SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 10-Q

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

~~FOR~~þ ~~THE~~ QUARTERLY ~~PERIOD~~REPORT ~~ENDED~~PURSUANT ~~JUNE~~TO ~~30,~~SECTION ~~2004~~ 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

ORFOR THE QUARTERLY PERIOD ENDED September 30, 2006

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ~~SECURITIESEXCHANGE~~SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO .

Commission File No. 333-75814

Hanover Equipment Trust 2001A

(Exact name of registrant as specified in its charter)

Delaware		51-6523441
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)
c/o Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware		19890
(Address of Principal Executive Offices)		(Zip Code)

(302) 651-1000
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant: (1) has filed all reports 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 þ No o

AsIndicate ofby ~~July 30,~~check ~~2004,~~mark nowhether ~~common~~the ~~equity~~registrant ~~securities~~is ofa ~~Hanover~~large ~~Equipment~~accelerated ~~Trust 2001A~~file, ~~(the~~an ~~“Registrant”)~~accelerated ~~were~~filer, ~~held by~~ or non-~~affiliates~~accelerated ~~of the Registrant~~filer. ~~The Registrant~~See isdefinition aof ~~special~~“accelerated ~~purpose~~filer ~~Delaware~~and ~~business~~large ~~trust~~accelerated ~~and~~filer” ~~its~~in ~~sole equity~~Rule ~~certificate~~12b-2 ~~holder~~of isthe ~~General~~Exchange ~~Electric~~Act. ~~Capital~~(Check ~~Corporation.~~one):

~~Indicate~~Large ~~by check mark whether the registrant is an~~ accelerated filer ~~(as defined~~o Accelerated infiler ~~Rule 12b~~o Non-2accelerated offiler ~~the Exchange Act). Yes o No~~ þ

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

As of October 31, 2006, no common equity securities of Hanover Equipment Trust 2001A (the “Registrant”) were held by non-affiliates of the Registrant. The Registrant is a special purpose Delaware business trust and its sole equity certificate holder is General Electric Capital Corporation.

TABLE OF CONTENTS

	~~Page~~	Page
PART I FINANCIAL INFORMATION	3
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements	3
Item 1. Financial Statements			3
BALANCE SHEET	3
Condensed Balance Sheets			3
STATEMENT OF INCOME	4
Condensed Statements of Operations			4
STATEMENT OF CASH FLOWS	5
Condensed Statements of Cash Flows			5
NOTES TO CONDENSED FINANCIAL STATEMENTS	6
Notes to Condensed Financial Statements			6
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	8
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			9
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk	12
Item 3. Quantitative and Qualitative Disclosures about Market Risk			13
ITEM 4. Controls and Procedures	12
Item 4. Controls and Procedures			13
PART II OTHER INFORMATION	13
PART II. OTHER INFORMATION
ITEM 6: Exhibits and Reports on Form 8-K	13
Item 1A: Risk Factors			14
SIGNATURES	14
Item 6: Exhibits			14
EXHIBIT INDEX	15
SIGNATURES			15
Certification pursuant to Section 302
EXHIBIT INDEX			16
Certification pursuant to Section 906
Certification Pursuant to Rule 13a-14(a) / 15d-14(a)
Certification Pursuant to Section 1350

PART I. FINANCIAL INFORMATION

~~ITEM~~ Item 1. Financial Statements

HANOVER EQUIPMENT TRUST 2001A ~~BALANCE SHEET (in thousands)~~

	June 30,		December 31,
	2004		2003
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—
Accounts receivable—rents		8,629		8,615
Total current assets		8,629		8,615
Rental equipment		309,300		309,300
Total assets	$	317,929	$	317,915
LIABILITIES AND CERTIFICATE HOLDER’S EQUITY
Current liabilities:
Accrued liabilities	$	59	$	42
Interest payable		8,500		8,500
Equity certificate yield payable		70		73
Total current liabilities		8,629		8,615
Notes payable		300,000		300,000
Total liabilities		308,629		308,615
Commitments and contingencies (Note 3)
Certificate holder’s equity:
Equity certificates		9,300		9,300
Trust earnings (deficit)		—		—
Certificate holder’s equity		9,300		9,300
Total liabilities and certificate holder’s equity	$	317,929	$	317,915

CONDENSED BALANCE SHEETS
(in thousands)

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


	September 30,		December 31,
	2006		2005
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—
Accounts receivable—rents		1,036		3,907

Total current assets		1,036		3,907
Rental equipment		137,123		137,123

Total assets	$	138,159	$	141,030

LIABILITIES AND CERTIFICATE HOLDER’S EQUITY
Current liabilities:
Accrued liabilities	$	48	$	62
Interest payable		942		3,768
Equity certificate yield payable		46		77

Total current liabilities		1,036		3,907
Notes payable		133,000		133,000

Total liabilities		134,036		136,907

Commitments and contingencies (Note 5)
Certificate holder’s equity:
Equity certificates		4,123		4,123
Accumulated trust earnings		—		—

Certificate holder’s equity		4,123		4,123

Total liabilities and certificate holder’s equity	$	138,159	$	141,030

3The accompanying notes are an integral part of these condensed financial statements.

~~Table of Contents~~3

HANOVERTable EQUIPMENTof TRUST 2001A STATEMENT OF INCOME (unaudited) (in thousands) Contents

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2004		2003		2004		2003
Rental revenue	$	6,614	$	6,646	$	13,229	$	13,894
Interest expense on rental equipment		6,375		6,375		12,750		13,359
Excess rental revenue over interest expense on rental equipment		239		271		479		535
Operating expense		26		57		53		106
Net income	$	213	$	214	$	426	$	429

HANOVER EQUIPMENT TRUST 2001A

~~The~~CONDENSED ~~accompanying~~STATEMENTS ~~notes~~OF ~~are an integral part of these condensed financial statements.~~OPERATIONS (unaudited) (in thousands)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2006		2005		2006		2005
Rental revenue	$	2,987	$	13,579	$	8,946	$	26,876
Interest expense on rental equipment		2,826		5,980		8,479		18,730
Debt extinguishment costs		—		7,318		—		7,318

Excess rental revenue over interest expense on rental equipment		161		281		467		828
Operating expense		21		25		64		70

Net income	$	140	$	256	$	403	$	758

~~Table~~The accompanying notes are an integral part of ~~Contents~~these condensed financial statements.

~~HANOVER EQUIPMENT TRUST 2001A~~4 ~~STATEMENT OF CASH FLOWS (unaudited) (in thousands)~~

	Six Months Ended
	June 30,
	2004			2003
Cash flows from operating activities:
Net income	$	426		$	429
Changes in assets and liabilities
Accounts receivable—rents		(14	)		1,046
Interest payable		—			(872	)
Accrued liabilities		17			(158	)
Net cash provided by operating activities		429			445
Cash flows from investing activities:		—			—
Net cash used in investing activities		—			—
Cash flows from financing activities
Equity certificates yield paid		(429	)		(445	)
Net cash used in financing activities		(429	)		(445	)
Net increase (decrease) in cash and cash equivalents		—			—
Cash and cash equivalents at beginning of period		—			—
Cash and cash equivalents at end of period	$	—		$	—
Supplemental disclosure of cash flow information:
Interest paid	$	12,750		$	14,231

~~The~~HANOVER ~~accompanying~~EQUIPMENT ~~notes~~TRUST ~~are an integral part of these condensed financial statements.~~2001A

5CONDENSED STATEMENTS OF CASH FLOWS (unaudited) (in thousands)


	Nine Months Ended
	September 30,
	2006			2005
Cash flows from operating activities:
Net income	$	403		$	758
Changes in assets and liabilities Accounts receivable—rents		2,871			7,557
Interest payable		(2,826	)		(7,558	)
Accrued liabilities		(14	)		9

Net cash provided by operating activities		434			766

Cash flows from investing activities:
Proceeds from the sale of property, plant and equipment		—			172,177

Net cash provided by investing activities		—			172,177

Cash flows from financing activities:
Redemption of senior secured notes		—			(167,000	)
Repayment of equity certificates		—			(5,177	)
Equity certificates yield paid		(434	)		(766	)

Net cash used in financing activities		(434	)		(172,943	)

Net change in cash and cash equivalents		—			—
Cash and cash equivalents at beginning of period		—			—

Cash and cash equivalents at end of period	$	—		$	—

~~HANOVER~~The ~~EQUIPMENT~~accompanying ~~TRUST~~notes ~~2001A NOTES~~are TOan ~~CONDENSED~~integral ~~FINANCIAL~~part ~~STATEMENTS~~of these condensed financial statements.

