10-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               REPORT ON FORM 10-K
(Mark one)

      /X/  Annual  Report  pursuant  to  Section  13 or 15(d) of the  Securities
Exchange Act of 1934 for the fiscal year ended DECEMBER 31, 2001 or

      / / Transition  Report  pursuant to Section 13 or 15(d) of the  Securities
Exchange  Act  of  1934  for  the  transition  period  from   ______________  to
______________.

                           Commission File No. 0-20975

                                 TENGASCO, INC.
                (NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

         TENNESSEE                                                    87-0267438
(STATE OR OTHER JURISDICTION OF                                 (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                               IDENTIFICATION NO.)

               603 MAIN AVENUE, KNOXVILLE, TENNESSEE     37902
              (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)   (ZIP CODE)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (865) 523-1124.

Securities  registered  pursuant to Section 12(b) of the Act:  NONE.
Securities  registered pursuant to Section 12(g) of the Act: COMMON STOCK, $.001
PAR VALUE PER SHARE.

      Indicate  by  checkmark  whether  the  registrant  (1) filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the preceding 12 months (or such shorter  period that the registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days: Yes /X/ No / /

      Indicate by checkmark if disclosure  of  delinquent  filers in response to
Item 405 of Regulation  SK is not contained in this form and no disclosure  will
be contained,  to the best of the registrant's knowledge, in definitive proxy or
information  statements  incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. [ ]

      State issuer's revenues for its most recent fiscal year: $6,953,089

      State the aggregate market value of the voting stock held by nonaffiliates
(based on the closing price on March 1, 2002 of $6.38): $43,111,759.

      State the number of shares outstanding of the registrant's $.001 par value
common stock as of the close of business on the latest  practicable  date (March
1, 2002): 10,656,401

      Documents Incorporated By Reference: None.

                                        1



                                        TABLE OF CONTENTS

                                                                            Page
PART I

         Item 1.    Business ................................................  1

         Item 2.    Description Of Property ................................. 21

         Item 3.    Legal Proceedings ....................................... 28

         Item 4.    Submission of Matters to a Vote of Security Holders ..... 31

PART II

         Item 5.    Market for Registrant's Common Equity and Related
                    Stockholder Matters ..................................... 32

         Item 6.    Selected Financial Data ................................. 34

         Item 7.    Management's Discussion and Analysis of Financial
                    Condition and Results of Operation ...................... 35

         Item 7A.   Quantitative and Qualitative Disclosures About
                    Market Risk ............................................. 44

         Item 8.    Financial Statements and Supplementary Data ............. 45

         Item 9.    Changes in and Disagreements With Accountants on
                    Accounting and Financial Disclosure ..................... 45

PART III

         Item 10.   Directors and Executive Officers of the Registrant ...... 46

         Item 11.   Executive Compensation .................................. 52

         Item 12.   Security Ownership of Certain Beneficial Owners
                    and Management .......................................... 55

         Item 13.   Certain Relationships and Related Transactions .......... 59
PART IV

         Item 14.   Exhibits, Financial Statement Schedules, and Reports
                    on Form 8-K ............................................. 60

SIGNATURES .................................................................. 66

                                        i



                           FORWARD LOOKING STATEMENTS

            The information contained in this Report, in certain instances,
includes forward-looking statements. When used in this document, the words
budget, budgeted, anticipate, expects, estimates, believes, goals or projects
and similar expressions are intended to identify forward-looking statements. It
is important to note that the Company's actual results could differ materially
from those projected by such forward-looking statements. Important factors that
could cause actual results to differ materially from those projected in the
forward-looking statements include, but are not limited to, the following:
production variances from expectations, volatility of oil and gas prices, the
need to develop and replace reserves, the substantial capital expenditures
required for construction of pipelines and the drilling of wells and the related
need to fund such capital requirements through commercial banks and/or public
securities markets, environmental risks, drilling and operating risks, risks
related to exploration and development drilling, the uncertainty inherent in
estimating future oil and gas production or reserves, uncertainty inherent in
litigation, competition, government regulation, and the ability of the Company
to implement its business strategy, including risks inherent in integrating
acquisition operations into the Company's operations.


PART I


ITEM 1.    BUSINESS.


OVERVIEW

            The Company is in the business of exploring for, producing and
transporting oil and natural gas in Tennessee and Kansas. The Company leases
producing and non-producing properties with a view toward exploration and
development. Emphasis is also placed on pipeline and other infrastructure
facilities to provide transportation, processing and tieback services. The
Company utilizes state-of-the-art seismic technology to maximize the recovery of
reserves. The Company's activities in the oil and gas business commenced in May
1995 with the acquisition of oil and gas leases in Tennessee.

            Since 1995 the Company has acquired oil and gas leases on a total of
approximately 60,000 acres, located in Hancock, Claiborne, Knox, Jefferson and
Union Counties in Tennessee.

            Effective December 31, 1997, the Company acquired from AFG Energy,
Inc. ("AFG"), a private company, approximately 32,000 acres of leases in the
vicinity of Hays, Kansas (the "Kansas Properties"). Included in the acquisition
which closed on March 5, 1998 were 273 wells, including 208 working wells, of
which 149 are producing oil wells and 59 are producing


                                       1



gas wells, a related 50 mile pipeline and gathering system, 3 compressors and 11
vehicles. The total purchase price of these assets was approximately $5.5
million, which consisted of $3 million in cash and seller financing of $2.5
million. The seller financing portion of the purchase price was refinanced by
Arvest United Bank of Oklahoma City, Oklahoma as evidenced by a note dated
November 23, 1999 in the amount of $1,883,650 to be paid in monthly installments
of principal and interest over a three year period. This obligation was
subsequently satisfied from the proceeds of a line of credit received by the
Company from Bank One, N.A. of Houston, Texas ("Bank One"). See, "Item 7,
Management's Discussion and Analysis of Financial Condition and Results of
Operation."

            The Kansas Properties are currently producing approximately one
million cubic feet of natural gas and 400 barrels of oil per day. Net revenues
from the Kansas Properties at the present time is approximately $315,000 per
month.

            To date, the Company has been drilling primarily on a portion of its
Tennessee leases, the 50,500 acre Swan Creek Field in Hancock County (the "Swan
Creek Field or Leases") focused within the Knox formation, one of the geologic
formations in the Field. It shortly intends to commence drilling in one of the
other geologic formations in the Swan Creek Field. In 2001, the Company had 29
producing gas wells and 6 producing oil wells.

            On November 18, 1999, the Company entered into a contract with
Eastman Chemical Company ("Eastman"), in Kingsport, Tennessee, pursuant to which
Eastman agreed to purchase a minimum of the lesser of 80% of its requirements or
10,000 MMBtu's (MMBTU MEANS ONE MILLION BRITISH THERMAL UNITS) of gas per day,
for twenty years.

            On March 30, 2001, the Company entered into a contract with BAE
Systems ("BAE"), the operator of the Holston Army Ammunition Plant in Kingsport,
Tennessee, pursuant to which BAE agreed to purchase all its gas requirements up
to a maximum of 5,000 MMBtu's per day of gas for twenty years.

            On March 8, 2001, the Company's wholly owned subsidiary, Tengasco
Pipeline Corporation, completed a 65 mile intrastate pipeline from the Swan
Creek Field to Kingsport, Tennessee at a cost to date of approximately $15.3
million through which it delivers its gas to Eastman, BAE and other customers in
East Tennessee.

            Delivery of gas to BAE commenced on April 4, 2001 and to Eastman on
May 24, 2001. Commencing in June, 2001, the Company was producing approximately
5 million cubic feet of gas ("MMcf"are units of one million cubic feet of gas)
per day from its existing wells in the Swan Creek Field. Based upon the
estimated reserves contained in a reserve analysis report as of December 31,
2001 provided to the Company by Ryder Scott Company, L.P. and the initial
production output of the existing wells, the Company anticipated that from
existing wells and new wells to be completed during 2001, it would be able to
produce and sell approximately 10 MMcf of gas per day to Eastman and BAE by the
end of 2001. However, in view of the lack of production history from the wells
or other wells in the area, various technical difficulties and

                                       2



substantial problems with higher than expected fluids in the wells, led to
significant reductions in the amount of gas produced and the Company was unable
to meet these projected goals. At present, the Company is producing
approximately 3MMcf of gas per day from its Swan Creek Field, a reduction from
the average of 4-5 MMcf produced in the beginning of the second half of 2001.
This reduction is the result of the problems discussed above; the fact that it
was necessary to shut down many of the wells while work to resolve the problems
was being done; and, the fact that the Company has temporarily stopped drilling
any new wells in the Swan Creek Field due to the necessity of devoting its
efforts to the task of improving the production from the existing wells.

            At present, work has been completed on 11 wells to reduce the
adverse effects of the fluid problems on the production of gas. Additional work
to eliminate the fluid problems from the wells, and, in some cases, to drill new
wells to replace troubled wells is ongoing, and the Company expects that
production to increase substantially from the Swan Creek Field by the end of
2002. The Company's efforts will be aided significantly by geological
information of the Knox formation derived from its experience with the wells
already drilled. The Company has now been able to assimilate a detailed
description and location of the primary producing geological structure. This now
allows for enhanced placement and relocation of some wells into the more
productive part of the Knox formation. This approach has been similar to a 3D
seismic acquisition and evaluation without the high cost associated with such a
procedure. As a result, although no assurances can be given, the Company
believes that the amount of fluids in any of the new wells to be drilled in the
Swan Creek Field will be significantly reduced. The Company hopes to commence
drilling of new wells in the Swan Creek Field shortly. The Company will also
continue to conduct exploration and production activities to produce increased
quantities of crude oil and natural gas. See, "Item 7 Management's Discussion
and Analysis of Financial Condition and Results of Operation - Liquidity and
Capital Resources" for discussion regarding funding for development activities.


HISTORY OF THE COMPANY

            The Company was initially organized under the laws of the State of
Utah on April 18, 1916, under the name "Gold Deposit Mining & Milling Company."
The Company subsequently changed its name to Onasco Companies, Inc. The Company
was formed for the purpose of mining, reducing and smelting mineral ores.

            On November 10, 1972, the Company conveyed to an unaffiliated entity
substantially all of the Company's assets and the Company ceased all business
operations.

            From approximately 1983 to 1991, the operations of the Company were
limited to seeking out the acquisition of assets, property or businesses.

            At a special meeting of stockholders held on April 28, 1995, the
Company's stockholders voted:

                                       3



            (i)   to approve the execution of an agreement (the "Purchase
Agreement") pursuant to which the Company would acquire certain oil and gas
leases, equipment, securities and vehicles owned by Industrial Resources
Corporation ("IRC")(1), a Kentucky corporation, in consideration of the issuance
of 4,000,000 post-split (as described below) "unregistered" and "restricted"
shares of the Company's common stock and a $450,000 8% promissory note payable
to IRC. The promissory note was converted into 83,799 shares of the Company's
common stock in December 1995;

            (ii)  to amend the Articles of Incorporation of the Company to
effect a reverse split of the Company's outstanding $0.001 par value common
stock on a basis of one share for two, retaining the par value at $0.001 per
share, with appropriate adjustments being made in the additional paid-in capital
and stated capital accounts of the Company;

            (iii) to change the name of the Company from "Onasco Companies,
Inc." to "Tengasco, Inc."; and

            (iv)  to change the domicile of the Company from the State of Utah
to the State of Tennessee by merging the Company into Tengasco, Inc., a
Tennessee corporation, formed by the Company solely for this purpose.

            The Purchase Agreement was duly executed by the Company and IRC,
effective May 2, 1995. The reverse split, name change and change of domicile
became effective on May 4, 1995, the date on which duly executed Articles of
Merger effecting these changes were filed with the Secretary of State of the
State of Tennessee; a certified copy of the Articles of Merger from the State of
Tennessee was filed with the Department of Commerce of the State of Utah on May
5, 1995. Unless otherwise noted, all subsequent computations herein
retroactively reflect this one for two reverse split.

            During 1996, the Company formed Tengasco Pipeline Corporation, a
wholly-owned subsidiary, to manage the construction and operation of its
pipeline, as well as other pipelines planned for the future.


GENERAL

      1.    THE SWAN CREEK FIELD

            Amoco Production Company ("AMOCO") during the late 1970's and early
1980's, after extensive geological and seismic studies, acquired approximately
50,500 acres of oil and gas leases in the Eastern Overthrust in the Appalachian
Basin, an area now referred to as the Swan

- ----------
(1)   Malcolm E. Ratliff, the Company's Chief Executive Officer and Chairman of
the Board of Directors, is the the sole shareholder of IRC.

                                       4



Creek Field.

            In 1982 AMOCO successfully drilled two significant natural gas
discovery wells in the Swan Creek Field to the Knox Formation at approximately
5,000 feet of total depth. These wells, once completed, had a high pressure and
volume of deliverability of natural gas; however, in the mid-1980's a
substantial decline in worldwide oil and gas prices occurred and the high cost
of constructing a necessary 23 mile pipeline across three rugged mountain ranges
and crossing the environmentally protected Clinch River from Sneedville to the
closest market in Rogersville, Tennessee was cost prohibitive.

            In 1987, AMOCO farmed out its leases to Eastern American Energy
Company which held the leases until July 1995. The Company became aware of a law
adopted by the Tennessee legislature which enabled the Company to lease all of
AMOCO's prior acreage. The Company filed for a declaratory judgment as to its
right to lease AMOCO's prior acreage. The Company was ultimately successful in
winning all right, title and interest in all of AMOCO's prior leases in a
precedent setting Supreme Court case.

            In July 1995 after completion of the Purchase Agreement with IRC,
the Company acquired the Swan Creek Leases. These leases provide for a landowner
royalty of 12.5%.

            In July 1998 the Company completed the first phase ("Phase I") of
its pipeline in the Swan Creek Field, a 30 mile pipeline made of 6 and 8 inch
steel pipe running from the Swan Creek Field into the main city gate of
Rogersville, Tennessee. With the assistance of the Tennessee Valley Authority
("TVA"), the Company was successful in utilizing TVA's right-of-way along its
main power line grid from the Swan Creek Field to the Hawkins County Gas Utility
District located in Rogersville. The cost of constructing Phase I of the
pipeline was approximately $4,200,000.

            Having completed Phase I of its pipeline, in July 1998 the Company
began selling gas to Hawkins County Utility District which services residential,
municipal and industrial customers in the Hawkins County area, pursuant to a
written contract entered into on September 26, 1996. During the period from
August 1998 through December 31, 1998 the Company delivered 46,776 cubic feet of
gas to Hawkins County Utility District.

            During the period from January 1, 1999 through March 23, 1999
Hawkins County Utility District took only 477 Mcf of gas ("Mcf" are units of one
thousand cubic feet of gas) from the Company. Although Hawkins County Utility
District could take gas in greater quantities, it declined to do so. Pursuant to
its original contract, it was not obligated to purchase any specific amount of
gas. The contract with the Hawkins County Utility District was renegotiated and
an Amendment Agreement was entered into on October 19, 1999 whereby the Hawkins
County Utility District committed to take a minimum of 500 Mcf and a maximum of
4,000 Mcf of gas per day with an option to purchase up to an additional 3,000
MCF per day. Pursuant to this Agreement, the Hawkins County Utility District
began purchasing gas from the Company as of November 2, 1999. Hawkins County has
purchased relatively small quantities of gas which the

                                       5



Company was able to blend from certain wells to provide gas which contains less
than 4% nitrogen. Hawkins County's position is that it is not required to
purchase contract volumes unless the nitrogen content is less than 4%, although
the Company has demonstrated that its gas, with a nitrogen content of
approximately 4.5% is interchangeable with 4% gas. Since November 2, 1999,
Hawkins County Utility District has purchased 3,910 Mcf of gas. The Company
stands ready to deliver additional quantities of gas, but there can be no
assurances that Hawkins County will purchase additional quantities of gas.

            On November 18, 1999, the Company entered into an agreement with
Eastman Chemical Company ("Eastman") which provides that the Company will
deliver daily to Eastman's plant in Kingsport a minimum of the lesser of (i)
5,000 MMBtu's (MMBtu means one million British thermal units which is the
equivalent of approximately one thousand cubic feet of gas) or (ii) forty
percent (40%) of the natural gas requirements of Eastman's plant and a maximum
of 15,000 MMBtu's per day. Under the terms of the agreement, the Company has the
option to install facilities to treat the delivered gas so that the total
non-hydrocarbon content of the delivered gas is not greater than two percent
(2%). This will allow the gas to be used in certain processes in the Eastman
plant requiring low levels of non-hydrocarbons. If the Company elects to perform
this option by installing additional facilities, the minimum daily amount of gas
to be purchased by Eastman from the Company will increase to the lesser of
(i)10,000 MMBtu's or (ii) eighty percent (80%) of the natural gas requirements
of Eastman's chemical plant.

            On March 27, 2000, the Company and Eastman signed an amendment to
the agreement permitting the Company a further option with respect to the
allowable level of non-hydrocarbons in the delivered gas. This amendment gives
the Company the further option to tender gas without treatment, at a minimum
volume of 10,000 MMBtu's per day, in consideration of which the Company agrees
to accept a price reduction of five cents per MMBtu for the volumes per day
between 5,000 and 10,000 MMBtu's per day under the pricing structure in place
under the original agreement. To date, none of the gas sold by the Company to
Eastman exceeds the allowable level of non-hydrocarbons permitted under the
agreement and does not require treatment.

            Under the agreement as amended March 27, 2000, Eastman agreed to pay
the Company the index price plus $0.10 for all natural gas quantities up to
5,000 MMBtu's delivered per day, the index price plus $0.05 for all quantities
in excess of 5,000 MMBtu's per day and the index price for all quantities in
excess of 15,000 MMBtu's per day. The index price means the price per MMBtu
published in McGraw-Hill's INSIDE F.E.R.C Gas Market Report equal to the Henry
Hub price index as shown in the table labeled Market Center Spot Gas Prices.
During the six months ended February 28, 2002, the index price has ranged from a
high of $3.19 per MMBtu in August 2001 to a low of $1.86 in October 2001.

            The agreement with Eastman is for a term of twenty years and will be
automatically extended, if the parties agree, for successive terms of one year.
The initial term of the agreement was to commence upon the Company's completion
of construction of Phase II of its pipeline and connection to Eastman's
facilities and once commercial operation of that facility

                                       6



was approved. Pursuant to its agreement with Eastman, completion of construction
of Phase II of the pipeline was originally to be made by December 31, 2000.
However, Eastman subsequently agreed to extend the completion date of
construction to March 31, 2001.

            Because the Company is required to enter into hedging agreements in
fiscal 2002 pursuant to its credit facility agreement with Bank One, this may
have an effect on the revenues it receives from actual sales of gas during that
period. Under the credit facility agreement with Bank One, the volume made
subject to the initial hedging agreement was not to be based on the Company's
actual sales volumes. Under its present hedging agreement with Bank One which
terminates on July 31, 2002, if the index price on a theoretical volume of 3,500
MMBtu per day of natural gas ranges between $2.50 and $3.01per MMBtu the
Company's hedging will have no effect. However, if the index price falls below
$2.50 per MMBtu the Company s hedging agreement will result in it actually
receiving from Bank One under the hedge agreement, the difference between the
actual price and $2.50 for the hedged volume of natural gas. If the index price
rises above $3.01 per MMBtu the Company's hedging agreement will result in it
actually paying to Bank One under the hedge agreement, the difference per MMBtu
between the actual price and $3.01 for the hedged volume of natural gas.

            On January 25, 2000, the Company's wholly owned subsidiary, Tengasco
Pipeline Corporation ("Tengasco Pipeline"), signed a franchise agreement to
install and operate new natural gas utility services to residential, commercial
and industrial users in Hancock County, Tennessee for the Powell Valley Utility
District. The Powell Valley District has no existing natural gas facilities and
the system to be installed by Tengasco Pipeline will initially extend to schools
and small customers, and will be gradually expanded over time to serve as many
of the 6,900 residents of the County as is economically feasible. Tengasco
Pipeline will purchase gas from the Company on behalf of the District and it
will be resold at an average retail price of about $8.00 Mcf. Under the
franchise agreement, which has an initial term of ten years and may be renewed
for an additional ten years, Tengasco Pipeline will receive 95% of the gross
proceeds of the sale of gas for its services under the agreement. In June, 2000,
Tengasco Pipeline began installation of the necessary facilities to begin to
serve up to 1,500 residential and industrial consumers in the City of
Sneedville, county seat of Hancock County. The Company's existing eight inch
main line from its Swan Creek Field passes through the city limits of
Sneedville. A one-half mile of interconnecting pipeline from the Company's
existing pipeline was installed, as well as an additional four miles of pipeline
as the initial phase of the distribution system. The construction was completed
and delivery of initial volumes of gas into the system from the Swan Creek field
occurred on December 27, 2000. The cost of construction of these facilities was
approximately $133,000. Upon enactment of initial rate schedules by the Powell
Valley Utility District, initial sales began in January, 2001 to a small number
of residential and small commercial customers. Tengasco Pipeline has contracted
with the City of Sneedville to conduct billing and installation activities in
connection with the day to day operation of this system. On March 11, 2002, the
Company began delivering gas to its first commercial customer in a new
industrial park in Sneedville, Kiefer Built, Inc, an Iowa based manufacturer of
livestock and industrial trailers. The Company hopes to be able to supply gas to
other customers who may move into that industrial park. At this time, no gas
sales agreements for large volume or base load sales have been signed and there
can be no assurances that such agreements will be signed and if

                                       7



signed, it is not possible to predict when such sales may begin or what the
overall volumes of gas sold may be.

            On March 17, 2000, the Company announced that it had entered into an
agreement with the University of Tennessee-Knoxville ("UTK") related to its
hydrocarbon exploration activities in eastern Tennessee. Two UTK geological
scientists, Professor Robert D. Hatcher, Jr., a University of Tennessee/Oak
Ridge National Laboratory Distinguished Scientist in structural and Appalachian
geology and now a Director of the Company, and Dr. Richard T. Williams, Ph. D.,
Associate Professor in geophysics, provide the Company with assistance in
interpreting the structure of the Swan Creek Field and geophysical data from
that field. New seismic data will permit better subsurface imaging and more
exact determination of the size of the Swan Creek Field.

            A major outgrowth of the Company's relationship with UTK is a new
graduate fellowship, called the Tengasco Fellowship, to be awarded in UTK's
Department of Geological Sciences to an outstanding graduate student interested
in pursuing a career in the petroleum industry. The fellowship will provide a
living allowance and tuition for the student. Two UTK PH. D. students receiving
financial support from the Company have already provided computer generated 3-D
images of the Swan Creek Field. These images have helped outline the subsurface
shape of the hydrocarbon producing zone to allow the Company to better
understand where additional production might be located.

            The Company and the University of Tennessee have signed a Memorandum
of Agreement concerning cooperation between them in the use of vibreosis seismic
equipment, primarily a large vibrator truck, owned by the University that is to
be used in the Company's exploration program. Under the agreement, the Company
is entitled to use the equipment in exchange for performing required routine
expert maintenance and upkeep on the University's equipment, the cost of which
exceeds the University's available resources. The University-owned truck is
identical to two trucks owned by the Company and used in its seismic exploration
program.

            In April 2000, Tengasco Pipeline commenced construction of Phase II
of the Company's pipeline. When the pipeline was completed on March 8, 2001, an
additional 35 miles of pipeline of 8 and 12 inch pipe had been laid at a cost to
date of approximately $11.1 million extending the Company's pipeline from a
point near the terminus of Phase I and connecting to an existing pipeline and
meter station at Eastman's chemical plant. The completed pipeline extends 65
miles from the Company's Swan Creek Field to Kingsport, Tennessee.

            On March 30, 2001, the Company signed a contract to supply natural
gas to BAE SYSTEMS Ordnance Systems Inc. ("BAE"), operator of the Holston Army
Ammunition Plant in Kingsport, Tennessee for a period of twenty years. Natural
gas is used at the Holston Army ammunition facility to fire boilers and furnaces
for steam production and process operations utilized in the manufacture of
explosives by BAE for the United States military. Under the agreement, BAE's
daily purchases of natural gas will be between 1.8 million and 5 million cubic

                                       8



feet, and volume could increase significantly over the life of the agreement as
BAE conducts additional operations at the Holston facility. The contract calls
for a price based on the monthly published index price for spot sales of gas at
the Henry Hub plus five cents per MMBtu in the same manner as the price is
calculated in the contract between the Company and Eastman. The contract with
BAE provides that the Company's obligation to sell gas to BAE is subject to
availability of gas after the Company satisfies its obligation in accordance
with Eastman's needs up to 15 MMcf per day.

            The Company will be the sole supplier of natural gas to BAE under
this agreement and the Company has the only gas pipeline located on the grounds
of the 6,000-acre Holston facility. A portion of the Holston facility is being
developed by BAE as the new Holston Business and Technology Park which will
serve as a location for additional commercial and industrial customers. The
Company's presence at the Holston Business and Technology Park will provide the
availability of gas service to other customers and is considered by BAE to be an
important factor in the development of the Park, as well as the source of
potential new customers for the Company. Although the Company's gas production
from its Swan Creek Field has not been sufficient to supply the quantity of gas
that Eastman has been willing to purchase under its agreement with the Company,
Eastman has not, to date, objected to sales of gas by the Company to BAE and
others.

            During 2001, the Company had 29 producing gas wells and six
producing oil wells in the Swan Creek Field. Miller Petroleum, Inc. and others
had a participating interest in twelve of these wells. See, "Item 2 -
Description of Property - Property Location, Facilities, Size and Nature of
Ownership." In total, the Company has completed 44 wells and two wells are in
the process of being completed in the Swan Creek Field. Of the completed wells,
nine are shut-in or currently not producing because these wells are either not
presently producing commercial quantities of hydrocarbons, or are awaiting
workover or tie-in to the Company's pipeline. However, certain of these wells
may not be tied-in to the Company's pipeline since the expense of connection
over rough terrain may not be justified in view of the expected volumes to be
produced. The majority of these gas wells were drilled prior to the completion
of the pipeline system so only test data was available prior to full production.

            The Company began delivering gas through its pipeline to BAE on
April 4, 2001 and to Eastman on May 24, 2001. June's daily production was
4,936.2 Mcf and July's daily production average increased to 5,497 Mcf per day
and the Company anticipated that it would reach its goal of delivering 10MMcf
per day to Eastman and BAE by the end of 2001. However, the Company was unable
to attain that production target due to the in-flow of substantially more fluids
in the existing wells than expected. These fluids entered the wells from the
boreholes. The fluids obstructed and significantly reduced the flow of gas from
the existing wells and required the Company to perform substantial additional
work and repairs to increase the production from existing wells. First, it was
necessary to install a drip tank system to eliminate the fluids in the pipeline.
Next, the Company had to install mechanical devices in many of the existing
wells to reduce the fluid problems. As a result of this repair work, many of the
existing wells had to be shut down while the repairs were made. In addition, the
Company temporarily ceased drilling new

                                       9



wells in order to concentrate its efforts on the repairs. These fluid entry
problems along with natural production declines and suspension of drilling
activity have led to production totals lower than anticipated. The decline
appears to be stabilizing and leveling off at approximately 3MMcf of gas per day
from the Swan Creek Field.

            To date, two types of mechanical devices, pump jacks and gas lifts
have been installed in 11 of the Company's existing wells, and act as mechanisms
to remove the fluids and stabilize erratic behavior, such as large swings in
individual well production. These devices have had a variety of effects on
production totals of existing wells. On some individual wells production has
more than doubled, while on others, although production totals have not
increased, the monthly average production volume has become constant and more
predictable. Some of the decline in production from existing wells is also
related to natural fracture production and the associated decline to steadier
flow rates from such a two-part system. The natural storage system for the
formation in the Swan Creek Field to which the Company's existing wells have
been drilled and from which gas is currently being produced, i.e, the Knox
Formation, has both primary and secondary porosity distributed throughout the
dolomite rock that makes up this complex formation. All types of gas wells
experience some type of decline as production takes place. While the natural
fractures enhance production cumulative overall and contribute to longevity, the
initial production declines can be significant. These natural declines were
expected and do not diminish either the shut in pressure or the Company's actual
reserves in the Swan Creek Field. They do, however, suggest the production rates
from some of the smaller wells will be slower, but production will last longer
than expected. The Company is currently considering a plan to customize an
acidizing program for some of its more productive existing wells which might
lead to more rapid recovery and accelerate production. Such a program would be
targeted to 3 or 4 of the existing wells. It is unknown at this time what the
impact such a program might have. The Company also plans to install additional
gas lifts in 5 more of the existing wells and in the other existing wells as
needed, although not all wells have fluid problems.

            In addition to the work on existing wells, the Company intends to
drill several new wells within the Knox formation. Because the Knox formation
has been defined by the accumulation of data from the previously drilled wells,
new locations and new wells are expected to contribute significantly to
achieving increases to production totals. Collecting the geological history from
the existing wells has indicated that the Company has three wells that need to
be relocated to a more productive part of the structure. The Company also has
two existing wells which fluid control methods can only be addressed by
re-drilling both locations. The Company will "twin" one of these wells, turning
the non-productive gas well into a shallow oil well, and re-drill the deeper gas
zone with efforts at controlling production of fluids from the start. The
Company will plug the other existing well because of mechanically damaged pipe
and then "relocate" this well to a more promising location. Re-drilling of the
two existing wells is expected to begin in April. The Company believes that
these five new wells can be strategically located due to the high degree of
information it has developed from its existing wells as to the shape and key
producing horizons of the Knox Formation. The Company is hopeful that production
from these new wells will be in line with the production from its best existing
wells in the Swan Creek Field and will have a noticeable effect on increasing
the total production from the Field.

                                       10



            The Company expects the repair work to existing wells and the
drilling of the five new wells in the Knox formation to be completed in the next
six months. Although no assurances can be made, the Company believes that, once
this work is completed and the new wells are drilled, production from the Swan
Creek Field will substantially increase by the end of 2002.

            The Company also intends to commence drilling in other formations in
its Swan Creek Field. To date, drilling in the Swan Creek Field has focused on
production of gas primarily from the Knox formation. This is a lower Ordovician
Dolomite, and the heart of the anticline structure at Swan Creek. However,
immediately adjacent to this formation and shallower over these formations are
other formations which the Company believes have a potential for gas production.
The Stones River and Trenton formations hold the possibility for both oil and
gas and have produced some gas to date. These Upper Ordovician formations have
not been a primary target for gas production, but the shallower depths needed
for drilling and the moderate gas production might make a potential subsequent
source for additional gas production. With the completion of only one well in
the Trenton formation which is producing approximately 100Mcf per day, the
impact of these targets is proportional both to an area and an extent that is
yet undefined. The Company also plans to drill a 12,000 to 15,000 feet deep test
well in the Company's Swan Creek field, which the Company believes may have high
potential for significant additional volumes of natural gas. The current wells
in this field are all approximately 5,000 feet deep. Drilling is expected to
commence on or before December 31, 2002. The target of this drilling will be the
Conasauga and Rome formations from the lower and middle Cambrian ages.

            As of the present time the Company does not anticipate that it will
be able to fulfill the maximum delivery requirements under its contracts with
Eastman and BAE from its existing wells. However, based on the reserve analysis
report of the Swan Creek Field, the Company believes that once it continues its
program of drilling new wells in the Swan Creek Field it will eventually produce
sufficient gas to meet these requirements. No assurances, however, can be given
that it will meet these goals.

            Oil production in the Swan Creek Field declined from 47,281 barrels
in 2000 to 30,323 barrels in 2001. This decline was due primarily from the
natural decline process in existing wells and as a result of work on existing
wells to deal with the fluid problems discussed above. The Company is presently
reviewing key areas for drilling of new oil wells in the Swan Creek Field and it
is anticipated that in the fourth quarter of 2002 drilling of new wells to
increase oil production will begin. In addition, chemical treatments to enhance
production from existing wells are presently being studied and may be undertaken
if the Company believes the results of such treatments will be cost effective.

                                       11



      2.    THE KANSAS PROPERTIES

            The Company, as of December 31, 1997 acquired the Kansas Properties
which presently includes 134 producing oil wells and 51 producing gas wells in
the vicinity of Hays, Kansas and a gathering system including 50 miles of
pipeline. The Company also acquired 37 other wells which now serve as saltwater
disposal wells in the vicinity of Hays, Kansas. Saltwater wells are used to
store saltwater encountered in the drilling process that would otherwise have to
be transported out of the area. These saltwater disposal wells reduce operating
costs by eliminating the need for transport. The aggregate production for the
Kansas Properties at present is approximately one MMcf and 400 barrels of oil
per day. Revenue for the Kansas Properties is approximately $315,000 per month.

