<page> 1

SECURITIES AND EXCHANGE COMMISSION

Washington, 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 ~~June~~September 30, 2002

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Transition Period Ended______________________

Commission File Number 2-784441

STERLING GAS DRILLING FUND 1982

(Exact name of registrant as specified in charter)

New York

(State or other jurisdiction of incorporation or organization)

13-3147901

(IRS employer identification number)

One Landmark Square, Stamford Connecticut 06901

(Address and Zip Code of principal executive offices)

(203) 358-5700

(Registrant's telephone number, including area code)

NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last report)

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

<page> 2

PART I

Item 1. Financial Statements The following Financial Statements are filed herewith: Balance Sheets ~~June~~September 30, 2002 and December 31, ~~2002~~2001. Statements of Operations for the ~~Six~~Nine and the Three Months Ended ~~June~~September 30, 2002 and 2001. Statements of Changes in Partners' Equity for the ~~Six~~Nine and the Three Months Ended ~~June~~September 30, 2002 and 2001. Statements of Cash Flows for the ~~Six~~Nine Months Ended ~~June~~September 30, 2002 and 2001. Note to Financial Statements

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

1. Liquidity - :

The oil and gas industry is intensely competitive in all its phases. There is also competition among this industry and other industries in supplying energy and fuel requirements of industrial and individual consumers. It is not possible for the Registrant to calculate its position in the industry as Registrant competes with many other companies having substantially greater financial and other resources. In accordance with the terms of the Prospectus, the General Partners of the Registrant will make cash distributions of as much of the Partnership cash, credited to the capital accounts of the Partners, as the General Partners have determined is not necessary or desirable for the payment of any contingent debts, liabilities or expenses or for the conduct of the Partnership's business. As of ~~June~~September 30, 2002, the General partners have distributed to the Limited partners $1,402,512 or 9.76%of the total Limited Partner capital contributions to the Limited partners.

InThe ~~accordance~~net ~~with~~proved ~~FASB~~oil ~~Statement~~and ~~No.~~gas ~~69,~~reserves ~~December~~of ~~31, 2001 market prices were determined using~~ the ~~daily~~Partnership ~~oil~~are ~~price~~considered orto ~~daily~~be ~~gas~~a ~~sales~~primary ~~price~~indicator ~~("spot~~of ~~price")~~financial ~~adjusted~~strength ~~for oilfield or gas gathering hub~~ and ~~wellhead~~future ~~price differentials (e~~liquidity.g. ~~grade,~~Reservoir ~~transportation,~~engineering ~~gravity,~~is ~~sulfur,~~a ~~and~~subjective ~~BS&W)~~process asof ~~appropriate. Also,~~estimating inunderground ~~accordance~~accumulations ~~with~~of ~~SEC~~gas and ~~FASB~~oil ~~specifications,~~that ~~changes~~cannot inbe ~~market~~measured ~~prices~~in ~~subsequent~~an toexact ~~December 31, 2001 and December 31, 2000 were not considered~~manner. The ~~spot~~estimated ~~price~~reserve ~~for~~quantities ~~gas~~and atfuture ~~December~~income ~~31,~~quantities ~~2000~~are ~~was~~related ~~$9.23~~to ~~per~~hydrocarbon ~~MMBTU~~prices. Therefore, ~~The~~volumes ~~range~~ of ~~spot~~reserves ~~prices~~actually ~~during~~recovered ~~the~~and ~~year~~amounts ~~2000 was a low~~ of ~~$2.14~~income ~~and~~actually areceived ~~high~~may ofdiffer ~~$10.50~~significantly ~~and~~from the ~~average~~estimated ~~was~~quantities ~~$4.28.~~presented ~~The~~in ~~spot~~this ~~price for gas at December 31, 2001 was $2~~report.~~63 per MMBTU. The range of spot prices during~~