~~1. BASIS OF PRESENTATION~~5

TheTable accompanying unaudited condensed financial statements of Hanover Equipment Trust 2001A (the “Registrant”, “Trust”, “we”, “us” or “our”) included herein have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America are not required in these interim financial statements and has been condensed or omitted. It is the opinion of Wilmington Trust Company, not in its individual capacity but solely as the trustee of the Trust (the “Trustee”), that the information furnished includes all adjustments, consisting only of normal recurring adjustments, which are necessary to present fairly the financial position, results of operations, and cash flows of the Trust for the periods indicated. The financial statement information included herein should be read in conjunction with the financial statements and notes thereto included in the Trust’s Annual Financial Report on Form 10-K for the year ended December 31, 2003. These interim results are not necessarily indicative of results for a full year. Contents

~~Business~~HANOVER EQUIPMENT TRUST 2001A

~~The~~NOTES ~~Trust~~TO isCONDENSED aFINANCIAL Delaware special purpose business trust which was formed in August 2001. The Trust was formed solely to: (1) issue the 8.5% senior secured notes due 2008 (the “Notes”) (see Note 2), (2) execute, deliver and perform the operating agreements to which it is a party, and (3) use the proceeds of the Notes and the related equity certificates to purchase approximately $309 million of natural gas compression equipment from Hanover Compression Limited Partnership (“HCLP”) and certain of its subsidiaries. The equity funding, issuance of the Notes and equipment purchase occurred on August 30, 2001. The Trust leased its natural gas compression equipment back to HCLP under a seven-year operating lease (the “Lease”). In addition to rental payments, HCLP is obligated to pay supplemental rent, costs, taxes, indemnities, and other amounts owing under the operating lease. In addition, HCLP paid the underwriting, legal, accounting and other costs of the transactions for the Trust. In February 2003, the Trust completed a registered offering pursuant to a registration statement on Form S-4 to exchange its 8.5% senior secured notes due 2008 (the “new notes”) for all of its outstanding 8.5% senior secured notes due 2008 (the “old notes”). The exchange offer provided that holders of the old notes would receive $1,000 principal amount of applicable new notes for each $1,000 principal amount of old notes exchanged. The terms of the new notes are identical to the terms of the applicable old notes except that the new notes are freely transferable under the Securities Act of 1933 and do not have any exchange or registration rights. In March 2003, the exchange offer was completed and all of the old notes were exchanged for new notes. Because the dates of these financial statements relate to periods prior to and after the exchange, when we refer to the “Notes” in these notes to financial statements we are referring collectively to the old notes and the new notes, unless otherwise indicated. STATEMENTS

21. ~~Notes~~BASIS ~~Payable~~OF PRESENTATION

~~Notes~~The ~~payable~~accompanying atunaudited ~~June 30~~condensed financial statements of Hanover Equipment Trust 2001A (the “Registrant”, ~~2004~~“Trust”, “we”, “us” or “our”) included herein have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and ~~December 31,~~the ~~2003~~rules ~~consisted~~and regulations of the ~~following~~Securities and Exchange Commission. Certain (information and footnote disclosures normally included in ~~thousands~~financial statements prepared in accordance with accounting principles generally accepted in the United States of America are not required in these interim financial statements and have been condensed or omitted. It is the opinion of Wilmington Trust Company, not in its individual capacity but solely as the trustee of the Trust (the “Trustee”):, that the information furnished includes all adjustments, consisting only of normal recurring adjustments, which are necessary to present fairly the financial position, results of operations, and cash flows of the Trust for the periods indicated. The financial statement information included herein should be read in conjunction with the financial statements and notes thereto included in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2005. These interim results are not necessarily indicative of results for a full year.

~~Senior Secured Notes—fixed rate of 8.5% due September 1, 2008, interest payable semi-annually on March 1 and September 1 $ 300,000~~Business

The ~~Notes~~Trust ~~are~~is ~~obligations~~a ofDelaware ~~the~~special ~~Trust~~purpose ~~and~~business ~~are~~trust ~~collateralized~~which bywas ~~all~~formed ofin ~~the equipment,~~August 2001. ~~rents~~The ~~and~~Trust was ~~supplemental~~formed ~~rents~~solely ~~covered~~to: by(1) issue the ~~Lease~~8.5% Insenior ~~addition,~~secured ~~the Trust’s~~notes ~~obligations~~due ~~under~~2008 (the “Notes”) ~~are~~(see ~~jointly~~Note ~~and severally~~3), ~~guaranteed~~(2) execute, ~~unconditionally~~deliver and onperform athe ~~senior~~operating ~~subordinated~~agreements ~~basis,~~to bywhich ~~Hanover~~it ~~Compressor Company~~is a party, and (~~“Hanover”~~3), use the proceeds ~~ultimate parent company~~ of ~~HCLP,~~the Notes and ~~HCLP~~the ~~for~~related ~~an amount~~equity upcertificates to ~~77.33%~~purchase ofapproximately ~~the~~$309 million ~~aggregate principal balance~~ of natural ~~Notes~~gas ~~outstanding, which~~compression isequipment ~~equal~~from toHanover ~~the~~Compression ~~final~~Limited ~~rent~~Partnership ~~payment~~(“HCLP”) ~~under~~and ~~the~~certain of ~~Lease~~its subsidiaries. IfThe ~~there~~equity isfunding, anissuance ~~event~~ of ~~default under~~ the ~~Lease,~~Notes ~~Hanover~~ and ~~HCLP~~equipment ~~guarantee~~purchase occurred on August 30, ~~jointly~~2001. ~~and~~The ~~severally, on~~Trust aleased ~~senior~~its ~~subordinated~~natural ~~basis,~~gas ~~all~~compression ofequipment ~~the~~back ~~Trust’s~~to ~~obligations~~HCLP under a seven-year operating lease (the ~~Notes~~“Lease”). ~~Hanover~~ ~~unconditionally~~In ~~guarantees~~addition onto arental ~~senior~~payments, ~~subordinated~~HCLP ~~basis~~is ~~all~~obligated ofto ~~HCLP’s~~pay ~~obligations~~supplemental ~~under~~rent, ~~the~~costs, ~~Lease.~~taxes, ~~The~~indemnities, ~~obligations~~and ofother ~~HCLP~~amounts owing under the Lease. ~~are~~In addition, ~~subordinated~~HCLP inis ~~right~~obligated ~~of payment~~ to ~~all~~pay ~~existing~~the ~~and~~underwriting, ~~future~~legal, ~~senior~~accounting ~~indebtedness of~~and ~~HCLP.~~other ~~The~~costs ~~obligations~~ of ~~Hanover~~the ~~and~~transactions for ~~HCLP under~~ the ~~guarantee~~Trust. ~~are subordinated~~The inassets ~~right~~and source of ~~payment~~revenue available to ~~all~~repay ~~existing~~the Notes and ~~future~~satisfy ~~senior~~the ~~indebtedness~~claims of ~~such~~holders ~~guarantor.~~of ~~Each~~the ~~guarantee~~Notes ~~ranks~~are ~~equally~~limited, inas ~~right~~the ofTrust ~~payment~~has ~~with~~no ~~all senior~~assets ~~subordinated~~other ~~debt~~than ~~and~~its ~~senior~~interests toin ~~all~~the equipment ~~subordinated~~leased ~~debt~~to ofHCLP, ~~such~~and ~~guarantor. The~~no ~~estimated~~source ~~fair~~of ~~market~~revenue ~~value~~other ofthan the ~~Notes~~payments ~~was~~under ~~approximately~~the ~~$317 million~~Lease and the ~~$318 million~~Hanover atCompressor ~~June 30,~~Company ~~2004~~(“Hanover”) and ~~December 31,~~HCLP ~~2003, respectively~~guarantees.

62. Rental Equipment

~~Table~~Rental equipment consists of ~~Contents~~domestic gas compression equipment and is recorded at cost. At the time of the initial sale of the Notes, an independent appraisal firm prepared an appraisal of the rental equipment as of August 16, 2001 and as of the end of the Lease term. Due to the terms of the Lease and based solely on the above-described appraisal, management of the Trust believes that the Trust will recover the original cost of the equipment at the end of the Lease. As such, the Trust is not depreciating the rental equipment.