            The Company has hired a full time geologist in Kansas to oversee
operations in the Kansas Properties. Recent well workovers in Kansas have
improved production with an estimated $1.80 increase in revenue for every $1.00
in work expense. The Company plans to drill five new wells in Ellis and Rush
Counties, Kansas on its existing leases in response to drilling activity in the
area establishing new areas of production. In 2001 the Company successfully
drilled the Dick No. 7 well in Kansas and completed the well as an oil well. The
Company is also engaged in gathering for a fee the gas produced from wells owned
by others located in Kansas adjacent to the Company's wells and near the
Company's gathering lines. The Company's plans for its Kansas properties include
maintaining the current productive capacity of its existing wells through normal
workovers and maintenance of the wells, performing gathering or sales services
for adjacent producers, and expanding the Company's own production through
drilling these additional wells. Such plans are subject to the availability of
funds to perform the work.

            In addition, there are several capital development projects that are
available with respect to the Kansas Properties which include recompletion of
wells and major workovers to increase current production. These projects when
completed may increase production in Kansas. Management, however, has made the
decision not to perform this work at the present time, as the Company does not
presently have the funds necessary to perform these projects. It will however,
reconsider its decision if such funds become available through the Company's
operations or other sources of financing.


      3.    OTHER AREAS OF DEVELOPMENT

            On August 10, 2001, the Company and Penn Virginia Oil & Gas
Corporation, a subsidiary of Penn Virginia Corporation entered into a joint
operating agreement to explore, drill and develop a certain area of mutual
interest in East Tennessee and southern Virginia. Both companies will share
equally all lease acquisition costs, seismic exploration and analysis costs,
drilling and operating costs, as well as the proceeds from production. Penn
Virginia is named as the initial operator under the joint operating agreement.
Penn Virginia has begun the seismic program and drilling operations will be
based on the results of seismic analysis. No assurances

                                       12



can be made at this time of the amount of reserves that may be discovered or
produced in the course of this venture.

            The Company is presently exploring other geological structures in
the East Tennessee area that are similar to the Swan Creek structure and which
the Company believes have a high probability of producing hydrocarbons. The
Company has either acquired seismic data on these structures from third-party
sources, or is conducting its own seismic studies with its own trucks and
equipment. The seismic data is being analyzed at the University of Tennessee as
part of the strategic alliance between the Company and the University of
Tennessee. The seismic analysis is continuing and related leasing activities
have begun based on initial analysis of seismic results. The Company plans to
conduct exploration activities in these areas. The first of these locations will
be in Cocke County, Tennessee which is approximately 40 miles southeast of the
Swan Creek Field. The Company, in conjunction with Southeast Gas & Oil Corp. of
Newport, Tennessee, plans to drill an approximately 6,000-foot exploratory well
to the Knox formation. If the well is successful this will lead to additional
wells being drilled for new field evaluation. The Company also expects to
explore one other new structure this year.


GOVERNMENTAL REGULATIONS

            The Company is subject to numerous state and federal regulations,
environmental and otherwise, that may have a substantial negative effect on its
ability to operate at a profit. For a discussion of the risks involved as a
result of such regulations, see, "Effect of Existing or Probable Governmental
Regulations on Business" and "Costs and Effects of Compliance with Environmental
Laws" hereinafter in this section.


PRINCIPAL PRODUCTS OR SERVICES AND MARKETS

            The Company will conduct exploration and production activities to
produce crude oil and natural gas. The principal markets for these commodities
are local refining companies, local utilities and private industry end users,
which purchase the crude oil, and local utilities, private industry end users,
and natural gas marketing companies, which purchase the natural gas.

            Gas production from the Swan Creek field can presently be delivered
through the Company's completed pipeline to the Powell Valley Utility District
in Hancock County, Eastman and BAE in Sullivan County, as well as other
industrial customers in the Kingsport area. The Company has acquired all
necessary regulatory approvals and 100% of necessary property rights for the
pipeline system. The Company's pipeline will not only provide transportation
service for gas produced from the Company's wells, but will provide
transportation of gas for small independent producers in the local area as well.
Direct sales could also be made to some local towns, industries and utility
districts.

                                       13



            Natural gas from the Kansas Properties is delivered to
Kansas-Nebraska Energy, Inc. in Bushton, Kansas. At present, crude oil is sold
to the National Cooperative Refining Association in McPherson, Kansas, 120 miles
from Hays. National Cooperative is solely responsible for transportation of the
oil it purchases whether by truck or pipeline. There is a limited market in the
area and the only other purchaser of crude oil is EOTT Energy Operations Ltd.

DRILLING EQUIPMENT

            In addition to the drilling equipment and vehicles which it acquired
from IRC, on November 1, 2000, the Company purchased an Ingersoll Rand RD20
drilling rig and related equipment from Ratliff Farms, Inc., an affiliate of
Malcolm E. Ratliff, Chief Executive Officer and Chairman of the Board of
Directors of the Company. See "Certain Relationships and Related Transactions" -
"Transactions with Management and Others." All of this equipment is in
satisfactory operating condition. The Company also receives contract drilling
services from Miller Petroleum, Inc. and Union Drilling in the Swan Creek Field.


DISTRIBUTION METHODS OF PRODUCTS OR SERVICES

            Crude oil is normally delivered to refineries in Tennessee and
Kansas by tank truck and natural gas is distributed and transported via
pipeline.

COMPETITIVE BUSINESS CONDITIONS, COMPETITIVE POSITION IN THE INDUSTRY AND
METHODS OF COMPETITION

            The Company's contemplated oil and gas exploration activities in the
States of Tennessee and Kansas will be undertaken in a highly competitive and
speculative business atmosphere. In seeking any other suitable oil and gas
properties for acquisition, the Company will be competing with a number of other
companies, including large oil and gas companies and other independent operators
with greater financial resources. Management does not believe that the Company's
initial competitive position in the oil and gas industry will be significant.

            Its principal competitors in the State of Tennessee are Ashland Oil
and Miller Services. In the area of the Company's pipeline, the Company is in a
favorable position since it owns the only pipeline within a 20 mile radius.
Within that area, the Company owns leases on approximately 50,500 acres. There
are numerous producers in the area of the Kansas Properties. Some are larger and
some smaller than the Company. However, management expects that it will be able
to sell all of the gas and oil that the Kansas Properties produce.

            Management does not foresee any difficulties in procuring drilling
rigs or the

                                       14



manpower to run them in the area of its operations. The experience of management
has been that in most instances, drilling rigs have only a one or two day
waiting period; however, several factors, including increased competition in the
area, may limit the availability of drilling rigs, rig operators and related
personnel and/or equipment; such an event may have a significant adverse impact
on the profitability of the Company's operations.

            The Company anticipates no difficulty in procuring well drilling
permits which are obtained from the Tennessee Oil and Gas Board. They are
usually issued within one week of application. The Company generally does not
apply for a permit until it is actually ready to commence drilling operations.

            The prices of the Company's products are controlled by the world oil
market and the United States natural gas market; thus, competitive pricing
behaviors are considered unlikely; however, competition in the oil and gas
exploration industry exists in the form of competition to acquire the most
promising acreage blocks and obtaining the most favorable prices for
transporting the product. Management believes that the Company is
well-positioned in these areas because of the transmission lines that run
through and adjacent to the properties leased by the Company and because the
Company holds relatively large acreage blocks in what management believes are
promising areas.


SOURCES AND AVAILABILITY OF RAW MATERIALS
AND NAMES OF PRINCIPAL SUPPLIERS

            Excluding the development of oil and gas reserves and the production
of oil and gas, the Company's operations are not dependent on the acquisition of
any raw materials. See, "Competitive Business Conditions, Competitive Position
in the Industry and Methods of Competition" set forth above.


DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS

            The Company is presently dependent upon a small number of customers
for the sale of gas from the Swan Creek Field, principally Eastman and BAE, and
other industrial customers in the Kingsport area with which the Company may
enter into gas sales contracts.

            Natural gas from the Kansas Properties is delivered to
Kansas-Nebraska Energy, Inc. in Bushton, Kansas. At present, crude oil from the
Kansas Properties is being trucked and transported through pipelines to the
National Cooperative Refining Association in McPherson, Kansas, 120 miles from
Hays, Kansas. National Cooperative is solely responsible for transportation of
products whether by truck or pipeline. There is a limited market in the area and
the only other purchaser of crude oil is EOTT Energy Operations Ltd. The
Company, however, anticipates that it will be able to sell all of the oil and
gas produced from the Kansas Properties.

                                       15



PATENTS, TRADEMARKS, LICENSES, FRANCHISES, CONCESSIONS,
ROYALTY AGREEMENTS OR LABOR CONTRACTS, INCLUDING DURATION

            Royalty agreements relating to oil and gas production are standard
in the industry. The amount of the Company's royalty payments varies from lease
to lease. The amounts of the royalties on each of the Company's leases may be
obtained from the Company.


NEED FOR GOVERNMENTAL APPROVAL OF PRINCIPAL PRODUCTS OR SERVICES

            None of the principal products offered by the Company require
governmental approval; however, permits are required for drilling oil or gas
wells. See, "Effect of Existing or Probable Governmental Regulations on
Business" below in this section.

            The transportation service offered by Tengasco Pipeline is subject
to regulation by the Tennessee Regulatory Authority to the extent of certain
construction, safety, tariff rates and charges, and nondiscrimination
requirements under state law. These requirements are typical of those imposed on
regulated utilities. Tengasco Pipeline has been granted a certificate of public
convenience and necessity to operate as a pipeline utility in Hancock, Hawkins,
and Claiborne counties, Tennessee. In addition, Tengasco Pipeline was authorized
to construct and operate the portion of Phase II of the pipeline to Eastman by
resolution of the City of Kingsport in May, 2000. This resolution was approved
by the Tennessee Regulatory Authority as required by state law. All approvals
for the Company's pipeline have been granted.

            The City of Kingsport, Tennessee has also enacted an ordinance dated
June 6, 2000 granting to Tengasco Pipeline a franchise for twenty years to
construct, maintain and operate a gas system to import, transport, and sell
natural gas to the City of Kingsport and its inhabitants, institutions and
businesses for domestic, commercial, industrial and institutional uses. This
ordinance and the franchise agreement it authorizes also require approval of the
Tennessee Regulatory Authority under state law. Now that the pipeline to Eastman
has been completed, Tengasco Pipeline and the City of Kingsport will initiate
the required approval process for the ordinance and franchise agreement. The
Company is in discussions with the City of Kingsport in preparation for filing
for regulatory approval and anticipates that the filing will be made in the next
sixty days. Although the Company anticipates that regulatory approval will be
granted, there can be no assurances that it will be granted, or that such
approval may be granted in a timely manner, or that such approval may not be
limited in some manner by the Tennessee Regulatory Authority as is expressly
permitted under state law.

            Tengasco Pipeline presently has all required tariffs and approvals
necessary to transport natural gas to all customers of the Company. See, "Effect
of Existing or Probable Governmental Regulations on Business" below in this
section.

                                       16



EFFECT OF EXISTING OR PROBABLE GOVERNMENTAL REGULATIONS ON BUSINESS

            Exploration and production activities relating to oil and gas leases
are subject to numerous environmental laws, rules and regulations. The Federal
Clean Water Act requires the Company to construct a fresh water containment
barrier between the surface of each drilling site and the underlying water
table. This involves the insertion of a seven-inch diameter steel casing into
each well, with cement on the outside of the casing. The Company has fully
complied with this environmental regulation, the cost of which is approximately
$10,000 per well.

            The State of Tennessee also requires the posting of a bond to ensure
that the Company's wells are properly plugged when abandoned. A separate $2,000
bond is required for each well drilled. The Company currently has the requisite
amount of bonds on deposit with the State of Tennessee.

            As part of the Company's purchase of the Kansas Properties it
acquired a statewide permit to drill in Kansas. Applications under such permit
are applied for and issued within one-two weeks prior to drilling. At the
present time, the State of Kansas does not require the posting of a bond either
for permitting or to insure that the Company's wells are properly plugged when
abandoned. All of the wells in the Kansas Properties have all permits required
and are in compliance with the laws of the State of Kansas.

            The Company's operations are also subject to laws and regulations
requiring removal and cleanup of environmental damages under certain
circumstances. Laws and regulations protecting the environment have generally
become more stringent in recent years, and may in certain circumstances impose
"strict liability," rendering a corporation liable for environmental damages
without regard to negligence or fault on the part of such corporation. Such laws
and regulations may expose the Company to liability for the conduct of
operations or conditions caused by others, or for acts of the Company which were
in compliance with all applicable laws at the time such acts were performed. The
modification of existing laws or regulations or the adoption of new laws or
regulations relating to environmental matters could have a material adverse
effect on the Company's operations. In addition, the Company's existing and
proposed operations could result in liability for fires, blowouts, oil spills,
discharge of hazardous materials into surface and subsurface aquifers and other
environmental damage, any one of which could result in personal injury, loss of
life, property damage or destruction or suspension of operations.

            The Company believes it is presently in compliance with all
applicable federal, state or local environmental laws, rules or regulations;
however, continued compliance (or failure to comply) and future legislation may
have an adverse impact on the Company's present and contemplated business
operations.

            The Company's Board of Directors adopted resolutions to form an
Environmental Response Policy and Emergency Action Response Policy Program. A
plan was adopted which provides for the erection of signs at each well and at
strategic locations along the pipeline

                                       17



containing telephone numbers of the Company's office and the home telephone
numbers of key personnel. A list is maintained at the Company's office and at
the home of key personnel listing phone numbers for fire, police, emergency
services and Company employees who will be needed to deal with emergencies.

            The foregoing is only a brief summary of some of the existing
environmental laws, rules and regulations to which the Company's business
operations are subject, and there are many others, the effects of which could
have an adverse impact on the Company. Future legislation in this area will no
doubt be enacted and revisions will be made in current laws. No assurance can be
given as to what effect these present and future laws, rules and regulations
will have on the Company's current and future operations. See, "Risk Factors",
below.


RESEARCH AND DEVELOPMENT

            The Company has not expended any material amount in research and
development activities during the last two fiscal years. Research done in
conjunction with its exploration activities will consist primarily of conducting
seismic surveys on the lease blocks. This work will be performed by the
Company's geology and engineering personnel and other employees and will not
have a material cost of anything more than standard salaries.


COST AND EFFECTS OF COMPLIANCE WITH ENVIRONMENTAL LAWS

            See, "Effect of Existing or Probable Governmental Regulations on
Business" set forth above in this section.


NUMBER OF TOTAL EMPLOYEES AND NUMBER OF FULL-TIME EMPLOYEES

            The Company presently has thirty-nine full time employees and no
part-time employees.


RISK FACTORS

            In addition to the other information in this document, investors in
the Company's common stock should consider carefully the following risks:

            VOLATILE OIL AND GAS PRICES CAN MATERIALLY AFFECT THE COMPANY. The
Company's future financial condition and results of operations will depend upon
the prices received for the Company's oil and natural gas production and the
costs of acquiring, finding, developing and producing reserves. Prices for oil
and natural gas are subject to fluctuations in

                                       18



response to relatively minor changes in supply, market uncertainty and a variety
of additional factors that are beyond the control of the Company. These factors
include worldwide political instability (especially in the Middle East and other
oil-producing regions), the foreign supply of oil and gas, the price of foreign
imports, the level of drilling activity, the level of consumer product demand,
government regulations and taxes, the price and availability of alternative
fuels and the overall economic environment. A substantial or extended decline in
oil and gas prices would have a material adverse effect on the Company's
financial position, results of operations, quantities of oil and gas that may be
economically produced, and access to capital. Oil and natural gas prices have
historically been and are likely to continue to be volatile. This volatility
makes it difficult to estimate with precision the value of producing properties
in acquisitions and to budget and project the return on exploration and
development projects involving the Company's oil and gas properties. In
addition, unusually volatile prices often disrupt the market for oil and gas
properties, as buyers and sellers have more difficulty agreeing on the purchase
price of properties.

            UNCERTAINTY IN CALCULATING RESERVES; RATES OF PRODUCTION;
DEVELOPMENT EXPENDITURES; CASH FLOWS . There are numerous uncertainties inherent
in estimating quantities of oil and natural gas reserves of any category and in
projecting future rates of production and timing of development expenditures,
which underlie the reserve estimates, including many factors beyond the
Company's control. Reserve data represent only estimates. In addition, the
estimates of future net cash flows from the Company's proved reserves and their
present value are based upon various assumptions about future production levels,
prices and costs that may prove to be incorrect over time. Any significant
variance from the assumptions could result in the actual quantity of the
Company's reserves and future net cash flows from them being materially
different from the estimates. In addition, the Company's estimated reserves may
be subject to downward or upward revision based upon production history, results
of future exploration and development, prevailing oil and gas prices, operating
and development costs and other factors.

            OIL AND GAS OPERATIONS INVOLVE SUBSTANTIAL COSTS AND ARE SUBJECT TO
VARIOUS ECONOMIC RISKS. The oil and gas operations of the Company are subject to
the economic risks typically associated with exploration, development and
production activities, including the necessity of significant expenditures to
locate and acquire producing properties and to drill exploratory wells. In
conducting exploration and development activities, the presence of unanticipated
pressure or irregularities in formations, miscalculations or accidents may cause
the Company's exploration, development and production activities to be
unsuccessful. This could result in a total loss of the Company's investment. In
addition, the cost and timing of drilling, completing and operating wells is
often uncertain.

            SIGNIFICANT CAPITAL REQUIREMENTS. The Company must make a
substantial amount of capital expenditures for the acquisition, exploration and
development of oil and gas reserves. Historically, the Company has paid for
these expenditures with cash from operating activities, proceeds from debt and
equity financings and asset sales. The Company's ability to re-work existing
wells and complete its drilling program in the Swan Creek Field is dependent
upon its ability to fund these costs. Although the Company anticipated that by
this time it would be able

                                       19



to fund the completion of its drilling program in the Swan Creek Field from
revenues from the sales of gas, it is unable to do so. Further, the Company's
credit facility with Bank One Corp. has been reduced by Bank One, although the
Company vigorously disputes the Bank's actions. At the present time and until
the Company is able to increase its production and sales of gas and to resolve
its dispute with Bank One, it must obtain the necessary funds to complete its
drilling program from other sources such as equity investment, bank loan or a
joint venture with another company. Although the Company believes that it will
be able to procure such financing, there can be no assurances that it will be
able to obtain such funding. In addition, the Company's revenues or cash flows
could be reduced because of lower oil and gas prices or for some other reason.
If the Company's revenues or cash flows decrease and the Company is unable to
procure alternative financing, this would require the Company to reduce
production over time. Where the Company is not the majority owner or operator of
an oil and gas project, it may have no control over the timing or amount of
capital expenditures associated with the particular project. If the Company
cannot fund its capital expenditures, its interests in some projects may be
reduced or forfeited.

            COSTS INCURRED TO CONFORM TO GOVERNMENT REGULATION OF THE OIL AND
GAS INDUSTRY. The Company's exploration, production and marketing operations are
regulated extensively at the federal, state and local levels. The Company has
made and will continue to make large expenditures in its efforts to comply with
the requirements of environmental and other regulations. Further, the oil and
gas regulatory environment could change in ways that might substantially
increase these costs. Hydrocarbon-producing states regulate conservation
practices and the protection of correlative rights. These regulations affect the
Company's operations and limit the quantity of hydrocarbons the Company may
produce and sell. In addition, at the U.S. federal level, the Federal Energy
Regulatory Commission regulates interstate transportation of natural gas under
the Natural Gas Act. Other regulated matters include marketing, pricing,
transportation and valuation of royalty payments.

            COSTS INCURRED RELATED TO ENVIRONMENTAL MATTERS. The Company, as an
owner or lessee and operator of oil and gas properties, is subject to various
federal, state and local laws and regulations relating to discharge of materials
into, and protection of, the environment. These laws and regulations may, among
other things, impose liability on the lessee under an oil and gas lease for the
cost of pollution clean-up resulting from operations, subject the lessee to
liability for pollution damages, and require suspension or cessation of
operations in affected areas.

            The Company maintains insurance coverage, which it believes is
customary in the industry, although it is not fully insured against all
environmental risks. The Company is not aware of any environmental claims
existing as of December 31, 2001, which would have a material impact upon the
Company's financial position or results of operations.

            The Company has made and will continue to make expenditures in its
efforts to comply with these requirements, which it believes are necessary
business costs in the oil and gas industry. The Company has established policies
for continuing compliance with environmental laws and regulations. The costs
incurred by these policies and procedures are inextricably

                                       20



connected to normal operating expenses such that the Company is unable to
separate the expenses related to environmental matters; however, the Company
does not believe any such additional expenses are material to its financial
position or results of operations.

            The Company does not believe that compliance with federal, state or
local provisions regulating the discharge of materials into the environment, or
otherwise relating to the protection of the environment, will have a material
adverse effect upon the capital expenditures, earnings or competitive position
of the Company or its subsidiaries; however, there is no assurance that changes
in or additions to laws or regulations regarding the protection of the
environment will not have such an impact.

            INSURANCE DOES NOT COVER ALL RISKS. Exploration for and production
of oil and natural gas can be hazardous, involving unforeseen occurrences such
as blowouts, cratering, fires and loss of well control, which can result in
damage to or destruction of wells or production facilities, injury to persons,
loss of life, or damage to property or the environment. The Company maintains
insurance against certain losses or liabilities arising from its operations in
accordance with customary industry practices and in amounts that management
believes to be prudent; however, insurance is not available to the Company
against all operational risks.

            HEDGING MAY PREVENT THE COMPANY FROM FULLY BENEFITTING FROM PRICE
INCREASES. The Company has entered into hedging activities for the period from
January 1, 2002 through July 31, 2002, that protect against price deterioration.
To the extent that it does so, it may be prevented from realizing the benefits
of price increases above the levels of the hedges. In addition, the Company is
subject to basis risk when it engages in hedging transactions, particularly
where transportation constraints restrict the Company's ability to deliver oil
and gas volumes at the delivery point to which the hedging transaction is
indexed.

            GENERAL ECONOMIC CONDITIONS. Virtually all of the Company's
operations are subject to the risks and uncertainties of adverse changes in
general economic conditions, the outcome of pending and/or potential legal or
regulatory proceedings, changes in environmental, tax, labor and other laws and
regulations to which the Company is subject, and the condition of the capital
markets utilized by the Company to finance its operations.


ITEM 2. DESCRIPTION OF PROPERTY

PROPERTY LOCATION, FACILITIES, SIZE AND NATURE OF OWNERSHIP

            The Company's Swan Creek Leases are on approximately 50,500 acres in
Hancock, Claiborne, Knox, Jefferson and Union Counties in Tennessee. The initial
terms of these leases vary from one to five years. Many of them can be extended
at the option of the Company by payment of annual rent. Some of them will
terminate unless the Company has commenced

                                       21



drilling. However, the Company does not anticipate any difficulty in continuing
the Swan Creek Leases.

            Morita Properties, Inc., an affiliate of Shigemi Morita, a former
Director of the Company, currently has a 25% working interest in nine of the
Company's existing wells, and a 50% working interest and 6% working interest in
two of the Company's other existing wells. All of these wells are located in the
Swan Creek Field and are presently producing wells. In addition, to those
interests, Morita Properties, Inc. previously owned a 25% working interest in
three of the Company's other existing wells and 12.5% working interest in
another of the Company's wells which it subsequently sold.

            An individual who is not an affiliate of the Company purchased 25%
working interests in two other wells, the Stephon Lawson No. 1 and the Patton
No. 1. Both of these wells are located in the Swan Creek Field and are presently
producing wells.

            Another individual has a 29% revenue interest in the Laura Jean
Lawson No. 3 well by virtue of having contributed her unleased acreage to the
drilling unit and paying her proportionate share of the drilling costs of the
well. The Company was obligated to allow that individual to participate on that
basis in accordance with both customary industry practice and the requirements
of the procedures of the Tennessee Oil and Gas Board in a forced pooling action
brought by the Company to require the acreage to be included in the unit so that
the well could be drilled. The forced pooling procedure was concluded by her
contribution of acreage and agreement to pay proportionate share of drilling
costs. This well is also located in the Swan Creek Field and is a presently
producing well.

            The Company also entered into a farmout agreement with Miller
Petroleum, Inc. ("Miller") for ten wells to be drilled in the Swan Creek Field
with the Company having an option to award up to an additional ten future wells.
All locations were to be mutually agreed upon. Net revenues are to be 81.25% to
Miller and the Company's subsidiary Tengasco Pipeline will transport Miller's
gas. The Company reserved all offset locations to wells drilled under the
farmout agreement. All ten wells have been drilled under the farmout agreement.
The Company acquired back from Miller a 50% working interest from Miller in nine
of those ten wells in addition to its rights under the farmout agreement. In
addition, the Company and Miller have drilled two additional wells on a 50-50
basis, although the Company declined to exercise its option for a ten-well
extension of the farmout agreement. Of the wells in which Miller owns an
interest, six are presently producing.

            Other than the working interests described or referred to in this
Item, the Company retains all other working interests in wells drilled or to be
drilled in the Swan Creek Field.

            Working interest owners in oil and gas wells are entitled to market
their respective shares of production to purchasers other than purchasers with
whom the Company has contracted. Absent such contractual arrangements being made
by the working interest owners, the Company is authorized but is not required to
provide a market for oil or gas attributable to working interest

                                       22



owners' production. At this time, the Company has not agreed to market gas for
any working interest owner to customers other than customers of the Company. If
the Company does agree to market gas for working interest owners to the
Company's customers, the Company will have to agree, at that time, to the terms
of such marketing arrangements and it is possible that as a result of such
arrangements, the Company's revenues from such customers may be correspondingly
reduced. If the working interest owners make their own arrangements to market
their natural gas to other end users along the pipeline which have been served
by East Tennessee Natural Gas, an interstate pipeline, such gas would be
transported through the Company's wholly owned subsidiary Tengasco Pipeline at
published tariff rates. The current published tariff rate is for firm
transportation at a demand charge of five cents per MMBtu per day plus a
commodity charge of $0.80 per MMBtu. If the working interest owners do not
market their production, either independently or through the Company, then their
interest will be treated as not yet produced and will be balanced either when
marketing arrangements are made by such working interest owners or when the well
ceases to produce in accordance with customary industry practice.

            The Kansas Properties contain 138 leases totaling 32,158 acres in
the vicinity of Hays, Kansas. The original term on these leases was from 1 to 10
years and in most cases has expired, however, most leases are still in effect
because they are being held by production. The Company maintains a 100% working
interest in most wells. The leases provide for a landowner royalty of 12.5%.
Some wells are subject to an overriding royalty interest from 0.5% to 9%.

            The Company pays ad valorem taxes on its Kansas Properties. It does
not pay any taxes on its Swan Creek Leases. The Company has general liability
insurance for the Kansas Properties and the Swan Creek Field.

            The Company leases its principal executive offices, consisting of
approximately 5,647 square feet located at 603 Main Avenue, Suite 500,
Knoxville, Tennessee, at a monthly rent of $4,705.83. The Company also leases a
field office in Sneedville, Tennessee at a rental of $500 per month, an office
in Hays, Kansas at a rental of $500 per month and an office in New York City at
a rental of $2,600 per month.


RESERVE ANALYSES

            Ryder Scott Company, L.P. of Houston, Texas ("Ryder Scott") has
performed reserve analyses of all the Company's productive leases. Ryder Scott
and its employees and its registered petroleum engineers have no interest in the
Company or IRC, and performed these services at their standard rates. The net
reserve values used hereafter were obtained from a reserve report dated March
28, 2002 (the "Report") prepared by Ryder Scott as of December 31, 2001. In
substance, the Report used estimates of oil and gas reserves based upon standard
petroleum engineering methods which include production data, decline curve
analysis, volumetric calculations, pressure history, analogy, various
correlations and technical judgment. Information for this purpose was obtained
from owners of interests in the areas involved, state regulatory agencies,
commercial services, outside operators and files of Ryder Scott. The net reserve
values

                                       23



in the Report were adjusted to take into account the working interests that have
been sold by the Company in various wells in the Swan Creek Field. The Report
provides that the net proved reserves for wells in the Swan Creek Field is
23,006 MMcf of natural gas and 224,745 barrels of oil. According to the Report,
the value of the future gross revenues of the Company's interest in the Swan
Creek Field as of December 31, 2001 is $57,832,005 before production taxes and
$56,097,044 after production taxes. The Report further provides that as of
December 31, 2001 the value of the future net income before income taxes of the
Company's interest in the Swan Creek Field is $41,478,067 and discounting the
future net income by 10% results in a present value of $19,302,590.

            The Report reflects a reduction in the amount of proved natural gas
reserves from 33,576.581 MMcf to 23,006.332 MMcf and proved oil reserves from
284,673 barrels to 224,745 barrels in the Swan Creek Field from the reserves as
provided in the Ryder Scott report dated August 10, 2001 reporting values as of
June 30, 2001. This reduction is a result of the later Report placing greater
emphasis on the initial production figures from the Swan Creek Field during the
period from June to December 2001 which were adversely affected by initial
production problems as described above in "Item 1 Business - General - 1. Swan
Creek". The earlier Ryder Scott report as of June 30, 2001, on the other hand,
was based primarily on volumetric calculations rather than actual production
figures because production from the Swan Creek had just begun. The Company
anticipates that the reserve report will not only stabilize at no less than
current levels of production but increase in future reporting periods when it is
expected that production will increase as a result of ongoing work on existing
wells and the drilling of new wells. The Report also reflects a reduction of
48.8% in the net present value of the oil and gas reserves in the Swan Creek
Field from the values reported in the Ryder Scott reserve report dated June 30,
2001. This reduction occurred not only as a result of the amount of reserves
reported, but in addition, as a result of the much lower oil and gas prices
being received at year end as stated in the Report which were approximately
$7.75 per barrel of oil and $.80 Mcf of gas lower than the prices which served
as the basis for Ryder Scott's earlier June 30, 2001 report.

            The Report reflects a substantial reduction in the amount of proved
natural gas reserves from 44,451.338 MMcf to 23,006.332 MMcf and proved oil
reserves from 376,296 barrels to 224,745 barrels in the Swan Creek Field from
the reserves in an earlier Ryder Scott reported dated March 28, 2001 reporting
values as of December 31, 2000.This results from the fact that the earlier
report was based entirely on volumetric calculations because production had not
yet commenced. In addition, the Report reflects a significant reduction of the
discounted (at 10% per annum compounded monthly) net present value of the
Company's oil and gas reserves in the Swan Creek field from $300,208,036 to
$19,302,590. Although this reduction is based in part on the reduction in
reserves for the reasons stated, a most significant factor in this reported
reduction of net present value is the use of much lower price projections in the
valuation of the reserves. The year-end 2000 report utilized near-record gas
prices of $9.77 per Mcf and oil prices of $24.10 per barrel as opposed to the
$2.13 per Mcf price and $17.24 per barrel price utilized in the current Report
for the year ending December 31, 2001. This represents a 78% reduction in gas
prices, and a 28% reduction in oil prices. Finally, the reduction in net present
value as stated in the Report also occurred in part because the projected life
of the Swan Creek

                                       24



reserves for the year ending December 31, 2001 is more than doubled (from 26.14
years to 57.67 years) from the report for the year ending December 31, 2000.
This has the arithmetical result of amplifying the effect of the ten percent
(compounded monthly) discount factor used in determining a net present value of
the total future income stream, because the discount factor is applied and
compounding occurs over the longer period of time (56.7 years as opposed to
26.14 years) during which production is projected to occur.

            Ryder Scott also performed a reserve analysis of the Kansas
Properties. The Report provides that the net proved reserves for wells in the
Swan Creek Field is 2,873 MMcf of natural gas and 831,930 barrels of oil.
According to the Report, the value of the future gross revenues of the Company's
interest in the Kansas Properties as of December 31, 2001 is $20,463,797 before
production taxes and $19,586,607 after production taxes. The Report further
provides that as of December 31, 2001 the value of the future net income before
income taxes of the Company's interest in the Kansas Properties is $4,350,410
and discounting the future net income by 10% results in a present value of
$2,431,317.

