Under the NASA/JSU JOVE Program a study has been undertaken to investigate the Ocean-Atmosphere interactions over the Gulf of Mexico and their relation in the formation and development of tropical cyclones/hurricanes. Reddy and Miller (1997) and Reddy et.al.(1998) have observed a dominant 3-5 day oscillation in the air-sea interactions of heat, momentum and moisture fluxes during the hurricane 1995 Opal activity. In the present study we have further investigated the air-sea interactions in the hurricane Roxanne that occurred on 10-14, October 1995, over the Gulf of Mexico, in order to confirm the above findings. Also, developed a Hurricane Predictive Index (HPI) for predicting the formation and development of the hurricane Opal that occurred on 2-4,October 1995. The study has pointed out that (I) a dominant 2-5 day oscillation was noticed in the air-sea interactions of heat, momentum and moisture fluxes, and (II) a negative HPI between -2 to -3 was identified during the formation and development of the hurricane Opal. The results will be presented and discussed.