~~All payments that are received by the Trust under the Lease or guarantee will be applied first to the amounts due under the Notes~~3. ~~The payment of principal, premium, if any, and interest on the~~ Notes ~~are senior in right of payment to~~Payable ~~the payment in full of amounts due under the equity certificates.~~

Prior to September 1, 2004, if Hanover raises proceeds from one or more bona fide underwritten sales to the public of Hanover’s common stock and Hanover causes HCLP to repurchase equipment from the Trust, the Trust is required to apply the proceeds it receives to redeem up to 35% of the Notes payable at ~~a redemption price of 108.50% of the principal amount thereof. Otherwise, the Trust does not have the right to redeem the Notes until~~ September 130, ~~2005.~~2006 On and ~~after September~~December 131, 2005, ~~the~~consisted ~~Trust~~of ~~may redeem~~ the ~~Notes,~~following (in ~~whole or in part, if the~~ ~~Trust pays the redemption prices indicated below~~thousands):

	Percentage
After Sept 1, 2005		104.250	%
After Sept 1, 2006		102.125	%
After Sept 1, 2007		100.000	%


Senior Secured Notes-fixed rate of 8.5% due September 1, 2008, interest payable semi-annually on March 1 and September 1		$	133,000

~~The~~During ~~Trust~~September 2005, iswe ~~not~~sold ~~affiliated~~to ~~with~~HCLP ~~Hanover~~a orportion ~~HCLP.~~of ~~The~~the ~~indenture~~natural ~~and participation~~gas ~~agreement~~compression ~~governing~~equipment ~~the~~that ~~Notes~~they were ~~contain~~leasing ~~covenants~~from ~~that~~us ~~restrict~~under the ~~Trust’s~~ ~~ability~~seven ~~to,~~year ~~among~~operating ~~other~~lease ~~things:~~for ~~incur~~$172.2 million. ~~liens,~~We ~~incur~~used ~~additional~~the proceeds ~~indebtedness,~~to ~~enter~~redeem ~~any~~$167.0 million ~~other~~of ~~transactions,~~the ~~make~~8.5% ~~investments,~~senior ~~liquidate,~~secured notes due 2008 and ~~engage~~ into ~~non-related~~repay ~~lines~~$5.2 million of ~~business~~the equity certificates. In ~~addition,~~connection with the ~~indenture~~redemption, ~~and~~we were required to pay $7.3 million for ~~participation~~the ~~agreement~~premium ~~governing~~to call the Notes. ~~contain~~As ~~covenants~~of ~~that~~September 30, ~~limit~~2006, there was approximately $137.1 million of ~~Hanover’s~~natural ~~and~~gas ~~HCLP’s~~compression ~~ability~~equipment toremaining ~~engage~~under inour ~~certain~~seven ~~activities~~year ~~and~~operating ~~transactions~~lease with HCLP.

InThe ~~February 2003,~~Notes ~~the~~are ~~Trust~~obligations ~~completed a registered offering pursuant to a registration statement on Form S-4 to exchange its 8.5% senior secured notes due 2008 for all~~ of ~~its outstanding old notes. The terms of~~ the ~~new~~Trust ~~notes~~and are ~~identical~~ tocollateralized ~~the~~by ~~terms~~all of the ~~old~~equipment, ~~notes~~rents ~~except that the new notes are freely transferable under the Securities Act~~ and ~~do not have any exchange or~~ ~~registration~~supplemental ~~rights.~~rents ~~Because~~covered ~~the~~by ~~exchange offer was not completed within~~ the ~~specified~~ ~~time~~Lease. ~~frame~~In addition, the Trust’s ~~received~~obligations ~~additional~~under ~~rent in~~ the ~~amount~~Notes ofare ~~approximately~~jointly ~~$58,000 per week~~ and ~~was~~severally ~~required~~guaranteed, tounconditionally ~~pay this amount as additional interest to the holders of the Notes. The additional rental income~~ and ~~interest expense began accruing~~ on ~~January 28,~~a ~~2002~~senior ~~and~~subordinated ~~ended on March 13~~basis, ~~2003~~ ~~when~~by ~~the exchange offer was completed. For the six months ended June 30~~Hanover, ~~2003~~ the ~~Trust~~ultimate ~~recognized~~parent ~~approximately~~company ~~$609,000~~of ~~in additional rental income and interest expense. In March 2003~~HCLP, ~~the exchange offer was completed~~ and ~~all of~~HCLP ~~the old notes were exchanged~~ for ~~new notes.~~

~~3. Commitments and Contingencies~~6

InTable the ordinary course of business the Trust may be involved in various pending or threatened legal actions. The Trust is not currently involved in any material litigation or proceeding and is not aware of any such litigation or proceeding threatened against it. The Trust has no other commitments or contingent liabilities which, in the judgment of the Trustee, would result in losses that would materially affect the Trust’s financial position, operating results or cash flows. Contents

4an amount up to 77.33% ~~New~~of ~~Accounting~~the ~~Standards~~aggregate principal balance of the Notes outstanding, which is equal to the final rent payment under the Lease. If there is an event of default under the Lease, Hanover and HCLP guarantee, jointly and severally, on a senior subordinated basis, all of the Trust’s obligations under the Notes. Hanover unconditionally guarantees on a senior subordinated basis all of HCLP’s obligations under the Lease. The obligations of HCLP under the Lease are subordinated in right of payment to all existing and future senior indebtedness of HCLP. The obligations of Hanover and HCLP under the guarantee are subordinated in right of payment to all existing and future senior indebtedness of such guarantor. Each guarantee ranks equally in right of payment with all senior subordinated debt and senior to all subordinated debt of such guarantor. The estimated fair market value of the Notes was approximately $135 million and $138 million at September 30, 2006 and December 31, 2005, respectively.

InAll ~~January 2003,~~payments ~~the~~that ~~FASB issued FIN 46. The primary objectives of FIN 46~~ are to ~~provide~~received ~~guidance~~by on the ~~identification~~Trust ofunder ~~entities for which control is achieved by means other than through voting rights and~~ the ~~determination~~Lease ~~of when~~or ~~and which business enterprise should consolidate~~ the ~~variable~~guarantee ~~interest entity~~will ~~(“VIE”)~~be inapplied ~~its financial statements. FIN 46 applies~~ first to ~~an entity in which either (1)~~ the ~~equity~~amounts ~~investors~~due ~~(if~~under ~~any) do not have a controlling financial interest or (2)~~ the ~~equity investment at risk is insufficient to finance that entity’s activities without receiving additional subordinated financial support from other parties~~Notes. InThe ~~addition,~~payment ~~FIN~~of ~~46 requires that both the primary beneficiary and all other enterprises with a significant variable interest in a VIE make additional disclosures. As revised~~principal, ~~FIN 46 was effective immediately for VIE’s created after January 31~~premium, ~~2003.~~if ~~For special-purposes entities created prior to February 1~~any, ~~2003,~~and ~~FIN~~interest 46on ~~is effective at~~ the ~~first~~ ~~interim~~Notes orare ~~annual~~senior ~~reporting~~in ~~period~~right ~~ending after December 15, 2003, or December 31, 2003 for us. For entities, other than special purpose entities, created prior to February 1, 2003, FIN 46 is effective for us as~~ of ~~March 31,~~payment ~~2004. In addition, FIN 46 allows companies~~ to ~~elect to adopt early~~ the ~~provisions~~payment ofin ~~FIN 46~~full ~~for some, but not all,~~ of ~~the~~amounts ~~variable~~due ~~interest~~under ~~entities they own. The adoption of FIN 46 did not have a material effect on~~ the ~~Trust’s financial~~equity ~~statements~~certificates.

7The Trust did not have the right to redeem the Notes until September 1, 2005. After September 1, 2005, the Trust may redeem the Notes, in whole or in part, if the Trust pays the redemption prices indicated below:


	Percentage
After Sept 1, 2005		104.250	%
After Sept 1, 2006		102.125	%
After Sept 1, 2007		100.000	%

~~ITEM~~The 2.indenture ~~Management~~and participation agreement governing the Notes contain covenants that restrict the Trust’s ~~Discussion~~ability to, among other things: incur liens, incur additional indebtedness, enter into any other transactions, make investments, liquidate, and ~~Analysis~~engage in non-related lines of ~~Financial~~business. ~~Condition~~In addition, the indenture and ~~Results~~participation ofagreement ~~Operations~~governing the Notes contain covenants that limit Hanover’s and HCLP’s ability to engage in certain activities and transactions.

