will
account for such oil and natural gas production imbalances by the entitlements
method.  Under the entitlements method, the Fund will recognize a
receivable from other working interest owners for volumes oversold by other
working interest owners, and a payable to other working interest owners for
volumes oversold by the Fund.  At March 31, 2007 and December 31, 2006,
there were no oil or natural gas balancing arrangements between the Fund and
other working interest owners.

Syndication CostsDirect 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
outside brokers are reflected as a reduction of shareholders
capital.

Asset Retirement ObligationsFor oil and natural 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 following table presents
changes to the asset retirement obligations.

7



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##### 

|                                |  | March 31, 2007 |      | December 31, 2006 |  
|------------------------------- |  | -------------- | ---- | ----------------- | -
|                                |  |                |      |                   |  
|                                |  | (in thousands) |     
|Balance - Beginning of   period |  | $              |     |                   | $
|Liabilities incurred            |  |                | 531  |                   |  
|Liabilities settled             |  |                | (531 | )                 |  
|                                |  |                |      |                   |  
|Balance - End of period         |  | $              |     |                   | $
|                                |  |                |      |                   |  

Impairment of Long-Lived AssetsIn accordance with the
provisions of Statement of Financial Accounting Standards No. 144,
Accounting for the Impairment of Long-Lived Assets, long-lived
assets, such as oil and natural 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.   For the three months ended March 31, 2007 and for the period
April 12, 2006 (Inception) through March 31, 2007, the Fund has not recorded any
asset impairments.

Depletion and AmortizationDepletion and amortization of the
cost of proved oil and natural 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.  At March 31,
2007 and December 31, 2006, the Fund did not have accumulated depletion as
production has not yet occurred.

Income TaxesNo provision is made for income taxes in the
financial statements.  Because the Fund is a limited liability corporation
(LLC), the income or losses are passed through and included in the
tax returns of the individual shareholders.

Cash and Cash EquivalentsAll highly liquid investments with
maturities when purchased of three months or less are considered as cash and
cash equivalents.  At times, bank deposits may be in excess of federal
insured limits.  At March 31, 2007 and December 31, 2006, bank balances
exceeded federally insured limits by approximately $10.4 million and $38
million, respectively.  The Fund maintains bank deposits with accredited
financial institutions to mitigate such risk.

Salvage FundPursuant to the Funds LLC Agreement, 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.

Interest earned on the account will become part of the salvage fund; there are
no legal restrictions on the withdrawal from the salvage fund.

Short-term Investments in Marketable SecuritiesAt times the
Fund may purchase short-term investments comprised of US Treasury Notes with
maturities greater than three months and as such are considered held-to-maturity
investments.  Held-to-maturity securities are those investments that the
Fund has the ability and intent to hold until maturity.  Held-to-maturity
investments are recorded at cost plus accrued income, adjusted for the
amortization of premiums and discounts, which approximate fair value. 
Interest income is accrued as earned.  Held to maturity investments at
March 31, 2007 of $50.8 million matured in May 2007 and held to maturity
investments totaling $21.1 million, inclusive of the salvage fund, mature in
June and August 2007.

8



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##### 

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

Non-Cash Financing TransactionsSyndication costs of $1
thousand and $69 thousand have been accrued at March 31, 2007 and December 31,
2006, respectively.  Share purchases of $25 thousand and $123 thousand are
recorded as subscription receivables at March 31, 2007 and December 31, 2006,
respectively.