~~the~~In ~~year~~accordance ~~2001~~with ~~was~~FASB aStatement ~~low~~No. of69, ~~$1.77~~December ~~and~~31 amarket ~~high~~prices ofwere ~~$10.29~~determined ~~and~~using the ~~average~~daily ~~was~~oil ~~$3.94.~~price ~~The~~or ~~Partnership~~daily ~~actually~~gas ~~received~~sales anprice ~~average~~("spot price") adjusted for oilfield or gas ~~sold~~gathering ofhub $5and wellhead price differentials (e.93g. ~~during~~grade, ~~the~~transportation, ~~first~~gravity, ~~six~~sulfur, ~~months~~and ofBS&W) ~~2001~~as appropriate. Also, ~~The~~in ~~range~~accordance ~~during~~with ~~the~~SEC ~~first~~and ~~half~~FASB ofspecifications, ~~2002~~changes ~~has~~in ~~been~~market ~~from~~prices ~~$1.98~~ subsequent to ~~$3.70 with~~ anDecember ~~average~~31, of2001 $2and December 31, 2000 were not considered.~~96.~~ The ~~recent~~spot ~~futures~~price ~~market~~for ~~prices~~gas ~~have~~at ~~been~~December in31, ~~the~~2000 was $29.8923 ~~range~~per MMBTU. The range of spot prices

<page> 3>

during the year 2000 was a low of $2.14 and a high of $10.50 and the average was $4.28. The spot price for gas at December 31, 2001 was $2.63 per MMBTU. The range of spot prices during the year 2001 was a low of $1.77 and a high of $10.29 and the average was $3.94. The Partnership actually received an average price for gas sold of $3.36 during the first nine months of 2002. The range during the first three quartersof 2002 has been from $1.98 to $4.10 with an average of $3.18. The recent futures market prices have been in the $3.94 range.

The present value of unescalated future net revenue (S.E.C. case) associated with such reserves, discounted at 10% as of December 31, 2001 was approximately $788,035 as compared to December 31, 2000, of about $4,363,671. While it may reasonably be anticipated that the prices received by Sterling Gas Drilling Fund 1982 for the sale of its production may be higher or lower than the prices used in this evaluation, as described above, and the operating costs relating to such production may also increase or decrease from existing levels, such possible changes in prices and costs were, in accordance with rules adopted by the SEC, omitted from consideration in making this evaluation for the SEC case. Actual volumes produced, prices received and costs incurred by the partnership may vary significantly from the SEC case

2. Capital Resources -:

The Registrant was formed for the sole intention of drilling oil and gas wells. The Registrant entered into a drilling contract with an independent contractor in December 1982 for $11,400,000. Pursuant to the terms of this contract, fifty-one wells have been drilled resulting in fifty producing wells and one dry hole. The Registrant has had a reserve report prepared which details reserve value information, and such information is available to the Limited Partners pursuant to the buy-out provisions of the Prospectus as previously filed.

During 2002, PrimeEnergy Management negotiated a Farmout Agreement with Ardent Resources Inc. covering leasehold interests in acres located in Calhoun County, West Virginia. Pursuant to this agreement, Ardent has the right but not the obligation to select acreage and drill a deep well on the selected acreage, subject to an overriding royalty interest due to the leasehold owners. If a test well is not spudded by February 13, 2005 this agreement terminates. Acerage held by Sterling ~~Gas~~ Drilling Fund 1982 was included in the Farmout Agreement, PrimeEnergy Management may discuss the possibility of farming out additional deep rights held by the Partnership under the same terms with other parties, however, there is no guarantee that any agreement will be entered into.

3. Results of Operations -:

The Partnership experienced ~~reduced~~a minor decrease in gas produced and a slight increase in oil ~~production~~produced, from 3858,~~018~~294 MCF and ~~483~~902 BBLS in 2001 to 3557,~~871~~384 MCF and ~~445~~1,031 BBLS in 2002. The ~~production volume variations can be a result of changes in transportation line pressures, miscellaneous shut-ins for maintence and natural declines. The~~ average prices changed from $5.9349 per MCF and $2423.0472 per barrel in 2001 to $3.2036 per MCF and $1820.2848 BBLS in 2002. ~~Overall~~ ~~operating revenue declined from $237,131 in 2001 to $122,936 in as a direct result of the lower price and production received for both gas and oil sold.~~ Some of the Partnership's gas sold was sold under a new contract starting in December 2001. The Partnership was paid based upon monthly spot market prices through May 2002 production. The General ~~Partner's~~ Partners elected to sell a substaintial portion of the gas delivered under this contract from June 2002 through October 2002 at a fixed price of $3.57 per MMBTU subject to transportation costs. The ~~average price~~lower ~~per~~prices ~~MCF~~received for ~~the~~gas ~~first~~production through ~~quarter 2002 was only $2.61 as compared to the six months~~ most of ~~2002 when~~ the ~~average~~reported ~~price~~period ~~increased~~significantly ~~over~~reduced ~~fifty-nine~~operating ~~cents per MCF. Production expenses decreased to $56,867 in 2002~~ revenues from $~~124~~341,~~929~~182 in 2001. ~~The~~to ~~production expenses include variable costs associated with volume changes~~$214,155 ~~repairs~~in ~~and labor costs associated with the wells and well sites. Production expenses, during~~ 2002~~, were a result of normal maintenance, upkeep of the wells and well sites and lower variable production cost~~. ~~During 2001 some additional maintenance was performed at various sites, which included small tools and supplies purchased, electrical work,~~