~~DISCLOSURE~~4. ~~REGARDING~~Equity ~~FORWARD-LOOKING STATEMENTS~~Certificates

~~This~~The ~~report~~Trust ~~contains~~raised ~~“forward-looking~~approximately ~~statements”~~$9.3 million ~~intended to qualify for the safe harbors~~ from ~~liability~~equity ~~established~~certificates byissued during the ~~Private~~period ~~Securities Litigation~~from ~~Reform~~August 2, ~~Act~~2001 of(inception) through ~~1995~~December 31, 2001. ~~All~~The ~~statements~~Trust’s ~~other~~equity ~~than~~certificates ~~statements~~were ~~of historical fact~~issued ~~contained~~to inGeneral ~~this~~Electric ~~report~~Capital ~~are~~Corporation ~~forward-looking~~(“GE ~~statements~~Capital”). ~~These~~The ~~forward-looking statements~~original ~~can~~certificate ~~generally~~holder beassigned its ~~identified~~interest asto ~~such~~GE ~~because~~Capital ~~the~~and ~~context~~was ofrepaid ~~the statement~~its ~~will~~capital ~~include~~contribution ~~words~~of ~~such~~$1 asin ~~“believes,”~~August 2001. ~~“anticipates,” “expects,”~~During ~~“estimates,”~~September 2005 orwe ~~words~~redeemed $5.2 million of ~~similar~~equity ~~import,~~certificates. ~~although~~(See ~~some~~Note ~~forward-looking statements~~3.) ~~are~~The ~~expressed~~equity certificate ~~differently.~~holder ~~Statements~~may ~~that~~receive ~~describe~~a ~~future~~return ~~plans, objectives~~of orcapital ~~goals~~payments offor ~~Hanover~~its ~~Equipment~~equity ~~Trust~~investment ~~2001A~~in (the ~~“Registrant,” “~~Trust,” after ~~“we,”~~full ~~“us”~~payment orof ~~“our”)~~the ~~are also forward looking statements~~Notes. ~~You~~The ~~should consider~~Trust ~~these~~will ~~statements~~make ~~carefully~~a ~~because~~quarterly ~~they~~payment ~~describe~~(on ~~our~~the ~~expectations~~first ~~and beliefs~~day ~~concerning future business conditions~~of March, ~~our results of operations~~June, ~~financial~~ ~~position~~September, and ~~our~~December; ~~business~~the ~~outlook~~first orpayment ~~state~~was ~~other~~made ~~“forward-looking” information based~~ on ~~currently~~March 1, ~~available~~2002) ~~information.~~to ~~These forward-looking~~equity ~~statements~~certificate ~~are~~holders ~~subject~~equal to ~~certain~~the ~~risks~~certificate ~~and~~holder ~~uncertainties~~yield ~~applicable~~rate ~~to the Trust~~(13.3% ~~These~~and ~~forward–looking~~12.2% ~~statements~~as ~~are~~of ~~also~~September 30, 2006 ~~subject~~and toDecember 31, ~~certain~~2005, ~~risks~~respectively) ~~and uncertainties~~multiplied ~~applicable~~by tothe ~~Hanover~~aggregate ~~Compression~~outstanding ~~Limited Partnership (“HCLP”),~~certificate toholder ~~which~~contributions. weAs ~~lease all~~ of ~~the~~September 30, ~~equipment~~2006 ~~owned~~and byDecember 31, ~~the~~2005, ~~Trust~~approximately $46,000 and ~~Hanover~~ ~~Compressor~~$77,000, ~~Company (“Hanover”)~~respectively, ~~the~~was ~~ultimate~~payable ~~parent company of HCLP~~ to ~~which (along with HCLP) we look for all of~~ the ~~Trust’s~~certificate ~~revenue~~holder. ~~All~~Equity ofcertificate ~~these~~capital ~~risks~~repayment ~~and~~may ~~uncertainties~~be ~~could~~made ~~cause~~using ~~actual~~proceeds ~~results to differ materially~~ from ~~those anticipated~~sale as of ~~the~~equipment ~~date of this report. The risks and uncertainties related~~ to ~~Hanover’s and~~ HCLP’s ~~businesses~~or, ~~as may be described in more detail in Hanover’s Annual Report~~ on ~~Form 10-K for~~ the ~~year~~expiration ~~ended~~date ~~December 31,~~or ~~2003, and~~earlier ~~HCLP’s~~termination ~~Annual~~of ~~Report on Form 10-K for~~ the ~~year ended December 31~~Lease, ~~2003,~~from ~~and in subsequent filings by Hanover and HCLP with~~ the ~~SEC,~~proceeds ~~could cause our actual results to differ~~ from ~~those~~the ~~described~~final ~~in,~~rent orpayment ~~otherwise~~and ~~projected or implied by,~~ the ~~forward-looking~~sale ~~statements~~of ~~set forth herein~~equipment. ~~The risks and~~ ~~uncertainties include:~~

•5. ~~competition~~Commitments ~~among the various providers of contract compression services; • reduced profit margins or the loss of market share resulting from competition, including pricing pressure in Hanover’s~~ and HCLP’s businesses; • the introduction of competing technologies by other companies; • a prolonged substantial reduction in oil and natural gas prices, which would cause a decline in the demand for HCLP’s compression and oil and natural gas production equipment; • governmental safety, health and environmental regulations which could require Hanover and HCLP to make significant expenditures; • currency fluctuations and changes in interest rates; • changes in economic or political conditions in the countries in which Hanover and HCLP do business; • adverse results in litigation or regulatory proceedings to which Hanover and/or HCLP is a party; • inability of Hanover or HCLP to comply with covenants in or defaults under, their debt agreements and the agreements related to their compression equipment lease obligations and the decreased financial flexibility associated with Hanover’s and HCLP’s substantial debt; • Hanover’s or HCLP’s future ability to refinance existing or incur additional indebtedness to fund Hanover’s and HCLP’s business; • increases in Hanover’s and HCLP’s senior indebtedness, and increases in any indebtedness and other liabilities of Hanover’s and HCLP’s respective subsidiaries, which in each such case are senior to the obligations of Hanover and HCLP under the guarantees; • adverse changes in Hanover’s or HCLP’s credit rating; • legislative changes in the various countries in which Hanover and/or HCLP do business;Contingencies

8In the ordinary course of business the Trust may be involved in various pending or threatened legal actions. The Trust is not currently involved in any material litigation or proceeding and is not aware of any such litigation or proceeding threatened against it. The Trust has no other commitments or contingent liabilities which, in the judgment of the Trustee, would result in losses that would materially affect the Trust’s financial position, operating results or cash flows.

~~Table~~6. ofRecent ~~Contents~~Accounting Pronouncements

•In ~~the current or future value of the equipment may be less than the appraised value~~May 2005, ~~and~~ the ~~proceeds~~Financial ~~realized~~Accounting ~~upon~~Standards ~~the~~Board ~~exercise~~(“FASB”) ofissued ~~remedies~~Statement ~~may not be sufficient to satisfy in full amounts owing on the notes; • Hanover’s or HCLP’s inability to renew its short-term leases~~ of ~~equipment~~Financial Accounting ~~with~~Standards ~~its customers so as to fully recoup the cost of the equipment; • Hanover’s or HCLP’s inability to generate sufficient cash~~No. 154, ~~access~~“Accounting ~~capital~~Changes ~~markets or to incur indebtedness to fund their business; • Losses incurred by Hanover~~ and ~~HCLP~~Error ~~due to inherent risks associated with their operations~~Corrections, ~~including~~a ~~equipment~~replacement ~~defects,~~of ~~malfunctions~~APB Opinion ~~and~~No. 20 ~~failures~~ and ~~natural~~FASB ~~disasters;~~Statement •No. 3” ~~War,~~(“SFAS ~~social~~154”). ~~unrest,~~SFAS ~~terrorist~~154 ~~attacks,~~requires ~~and/or~~retrospective the responses thereto; • Hanover’s and/or HCLP’s inability to successfully integrate acquired businesses; • Hanover’s and/or HCLP’s inability to execute their exit and sale strategy with respect to assets classified on their balance sheet as discontinued operations and held application for ~~sale;~~reporting •a ~~Hanover’s~~change ~~and/or~~in ~~HCLP’s~~accounting ~~inability~~principle toin ~~properly~~the ~~implement~~absence ~~their new enterprise resource planning systems used for integration~~ of ~~their~~explicit ~~accounting,~~transition ~~operations~~requirements specific ~~and information systems; • Hanover’s and/or HCLP’s inability~~ to ~~reduce~~newly ~~debt~~adopted ~~relative~~accounting ~~to their total capitalization; • Changes in federal bankruptcy or tax law~~principles, ~~comparable~~unless ~~state~~impracticable. ~~laws~~Corrections orof ~~accounting~~errors ~~principles;~~will continue ~~and~~to •be ~~Uncertainty~~reported ~~with~~under ~~respect~~SFAS to154 ~~the~~by ~~contingent~~restating ~~note~~prior ofperiods ~~Hanover~~ as ~~a result~~ of the ~~October~~beginning ~~23, 2003 Stipulation and Agreement~~ of ~~Settlement~~the ~~with~~first period ~~a principal amount of $6~~presented.7 ~~million~~SFAS ~~due~~154 ~~with accrued interest on March 31, 2007 unless the note~~ is ~~extinguished~~effective ~~(with~~for noaccounting ~~money~~changes ~~owed~~and ~~under~~corrections ~~it)~~of iferrors ~~Hanover’s~~made ~~common~~in fiscal ~~stock~~years ~~trades~~beginning atafter orDecember 15, ~~above~~2005. ~~the~~The ~~average~~adoption ~~price~~ of ~~$12.25~~SFAS ~~per~~154 ~~share~~did ~~for~~not 15have ~~consecutive~~a ~~trading~~material impact ~~days~~on atour ~~any~~consolidated ~~time~~results ~~between~~of ~~March 31~~operations, ~~2004~~cash ~~and~~flows ~~March~~or ~~31,~~financial ~~2007~~position.

