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UNITED
STATES NATURAL GAS FUND, LP
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(Exact
name of registrant as specified in its charter)
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Delaware
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001-33096
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20-5576760
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
No.)
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1320
Harbor Bay Parkway, Suite 145
Alameda,
California 94502
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(Address
of principal executive offices)
(Zip
Code)
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Registrant's
telephone number, including area code
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(510)
522-3336
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Not
Applicable
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(Former
name or former address, if changed since last report)
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UNITED
STATES NATURAL GAS FUND, LP
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Date:
June 15, 2007
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By:
Victoria Bay Asset Management, LLC, its general partner
By:/s/
Howard Mah
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Name: Howard
Mah
Title: Chief
Financial Officer
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United
States Natural Gas Fund, LP
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Monthly
Account Statement
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||||
For
the Month Ended May 31, 2007
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||||
Statement
of Income (Loss)
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||||
Income
|
||||
Net
Realized Trading Gain (Loss)
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$
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1,798,810
|
||
Unrealized
Gain (Loss) on Market Value of Futures
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(1,944,600
|
)
|
||
ETF
Transaction Fees
|
4,000
|
|||
Interest
Income
|
183,241
|
|||
Total
Income (Loss)
|
$
|
41,451
|
||
Expenses
|
||||
Investment
Advisory Fee
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$
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23,840
|
||
Brokerage
Commissions
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4,923
|
|||
Non-interested
Directors' Fees and Expenses
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140
|
|||
NYMEX
License Fee
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1,589
|
|||
Total
Expenses
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$
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30,492
|
||
Net
Gain (Loss)
|
$
|
10,959
|
||
Statement
of Changes in Net Asset Value
|
||||
Net
Asset Value Beginning of Period 5/1/07
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$
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73,010,643
|
||
Additions
(200,000 Units)
|
10,155,778
|
|||
Withdrawals
(900,000 Units)
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(46,978,954
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)
|
||
Net
Gain (Loss)
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10,959
|
|||
Net
Asset Value End of Period
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$
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36,198,426
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||
Net
Asset Value Per Unit (700,000 Units)
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$
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51.71
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To
the Limited Partners of United States Natural Gas Fund,
LP:
|
||||
That
pursuant to Section 4.22(h) of the Commodities Exchange Act, the
undersigned represents that,
|
||||
to
the best of his knowledge and belief, the information contained in
the
Account Statement for the period
|
||||
ended
May 31, 2007 is accurate and complete.
|
||||
/s/
Nicholas D. Gerber
|
||||
Nicholas
D. Gerber
|
||||
President
and Chief Executive Officer
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||||
Victoria
Bay Asset Management, LLC, General Partner of United States Natural
Gas
Fund, LP
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||||
Victoria
Bay Asset Management, LLC
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||||
1320
Harbor Bay Parkway
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Suite
145
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Alameda,
CA 94502
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