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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): &nbsp;September 16, 2008</B>


<P style="font-size: 24pt" align="center"><B>RIO VISTA
ENERGY PARTNERS L.P.<BR>
</B><FONT style="font-size: 10pt">(Exact name of
registrant as specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-50394</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>20-0153267</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>1313 Alton Gloor Blvd., Suite
J<BR>
Brownsville, Texas<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>78526</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(956) 831-0886</B>
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cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>Not
applicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="justify"><B>Item&nbsp;3.01 Notice of
Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer
of Listing</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On
September&nbsp;16, 2008, Rio Vista Energy Partners L.P. (&#8220;Rio
Vista&#8221;) received notice from the Listing Qualifications Department of The
NASDAQ Stock Market, LLC (&#8220;Nasdaq&#8221;) that its application to
transfer trading of its common units to The Nasdaq Capital Market (the
&#8220;Capital Market&#8221;) from The Nasdaq Global Market (the &#8220;Global
Market&#8221;) was approved. As previously reported, on May&nbsp;22, 2008, Rio
Vista received a letter from Nasdaq indicating that, based on Rio Vista&#8217;s
Report on Form 10-Q for the period ending March&nbsp;31, 2008, Rio Vista was
not in compliance with the shareholders&#8217; equity requirement for continued
listing on The Nasdaq Global Market. Nasdaq indicated in its letter to Rio
Vista that Rio Vista was required to provide Nasdaq with an acceptable plan of
compliance; otherwise Rio Vista would be subject to delisting from The Global
Market. Rio Vista complied with this request and provided Nasdaq with its plan
of compliance, which among other things, included the sale of equity to Penn
Octane Corporation in the amount of $2,000,000. On July&nbsp;25, 2008, Nasdaq
informed Rio Vista that it would accept Rio Vista&#8217;s plan of compliance
provided that, among other things, Rio Vista disclose publicly on or before
August&nbsp;20, 2008 that at the time of such filing, it was currently in
compliance with the minimum stockholders equity requirement. On August&nbsp;20,
2008, Rio Vista filed its quarterly report on Form 10-Q for the quarter ended
June&nbsp;30, 2008. Rio Vista did not indicate affirmatively that it was in
compliance with the minimum stockholders equity requirement at the time of the
filing. As of June&nbsp;30, 2008, the net worth of Rio Vista, adjusted for the
sale of equity described above, was $9,916,000, slightly below the $10,000,000
minimum amount required by Nasdaq. Although Rio Vista is confident that the
shortfall in equity could be supplied from the additional sale of equity to its
parent company, Penn Octane Corporation, Rio Vista had since determined that
the election to apply to transfer its common units to the Capital Market and
thereby be subject to a much lower minimum equity requirement would be a better
alternative than continuing to be faced with the potential requirement to raise
equity capital on a short-term basis. Rio Vista currently complies with the
minimum stockholders equity requirement of The Capital Market. There is no
assurance that in the future Rio Vista will continue to satisfy Nasdaq listing
requirements, including The Capital Market minimum stockholders equity
requirement, with the result that its common units may be delisted from The
Capital Market.

<P style="font-size: 10pt; text-indent: 4%" align="justify">Rio Vista&#8217;s
common units will begin trading on the Capital Market, and will cease trading
on the Global Market, at the opening of business, September&nbsp;18, 2008. The
trading symbol for Rio Vista&#8217;s common units remains &#8220;RVEP&#8221;.
On September&nbsp;17, 2008, Rio Vista issued a press release reporting the
receipt of notification from Nasdaq regarding approval of Rio Vista&#8217;s
application to list its common units on the Capital Market. A copy of the press
release is attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by
reference.

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;9.01 Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt; text-indent: 2%" align="justify">Exhibit&nbsp;99.1
Rio Vista&#8217;s press release of September&nbsp;17, 2008 announcing approval
and listing transfer to The Nasdaq Capital Market.

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 2%" align="justify">Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.

<P style="font-size: 10pt; margin-left: 52%" align="justify"><B>Rio Vista
Energy Partners L.P.</B>

<P style="font-size: 10pt; margin-left: 52%" align="justify">By: <U>/s/ Ian T.
Bothwell&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name:
Ian T. Bothwell<BR>
Title: Acting Chief Executive Officer,<BR>
Acting
President, Vice President,<BR>
Chief Financial Officer, Treasurer
and<BR>
Assistant Secretary (Principal Executive,<BR>
Financial and Accounting
Officer)