3.     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.  Capitalization
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.  Dry-hole costs were $9.1 million and $41.7 million for the three
months ended March 31, 2007 and for the period April 12, 2006 (Inception)
through March 31, 2007, respectively.

|                   |  | For the three   months ended   March 31,   2007 |       | For the period   April 12, 2006   (Inception) through   March 31,   2007 |  
|------------------ |  | ----------------------------------------------- | ----- | ------------------------------------------------------------------------ | -
|                   |  |                                                 |       |                                                                          |  
|                   |  | (in thousands)                                  |      
|Dry-hole   costs   |  |                                                 |       |                                                                          |  
|Green   Canyon 246 |  | $                                               | 9,052 |                                                                          | $
|West   Cameron 109 |  |                                                 | 89    |                                                                          |  
|                   |  |                                                 |       |                                                                          |  
|Total              |  | $                                               | 9,141 |                                                                          | $
|                   |  |                                                 |       |                                                                          |  

The following table reflects the net changes in unproved properties for the
three months ended March 31, 2007.  At March 31, 2007 and December 31,
2006, the Fund had no capitalized exploratory well costs greater than one
year.

|                                                                                             |  | March 31,   2007 |       | December 31,   2006 |  
|-------------------------------------------------------------------------------------------- |  | ---------------- | ----- | ------------------- | -
|                                                                                             |  |                  |       |                     |  
|                                                                                             |  | (in thousands)   |      
|Balance - Beginning of the   period                                                          |  | $                |      |                     | $
|Additions to capitalized exploratory well costs pending the determination of
proved reserves |  |                  | 4,715 |                     |  
|Reclassifications to proved properties based on the determination of proved
reserves         |  |                  |      |                     |  
|Capitalized exploratory   well costs charged to dry hole costs                               |  |                  |      |                     |  
|                                                                                             |  |                  |       |                     |  
|Balance - End of the period                                                                  |  | $                | 4,715 |                     | $
|                                                                                             |  |                  |       |                     |  

4.     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 LLC Agreement, is to be distributed.  Such distribution will be
allocated 85% to the shareholders and 15% to the Manager, as defined in the LLC
Agreement.

9



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##### 

Available cash from dispositions, as defined in the 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.

There have been no distributions made by the Fund from inception through March
31, 2007.

5.     Related Parties

Ridgewood Energy Corporation, the Manager was paid a one time investment fee of
4.5% of initial capital contributions.  Fees are payable for services of
investigating and evaluating investment opportunities and effecting transactions
and are expensed as incurred.   For the period April 12, 2006
(Inception) through March 31, 2007, investment fees were $6.5 million. 
During 2007, one investor, previously subscribed, was not qualified to participate in
the Fund resulting in a credit to investment fees of $3 thousand for the three
months ended March 31, 2007.  At March 31, 2007 and December 31, 2006
investment fees payable of $1 thousand and $38 thousand, respectively were
included in due to affiliates.

A management 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.
Effective January 1, 2007, the Manager has changed its policy regarding the
annual management fee.  Under the new policy, the management fee is equal
to 2.5% of the total shareholder capital contributions, net of cumulative
dry-hole costs incurred by the Fund, updated quarterly.  For the three
months ended March 31, 2007, the management fee was reduced by $68 thousand per
month, based upon dry-hole expenses of $32.6 million through December 31,
2006.  Management fees for the three months ended March 31, 2007 and for
the period April 12, 2006 (Inception) through March 31, 2007 were $0.6 million
and $2.2 million, respectively.

The Manager was paid an offering fee of $5.1 million, which approximated 3.5% of
capital contributions, directly related to the offer and sale of shares of the
Fund.  Such offering fee was included in syndication costs (Note 2) of
$17.0 million at March 31, 2007 and December 31, 2006.  Of this amount, $1
thousand and $30 thousand were included in due to affiliates at March 31, 2007
and December 31, 2006, 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.  There were no such amounts payable or receivable at March 31,
2007 or December 31, 2006.

In 2006, Ridgewood Securities Corporation, a registered broker-dealer affiliated
with the Manager, was paid selling commissions and placement fees totaling $1.5
million for shares sold of the Fund which is reflected in syndication costs
(Note 2).  At March 31, 2007 and December 31, 2006, nil and $5 thousand,
respectively, were included in due to affiliates.

None of the compensation to be received by 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 natural gas projects with other entities that are likewise
managed by the Manager.