~~All subsequent written and oral forward-looking statements attributable to us~~7 or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. The forward-looking statements included herein are only made as of the date of this report, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

GENERAL Table of Contents

~~The~~In ~~Trust~~February 2006, isthe aFASB ~~Delaware~~issued ~~special~~Statement ~~purpose~~of ~~business~~Financial ~~trust~~Accounting ~~which~~Standards ~~was~~No. 155, ~~formed~~“Accounting for inCertain Hybrid Instruments — an amendment of FASB Statements No. 133 and 140” (“SFAS 155”). ~~August~~SFAS 155 (a) ~~2001~~permits fair value remeasurement for any hybrid financial instrument that contains an embedded derivative that otherwise would require bifurcation, (b) clarifies which interest-only strips and principal-only strips are not subject to the ~~purpose~~requirements of ~~purchasing~~FASB ~~natural~~No. 133, ~~gas~~(c) establishes ~~compression~~a ~~equipment~~requirement ~~and~~to evaluate interests in securitized financial assets to identify ~~leasing~~interests that ~~equipment~~are tofreestanding ~~HCLP~~derivatives ~~under~~or anthat ~~operating~~are ~~lease~~hybrid ~~(the~~financial ~~“Lease”).~~instruments Inthat contain ~~August 2001,~~an ~~the~~embedded ~~Trust~~derivative ~~purchased~~requiring ~~approximately~~bifurcation, ~~$309.3~~(d) ~~million~~clarifies that concentrations of ~~gas~~credit risk in ~~compression~~the ~~equipment~~form ~~from~~of ~~HCLP~~subordination are not embedded derivatives, and ~~its~~(e) amends ~~subsidiaries~~SFAS No. 140 to beeliminate the ~~leased~~prohibition ~~back~~on toa ~~HCLP~~qualifying special-purpose entity from holding a derivative instrument that ~~pursuant~~pertains to ~~the~~a ~~Lease~~beneficial interest other than another derivative financial instrument. ~~The~~SFAS ~~purchase~~155 ~~was~~is effective ~~financed~~for byall financial instruments acquired or issued after the ~~issuance~~beginning of ~~$300~~an entity’s first ~~million~~fiscal ofyear 8that begins after September 15, 2006.~~50%~~ ~~senior~~We ~~secured~~are ~~notes~~currently evaluating the provisions of SFAS 155 and ~~$9.3 million~~do innot ~~equity~~believe ~~investment~~that our adoption will have a material impact on our consolidated ~~from~~results ~~the~~of ~~Trust’s~~operations, ~~equity~~cash ~~certificate~~flows ~~holder~~or financial position.

In ~~February~~September ~~2003~~2006, the ~~Trust~~FASB ~~completed~~issued aStatement ~~registered~~of ~~offering~~Financial ~~pursuant~~Accounting toStandards ~~a registration~~No. 157, ~~statement~~“Fair ~~on Form S-4 to exchange its new notes for all of its~~Value ~~outstanding~~Measurements” ~~old~~(“SFAS ~~notes~~157”). ~~Pursuant~~SFAS to157 ~~the~~provides ~~exchange~~a ~~offer,~~single ~~holders~~definition of ~~the~~fair ~~old notes received $1~~value,~~000~~ ~~principal~~establishes ~~amount~~a framework ~~of applicable new notes~~ for ~~each~~measuring ~~$1,000 principal~~fair ~~amount~~value ofand ~~old~~requires ~~notes~~additional ~~exchanged.~~disclosures ~~The~~about ~~terms of~~ the ~~new~~use ~~notes are identical to the terms~~ of ~~the~~fair ~~applicable old notes except that the new notes~~value ~~are~~to ~~freely~~measure ~~transferable~~assets ~~under the Securities Act of 1933~~ and ~~do not have any exchange or registration rights~~liabilities. ~~The~~SFAS ~~exchange~~157 ~~offer~~is ~~was~~effective ~~completed~~for infinancial ~~March 2003 and~~statements ~~all~~issued ~~of the old notes were exchanged~~ for ~~new notes. References to the~~fiscal ~~“Notes”~~years inbeginning ~~this~~after ~~Management’s~~November 15, ~~Discussion~~2007, and ~~Analysis~~interim ofperiods ~~Financial~~within ~~Condition~~those ~~and Results~~fiscal ofyears. ~~Operations~~We ~~mean~~are currently ~~the~~evaluating ~~old notes and~~ the ~~new~~provisions ~~notes,~~of ~~collectively~~SFAS 157.

~~The assets and source of revenue available to repay the notes and satisfy the~~8 ~~claims of holders of the notes are limited, as the Trust has no assets other than its interests in the equipment leased to HCLP, and no source of revenue other than the payments under the Lease~~

9 Table of Contents

~~Table~~Item 2. Management’s Discussion and Analysis of ~~Contents~~Financial Condition and Results of Operations

~~and~~SPECIAL ~~the~~NOTE ~~Hanover~~REGARDING and HCLP guarantees. The notes are obligations of the Trust only, and are not obligations of Hanover, HCLP or the Trustee. The Trust has no officers, directors or employees. The Trustee relies on receiving accurate information, reports and other representations from Hanover and HCLP in the ordinary course of its duties as Trustee. For information about Hanover and HCLP, the holders of the notes are directed to Hanover’s and HCLP’s Annual Reports on Form 10FORWARD-KLOOKING ~~and other reports and information that Hanover or HCLP has~~STATEMENTS filed, or will file, with the SEC under the Securities Exchange Act of 1934. In executing and submitting this report on behalf of the Trust and with respect to David A. Vanaskey, Jr. in executing the Certifications relating to this report, the Trustee and David A. Vanaskey, Jr. have relied upon the accuracy of such reports, information and representations of Hanover and HCLP.

~~RESULTS~~This OFreport ~~OPERATIONS~~contains “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this report are forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as “believes,” “anticipates,” “expects,” “estimates,” or words of similar import, although some forward-looking statements are expressed differently. Statements that describe future plans, objectives or goals of Hanover Equipment Trust 2001A (the “Registrant,” “Trust,” “we,” “us” or “our”) are also forward looking statements. You should consider these statements carefully because they describe our expectations and beliefs concerning future business conditions, our results of operations, financial position, and our business outlook or state other “forward-looking” information based on currently available information. These forward-looking statements are subject to certain risks and uncertainties applicable to the Trust. These forward–looking statements are also subject to certain risks and uncertainties applicable to Hanover Compression Limited Partnership (“HCLP”), to which we lease all of the equipment owned by the Trust, and Hanover Compressor Company (“Hanover”), the ultimate parent company of HCLP to which (along with HCLP) we look for all of the Trust’s revenue. All of these risks and uncertainties could cause actual results to differ materially from those anticipated as of the date of this report. The risks and uncertainties related to Hanover’s and HCLP’s businesses, as may be described in more detail in Hanover’s Annual Report on Form 10-K for the year ended December 31, 2005, and HCLP’s Annual Report on Form 10-K for the year ended December 31, 2005, and in subsequent filings by Hanover and HCLP with the SEC, could cause our actual results to differ from those described in, or otherwise projected or implied by, the forward-looking statements set forth herein. The risks and uncertainties include:

~~THREE~~• ~~MONTHS~~Hanover ~~ENDED~~and ~~JUNE~~HCLP 30operate in a highly competitive industry that includes competition among the various providers of contract compression services; • reduced profit margins or the loss of market share resulting from competition, ~~2004~~including ~~COMPARED~~pricing TOpressure ~~THREE~~in ~~MONTHS~~Hanover’s ~~ENDED~~and ~~JUNE~~HCLP’s 30businesses; • the introduction of competing technologies by Hanover and HCLP’s competitors; • a prolonged substantial reduction in oil and natural gas prices, ~~2003~~ which would cause a decline in the demand for HCLP’s compression and oil and natural gas production equipment; • governmental safety, health and environmental regulations which could require Hanover and HCLP to make significant expenditures; • currency fluctuations (in countries including but not limited to Italy, Argentina and Venezuela) and changes in interest rates; • adverse results in litigation or regulatory proceedings to which Hanover and/or HCLP is a party; • inability of Hanover or HCLP to comply with the financial and other covenants in or defaults under, their debt agreements and the agreements related to their compression equipment lease obligations which if not cured or waived could have a material adverse effect on Hanover and/or HCLP and the decreased financial flexibility associated with Hanover’s and HCLP’s substantial debt; • Hanover’s and/or HCLP’s inability to implement certain business objectives including international expansion; • Hanover’s and/or HCLP’s inability to timely and cost-effectively execute projects in international operating environments, which includes certain inherent risks in their international business activities including the following:

~~Revenues~~ • unexpected changes in regulatory requirements, • tariffs and other trade barriers that may restrict their ability to enter into new markets, • governmental actions that result in the deprivation of contract rights,

~~The Trust’s rental revenues decreased by $32,000 to $6,614,000 during the three~~9 months ended June 30, 2004 from $6,646,000 during the three months ended June 30, 2003. The decrease resulted primarily from a decrease in additional rents received from HCLP to reimburse the Trust for its operating expenses as required under the Lease.