The Partnership's other income is a result of a cash bonus paid to the ~~Partnership~~partnership under ~~the~~a farmout agreement,. The ~~previously~~farmout ~~discussed~~agreement allow a third party the right to drill a deep well on leasehold acerage owned by the Partnership. If the third party exercises their rights the Partnership could receive an overriding royalty interest. The total of the cash bonus for the year 2002 paid to the Partnership is $77,827.

~~General~~Production ~~and administrative~~ expenses ~~have~~decreased ~~been~~from ~~segregated~~from on$177,093 ~~the~~in ~~financial~~2001 ~~statements~~ to ~~reflect expenses paid to PrimeEnergy Management Corporation~~$114,458 ain ~~general partner~~2002. ~~These~~The production expenses ~~are~~include ~~charged~~variable incosts ~~accordance~~associated with ~~guidelines~~volume ~~set~~changes, ~~forth~~repairs ~~in the Registrant's Management Agreement~~ and ~~are~~labor ~~attributable~~costs toassociated ~~the~~with ~~affairs and operations of~~ the ~~Partnership~~wells and ~~shall~~well ~~not~~sites. ~~exceed~~Production anexpenses, ~~annual~~during ~~amount~~both ~~equal~~years towere 5%incurred ~~of the Limited Partners capital contributions.~~for ~~Amounts~~normal ~~related~~maintenance ~~to both 2002~~ and ~~2001~~upkeep ~~are~~of ~~substantially less than~~ the ~~amounts~~wells ~~allocable~~and towell ~~the~~sites ~~Registrant under the Partnership Agreement~~. ~~Management~~ ~~continues to work on reducing third party costs and use in-house resources to provide efficient and timely services to the Partnership~~

~~The~~General ~~Partnership~~and ~~records~~administrative ~~additional~~expenses ~~depreciation,~~have ~~depletion~~been ~~and~~segregated ~~amortization~~on the financial statements to ~~the~~reflect ~~extent~~expenses ~~that~~paid ~~net~~to ~~capitalized~~PrimeEnergy ~~costs~~Management ~~exceed~~Corporation, a general partner. These expenses are charged in accordance with guidelines set forth in the ~~undiscounted~~Registrant's ~~future~~Management ~~net~~Agreement ~~cash~~and ~~flows~~are attributable to the ~~Partnership~~affairs ~~properties.~~and ~~The~~operations of the Partnership ~~was~~and shall not ~~required~~exceed an annual amount equal to ~~revise~~5% of the ~~property~~Limited ~~basis~~Partners incapital ~~either~~contributions. Amounts related to both 2001 orand 2002. ~~Depletion,~~are ~~depreciation~~substantially ~~and~~less ~~amortization~~than ~~expense~~the ~~was~~amounts ~~consistent~~allocable ~~with~~to the ~~current~~Registrant ~~property~~under ~~basis~~the Partnership Agreement. Management continues to work on reducing third party costs and ~~the~~use ~~rates~~in-house ~~applied.~~resources to provide efficient and timely services to the Partnership

The Partnership records additional depreciation, depletion and amortization to the extent that net capitalized costs exceed the undercounted future net cash flows attributable to the Partnership properties. The Partnership was not required to revise the property basis in either 2001 or 2002. Depletion, depreciation and amortization expense was consistent with the current property basis and the rates applied.

PART II

Items 1 through 5 have been omitted in that each item is either Inapplicable or the answer is negative.