6.     Fair Value of Financial Instruments

As of March 31, 2007 and December 31, 2006, the carrying value of cash and cash
equivalents, short-term investments in marketable securities and salvage fund,
approximate fair value.

7.     Commitment and Contingencies

Environmental ConsiderationsThe exploration for and
development of oil and natural gas involves the extraction, production and
transportation of materials which, under certain conditions, can be hazardous or
cause environmental pollution problems. The Manager and 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

10



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##### 

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 natural 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 March 31, 2007 and December
31, 2006, there were no known environmental contingencies that required the Fund
to record a liability.

Insurance CoverageThe Fund is subject to all risks inherent
in the exploration for and development of oil and natural 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.

8.     Subsequent Events

On June 8, 2007, the Fund was
notified by a custodian that an investor whom had committed to purchase 0.5 shares was
deemed unqualified to participate, resulting in a write-off of $75 thousand of capital
contributions and subscriptions receivable, and a corresponding reduction in syndication
costs and investment fees of $9 thousand and $3 thousand, respectively. These reductions
are recorded in the Funds March 31, 2007 financial statements.

11



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##### 

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

Cautionary Statement Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q, including all documents incorporated by
reference, includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the Securities
Act) and Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995, and the safe
harbor provisions thereof. These forward-looking statements are usually
accompanied by the words anticipates, believes,
plan, seek, expects, intends,
estimates, projects, will likely result,
future and similar terms and expressions. The forward-looking
statements in this Quarterly Report on Form 10-Q reflect our current views with
respect to future events and financial performance. These forward-looking
statements are subject to certain risks and uncertainties, including, among
other things, the high-risk nature of natural gas exploratory operations, the
fact that our drilling activities are managed by third parties, the volatility
of natural gas prices and extraction, and those other risks and uncertainties
discussed in the Funds Registration Statement on Form 10 filed with the
Securities and Exchange Commission that could cause actual results to differ
materially from historical results or those anticipated. You are urged to
carefully consider all such factors.

In light of these risks and uncertainties, there can be no assurance that the
forward-looking information contained in this Form 10-Q will in fact occur or
prove to be accurate. Readers should not place undue reliance on the
forward-looking statements contained herein, which speak only as of todays
date. We undertake no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that may arise after today. All
subsequent written or oral forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their entirety by this
section.

Critical Accounting Policies and Estimates

The following discussion and analysis of our financial condition and operating
results is based on our financial statements. The preparation of this Quarterly
Report on Form 10-Q requires us to make estimates and assumptions that affect
the reported amount of assets and liabilities, disclosure of contingent assets
and liabilities at the date of our 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 critical accounting policies.  No changes
have been made to our critical accounting policies and estimates since the
filing of the Registration Statement on Form 10.

Overview of Our Business

The Fund is an independent oil and natural gas producer. The Funds primary
investment objective is to generate cash flow for distribution to our
shareholders through participation in oil and natural gas exploration and
development projects in the Gulf of Mexico.  The Fund began its operations
by offering our shares in a private offering on June 15, 2006. As a result of
such offering, it raised capital of approximately $144.5 million through the
sale of 971.6054 shares of LLC membership interests. After the payment of
approximately $23.5 million in offering fees, commissions and investment fees to
the Funds Manager, affiliates and broker-dealers, the Fund retained
approximately $121.0 million available for investment.  Investment fees
represent a one time fee of 4.5% of initial capital contributions. The fee is
payable for the service of investigating and evaluating investment opportunities
and affecting transactions.  Since April 2006, the Fund has acquired an
interest in five offshore projects in the Gulf of Mexico.  The Fund was
notified by its operators that two of its projects had resulted in
dry-holes.

The Manager performs certain duties on the Funds behalf including the
evaluation of potential projects for investment and ongoing administrative and
advisory services associated with these projects. 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 for the
management of all exploration, development and producing operations, as
appropriate. The Manager is paid a one-time investment fee (4.5% of capital
contributions) for the evaluation of projects on the Funds behalf and an
annual management fee (2.5% of capital contributions, net of cumulative dry-hole
costs), payable monthly, for on-going administrative and advisory duties as well
as reimbursement of expenses.