            The Report reflects a reduction from the earlier Ryder Scott report
as of December 31, 2000 in (i) the number of barrels of oil attributed to the
Company's net interest in the Kansas Properties from 1,438,209 barrels to
831,930 barrels and (ii) the value of the future gross revenues of the Company's
interest in the Kansas Properties from $54,419,609 before production taxes and
$54,307,992 after production taxes as of December 31, 2000 to $20,463,797 before
production taxes and $19,586,607 after production taxes as of December 31, 2001.
These reductions are due primarily to two factors. First, the reduction in the
number of barrels occurred because the Report disregarded the reserves
attributable to approximately thirty wells that are still actually producing
oil, because the calculated operating expenses for those wells matched or
exceeded the theoretical crude oil price being utilized in the Report. Because
the current market price of crude oil has risen from the price used in the
Report, all or a portion of the reserves attributable to these wells would now
be included in an analysis of the Company's reserves, depending upon the level
of price received for crude oil and the relationship of such price to operating
expenses. Second, the Report in determining the value of future gross revenues
from the Kansas Properties used lower prices than utilized in the report ending
December 31, 2000. The Report used a gas price of $2.13 in contrast to the $5.30
price used in 2000, and an oil price of $17.21 in contrast to the $26.46 price
used in 2000. The combination of these factors also resulted in a decrease in
the net present value of the Company's future income from the Kansas Properties
calculated at a discount of 10%, from $14,993,222 as of December 31, 2000 to
$2,431,317 as of December 31, 2001. The Company anticipates that future reports
of the net present value of the Kansas Properties will rise with any increase in
market pricing and the resulting consideration of reserves attributable to all
of the Company's wells, which are still producing in accordance with their
extended production history.

            The Company believes that the reserve analysis reports prepared by
Ryder Scott for the Company for the Swan Creek Field and Kansas Properties
provide an essential basis for review and consideration of the Company's
producing properties by all potential industry partners and all financial
institutions across the country. It is standard in the industry for reserve
analyses such as these to be used as a basis for financing of drilling costs.
Reserve analyses, however, are

                                       25



at best speculative, especially when based upon limited production; no assurance
can be given that the reserves attributed to these leases exist or will be
economically recoverable. The result of any reserve analysis is dependent upon
the forecast of product prices utilized in the analysis which may be more or
less than the actual price received during the period in which production
occurs.

            The Company has not filed the reserve analysis reports prepared by
Ryder Scott or any other reserve reports with any Federal authority or agency
other than the Securities and Exchange Commission.


PRODUCTION

            The following tables summarize for the past three fiscal years the
volumes of oil and gas produced to the Company's interests, the Company's
operating costs and the Company's average sales prices for its oil and gas. The
information does not include volumes produced to royalty interests or other
working interests.

- --------------------------------------------------------------------------------
                                    TENNESSEE
- --------------------------------------------------------------------------------
 YEAR ENDED       PRODUCTION          COST OF PRODUCTION  AVERAGE SALES PRICE
DECEMBER 31                              (PER BOE)(2)
- --------------------------------------------------------------------------------
                OIL          GAS                           OIL        GAS
               (Bbl)        (Mcf)                         (Bbl)    (PER Mcf)
- --------------------------------------------------------------------------------
2001         22,776.21   703,073.56        $0.31         $16.05    $2.55
- --------------------------------------------------------------------------------
2000         37,210.67     2,411.00        $0.69         $20.32    $2.86
- --------------------------------------------------------------------------------
1999         17,286.06     2,122.00        $0.44(est.)   $12.81    $2.86(est.)
- --------------------------------------------------------------------------------

Gas volumes and prices for 1999 and 2000 reflect only the nominal purchases made
by Hawkins County Gas Utility District upon completion of Phase I of Tengasco
Pipeline Company's pipeline system. See Item I, "Business-General-1 Swan Creek
Field."

- ----------
(2)   A "BOE" is a barrel of oil equivalent. A barrel of oil contains
approximately 6 Mcf of natural gas by heating content. The volumes of gas
produced have been converted into "barrels of oil equivalent" for the purposes
of calculating costs of production.

                                       26



- --------------------------------------------------------------------------------
                                     KANSAS
- --------------------------------------------------------------------------------
 YEAR ENDED       PRODUCTION          COST OF PRODUCTION  AVERAGE SALES PRICE
DECEMBER 31                                (PER BOE)
- --------------------------------------------------------------------------------
                OIL          GAS                           OIL        GAS
               (Bbl)        (Mcf)                         (Bbl)    (PER Mcf)
- --------------------------------------------------------------------------------
2001        112,495.88   278,884.66       $10.72         $23.50      $4.12
- --------------------------------------------------------------------------------
2000        111,734.81   291,096.22       $ 9.68         $28.06      $3.75
- --------------------------------------------------------------------------------
1999        114,732.28   304,059.81       $ 8.87         $17.23      $2.16
- --------------------------------------------------------------------------------


OIL AND GAS DRILLING ACTIVITIES

            The Company's oil and gas developmental drilling for the past three
fiscal years are as set forth in the following tables. During the fiscal years
ending December 31, 1999, 2000 and 2001, the Company did not drill any
exploratory wells. The information should not be considered indicative of future
performance, nor should it be assumed that there is necessarily any correlation
between the number of wells drilled, quantities of reserves found or economic
value.

      GROSS AND NET WELLS

            The following tables set forth for the fiscal years ending December
31, 1999, 2000 and 2001 the number of gross and net development wells drilled by
the Company. The term gross wells means the total number of wells in which the
Company owns an interest, while the term net wells means the sum of the
fractional working interests the Company owns in gross wells.

- --------------------------------------------------------------------------------
                             YEAR ENDED DECEMBER 31
- --------------------------------------------------------------------------------
                                  2001              2000              1999
- --------------------------------------------------------------------------------
                             GROSS     NET     GROSS     NET     GROSS     NET
- --------------------------------------------------------------------------------
TENNESSEE
- --------------------------------------------------------------------------------
PRODUCTIVE WELLS             19        11.42   9        4.0515   7        4.8125
- --------------------------------------------------------------------------------
DRY HOLES                    0         0       0        0        0        0
- --------------------------------------------------------------------------------
KANSAS
- --------------------------------------------------------------------------------
PRODUCTIVE WELLS             3         2.594   0        0        0        0
- --------------------------------------------------------------------------------
DRY HOLES                    0         0       0        0        0        0
- --------------------------------------------------------------------------------

                                       27



      PRODUCTIVE WELLS

            The following table sets information regarding the number of
productive wells in which the Company held a working interest as of December 31,
2001. Productive wells are either producing wells or wells capable of commercial
production although currently shut-in. One or more completions in the same bore
hole are counted as one well.

- --------------------------------------------------------------------------------
                                           GAS                     OIL
- --------------------------------------------------------------------------------
                                     GROSS        NET        GROSS       NET
- --------------------------------------------------------------------------------
TENNESSEE                             34        20.7475       11         5.308
- --------------------------------------------------------------------------------
KANSAS                                52        43.4504      134       112.8382
- --------------------------------------------------------------------------------


DEVELOPED AND UNDEVELOPED OIL AND GAS ACREAGE

            As of December 31, 2001, the Company owned working interests in the
following developed and undeveloped oil and gas acreage. Net acres refers to the
Company's interest less the interest of royalty and other working interest
owners.


- --------------------------------------------------------------------------------
                                  DEVELOPED                  UNDEVELOPED
- --------------------------------------------------------------------------------
                           GROSS ACRES   NET ACRES      GROSS ACRES   NET ACRES
- --------------------------------------------------------------------------------
TENNESSEE                    1,840.00     1,065.38       62,651.90    54,820.00
- --------------------------------------------------------------------------------
KANSAS                       9,666.00     8,080.44       22,711.00    18,995.48
- --------------------------------------------------------------------------------


ITEM 3. - LEGAL PROCEEDINGS

            Except as described hereafter, the Company is not a party to any
pending material legal proceeding. To the knowledge of management, no federal,
state or local governmental agency is presently contemplating any proceeding
against the Company which would have a

                                       28



result materially adverse to the Company. To the knowledge of management, no
director, executive officer or affiliate of the Company or owner of record or
beneficially of more than 5% of the Company's common stock is a party adverse to
the Company or has a material interest adverse to the Company in any proceeding.

            1.    The Company, its Chief Executive Officer, Malcolm E. Ratliff,
and one of its attorneys, Morton S. Robson, have been named as defendants in an
action commenced in the Supreme Court of the State of New York, New York County
entitled MAUREEN COLEMAN, JOHN O. KOHLER, CHARLES MASSOUD, JONATHAN SARLIN, VON
GRAFFENRIED A.G. AND VPM VERWATUNGS A.G., PLAINTIFFS V. TENGASCO, INC., MORTON
S. ROBSON AND MALCOLM E. RATLIFF, DEFENDANTS, INDEX NO. 603009/98. In that
action, the plaintiffs, shareholders of the Company each of which purchased
restricted shares of the Company's Common Stock, allege that although they were
entitled to sell their shares pursuant to SEC Rule 144 in the open market, they
were precluded from doing so by the defendants' purported wrongful refusal to
remove the restrictive legend from their shares. The plaintiffs own in the
aggregate 35,000 shares of the Company's common stock. The plaintiffs are
seeking damages in an amount equal to the difference between the amount for
which they would have been able to sell their shares if the defendants had acted
to remove the restrictive legends when requested and the amount they will
receive on the sale of their shares. The plaintiffs are also seeking punitive
damages in an amount they claim to be in excess of $500,000 together with
interest, costs and disbursements of bringing the action, including reasonable
attorneys fees. This action has been partially settled by the Company agreeing
to remove the restrictive legends on the plaintiffs' stock.

            As for the balance of the action, the Company believes that there
are several substantial factual and legal issues as to the date on which the
shareholders were entitled to sell their stock pursuant to Rule 144. Management
further believes that the Company did not wrongfully withhold its approval of
the removal of the restrictive legends at the times such removal was requested
by the shareholders. However, in the event the Company is found to have
improperly withheld its permission to remove the restrictive legends from the
shares owned by the shareholders, the Company may be held liable for damages to
the shareholders in an amount equal to the difference between the actual sale
price of such shares and the sales price they would have realized on the date
such restrictive legends should have been permitted to be removed. At this time
it is not possible to ascertain with any certainty what such damages would be.
The plaintiffs have not taken any action in this matter for several years.

            2.    TENGASCO PIPELINE CORPORATION V. JAMES E. LARKIN AND KATHLEEN
A. O `CONNOR, No. 4929J in the Circuit Court for Hawkins County, Tennessee. This
is a condemnation proceeding brought by Tengasco Pipeline Corporation to acquire
a temporary construction easement and permanent right of way to maintain and
operate a portion of Phase I of the Company's pipeline in Hawkins County,
Tennessee. The court granted an order of possession to the Company in January,
1998 and the pipeline has been constructed across approximately 3,000 feet of
the property concerned in a rural and very steep locale. The Company has had the
right of way appraised at $4,000. The landowners, Mr. Larkin and Kathleen A. O
Connor who both live on the property, contest the appraised value of the
property and claim incidental damages to

                                       29



certain fish ponds located on their property. The landowners, despite a lack of
evidence of any fish raising or aquaculture business actually being or having
been operated on the premises or of any actual losses to such business, have
counterclaimed for $867,585 in compensatory damages and $2.6 million in punitive
damages arising from trespass and other legal theories. The Court required the
parties to attempt to mediate this dispute and the mediation occurred in
December, 2000. The parties were unable to reach a mediated settlement and the
matter has been scheduled for trial on May 8, 2002. The discovery conducted to
date has not disclosed any facts that reasonably suggest any likelihood of a
substantial adverse result in this matter, and the Company intends to vigorously
defend the allegations of the counterclaim which appear to be without any
credible basis.

            3.    The Company and its wholly owned subsidiary, Tengasco Pipeline
Corporation ("TPC"), were named as defendants in an action commenced on June 4,
2001 by C.H. Fenstermaker & Associates, Inc. ("Fenstermaker") in the United
States District for the Eastern District of Tennessee entitled C.H. FENSTERMAKER
& ASSOCIATES, INC. V. TENGASCO, INC., No. 3:01-CV-283.

            The action seeks to recover approximately $365,000 in fees and
charges billed to TPC for engineering services Fenstermaker claims it performed
in connection with the planning and construction of Phase II of the Company's
pipeline which runs from Rogersville, TN to Kingsport, TN to serve Eastman
Chemical Company and Holston Army Ammunition Plant.

            On June 25, 2001, the Company and TPC filed an answer to the
complaint denying liability for the billings claimed, and counterclaiming
against Caddum, Inc. ("Caddum"), an unincorporated division of Fenstermaker. The
counterclaim seeks recovery from Caddum of damages for breach of contract and
breach of professional engineering standards caused by the actions of Caddum,
including unauthorized deviations from the pipeline route which caused the
Company to incur significant additional costs. These costs included substantial
fees for concrete capping of the pipeline as a result of the pipeline being
placed to close to the adjoining highway right of way. The counterclaim further
alleges that Caddum damaged the Company by: causing delays in completing the
pipeline; by failing to submit engineering drawings and failing to timely obtain
certain x-rays of the pipeline welds; its unauthorized actions in ordering
supplies and materials; and, overbilling from the agreed contract rate for
engineering services. The counterclaim seeks actual damages from Caddum of
approximately $475,000, treble damages under state law for the overbilling, and
damages to the Company arising from the delay caused by Caddum in the production
from the Swan Creek field all in the aggregate amount of $1.25 million. The
District Court has scheduled the case for a non-jury trial on July 17, 2002
before Judge James H. Jarvis. The Company believes its counterclaims are
meritorious and intends to vigorously prosecute them and anticipates that, at a
minimum, its counterclaims will either fully offset or substantially reduce
exposure to liability for the amounts claimed by Fenstermaker.

            4.    On October 10, 2001 an arbitration hearing was held by the
American Arbitration Association between the Company's wholly owned subsidiary
Tengasco Pipeline Corporation ("TPC") and King Pipeline & Utility Company
("King"), the contractor for the

                                       30



construction of Phase II of the Company's pipeline. The arbitration was held to
resolve disputes concerning final billings by King for the pipeline
construction. King made four claims, seeking (1) payment for straw matting done
by King on slopes calculated at two dollars per square foot; (2) to retain
payment it had received for clearing and grubbing charges; (3) the release of a
currently retained sum of $46,585, to which TPC made no claim, presently being
held in escrow pending the outcome of ongoing litigation between King and King's
boring subcontractor; and (4) payment of $94,000 billed by King for alleged
extra work it performed in trenching at a depth deeper than called for by the
contract.

            On October 31, 2001 the arbitrator issued his award finding that
King was entitled to recover the sum of $266,390.66 for straw matting work
performed by King, calculated at $2 per square foot as sought by King; that King
was entitled to retain the $72,500 payment made to it by TPC for clearing and
grubbing work, and that the retained sum be released from escrow. The arbitrator
denied all relief sought by King for extra charges in the amount of $94,000 for
deeper trenching, and awarded King its attorneys fees of approximately $14,000.
TPC has filed a motion to vacate the arbitrator's award and King has filed an
opposing motion to confirm the award. The motions are expected to be heard
shortly in the Chancery Court for Knox County, Tennessee. In the event TPC's
motion is denied and King's opposing motion is granted, the Company is examining
the possibility of appealing the award, since the Company believes that the
arbitrator's ruling is not supported by the record presented. However, available
grounds for appeal appear extremely limited and it is therefore unlikely that an
appeal will occur. In the event an appeal is unavailable and payment is made to
satisfy the award, then based on the evidence presented at the arbitration
hearing, the Company and TPC intend to seek recovery of the payments made to
King as an additional element of damages being sought from Caddum, Inc., the
project engineer, in the action now pending in the United States District Court
for the Eastern District of Tennessee entitled C.H. FENSTERMAKER & ASSOCIATES,
INC. V. TENGASCO, INC., No. 3:01-CV-2 discussed above.



ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

            None during the fourth quarter of 2001.

                                       31



PART II


ITEM 5   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS


MARKET INFORMATION

The Company's common stock was listed on the OTC Bulletin Board of the NASD from
March 31, 1994 through December 20, 1999 under the symbol TNGO. On December 10,
1999, the American Stock Exchange ("AMEX") approved the application of the
Company to have its common stock listed on the AMEX. Trading of the Company's
common stock on the AMEX commenced on December 21, 1999 under the symbol TGC.

            The range of high and low closing prices for shares of common stock
of the Company during the fiscal years ended December 31, 2000 and December 31,
2001 are set forth below. The prices have been retroactively adjusted by a 5%
reduction to take into account the 5% stock dividend declared by the Company
payable on October 1, 2001 to all shareholders of record as of September 4,
2001.


                                       HIGH        LOW
                                       ----        ---
For the Quarters Ending

March 31, 2001                         14.20       9.69

June 30, 2001                          15.01      11.16

September 30, 2001                     13.69       7.60

December 31, 2001                      10.54       7.39


March 31, 2000                          9.86       6.65

June 30, 2000                           9.26       6.65

September 30, 2000                      9.26       7.60

December 31, 2000                      12.82       7.84

                                       32



HOLDERS

            As of March 1, 2002 the number of shareholders of record of the
Company's common stock was 375 and management believes that there are
approximately 2,172 beneficial owners of the Company's common stock.


DIVIDENDS

            The Company under its credit agreement with Bank One is presently
restricted from paying dividends without Bank One's consent. On July 30, 2001,
the Company's Board of Directors voted to declare a five percent (5%) stock
dividend on the outstanding shares of the Company's common stock, $.001 par
value which was payable on October 1, 2001 to all shareholders of record as of
September 4, 2001. No fractional shares were issued in connection with the stock
dividend and all such fractional shares were rounded to the next full share. The
Company has no present plans to declare any further dividends with respect to
its common stock.


RECENT SALES OF UNREGISTERED SECURITIES

            Except as previously reported in Quarterly Reports on Form 10-QSB
and Form 10-Q filed by the Company, the following tables sets forth certain
information as to all equity securities, other than the grant of options, which
were sold during the past year, including the sale of common stock upon the
exercise of outstanding options and warrants, that were not registered under the
Securities Act of 1933, as amended,




COMMON STOCK
                                       DATE         NUMBER OF        AGGREGATE
NAME OF OWNER                        ACQUIRED         SHARES       CONSIDERATION
- -------------                        --------         ------       -------------
Kenny Securities                      7/13/01         12,000       $      82,500
Kenny Securities                      7/13/01         17,285       $     109,328
Bill L. Harbert                        8/9/01        111,111       $1,000,000.00
Jerome & Lynn Cipponeri              12/31/01         16,000       $  100,000.00


            In addition to the foregoing, on December 20, 2001, the Company
issued 5,000 shares of its common stock to a non-affiliated individual in
payment of $70,000 for services he had performed for the Company.

                                       33



            Management believes that all of the foregoing persons were either
"accredited investors" as that term is defined under applicable federal and
state securities laws, rules and regulations, or were persons who by virtue of
background, education and experience who could accurately evaluate the risks and
merits attendant to an investment in the securities of the Company. Further, all
such persons were provided with access to all material information regarding the
Company, prior to the offer or sale of these securities, and each had an
opportunity to ask of and receive answers from directors, executive officers,
attorneys and accountants for the Company. The offers and sales of the foregoing
securities are believed to have been exempt from the registration requirements
of Section 5 of the 1933 Act, as amended, pursuant to Section 4(2) thereof, and
from similar state securities laws, rules and regulations covering the offer and
sale of securities by available state exemptions from such registration.


ITEM 6.  SELECTED FINANCIAL DATA

            The following selected financial data have been derived from the
Company's financial statements, and should be read in conjunction with those
financial statements, including the related footnotes.

Years Ended December 31,



- ------------------------------  -----------   -----------   -----------   -----------   -----------
                                   2001          2000          1999          1998          1997
- ------------------------------  -----------   -----------   -----------   -----------   -----------
INCOME STATEMENT DATA:
- ------------------------------  -----------   -----------   -----------   -----------   -----------
                                                              
Oil and Gas Revenues            $ 6,656,758   $ 5,241,076   $ 3,017,252   $ 2,078,101            --
- ------------------------------  -----------   -----------   -----------   -----------   -----------
Production Costs and Taxes      $ 2,951,746   $ 2,614,414   $ 2,564,932   $ 1,943,944   $     3,748
- ------------------------------  -----------   -----------   -----------   -----------   -----------
General and Administrative      $ 2,957,871   $ 2,602,311   $ 1,961,348   $ 1,372,132   $ 1,535,841
- ------------------------------  -----------   -----------   -----------   -----------   -----------
Interest Expense                $   850,965   $   415,376   $   417,497   $   574,906   $ 1,885,448
- ------------------------------  -----------   -----------   -----------   -----------   -----------
Net Loss                        $(2,262,787)  $(1,541,884)  $(2,671,923)  $(3,083,638)  $(4,370,570)
- ------------------------------  -----------   -----------   -----------   -----------   -----------
Net Loss  Available to Common   $(2,653,970)  $(1,799,441)  $(2,791,270)  $(3,083,638)  $(4,370,570)
Stockholders
- ------------------------------  -----------   -----------   -----------   -----------   -----------
Net Loss  Available to Common
Stockholders Per Share(3)       $     (0.26)  $     (0.19)  $     (0.33)  $     (0.42)  $     (0.71)
- ------------------------------  -----------   -----------   -----------   -----------   -----------


- ----------
(3)   All references in this table to common stock and per share data have been
retroactively adjusted to reflect the 5% stock dividend declared by the Company
effective as of September 4, 2001.

                                       34



As of December 31,



- --------------------------------  ------------   ------------   -----------   -----------   -----------
                                      2001           2000          1999          1998          1997
- --------------------------------  ------------   ------------   -----------   -----------   -----------
                                                                             
BALANCE SHEET DATA:
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Working Capital Deficit           $ (6,326,204)  $   (708,317)  $(1,406,263)  $(1,929,215)  $(1,774,571)
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Oil and Gas Properties, Net       $ 13,269,930   $  9,790,047   $ 8,444,036   $ 7,747,655   $ 6,872,571
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Pipeline Facilities(4)            $ 15,039,762   $ 11,047,038   $ 4,212,842   $ 4,019,209   $ 2,596,967
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Total Assets                      $ 32,128,245   $ 25,224,724   $15,182,712   $13,525,777   $14,644,811
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Long-Term Debt                    $  3,902,757   $  7,108,599   $ 3,119,293   $ 3,190,930   $ 2,006,293
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Redeemable Preferred Stock        $  5,459,050   $  3,938,900   $ 1,988,900   $   800,000   $         0
- --------------------------------  ------------   ------------   -----------   -----------   -----------
Stockholder' Equity(5)            $ 14,991,847   $ 10,864,202   $ 7,453,930   $ 7,245,090   $ 6,001,481
- --------------------------------  ------------   ------------   -----------   -----------   -----------



ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATION


RESULTS OF OPERATIONS

            The Company incurred a net loss to holders of common stock of
$2,653,970 ($0.26 per share) in 2001 compared to a net loss of $1,799,441 ($0.19
per share) in 2000 and $2,791,270 ($0.33 per share) in 1999.

            The Company realized oil and gas revenues of $6,656,758 in 2001 as
compared to $5,241,076 in 2000 and $3,017,252 in 1999. The increase from 2000 to
2001 was primarily due to gas sales from the Swan Creek Field of $2,563,935.
However, Kansas oil sales decreased $489,778 from 2001 to 2000 due to price
decreases as the number of barrels produced remained constant. The Kansas
Properties produced 113,758 barrels in 1999, 143,949 barrels in 2000, and
143,291 barrels in 2001. Also oil production decreases and price decreases in
Swan Creek reduced oil revenues from $960,814 in 2000 to $499,641 in 2001. This
was due to the combination of price and volume. Volumes decreased from 47,281
barrels in 2000 to 30,323 barrels in 2001. This was due to the Company's
concentration on drilling new gas wells. The Company's subsidiary, Tengasco
Pipeline, did have pipeline transportation revenues for the first

- ----------
(4)   During the years ended December 31, 2000, 1999, 1998 and 1997, this
included portions which were under construction.

(5)   No cash dividends have been declared or paid by the Company for the
periods presented.

                                       35



time in 2001 of $296,331 from the Swan Creek Field.

            The Company's realized oil and gas revenues increased $2,223,824 in
2000 as compared to 1999. The increase in revenues was primarily attributable to
the increase in oil and gas prices in 2000. However, the Kansas properties oil
production increased in 2000 by 30,191 barrels and the Swan Creek oil production
increased by 25,317 barrels in 2000.

            The Company's production costs and taxes have increased each year
from 1999 to 2001 as additional cost has been incurred to maintain the Kansas
wells and also to begin production from the Swan Creek Field for the first time
in 2001. The 2001 increase of $337,332 as compared to 2000 is due primarily to
the commencement of production from the Swan Creek Field. Production costs and
taxes only increased $49,482 from 1999 to 2000.

            Depletion, depreciation, and amortization increased significantly in
2001 over 2000 and 1999 levels. The primary increase is due to significant
increases in depletion expense during 2001 ($1,142,000) as a result of the
following: decreases in reserve estimates on oil and gas properties arising from
declining commodity prices; certain of the Company's gas wells had decreased
production levels at year-end due to problems encountered with liquids in the
wells. This decreased production level at year-end was factored into the
estimated future proved reserves calculation performed as of December 31, 2001,
resulting in a lower future proved reserves estimate. Additionally, the Company
took depreciation on the pipeline for the first time in 2001 ($220,371). The
depletion, depreciation and amortization increased from $233,807 in 1999 to
$371,249 in 2000. The increase was due to depreciation on new equipment
purchased late in the years of 1999 and an increase in depletion expense of
$97,000 due to a change in estimate resulting from changes in reserves.

            General and administrative expenses have increased from $1,961,348
in 1999 to $2,602,311 in 2000, to $2,957,871 in 2001. The increases from 2000 to
2001 are attributable to an increase in insurance (approximately $400,000) to
expand coverage including blowout insurance and the addition of Company
providing medical insurance for employees in 2001. The increase of $640,963 from
1999 to 2000 was due primarily to an increase in additional personnel,
consultants and increased engineering services for reserve evaluations.

            Interest expense for 2001 increased significantly over 1999 and 2000
levels. This increase is due to additional interest cost associated with
financing for the completion of Phase II of the Company's 65 mile pipeline. This
increase was reduced by interest cost of approximately $148,000 which was
capitalized in the first 3 months of 2001 during construction of the pipeline
and $128,000 in 2000. Interest expense remained consistent from 1999 to 2000.

            Public relations cost increased ($187,253) in 2001 as compared to
2000 levels due to cost associated with producing the annual report, the proxy
statement, and press releases. Public relations cost in 2000 was only slightly
higher ($20,134) than 1999 cost.

                                       36



            Professional fees decreased in 2001 from 2000 levels and are
consistent with 1999 levels due to a charge in 2000 of $242,000 for stock
options issued in 2000 to non-employees.

            Dividends on preferred stock has increased from $119,347 in 1999 to
$257,557 in 2000 to $391,183 in 2001 as a result in the increase in preferred
stock outstanding.


LIQUIDITY AND CAPITAL RESOURCES

            On November 8, 2001, the Company signed a credit facility agreement
(the "Credit Agreement") with the Energy Finance Division of Bank One, N.A. in
Houston Texas ("Bank One") whereby Bank One extended to the Company a revolving
line of credit of up to $35 million. The interest rate on the line of credit is
the Bank One base rate plus one quarter percent which at the time of closing was
5.25%. The initial borrowing base under the Credit Agreement was $10 million.
The initial borrowing base was determined by Bank One according to its own
internal and unspecified formulas. Under the terms of the Credit Agreement, the
initial borrowing base is to be reviewed and updated periodically by Bank One
based on its review, at various specified times, of reserve analyses of the
Company's proved oil and gas reserves, such as the report prepared by Ryder
Scott as of December 31, 2001. See, "Item 2 Description of Property - Reserve
Analysis." No increase will occur beyond the initial borrowing base of $10
million unless the Company's proved oil and gas reserves increase to such a
level that Bank One in its sole discretion according to its own internal
formulas determines that such an increase in the credit facility is warranted.
Conversely, the initial credit base may be decreased if Bank One upon review of
reserve analysis at times as specified in the Credit Agreement in its sole
discretion, according to its own internal formulas, determines that such a
decrease in the credit facility is warranted. In addition, the terms of the
Credit Agreement provides that the calculation of the borrowing base includes an
"equity cushion," in an unspecified amount, intended to protect Bank One from
difficulties in evaluating, liquidating, or collecting against oil and gas
properties stated to be subject to rapid deterioration in value and inherently
incapable of being accurately evaluated.

            On November 9, 2001, funds from the Bank One credit line were used
to (1) satisfy existing indebtedness on the Company's Kansas Properties
($1,427,309.25); (2) repay the internal financing provided by Directors and
shareholders of the Company for the completion of the Company's 65 mile
intrastate pipeline ($3,895,490.83); (3) prepay a note due to Spoonbill, Inc.
for funds borrowed by the Company for working capital ($1,080,833.34); (4)
prepay a note due to Malcolm E. Ratliff, the Company's Chief Executive Officer,
for purchase by the Company of a drilling rig and related equipment
($1,003,844.44); and, (5) prepay the remaining balance of a loan made to the
Company for working capital by Edward W.T.Gray III, a former Director of the
Company, due on December 31, 2001 ($304,444.44). All of these obligations
incurred interest at a rate substantially greater than the rate being charged by
Bank One under the Credit Agreement. Together with attorneys fees, mortgage
taxes in Tennessee and Kansas and related fees the total drawn down on November
9, 2001 from the credit facility was $7,901,776.65. As of the date of this
Report, the principal balance of the loan under the Credit Agreement is
$9,101,776.66.

                                       37



            On or about April 5, 2002, the Company received a notice from Bank
One stating that it had re-determined and reduced the borrowing base under the
Credit Agreement to $3,101,766.66. The notice did not provide any explanation
why the reduction was made or as to how the reduction was calculated. As a
result of the reduction of the borrowing base, Bank One has demanded that the
Company satisfy the difference between the principal balance of the loan under
the Credit Agreement ($9,101,776.66) and the newly reduced current borrowing
base ($3,101,776.66) within thirty days of the receipt of the notice advising
the Company of the reduction of the borrowing base.

            The Company has notified  Bank One that it strongly  disagrees  that
the  re-determination  of the  borrowing  base was proper under the terms of the
Credit Agreement. It is the contention of the Company that a re-determination of
the  borrowing  base  can only be made in  accordance  with  specific  schedules
provided  for in the Credit  Agreement.  The  Company is  required to submit its
first  analysis of proved  reserves to Bank One by December 1, 2002 for purposes
of  determining  the  borrowing  base.  Thereafter,  reserve  analysis are to be
reviewed  every six  months.  The  schedule of reserve  reports  required by the
Credit  Agreement  upon  which  such  re-determinations  are  to be  based  also
specifically  sets up a procedure  involving  an  automatic  monthly  payment of
$200,000  effective as of February 1, 2002 to be applied  against the  borrowing
base.

            The re-determination of the borrowing base made on April 5, 2002 by
Bank One is not in accordance with the expressed schedule in the Credit
Agreement which provides that the next re-determination date is after December
1, 2002, and which would allow for updated reserve analysis reports reflecting
the attendant adjustments to the Company's proved reserves as new wells come
into production and existing wells are re-worked in its Swan Creek Field before
any re-determination of the borrowing base could be made. Such updated reserve
analysis reports also would reflect the substantial current increases in oil and
gas prices from the substantially lower year-end oil and gas prices used to
evaluate the Company's reserves in the Company's most recent reserve analysis
report prepared by Ryder Scott as of December 31, 2001. The borrowing base
provisions of the Credit Agreement also permit Bank One to require the Company
to provide an analysis by certified engineers on ninety days notice if it has
concerns regarding the status of the reserves of the producing properties. This
was not done. Such a procedure would be the proper way for Bank One to have
proceeded if it had such concerns. Finally, the Company views Bank One's
position under the Credit Agreement to be fully secured by the properties the
Company owns in Kansas and Tennessee. The values of these properties far exceeds
the original initial borrowing base under the Credit Agreement. This fact
further underscores the impropriety of the attempted recent reduction of the
borrowing base and that such action is clearly unjustified by the terms and
intent of the Credit Agreement. The Company is seeking to have Bank One withdraw
its April 5, 2002 re-determination of the borrowing base.