TheTable Trust’s rental revenue is based primarily on the interest accrued on the notes and the yield payable to the equity certificate holder. The interest rate on the notes is fixed at 8.50% and the amount of interest accrued was $6,375,000 for the three months ended June 30, 2004 and the three months ended June 30, 2003. The yield to the equity certificate holder was $213,000 for the three months ended June 30, 2004 and $214,000 for the three months ended June 30, 2003. The yield payable on the equity certificates will vary depending upon the certificate holder yield rate (9.1% as of June 30, 2004 and 9.2% as of June 30, 2003). Return on the equity certificates accrues at the Eurodollar rate or, in certain circumstances, the prime rate, plus a spread in each case of 7.95% per year. Contents

In• ~~addition,~~changes in political and economic conditions in the ~~Trust~~countries ~~received~~in ~~additional~~which ~~rents~~they operate, including civil uprisings, riots, kidnappings and terrorist acts, particularly with respect to ~~reimburse~~their itoperations in Nigeria, as• ~~required under~~potentially ~~the~~adverse ~~Lease~~tax consequences, ~~for~~• ~~its~~restrictions ~~operating~~on ~~expenses~~repatriation ~~and~~of ~~for~~earnings ~~the~~or ~~costs~~expropriation of ~~the~~property ~~securities registration.~~without ~~These~~fair ~~additional~~compensation, ~~rents~~• ~~amounted~~difficulties toin ~~$26~~establishing new international offices and risks inherent in establishing new relationships in foreign countries,~~000~~ ~~for~~and • the ~~three~~burden ~~months ended~~of ~~June 30,~~complying ~~2004~~with the various laws and ~~$57,000~~regulations ~~for~~in the ~~three~~countries ~~months~~in ~~ended~~which ~~June 30,~~they ~~2003.~~ operate;

~~Expenses~~ • Hanover’s and/or HCLP’s ability to manage business effectively will be weakened if key personnel are lost; • liability for acquired facilities in the past which could subject Hanover and/or HCLP to future environmental liabilities; • Hanover’s or HCLP’s inability to generate the substantial amount of capital needed to expand their compressor rental fleet and their complimentary businesses; • Hanover and HCLP have a substantial amount of debt, including under their compression equipment lease obligations, that could limit their ability to fund future growth and operations and increase their exposure during adverse economic conditions and as a result of having a significant amount of leverage as compared to their total capitalization which could result in a change made in their credit rating or other adverse consequences if Hanover and HCLP do not decrease their leverage; • Hanover’s or HCLP’s inability to renew its short-term leases of equipment with its customers so as to fully recoup the cost of the equipment; • Hanover or HCLP’s inability to generate the significant amount of cash needed to service their debt, to fund working capital and to pay their debts when they become due; • Hanover’s or HCLP’s future ability to refinance existing or incur additional indebtedness to fund Hanover’s and HCLP’s businesses; • losses incurred by Hanover and HCLP due to inherent risks associated with their natural gas operations, including equipment defects, malfunctions and failures and natural disasters; • war, social unrest, terrorist attacks, and/or the responses thereto; • Hanover’s and/or HCLP’s inability to successfully integrate acquired businesses; • risks associated with any significant failure or malfunction of Hanover and HCLP’s enterprise resource planning system; • Hanover’s and/or HCLP’s inability to reduce debt relative to their total capitalization; • Hanover and HCLP are still in the process of improving their infrastructure capabilities, including their internal controls and procedures, which were strained by their rapid growth, to decrease the risk of future accounting and financial reporting problems; and • changes in federal bankruptcy or tax laws, comparable state laws or accounting principles.

~~Interest~~All ~~expense~~subsequent ~~for~~written ~~both~~and ~~the~~oral ~~three~~forward-looking ~~months~~statements ~~ended~~attributable ~~June 30,~~to ~~2004~~us ~~and~~or ~~the~~any ~~three~~person acting ~~months~~on ~~ended~~our ~~June 30,~~behalf ~~2003~~are ~~was~~expressly ~~$6,375,000~~qualified in their entirety by the cautionary statements contained or referred to in this section. The forward-

~~Operating expenses decreased by $31,000 or approximately 54% to $26,000 during~~10 ~~the three months ended June 30, 2004 from $57,000 during the three months ended June 30, 2003. The decrease resulted from reduced legal expenses.~~

SIXTable MONTHSof ENDED JUNE 30, 2004 COMPARED TO SIX MONTHS ENDED JUNE 30, 2003 Contents

~~Revenues~~looking statements included herein are only made as of the date of this report, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

~~The Trust’s rental revenues decreased by $665,000 or approximately 5% to~~GENERAL $13,229,000 during the six months ended June 30, 2004 from $13,894,000 during the six months ended June 30, 2003. The decrease resulted primarily from a decrease in additional rents received from HCLP to reimburse the Trust for penalty interest and a decrease in rents received from HCLP to reimburse the Trust for its operating expenses as required under the Lease.

The Trust’s ~~rental revenue~~ is ~~based~~a ~~primarily~~Delaware onspecial ~~the~~purpose ~~interest~~business ~~accrued~~trust onwhich ~~the notes~~was ~~and~~formed ~~the~~in ~~yield~~August 2001 ~~payable~~for to the ~~equity certificate holder. The interest rate~~ onpurpose ~~the~~of ~~notes~~purchasing isnatural ~~fixed~~gas atcompression ~~8.50%~~equipment and ~~the~~leasing ~~amount~~that ofequipment ~~interest~~to ~~accrued~~HCLP ~~was~~under an ~~$12,750,000~~operating ~~for~~lease (the ~~six~~“Lease”). ~~months~~In ~~ended June~~August 302001, ~~2004~~the ~~and~~Trust ~~the~~purchased ~~six~~approximately ~~months~~$309 million ~~ended~~of ~~June 30,~~gas ~~2003.~~compression ~~The~~equipment ~~yield~~from toHCLP ~~the~~and ~~equity~~its ~~certificate~~subsidiaries ~~holder~~to ~~was~~be ~~$426,000~~leased ~~for~~back ~~the six~~to ~~months~~HCLP ~~ended~~pursuant ~~June 30,~~to ~~2004 and $429,000 for~~ the ~~six months ended June 30,~~ ~~2003~~Lease. The ~~yield~~purchase ~~payable~~was onfinanced ~~the~~by ~~equity certificates will vary depending upon~~ the ~~certificate~~ ~~holder~~issuance ~~yield rate (9.1% as~~ of ~~June~~$300 ~~30,~~million ~~2004~~of ~~and 9~~8.250% assenior ofsecured ~~June 30,~~notes and ~~2003)~~$9.3 million ~~Return~~in ~~on the~~ equity ~~certificates~~investment ~~accrues~~from at the ~~Eurodollar~~Trust’s ~~rate~~equity ~~or,~~certificate ~~in certain circumstances, the prime rate, plus a spread in each case of 7~~holder.~~95% per~~ ~~year.~~

In February 2003, the Trust completed a registered offering pursuant to ~~exchange~~a ~~its~~registration statement on ~~registered~~Form ~~8.50%~~S-4 ~~senior~~to ~~secured~~exchange its new notes for all of its outstanding old notes. Pursuant to the exchange ~~Because~~offer, holders of the old notes received $1,000 principal amount of applicable new notes for each $1,000 principal amount of old notes exchanged. The terms of the new notes are identical to the terms of the applicable old notes except that the new notes are freely transferable under the Securities Act of 1933 and do not have any exchange or registration rights. In March 2003, the exchange offer was ~~not~~ completed ~~timely,~~and all of the ~~Trust~~old ~~received~~notes were exchanged for new notes. References to ~~additional~~the ~~rent~~“Notes” asin ~~reimbursement~~this Management’s Discussion and Analysis of Financial Condition and Results of Operations mean the old notes and the new notes, collectively.

The assets and source of revenue available to repay the Notes and satisfy the claims of holders of the Notes are limited, as the Trust has no assets other than its interests in the equipment leased to HCLP, and no source of revenue other than the payments under the Lease and the Hanover and HCLP guarantees. The Notes are obligations of the Trust only, and are not obligations of Hanover, HCLP or the Trustee. The Trust has no officers, directors or employees. The Trustee relies on receiving accurate information, reports and other representations from Hanover and HCLP in the ordinary course of its duties as Trustee. For information about Hanover and HCLP, the holders of the Notes are directed to Hanover’s and HCLP’s Annual Reports on Form 10-K and other reports and information that Hanover or HCLP has filed, or will file, with the SEC under the Securities Exchange Act of 1934. In executing and submitting this report on behalf of the Trust and with respect to David A. Vanaskey, Jr. in executing the Certifications relating to this report, the Trustee and David A. Vanaskey, Jr. have relied upon the accuracy of such reports, information and representations of Hanover and HCLP.