12



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##### 

The Manager also participates in distributions.

Business Update

The Fund owns working interests in five offshore blocks and has participated in
the drilling of four wells, two of which were determined to be dry-holes. 
One well was determined to be a discovery in May 2007 and another well is
scheduled to be drilled in the third quarter 2007.

|Lease   Block           |  | Working Interest |  |  | Operator                          |  | Off-shore Location in Gulf of Mexico |  | Drilling Risk (b) |       | Total Spent    3/31/2007 |   | Status
|----------------------- |  | ---------------- |  |  | --------------------------------- |  | ------------------------------------ |  | ----------------- | ----- | ------------------------ | - | ------
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|                        |  |                  |  |  |                                   |  |                                      |  | (in thousands)    |       |                         
|Dry holes   (a)         |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|Green   Canyon 246      |  | 41.7%            |  |  | Woodside Energy (USA) Inc.        |  | Louisiana                            |  |                   | N/A   |                          | $ | 33,267
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|West   Cameron 109      |  | 22.5%            |  |  | Nexen Petroleum Offshore   U.S.A. |  | Louisiana                            |  |                   | N/A   |                          | $ | 8,464 
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|Current   projects      |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|West   Cameron 75       |  | 20.0%            |  |  | El Paso E&P Company,   L.P.       |  | Louisiana                            |  | $                 | 9,625 |                          | $ | 4,418 
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|Eugene   Island 346/347 |  | 10.0%            |  |  | Newfield Exploration   Company    |  | Louisiana                            |  | $                 | 3,600 |                          | $ | 296   
|                        |  |                  |  |  |                                   |  |                                      |  |                   |       |                          |   |       
|West   Cameron 76 #12   |  | 11.2%            |  |  | BHP Billiton Petroleum Inc.       |  | Louisiana                            |  | $                 | 1,686 |                          | $ | -     

|   
|---
|(a)
|   
|(b)

Results of Operations

The following review of operations for the three months ended March 31, 2007 and
for the period April 12, 2006 (Inception) through March 31, 2007 should be read
in conjunction with the Funds financial statements and the notes
thereto.  The following table summarizes the Funds results of
operations (in thousands):

13



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##### 

|                                      |  | For the three   months ended   March 31, 2007 |         | For the period April 12, 2006 (Inception) through March 31,
2007 |  
|------------------------------------- |  | --------------------------------------------- | ------- | ---------------------------------------------------------------- | -
|                                      |  |                                               |         |                                                                  |  
|Revenue                               |  |                                               |         |                                                                  |  
|Oil   and gas revenue                 |  | $                                             |        |                                                                  | $
|                                      |  |                                               |         |                                                                  |  
|Expenses                              |  |                                               |         |                                                                  |  
|Dry-hole   costs                      |  |                                               | 9,141   |                                                                  |  
|Investment   fees to affiliate        |  |                                               | (3      | )                                                                |  
|Management   fees to affiliate        |  |                                               | 636     |                                                                  |  
|General   and administrative expenses |  |                                               | 327     |                                                                  |  
|                                      |  |                                               |         |                                                                  |  
|Total   expenses                      |  |                                               | 10,101  |                                                                  |  
|                                      |  |                                               |         |                                                                  |  
|Loss   from operations                |  |                                               | (10,101 | )                                                                |  
|                                      |  |                                               |         |                                                                  |  
|Other   income                        |  |                                               |         |                                                                  |  
|Interest   income                     |  |                                               | 1,153   |                                                                  |  
|                                      |  |                                               |         |                                                                  |  
|Net   loss                            |  | $                                             | (8,948  | )                                                                | $
|                                      |  |                                               |         |                                                                  |  

Operating Revenues.From inception of the Fund
through March 31, 2007, the Fund has not recorded any operating revenues and is
considered an exploratory stage enterprise.