Item 6: Exhibits and Reports on Form 8-K

(a) Exhibit 99: Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 Of The Sarbanes-Oxley Act of 2002

(b)Form 8-K: The Partnership was not required to file any reports on Form 8-K and no such form was filed during the period covered by this report.

<page>5

S I G N A T U R E S

Pursuant to the requirements of Section 13 or 15 (d) of the Securities and Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

STERLING GAS DRILLING FUND 1982 (Registrant) BY: /S/ Charles E. Drimal Jr. Charles E. Drimal, Jr. General Partner ~~August~~November 98, 2002 (Date)

<page> 6

STERLING DRILLING FUND 1982

(A New York Limited Partnership)

Balance Sheets

		June 30, 2002		December 31, 2001
		September 30, 2002		December 31, 2001
		(unaudited)		(audited)
Assets
Current Assets:
Cash and cash equivalents	$	92108,~~282~~715	$	24,038
Due from affiliates		27,594		26,507
Due from others		30,051		26,507
Due from others		0		0
		----------------		-------------------
		-----------------		--------------
Total current assets		138,766		50,545
Total current assets		119,876		50,545
		----------------		-------------------
		-----------------		--------------
Oil and Gas properties - successful efforts method:
Leasehold costs		466,804		466,804
Well and related facilities		11,970,091		11,970,091
less accumulated depreciation, depletion and
amortization		(11,868,063)		(11,851,977)
Amortization		(11,876,105)		(11,851,977)
		-----------------		--------------
		----------------		-------------------
Total Oil and Gas Properties		~~568~~560,~~832~~790		584,918
		-----------------		---------------
		----------------		-------------------
Total assets	$	~~688~~699,~~708~~556	$	635,463
		==========		===========
Liabilities and Partners' Equity
Current liabilities:
Due to affiliates	$	~~2,420~~0	$	0
		----------------		---------------
		-----------------		-------------------
Total current liabilities		~~2,420~~0		0
		----------------		------------------
		-----------------		-------------------
Partners' Equity
Limited partners		~~899~~909,~~712~~734		859,261
General partners		(~~213~~210,~~424~~178)		(223,798)
		----------------		--------------
		-----------------		-------------------
Total partners' equity		~~686~~699,~~288~~556		635,463
		----------------		-----------------
		-----------------		-------------------
Total liabilities and partners' equity	$	~~688~~699,~~708~~556	$	635,463
		=========		==========
		==========		===========

See accompanying footnote to the financial statements

<page> 7

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Operations

(unaudited)

~~Six~~Nine Months Ending ~~June~~September 30, 2002

		Limited Partners		General Partners		Total
Revenue:
Operating revenue	$	~~103~~180,~~451~~211	$	1933,~~485~~944	$	~~122~~214,~~936~~155
Other income		5164,~~929~~804		912,~~781~~206		6177,~~710~~010
Interest income		~~474~~809		58		~~479~~817
		--------------		--------------		--------------
		-------------		-------------		-------------
Total Revenue		~~155~~245,~~854~~824		2946,~~271~~158		~~185~~291,~~125~~982
		--------------		--------------		--------------
		-------------		-------------		-------------
Costs and Expenses:
Production expense		4796,~~854~~316		918,~~013~~142		56114,~~867~~458
General and administrative to a related party		4263,~~412~~617		711,~~988~~983		5075,~~400~~600
General and administrative		911,~~213~~531		12,~~735~~172		1013,~~948~~703
Depreciation, depletion and amortization		1523,~~924~~887		~~161~~241		1624,~~085~~128
		--------------		--------------		--------------
		-------------		-------------		-------------
Total Costs and Expenses		~~115~~195,~~403~~351		1832,~~897~~538		~~134~~227,~~300~~889
		--------------		--------------		--------------
		-------------		-------------		-------------
Net Income (Loss)	$	40,451	$	10,374	$	50,825
Net Income	$	50,473	$	13,620	$	64,093
		========		========		========
Net Income (Loss) per Equity unit	$	2.81
Net Income per Equity unit	$	3.51
		========

See accompanying footnote to the financial statements

<page> 8

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Operations

(unaudited)