<P style="font-size: 10pt" align="justify">Dated: September&nbsp;19, 2008

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
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<P style="font-size: 10pt" align="center"><B>EXHIBIT INDEX</B>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="10%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD style="border-bottom: #000000 1px solid" nowrap align="left"><B>Exhibit
No.</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" nowrap
align="center"><B>Description</B></TD>
 </TR>
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  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px"><BR>99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left"><BR>Press release dated September&nbsp;17,
2008.</TD>
 </TR>
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<P style="display: none; font-size: 10pt" align="center">4
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{"company-data": {"conformed-name": "RIO VISTA ENERGY PARTNERS LP", "cik": "0001260828", "assigned-sic": "5172", "irs-number": "200153267", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50394", "film-number": "081081095"}, "business-address": {"street1": "1313 EAST ALTON GLOOR BLVD.", "street2": "SUITE J", "city": "BROWNSVILLE", "state": "TX", "zip": "78526", "phone": "(956) 831-0886"}, "mail-address": {"street1": "1313 EAST ALTON GLOOR BLVD.", "street2": "SUITE J", "city": "BROWNSVILLE", "state": "TX", "zip": "78526"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported):  September 16, 2008
RIO VISTA
ENERGY PARTNERS L.P.
(Exact name of
registrant as specified in its charter)
Delaware
000-50394
20-0153267
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1313 Alton Gloor Blvd., Suite
J
Brownsville, Texas
78526
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(956) 831-0886
Not
applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.01 Notice of
Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer
of Listing
On
September 16, 2008, Rio Vista Energy Partners L.P. ("Rio
Vista") received notice from the Listing Qualifications Department of The
NASDAQ Stock Market, LLC ("Nasdaq") that its application to
transfer trading of its common units to The Nasdaq Capital Market (the
"Capital Market") from The Nasdaq Global Market (the "Global
Market") was approved. As previously reported, on May 22, 2008, Rio
Vista received a letter from Nasdaq indicating that, based on Rio Vista's
Report on Form 10-Q for the period ending March 31, 2008, Rio Vista was
not in compliance with the shareholders' equity requirement for continued
listing on The Nasdaq Global Market. Nasdaq indicated in its letter to Rio
Vista that Rio Vista was required to provide Nasdaq with an acceptable plan of
compliance; otherwise Rio Vista would be subject to delisting from The Global
Market. Rio Vista complied with this request and provided Nasdaq with its plan
of compliance, which among other things, included the sale of equity to Penn
Octane Corporation in the amount of $2,000,000. On July 25, 2008, Nasdaq
informed Rio Vista that it would accept Rio Vista's plan of compliance
provided that, among other things, Rio Vista disclose publicly on or before
August 20, 2008 that at the time of such filing, it was currently in
compliance with the minimum stockholders equity requirement. On August 20,
2008, Rio Vista filed its quarterly report on Form 10-Q for the quarter ended
June 30, 2008. Rio Vista did not indicate affirmatively that it was in
compliance with the minimum stockholders equity requirement at the time of the
filing. As of June 30, 2008, the net worth of Rio Vista, adjusted for the
sale of equity described above, was $9,916,000, slightly below the $10,000,000
minimum amount required by Nasdaq. Although Rio Vista is confident that the
shortfall in equity could be supplied from the additional sale of equity to its
parent company, Penn Octane Corporation, Rio Vista had since determined that
the election to apply to transfer its common units to the Capital Market and
thereby be subject to a much lower minimum equity requirement would be a better
alternative than continuing to be faced with the potential requirement to raise
equity capital on a short-term basis. Rio Vista currently complies with the
minimum stockholders equity requirement of The Capital Market. There is no
assurance that in the future Rio Vista will continue to satisfy Nasdaq listing
requirements, including The Capital Market minimum stockholders equity
requirement, with the result that its common units may be delisted from The
Capital Market.
Rio Vista's
common units will begin trading on the Capital Market, and will cease trading
on the Global Market, at the opening of business, September 18, 2008. The
trading symbol for Rio Vista's common units remains "RVEP".
On September 17, 2008, Rio Vista issued a press release reporting the
receipt of notification from Nasdaq regarding approval of Rio Vista's
application to list its common units on the Capital Market. A copy of the press
release is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
Item 9.01 Financial
Statements and Exhibits.
Exhibit 99.1
Rio Vista's press release of September 17, 2008 announcing approval
and listing transfer to The Nasdaq Capital Market.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Rio Vista
Energy Partners L.P.
By:
/s/ Ian T.
Bothwell
Name:
Ian T. Bothwell
Title: Acting Chief Executive Officer,
Acting
President, Vice President,
Chief Financial Officer, Treasurer
and
Assistant Secretary (Principal Executive,
Financial and Accounting
Officer)
Dated: September 19, 2008
EXHIBIT INDEX
Exhibit
No.
Description
99.1
Press release dated September 17,
2008.