Operating and Other Expenses

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 natural gas in sufficient quantities to justify
completion of the well. The following table summarizes dry-hole costs inclusive
of plug and abandonment costs for the three months ended March 31, 2007 and the
period from April 12, 2006 (Inception) through March 31, 2007.

|                   |  | For the three   months ended   March 31,   2007 |       | For the period   April 12, 2006   (Inception) through   March 31,   2007 |  
|------------------ |  | ----------------------------------------------- | ----- | ------------------------------------------------------------------------ | -
|                   |  |                                                 |       |                                                                          |  
|                   |  | (in thousands)                                  |      
|Dry-hole   costs   |  |                                                 |       |                                                                          |  
|Green   Canyon 246 |  | $                                               | 9,052 |                                                                          | $
|West   Cameron 109 |  |                                                 | 89    |                                                                          |  
|                   |  |                                                 |       |                                                                          |  
|Total              |  | $                                               | 9,141 |                                                                          | $
|                   |  |                                                 |       |                                                                          |  

Investment Fees.
The Manager was paid a one time
investment fee of 4.5% of initial capital contributions. The fee is payable for the
service of investigating and evaluating investment opportunities and affecting
transactions when the capital contributions are made. For the period April 12, 2006
(Inception) through March 31, 2007, investment fees paid were approximately $6.5 million.
On June 8, 2007, the Fund was notified by a custodian that an investor whom had committed
to purchase 0.5 shares was deemed unqualified to participate, resulting in a reduction in
investment fees of $3 thousand for the three months ended March 31, 2007.

Management Fees.The Manager receives an annual management fee,
payable monthly, of 2.5% of total capital contributions.  Management fees
are charged to cover expenses associated with overhead incurred by the Manager
for its on-going 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. Commencing in January
1, 2007, the management fee, payable monthly, is equal to 2.5% of the total
shareholder capital contributions, net of dry-hole expenses incurred by the
Fund.  Management fees for the three months ended March 31, 2007 and for
the period April 12, 2006 (Inception) through March 31, 2007 were approximately
$0.6 million and $2.2 million, respectively.

14



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##### 

General and Administrative Expenses.Accounting, legal, fiduciary
fees and insurance expenses represent costs specifically identifiable or
allocable to the Fund. Accounting and legal fees represent annual audit and tax
preparation fees, quarterly reviews and filing fees of the Fund.  
Insurance expense represents premiums related to well control insurance and
production insurance.

The following table summarizes general and administrative expenses for the three
months ended March 31, 2007 and for the period April 12, 2006 (Inception)
through March 31, 2007.

|                                      |  | For the three    months ended    March 31,   2007 |     | For the period April 12, 2006 (Inception) through March 31,   2007 |  
|------------------------------------- |  | ------------------------------------------------- | --- | ------------------------------------------------------------------ | -
|                                      |  |                                                   |     |                                                                    |  
|                                      |  | (in thousands)                                    |    
|General   and administrative expenses |  |                                                   |     |                                                                    |  
|Accounting   and legal fees           |  | $                                                 | 42  |                                                                    | $
|Insurance                             |  |                                                   | 246 |                                                                    |  
|Trust   fees                          |  |                                                   | 39  |                                                                    |  
|Other                                 |  |                                                   |    |                                                                    |  
|                                      |  |                                                   |     |                                                                    |  
|                                      |  | $                                                 | 327 |                                                                    | $
|                                      |  |                                                   |     |                                                                    |  

Other Income.Other income is comprised of interest income and
represents interest earned on money market accounts and short-term US Treasury
Notes.  Interest income for the three months ended March 31, 2007 and for
the period April 12, 2006 (Inception) through March 31, 2007, totaled
approximately $1.2 million and $3.1 million, respectively.

Capital Resources and Liquidity

Operating Cash FlowsCash flows used in operating activities
for the three months ended March 31, 2007 were $0.1 million, primarily related
to management fees of $0.6 million, and general and administrative fees of $0.3
million, offset by interest income received of $0.7 million and favorable
working capital of $0.2 million.

