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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2002

Commission File Number 333-93399

REEF GLOBAL ENERGY VENTURES
(Exact name of registrant as specified in its charter)

Nevada (State or other jurisdiction of incorporation or organization)		To Be Applied For (I.R.S. employer identification no.)
1901 N. Central Expressway, Suite 300 Richardson, Texas 75080 (Address of principal executive offices, including zip code)		(972) 437-6792 (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 ý No o

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

There are no financial statements of the registrant because the registrant is a series of up to ten limited partnerships to be formed. As of the date of this filing, none of the partnerships has been formed.

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

The registrant is a series of up to ten limited partnerships (collectively, the "Partnerships") to be formed to drill and own interests in oil and natural gas properties around the world. Reef Partners LLC will be the managing general partner of each partnership.

As of the date of this filing, none of the partnerships had been formed; therefore, we have no financial condition or results of operations to report.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

The Partnerships have not yet been formed and currently have no indebtedness or income from foreign sources that would subject them to market risk. The Partnerships will not engage in commodity futures trading or hedging activities and will not enter into derivative financial instrument transactions for trading or other speculative purposes. The Partnerships also will not engage in interest rate swap transactions that could expose them to market risk. However, to the extent that changes in interest rates and currency exchange rates affect general economic conditions, the Partnerships would be affected by such changes.

SIGNATURES

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

	REEF GLOBAL ENERGY VENTURES (Registrant)
	By:	Reef Partners LLC, a Nevada limited liability company
Dated: August 14, 2002	By:	/s/ MICHAEL J. MAUCELI Michael J. Mauceli Manager and Member (Principal Executive Officer)
Dated: August 14, 2002	By:	/s/ DANIEL C. SIBLEY Daniel C. Sibley General Counsel and Chief Financial Officer (Principal Financial and Accounting Officer)

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PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

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

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

SIGNATURES

REEF GLOBAL ENERGY VENTURES 10-Q