            In an effort to resolve this dispute amicably, alternatively, the
Company has requested Bank One to allow it to reduce the difference between the
principal balance of the loan and the reduced borrowing base over a period of
time. If the Company's request is honored, it is believed that through a
combination of the use of the Company's cash flow and outside equity or

                                       38



loan financing it will be able to resolve any disputes with Bank One. However,
any substantial increase of the pay down of the loan over the $200,000 per month
presently being paid will significantly impair the Company's ability to repair
its current problem wells and to drill new wells. In the event the Company is
unable to resolve its differences with Bank One, the Company might be held to be
in default of its obligation to Bank One, which would enable Bank One to call
the entire loan. In such event, the Company would vigorously oppose any such
action by Bank One. If Bank One should be successful, the Company believes that
it would be able to procure alternative debt financing and equity funding to
enable to meet its obligation. The Company is hopeful that it will be able to
work out a satisfactory arrangement with Bank One.

            Even if the Company is able to reach an agreement with Bank One as
to the amount of its current borrowing base and the pay-off of any difference
between that borrowing base and the principal balance of the loan, unless the
Company is able to increase production from its Swan Creek Field and as a
result, increase the calculation of proven oil and gas reserves it will not be
able to increase its borrowing base under the Bank One Credit Agreement beyond
the initial $10 million borrowing base. Although the Company is hopeful it will
be able to increase production and its proven reserves, there are no assurances
that the Company will be able to do so to an amount sufficient to allow it to
borrow additional sums from Bank One beyond the current borrowing base. In the
event that the Company is unable to increase the amount of its current borrowing
base under the Bank One Credit Agreement, it will be forced to seek other
options to obtain the funding necessary to meet its obligation to reduce the
Bank One loan and to satisfy all of its current and future cash requirements,
including funds necessary to re-work existing wells and continue the drilling
program in the Swan Creek Field. Such options would include debt financing, sale
of equity interests in the Company, a joint venture arrangement, the sale of oil
and gas interests, etc. The inability of the Company to obtain the necessary
cash funding on a timely basis would have an unfavorable effect on the Company's
financial condition and would require the Company to materially reduce the scope
of its operating and investing activities.

            The Company plans to shortly offer for sale by private placement a
new series of cumulative convertible preferred stock. The additional capital
raised from such offering will be used to provide funds for re-payment to Bank
One of the Loan Excess, to pay for re-working of wells and continuing the
drilling program in the Swan Creek Field to increase production and to provide
working capital. There can be no assurances that the Company will be able to
sell such preferred stock or, if it is able to do so, the proceeds of the sale
of the new series of cumulative convertible preferred stock will be sufficient
to accomplish these purposes.

            As a result of Bank One's reduction of the borrowing base and the
corresponding demand for payment of the difference between the amount of the
balance of the loan and the reduced borrowing base, combined with the fact that
the Company is still in the early stages of its oil and gas operating history
during which time it has a history of losses from operations and has an
accumulated deficit of $24,115,382 and a working capital deficit of $6,326,204
as of December 31, 2001, the Company's independent certified public accountants
have indicated in their report on the Consolidated Financial Statements that
these circumstances contribute to uncertainty over the Company's ability to
continue as a

                                       39



going concern. The Company's ability to continue as a going concern depends upon
its ability to obtain long-term debt or raise capital to satisfy its cash flow
requirements. See, "Report of Independent Auditors" and "Notes to Consolidated
Financial Statements - Note 2 - Going Concern Uncertainty." Management believes
based upon the Company's substantial assets and proved reserves; its expectation
that production and revenues from its Swan Creek Field will increase by the end
of fiscal 2002; and, the current increase in oil and gas prices, that the
Company will be able to obtain the long-term debt or raise capital to enable it
to continue in business.

            As of December 31, 2001, the Company had total stockholders' equity
of $14,991,847 on total assets of $32,128,245. The Company has a net working
capital deficiency at December 31, 2001 of $6,326,204 as compared to a net
deficiency of $708,317 at December, 2000. This working capital deficiency arises
primarily from the acceleration of $6,000,000 of the credit facility debt
discussed above.

            Net cash used in operating activities decreased from $820,615 in
2000 to $221,176 in 2001. The Company's net loss in 2001 increased to $2,262,787
from $1,541,884 in 2000. The impact on cash used due to the net loss for 2001
was primarily offset by non-cash depletion, depreciation and amortization of
$1,849,963 and non-cash compensation and services paid by issuance of equity
instruments of $92,253. Cash flow from working capital items in 2001 was
$232,338 as compared to $66,020 in 2000. This resulted from increases in
accounts payable of $191,702, and decreases in inventory of 91,981 and accounts
receivable of $3,814, partially offset by a decrease in accrued interest payable
of $2,519 and a decrease in accrued liabilities of $52,640. Net cash used in
operating activities decreased from $2,587,003 in 1999 to $820,615 in 2000. This
was primarily due to the fact that the Company's net loss in 2000 decreased to
$1,541,884 from a net loss in 1999 of $2,671,923. The impact on cash used due to
the net loss for 2000 was partially offset by non-cash depletion, depreciation
and amortization of $371,249 and non-cash compensation and services paid by the
issuance of equity instruments of $284,000. Cash flow from working capital items
in 2000 was $66,020 as compared to uses of cash flow of $353,387 in 1999. This
reflects increases in accounts payable of $364,553 and accrued interest payable
of $135,435, partially offset by an increase in accounts receivable of $301,421,
and a decrease in other accrued liabilities of $140,955.

            Net cash used in investing activities amounted to $9,408,684 for
2001 as compared to $8,936,863 for 2000. The large increase in net cash used for
investing activities during 2001 was primarily attributable to additions to oil
and gas properties of $4,821,883 in 2001 as compared to $1,456,996 in 2000. This
was offset by a reduction in expenditures used for the construction of Phase II
of the pipeline of $4,213,095 due to its completion in 2001 compared to
$6,834,196 in 2000 and a reduction of expenditures used for additions to other
property and equipment of $285,722 in 2001 as compared to $1,276,783 in 2000.

            Net cash used in investing activities amounted to $8,936,863 for
2000 compared to net cash used in the amount of $1,892,294 for 1999. The large
increase in net cash used for

                                       40



investing activities during 2000 was primarily attributable to the construction
of Phase II of the pipeline of $6,834,196 in 2000 as compared to $193,633 in
1999, additions to oil and gas properties of $1,456,996 in 2000 as compared to
$788,029 in 1999 and additions to other property and equipment of $1,276,783 in
2000 as compared to $256,045 in 1999.

            Net cash provided by financing activities amounted to $8,419,336 in
2001 as compared to $ 10,940,863 in 2000. The primary sources of financing
include proceeds from borrowings of $10,442,068 in 2001 as compared to
$6,493,563 in 2000, private placements of common stock of $3,900,000 in 2001 as
compared to $4,425,713 in 2000, convertible redeemable preferred stock of
$1,591,150 in 2001 as compared to $2,000,000 in 2000 and proceeds from exercise
of options of $2,341,000 in 2001 as compared to $180,013 in 2000. The primary
use of cash in financing activities was the repayment of borrowings of
$8,833,325 in 2001 as compared to $1,720,856 in 2000.

            Net cash provided by financing activities amounted to $10,940,863
for 2000 as compared to $3,896,693 for 1999. The primary sources of financing
include proceeds from borrowings of $6,493,563 in 2000 as compared to $2,119,023
in 1999, private placements of common stock of $4,425,700 in 2000 as compared to
$2,771,722 in 1999 and convertible redeemable preferred stock of $2,000,000 in
2000 as compared to $1,188,900 in 1999. The primary use of cash in financing
activities was the repayment of borrowings of $1,720,856 in 2000 as compared to
$2,383,605 in 1999.


CRITICAL ACCOUNTING POLICIES

            The Company's accounting policies are described in the Notes to
Consolidated Financial Statements in Item 8 of this Report. The Company prepares
its Consolidated Financial Statements in conformity with accounting principles
generally accepted in the United States of America, which requires the Company
to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the year. Actual results could differ from those estimates. The Company
considers the following policies to be the most critical in understanding the
judgments that are involved in preparing the Company's financial statements and
the uncertainties that could impact the Company's results of operations,
financial condition and cash flows.


      CONTINGENCIES

            The Company accounts for contingencies in accordance with Financial
Accounting Standards Board Statement of Financial Accounting Standards ("SFAS")
No. 5, "Accounting Contingencies." SFAS No. 5 requires that we record an
estimated loss from a loss contingency when information available prior to the
issuance of the Company's financial statements indicate that it is probable an
asset has been impaired or a liability has been incurred at the date of the

                                       41



financial statements and the amount of the loss can be reasonably estimated.
Accounting for contingencies such as environmental, legal and income tax matters
requires management of the Company to use its judgment. While management of the
Company believes that the Company's accrual for these matters are adequate, if
the actual loss from a loss contingency is significantly different from the
estimated loss, the Company's results of operations may be over or understated.
The primary area in which the Company has to estimate contingent liabilities is
with respect to legal actions brought against the Company. See. Item 3 - Legal
Proceedings."


      FULL COST METHOD OF ACCOUNTING

            The Company follows the full cost method of accounting for oil and
gas property acquisition, exploration and development activities. Under this
method, all productive and non-productive costs incurred in connection with the
acquisition of, exploration for and development of oil and gas reserves for each
cost center are capitalized. Capitalized costs include lease acquisitions,
geological and geophysical work, daily rentals and the costs of drilling,
completing and equipping oil and gas wells. The Company capitalized $4,821,883,
$1,456,996 and $788,029 of these costs in 2001, 2000 and 1999, respectively.
Costs, however, associated with production and general corporate activities are
expensed in the period incurred. Interest costs related to unproved properties
and properties under development are also capitalized to oil and gas properties.
Gains or losses are recognized only upon sales or dispositions of significant
amounts of oil and gas reserves representing an entire cost center. Proceeds
from all other sales or dispositions are treated as reductions to capitalized
costs.

      OIL AND GAS RESERVES

            The capitalized costs of oil and gas properties, plus estimated
future development costs relating to proved reserves and estimated costs of
plugging and abandonment, net of estimated salvage value, are amortized on the
unit-of-production method based on total proved reserves. The costs of unproved
properties are excluded from amortization until the properties are evaluated,
subject to an annual assessment of whether impairment has occurred.

            The Company's proved oil and gas reserves as at December 31, 2001
were estimated by Ryder Scott, L.P., Petroleum Consultants. The Company's
discounted present value of its proved oil and gas reserves requires subjective
judgments. Estimates of the Company's reserves are in part forecasts based on
engineering data, projected future rates of production and timing of future
expenditures. The process of estimating oil and gas reserves requires
substantial judgment, resulting in imprecise determinations, particularly for
new discoveries. Different reserve engineers may make different estimates of
reserve quantities based on the same data. The passage of time provides more
qualitative information regarding estimates of reserves and revisions are made
to prior estimates to reflect updated information. Given the volatility of oil
and gas prices, it is also reasonably possible that the Company's estimate of
discounted net cash flows from proved oil and gas reserves could change in the
near term. If oil and gas prices decline

                                       42



significantly as they did in 2001, this will result in a reduction of the
valuation of the Company's reserves. This past year, Ryder Scott based on
initial production results and the sharp decline of oil and gas prices,
significantly reduced the Company's estimated reserves of gas in the Swan Creek
Field from its reserve report for the year ended December 31, 2000. See, "Item 2
- - Description of Property - Reserve Analysis".


NEW ACCOUNTING PRONOUNCEMENTS

            The Company adopted Statement of Financial Accounting Standard
("SFAS") No. 133, "Accounting for Derivatives and Hedging Activities," effective
January 1, 2000. SFAS No. 133 ( as amended, by SFAS No. 137 and No. 138)
requires a company to recognize all derivatives on the balance sheet at fair
value. Derivatives that are not hedges must be adjusted to fair value through
income. If the derivative is a fair value hedge, changes in the fair value of
the hedged assets, liabilities or firm commitments are recognized through
earnings. If the derivative is a cash flow hedge the effective portion of
changes in the fair value of the derivative are recognized in other
comprehensive income until the hedged item is recognized in earnings. The
ineffective portion of a derivative's change in fair value is immediately
recognized in earnings. The adoption of SFAS no. 133, as amended, did not have a
material impact on the Company's consolidated financial statements for the year
ending December 31, 2001.

            In July 2001, the Financial Accounting Standards Board issued SFAS
No. 141, "Business Combinations" and SFAS No.142, "Goodwill and Other Intangible
Assets". SFAS No. 141 addresses the initial recognition and measurement of
goodwill and other intangible assets acquired in a business combination and SFAS
No. 142 addresses the initial recognition and measurement of intangible assets
acquired outside of a business combination whether acquired individually or with
a group of other assets. These standards require all future business
combinations to be accounted for using the purchase method of accounting.
Goodwill will no longer be amortized but instead will be subject to impairment
tests at least annually. The Company would have been required to adopt SFAS No.
141 on July 1, 2001, and to adopt SFAS 142 on a prospective basis as of January
1, 2002. The Company has not effected a business combination and carries no
goodwill on its balance sheet; accordingly, the adoption of these standards is
not expected to have an effect on the Company's financial position or results of
operations.

            In June 2001, the Financial Accounting Standards Board approved the
issuance of SFAS No. 143, "Accounting for Asset Retirement Obligations." SFAS
143 establishes accounting standards for the recognition and measurement of
legal obligations associated with the retirement of tangible long-lived assets
and requires recognition of a liability for an asset retirement obligation in
the period in which it is incurred. The provisions of this statement are
effective for financial statements issued for fiscal years beginning after June
15, 2002. The adoption of this statement is not expected to have a material
impact on the Company's financial position or results of operations.

                                       43



            SFAS No. 144, Accounting for the Impairment or Disposal of
Long-Lived Assets, addresses accounting and reporting for the impairment or
disposal of long-lived assets. SFAS No. 144 supersedes SFAS No. 121, Accounting
for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed
Of. SFAS No. 144 establishes a single accounting model for long-lived assets to
be disposed of by sale and expands on the guidance provided by SFAS No. 121 with
respect to cash flow estimations. SFAS No. 144 becomes effective for the
Company's fiscal year beginning January 1, 2002. There will be no current impact
of adoption on its financial position or results of operations.


ITEM 7A  QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS


COMMODITY RISK

            The Company's major market risk exposure is in the pricing
applicable to its oil and gas production. Realized pricing is primarily driven
by the prevailing worldwide price for crude oil and spot prices applicable to
natural gas production. Historically, prices received for oil and gas production
have been volatile and unpredictable and price volatility is expected to
continue. Monthly oil price realizations ranged from a low of $14.00 per barrel
to a high of $27.73 per barrel during 2001. Gas price realizations ranged from a
monthly low of $1.68 per Mcf to a monthly high of $9.80 per Mcf during the same
period.

            The Company entered into hedge agreements on December 28, 2001 on
notional volumes of oil and natural gas production for the first seven months of
2002 in order to manage some exposure to oil and gas price fluctuations.
Realized gains or losses from the Company's price risk management activities
will be recognized in oil and gas production revenues when earned since the
Company's positions are not considered hedges for financial reporting purposes.
Notional volumes associated with the Company's derivative contracts are 27,000
barrels and 630,000 MMBtu's for oil and natural gas, respectively. As these
activities are not effective until fiscal 2002, no gains or losses were
recognized for the year ended December 31, 2001. The Company does not generally
hold or issue derivative instruments for trading purposes.

            At December 31, 2001, the Company's open natural gas and crude oil
price swap positions are not considered to have a material fair value. Assuming
natural gas production and sales volumes remain consistent at December 2001
levels during the entire year of fiscal 2002, management believes that a 10
percent decrease in unhedged natural gas prices would reduce the Company's
natural gas revenues by approximately $41,610 on an annual basis. Assuming crude
oil production and sales volumes remain consistent at December 2001 levels
during the entire year of fiscal 2002, management believes that a 10 percent
decrease in unhedged crude oil prices would reduce the Company's crude oil
revenues by approximately $208,840 on an annual basis.

                                       44



INTEREST RATE RISK

            At December 31, 2001, the Company had debt outstanding of
approximately $10.3 million. The interest rate on the revolving credit facility
of $9.1 million is variable based on the financial institution's prime rate plus
0.25%. The remaining debt of $1.2 million has fixed interest rates ranging from
7.5% to 11.95%. As a result, the Company's annual interest costs in 2002 would
fluctuate based on short-term interest rates on approximately 88% of its total
debt outstanding at December 31, 2001. The impact on interest expense and the
Company's cash flows of a 10 percent increase in the financial institution's
prime rate (approximately .5 basis points) would be approximately $45,500,
assuming borrowed amounts under the credit facility remain at $9.1 million. The
Company did not have any open derivative contracts relating to interest rates at
December 31, 2001.


FORWARD-LOOKING STATEMENTS AND RISK

            Certain statements in this report, including statements of the
future plans, objectives, and expected performance of the Company, are
forward-looking statements that are dependent upon certain events, risks and
uncertainties that may be outside the Company's control, and which could cause
actual results to differ materially from those anticipated. Some of these
include, but are not limited to, the market prices of oil and gas, economic and
competitive conditions, inflation rates, legislative and regulatory changes,
financial market conditions, political and economic uncertainties of foreign
governments, future business decisions, and other uncertainties, all of which
are difficult to predict.

            There are numerous uncertainties inherent in estimating quantities
of proved oil and gas reserves and in projecting future rates of production and
the timing of development expenditures. The total amount or timing of actual
future production may vary significantly from reserves and production estimates.
The drilling of exploratory wells can involve significant risks, including those
related to timing, success rates and cost overruns. Lease and rig availability,
complex geology and other factors can also affect these risks. Additionally,
fluctuations in oil and gas prices, or a prolonged period of low prices, may
substantially adversely affect the Company's financial position, results of
operations and cash flows.


ITEM 8      FINANCIAL STATEMENTS

            The financial statements and supplementary data commence on page
F-1.


ITEM 9      CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
            FINANCIAL DISCLOSURE

            Not Applicable

                                       45



PART III


ITEM 10  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT


IDENTIFICATION OF DIRECTORS AND EXECUTIVE OFFICERS

            The following table sets forth the names of all current directors
and executive officers of the Company. These persons will serve until the next
annual meeting of stockholders (to be held at such time as the Board of
Directors shall determine) or until their successors are elected or appointed
and qualified, or their prior resignations or terminations.

                                                                 Date of Initial
                                     Positions                   Election or
Name                                 Held                        Designation
- -------------------                  --------                    -------

Joseph E. Armstrong                  Director                    3/13/97
4708 Hilldale Drive
Knoxville, TN 37914

Benton L. Becker                     Director                    8/31/99
1497 Lacosta Drive East
Pembrook Pines, FL 33027

Bill L. Harbert                      Director                    4/2/02
820 Shaders Creek Pkway
Birmingham, AL 35209

Robert D. Hatcher, Jr                Director                    8/8/00
107 Golden Gate Lane
Oak Ridge, TN 37830

Malcolm E. Ratliff                   Chairman of the             4/21/98
2100 Scott Lane                      Board; Chief Executive
Knoxville, TN 37922                  Officer

Charles Stivers                      Director                    9/28/01
420 Richmond Road
Manchester, KY 40962

Harold G. Morris, Jr                 President                   10/19/99
153 Chuniloti Way
Loudon, TN 37774

                                       46



Mark A. Ruth                         Chief Financial             12/14/98
9400 Hickory Knoll Lane              Officer
Knoxville, TN 37922

Robert M. Carter                     President Tengasco          6/1/98
760 Prince George Parish Drive       Pipeline Corporation
Knoxville, TN 37931

Cary V. Sorensen                     General Counsel;            07/9/99
509 Bretton Woods Dr.                Secretary
Knoxville, TN 37919

Sheila Sloan                         Treasurer                   12/4/96
121 Oostanali Way
Loudon, TN 37774

Jeffrey R. Bailey                    Chief Geological            3/1/02
2306 West Gallaher Ferry             Engineer
Knoxville, TN 37932


SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

            In fiscal 2001, Joseph Armstrong and Benton L. Becker, who are
Directors of the Company, each failed to timely file one Form 4 Report each
involving one transaction. Sanford E. McCormick who was a Director of the
Company until March 15, 2001 also failed to timely file one Form 4 Report
involving one transaction in 2001. In addition, Mr. Becker, as well as Robert D.
Hatcher, Jr., also a Director of the Company, each timely filed a Form 5 Report
for December 2001 which each reported one transaction that should have been
reported on an earlier Form 4 Report. Harold G. Morris, Jr., President of the
Company filed a Form 4 Report in 2001 that inadvertently was not filed in 1999
reporting one transaction. Malcolm E. Ratliff, the Company's Chief Executive
Officer and a Director of the Company, recently filed a timely Form 5 Report for
December 2001 which indicated that he failed to timely file eight Form 4 Reports
for 2001 involving 46 transactions. Mr. Ratliff also recently filed a Form 5
Report for December 2000 which should have been filed in 2001 indicating he had
failed to timely file five Form 4 Reports that were to be filed in 2000
involving 26 transactions. These deficiencies have all been cured.


BUSINESS EXPERIENCE

      DIRECTORS

            Joseph Earl Armstrong is 45 years old and a resident of Knoxville,
Tennessee. He is a graduate of the University of Tennessee and Morristown
College where he received a Bachelor of Science Degree in Business
Administration. From 1988 to the present, he has been an

                                       47



elected State Representative for Legislative District 15 in Tennessee. From 1994
to the present he has been in charge of government relations for the Atlanta
Life Insurance Co. From 1981 to 1994 he was a District Manager for the Atlanta
Life Insurance Co.

            Benton L. Becker is 64 years old. In 1960 he received a B.A. degree
from the University of Maryland. In 1966 he graduated from the American
University Law School in Washington, D.C. He is currently engaged in the private
practice of law in Coral Gables, Florida and Washington D.C., while regularly
serving as a Distinguished Lecturer on constitutional law at the University of
Miami in Coral Gables, Florida. His past positions include serving as a trial
attorney for the U. S. Department of Justice, the Dade County, Florida State's
Attorney Office and a Professor of Law at the University of Miami School of Law.
During his career Mr. Becker has represented the U.S. House of Representatives,
the Republican National Committee and President Gerald R. Ford. In 1976 Mr.
Becker represented Commonwealth Oil and Refining Company of Puerto Rico in a
Federal trial and Appellate action against Texaco, Exxon and Mobil and obtained
a multi-million dollar judgment for Commonwealth Oil. In 1980 he served as Board
Chairman for Appalachian Oil and Gas. From June 5, 1995 to January 30, 1997 he
served as Chairman of the Company's Board of Directors.

            Bill L. Harbert is 78 years old. He earned a B.S. degree in civil
engineering from Auburn University in 1948. In 1949 he was one of the founders
of Harbert Construction Company. He managed that company's construction
operations, both domestic and foreign, and served as its Executive
Vice-President until 1979. From 1979 until July, 1990 he served as President and
Chief Operating Officer and from July 1990 through December 1991 he served as
Vice Chairman of the Board of Harbert International, Inc. He then purchased a
majority of the international operations of Harbert International, Inc. and
formed Bill Harbert International Construction, Inc. He served as Chairman and
Chief Executive Officer of that corporation until retiring from the company in
2000. Mr. Harbert's companies built pipeline projects in the United States and
throughout the world. They also built many other projects including bridges,
commercial buildings, waste water treatment plants, airports, including an air
base in Negev, Israel and embassies for the United States government in, among
other places, Tel Aviv, Hong Kong, and Baku. Mr. Harbert has also served as
president (1979) and Director (1980) of the Pipe Line Contractors Association,
USA and for seven years as Director, Second Vice-President and First
Vice-President (2001-2002) of the International Pipe Line Contractors
Association. Mr. Harbert has been active in service to a variety of business
associations, charities and the arts in the Birmingham area for many years.

            Robert D. Hatcher, Jr. is 61 years old. He earned B.A. and M.S.
degrees from Vanderbilt University in 1961 and 1962, with majors in geology and
chemistry and a minor in mathematics. He earned a Ph.D. degree in 1965 from the
University of Tennessee (Knoxville), in structural geology with a minor in
chemistry. Thereafter, he worked with Humble Oil and Refining Company (now Exxon
USA) for one year. In 1966 he accepted a faculty position at Clemson University
where he taught and conducted research in the Appalachians until 1978. In 1978
Dr. Hatcher moved to Florida State University where he stayed until 1980. He
then taught at the University of South Carolina until 1986. In 1986, Dr. Hatcher
accepted a chair as a University

                                       48



of Tennessee/Oak Ridge National Laboratory Distinguished Scientist, which
position he currently maintains. He has served on the Council (Board of
Directors) of the Geological Society of America (a not-for-profit corporation)
from 1981-1983 and again from 1992-1994 when he served on the Executive
Committee and as President (1993). He is currently serving on the Board of
Trustees of the Geological Society of America Foundation. He served on the
Executive Committee of the American Geological Institute (a not-for-profit
corporation) from 1995-1997 and as President in 1996. He has also served on the
National Academy of Sciences Board on Radioactive Waste Management and on
several National Research Council, as well as on Federal Advisory Committees for
the Nuclear Regulatory Commission and the Department of the Interior. He served
as Science Advisor to South Carolina Governor Richard Riley for Off-Site
Disposal of Radioactive Waste from 1984 through 1986. He was honored in 1997 by
the I.C. White Award and in 1998 by being made an honorary citizen of West
Virginia, both recognizing his long-term contributions to Appalachian geology.
He is a Fellow in the American Association for the Advancement of Science. Dr.
Hatcher is the author of over 150 journal articles and several texts and
monographs, including a structural geology textbook which has been used in some
85 colleges and universities. He has also served as an Editor of the Geological
Society of America Bulletin.

            Malcolm E. Ratliff is 54 years old. He attended the University of
Mississippi and since 1971 has been involved in the oil and gas business with 30
years of hand-on experience in drilling and development of oil and gas wells,
seismic studies and laying pipe onshore and offshore. Mr. Ratliff holds numerous
oil and gas investments in companies throughout the United States. In April,
1995 he was instrumental in the founding of the Company and served as a
consultant to the Company's Board of Directors. In March, 1997 he became the
Chief Executive Officer of the Company and also acted as interim President of
the Company until he resigned in March, 1998 for health reasons. On April 21,
1998 at the request of the Company's Board of Directors, Mr. Ratliff agreed to
return to the management of the Company as its Chief Executive Officer. He has
served as Chairman of the Company's Board of Directors since June 19, 1998.

            Charles M. Stivers is 39 years old. He is a Certified Public
Accountant with 18 years accounting experience. In 1984 he received a B.S.
degree in accounting from Eastern Kentucky University. From 1983 through July
1986 he served as Treasurer and CEO for Clay Resource Company. From August 1986
through August 1989 he served as a senior tax and audit specialist for Gallaher
and Company. From September 1989 to date he has owned and operated Charles M.
Stivers, C.P.A., a regional accounting firm. The Firm specializes in the oil and
gas industry and has clients in eight states. The oil and gas work performed by
the Firm includes all forms of SEC audit work, SEC quarterly financial statement
filings, oil and gas consulting work and income tax services. The Firm has also
represented oil and gas companies with respect to Federal and State income tax
disputes in 15 states over the past 12 years. In September 2001, he was elected
as a director of the Company and is the chairman of the Company's audit
committee.

      OFFICERS

            Harold G. Morris, Jr. is 53 years old. In 1970 he received a B.S.
Degree in

                                       49



accounting from St. Peter's College in Jersey City, New Jersey. He is a member
of the National Association of Certified Fraud Examiners. From 1970 to 1975 he
worked in New York, New York for Main LaFrentz & Co., Certified Public
Accountants where he was a senior auditor for the firm's largest client, CPC
International, Inc. He was in charge of International Worldwide Consolidation,
along with the translation of multi-national currencies (Asian, European and
Canadian) into dollars. His experience includes audits of many industries
including the audit of Wall Street brokerage firms. From 1975 to 1980 he worked
for Foster Wheeler Corporate headquarters in Livingston, New Jersey as Chief
Internal Auditor where he assisted in all corporate mergers and acquisitions.
During this time he was promoted to CEO and CFO of Copeland Systems, Inc. and
then Treasurer/Controller of Chemical Separations Corp. in Oak Ridge Tennessee,
both of which were wholly owned subsidiaries of Foster Wheeler. From 1980 to
1983, Mr. Morris was Group Controller of Macawber Engineering's U.S., Japan,
England and Australian operations. From 1985 to 1999 he was Controller/Ass't.
Secretary for W. J. Savage Co., Inc. in Knoxville, Tennessee. He joined the
Company as Vice-President of Finance on October 19, 1999. On August 8, 2000 he
was elected as Executive Vice-President of the Company and on August 1, 2001 he
was elected as President of the Company.

            Mark A. Ruth is 43 years old. He is a certified public accountant
with 21 years accounting experience. He received a B.S. degree in accounting
with honors from the University of Tennessee at Knoxville. He has served as a
project controls engineer for Bechtel Jacobs Company, LLC; business manager and
finance officer for Lockheed Martin Energy Systems; settlement department head
and senior accountant for the Federal deposit Insurance Corporation; senior
financial analyst/internal auditor for Phillips Consumer Electronics
Corporation; and, as an auditor for Arthur Andersen and Company. From December
14, 1998 to August 31, 1999 he served as the Company's Chief Financial Officer.
On August 31, 1999 he was elected as a Vice-President of the Company and on
November 8, 1999 he was again appointed as the Company's Chief Financial
Officer.

            Robert M. Carter is 65 years old. He attended Tennessee Wesleyan
College and Middle Tennessee State College between 1954 and 1957. For 35 years
he was an owner of Carter Lumber & Building Supply Company and Carter Warehouse
in Loudon County, Tennessee. He has been with the Company since 1995 and during
that time has been involved in all phases of the Company's business including
pipeline construction, leasing, financing, and the negotiation of acquisitions.
Mr. Carter was elected Vice-President of the Company in March, 1996, as
Executive Vice-President in April 1997 and on March 13, 1998 he was elected as
President of the Company. He served as President of the Company until he
resigned from that position on October 19,1999. On August 8, 2000 he again was
elected as President of the Company and served in that capacity until July 31,
2001. He has served as President of Tengasco Pipeline Corporation, a wholly
owned subsidiary of the Company, from June 1, 1998 to the present.

            Cary V. Sorensen is 53 years old. He is a 1976 graduate of the
University of Texas School of Law and has undergraduate and graduate degrees
form North Texas State University and Catholic University in Washington, D.C.
Prior to joining the Company in July, 1999, he had been continuously engaged in
the practice of law in Houston, Texas relating to the energy industry

                                       50



since 1977, both in private law firms and a corporate law department, most
recently serving for seven years as senior counsel with the litigation
department of Enron Corp. before entering private practice in June, 1996. He has
represented virtually all of the major oil companies headquartered in Houston
and all of the operating subsidiaries of Enron Corp., as well as local
distribution companies and electric utilities in a variety of litigated and
administrative cases before state and federal courts and agencies in five
states. These matters involved gas contracts, gas marketing, exploration and
production disputes involving royalties or operating interests, land titles, oil
pipelines and gas pipeline tariff matters at the state and federal levels, and
general operation and regulation of interstate and intrastate gas pipelines. He
has served as Legal Counsel of the Company since July 9, 1999 and as Secretary
of the Company since March 4, 2002.

            Sheila F. Sloan is 46 years old. She graduated from South Lake High
School located in St. Clair Shores, Michigan in 1972. From 1981 to 1985 she
worked as a purchasing agent for Sequoyah Land Company located in Madisonville,
Tennessee. From 1990 to 1995 she managed the Form U-3 Weight Loss Centers in
Knoxville, Tennessee. She has been with the Company since January 1996. On
December 4, 1996 she was elected as the Company's Treasurer.

            Jeffrey R. Bailey is 44 years old. He graduated in 1980 from New
Mexico Institute of Mining and Technology with a B.S. degree in Geological
Engineering. Upon graduation he joined Gearhart Industries as a field engineer
working in Texas, New Mexico, Kansas, Oklahoma and Arkansas. Gearhart Industries
later merged with Halliburton Company. In 1993 after 13 years working in various
field operations and management roles primarily focused on reservoir evaluation,
log analysis and log data acquisition he assumed a global role with Halliburton
as a Petrophysics instructor in Fort Worth Texas. His duties were to teach
Halliburton personnel and customers around the world log analysis, competition
technology and to review anayltical reservoir problems. In this role Mr. Bailey
had the opportunity to review reservoirs in Europe, Latin America, Asia Pacific
and the Middle East developing a special expertise in carbonate reservoirs. In
1997 he became technical manager for Halliburton in Mexico focusing on finding
engineering solutions to the production challenges of large carbonate reservoirs
in Mexico. He joined the Company as its Chief Geological Engineer on March 1,
2002.