Cash flows used in operating activities for the period April 12, 2006
(Inception) through March 31, 2007 were $7.1 million, related to management fees
of $2.2 million, investment fees of $6.5 million and general and administrative
fees of $0.8 million partially offset by interest income received of $2.2
million and favorable working capital of $0.3 million.

Investing Cash FlowsCash flows used in investing activities
for the three months ended March 31, 2007 were approximately $52.7
million.  The Fund made investments in marketable securities of $20.0
million, inclusive of salvage fund.  Additionally, the Fund made capital
expenditures of $32.7 million for oil and natural gas properties.

Cash flows used in investing activities for the period April 12, 2006
(Inception) through March 31, 2007 were approximately $109.8 million.  The
Fund made investments in marketable securities of $71.0 million, inclusive of
salvage fund.  Additionally, the Fund made capital expenditures of $38.8
million for oil and natural gas properties.

Financing Cash FlowsCash flows used in financing activities
for the three months ended March 31, 2007 were $35 thousand related to the
payment of $58 thousand of syndication costs partially offset by collection of
$23 thousand of subscriptions receivable.

Cash flows provided by financing activities for the period April 12, 2006
(Inception) through March 31, 2007 were $127.5 million of which $144.5 related
to contributions from shareholders offset by $17.0 million of syndications
costs.

15



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##### 

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 March 31,
2007, such estimated capital expenditures to be spent totaled $30.7 million, all
of which is expected to be paid out of unspent capital contributions within the
following 12 months.

The table below presents exploration and development capital expenditures from
inception as well as estimated budgeted amounts for future periods. 
Remaining unspent development capital will be reallocated to one or more new
unspecified projects.

|Estimated   Capital Expenditures |  |                                |        |                              |   |        | 
|-------------------------------- |  | ------------------------------ | ------ | ---------------------------- | - | ------ | 
|As of   March 31, 2007           |  |                                |        |                              |   |        | 
|(in   thousands)                 |  |                                |        |                              |   |        | 
|                                 |  |                                |        |                              |   |        | 
|                                 |  | Spent Through   March 31, 2007 |        | To be Spent   Next 12 Months |  
|                                 |  |                                |        |                              |   |        | 
|Projects:                        |  |                                |        |                              |   |        | 
|Green   Canyon 246               |  | $                              | 33,267 |                              | $ |       | 
|West   Cameron 109               |  |                                | 8,464  |                              |   |       | 
|West   Cameron 75                |  |                                | 4,418  |                              |   | 9,562  | 
|Eugene   Island 346/347          |  |                                | 296    |                              |   | 18,684 | 
|West   Cameron 76 well #12       |  |                                |       |                              |   | 2,470  | 
|                                 |  |                                |        |                              |   |        | 
|                                 |  | $                              | 46,445 |                              | $ | 30,716 | 
|                                 |  |                                |        |                              |   |        | 

Liquidity Needs

The Funds primary short-term liquidity needs are to fund its 2007
operations, including management fees and capital expenditures, with existing
cash on-hand and income earned from its short-term investments and cash and cash
equivalents.  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 expenses incurred by the Fund.

On a long-term basis, 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 more than enough to cover Fund expenses, including the
management fee.   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.  Over time as a well
produces, the Fund may recover some or the entire management fee that may have
been paid out of capital contributions.

Distributions, if any, 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 for a fund, the Manager seeks an investment portfolio that combines
high and low risk exploratory projects.

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 that are
anticipated to be drilled. 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.

16



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##### 

Off-Balance Sheet Arrangements

The Fund had no off-balance sheet arrangements as of March 31, 2007 and December
31, 2006 and does not anticipate the use of such arrangements in the
future.

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 March 31, 2007 and December 31, 2006.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Projects drilled may not have commercially productive oil and natural gas
reservoirs. In such an event, the Funds revenue, future results of
operations and financial condition would be adversely impacted.