~~Six~~Nine Months Ending ~~June~~September 30, 2001

		Limited Partners		General Partners		Total
Revenue:
Operating revenue	$	~~199~~287,~~546~~105	$	3754,~~585~~077	$	~~237~~341,~~131~~182
Other income		55,322		559		55,881
		--------------		--------------		--------------
Interest income		0		0		0
Total Revenue		254,868		38,144		293,012
		-------------		-------------		-------------
		--------------		--------------		--------------
Total Revenue		342,427		54,636		397,063
		-------------		-------------		-------------
Costs and Expenses:
Production expense		~~105~~149,~~128~~192		1928,~~801~~101		~~124~~177,~~929~~293
General and administrative to a related party		4263,~~412~~617		711,~~988~~983		5075,~~400~~600
General and administrative		610,~~620~~776		12,~~247~~030		712,~~867~~806
Depreciation, depletion and amortization		1522,~~165~~748		~~153~~230		1522,~~318~~978
		--------------		--------------		--------------
		-------------		-------------		-------------
Total Costs and Expenses		~~169~~246,~~325~~333		2942,~~189~~344		~~198~~288,~~514~~677
		--------------		--------------		--------------
		-------------		-------------		-------------
Net Income(Loss)	$	85,543	$	8,955	$	94,498
Net Income	$	96,094	$	12,292	$	108,386
		========		========		========
Net Income(Loss) per equity unit	$	5.95
Net Income per equity unit	$	6.69
		=======
		========

See accompanying footnote to the financial statements

<page> 9

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Operations

(unaudited)

Three Months Ending ~~June~~September 30, 2002

		Limited Partners		General Partners		Total
Revenue:
Operating revenue	$	6376,~~162~~760	$	1114,~~896~~459	$	7591,~~058~~219
Other income		012,875		02,425		015,300
Interest income		~~330~~335		43		~~334~~338
		-------------		-------------		-------------
		------------		------------		------------
Total Revenue		6389,~~492~~970		1116,~~900~~887		75106,~~392~~857
		-------------		-------------		-------------
		------------		------------		------------
Costs and Expenses:
Production expense		2148,~~729~~462		49,~~092~~129		2557,~~821~~591
General and administrative to a related party		21,~~206~~205		3,~~994~~995		25,200
General and administrative		52,~~971~~318		~~1,124~~437		72,~~095~~755
Depreciation, depletion and amortization		7,~~961~~963		8180		8,~~042~~043
		-------------		-------------		-------------
		------------		------------		------------
Total Costs and Expenses		5679,~~867~~948		913,~~291~~641		6693,~~158~~589
		-------------		-------------		-------------
		------------		------------		------------
Net Income (Loss)	$	6,625	$	2,609	$	9,234
Net Income	$	10,022	$	3,246	$	13,268
		=======		=======		=======
Net Income (Loss) per equity unit	$	.46
Net Income per equity unit	$	0.70
		=======

See accompanying footnote to the financial statements

<page> 10

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Operations

(unaudited)

Three Months Ending ~~June~~September 30, 2001

		Limited Partners		General Partners	~~General Partners~~	Total		~~Total~~
Revenue:
Operating revenue	$	9887,~~563~~559	$	16,492	~~18,565~~$	104,051	$	~~117,128~~
Other income		~~55,322~~0		0		~~559~~0			~~55,881~~
		-------------			-------------			-------------
Interest income		0		0		0
Total Revenue		153,885			19,124			173,009
		------------		------------		------------
		-------------			-------------			-------------
Total Revenue		87,559		16,492		104,051
Costs and Expenses:
		------------		------------		------------
Production expense		51,486			9,697			61,183
Costs and Expenses:
General and administrative to a related party		21,206			3,994			25,200
Production expense		44,064		8,300		52,364
General and administrative		2,822			532			3,354
General and administrative to a related party		21,205		3,995		25,200
Depreciation, depletion and amortization		7,583			76			7,659
General and administrative		4,156		783		4,939
		-------------			-------------			-------------
Depreciation, depletion and amortization		7,583		77		7,660
Total Costs and Expenses		83,097			14,299			97,396
		------------		------------		------------
		-------------			-------------			-------------
Total Costs and Expenses		77,008		13,155		90,163
Net Income (Loss)	$	70,788	$		4,825		$	75,613
		------------		------------		------------
		=======			=======			=======
Net Income	$	10,551	$	3,337	$	13,888
Net Income (Loss) per equity unit	$	4.93
		=======		=======		=======
		=======
Net Income per equity unit	$	0.73
		========