~~Table~~RESULTS ofOF ~~Contents~~OPERATIONS

~~penalty~~THREE ~~interest~~MONTHS ~~for~~ENDED ~~the~~SEPTEMBER ~~period January 28~~30, ~~2002~~2006 ~~through~~COMPARED ~~March 13,~~TO ~~2003.~~THREE ~~This rent~~MONTHS ~~was~~ENDED ~~$609,000~~SEPTEMBER ~~for the six months ended March 31~~30, ~~2003. On March 13, 2003,~~2005 ~~the exchange offer was completed and HCLP’s obligation to pay this penalty~~ ~~ended.~~

~~In addition, the Trust received additional rents to reimburse it, as required~~Revenues ~~under the Lease, for its operating expenses and for the costs of the securities~~ ~~registration. These additional rents amounted to $53,000 for the six months ended June 30, 2004 and $106,000 for the six months ended June 30, 2003.~~

~~Expenses~~The Trust’s rental revenues decreased by $10,592,000 to $2,987,000 during the three months ended September 30, 2006 from $13,579,000 during the three months ended September 30, 2005. The Trust’s rental revenue is based primarily on the interest accrued on the Notes and the yield payable to the equity certificate holder. The decrease in rental revenue is primarily due to the decrease in interest accrued on the Notes as a result of the early redemption of $167,000,000 of Notes during September 2005. Rental revenue for the three months ended September 30, 2005 included the reimbursement (supplemental rent) of $7,318,000 for call premiums paid on the early redemption of the $167,000,000 of the Notes. The interest rate on the Notes is fixed at 8.50% and the amount of interest accrued was $2,826,000 for the three months ended September 30, 2006 and $5,980,000 for the three months ended September 30, 2005. The yield to the equity certificate holder was $140,000 for the three months ended September 30, 2006 and $256,000 for the three months ended September 30, 2005. The yield payable on the equity certificates will vary depending upon the certificate holder yield rate (13.3% as of September 30, 2006 and 11.6% as of September 30, 2005). Return on the equity certificates accrues at the Eurodollar rate or, in certain circumstances, the prime rate, plus a spread in each case of 7.95% per year.

~~Interest~~In ~~expense~~addition, ~~decreased~~the byTrust ~~$609,000~~received oradditional ~~approximately~~rents 5% to ~~$12,750,000 during~~reimburse ~~the six months ended June 30~~it, ~~2004~~as ~~from~~required ~~$13,359,000~~under ~~during~~ the ~~six~~Lease, for ~~months~~its ~~ended~~operating ~~June 30, 2003~~expenses. ~~The~~These ~~decrease~~additional ~~resulted~~rents ~~from~~amounted ~~the~~to ~~decrease~~$21,000 infor ~~penalty interest during~~ the ~~six~~three months ended ~~March~~ September 3130,~~2004~~ ~~due~~2006 toand ~~the~~$25,000 ~~completion~~for of the ~~exchange~~ ~~offer~~three ~~relating~~months toended ~~the Notes on March~~September 1330, ~~2003~~2005.

~~Operating expenses decreased by $53,000 or approximately 50% to $53,000 during~~Expenses ~~the six months ended June 30, 2004 from $106,000 during the six months ended June 30, 2003. The decrease resulted from reduced exchange offering expenses and lower legal expenses.~~

~~LIQUIDITY~~Debt ~~AND~~extinguishment ~~CAPITAL~~costs ~~RESOURCES~~for the three months ended September 2006 and 2005 was zero and $7,318,000, respectively. Debt extinguishment costs in the third quarter of 2005 resulted from the call premium paid in connection with the partial redemption and repayment of our 8.5% senior secured notes due in 2008.

~~Under the triple net lease terms on the equipment, all of the costs of~~11 maintaining and financing the equipment are borne by HCLP, as the lessee. The Trust believes that it has adequate capital resources for the nature of its business and that the funds provided by operations will be sufficient to satisfy its obligations. Because the Trust is limiting activities to the ownership, financing and leasing of equipment under the operating lease, the Trust does not believe it will have any need to obtain additional debt or equity financing for its current operations.

TheTable Trust’s cash and cash equivalents balance at June 30, 2004 and December 31, 2003 was $0, respectively. Operating activities for the six months ended June 30, 2004 provided $429,000, which was used for the payment of the equity certificates yield due. Contents

~~The~~Operating ~~Notes~~expenses ~~are~~decreased ~~obligations of the Trust and are collateralized~~ by ~~all of the equipment~~$4,000 ~~rents~~or ~~and~~approximately ~~supplemental~~16% ~~rents~~to ~~covered by the Lease. In addition~~$21,000 ~~the Trust’s~~during ~~obligations under~~ the ~~Notes~~three ~~are jointly and severally guaranteed,~~months ~~unconditionally~~ended ~~and on a senior subordinated basis~~September 30, by2006 ~~Hanover,~~from ~~the ultimate parent company of HCLP~~$25,000 ~~and~~during ~~HCLP for an amount up to 77.33% of~~ the ~~aggregate principal~~three ~~balance~~months ofended ~~Notes outstanding~~September 30, ~~which is equal to the final rent payment under the Lease~~2005. If there is an event of default under the Lease, Hanover and HCLP guarantee, jointly and severally, on a senior subordinated basis, all of the Trust’s obligations under the Notes. Hanover unconditionally guarantees on a senior subordinated basis all of HCLP’s obligations under the Lease. The ~~obligations of HCLP under the Lease are subordinated in right of~~ ~~payment~~decrease toresulted ~~all~~from ~~existing~~reduced ~~and~~professional ~~future~~fees ~~senior~~during ~~indebtedness of HCLP. The obligations of Hanover and HCLP under~~ the ~~guarantee~~three ~~are~~months ~~subordinated~~ended inSeptember 30, ~~right of payment to~~2006 ~~all~~as ~~existing~~compared ~~and future senior indebtedness of such guarantor. Each guarantee ranks equally in right of payment with all senior subordinated debt and senior~~ to ~~all subordinated debt of such guarantor. The estimated fair market value of~~ the ~~Notes~~three ~~was~~months ~~approximately~~ended ~~$317~~September ~~million and $318 million at June~~ 30, ~~2004 and December 31, 2003, respectively~~2005.

~~RECENT~~NINE ~~ACCOUNTING~~MONTHS ~~PRONOUNCEMENTS~~ENDED SEPTEMBER 30, 2006 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2005

~~In January 2003, the FASB issued FIN 46. The primary objectives of FIN 46 are~~Revenues to provide guidance on the identification of entities for which control is achieved by means other than through voting rights and the determination of when and which business enterprise should consolidate the VIE in its financial statements. FIN 46 applies to an entity in which either (1) the equity investors (if any) do not have a controlling financial interest or (2) the equity investment at risk is insufficient to finance that entity’s activities without receiving additional subordinated financial support from other parties. In addition, FIN 46 requires that both the primary beneficiary and all other enterprises with a significant variable interest in a VIE make additional disclosures. As revised, FIN 46 was effective immediately for VIE’s created after January 31, 2003. For special-purposes entities created prior to February 1, 2003, FIN 46 is effective at the first interim or annual reporting period ending after December 15, 2003, or December 31, 2003 for us. For entities, other than special purpose entities, created prior to February 1, 2003, FIN 46 is effective for us as of March 31, 2004. In addition, FIN 46 allows companies to elect to adopt early the provisions of FIN 46 for some, but not all, of the variable interest entities they own. The Trust does not believe the adoption of FIN 46 will have a material effect on its financial statements.

The Trust’s rental revenues decreased by $17,930,000 or approximately 67% to $8,946,000 during the nine months ended September 30, 2006 from $26,876,000 during the nine months ended September 30, 2005. The Trust’s rental revenue is based primarily on the interest accrued on the Notes and the yield payable to the equity certificate holder. The decrease in rental revenue is primarily due to the decrease in interest accrued on the Notes as a result of the early redemption of $167,000,000 of Notes during September 2005. Rental revenue for the nine months ended September 30, 2005 included the reimbursement (supplemental rent) of $7,318,000 for call premiums paid on the early redemption of the $167,000,000 of the Notes. The interest rate on the Notes is fixed at 8.50% and the amount of interest accrued was $8,479,000 for the nine months ended September 30, 2006 and $18,730,000 for the nine months ended September 30, 2005. The yield to the equity certificate holder was $403,000 for the nine months ended September 30, 2006 and $758,000 for the nine months ended September 30, 2005. The yield payable on the equity certificates will vary depending upon the certificate holder yield rate (13.3% as of September 30, 2006 and 11.6% as of September 30, 2005). Return on the equity certificates accrues at the Eurodollar rate or, in certain circumstances, the prime rate, plus a spread in each case of 7.95% per year.