The Fund does not have or use, any derivative instruments nor does it have any
plans to enter into such derivative arrangements. The Fund will generally invest
cash in high-quality credit instruments consisting primarily of money market
funds, bankers acceptance notes and government agency securities with
maturities of six months or less. The Fund does not expect any material loss
from cash equivalents and therefore believes its potential interest rate
exposure is not material. The Fund has no plan to conduct any international
activities and therefore believes it is not subject to foreign currency
risk.

The principal market risks to which the Fund is exposed that may adversely
impact the Funds results of operations and financial position are changes
in oil and natural gas prices.

Low commodity prices could have an adverse affect on the Funds future
profitability and, in such an event the Fund may be required by accounting rules
to write down the carrying value of the Funds projects.  Revenue to
the Fund will be sensitive to changes in price to be received for oil and
natural gas production. Prevailing market prices fluctuate in response to many
factors that are outside of the Funds control such as the supply and
demand for oil and natural gas. Availability of alternative fuels as well as
seasonal risks such as hurricanes can also impact the supply and
demand.

High oil and natural gas prices have resulted in a strong demand for and a tight
supply of drilling rigs necessary to drill new projects. The increased cost in
daily rig rates could have a negative impact on the return to shareholders in
the Fund. The shortage of drilling rigs could delay the application of capital
to such projects and thus delay revenue from operations.

ITEM 4.  CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and ProceduresThe Fund maintains disclosure controls and procedures, as such term is defined under Securities and Exchange Act of 1934 (Exchange Act) Rule 13a-15(e), that are designed to ensure that information required to be disclosed in the Funds Exchange Act reports is recorded, processed, summarized and reported within the same time periods specified in the SECs rules and forms, and that such information is accumulated and communicated to its management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, the Funds management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives and its
management necessarily was required to apply its judgment in evaluating the
cost-benefit relationship of possible controls and procedures. The Fund has
carried out an evaluation, as of March 31, 2007, under the supervision and with
the participation of its management, including its Chief Executive Officer and
Chief Financial Officer, of the effectiveness of the design and operation of the
Funds disclosure controls and procedures.  Based upon their
evaluation and subject to the foregoing, such procedures were
effective.

17



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##### 

Because the Fund is not an Accelerated Filer as defined in Rule
12b-2 of the Exchange Act, the Fund is not presently required to file
Managements annual report on internal control over financial reporting and
the Attestation report of the registered public accounting firm required by Item
308(a) and (b) of Regulation S-K promulgated under the Securities Act. 
Under current rules, because the Fund is neither a large accelerated
filer nor an accelerated filer, the Fund is not required to
provide managements report on internal control over financial reporting
until the Fund files its annual report for 2007 and compliance with the
auditors attestation report requirement is not required until the Fund
files its annual report for 2008.  The Fund currently expects to comply
with these requirements at such time as the Fund is required to do
so.

Changes in Internal Controls over Financial ReportingIn the
course of our initial evaluation of disclosure controls and procedures,
management considered certain internal control areas in which we have made and
are continuing to make changes to improve and enhance controls.  Based upon
that evaluation, the CEO and CFO concluded that there were no changes in our
internal control over financial reporting identified in connection with the
evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that
occurred during the quarter ended March 31, 2007 that have materially affected,
or are reasonably likely to materially affect, our internal control over
financial reporting.

PART II.  OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

For information regarding factors that could affect the Funds results of
operations, financial condition and liquidity, see risk factors discussed under
Managements Discussion and Analysis of Financial Condition and
Results of Operations  in Item 1A of the Funds 
Registration Statement on Form 10.  There have been no material changes
from the risk factors previously disclosed in the Funds Registration
Statement on Form 10.

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.

18



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##### 

ITEM 6. EXHIBITS

|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 Company and Kathleen P. McSherry, Chief Financial Officer of   the Company.

19



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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:     June   22, 2007 | RIDGEWOOD ENERGY T FUND,   LLC
|-------------------------- | ------------------------------
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|Dated:     June   22, 2007 | By:                           
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