COMMITTEES

            The Company's Board has operating stock option, audit, compensation
and frontier exploration committees. In fiscal 2001 Messrs. Stivers, Becker and
Gray comprised the stock option committee. Messrs. Stivers, Hatcher and Gray
comprised the audit committee, Messrs. Armstrong, Becker and Gray were the
members of the compensation committee and Messrs. McCormick, Hatcher and
Armstrong comprised the frontier exploration committee. The Board also formed a
field safety committee consisting of members of the Board and Officers of the
Company. That committee in 2001 consisted of Messrs. Ratliff, Armstrong, Carter,
Sorensen and Jeffrey Brockman, the field supervisor for the Company's drilling
operations.

                                       51



FAMILY RELATIONSHIPS

            There are no family relationships between any of the present
directors or executive officers of the Company.


INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS

            To the knowledge of management, during the past five years, no
present or former director, executive officer, affiliate or person nominated to
become a director or an executive officer of the Company:

            (1)   Filed a petition under the federal bankruptcy laws or any
            state insolvency law, nor had a receiver, fiscal agent or similar
            officer appointed by a court for the business or property of such
            person, or any partnership in which he or she was a general partner
            at or within two years before the time of such filing, or any
            corporation or business association of which he or she was an
            executive officer at or within two years before the time of such
            filing;

            (2)   Was convicted in a criminal proceeding or named subject of a
            pending criminal proceeding (excluding traffic violations and other
            minor offenses);

            (3)   Was the subject of any order, judgment or decree, not
            subsequently reversed, suspended or vacated, of any court of
            competent jurisdiction, permanently or temporarily enjoining him or
            her from or otherwise limiting his or her involvement in any type of
            business, securities or banking activities;

            (4)   Was found by a court of competent jurisdiction in a civil
            action, by the Securities and Exchange Commission or the Commodity
            Futures Trading Commission to have violated any federal or state
            securities law, and the judgment in such civil action or finding by
            the Securities and Exchange Commission has not been subsequently
            reversed, suspended, or vacated.


ITEM  11 EXECUTIVE COMPENSATION

            The following table sets forth a summary of all compensation awarded
to, earned or paid to, the Company's Chief Executive Officer during fiscal years
ended December 31, 2001, December 31, 2000 and December 31, 1999. None of the
Company's other executive officers earned compensation in excess of $100,000 per
annum for services rendered to the Company in any capacity.

                                       52



                           SUMMARY COMPENSATION TABLE



                                                                               -----------LONG TERM AWARDS-----
                           ANNUAL COMPENSATION                                 -----------AWARDS----PAYOUTS
====================================================================================================================================
Name and                  YEAR       SALARY ($)   BONUS ($)   OTHER ANNUAL     RESTRICTED   SECURITIES        PAYOUTS   ALL OTHER
Principal Position                                            COMPENSATION($)  STOCK        UNDERLYING                  COMPEN-
                                                                               AWARDS($)    OPTIONS /SARS(#)            SATION
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                                                
Malcolm E. Ratliff,       2001       $ 80,000     $-0-        $1,000           -0-          52,500(6)         -0-       -0-
Chief Executive Officer   2000       $ 70,000     $-0-        $  500           -0-          52,500            -0-       -0-
                          1999       $ 60,000     $-0-        $  500           -0-          52,500            -0-       -0-

====================================================================================================================================


- ----------
(1)   Number of shares underlying options has been retroactively adjusted for a
5% stock dividend declared by the Company as of September 4, 2001. 1 Number of
shares underlying the unexercised options has been retroactively adjusted for a
5% stock dividend declared by the Company as of September 4, 2001.

                                       53



OPTION GRANTS FOR FISCAL 2001

            No options were granted during fiscal year ended December 31, 2001
to the Chief Executive Officer. None of the Company's other executive officers
earned compensation in excess of $100,000 per annum for services rendered to the
Company in any capacity during the fiscal year ended December 31, 2001.


AGGREGATE OPTION EXERCISES FOR FISCAL 2001
AND YEAR END OPTION VALUES



                                                         ========================= =========================
                                                         NUMBER OF SECURITIES(7)     VALUE(8) OF UNEXERCISED
                                                         UNDERLYING  UNEXERCISED     IN-THE-MONEY
                                                         OPTIONS / SARS       AT     OPTIONS/SARS AT
                                                         DECEMBER 31, 2001           DECEMBER 31, 2001
======================== ================== ============
         NAME             SHARES ACQUIRED   VALUE ($)      EXERCISABLE/                    EXERCISABLE/
                            ON EXERCISE     REALIZED(9)    UNEXERCISABLE                  UNEXERCISABLE
- ------------------------ ------------------ ------------ ------------------------- -------------------------
                                                                              
Malcolm E. Ratliff              -0-             -0-             52,500/-0-                $-0-/-0-
======================== ================== ============ ========================= =========================



            No options were exercised during fiscal year ended December 31, 2001
by the Chief Executive Officer. None of the Company's other executive officers
earned compensation in excess of $100,000 per annum for services rendered to the
Company in any capacity.

            The Company adopted an employee health insurance plan in August
2001. The Company does not presently have a pension or similar plan for its
directors, executive officers or employees. Management intends to adopt a 401(k)
plan and full liability insurance for directors and executive officers in the
near future.

- ----------
(7)   Number of shares underlying the unexercised options has been retroactively
adjusted for a 5% stock dividend declared by the Company as of September 4,
2001.

(8)   Unexercised options are in-the-money if the fair market value of the
underlying securities exceeds the exercise price of the option. The fair market
value of the Common Stock was $8.28 per share on December 31, 2001, as reported
by The American Stock Exchange. The exercise price of the unexercised option
granted to Malcolm E. Ratliff, the Chief Executive Officer of the Company, is
$8.69 per share. As a result, the unexercised options have a negative value.

(9)   Value realized in dollars is based upon the difference between the fair
market value of the underlying securities on the date of exercise, and the
exercise price of the option.

                                       54



COMPENSATION OF DIRECTORS

            The Board of Directors has resolved to compensate members of the
Board of Directors for attendance at meetings at the rate of $250 per day,
together with direct out-of-pocket expenses incurred in attendance at the
meetings, including travel. The Directors, however, have waived such fees due to
them as of this date for prior meetings.

      Members of the Board of Directors may also be requested to perform
consulting or other professional services for the Company from time to time. The
Board of Directors has reserved to itself the right to review all directors'
claims for compensation on an ad hoc basis.


EMPLOYMENT CONTRACTS

            The Company has entered into an employment contract with its Chief
Geological Engineer, Jeffrey R. Bailey for a period of one year through February
28, 2003 at an annual salary of $84,000. There are presently no other employment
contracts relating to any member of management. However, depending upon the
Company's operations and requirements, the Company may offer long term contracts
to directors, executive officers or key employees in the future.


COMPENSATION COMMITTEE INTERLOCKING
AND INSIDER PARTICIPATION

      There are no interlocking relationship between any member of the Company's
Compensation Committee and any member of the compensation committee of any other
company, nor has any such interlocking relationship existed in the past. No
member of the Compensation Committee is or was formerly an officer or an
employee of the Company.


ITEM 12  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

            The following tables set forth the share holdings of the Company's
directors and executive officers and those persons who own more than 5% of the
Company's common stock as of March 1, 2002 with these computations being based
upon 10,656,401 shares of common stock being outstanding as of that date and
assumes the exercise of 383,250 shares vested under options granted by the
Company as of March 1, 2002.

                                       55



                          FIVE PERCENT STOCKHOLDERS(10)

                                                 NUMBER OF SHARES     PERCENT
NAME AND ADDRESS                  TITLE          BENEFICIALLY OWNED   OF CLASS
- ----------------                  -----          ------------------   --------
Industrial Resources              Stockholder        2,823,987(11)     26.4%
Corporation
603 Main Ave
Knoxville, TN 37902

Spoonbill, Inc.                   Stockholder          878,198          8.24%
Tung Wai Commercial Bldg
20th Floor
109-111 Gloucester Rd
Wanchai, Hong Kong

Bill L. Harbert                   Stockholder/       1,077,667         10.11%
820 Shaders Creek Pkwy            Director
Birmingham, AL 35209

- ----------
(10)  Unless otherwise stated, all shares of Common Stock are directly held with
sole voting and dispositive power. The shares set forth in the table reflect the
5% stock dividend declared by the Company for shareholders of record as of
September 4, 2001.

(11)  Malcolm E. Ratliff, the Chief Executive Officer and Chairman of the Board
of Directors of the Company is the sole owner of the outstanding securities and
President of Industrial Resources Corporation (" IRC").Ownership of the IRC
shares was previously transferred from Malcolm E. Ratliff, due to his illness,
to his father, James Ratliff. In December 1999 ownership of the IRC shares was
transferred back to Malcolm E. Ratliff from his father. Malcolm E. Ratliff's
wife, Linda Ratliff, is the Secretary of IRC. Accordingly, IRC may be deemed to
be an affiliate of the Company. James Ratliff, who is the father of Malcolm E.
Ratliff, is the sole shareholder and President of Ratliff Farms, Inc. Malcolm E.
Ratliff is the Vice-President/Secretary of Ratliff Farms. Malcolm E. Ratliff has
voting control of the shares of the Company owned by Ratliff Farms, Inc.
Accordingly, Ratliff Farms, Inc. may also be deemed to be an affiliate of the
Company. The shares listed here for IRC include 2,299,744 shares owned directly
by IRC, 59,171 shares owned directly and an option to purchase 52,500 shares
held by Malcolm E. Ratliff, 381,072 shares owned directly by Ratliff Farms, Inc.
and 31,500 shares owned directly by a trust of which Linda Ratliff is trustee
and the children of Malcolm E. Ratliff are the beneficiaries. The shares listed
here do not include shares of the Company owned directly by James Ratliff.

                                       56



                           DIRECTORS AND OFFICERS(12)

                                             NUMBER OF SHARES     PERCENT
NAME AND ADDRESS              TITLE          BENEFICIALLY OWNED   OF CLASS
- ----------------              -----          ------------------   --------
Joseph Earl Armstrong         Director             51,4502         Less than 1%
4708 Hilldale Drive
Knoxville, TN 37914

Benton L. Becker              Director             73,7503         Less than 1%
1497 Lacosta Drive East
Pembrook Pines, FL 33027

Robert D. Hatcher, Jr         Director              52,605(15)     Less than 1%
107 Golden Gate Lane
Oak Ridge, TN 37830

Bill L. Harbert               Director           1,077,667         10.11%
820 Shaders Creek Pkwy
Birmingham, AL 35209

Malcolm E. Ratliff            Chief Executive    2,823,987(16)      26.4%
2100 Scott Lane               Officer; Chairman
Knoxville, TN 37922           of the Board

- ----------
(12)  Unless otherwise stated, all shares of Common Stock are directly held with
sole voting and dispositive power. The shares set forth in the table reflect the
5% stock dividend declared by the Company for shareholders of record as of
September 4, 2001.

(13)   Consists of 9,450 shares held directly and an option to purchase 42,000
shares.

(14)   Consists of 21,250 shares owned directly and an option to purchase 52,500
shares.

(15)   Consists of 105 shares owned directly and an option to purchase 52,500
shares.

(16)   Malcolm E. Ratliff, the Company's Chief Executive Officer and Chairman of
the Board of Directors, is also the sole shareholder and President of Industrial
Resources Corporation ("IRC"). Ownership of the IRC shares was previously
transferred from Malcolm E. Ratliff, due to his illness to his father, James
Ratliff. In December 1999 ownership of the IRC shares was transferred back to
Malcolm E. Ratliff from his father. Linda Ratliff, Malcolm E. Ratliff's wife, is
the Secretary of IRC.James Ratliff, who is the father of Malcolm E. Ratliff, is
the sole shareholder and president of Ratliff Farms, Inc. Malcolm E. Ratliff is
the Vice-President/Secretary of Ratliff Farms, Inc. Malcolm E. Ratliff has
voting control over the shares of the Company owned by Ratliff Farms, Inc. The
shares listed here include 2,299,744 shares owned directly by IRC, 59,171 shares
owned directly and an option to purchase 52,500 shares held by Malcolm E.
Ratliff, 381,072 owned directly by Ratliff Farms, Inc. and 31,500 shares owned
directly by a trust of which Linda Ratliff is trustee and the beneficiaries are
the children of Malcolm E. Ratliff (the "Ratliff Trust"). The shares listed here
do not include shares of the Company owned directly by James Ratliff.

                                       57



Charles M. Stivers          Director                   -0-          -0-
420 Richmond Road
Manchester, KY 40962

Harold G. Morris, Jr        President               61,817(17)      Less than 1%
153 Chuniloti Way
Loudon, TN 37774

Robert M. Carter            President               54,946(18)      Less than 1%
760 Prince Georges Parish   Tengasco Pipeline
Knoxville, TN 37922         Corporation

Mark A. Ruth                Chief Financial         36,750(19)      Less than 1%
9400 Hickory Knoll Lane     Officer
Knoxville, TN 37931

Cary V. Sorensen            General Counsel;        31,500(20)      Less than 1%
509 Bretton Woods Dr.       Secretary
Knoxville, TN 37919

Sheila F. Sloan             Treasurer               17,850(21)      Less than 1%
121 Oostanali Way
Loudon, TN 37774

Jeffrey R. Bailey           Chief Geological           -0-          -0-
2306 West Gallaher Ferry    Engineer
Knoxville, TN 37932

All Officers and                                 4,282,322(22)      38.8%
Directors as a group

- ----------
(17)  Consists of 5,775 shares held directly, 3,542 shares owned by his wife and
an option to purchase 52,500 shares.

(18)  Consists of 7,696 shares held directly and an option to purchase 47,250
shares.

(19)  Consists of shares underlying an option.

(20)  Consists of shares underlying an option.

(21)  Consists of 2,100 shares held directly and an option to purchase 15,750
shares.

(22)  Consists of shares held directly and indirectly by management, shares held
by IRC, shares held by Ratliff Farms, Inc., shares held by the Ratliff Trust and
383,250 shares underlying options.

                                       58



CHANGES IN CONTROL

            Except as indicated below, to the knowledge of the Company's
management, there are no present arrangements or pledges of the Company's
securities which may result in a change in control of the Company.


ITEM 13  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

TRANSACTIONS WITH MANAGEMENT AND OTHERS

            Except as set forth hereafter, there have been no material
transactions, series of similar transactions or currently proposed transactions,
to which the Company or any of its subsidiaries was or is to be a party, in
which the amount involved exceeds $60,000 and in which any director or executive
officer or any security holder who is known to the Company to own of record or
beneficially more than 5% of the Company's common stock, or any member of the
immediate family of any of the foregoing persons, had a material interest.


            On January 24, 2001, the Stock Option Committee granted an
additional option pursuant to the Tengasco, Inc. Stock Incentive Plan to Shigemi
Morita, who at the time was a Director of the Company (he subsequently resigned
from that position on February 1, 2002 for personal reasons) to purchase 20,000
shares of the Company's common stock for a period of three years at a price of
$14.44 per share.

            On November 8, 2001, the Company signed a credit facility with the
Energy Finance Division of Bank One, N.A. in Houston, Texas whereby Bank One
extended to the Company a revolving credit line of up to $35 million. The
initial borrowing base under the facility was $10 million. The balance of the
borrowing base is to be adjusted upon periodic review by Bank One based upon the
Company's oil and gas reserves. The interest rate is the Bank One base rate plus
one-quarter percent. On November 9, 2001, funds from the initial borrowing base
of $10 million were used by the Company to, among other things, repay the
internal financing provided by Directors and shareholders of the Company to
complete Phase II of the Company's pipeline in the aggregate amount of $3.85
million of which the sum of $500,000 was loaned by Morita Properties, Inc., an
affiliate of Shigemi Morita, who at the time was a Director of the Company,
$1,000,000 was loaned by Edward W.T. Gray III, a Director of the Company and
$250,000 was loaned by Malcolm E. Ratliff, Chairman of the Board of Directors
and Chief Executive Officer of the Company; prepay a purchase money note due to
Malcolm E. Ratliff issued in connection with the Company's purchase of a
drilling rig and related equipment from Mr. Ratliff in the amount of
$1,003,844.44; and, prepay in full the remaining principal of the working
capital loan due December 31, 2001 to Edward W.T.Gray III, a Director of the
Company, in the amount of $304,444.44. All of these obligations incurred
interest at a rate substantially greater than the rate

                                       59



being charged by Bank One under the Credit Facility. See, "Item 7 - Liquidity
and Financial Condition."

            In January 2001, Ratliff Farms, Inc. transferred 164,000 of its
shares in the Company to James Ratliff, its sole shareholder and President and
who is the father of Malcolm E. Ratliff. Malcolm E. Ratliff is the
Vice-President/Secretary of Ratliff Farms, Inc. and has voting control over the
shares of the Company owned by Ratliff Farms, Inc. He does not have voting
control over the shares of the Company owned by James Ratliff, nor are these
shares included in determining the number of shares controlled by Malcolm E.
Ratliff and/or Industrial Resources Corp. See, "Item 12 - Security Ownership of
Certain Beneficial Owners and Management."


INDEBTEDNESS OF MANAGEMENT

            No officer, director or security holder known to the Company to own
of record or beneficially more than 5% of the Company's common stock or any
member of the immediate family of any of the foregoing persons is indebted to
the Company.


PARENT OF THE ISSUER

            Unless IRC may be deemed to be a parent of the Company, the Company
has no parent.


PART IV

ITEM 14  EXHIBITS AND REPORTS

1.    Financial Statements:
         Consolidated Balance Sheets
         Consolidated Statements of Loss
         Consolidated Statements of Stockholders' Equity
         Consolidated Statements of Cash Flows

2.    Exhibits.

(a) - The following documents heretofore filed by the Company with the
commission are hereby incorporated by reference herein from:

                                       60



(i)   Registration Statement on Form 10-SB filed with the Commission August 7,
1997 (Registration No. 0-29386)

Exhibit Number and Description

     3.1          Initial Articles of Incorporation
     3.2          Bylaws
     3.3          Articles of Amendment dated April 12, 1966
     3.4          Articles of Amendment dated July 12, 1984
     3.5          Articles of Amendment dated December 18, 1991
     3.6          Articles of Amendment dated September 11, 1992
     3.7          Articles of Incorporation of the Tennessee of wholly-owned
                  subsidiary
     3.8          Articles of Merger and Plan of Merger (taking into account the
                  formation of the Tennessee wholly-owned subsidiary for the
                  purpose of changing the Company's domicile and effecting
                  reverse split)
     5.1          Opinion of Robson & Miller, LLP
     10.1(a)      Purchase Agreement with IRC
     10.1(b)      Amendment to Purchase Agreement with IRC
     10.1(c)      General Bill of Sale and Promissory Note
     10.2(a)      Compensation Agreement - M. E. Ratliff
     10.2(b)      Compensation Agreement - Jeffrey D. Jenson
     10.2(c)      Compensation Agreement - Leonard W. Burningham
     10.3         Agreement with The Natural Gas Utility District of Hawkins
                  County, Tennessee
     10.4         Agreement with Powell Valley Electric Cooperative, Inc.
     10.5         Agreement with Enserch Energy Services, Inc.
     16.1         Letter of David T. Thomson, CPA, Regarding Change in
                  Certifying Accountant
     16.2         Letter of Charles M. Stivers, CPA, Regarding Change in
                  Certifying Accountant
     16.3         Letter of Price-Bednar, LLP, CPA, Regarding Change in
                  Certifying Accountant
     23.1         Consent of Charles M. Stivers, CPA
     23.2         Consent of David T. Thomson, CPA
     23.3         Consent of BDO Seidman, LLP
     23.4         Consent of Robson & Miller, LLP
     99.1         Beech Creek Lease Schedule
     99.2         Wildcat Lease Schedule
     99.3         Burning Springs Lease Schedule
     99.4         Fentress County Lease Schedule
     99.5         Swan Creek Lease Schedule
     99.6         Alabama Lease Schedule
     99.7         Coburn Engineering Report dated June 18, 1997.

                                       61



(ii)  Amendment No. 1 to the Registration Statement on Form 10-SB filed with the
Commission December 11, 1997 (Registration No. 0-29386)

Exhibit Number and Description

     5.1          Opinion of Robson & Miller, LLP
     23.1         Consent of Charles M. Stivers, CPA
     23.3         Consent of BDO Seidman, LLP
     23.4         Consent of Robson & Miller, LLP
     23.5         Consent of Coburn Petroleum Engineering Co.

(iii) Current Report on Form 8-K, Date of Report, February 27, 1998:

Exhibit Number and Description

     2.1          Plan of Acquisition. Agreement dated December 18, 1997 between
                  AFG Energy, Inc. and Tengasco, Inc. regarding sale of assets
                  of AFG Energy, Inc.

(iii) Current Report on Form 8-KA, Date of Report, February 27, 1998:

Exhibit Number and Description

                  Financial Statements of Business Acquired (AFG Energy, Inc.)
                  Independent auditor's report, statement of revenues and direct
                  operating expenses and notes to financial statements of the
                  properties acquired by Tengasco, Inc. from AFG Energy, Inc.
                  Pro Forma Financial Information Pro forma combined statements
                  of loss for year ended December 31, 1997 for Tengasco, Inc.
                  from AFG Energy, Inc.

     2.1(a)       Exhibit A to Agreement dated December 18, 1997 between AFG
                  Energy, Inc. and Tengasco, Inc. regarding sale of assets of
                  AFG Energy, Inc.

     2.1(a)       Exhibit A to Agreement dated December 18, 1997 between AFG
                  Energy, Inc. and Tengasco, Inc. regarding sale of assets of
                  AFG Energy, Inc.

(iv)  Annual Report on Form 10-KSB, Date of Report, April 10, 1998

Exhibit Number and Description

     10.6         Teaming Agreement between Operations Management International,
                  Inc. and Tengasco, Inc. dated March 12, 1997

     10.7         Agreement for Transition Services between Operations
                  Management
                                       62



                  International, Inc. and Tengasco, Inc. regarding thEast
                  Tennessee Technology Park


     99.8         Coburn Engineering Report dated February 18, 1997 (Paper copy
                  filed on Form SE pursuant to continuing hardship granted by
                  Office of EDGAR Policy)

     99.9         Columbia Engineering Report dated March 2, 1997 (Paper copy
                  filed on Form SE pursuant to continuing hardship granted by
                  Office of EDGAR Policy)

(v)   Annual Report on Form 10-KSB, Date of Report, April 14, 1999

Exhibit Number and Description

     3.9          Amendment to the Corporate Charter dated June 24, 1998
     3.10         Amendment to the Corporate Charter dated October 30, 1998
     99.10        Coburn Engineering Report dated February 9, 1999 (Paper copy
                  filed on Form SE pursuant to continuing hardship granted by
                  Office of EDGAR Policy)
     99.11        Columbia Engineering Report dated February 20, 1999 (Paper
                  copy filed on Form SE pursuant to continuing hardship granted
                  by Office of EDGAR Policy)

(vi)  Current Report on Form 8-K, Date of Report, October 18, 1999:

Exhibit Number and Description

     10.9         Amendment Agreement dated October 19, 1999 between Tengasco,
                  Inc. and The Natural Gas Utility District of Hawkins County,
                  Tennessee

(vii) Current Report on Form 8-KA, Date of Report, November 18, 1999:

Exhibit Number and Description

     10.10        Natural Gas Sales Agreement dated November 18, 1999 between
                  Tengasco, Inc. and Eastman Chemical Company

(viii) Annual Report on Form 10-KSB, Date of Report, April 12, 2000

Exhibit Number and Description

     3.11         Amendment to the Corporate Charter filed March 17 , 2000
     10.11        Agreement between A.M. Partners L.L.C. and Tengasco, Inc.
                  dated October 6, 1999
     10.12        Agreement between Southcoast Capital L.L.C. and Tengasco, Inc.
                  dated February 25, 2000

                                       63



     10.13        Franchise Agreement between Powell Valley Utility District and
                  Tengasco, Inc. dated January 25, 2000
     10.14        Amendment Agreement between Eastman Chemical Company and
                  Tengasco, Inc. dated March 27, 2000
     99.12        Coburn Engineering Report dated March 30, 2000 (Paper copy
                  filed on Form SE pursuant to continuing hardship granted by
                  Office of EDGAR Policy)
     99.13        Columbia Engineering Report dated January 31, 2000 (Paper copy
                  filed on Form SE pursuant to continuing hardship granted by
                  Office of EDGAR Policy)

(ix)  Current Report on Form 8-K, Date of Report, August 16, 2000:

Exhibit Number and Description


     10.15        Loan Agreement between Tengasco Pipeline Corporation and
                  Morita Properties, Inc. dated August 16, 2000.

     10.15(a)     Promissory note made by Tengasco Pipeline Corporation to
                  Morita Properties, Inc. dated August 16, 2000.

     10.15(b)     Throughput Agreement between Tengasco Pipeline Corporation and
                  Morita Properties, Inc. dated August 16, 2000.

     10.16        Loan Agreement between Tengasco Pipeline Corporation and
                  Edward W.T. Gray III dated August 16, 2000.

     10.16(a)     Promissory note made by Tengasco Pipeline Corporation to
                  Edward W.T. Gray III dated August 16, 2000.

     10.16(b)     Throughput Agreement between Tengasco Pipeline Corporation and
                  Edward W.T. Gray III dated August 16, 2000.

     10.17        Loan Agreement between Tengasco Pipeline Corporation and
                  Malcolm E. Ratliff dated August 16, 2000.

     10.17(a)     Promissory note made by Tengasco Pipeline Corporation to
                  Malcolm E. Ratliff dated August 16, 2000.

     10.17(b)     Throughput Agreement between Tengasco Pipeline Corporation and
                  Malcolm E. Ratliff dated August 16, 2000.

     10.18        Loan Agreement between Tengasco Pipeline Corporation and
                  Charles F. Smithers, Jr. dated August 16, 2000.


                                       64



     10.18(a)     Promissory note made by Tengasco Pipeline Corporation to
                  Charles F. Smithers, Jr.

     10.18(b)     Throughput Agreement between Tengasco Pipeline Corporation and
                  Charles F. Smithers dated August 16, 2000.

     10.19        Loan Agreement between Tengasco Pipeline Corporation and Nick
                  Nishiwaki dated August 16, 2000.

     10.19(a)     Promissory note made by Tengasco Pipeline Corporation to Nick
                  Nishiwaki dated August 16, 2000.

     10.19(b)     Throughput Agreement between Tengasco Pipeline Corporation and
                  Nick Nishiwaki dated August 16, 2000.



(x)   S-8 Registration Statement for shares to be purchased pursuant to options
granted pursuant to the Tengasco, Inc. Stock Incentive Plan dated October 25,
2000:

Exhibit Number and Description

     4.1          Tengasco, Inc. Incentive Stock Plan

     5.1          Opinion of Robson Ferber Frost Chan & Essner, LLP

     23.1         Consent of BDO Seidman, LLP

     23.2         Consent of Robson Ferber Frost Chan & Essner, LLP contained in
                  Exhibit No. 5.1


(xi)  Annual Report on Form 10-KSB, Date of Report, April 10, 2001

Exhibit Number and Description

     10.19        Memorandum Agreement between Tengasco, Inc. and The University
                  of Tennessee dated February 13, 2001

     10.20        Natural Gas Sales Agreement between Tengasco, Inc. and BAE
                  SYSTEMS Ordnance Systems Inc. dated March 30, 2001

     99.14        Ryder Scott Report

                                       65



     99.14(a)     Consent of Ryder Scott Company

(xii) Quarterly Report on Form 10-Q, Date of Report, April 10, 2001

Exhibit Number and Description

     10.21        Reducing Revolving Line of Credit Up to $35,000,000 from Bank
                  One, N.A. to Tengasco, Inc., Tennessee Land & Mineral
                  Corporation and Tengasco Pipeline Corporation dated November
                  8, 2001

The following exhibits are filed herewith:

     99.15        Ryder Scott Report dated March 28, 2002

     99.15(a)     Consent of Ryder Scott Company

     21           List of Subsidiaries



                                   SIGNATURES

      Pursuant to the requirements of Section 13 or 15 (d) of the Securities and
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

Dated: April 19, 2002

                                      TENGASCO, INC.
                                      (Registrant)

                                      By: s/ MALCOLM E. RATLIFF
                                          ---------------------
                                      Malcolm E. Ratliff,
                                      Chief Executive Officer



                                      By: s/ MARK A. RUTH
                                          ---------------
                                      Mark A. Ruth,
                                      Principal Financial and Accounting Officer


                                       66



Pursuant to the requirements of the Securities and Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in their capacities and on the dates indicated.

Signature                              Title                          Date

s/ MALCOLM E.  RATLIFF         Chief Executive Officer;           April 19, 2002
- ------------------------       Chairman of the Board
Malcolm E. Ratliff             of Directors



s/ JOSEPH EARL ARMSTRONG       Director                           April 18, 2002
- ------------------------
Joseph Earl Armstrong


s/ BENTON L. BECKER            Director                           April 19, 2002
- ------------------------
Benton L. Becker


s/ BILL L. HARBERT             Director                           April 19, 2002
- ------------------------
Bill L. Harbert


s/ ROBERT D. HATCHER, JR.      Director                           April 18, 2002
- ------------------------
Robert D. Hatcher, Jr.


s/ CHARLES M. STIVERS          Director                           April 19, 2002
- ------------------------
Charles M. Stivers


s/ HAROLD G. MORRIS, JR.       President                          April 19, 2002
- ------------------------
Harold G. Morris, Jr.


s/ MARK A. RUTH                Principal Financial                April 19, 2002
- ------------------------       and Accounting Officer
Mark A. Ruth


                                       67






                                TENGASCO, INC.
                              AND SUBSIDIARIES






                                               CONSOLIDATED FINANCIAL STATEMENTS
                                    YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999














                                TENGASCO, INC.
                              AND SUBSIDIARIES




- --------------------------------------------------------------------------------


                                               CONSOLIDATED FINANCIAL STATEMENTS
                                    YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999






                                                                             F-1



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                                                        CONTENTS



- --------------------------------------------------------------------------------



          INDEPENDENT AUDITORS' REPORT                                       F-3


          CONSOLIDATED FINANCIAL STATEMENTS

              Consolidated Balance sheets                                  F-4-5

              Consolidated Statements of loss                                F-6

              Consolidated Statements of stockholders' equity              F-7-8

              Consolidated Statements of cash flows                       F-9-10

              Notes to consolidated financial statements                 F-11-37







                                                                             F-2







Independent Auditors' Report



Board of Directors
  Tengasco, Inc. and Subsidiaries
Knoxville, Tennessee

We have audited the accompanying  consolidated balance sheets of Tengasco,  Inc.
and Subsidiaries as of December 31, 2001 and 2000, and the related  consolidated
statements  of loss,  stockholders'  equity and cash flows for each of the three
years in the period ended December 31, 2001. These financial  statements are the
responsibility of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the  United  States of  America.  Those  standards  require  that we plan and
perform the audits to obtain  reasonable  assurance  about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion, the consolidated  financial statements referred to above present
fairly, in all material respects,  the financial position of Tengasco,  Inc. and
Subsidiaries  as of  December  31,  2001  and  2000,  and the  results  of their
operations  and their cash flows for each of the three years in the period ended
December 31, 2001 in conformity with accounting principles generally accepted in
the United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 2 to the
financial statements,  the Company has suffered recurring losses from operations
and has an accumulated deficit of $24,115,382.  Additionally,  on April 5, 2002,
the  Company's  lender  reduced its borrowing  base under its revolving  line of
credit  agreement by  $6,000,000,  which amount has become  immediately  due and
payable  resulting in a significant  working  capital  deficiency.  Such matters
raise  substantial  doubt  about the  Company's  ability to  continue as a going
concern.  Management's  plans in regard to these  matters are also  described in
Note 2. The  financial  statements  do not  include any  adjustments  that might
result from the outcome of this uncertainty.