~~Table~~In ofaddition, ~~Contents~~the Trust received additional rents to reimburse it, as required under the Lease, for its operating expenses. These additional rents amounted to $64,000 for the nine months ended September 30, 2006 and $70,000 for the nine months ended September 30, 2005.

~~ITEM 3. Quantitative and Qualitative Disclosures about Market Risk~~Expenses

~~Not~~Debt ~~Applicable~~extinguishment costs for the nine months ended September 2006 and 2005 was zero and $7,318,000, respectively. Debt extinguishment costs in 2005 resulted from the call premium paid in connection with the partial redemption and repayment of our 8.5% senior secured notes due in 2008

~~ITEM~~Operating 4expenses decreased by $6,000 or approximately 9% to $64,000 during the nine months ended September 30, 2006 from $70,000 during the nine months ended September 30, 2005. ~~Controls~~The ~~and~~decrease resulted ~~Procedures~~from reduced professional fees during the nine months ended September 30, 2006 as compared to the nine months ended September 30, 2005.

~~The~~LIQUIDITY ~~Trustee~~AND ~~has~~CAPITAL ~~carried out an evaluation of the effectiveness of the design~~RESOURCES and operation of the Trust’s disclosure controls and procedures as of the end of the second quarter. Based upon that evaluation, the Trustee concluded that the Trust’s disclosure controls and procedures are designed to ensure that information required to be disclosed by the Trust in the reports it files or submits under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that the Trust’s disclosure controls and procedures are effective to ensure that information is accumulated and communicated to the Trustee to allow timely decisions regarding required disclosure. The Trustee, in making these determinations, has relied to the extent reasonable on information provided by Hanover and HCLP. In connection with the evaluation, no changes in the Trust’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred during the quarter ended June 30, 2004 that have materially affected, or are reasonably likely to materially affect, the Trust’s internal control over financial reporting.

12Under the terms of the lease, all of the costs of maintaining and financing the leased equipment are borne by HCLP, as the lessee. The Trust believes that it has adequate capital resources for the nature of its business and that the funds provided by operations will be sufficient to satisfy its obligations. Because the Trust is limiting activities to the ownership, financing and leasing of equipment under the Lease, the Trust does not believe it will have any need to obtain additional debt or equity financing for its current operations.

~~Table~~The Trust’s cash and cash equivalents balance at September 30, 2006 and December 31, 2005 was $0. Operating activities for the nine months ended September 30, 2006 provided $434,000, which was used for the payment of ~~Contents~~the equity certificates yield due. The Notes are obligations of the Trust and are collateralized by all of the equipment, rents and supplemental rents covered by the Lease. In addition, the Trust’s obligations under the Notes are jointly and severally guaranteed, unconditionally and on a senior subordinated basis, by Hanover, the ultimate parent company of HCLP, and HCLP for an amount up to 77.33% of the aggregate principal balance of Notes outstanding, which is equal to the final rent payment under the Lease. If there is an event of default under the Lease, Hanover and HCLP guarantee, jointly and severally, on a senior subordinated basis, all of the Trust’s obligations under the Notes. Hanover unconditionally guarantees on a senior subordinated basis all of HCLP’s obligations under the Lease. The obligations of HCLP under the Lease are subordinated in right of payment to all existing and future senior indebtedness of HCLP. The obligations of Hanover and HCLP under the guarantee are subordinated in right of payment to all existing and future senior indebtedness of such guarantor. Each guarantee ranks equally in right of payment with all senior subordinated debt and senior to all subordinated debt of such guarantor. The estimated fair market value of the Notes was approximately $135 million and $138 million at September 30, 2006 and December 31, 2005, respectively.

~~PART II OTHER INFORMATION~~12

ITEMTable 6:of Exhibits and Reports on Form 8-K Contents

~~(a) Exhibits~~RECENT ACCOUNTING PRONOUNCEMENTS

	31.1		Certification pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	32.1		Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).

In May 2005, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 154, “Accounting Changes and Error Corrections, a replacement of APB Opinion No. 20 and FASB Statement No. 3” (“SFAS 154”). SFAS 154 requires retrospective application for reporting a change in accounting principle in the absence of explicit transition requirements specific to newly adopted accounting principles, unless impracticable. Corrections of errors will continue to be reported under SFAS 154 by restating prior periods as of the beginning of the first period presented. SFAS 154 is effective for accounting changes and corrections of errors made in fiscal years beginning after December 15, 2005. The adoption of SFAS 154 did not have a material impact on our consolidated results of operations, cash flows or financial position.

In February 2006, the FASB issued Statement of Financial Accounting Standards No. 155, “Accounting for Certain Hybrid Instruments — an amendment of FASB Statements No. 133 and 140” (“SFAS 155”). SFAS 155 (a) permits fair value remeasurement for any hybrid financial instrument that contains an embedded derivative that otherwise would require bifurcation, (b) ~~Reports~~clarifies ~~submitted~~which interest-only strips and principal-only strips are not subject to the requirements of FASB No. 133, (c) establishes a requirement to evaluate interests in securitized financial assets to identify interests that are freestanding derivatives or that are hybrid financial instruments that contain an embedded derivative requiring bifurcation, (d) clarifies that concentrations of credit risk in the form of subordination are not embedded derivatives, and (e) amends SFAS No. 140 to eliminate the prohibition on ~~Form~~a 8qualifying special-K:purpose entity from holding a derivative instrument that pertains to a beneficial interest other than another derivative financial instrument. SFAS 155 is effective for all financial instruments acquired or issued after the beginning of an entity’s first fiscal year that begins after September 15, 2006. We are currently evaluating the provisions of SFAS 155 and do not believe that our adoption will have a material impact on our consolidated results of operations, cash flows or financial position.

~~NONE~~In September 2006, the FASB issued Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“SFAS 157”). SFAS 157 provides a single definition of fair value, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value to measure assets and liabilities. SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. We are currently evaluating the provisions of SFAS 157.

13Item 3. Quantitative and Qualitative Disclosures about Market Risk

~~Table~~Not ~~of Contents~~Applicable

~~SIGNATURES~~Item 4. Controls and Procedures

~~Pursuant~~The toTrustee has carried out an evaluation of the ~~requirements~~effectiveness of the ~~Securities~~design ~~Exchange~~and ~~Act~~operation of ~~1934~~the Trust’s disclosure controls and procedures as of the end of the third quarter. Based upon that evaluation, the Trustee concluded that the Trust’s disclosure controls and procedures are ~~registrant~~effective. ~~has~~The ~~duly~~Trustee, ~~caused~~in ~~this~~making ~~report~~these determinations, has relied to bethe ~~signed~~extent reasonable on information ~~its~~provided ~~behalf~~ by Hanover and HCLP. No changes in the Trust’s internal control over financial ~~undersigned~~reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred during the quarter ended September 30, ~~thereunto~~2006 ~~duly~~that ~~authorized~~have materially affected, or are reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Date: August 13, 2004
	Hanover Equipment Trust 2001A By: Wilmington Trust Company, not in its individual capacity but solely as Trustee for the Hanover Equipment Trust 2001A
	/s/ David A. Vanaskey, Jr.
	Name:	David A. Vanaskey, Jr.
	Title:	Vice President

Note:Table Because the Registrant is a trust without officers, directors or employees, only the signature of an officer of the trustee of the registrant is available and has been provided. Contents

14PART II. OTHER INFORMATION

~~Table~~Item 1A. ofRisk ~~Contents~~Factors

~~EXHIBIT~~There ~~INDEX~~have been no material changes in our risk factors that were previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2005.

31.1		Certification pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).

Item 6: Exhibits

15(a) Exhibits

31.1		Certification pursuant to Rule 13a-14(a)/ 15d-14(a) of the Securities Exchange Act of 1934. *

32.1		Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **


*		Filed herewith.

**		Furnished herewith.

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.

Date: November 13, 2006


		Hanover Equipment Trust 2001A
		By: Wilmington Trust Company,
		not in its individual capacity but solely as
		Trustee for the Hanover Equipment Trust 2001A

		/s/ David A. Vanaskey, Jr.


		Name: David A. Vanaskey, Jr.
		Title: Vice President

Note: Because the Registrant is a trust without officers, directors or employees, only the signature of an officer of the trustee of the registrant is available and has been provided.

EXHIBIT INDEX

31.1		Certification pursuant to Rule 13a-14(a)/ 15d-14(a) of the Securities Exchange Act of 1934. *

32.1		Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **


*		Filed herewith.

**		Furnished herewith.

Filing Compare · HANOVER EQUIPMENT TRUST 2001A