During the period June 8--19, 1979, an intensive expendable bathythermograph survey of a Gulf Stream ring was made. After mapping the irregularly spaced data onto a regular grid, and azimuthally decomposing the temperature field at constant depth into Fourier constituents ein &thgr;, we find the n=2 mode to be the dominant one. We calculate the geostrophic stream function utilizing the hydrostatic equation and the measured temperature/salinity curves. The stream function is expressed in cylindrical polar coordinates (r, &thgr;, z) and decomposed into a steady, azimuthally independent part &PSgr;(r, z) and a temporally varying disturbance part ϕ (r, &thgr;, z, t) with azimuthal dependence. The quasi-geostrophic energy equation for ϕ contains source terms representing the interaction of the &psgr; and ϕ fields by baroclinic and barotropic processes. We find that ~90% of the total disturbance energy flux results from baroclinic processes, and the remainder from the barotropic exchangees. The time scale of this energy flux into the disturbance ϕ is of the order of 16 days, while the time scale of an energy loss from the disturbance is ~4.5 days.