Atlanta, Georgia
March 12, 2002, except for Note 2,
which is as of April 12, 2002






                                                                             F-3







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                                     CONSOLIDATED BALANCE SHEETS



- --------------------------------------------------------------------------------







DECEMBER 31,                                                          2001            2000
- ----------------------------------------------------------------------------------------------

                                                                             
ASSETS (Note 7)

CURRENT
   Cash and cash equivalents                                    $   393,451        $1,603,975
   Investments                                                      150,000                --
   Accounts receivable                                              661,475           684,132
   Participant receivables                                           84,097            65,254
   Inventory                                                        159,364           251,345
- ----------------------------------------------------------------------------------------------

TOTAL CURRENT ASSETS                                              1,448,387         2,604,706

OIL AND GAS PROPERTIES, net (on the basis
   of full cost accounting) (Notes 4, 7 and 15)                  13,269,930         9,790,047

COMPLETED PIPELINE FACILITIES, net (Notes 5 and 7)               15,039,762         4,200,000

PIPELINE FACILITIES UNDER CONSTRUCTION, at cost (Note 5)                 --         6,847,038

OTHER PROPERTY AND EQUIPMENT, net (Notes 6 and 7)                 1,680,104         1,677,432

RESTRICTED CASH (Notes 1 and 8)                                     120,872                --

LOAN FEES, net of accumulated amortization of $21,590               496,577                --

OTHER                                                                72,613           105,501
- ----------------------------------------------------------------------------------------------












                                                                $32,128,245        $25,224,724
- ----------------------------------------------------------------------------------------------
                                   SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.



                                                                             F-4







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                                     CONSOLIDATED BALANCE SHEETS



- --------------------------------------------------------------------------------



DECEMBER 31,                                                         2001              2000
- ----------------------------------------------------------------------------------------------

                                                                             
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

   Current maturities of long-term debt - related party
     (Notes 3 and 7)                                            $        --        $  500,000
   Current maturities of long-term debt (Note 7)                  6,399,831         1,608,486
   Accounts payable - trade                                       1,208,164         1,016,462
   Accrued interest payable                                          54,138            56,657
   Accrued dividends payable                                        112,458            78,778
   Other accrued liabilities                                             --            52,640
- ----------------------------------------------------------------------------------------------

TOTAL CURRENT LIABILITIES                                         7,774,591         3,313,023
- ----------------------------------------------------------------------------------------------

LONG-TERM DEBT - RELATED PARTIES, less current
   maturities (Notes 3 and 7)                                            --         4,845,000

LONG TERM DEBT, less current maturities (Note 7)                  3,902,757         2,263,599
- ----------------------------------------------------------------------------------------------

Total long-term debt                                              3,902,757         7,108,599
- ----------------------------------------------------------------------------------------------

Total liabilities                                                11,677,348        10,421,622
- ----------------------------------------------------------------------------------------------

COMMITMENTS AND CONTINGENCIES (Notes 2 and 8)

PREFERRED STOCK, $.0001 par value; authorized
  25,000,000 shares (Note 9):

  Series A 8% cumulative, convertible,
    mandatorily redeemable; 28,679 and 29,389
    shares outstanding; redemption value
    $2,867,900 and $2,938,900                                     2,867,900         2,938,900


  Series B 8% cumulative, convertible,
    mandatorily redeemable; 27,550 and 1,000
    shares outstanding; redemption value
    $2,755,000 and $1,000,000, net of related
    commissions                                                   2,591,150         1,000,000
- ----------------------------------------------------------------------------------------------

TOTAL PREFERRED STOCK                                             5,459,050         3,938,900
- ----------------------------------------------------------------------------------------------

STOCKHOLDERS' EQUITY (Notes 10 and 11)


   Common stock, $.001 par value; authorized
     50,000,000 shares; 10,560,605 and 9,295,558
     shares issued, respectively                                     10,561             9,296
   Additional paid-in capital                                    39,242,555        25,941,709
   Accumulated deficit                                          (24,115,382)       (15,086,803)
   Treasury Stock, at cost, 14,500 shares                          (145,887)               --
- ----------------------------------------------------------------------------------------------

TOTAL STOCKHOLDERS' EQUITY                                       14,991,847        10,864,202
- ----------------------------------------------------------------------------------------------

                                                                $32,128,245        $25,224,724
===============================================================================================
                                   SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.





                                                                             F-5







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                                 CONSOLIDATED STATEMENTS OF LOSS



- --------------------------------------------------------------------------------



YEARS ENDED DECEMBER 31,                                                       2001                   2000                  1999
- ------------------------------------------------------------------------------------------------------------------------------------

                                                                                                               
REVENUES AND OTHER INCOME
   Oil and gas revenues                                                    $ 6,656,758            $ 5,241,076           $ 3,017,252
   Pipeline transportation revenues                                            296,331                     --                    --
   Interest Income                                                              43,597                 45,905                19,094
- ------------------------------------------------------------------------------------------------------------------------------------

Total revenues and other income                                              6,996,686              5,286,981             3,036,346
- ------------------------------------------------------------------------------------------------------------------------------------

COSTS AND EXPENSES
   Production costs and taxes                                                2,951,746              2,614,414             2,564,932
   Depreciation, depletion and amortization
     (Notes 4 and 5)                                                         1,849,963                371,249               233,807
   General and administrative costs                                          2,957,871              2,602,311             1,961,348
   Interest expense                                                            850,965                415,376               417,497
   Public relations                                                            293,448                106,195                86,061
   Professional fees (Note 11)                                                 355,480                719,320               444,624
- ------------------------------------------------------------------------------------------------------------------------------------

Total costs and expenses                                                     9,259,473              6,828,865             5,708,269
- ------------------------------------------------------------------------------------------------------------------------------------

NET LOSS                                                                    (2,262,787)            (1,541,884)           (2,671,923)

Dividends on preferred stock                                                  (391,183)              (257,557)             (119,347)
- ------------------------------------------------------------------------------------------------------------------------------------

NET LOSS AVAILABLE TO COMMON STOCKHOLDERS                                  $(2,653,970)           $(1,799,441)          $(2,791,270)
- ------------------------------------------------------------------------------------------------------------------------------------

NET LOSS AVAILABLE TO COMMON STOCKHOLDERS PER SHARE
   Basic and diluted                                                       $     (0.26)           $     (0.19)          $     (0.33)
- ------------------------------------------------------------------------------------------------------------------------------------

Weighted average shares outstanding                                         10,235,253              9,253,622             8,557,395
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                        SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.







                                                                             F-6







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                                    YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999



- --------------------------------------------------------------------------------


                                                                                                        UNAMORTIZED
                                       COMMON STOCK         ADDITIONAL                        COMMON          STOCK
                               ---------------------------     PAID-IN        ACCUMULATED       STOCK        OPTION
                                   SHARES         AMOUNT       CAPITAL          DEFICIT      ISSUABLE        AWARDS
- ------------------------------ -------------- ------------- -------------- ------------- -------------- -------------
                                                                                        
BALANCE, January 1, 1999          7,644,212     $7,644     $16,796,038      $(10,496,092)   $ 700,000     $(162,500)

 Net loss                                --         --              --       (2,671,923)           --            --

 Common stock issued on
  conversion of debt                 83,100         83         508,917               --            --            --

 Common stock issued for
 exercised options                   20,000         20           9,980               --            --            --

 Stock option awards and
  amortization, net                      --         --              --               --            --       162,500

 Common stock issued in
  private placements, net
  of related expense                775,802        776       3,471,722               --      (700,000)           --

 Stock issued for services            9,768         10          41,990               --            --            --

 Dividends on convertible
  redeemable preferred stock             --         --              --         (119,347)           --            --

 Other                                   --         --         (95,888)              --            --            --
- -----------------------------     ---------     ------     -----------      -----------     ---------     ---------

BALANCE, December 31, 1999        8,532,882      8,533      20,732,759      (13,287,362)           --            --

 Net loss                                --         --              --       (1,541,884)           --            --

 Common stock issued on
  conversion of debt                 73,669         74         449,920               --            --            --

  Common stock issued for
   exercised options                 20,715         21         179,992               --            --            --

  Common stock issued on
   conversion of preferred stock      8,818          9          49,991               --            --            --

  Stock option awards for
   professional services                 --         --         242,000               --            --            --

  Common stock issued in
   private placements, net of
   related expense                  654,098        654       4,245,054               --            --            --

  Stock issued for services           5,376          5          41,993               --            --            --

  Dividends on convertible
   redeemable preferred stock            --         --              --         (257,557)           --            --
- -----------------------------     ---------     ------     -----------      -----------     ---------     ---------


Balance, December 31, 2000        9,295,558     $9,296     $25,941,709      $(15,086,803)   $      --     $      --





         TREASURY STOCK
 ----------------------------
     SHARES         AMOUNT        TOTAL
 -------------- ------------- --------------
          --     $    --     $  6,845,090

                               (2,671,923)


          --          --          509,000


          --          --           10,000


          --          --          162,500
                             ------------


          --          --        2,772,498

          --                       42,000


          --          --         (119,347)

          --          --          (95,888)
  ----------     -------     ------------

          --          --        7,453,930

          --          --       (1,541,884)


          --          --          449,994


          --          --          180,013


          --          --           50,000


          --          --          242,000



          --          --        4,245,708

          --          --           41,998


          --          --         (257,557)
  ----------     -------     ------------


  $       --     $    --     $ 10,864,202


                                                                             F-7







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                                    YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999



- --------------------------------------------------------------------------------







                                                                                                         UNAMORITIZED
                                      COMMON STOCK          ADDITIONAL                          COMMON          STOCK
                                  --------------------      PAID-IN          ACCUMULATED         STOCK         OPTION
                                   SHARES       AMOUNT       CAPITAL           DEFICIT        ISSUABLE         AWARDS
=====================================================================================================================

                                                                                           
BALANCE,
 December 31, 2000,
  brought forward                 9,295,558     $9,296     $25,941,709      $(15,086,803)        $ --        $   --

 Net loss                                --         --              --       (2,262,787)           --            --

 Common stock issued
  with 5% stock
  dividend
  (Note 10)                         498,016        498       6,374,111       (6,374,609)           --            --

 Common stock issued
 on conversion of debt               93,069         93         523,157               --            --            --

 Common stock issued
  for exercised options             274,932        275       2,340,725               --            --            --

 Common stock issued
  on conversion of
   preferred stock                   12,347         13          70,988               --                          --

 Stock option awards
  for services                       10,000         10          69,990               --            --            --

 Common stock issued
  in private placements,
  of related expense                374,733        374       3,899,624               --            --            --

 Common stock issued
  as a charitable
  donation                            1,950          2          22,251               --            --            --

 Treasury stock
  purchased                              --         --              --               --            --            --

 Dividends on
  convertible
  redeemable
  preferred stock                        --         --              --         (391,183)           --            --
=====================================================================================================================

BALANCE,
  December 31, 2001               10,560,605    $10,561    $39,242,555      $(24,115,382)        $ --        $   --
=====================================================================================================================
                                                        SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.





     TREASURY STOCK
    ------------------
    SHARES      AMOUNT        TOTAL
=======================================





       --     $    --     $ 10,864,202

       --          --       (2,262,787)




       --          --               --


       --          --          523,250


       --          --        2,341,000



       --          --           71,001


       --          --           70,000



       --          --        3,899,998



       --          --           22,253


   14,500     (145,887)       (145,887)




       --          --         (391,183)
- ---------     -------     ------------


   14,500     $(145,887)  $ 14,991,847
=======================================




                                                                             F-8







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                           CONSOLIDATED STATEMENTS OF CASH FLOWS


- --------------------------------------------------------------------------------



YEARS ENDED DECEMBER 31,                                              2001             2000            1999
- -----------------------------------------------------------------------------------------------------------------

                                                                                           
OPERATING ACTIVITIES
   Net loss                                                       $(2,262,787)     $(1,541,884)     $(2,671,923)
   Adjustments to reconcile net loss to net cash
     used in operating activities:
       Depreciation, depletion and amortization                     1,849,963          371,249          233,807
       Compensation and services paid in stock options, stock
         warrants, and common stock                                    92,253          284,000          204,500
       Gain on sale of equipment                                     (132,943)              --               --
       Changes in assets and liabilities:
         Accounts receivable                                            3,814         (301,421)        (386,933)
         Inventory                                                     91,981            8,408         (159,455)
         Accounts payable - trade                                     191,702          364,553          300,342
         Accrued interest payable                                      (2,519)         135,435               --
         Accrued liabilities                                          (52,640)        (140,955)        (107,341)
- -----------------------------------------------------------------------------------------------------------------

Net cash used in operating activities                                (221,176)        (820,615)      (2,587,003)
- -----------------------------------------------------------------------------------------------------------------

INVESTING ACTIVITIES
   Additions to other property and equipment                         (285,722)      (1,276,783)        (256,045)
   Net additions to oil and gas properties                         (4,821,883)      (1,456,996)        (788,029)
   Additions to pipeline facilities                                (4,213,095)      (6,834,196)        (193,633)
   Decrease (increase) in restricted cash                            (120,872)         625,000         (625,000)
   Other                                                               32,888            6,112          (29,587)
- -----------------------------------------------------------------------------------------------------------------

Net cash used in investing activities                              (9,408,684)      (8,936,863)      (1,892,294)
=================================================================================================================





                                                                             F-9









YEARS ENDED DECEMBER 31,                                              2001             2000            1999
- -----------------------------------------------------------------------------------------------------------------
                                                                                           

FINANCING ACTIVITIES
   Proceeds from exercise of options                                2,341,000          180,013           10,000
   Proceeds from borrowings                                        10,442,068        6,493,563        2,119,023
   Repayments of borrowings                                        (8,833,325)      (1,720,856)      (2,383,605)
   Net proceeds from issuance of common stock                       3,900,000        4,245,700        2,771,722
   Proceeds from private placements of convertible
     redeemable preferred stock, net                                1,591,150        2,000,000        1,188,900
   Collection of due from stockholder                                      --               --          400,000
   Dividends on convertible redeemable preferred stock               (357,503)        (257,557)        (119,347)
   Purchase of treasury stock                                        (145,887)              --               --
   Payment of loan fees                                              (518,167)              --               --
- -----------------------------------------------------------------------------------------------------------------

Net cash provided by financing activities                           8,419,336       10,940,863        3,986,693
- -----------------------------------------------------------------------------------------------------------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                            (1,210,524)       1,183,385         (492,604)

CASH AND CASH EQUIVALENTS, beginning of year                        1,603,975          420,590          913,194
- -----------------------------------------------------------------------------------------------------------------

CASH AND CASH EQUIVALENTS, end of year                            $   393,451      $ 1,603,975      $   420,590
- -----------------------------------------------------------------------------------------------------------------

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND
   FINANCING ACTIVITIES:

     During 2001, the Company issued a 5%                                                    $                $
       stock dividend of 498,016 shares                           $ 6,374,609               --               --

     During 2001 and 2000, the Company converted                                                              $
       preferred stock to common stock                            $    71,000      $    50,000               --
     During 2001, 2000 and 1999, respectively,
       the Company issued common stock on
       conversion of debt                                         $   523,250      $   450,000      $   509,000
     During 2001, 2000 and 1999, respectively, the
       Company issued common stock and stock options
       for services received and charitable contributions
       made                                                       $    92,253      $   284,000      $    42,000

     During 2001, the Company sold equipment                                                 $                $
       for equity investments                                     $   150,000               --               --
=================================================================================================================
                                                     SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.







                                                                            F-10







                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

- --------------------------------------------------------------------------------


1.   SUMMARY OF               ORGANIZATION
     SIGNIFICANT ACCOUNTING   Tengasco,  Inc. (the  "Company"),  a publicly held
     POLICIES                 corporation,  was organized  under the laws of the
                              State of Utah on April 18,  1916,  as Gold Deposit
                              Mining   and   Milling   Company.    The   Company
                              subsequently changed its name to Onasco Companies,
                              Inc.

                              Effective  May  2,  1995,   Industrial   Resources
                              Corporation,   a  Kentucky   corporation  ("IRC"),
                              acquired voting control of the Company in exchange
                              for  approximately  60%  of  the  assets  of  IRC.
                              Accordingly,  the assets acquired,  which included
                              certain oil and gas leases, equipment,  marketable
                              securities  and  vehicles,  were recorded at IRC's
                              historical  cost. The transaction was accomplished
                              through the Company's issuance of 4,000,000 shares
                              of its common stock and a $450,000,  8% promissory
                              note  payable  to IRC.  The  promissory  note  was
                              converted  into 83,799  shares of  Tengasco,  Inc.
                              common stock in December 1995.

                              The Company changed its domicile from the State of
                              Utah to the State of  Tennessee on May 5, 1995 and
                              its name was changed from "Onasco Companies, Inc."
                              to "Tengasco, Inc."

                              The Company's  principal  business consists of oil
                              and  gas   exploration,   production  and  related
                              property  management in the Appalachian  region of
                              eastern Tennessee and in the state of Kansas.  The
                              Company's  corporate  offices  are  in  Knoxville,
                              Tennessee.  The Company operates as one reportable
                              business  segment,  based  on  the  similarity  of
                              activities.

                              During 1996, the Company formed Tengasco  Pipeline
                              Corporation ("TPC"), a wholly-owned subsidiary, to
                              manage the construction and operation of a 65-mile
                              gas  pipeline as well as other  pipelines  planned
                              for   the   future.   During   2001,   TPC   began
                              transmission  of natural gas through its  pipeline
                              to customers of Tengasco.

                              BASIS OF PRESENTATION

                              The consolidated  financial statements include the
                              accounts  of  the   Company,   Tengasco   Pipeline
                              Corporation  and Tennessee Land and Mineral,  Inc.
                              All   significant    intercompany   balances   and
                              transactions have been eliminated.



                                                                            F-11



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              USE OF ESTIMATES

                              The accompanying financial statements are prepared
                              in conformity with accounting principles generally
                              accepted  in the United  States of  America  which
                              require   management   to   make   estimates   and
                              assumptions  that affect the  reported  amounts of
                              assets   and   liabilities   and   disclosure   of
                              contingent  assets and  liabilities at the date of
                              the financial  statements and the reported amounts
                              of  revenues  and  expenses  during the  reporting
                              period. The actual results could differ from those
                              estimates.

                              REVENUE RECOGNITION

                              The  Company  recognizes  revenues  at the time of
                              exchange of goods and services.

                              CASH AND CASH EQUIVALENTS

                              The  Company  considers  all  investments  with  a
                              maturity of three months or less when purchased to
                              be cash equivalents.

                              RESTRICTED CASH

                              At  December  31,  2001  the  Company  had cash in
                              escrow related to an ongoing  pricing dispute with
                              King   Pipeline   Corporation.   The   Company  is
                              disputing  certain amounts billed by King Pipeline
                              Corporation to the Company for construction of the
                              pipeline.  This  cash will be  restricted  until a
                              judgment has been reached in this case.

                              INVESTMENT SECURITIES

                              Investment   securities  available  for  sale  are
                              reported at fair value,  with unrealized gains and
                              losses,  when  material,  reported  as a  separate
                              component  of  stockholders'  equity,  net  of the
                              related tax effect.

                              INVENTORY

                              Inventory consists primarily of crude oil in tanks
                              and is carried at market value.






                                                                            F-12



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              OIL AND GAS PROPERTIES

                              The  Company  follows  the  full  cost  method  of
                              accounting  for oil and gas property  acquisition,
                              exploration and development activities. Under this
                              method,  all  productive and  nonproductive  costs
                              incurred in connection  with the  acquisition  of,
                              exploration  for  and  development  of oil and gas
                              reserves  for each cost  center  are  capitalized.
                              Capitalized  costs  include  lease   acquisitions,
                              geological and geophysical work, delay rentals and
                              the costs of drilling,  completing  and  equipping
                              oil and gas wells.  Gains or losses are recognized
                              only upon  sales or  dispositions  of  significant
                              amounts of oil and gas  reserves  representing  an
                              entire cost center.  Proceeds from all other sales
                              or  dispositions  are  treated  as  reductions  to
                              capitalized costs.

                              The  capitalized  costs of oil and gas properties,
                              plus estimated future  development  costs relating
                              to proved reserves and estimated costs of plugging
                              and abandonment,  net of estimated  salvage value,
                              are  amortized  on the  unit-of-production  method
                              based  on  total  proved  reserves.  The  costs of
                              unproved properties are excluded from amortization
                              until the properties are evaluated,  subject to an
                              annual   assessment  of  whether   impairment  has
                              occurred.  The Company's  proved gas reserves were
                              estimated  by  Columbia  Engineering,  independent
                              petroleum  engineers,  for the Kansas  properties,
                              and  by  Coburn  Petroleum   Engineering  for  the
                              Tennessee  properties in 1999. These reserves were
                              estimated  by  Ryder  Scott   Company,   Petroleum
                              Consultants in 2000 and 2001.

                              The  capitalized   oil  and  gas  property,   less
                              accumulated     depreciation,     depletion    and
                              amortization and related deferred income taxes, if
                              any,  are  generally  limited  to an  amount  (the
                              ceiling  limitation)  equal to the sum of: (a) the
                              present  value of  estimated  future net  revenues
                              computed by applying  current  prices in effect as
                              of the balance sheet date (with  consideration  of
                              price  changes  only  to the  extent  provided  by
                              contractual   arrangements)  to  estimated  future
                              production  of proved oil and gas  reserves,  less
                              estimated  future  expenditures  (based on current
                              costs) to be incurred in developing  and producing
                              the  reserves  using a discount  factor of 10% and
                              assuming   continuation   of   existing   economic
                              conditions;  and (b) the  cost of  investments  in
                              unevaluated  properties  excluded  from the  costs
                              being amortized. No ceiling writedown was recorded
                              in 2001, 2000 or 1999.






                                                                            F-13



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              PIPELINE FACILITIES

                              Pipeline facilities under construction  consist of
                              direct   and    indirect    construction    costs,
                              capitalized  interest  and  capitalized  overhead.
                              Phase I of the pipeline was completed during 1999.
                              Phase II of the pipeline was completed on March 8,
                              2001. Both phases of the pipeline were placed into
                              service upon  completion of Phase II. The pipeline
                              is being  depreciated  over its  estimated  useful
                              life of 30  years,  beginning  at the  time it was
                              placed in service.  Accordingly,  no  depreciation
                              expense  has  been  recorded  for  2000  and  1999
                              relating  to  pipeline  facilities.  During  2001,
                              depreciation  expense  of  $220,371  was  recorded
                              relating to the pipeline.

                              OTHER PROPERTY AND EQUIPMENT

                              Other  property and equipment are carried at cost.
                              The Company  provides  for  depreciation  of other
                              property  and  equipment  using the  straight-line
                              method  over  the  estimated  useful  lives of the
                              assets which range from five to ten years.

                              IMPAIRMENT  OF  LONG-LIVED  ASSETS AND  LONG-LIVED
                              ASSETS TO BE DISPOSED OF

                              Management  believes that carrying  amounts of all
                              of the Company's  long-lived  assets will be fully
                              recovered over the course of the Company's  normal
                              future operations.  Accordingly,  the accompanying
                              financial   statements   reflect   no  charges  or
                              allowances for impairment.

                              DERIVATIVES


                              The Company  uses collar  contracts  to  partially
                              mitigate the effects of  fluctuations in the price
                              of crude oil and natural gas. These  contracts are
                              marked to market with current recognition of gains
                              and losses on such  positions  to be  included  in
                              Other Income since the Company's positions are not
                              considered   hedges   for   financial    reporting
                              purposes.  The  Company's  accounting  for  collar
                              contracts   may  have  the  effect  of  increasing
                              earnings  volatility  in  any  particular  period.
                              Derivative activities entered into on December 28,
                              2001 were not material to the Company's  financial
                              position  or results of  operations  as of and for
                              the year ended December 3,1 2001. The Company does
                              not  hold  or  issue  derivative  instruments  for
                              speculative purposes.






                                                                            F-14



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              INCOME TAXES

                              The Company  accounts  for income  taxes using the
                              "liability  method."  Accordingly,   deferred  tax
                              liabilities and assets are determined based on the
                              temporary   differences   between  the   financial
                              reporting and tax bases of assets and liabilities,
                              using  enacted tax rates in effect for the year in
                              which the  differences  are  expected  to reverse.
                              Deferred  tax  assets  arise  primarily  from  net
                              operating loss carryforwards. Management evaluates
                              the  likelihood of  realization  of such assets at
                              year end  reserving any such amounts not likely to
                              be recovered in future periods.

                              CONCENTRATION OF CREDIT RISK

                              Financial  instruments which  potentially  subject
                              the  Company  to  concentrations  of  credit  risk
                              consist   principally   of   cash   and   accounts
                              receivable.  At  times,  such  cash in banks is in
                              excess of the FDIC  insurance  limit.  At December
                              31,  2001,  the  Company  had  deposits  with  two
                              financial  institutions  in amounts which exceeded
                              the  federally   insured  limit  by  approximately
                              $275,000 and $100,000.

                              The Company's primary business  activities include
                              oil and gas  sales  to  several  customers  in the
                              states of Tennessee and Kansas.  The related trade
                              receivables subject the Company to a concentration
                              of credit risk within the oil and gas industry.

                              The Company has entered  into a contract to supply
                              a chemical  manufacturer with natural gas from the
                              Swan Creek field and through  the  pipeline.  This
                              customer will be the Company's primary customer of
                              natural gas sales. Additionally, the Company sells
                              a  majority  of its  crude  oil  primarily  to two
                              customers,  one  each  in  Tennessee  and  Kansas.
                              Although  management believes that customers could
                              be replaced in the ordinary course of business, if
                              the present customers were to discontinue business
                              with  the  Company,  it could  have a  significant
                              adverse effect on the Company's  projected results
                              of operations.




                                                                            F-15



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              LOSS PER COMMON SHARE

                              Basic loss per share is computed by dividing  loss
                              available to common  shareholders  by the weighted
                              average number of shares  outstanding  during each
                              year.  Shares  issued during the year are weighted
                              for  the  portion  of  the  year  that  they  were
                              outstanding.   Diluted   loss  per  share  is  not
                              calculated  since it is  anti-dilutive.  Basic and
                              diluted  loss per share are based upon  10,235,253
                              shares  for the  year  ended  December  31,  2001,
                              9,253,622  shares for the year ended  December 31,
                              2000  and  8,557,395  shares  for the  year  ended
                              December 31, 1999.  There were 943,005,  1,000,763
                              and  732,967  potential  weighted  average  common
                              shares  outstanding  during  2001,  2000  and 1999
                              related  to common  stock  options  and  warrants.
                              These shares were not included in the  computation
                              of the diluted loss per share  amount  because the
                              Company was in a net loss position and,  thus, any
                              potential  common shares were  anti-dilutive.  All
                              share and per share  amounts have been adjusted to
                              reflect the 5% stock dividend. See Note 10.

                              FAIR VALUES OF FINANCIAL INSTRUMENTS

                              Fair   values   of  cash  and  cash   equivalents,
                              investments and short-term debt  approximate  cost
                              due to the short period of time to maturity.  Fair
                              values  of  long-term  debt are  based  on  quoted
                              market  prices or  pricing  models  using  current
                              market rates, which approximate carrying values.

                              NEW ACCOUNTING PRONOUNCEMENTS

                              The  Company   adopted   Statement   of  Financial
                              Accounting  Standards (SFAS) No. 133,  "Accounting
                              for    Derivative    Instruments    and    Hedging
                              Activities,"  effective  January 1, 2001. SFAS No.
                              133 (as amended by SFAS 137 and SFAS 138) requires
                              a company  to  recognize  all  derivatives  on the
                              balance sheet at fair value.  Derivatives that are
                              not hedges must be adjusted to fair value  through
                              income.  If the  derivative is a fair value hedge,
                              changes in the fair  value of the  hedged  assets,
                              liabilities  or firm  commitments  are  recognized
                              through earnings. If the derivative is a cash flow
                              hedge the effective portion of changes in the fair
                              value of the  derivative  are  recognized in other
                              comprehensive  income  until  the  hedged  item is
                              recognized in earnings. The ineffective portion of
                              a derivative's change in fair value is immediately
                              recognized  in earnings.  The adoption of SFAS No.
                              133, as amended, did not have a material impact on
                              the Company's consolidated financial statements.



                                                                            F-16



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              In July 2001, the Financial  Accounting  Standards
                              Board issued  Statement  of  Financial  Accounting
                              Standard (SFAS) No. 141,  "Business  Combinations"
                              and SFAS No.142,  "Goodwill  and Other  Intangible
                              Assets".   SFAS  No.  141  addresses  the  initial
                              recognition  and measurement of goodwill and other
                              intangible   assets   acquired   in   a   business
                              combination and SFAS No. 142 addresses the initial
                              recognition and  measurement of intangible  assets
                              acquired outside of a business combination whether
                              acquired  individually  or with a group  of  other
                              assets.   These   standards   require  all  future
                              business  combinations  to be accounted  for using
                              the purchase  method of accounting.  Goodwill will
                              no longer be amortized but instead will be subject
                              to impairment tests at least annually. The Company
                              would have been  required to adopt SFAS No. 141 on
                              July  1,  2001,   and  to  adopt  SFAS  142  on  a
                              prospective  basis  as of  January  1,  2002.  The
                              Company  has not  effected a business  combination
                              and  carries no  goodwill  on its  balance  sheet;
                              accordingly,  the  adoption of these  standards is
                              not  expected  to have an effect on the  Company's
                              financial position or results of operations.

                              In June 2001, the Financial  Accounting  Standards
                              Board  approved  the  issuance  of SFAS  No.  143,
                              "Accounting  for  Asset  Retirement  Obligations."
                              SFAS 143 establishes  accounting standards for the
                              recognition and  measurement of legal  obligations
                              associated   with  the   retirement   of  tangible
                              long-lived  assets and requires  recognition  of a
                              liability  for an asset  retirement  obligation in
                              the period in which it is incurred. The provisions
                              of this  statement  are  effective  for  financial
                              statements issued for fiscal years beginning after
                              June 15, 2002.  The adoption of this  statement is
                              not  expected  to have a  material  impact  on the
                              Company's   financial   position   or  results  of
                              operations.

                              SFAS No. 144,  Accounting  for the  Impairment  or
                              Disposal   of   Long-Lived    Assets,    addresses
                              accounting  and  reporting  for the  impairment or
                              disposal  of  long-lived  assets.   SFAS  No.  144
                              supersedes  SFAS  No.  121,   Accounting  for  the
                              Impairment of Long-Lived Assets and for Long-Lived
                              Assets to be Disposed Of. SFAS No. 144 establishes
                              a single accounting model for long-lived assets to
                              be disposed of by sale and expands on the guidance
                              provided by SFAS No. 121 with respect to cash flow
                              estimations.  SFAS No. 144 becomes  effective  for
                              the  Company's  fiscal year  beginning  January 1,
                              2002.  There will be no current impact of adoption
                              on  its   financial   position   or   results   of
                              operations.




                                                                            F-17



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              RECLASSIFICATIONS

                              Certain prior year amounts have been  reclassified
                              to conform with current year presentation.


2.   GOING CONCERN            The accompanying consolidated financial statements
     UNCERTAINTY              have been prepared in conformity  with  accounting
                              principles generally accepted in the United States
                              of America, which contemplate  continuation of the
                              Company   as  a  going   concern   which   assumes
                              realization  of  assets  and the  satisfaction  of
                              liabilities in the normal course of business.  The
                              Company continues to be in the early stages of its
                              oil  and  gas  related  operating  history  as  it
                              endeavors  to expand its  operations  through  the
                              continuation  of  its  drilling   program  in  the
                              Tennessee  Swan  Creek  Field.  Accordingly,   the
                              Company has  incurred  continuous  losses  through
                              these  operating  stages  and  has an  accumulated
                              deficit  of  $24,115,382  and  a  working  capital
                              deficit of  $6,326,204 as of December 31, 2001. On
                              April 5, 2002,  the  Company  was  informed by its
                              primary lender that  $6,000,000 of its outstanding
                              credit  facility  was due and  payable  within  30
                              days, as provided for in the Credit Agreement (see
                              Note 7).  These  circumstances  raise  substantial
                              doubt about the Company's ability to continue as a
                              going concern.

                              The Company has  disputed its  obligation  to make
                              this  payment  and is  attempting  to resolve  the
                              dispute  or  to  obtain  alternative   refinancing
                              arrangements  to repay  this  current  obligation.
                              There can be no assurance that the Company will be
                              successful  in its plans to obtain  the  financing
                              necessary to satisfy their current obligations.


3.     RELATED PARTY          During 2001,  the Company repaid all principal and
       TRANSACTIONS           interest  due  to  related   parties,   using  the
                              proceeds  from the line of  credit  with Bank One.
                              Interest  incurred to related parties was $546,026
                              for the year ended December 31, 2001.


                              During  2001,   the  Company   converted  debt  of
                              $200,000  payable to a director into 42,017 shares
                              of common stock.

                              No  consulting   fees  or  commissions  on  equity
                              transactions were paid to related parties in 2001.


