CORRESP 1 filename1.htm

DAVIS POLK & WARDWELL

450 LEXINGTON AVENUE
NEW YORK, N.Y. 10017



1300 I STREET, N.W.
WASHINGTON, D.C. 20005
 

MARQUÉS DE LA ENSENADA, 2
28004 MADRID

91 702 2680
FAX 9 1 702 2765

WRITER’S DIRECT

15, AVENUE MATIGNON
75008 PARIS



MESSETURM
60308 FRANKFURT AM MAIN

 
1600 EL CAMINO REAL
MENLO PARK, CA 94025

 

1-6-1 ROPPONGI
MINATO-KU, TOKYO 106-6033


 
99 GRESHAM STREET
LONDON EC2V 7NG

 

3A CHATER ROAD
HONG KONG


  October 11, 2006

Re:

Repsol YPF, S.A.
Form 20-F for the fiscal year ended December 31, 2005
File No. 1-10220

Ms. Jennifer Goeken
U.S. Securities and Exchange Commission
Division of Corporation Finance
450 Fifth Street, N.W.
Washington, D.C.  20549

Dear Ms. Goeken:

I am writing on behalf of Repsol YPF, S.A. (“Repsol YPF”) in connection with the Staff’s review of Repsol YPF’s Annual Report on Form 20-F for the fiscal year ended December 31, 2005.  As we discussed by telephone earlier today, Repsol YPF is reviewing internally and with its external auditors and legal advisors the Staff’s comment letter dated September 28, 2006 and currently expects to respond in writing to the Staff’s comments during the week of October 30, 2006.  I understand that the timing of such response is acceptable to the Staff. 





Ms. Jennifer Goeken 2 October 11, 2006

Please do not hesitate to contact me (tel. no. 011-34-91-702-2741) should you have any questions regarding the foregoing.

  Very truly yours,
   
  Michael J. Willisch

 

ccc:

Angel Ramos — Repsol YPF