-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 HfeY03tVkIoYYKAeXI8BDl5OHtjHHqMgbOKLcHu+ImV37ZtX+++j/IZpzqublyot
 RkBHZANcfVQ1KS4Yv4bmBg==

<SEC-DOCUMENT>0001478694-10-000001.txt : 20100107
<SEC-HEADER>0001478694-10-000001.hdr.sgml : 20100107
<ACCEPTANCE-DATETIME>20100107135720
ACCESSION NUMBER:		0001478694-10-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100107
DATE AS OF CHANGE:		20100107
EFFECTIVENESS DATE:		20100107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Five States Consolidated III, Ltd.
		CENTRAL INDEX KEY:			0001478694
		IRS NUMBER:				271472840
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-137545
		FILM NUMBER:		10514387

	BUSINESS ADDRESS:	
		STREET 1:		4925 GREENVILLE AVENUE
		STREET 2:		SUITE 1220
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75206
		BUSINESS PHONE:		214-363-3008

	MAIL ADDRESS:	
		STREET 1:		4925 GREENVILLE AVENUE
		STREET 2:		SUITE 1220
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75206
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001478694</cik>
        <entityName>Five States Consolidated III, Ltd.</entityName>
        <issuerAddress>
            <street1>4925 GREENVILLE AVENUE</street1>
            <street2>SUITE 1220</street2>
            <city>DALLAS</city>
            <stateOrCountry>TX</stateOrCountry>
            <zipCode>75206</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>214-363-3008</issuerPhoneNumber>
        <jurisdictionOfInc>TEXAS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>1</firstName>
                <middleName>1</middleName>
                <lastName>Five States Energy Company, L.L.C.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>A.</middleName>
                <lastName>Gibbs</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Chairman of the Board of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>J.</middleName>
                <lastName>Malouf</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Vice President &amp; Secretary of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arthur</firstName>
                <middleName>N.</middleName>
                <lastName>Budge, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and President &amp; CEO of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>E.</middleName>
                <lastName>Harrison</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and CFO of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName>L.</middleName>
                <lastName>Stone</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Vice President of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steve</firstName>
                <middleName>L.</middleName>
                <lastName>Collins</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Vice President of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Patricia</firstName>
                <middleName>Gamez</middleName>
                <lastName>Stoll</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Treasurer of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>R.</middleName>
                <lastName>Scales</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4925 Greenville Avenue</street1>
                <street2>Suite 1220</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75206</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Promoter and Controller of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Oil and Gas</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited Partnership Interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>true</isBusinessCombinationTransaction>
            <clarificationOfResponse>The limited partnership was formed to combine through merger with the following TX Limited Partnerships: Five Stase 2001-A, Ltd., Five States 2002-B, Ltd. and Five States 2004-A, Ltd.</clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>17464027</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>17464027</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>0</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Five States Consolidated III, Ltd.</issuerName>
                <signatureName>Patricia Gamez Stoll</signatureName>
                <nameOfSigner>Patricia Gamez Stoll</nameOfSigner>
                <signatureTitle>Treasurer of Five States Energy Company, L.L.C.</signatureTitle>
                <signatureDate>2010-01-07</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----