                                                                            F-18



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              During 2000,  the Company  acquired debt financing
                              in the amount of  $3,850,000  from two  members of
                              the board of  directors,  one  affiliate,  and two
                              shareholders in order to complete  construction of
                              its  pipeline  from Swan Creek to  Kingsport  (see
                              Note  5).  The  directors   will  also  receive  a
                              throughput fee once  production  begins,  and will
                              continue  to  receive  such fees until the debt is
                              repaid.  The  throughput fee is 10 cents per MMBtu
                              delivered  through the pipeline in  proportion  to
                              the  director's  proportion  of  total  debt.  The
                              volume  delivered shall be calculated on a monthly
                              basis.  The throughput fee was $82,373 in 2001. No
                              throughput  fees were  incurred in 2000 or 1999 as
                              the pipeline was not yet operational.

                              During 2000, the Company  incurred debt to a major
                              officer/stockholder  in the amount of  $995,000 in
                              order  to  purchase  a  drilling   rig  from  that
                              officer/stockholder (see Note 7).

                              During  2000,   the  Company  paid   approximately
                              $270,000 in  consulting  fees and  commissions  on
                              equity  transactions  to a member  of the Board of
                              Directors.

                              Interest   expense  incurred  to  related  parties
                              during 2000 was $135,435.

                              In December  1999,  the Company sold for aggregate
                              consideration  of $625,000 a 25% working  interest
                              in two wells and a 50% working interest in a third
                              well,  located  in  the  Swan  Creek  Field,  to a
                              related party company  affiliated with a member of
                              the Board of Directors.

                              During  1999,  the Company  converted  $250,000 of
                              debt  together  with  accrued   interest   thereon
                              payable  to a  major  officer/stockholder  of  the
                              Company  into 54,000  shares of common  stock.  In
                              addition,   the  Company  converted   $163,800  of
                              non-interest  bearing  accounts  payable  to  this
                              officer/stockholder  into 16,800  shares of common
                              stock.

                              During 1999, the Company converted $22,000 of debt
                              payable  to a  company  owned by a  member  of the
                              Board of Directors  for  consulting  services into
                              5,625 shares of common stock.

                              During  1999,   the  Company  paid   approximately
                              $218,000 in  consulting  fees and  commissions  on
                              equity  transactions  to a member  of the Board of
                              Directors.




                                                                            F-19



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

4.     OIL AND GAS            The   following   table  sets  forth   information
       PROPERTIES             concerning the Company's oil and gas properties:






                              DECEMBER 31,                                         2001               2000
                              -----------------------------------------------------------------------------

                                                                                         
                              Oil and gas properties, at cost               $15,117,224        $10,295,341
                              Accumulation depreciation,
                                  depletion and amortization                 (1,847,294)          (505,294)
                              -----------------------------------------------------------------------------

                              Oil and gas properties, net                   $13,269,930       $  9,790,047
                              -----------------------------------------------------------------------------


                              During the years ended December 31, 2001, 2000 and
                              1999, the Company  recorded  depletion  expense of
                              $1,342,000,  $197,000 and  $92,000,  respectively.
                              Significant  increases in  depletion  expense were
                              incurred  during 2001 as a result of decreased oil
                              and gas estimated proved reserves.


5.     PIPELINE FACILITIES    In  1996,  the  Company  began  construction  of a
                              65-mile gas pipeline (1) connecting the Swan Creek
                              development  project  to a gas  purchaser  and (2)
                              enabling  the Company to develop gas  distribution
                              business  opportunities in the future.  Phase I, a
                              30-mile portion of the pipeline,  was completed in
                              1998.  Phase II of the pipeline  was  completed in
                              March  2001.  The  estimated  useful  life  of the
                              pipeline  for  depreciation  purposes is 30 years.
                              The  Company  used  the  half-life  convention  to
                              calculate depreciation on the pipeline in 2001 and
                              recorded  approximately  $220,000 in  depreciation
                              expense.

                              In  January  1997,  the  Company  entered  into an
                              agreement  with  the  Tennessee  Valley  Authority
                              ("TVA") whereby the TVA allows the Company to bury
                              the pipeline  within the TVA's  transmission  line
                              rights-of-way.  In  return  for  this  right,  the
                              Company paid $35,000 and agreed to annual payments
                              of  approximately   $6,200  for  20  years.   This
                              agreement  expires  in  2017  at  which  time  the
                              parties  may renew the  agreement  for  another 20
                              year   term   in    consideration    of    similar
                              inflation-adjusted payment terms.






                                                                            F-20



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

6.     OTHER PROPERTY         Other  property  and  equipment  consisted  of the
       AND EQUIPMENT          following:






                              DECEMBER 31,                                           2001             2000
                              -----------------------------------------------------------------------------

                                                                                          
                              Machinery and equipment                          $1,737,189       $1,689,128
                              Vehicles                                            610,510          522,854
                              Other                                                63,739           63,734
                              -----------------------------------------------------------------------------

                                                                                2,411,438        2,275,716

                              Less accumulated depreciation                      (731,334)        (598,284)
                              -----------------------------------------------------------------------------

                              Other property and equipment - net               $1,680,104       $1,677,432
                              -----------------------------------------------------------------------------





                                                                            F-21



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

7.   LONG TERM DEBT           Long-term debt to unrelated  entities consisted of
                              the following:



                              DECEMBER 31,                                         2001               2000
                              -----------------------------------------------------------------------------
                                                                                                

                              Revolving  line of  credit  with a bank.
                              Initial  borrowing base of  $10,000,000.
                              The   loan   agreement    provides   for
                              increases or decreases to the  borrowing
                              base as  changes  in proved  oil and gas
                              reserves  or  other  production   levels
                              arise.  The line of  credit  expires  in
                              November 2004,  unless  extended by both
                              parities.  Borrowings  bear  interest at
                              the bank's  prime rate plus 0.25% (5% at
                              December 31,  2001).  Collateralized  by
                              the  oil  and  gas  properties  and  the
                              related  operations  and  revenues.  The
                              Company is subject to certain  financial
                              (ratio)  covenants and  restrictions  on
                              indebtedness,     dividend     payments,
                              financial      guarantees,      business
                              combinations, reporting requirements and
                              other related items.  As of December 31,
                              2001,  the Company is not in  compliance
                              with all  covenants,  however,  the bank
                              has waived its rights to accelerate  the
                              debt  or  exercise  other  rights  as  a
                              result  of  these  covenant  violations.
                              Subsequent to year end, the bank reduced
                              the borrowing base to
                              $3,101,777.  See Note 2.                       $9,101,777 $               --

                              Note  payable to a bank,  with $95,000
                              principal    payments    due   monthly
                              commencing  on January 1, 2001 through
                              February   1,   2003.    Interest   is
                              payable monthly  commencing January 1,
                              2001  at  prime   plus  1%  (5.75%  at
                              December  31,  2001)  per  annum.  The
                              note   is   guaranteed   by  a   major
                              shareholder  and  is  collatalized  by
                              certain  assets  of the  Company.  The
                              note was repaid in 2001.                               --          2,469,989
                              -----------------------------------------------------------------------------

                              Balance carried forward                        $9,101,777         $2,469,989
                              -----------------------------------------------------------------------------




                                                                            F-22



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================



                              DECEMBER 31,                                         2001               2000
                              -----------------------------------------------------------------------------

                                                                                          
                              Balance brought forward                        $9,101,777         $2,469,989
                              -----------------------------------------------------------------------------

                              Note  payable  to an  institution,  with
                              $65,000 principal payments due quarterly
                              beginning  January  1,  2000;  remaining
                              balance due October 2003;  with interest
                              payable monthly at 8% per annum. Note is
                              convertible  into  common  stock  of the
                              Company  at a rate of $6.25 per share of
                              common stock.
                              Note is unsecured.                                720,000            975,000

                              Note payable to an  institution,  with
                              $1,773.28   principal   payments   due
                              monthly   beginning  January  7,  2002
                              through December 7, 2006.  Interest is
                              payable monthly  commencing on January
                              7,  2002 at 7.5%  per  annum.  Note is
                              guaranteed       by      a       major
                              shareholder/director       and      is
                              collateralized  by  certain  assets of
                              the Company.                                       87,500                 --

                              Thirteen    individual    vehicle    and
                              equipment notes bearing  interest at the
                              rate  of  3.9%  to   11.95%   per  annum
                              collateralized by vehicles and equipment
                              with monthly payments including interest
                              of approximately
                              $10,000 due 2001 to 2006.                         393,311            427,096
                              -----------------------------------------------------------------------------

                              Total long term debt due to  unrelated
                              entities                                       10,302,588          3,872,085

                              Less current maturities                        (6,399,831)        (1,608,486)
                              -----------------------------------------------------------------------------

                              Long  term   debt  due  to   unrelated
                              entities, less current maturities            $  3,902,757        $ 2,263,599
                              -----------------------------------------------------------------------------




                                                                            F-23



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              Long-term   debt  to   related   parties
                              consisted of the following:



                              DECEMBER 31,                                         2001               2000
                              -----------------------------------------------------------------------------
                                                                                          

                              Note payable to a related party;  entire
                              principal  balance  due  December  2001,
                              with  interest  payable  quarterly at 8%
                              per  annum.  Note  is  convertible  into
                              common stock of the Company at a rate of
                              $5.00 per share of common
                              stock.                                         $       --         $  500,000

                              Note  payable to a related  party  (Note
                              2);   entire   principal   balance   due
                              November  2005,  with  interest  payable
                              quarterly  at  8%  per  annum.  Note  is
                              convertible  into  common  stock  of the
                              Company at a rate of $7.10 per share
                              of common stock.  Note is unsecured.                   --            995,000

                              Note payable to related  parties (Note
                              2);  entire   principal   balance  due
                              August  2005,  with  interest  payable
                              quarterly  at 10.75% per  annum.  Note
                              is collateralized by the Pipeline.                     --          3,850,000
                              -----------------------------------------------------------------------------

                              Total long term debt due to related
                                parties                                              --          5,345,000
                              Less current maturities                                --           (500,000)
                              -----------------------------------------------------------------------------

                              Long term debt due to related parties,
                                less current maturities                      $       --        $ 4,845,000
                              -----------------------------------------------------------------------------


                              All  long-term  debt to related  parties
                              was repaid in November 2001.






                                                                            F-24



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              The  aggregate  maturities of long term debt as of
                              December 31, 2001, are as follows:



                                       Year                                                          Amount
                              -----------------------------------------------------------------------------

                                                                                          
                                       2002                                                     $6,399,831
                                       2003                                                        390,793
                                       2004                                                      3,426,107
                                       2005                                                         59,200
                                       2006                                                         26,657
                              -----------------------------------------------------------------------------

                                                                                               $10,302,588
                              -----------------------------------------------------------------------------



8.     COMMITMENTS            The Company is a party to lawsuits in the ordinary
       AND CONTINGENCIES      course of its business.  While the damages  sought
                              in some of these actions are material, the Company
                              does  not  believe  that it is  probable  that the
                              outcome  of  any  individual  action  will  have a
                              material adverse effect, or that it is likely that
                              adverse  outcomes  of  individually  insignificant
                              actions will be significant  enough,  in number or
                              magnitude,  to have a material  adverse  effect in
                              the aggregate.

                              In the ordinary course of business the Company has
                              entered into various  equipment  and office leases
                              which have terms  ranging  from one to five years.
                              Approximate  future  minimum lease  payments to be
                              made under noncancellable  operating leases are as
                              follows:



                                       Year                                                          Amount
                              -----------------------------------------------------------------------------

                                                                                            
                                       2002                                                       $  99,155
                                       2003                                                          60,158
                                       2004                                                          59,210
                                       2005                                                          56,970
                                       2006                                                             500
                              -----------------------------------------------------------------------------

                                                                                                   $275,993
                              -----------------------------------------------------------------------------


                              Office  rent  expense was  approximately  $91,228,
                              $86,120  and  $52,590  for each of the three years
                              ended December 31, 2001, respectively.






                                                                            F-25





                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

9.     CONVERTIBLE            In December 1998, the Company's Board of Directors
       REDEEMABLE             authorized  the  issuance  of  100,000  shares  of
       PREFERRED STOCK        Series A Convertible  Redeemable  Preferred  Stock
                              ("Series A Preferred  Stock").  In December  1999,
                              the Company's  Board of Directors  authorized  the
                              issuance of 100,000 shares of Series B Convertible
                              Redeemable  Preferred  Stock  ("Series B Preferred
                              Stock").

                              Shares of both Series A and B of  Preferred  Stock
                              are or will be immediately convertible into shares
                              of Common Stock. Each $100 liquidation  preference
                              share of preferred  stock is convertible at a rate
                              of  $7.00  for the  Series A per  share of  common
                              stock.  For the Series B, the  conversion  rate is
                              the average  market price of the Company's  common
                              stock for 30 days  before the sale of the Series B
                              preferred stock with a minimum conversion price of
                              $9.00 per share. The conversion rate is subject to
                              downward  adjustment  if the Company  subsequently
                              issues  shares of common  stock for  consideration
                              less than  $7.00 and $9.00 for the Series A and B,
                              respectively,  per share.  The  conversion  prices
                              will be adjusted prospectively for stock dividends
                              and splits.

                              In 2000, the Company issued 1,000 shares of Series
                              A Preferred Stock for $1,000,000, which netted the
                              Company approximately  $960,000 after commissions.
                              In the same year,  the Company issued 1,000 shares
                              of Series B  Preferred  Stock for  $1,000,000.  No
                              commissions  were paid on the  Series B  Preferred
                              Stock.  In April 2000, one holder  converted 5,000
                              shares of Series A  Preferred  Stock  into  Common
                              Stock.  No additional  consideration  was given to
                              the Company for this conversion.

                              In conjunction  with the issuances of the Series B
                              Preferred  Stock  described   above,  the  Company
                              granted the purchasers  detachable  stock warrants
                              which  enable  the  holders to obtain up to 11,111
                              shares  of  the  Company's   common  stock  at  an
                              exercise price of $9 per share.

                              In 2001, the Company issued 1,755 shares of Series
                              B Preferred Stock for $1,755,000, which netted the
                              Company     approximately     $1,591,000     after
                              commissions.  In June 2001,  one holder  converted
                              710 shares of Series A Preferred Stock into Common
                              Stock.  No additional  consideration  was given to
                              the Company for this conversion.




                                                                            F-26



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              The  holders  of both the  Series  A and  Series B
                              Preferred  Stock  are  entitled  to  a  cumulative
                              dividend of 8% per quarter.  However,  the payment
                              of the  dividends on the Series B Preferred  Stock
                              is  subordinate  to that of the Series A Preferred
                              Stock. In the event that the Company does not make
                              any  two of  six  consecutive  quarterly  dividend
                              payments,  the  holders of the Series A  Preferred
                              Stock may  appoint  those  directors  which  would
                              constitute  of majority of the Board of Directors.
                              In such a scenario,  the holders of the  Preferred
                              Shares  would be  entitled  to elect a majority of
                              the  Board of  Directors  until  all  accrued  and
                              unpaid dividends have been paid.

                              The  Company may redeem both of the Series A and B
                              Preferred  Shares  upon  payment of $100 per share
                              plus any  accrued and unpaid  dividends.  Further,
                              with  respect  to the  Series A  Preferred  Stock,
                              commencing   on   October  1,  2003  and  at  each
                              quarterly  date  thereafter  while  the  Series  A
                              Preferred  Stock is  outstanding,  the  Company is
                              required  to redeem  one-twentieth  of the maximum
                              number of Series A  Preferred  Stock  outstanding.
                              With respect to the Series B Preferred  Stock,  on
                              the fifth anniversary after issuance,  the Company
                              is  required  to redeem all  outstanding  Series B
                              Preferred Stock.


10.  STOCK DIVIDEND           On August 1,  2001,  the  Company  paid a 5% stock
                              dividend  distributable  on  October  1,  2001  to
                              shareholders  of  record of the  Company's  common
                              stock on September 4, 2001. Based on the number of
                              common shares  outstanding on the record date, the
                              Company issued 498,016 new shares.  All references
                              in the  accompanying  financial  statements to the
                              number of common  shares and per share amounts are
                              based on the  increased  number of  shares  giving
                              retroactive effect to the stock dividend.


11.  STOCK OPTIONS            In  October  2000,  the  Company  approved a Stock
                              Incentive  Plan.  The  Plan  is  effective  for  a
                              ten-year period commencing on October 25, 2000 and
                              ending on October 24, 2010.  The aggregate  number
                              of shares of Common Stock as to which  options and
                              Stock  Appreciation   Rights  may  be  granted  to
                              Employees   under  the  plan   shall  not   exceed
                              1,000,000.  Options  are  not  transferable,   are
                              exercisable   for   3   months   after   voluntary
                              resignation   from  the  Company   and   terminate
                              immediately upon involuntary  termination from the
                              Company.  The purchase  price of shares subject to
                              this  Nonqualified  Stock  Option  Plan  shall  be
                              determined  at the time the options  are  granted,
                              but are not  permitted  to be less than 85% of the
                              Fair  Market  Value of such  shares on the date of
                              grant.  Furthermore,  an  employee in the plan may
                              not,   immediately   prior


                                                                            F-27



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              to  the  grant  of  an   Incentive   Stock  Option
                              hereunder,  own stock in the Company  representing
                              more than ten percent of the total voting power of
                              all classes of stock of the Company unless the per
                              share option price  specified by the Board for the
                              Incentive  Stock Options granted such and Employee
                              is at least 110% of the Fair  Market  Value of the
                              Company's  stock  on the  date of  grant  and such
                              option, by its terms, is not exercisable after the
                              expiration  of 5 years  from the date  such  stock
                              option is granted.

                              Stock  option  activity in 2001,  2000 and 1999 is
                              summarized below:



                                         2001                         2000                      1999
                               -------------------------     ------------------------  ------------------------
                                                 WEIGHTED                     WEIGHTED                   WEIGHTED
                                                  AVERAGE                      AVERAGE                    AVERAGE
                                                 EXERCISE                     EXERCISE                   EXERCISE
                                      SHARES        PRICE         SHARES         PRICE       SHARES         PRICE
- -------------------------------------------------------------------------------------------------------------------

                                                                                           
          OUTSTANDING,
            beginning
            of year                1,017,450         8.54           530,250      $6.91         393,750       5.80
          Granted                     78,750        12.39           855,451       8.69         498,750       6.90
          Exercised                 (256,772)        8.69           (21,751)      8.69         (21,000)      5.00
          Expired/canceled          (323,400)        7.85          (346,500)      6.91        (341,250)      5.66
                                   ----------                     ---------                   --------

          OUTSTANDING,
            end of year              516,028         9.23         1,017,450       8.54         530,250       6.91
- --------------------------------------------------------------------------------------------------------------------

          EXERCISABLE,
            end of year              474,889         9.21           930,258      $8.49         246,687       5.50
- --------------------------------------------------------------------------------------------------------------------


                              The  share  information  disclosed  above has been
                              adjusted to reflect the 5% stock dividend declared
                              during 2001. See Note 10.




                                                                            F-28



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              The following table summarizes  information  about
                              stock options outstanding at December 31, 2001:




                                                                         OPTIONS                         OPTIONS
                                                                       OUTSTANDING                     EXERCISABLE
                                                        ------------------------------------------   ----------------
                                                                                       WEIGHTED
                                                            WEIGHTED                    AVERAGE
                                                             AVERAGE                  REMAINING
                                                            EXERCISE                CONTRACTUAL
                                                               PRICE        SHARES  LIFE (YEARS)           SHARES
                                        ----------------------------------------------------------   ----------------

                                                                                            
                                                                8.69       437,278         1.83           403,804
                                                               14.44        21,000         2.08            21,000
                                                               11.05        47,250         2.25            47,250
                                                               12.70        10,500         2.67             2,835
                                                                      --------------                 ----------------

                                        Total                   9.23       516,028                        474,889
                                        =============================================================================


                              The weighted average fair value of options granted
                              during  2001,  2000 and 1999 is  $3.62,  $3.41 and
                              $2.88    respectively,    calculated   using   the
                              Black-Scholes Option-Pricing model.

                              The  amount of  compensation  expense  related  to
                              stock    options    included    in   general   and
                              administrative    costs   in   the    accompanying
                              consolidated  statements of loss was approximately
                              $162,500 for the year ended  December 31, 1999. No
                              compensation  expense related to stock options was
                              incurred  in  2001 or  2000.  The  Company  issued
                              70,715 options to non-employees  and non-directors
                              in 2000. The expense of $242,000 for these options
                              has been  included in  professional  fees  expense
                              because the options  were issued to  providers  of
                              such services.  The expense was calculated using a
                              fair  market  value  of the  options  based on the
                              Black-Scholes   option-pricing  model  assumptions
                              discussed below.

                              Statement of Financial  Accounting  Standards  No.
                              123,  ("SFAS 123"),  "Accounting  for  Stock-Based
                              Compensation"  was implemented in January 1996. As
                              permitted by SFAS 123,  the Company has  continued
                              to account for stock  compensation to employees by
                              applying the  provisions of Accounting  Principles
                              Board Opinion No. 25. If the accounting provisions
                              of SFAS  123 had been  adopted,  net loss and loss
                              per share would have been as follows:


                                                                            F-29





                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================



                                                                         2001                2000                1999
                      -----------------------------------------------------------------------------------------------

                                                                                                 
                      Net loss available to common
                      shareholders
                          As reported                             $(2,653,970)        $(1,799,441)        $(2,791,270)
                          Pro forma                                (2,911,298)         (4,052,452)         (3,529,395)
                      -----------------------------------------------------------------------------------------------

                      Basic and diluted loss per share
                          As reported                         $       (0.26)      $        (0.19)    $         (0.33)
                          Pro forma                                   (0.28)               (0.44)              (0.41)
                      -----------------------------------------------------------------------------------------------


                              For  employees,  the fair  value of stock  options
                              used to  compute  pro  forma net loss and loss per
                              share  disclosures is the estimated  present value
                              at   grant    date    using   the    Black-Scholes
                              option-pricing  model with the following  weighted
                              average  assumptions  for  2001,  2000  and  1999:
                              Expected  volatility  of 50% for 2001 and 2000 and
                              106% for 1999; a risk free  interest rate of 3.67%
                              in 2001,  5.86% in 2000 and 6.17% in 1999;  and an
                              expected  option life of 3 years for 2001 and 2000
                              and 1.1 year in 1999.


12.    INCOME TAXES           The Company had no taxable income during the years
                              ended December 31, 2001, 2000 or 1999.

                              A  reconciliation  of the statutory  U.S.  Federal
                              income tax and the income tax  provision  included
                              in the  accompanying  consolidated  statements  of
                              loss is as follows:



                              YEAR ENDED DECEMBER 31,                             2001               2000
                              -----------------------------------------------------------------------------

                                                                                          
                              Statutory rate                                        34%                34%
                              Tax benefit at statutory rate                  $(769,000)         $(452,500)
                              State income tax benefit                        (136,000)           (75,500)
                              Nondeductible travel and
                                entertainment                                       --             19,000
                              Other                                                 --              5,000
                              Increase in deferred tax asset
                                valuation allowance                            905,000            504,000
                              -----------------------------------------------------------------------------

                              Total income tax provision                     $      --          $      --
                              -----------------------------------------------------------------------------




                                                                            F-30



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              The  components of the net deferred tax assets are
                              as follows:



                              YEAR ENDED DECEMBER 31,                              2001               2000
                              ------------------------------------------------------------------------------

                                                                                          
                              Net operating loss carryforward               $ 5,877,000         $4,972,000
                              Capital loss carryforward                         263,000            263,000
                              ------------------------------------------------------------------------------

                                                                              6,140,000          5,235,000

                              Valuation allowance                            (6,140,000)        (5,235,000)
                              ------------------------------------------------------------------------------

                              Net deferred taxes                            $        --         $       --
                              ------------------------------------------------------------------------------


                              The  Company  recorded a  valuation  allowance  at
                              December  31, 2001 and 2000 equal to the excess of
                              deferred tax assets over deferred tax  liabilities
                              as  management  is unable to determine  that these
                              tax  benefits  are  more  likely  than  not  to be
                              realized.

                              As of  December  31,  2001,  the  Company  had net
                              operating  loss   carryforwards  of  approximately
                              $15,062,000,  which will expire  between  2010 and
                              2021, if not utilized.

                              Additionally,  at December 31,  2001,  the Company
                              had capital loss  carryforwards  of  approximately
                              $81,000 which will expire,  if not offset  against
                              capital gains, in 2002.


13.    SUPPLEMENTAL CASH      The Company paid approximately $853,500,  $544,000
       FLOW INFORMATION       and $479,000 for interest in 2001,  2000 and 1999,
                              respectively.      The     Company     capitalized
                              approximately $148,000 and $128,000 of this amount
                              in 2001 and 2000,  respectively.  The Company paid
                              no income taxes in 2001, 2000 and 1999.

                              In 1999,  the  Company  issued  54,000  shares  of
                              common  stock  to  convert  a note  payable  to an
                              officer  plus  accrued  interest  thereon  in  the
                              approximate amount of $270,000, which approximated
                              the fair value of the shares.

                              In 2001, 2000 and 1999, the Company issued 11,950,
                              5,376  and  9,768   shares  of  common   stock  as
                              consideration for approximately  $92,000,  $42,000
                              and   $42,000,   respectively,   of  services  and
                              charitable  contributions  which  approximated the
                              fair value of the common stock.






                                                                            F-31



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              In 1999,  the lender of the note  payable  with an
                              original  balance of  $1,500,000  sold  $75,000 of
                              this note to other  holders.  These  holders  then
                              converted  the notes into common stock at the rate
                              of $6.25 per share. In 2000, the lender  converted
                              approximately  $450,000  of the  outstanding  debt
                              into common stock under the same agreement.

14.    QUARTERLY DATA AND     The  following  table sets  forth,  for the fiscal
       SHARE INFORMATION      periods indicated, selected consolidated financial
       (UNAUDITED)            data and  information  regarding  the market price
                              per  share  of the  Company's  common  stock.  The
                              prices represent the reported high and low closing
                              sale prices.









                                                                                           FISCAL YEAR ENDED 2001
                              -----------------------------------------------------------------------------------
                                                      First           Second           Third           Fourth
                                                     Quarter          Quarter         Quarter          Quarter
                              -----------------------------------------------------------------------------------

                                                                                        
Revenues                                         $ 1,448,318      $ 1,863,068      $ 2,583,758      $ 1,101,542
Net loss                                            (368,768)        (336,034)        (378,597)      (1,179,388)
Net loss available to common shareholders           (447,546)        (423,523)        (491,055)      (1,291,846)
- -----------------------------------------------------------------------------------------------------------------
Loss per common share
   Basic and diluted                             $     (0.05)     $     (0.04)     $     (0.05)     $     (0.12)
- -----------------------------------------------------------------------------------------------------------------

                                                                                           FISCAL YEAR ENDED 2000
- -----------------------------------------------------------------------------------------------------------------
                                                      First           Second           Third           Fourth
                                                     Quarter          Quarter         Quarter          Quarter
- -----------------------------------------------------------------------------------------------------------------

Revenues                                         $ 1,179,912      $ 1,270,283      $ 1,666,583      $ 1,124,298
Net Income (loss)                                    (70,453)        (379,234)          84,909       (1,177,106)
Net Income (loss) available to common
shareholders                                        (110,231)        (451,394)          18,064       (1,255,880)
- -----------------------------------------------------------------------------------------------------------------
Earnings (loss) per common share
   Basic and diluted                             $     (0.01)     $     (0.05)              --      $     (0.13)
- -----------------------------------------------------------------------------------------------------------------


                              Third  quarter 2001 results  reflect the effect on
                              depletion expense that resulted from a decrease in
                              reserve estimates provided in a study performed by
                              Ryder Scott and issued August 10, 2001. The amount
                              recorded  during this quarter was $562,000  higher
                              than the  quarterly  estimates  made by management
                              during the first  three  quarters as a result of a
                              change in estimate  arising  from new  information
                              provided  in  the  Ryder  Scott  Report.   Amounts
                              disclosed  above  differ from those filed with the
                              SEC during  the third  quarter of 2001 as a result
                              of an error in  recording  this change in estimate
                              to depletion at the time of





                                                                            F-32



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              the  filing.   Management  intends  to  amend  the
                              September 30, 2001 SEC Form 10-Q filing.

15.    SUPPLEMENTAL OIL AND   Information  with respect to the Company's oil and
       GAS INFORMATION        gas  producing  activities  is  presented  in  the
                              following tables. Estimates of reserve quantities,
                              as well as future  production and discounted  cash
                              flows before  income  taxes,  were  determined  by
                              Ryder Scott Company,  L.P. as of December 31, 2001
                              and 2000 and by Coburn  Petroleum  Engineering and
                              Columbia   Engineering,    independent   petroleum
                              engineers, as of December 31, 1999.

                              OIL AND GAS RELATED COSTS

                              The   following   table  sets  forth   information
                              concerning  costs related to the Company's oil and
                              gas   property   acquisition,    exploration   and
                              development activities in the United States during
                              the years ended December 31, 2001, 2000 and 1999:



                                                              2001              2000            1999
                              ========================================================================
                                                                                   

                              Property acquisition

                                Proved                  $        --      $        --      $    13,921
                                Unproved                         --            5,702           17,265
                              Less - proceeds from
                                sales of properties        (750,000)      (1,176,411)        (625,000)
                              Development costs           5,571,883        2,430,702        1,110,288
                              ------------------------------------------------------------------------

                                                        $ 4,821,883      $ 1,259,993      $   516,474
                              ========================================================================


                              RESULTS OF  OPERATIONS  FROM OIL AND GAS PRODUCING
                              ACTIVITIES

                              The  following  table  sets  forth  the  Company's
                              results of  operations  from oil and gas producing
                              activities for the years ended:



                              December 31,                         2001             2000           1999
                              ------------------------------------------------------------------------------

                                                                                         
                              Revenues                        $ 6,656,758      $ 5,241,076      $ 3,017,252
                              Production costs and taxes       (2,951,746)      (2,614,414)      (2,564,932)
                              Depreciation, depletion and
                                  amortization                 (1,342,000)        (197,000)         (92,000)
                              ------------------------------------------------------------------------------

                              Income from oil and gas
                                  producing activities        $ 2,363,012      $ 2,429,662      $   360,320
                              ==============================================================================


                              In the  presentation  above, no deduction has been
                              made for indirect

                                                                            F-33



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              costs  such  as  corporate  overhead  or  interest
                              expense.  No income taxes are reflected  above due
                              to the Company's tax loss carryforwards.

                              OIL AND GAS RESERVES (UNAUDITED)

                              The  following  table sets forth the Company's net
                              proved oil and gas  reserves at December  31, 2001
                              and 2000 and the changes in net proved oil and gas
                              reserves for the years then ended. Proved reserves
                              represent  the  estimated  quantities of crude oil
                              and natural gas which  geological and  engineering
                              data demonstrate  with reasonable  certainty to be
                              recoverable   in  the  future   years  from  known
                              reservoirs  under existing  economic and operating
                              conditions.   The  reserve  information  indicated
                              below requires substantial judgment on the part of
                              the  reserve  engineers,  resulting  in  estimates
                              which are not  subject to  precise  determination.
                              Accordingly,  it is expected that the estimates of
                              reserves  will  change  as future  production  and
                              development information becomes available and that
                              revisions in these estimates could be significant.
                              Reserves  are  measured  in barrels  (bbls) in the
                              case of oil, and units of one thousand  cubic feet
                              (MCF) in the case of gas.






                                                                            F-34



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================



                                                                            OIL (BBLS)           GAS (MCF)
                              -----------------------------------------------------------------------------
                                                                                       
                              Proved reserves:

                              Balance, January 1, 1999                       1,624,622          46,176,025
                                Discoveries and extensions                   1,295,685          13,566,161
                                Revisions of previous estimates                444,893          15,268,361
                                Production                                    (137,997)           (215,260)
                              -----------------------------------------------------------------------------

                              Balance, December 31, 1999                     3,227,203          74,795,287
                                Discoveries and extensions                      56,103           1,059,147
                                Revisions of previous estimates             (1,309,366)        (27,998,986)
                                Production                                    (159,035)           (315,577)
                              -----------------------------------------------------------------------------

                              Balance, December 31, 2000                     1,814,905          47,539,871
                                Discoveries and extensions                      62,254           4,915,431
                                Revisions of previous estimates               (672,443)        (25,263,634)
                                Production                                    (148,041)         (1,311,466)
                              -----------------------------------------------------------------------------

                              Proved reserves at, December 31, 2001          1,056,675          25,880,202
                              -----------------------------------------------------------------------------

                              Proved developed producing
                                reserves at, December 31, 2001                 767,126           7,157,183
                              -----------------------------------------------------------------------------

                              Proved developed producing
                                reserves at, December 31, 2000               1,553,759           2,888,769
                              -----------------------------------------------------------------------------

                              Proved developed producing
                                reserves at, December 31, 1999               1,688,073           3,248,552
                              ==============================================================================


                              Of  the  Company's  total  proved  reserves  as of
                              December 31, 2001 and 2000 and 1999, approximately
                              36%, 21% and 13%, respectively, were classified as
                              proved  developed  producing,  26%,  34% and  35%,
                              respectively,  were classified as proved developed
                              non-producing and 37%, 45% and 52%,  respectively,
                              were classified as proved undeveloped.  All of the
                              Company's  reserves are located in the continental
                              United States.