See accompanying footnote to the financial statements

<page> 11

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Changes in Partners' Equity

(unaudited)

~~Six~~Nine Months Ending ~~June~~September 30, 2002

		Limited Partners	General Partners		~~General Partners~~Total					~~Total~~
Balance at beginning of period	$	859,261	$(223,798)	$	~~(223~~635,~~798)~~463			$		~~635,463~~
Net Income(Loss)		40,451			10,374					50,825
Net income		50,473	13,620		64,093
		-------------			-------------					-------------
		------------	------------		------------
Balance at end of period	$	~~899~~909,~~712~~734	(210,178)	$	~~(213~~699,~~424)~~556			$		~~686,288~~
		========			========					========
		=======	=======		=======
							Six Months Ending June 30, 2001
		Limited Partners				General Partners					Total
Balance at beginning of period	$	745,531	$			(251,215)			$		494,316
Net Income(Loss)		85,543				8,955					94,498
		-------------				-------------					-------------
Balance at end of period	$	831,074				(242,260)			$		588,814
		========				========					========

Nine Months Ending

September 30, 2001

		Limited Partners	General Partners		Total

Balance at beginning of period	$	745,531	(251,215)	$	494,316
Net income		96,094	12,292		108,386
		------------	------------		------------
Balance at end of period	$	841,625	(238,923)	$	602,702
		=======	=======		=======

See accompanying footnote to the financial statements

<page> 12

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Changes in Partners' Equity

(unaudited)

Three Months Ending ~~June~~September 30, 2002

		Limited Partners		~~Limited~~General Partners		Total				~~General Partners~~				~~Total~~
Balance at beginning of period	$	899,712	$	~~893~~(213,~~087~~424)	$	686,288		$		~~(216,033)~~		$		~~677,054~~
Net Income(Loss)				6,625						2,609				9,234
Net Income		10,022		3,246		13,268
				-------------						-------------				-------------
		-----------		-----------		-----------
Balance at end of period	$	909,734		~~899~~(210,~~712~~178)	$	699,556		$		~~(213,424)~~		$		~~686,288~~
				========						========				========
		=======		=======		=======
						Three Months Ending June 30, 2001
			Limited Partners						General Partners				Total
Balance at beginning of period		$	760,286				$		(247,085)		$		513,201
Net Income(Loss)			70,788						4,825				75,613
			-------------						-------------				-------------
Balance at end of period		$	831,074				$		(242,260)		$		588,814
			========						========				========

Three Months Ending

September 30, 2001

		Limited Partners		General Partners		Total

Balance at beginning of period	$	831,074	$	(242,260)	$	588,814
Net Income(Loss)		10,551		3,337		13,888
		-----------		-----------		-----------
Balance at end of period	$	841,625		(238,923)	$	602,702
		=======		=======		=======

See accompanying footnote to the financial statements

<page> 13

STERLING DRILLING FUND 1982

(a New York Limited Partnership)

Statement of Cash Flows

(unaudited)

		Six months Ended June 30, 2002		Six months Ended June 30, 2001
		Nine months Ended September 30, 2002		Nine months Ended September 30, 2001
Net cash provided by operating activities	$	6884,~~244~~677	$	1198
		---------------		---------------
Net increase(decrease) in cash and cash equivalents		68,244		1
Cash Flows from investing activities:
Investment in wells and related facilities		0		(200)
		---------------		---------------
Net Cash used in investing activities		0		(200)
		----------------		----------------
Net increase(decrease) in cash and cash equivalents		84,677		(2)
Cash and cash equivalents at beginning of period		24,038		3
		---------------		---------------
Cash and cash equivalents at end of period	$	92108,~~282~~715	$	61
		=========		=========

See accompanying footnote to the financial statements

<page> 14

STERLING GAS DRILLING FUND 1982

(a New York limited partnership)

Note to Financial Statements

~~June~~September 30, 2002

1. The accompanying statements for the period ending ~~June~~September 30, 2002 are unaudited, but reflect all adjustments necessary to present fairly the results of operations.

Filing Compare · STERLING GAS DRILLING FUND 1982