                                                                            F-35



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH
                              FLOWS (UNAUDITED)

                              The standardized  measure of discounted future net
                              cash flows from the  Company's  proved oil and gas
                              reserves is presented in the following table:



                                                                             AMOUNTS IN THOUSANDS
                              December 31,                             2001            2000            1999
                              -----------------------------------------------------------------------------

                                                                                       
                              Future cash inflows             $    78,296      $   505,733      $   252,270
                              Future production
                                  costs and taxes                 (26,083)         (41,689)         (30,598)
                              Future development costs             (6,384)          (8,225)          (5,634)
                              Future income tax expenses               --         (122,881)         (55,090)
                              -----------------------------------------------------------------------------

                              Net future cash flows                45,829          332,938          160,948

                              Discount at 10% for
                                  timing of cash flows            (24,095)         (97,195)         (60,066)
                              -----------------------------------------------------------------------------

                              Discounted future net
                                  cash flows from
                                  proved reserves             $    21,734      $   235,743      $   100,882
                              ==============================================================================



                              The following  table sets forth the changes in the
                              standardized measure of discounted future net cash
                              flows from proved reserves during 2001 and 2000:




                                                                             AMOUNTS IN THOUSANDS
                                                                          2001           2000              1999
                              -------------------------------------------------------------------------------

                                                                                       
                              BALANCE, beginning of year      $   235,743      $   100,882      $    42,976
                              Sales, net of production costs
                                and taxes                          (3,705)          (2,627)            (452)
                              Discoveries and extensions            4,167            1,778           27,394
                              Changes in prices and
                                production costs                 (299,527)         360,082           27,919
                              Revisions of quantity estimates     (33,449)        (186,289)          21,799
                              Development costs incurred               --            1,236            1,076
                              Interest factor - accretion
                                of discount                        32,198           13,355            5,329
                              Net change in income taxes           86,237          (53,572)         (22,869)
                              Changes in future development
                                costs                               2,666           (3,237)             556
                              Changes in production rates
                                and other                          (2,596)           4,135           (2,846)
                              -------------------------------------------------------------------------------

                              BALANCE, end of year            $    21,734      $   235,743      $   100,882
                              ==============================================================================







                                                                            F-36



                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

================================================================================

                              Estimated  future  net  cash  flows  represent  an
                              estimate   of  future   net   revenues   from  the
                              production of proved  reserves using current sales
                              prices,  along  with  estimates  of the  operating
                              costs, production taxes and future development and
                              abandonment  costs (less salvage value)  necessary
                              to produce such reserves.  The average prices used
                              at December 31,  2001,  2000 and 1999 were $17.03,
                              $25.62  and  $23.01  per  barrel of oil and $2.33,
                              $9.66 and $2.38 per MCF of gas,  respectively.  No
                              deduction   has  been   made   for   depreciation,
                              depletion  or any  indirect  costs such as general
                              corporate overhead or interest expense.

                              Operating costs and production taxes are estimated
                              based on current  costs with  respect to producing
                              gas properties. Future development costs are based
                              on  the  best  estimate  of  such  costs  assuming
                              current economic and operating conditions.

                              Income tax expense is  computed  based on applying
                              the  appropriate  statutory tax rate to the excess
                              of future cash inflows less future  production and
                              development  costs over the  current  tax basis of
                              the   properties    involved,    less   applicable
                              carryforwards,  for both  regular and  alternative
                              minimum tax.

                              The  future  net  revenue  information  assumes no
                              escalation  of costs  or  prices,  except  for gas
                              sales made under terms of contracts  which include
                              fixed and  determinable  escalation.  Future costs
                              and prices could  significantly  vary from current
                              amounts and, accordingly,  revisions in the future
                              could be significant.





                                                                            F-37

EX-21

Exhibit 21

List of Subsidiaries

Name                                           State of Incorporation

Tengasco Pipeline Corporation                  Tennessee
Tennessee Land and Mineral Corporation         Tennessee

EX-99.15

                                                                  Exhibit 99.15


[RYDER SCOTT LOGO]  RYDER SCOTT COMPANY
                    ----------------------
                    PETROLEUM CONSULTANTS

1100 LOUISIANA          SUITE 3800      HOUSTON, TEXAS 77002-5218
                                     TELEPHONE (713) 651-9191 FAX (713) 651-0849



                                 March 28, 2002




Tengasco, Inc.
603 Main Avenue, Suite 500
Knoxville, Tennessee  37902

Gentlemen:

         At your request,  we have prepared an estimate of the reserves,  future
production,  and income  attributable to certain leasehold and royalty interests
of Tengasco, Inc. (Tengasco) as of December 31, 2001. The subject properties are
located in the states of Kansas and  Tennessee.  The income data were  estimated
using the Securities and Exchange Commission (SEC) requirements for future price
and cost parameters.

         The  estimated  reserves and future  income  amounts  presented in this
report  are  related  to  hydrocarbon  prices.  Hydrocarbon  prices in effect at
December 31, 2001 were used in the preparation of this report as required by SEC
rules;  however,  actual future prices may vary  significantly from December 31,
2001 prices.  Therefore,  volumes of reserves actually  recovered and amounts of
income actually received may differ  significantly from the estimated quantities
presented in this report. The results of this study are summarized below.

                                 SEC PARAMETERS
                     Estimated Net Reserves and Income Data
                   Certain Leasehold and Royalty Interests of
                                 TENGASCO, INC.
                             As of December 31, 2001
      --------------------------------------------------------------------




                                                                                Proved
                                        ---------------------------------------------------------------------------------------
                                                       Developed
                                        -----------------------------------------                                   Total
                                           Producing            Non-Producing            Undeveloped               Proved
                                        ----------------      -------------------      -----------------       ----------------
                                                                                                     
NET REMAINING RESERVES
  Oil/Condensate - Barrels                      767,126                  140,986                148,563              1,056,675
  Gas - MMCF                                      7,157                    7,565                 11,158                 25,880

INCOME DATA
  Future Gross Revenue                      $28,303,283              $19,441,729            $27,938,639            $75,683,651
  Deductions                                 15,484,511                3,860,295             10,510,368             29,855,174
                                            -----------              -----------            -----------            -----------
  Future Net Income (FNI)                   $12,818,772              $15,581,434            $17,428,271            $45,828,477

  Discounted FNI @ 10%                      $ 7,365,661              $ 6,536,101            $ 7,832,145            $21,733,907


                                                                                    
1100, 530 - 8th AVENUE, S.W.        CALGARY, ALBERTA T2P 3S8           TEL (403) 262-2799    FAX (403) 262-2790
600 17TH  STREET, SUITE 1610N       DENVER, COLORADO  80202-5416       TEL (303) 623-9147    FAX (303) 623-4258





Tengasco, Inc.
March 28, 2002
Page 2



                                                                     Probable
                                        --------------------------------------------------------------------
                                            Developed                                          Total
                                          Non-Producing              Undeveloped              Probable
                                        -------------------       -------------------     ------------------
                                                                               
NET REMAINING RESERVES
  Oil/Condensate - Barrels                        0                     29,946                  29,946
  Gas - MMCF                                     16                        892                     908

INCOME DATA
  Future Gross Revenue                      $36,925                 $2,530,690              $2,567,615
  Deductions                                      0                  1,479,251               1,479,251
                                            -------                 ----------              ----------
  Future Net Income (FNI)                   $36,925                 $1,051,439              $1,088,364

  Discounted FNI @ 10%                      $18,394                 $  409,536              $  427,930


                                                                Total
                                                               Possible
                                                             Undeveloped*
                                                             ------------
NET REMAINING RESERVES
  Oil/Condensate - Barrels                                         0
  Gas - MMCF                                                       0

INCOME DATA
  Future Gross Revenue                                           $ 0
  Deductions                                                       0
                                                                 ---
  Future Net Income (FNI)                                        $ 0

  Discounted FNI @ 10%                                           $ 0

  * Possible undeveloped reserves are uneconomic at current prices.

         Liquid  hydrocarbons  are expressed in standard 42 gallon barrels.  All
gas  volumes  are sales gas  expressed  in  millions of cubic feet (MMCF) at the
official  temperature  and pressure bases of the areas in which the gas reserves
are located.

         The future gross revenue is after the  deduction of  production  taxes.
The  deductions  comprise  the  normal  direct  costs of  operating  the  wells,
recompletion  costs and development  costs.  The future net income is before the
deduction of state and federal income taxes and general administrative overhead,
and has not been  adjusted  for  outstanding  loans  that may  exist nor does it
include any adjustment for cash on hand or undistributed  income. No attempt was
made to  quantify  or  otherwise  account  for any  accumulated  gas  production
imbalances that may exist. Gas reserves account for approximately 77 percent and
liquid hydrocarbon reserves account for the remaining 23 percent of total future
gross revenue from proved reserves.

         The  discounted  future net income shown above was  calculated  using a
discount rate of 10 percent per annum compounded monthly.  Future net income was
discounted  at four other  discount  rates which were also  compounded  monthly.
These results are shown on each  estimated  projection of future  production and
income  presented  in a later  section of this  report  and in  summary  form as
follows.


Tengasco, Inc.
March 28, 2002
Page 3



                                                      Discounted Future Net Income
                                                        As of December 31, 2001
                              --------------------------------------------------------------------------
   Discount Rate                    Total                         Total                     Total
      Percent                       Proved                       Probable                 Possible*
- ---------------------         -------------------           -------------------        -----------------
                                                                                    
          5                      $29,843,361                     $676,488                    $ 0
         15                      $16,868,803                     $271,931                    $ 0
         20                      $13,635,421                     $170,934                    $ 0
         25                      $11,336,153                     $103,978                    $ 0


*Possible undeveloped reserves are uneconomic at current prices.

         The results shown above are presented for your  information  and should
not be construed as our estimate of fair market value.

RESERVES INCLUDED IN THIS REPORT

         The PROVED  RESERVES  included  herein conform to the definition as set
forth in the Securities and Exchange  Commission's  Regulation S-X Part 210.4-10
(a) as  clarified by  subsequent  Commission  Staff  Accounting  Bulletins.  The
PROBABLE  RESERVES and POSSIBLE  RESERVES included herein conform to definitions
of  probable  and  possible   reserves   approved  by  the  SPE/WPC   using  the
deterministic  methodology.  The definitions of proved,  probable,  and possible
reserves are included under the tab "Reserve Definitions" in this report.

         We have  included  probable  and  possible  reserves and income in this
report at the request of  Tengasco.  These data are for  Tengasco's  information
only,  and should not be  included  in reports to the SEC  according  to the SEC
disclosure  specifications.  The  probable  reserves  are  less  certain  to  be
recovered than the proved reserves and reserves  classified as possible are less
certain to be recovered  than those in the probable  category.  The reserves and
income quantities attributable to the different reserve classifications that are
included  herein have not been  adjusted to reflect the varying  degrees of risk
associated with them and thus are not comparable.

         Because  of  the  direct   relationship   between   volumes  of  proved
undeveloped reserves and development plans, we include in the proved undeveloped
category  only  reserves  assigned to  undeveloped  locations  that we have been
assured will definitely be drilled.

         The  various  reserve  status  categories  are  defined  under  the tab
"Reserve  Definitions"  in this report.  The  developed  non-producing  reserves
included herein are comprised of the shut-in and behind pipe categories.

ESTIMATES OF RESERVES

         The reserves  included  herein were  estimated  using the  performance,
volumetric and analogy methods. The reserves estimated by the performance method
utilized  extrapolations  of various  historical  data in those cases where such
data were  definitive  in our opinion.  Performance  estimates  accounted for 21
percent of the proved  reserves on a net oil  equivalent  basis.  Reserves  were
estimated by the volumetric and analogy  methods in those cases where there were
inadequate historical  performance data to establish a definitive trend or where
the use of performance data as a basis for the reserve  estimates was considered
to be  inappropriate.  Reserves by analogy  accounted for 45 percent of reserves
and volumetric estimates accounted for the remaining 34 percent.

                   RYDER SCOTT COMPANY PETROLEUM CONSULTANTS


Tengasco, Inc.
March 28, 2002
Page 4

         The reserves  included in this report are estimates only and should not
be  construed  as  being  exact  quantities.  They  may or may  not be  actually
recovered, and if recovered, the revenues therefrom and the actual costs related
thereto could be more or less than the estimated amounts. Moreover, estimates of
reserves may increase or decrease as a result of future operations.

FUTURE PRODUCTION RATES

         Initial  production rates are based on the current  producing rates for
those wells now on production. Test data and other related information were used
to  estimate  the  anticipated  initial  production  rates  for  those  wells or
locations that are not currently  producing.  If no production decline trend had
been established,  future  production rates were held constant,  or adjusted for
the  effects of  curtailment  where  appropriate,  until a decline in ability to
produce  was  anticipated.  An  estimated  rate of decline  was then  applied to
depletion of the reserves.  If a decline trend has been established,  this trend
was used as the basis for estimating  future  production rates. For reserves not
yet on  production,  sales were  estimated  to commence at an  anticipated  date
furnished by Tengasco.

         The future production rates from wells now on production may be more or
less than  estimated  because of changes in market demand or  allowables  set by
regulatory bodies. Wells or locations that are not currently producing may start
producing  earlier or later than  anticipated  in our  estimates of their future
production rates.

HYDROCARBON PRICES

         Tengasco furnished us with hydrocarbon prices in effect at December 31,
2001 and with its  forecasts  of future  prices  which take into account SEC and
Financial  Accounting  Standards  Board (FASB)  rules,  current  market  prices,
contract prices,  and fixed and determinable price escalations where applicable.
The hydrocarbon  prices utilized this study were $17.24 per barrel and $2.13 per
Mcf for the properties  located in the state of Kansas and $16.25 per barrel and
$2.355 per Mcf for the properties located in the state of Tennessee.

         In  accordance  with FASB  Statement  No. 69,  December 31, 2001 market
prices were determined using the daily oil price or daily gas sales price ("spot
price")   adjusted  for  oilfield  or  gas  gathering  hub  and  wellhead  price
differences  (e.g.  grade,   transportation,   gravity,   sulfur  and  BS&W)  as
appropriate.  Also in accordance  with SEC and FASB  specifications,  changes in
market  prices  subsequent  to  December  31, 2001 were not  considered  in this
report.

COSTS

         Operating  costs for the leases  and wells in this  report are based on
the operating  expense reports of Tengasco and include only those costs directly
applicable to the leases or wells. When applicable,  the operating costs include
a portion of general and  administrative  costs allocated directly to the leases
and  wells  under  terms of  operating  agreements.  No  deduction  was made for
indirect  costs such as  general  administration  and  overhead  expenses,  loan
repayments,  interest expenses, and exploration and development prepayments that
were not charged directly to the leases or wells.

         Development  costs were  furnished  to us by Tengasco  and are based on
authorizations for expenditure for the proposed work or actual costs for similar
projects.  At the request of Tengasco,  their estimate of zero abandonment costs
after  salvage  value was used in this report.  Ryder Scott has not  performed a
detailed  study of the  abandonment  costs or the  salvage  value  and  makes no
warranty for Tengasco's estimate.

         Current costs were held constant throughout the life of the properties.

                     RYDER SCOTT COMPANY  PETROLEUM PRODUCTS


Tengasco, Inc.
March 28, 2002
Page 5

GENERAL

         Table A presents a one line  summary of proved  reserve and income data
for each of the subject  properties  which are ranked  according to their future
net  income  discounted  at 10  percent  per year.  Table B  presents a one line
summary  of gross  and net  reserves  and  income  data for each of the  subject
properties.  Table C presents a one line summary of initial  basic data for each
of the subject properties. Tables 1 through 331 present our estimated projection
of production and income by years beginning December 31, 2001, by state,  field,
and lease or well.

         While it may reasonably be anticipated  that the future prices received
for the sale of production  and the operating  costs and other costs relating to
such production may also increase or decrease from existing levels, such changes
were, in accordance with rules adopted by the SEC, omitted from consideration in
making this evaluation.

         The estimates of reserves  presented  herein were based upon a detailed
study of the properties in which Tengasco owns an interest; however, we have not
made any field examination of the properties. No consideration was given in this
report to potential environmental  liabilities that may exist nor were any costs
included for potential liability to restore and clean up damages, if any, caused
by past operating  practices.  Tengasco has informed us that they have furnished
us all of the accounts,  records,  geological and engineering  data, and reports
and other data required for this investigation. The ownership interests, prices,
and other factual data furnished by Tengasco were accepted  without  independent
verification. The estimates presented in this report are based on data available
through December 2001.

         Tengasco has assured us of their intent and ability to proceed with the
development  activities  included in this report, and that they are not aware of
any legal,  regulatory or political  obstacles  that would  significantly  alter
their plans.

         Neither we nor any of our  employees  have any  interest in the subject
properties and neither the employment to make this study nor the compensation is
contingent  on our  estimates  of  reserves  and future  income for the  subject
properties.

         This report was  prepared  for the  exclusive  use and sole  benefit of
Tengasco, Inc. The data, work papers, and maps used in this report are available
for  examination by authorized  parties in our offices.  Please contact us if we
can be of further service.

                                                     Very truly yours,

                                                     RYDER SCOTT COMPANY, L.P.

                                                     /s/ C. Patrick McInturff
                                                     ---------------------------
                                                     C. Patrick McInturff, P.E.
                                                     Petroleum Engineer
CPM/sw

Approved:

/s/ John R. Warner
- -------------------------------------
John R. Warner, P.E.
Executive Vice President-International

                   RYDER SCOTT COMPANY  PETROLEUM CONSULTANTS



                                  TENGASCO, INC.                         TABLE 1
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY
                                                                                       TOTAL PROVED
     TOTAL PROPERTIES                                                                  ALL CATEGORIES


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -    29,843,361
 FINAL   -                                                                                 10.00% -    21,733,907
 REMARKS -                                                                                 15.00% -    16,868,803
                                                                                           20.00% -    13,635,421
                                                                                           25.00% -    11,336,153




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002   213       162,741           0       1,687         124,825           0       1,222.980      17.03     2.31
 2003   215       153,743           0       3,580         118,968           0       2,708.244      16.99     2.33
 2004   217       122,650           0       3,149          96,206           0       2,423.371      17.03     2.33
 2005   205       103,599           0       2,745          82,059           0       2,102.650      17.07     2.33
 2006   195        90,420           0       2,139          71,796           0       1,632.199      17.09     2.33
 2007   174        78,041           0       1,774          61,845           0       1,338.644      17.09     2.33
 2008   168        72,645           0       1,588          57,633           0       1,187.772      17.11     2.33
 2009   163        66,231           0       1,418          52,422           0       1,062.024      17.10     2.33
 2010   156        63,804           0       1,346          50,317           0       1,002.487      17.10     2.33
 2011   151        58,192           0       1,406          45,806           0       1,067.988      17.10     2.33
 2012   146        50,351           0       1,262          39,718           0         959.485      17.12     2.33
 2013   132        44,929           0       1,124          35,474           0         854.065      17.13     2.33
 2014   125        37,131           0       1,012          29,184           0         773.881      17.12     2.33
 2015   121        31,130           0         937          24,507           0         717.459      17.12     2.33
 2016   113        26,757           0         864          21,155           0         657.939      17.13     2.33

 SUB-TOTAL      1,162,364           0      26,031         911,915           0      19,711.188      17.07     2.33
 REMAINDER        184,647           0       8,079         144,760           0       6,169.014      16.78     2.33
 TOTAL          1,347,011           0      34,110       1,056,675           0      25,880.202      17.03     2.33


 CUMULATIVE
 ULTIMATE


                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002        2,125,526           0     2,824,056            0     4,949,582      85,819      91,160     4,772,603
 2003        2,020,835           0     6,316,562            0     8,337,397      80,461     196,584     8,060,352
 2004        1,638,968           0     5,652,986            0     7,291,954      66,224     175,788     7,049,942
 2005        1,400,318           0     4,898,629            0     6,298,947      57,240     153,066     6,088,641
 2006        1,226,761           0     3,799,903            0     5,026,664      50,700     118,978     4,856,986
 2007        1,057,129           0     3,113,891            0     4,171,020      43,799      97,757     4,029,464
 2008          985,827           0     2,763,525            0     3,749,352      40,992      86,715     3,621,645
 2009          896,635           0     2,471,610            0     3,368,245      37,274      77,531     3,253,440
 2010          860,304           0     2,333,438            0     3,193,742      35,689      73,149     3,084,904
 2011          783,442           0     2,489,753            0     3,273,195      32,558      77,587     3,163,050
 2012          680,061           0     2,235,469            0     2,915,530      28,411      69,826     2,817,293
 2013          607,535           0     1,989,088            0     2,596,623      25,426      62,209     2,508,988
 2014          499,555           0     1,804,009            0     2,303,564      20,863      56,200     2,226,501
 2015          419,640           0     1,671,891            0     2,091,531      17,553      52,145     2,021,833
 2016          362,453           0     1,533,513            0     1,895,966      15,199      47,788     1,832,979

 SUB-TOT    15,564,989           0    45,898,323            0    61,463,312     638,208   1,436,483    59,388,621
 REMAIN      2,429,553           0    14,402,937            0    16,832,490      90,757     446,703    16,295,030
 TOTAL      17,994,542           0    60,301,260            0    78,295,802     728,965   1,883,186    75,683,651







                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002      1,588,398           0   1,871,153           0     3,459,551      1,313,052     1,313,052     1,251,918
 2003      1,666,666           0   2,124,875           0     3,791,541      4,268,811     5,581,863     3,652,346
 2004      1,605,454           0   2,000,000           0     3,605,454      3,444,488     9,026,351     2,687,966
 2005      1,539,427           0      27,000           0     1,566,427      4,522,214    13,548,565     3,199,998
 2006      1,484,370           0           0           0     1,484,370      3,372,616    16,921,181     2,159,994
 2007      1,370,478           0           0           0     1,370,478      2,658,986    19,580,167     1,541,016
 2008      1,237,226           0      10,000           0     1,247,226      2,374,419    21,954,586     1,244,682
 2009      1,185,482           0      25,000           0     1,210,482      2,042,958    23,997,544       969,545
 2010      1,151,146           0      21,213           0     1,172,359      1,912,545    25,910,089       821,423
 2011      1,078,158           0      30,000           0     1,108,158      2,054,892    27,964,981       796,439
 2012        976,152           0           0           0       976,152      1,841,141    29,806,122       648,389
 2013        902,268           0           0           0       902,268      1,606,720    31,412,842       512,027
 2014        783,104           0           0           0       783,104      1,443,397    32,856,239       416,243
 2015        721,085           0           0           0       721,085      1,300,748    34,156,987       339,579
 2016        672,489           0           0           0       672,489      1,160,490    35,317,477       274,211

 SUBTOT   17,961,903           0   6,109,241           0    24,071,144     35,317,477                  20,515,776
 REMAIN    5,509,030           0     275,000           0     5,784,030     10,511,000    45,828,477     1,218,131
 TOTAL    23,470,933           0   6,384,241           0    29,855,174     45,828,477                  21,733,907

   LIFE OF SUMMARY IS 57.67 YEARS.




                             TENGASCO, INC.                              TABLE 2
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY
                                                                                       PROVED
     TOTAL PROPERTIES                                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -     9,319,944
 FINAL   -                                                                                 10.00% -     7,365,661
 REMARKS -                                                                                 15.00% -     6,136,361
                                                                                           20.00% -     5,291,894
                                                                                           25.00% -     4,673,265




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002   190       128,442           0       1,125         100,971           0         834.052      17.09     2.29
 2003   172       110,590           0         828          86,987           0         608.452      17.08     2.28
 2004   167        95,653           0         724          75,142           0         534.166      17.08     2.27
 2005   156        83,641           0         651          65,842           0         480.387      17.09     2.27
 2006   148        74,259           0         556          58,574           0         413.455      17.09     2.27
 2007   128        63,774           0         498          50,217           0         370.573      17.09     2.27
 2008   123        59,553           0         432          46,977           0         326.302      17.10     2.27
 2009   117        53,532           0         399          42,178           0         302.631      17.10     2.27
 2010   111        49,842           0         381          39,313           0         283.889      17.11     2.27
 2011   106        44,928           0         350          35,352           0         264.939      17.12     2.27
 2012   101        38,505           0         331          30,420           0         250.415      17.12     2.27
 2013    91        34,326           0         311          27,147           0         234.590      17.13     2.27
 2014    84        27,848           0         274          21,875           0         211.637      17.12     2.27
 2015    80        22,479           0         264          17,686           0         201.776      17.12     2.27
 2016    73        18,688           0         247          14,783           0         187.743      17.13     2.28

 SUB-TOTAL        906,060           0       7,371         713,464           0       5,505.007      17.10     2.27
 REMAINDER         67,227           0       2,140          53,662           0       1,652.176      17.13     2.28
 TOTAL            973,287           0       9,511         767,126           0       7,157.183      17.10     2.28


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                               
 2002        1,725,106           0     1,911,973            0     3,637,079      71,297      63,742     3,502,040
 2003        1,486,054           0     1,385,102            0     2,871,156      61,383      47,377     2,762,396
 2004        1,283,717           0     1,213,439            0     2,497,156      52,999      41,823     2,402,334
 2005        1,124,918           0     1,089,918            0     2,214,836      46,492      37,737     2,130,607
 2006        1,001,116           0       938,120            0     1,939,236      41,439      32,447     1,865,350
 2007          858,106           0       840,933            0     1,699,039      35,495      29,063     1,634,481
 2008          803,234           0       740,721            0     1,543,955      33,329      25,626     1,485,000
 2009          721,320           0       687,024            0     1,408,344      29,966      23,843     1,354,535
 2010          672,724           0       644,050            0     1,316,774      28,031      22,406     1,266,337
 2011          605,062           0       601,211            0     1,206,273      25,238      20,895     1,160,140
 2012          520,938           0       568,006            0     1,088,944      21,780      19,778     1,047,386
 2013          464,910           0       531,863            0       996,773      19,450      18,550       958,773
 2014          374,371           0       480,959            0       855,330      15,619      16,626       823,085
 2015          302,758           0       458,447            0       761,205      12,650      15,858       732,697
 2016          253,243           0       427,131            0       680,374      10,609      14,703       655,062

 SUB-TOT    12,197,577           0    12,518,897            0    24,716,474     505,777     430,474    23,780,223
 REMAIN        919,404           0     3,770,482            0     4,689,886      38,552     128,274     4,523,060
 TOTAL      13,116,981           0    16,289,379            0    29,406,360     544,329     558,748    28,303,283






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002      1,495,838           0           0           0     1,495,838      2,006,202     2,006,202     1,916,669
 2003      1,326,670           0           0           0     1,326,670      1,435,726     3,441,928     1,239,299
 2004      1,231,837           0           0           0     1,231,837      1,170,497     4,612,425       914,312
 2005      1,153,519           0           0           0     1,153,519        977,088     5,589,513       690,840
 2006      1,094,866           0           0           0     1,094,866        770,484     6,359,997       493,149
 2007        988,171           0           0           0       988,171        646,310     7,006,307       374,482
 2008        869,321           0           0           0       869,321        615,679     7,621,986       322,826
 2009        825,075           0           0           0       825,075        529,460     8,151,446       251,297
 2010        799,845           0           0           0       799,845        466,492     8,617,938       200,421
 2011        725,649           0           0           0       725,649        434,491     9,052,429       168,968
 2012        641,142           0           0           0       641,142        406,244     9,458,673       143,001
 2013        581,361           0           0           0       581,361        377,412     9,836,085       120,284
 2014        472,199           0           0           0       472,199        350,886    10,186,971       101,193
 2015        412,280           0           0           0       412,280        320,417    10,507,388        83,647
 2016        370,147           0           0           0       370,147        284,915    10,792,303        67,327

 SUBTOT   12,987,920           0           0           0    12,987,920     10,792,303                   7,087,715
 REMAIN    2,496,591           0           0           0     2,496,591      2,026,469    12,818,772       277,946
 TOTAL    15,484,511           0           0           0    15,484,511     12,818,772                   7,365,661


   LIFE OF SUMMARY IS 42.25 YEARS.


                             TENGASCO, INC.                              TABLE 3
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY
                                                                                       PROVED
     TOTAL PROPERTIES                                                                  SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -     1,262,393
 FINAL   -                                                                                 10.00% -     1,037,631
 REMARKS -                                                                                 15.00% -       884,034
                                                                                           20.00% -       770,957
                                                                                           25.00% -       683,342





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     9        15,478           0          84           8,517           0          49.200      16.33     2.32
 2003    11        12,028           0         201           7,253           0         120.984      16.35     2.34
 2004     9         5,335           0         158           3,753           0          99.004      16.43     2.34
 2005     8         2,632           0          88           2,284           0          51.181      16.44     2.32
 2006     5         1,782           0          74           1,559           0          44.532      16.25     2.32
 2007     5         1,515           0          68           1,326           0          41.042      16.25     2.32
 2008     5         1,287           0          63           1,126           0          38.199      16.25     2.32
 2009     5         1,095           0          57             958           0          35.787      16.25     2.32
 2010     5           930           0          56             814           0          33.684      16.25     2.32
 2011     5           791           0          45             692           0          29.258      16.25     2.31
 2012     4           178           0          36             156           0          24.521      16.25     2.31
 2013     3             0           0          34               0           0          23.291       0.00     2.31
 2014     3             0           0          33               0           0          22.123       0.00     2.31
 2015     3             0           0          30               0           0          21.013       0.00     2.31
 2016     3             0           0          25               0           0          17.988       0.00     2.30

 SUB-TOTAL         43,051           0       1,052          28,438           0         651.807      16.34     2.32
 REMAINDER              0           0         169               0           0         146.223       0.00     2.32
 TOTAL             43,051           0       1,221          28,438           0         798.030      16.34     2.32


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002          139,089           0       114,092            0       253,181       3,884       3,218       246,079
 2003          118,578           0       283,077            0       401,655       3,259       8,279       390,117
 2004           61,651           0       231,408            0       293,059       1,570       6,741       284,748
 2005           37,531           0       118,870            0       156,401         949       3,374       152,078
 2006           25,339           0       103,299            0       128,638         760       2,918       124,960
 2007           21,539           0        95,159            0       116,698         646       2,683       113,369
 2008           18,307           0        88,541            0       106,848         550       2,492       103,806
 2009           15,561           0        82,931            0        98,492         466       2,332        95,694
 2010           13,227           0        78,046            0        91,273         397       2,194        88,682
 2011           11,244           0        67,691            0        78,935         338       1,890        76,707
 2012            2,536           0        56,596            0        59,132          76       1,565        57,491
 2013                0           0        53,757            0        53,757           0       1,486        52,271
 2014                0           0        51,062            0        51,062           0       1,413        49,649
 2015                0           0        48,501            0        48,501           0       1,340        47,161
 2016                0           0        41,428            0        41,428           0       1,136        40,292

 SUB-TOT       464,602           0     1,514,458            0     1,979,060      12,895      43,061     1,923,104
 REMAIN              0           0       339,660            0       339,660           0       9,648       330,012
 TOTAL         464,602           0     1,854,118            0     2,318,720      12,895      52,709     2,253,116







                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002         34,237           0           0           0        34,237        211,842       211,842       197,479
 2003         61,154           0           0           0        61,154        328,963       540,805       284,533
 2004         50,544           0           0           0        50,544        234,204       775,009       183,052
 2005         35,883           0           0           0        35,883        116,195       891,204        82,246
 2006         30,204           0           0           0        30,204         94,756       985,960        60,624
 2007         30,204           0           0           0        30,204         83,165     1,069,125        48,161
 2008         30,204           0           0           0        30,204         73,602     1,142,727        38,582
 2009         30,204           0           0           0        30,204         65,490     1,208,217        31,074
 2010         30,204           0           0           0        30,204         58,478     1,266,695        25,114
 2011         28,637           0           0           0        28,637         48,070     1,314,765        18,738
 2012         19,404           0           0           0        19,404         38,087     1,352,852        13,400
 2013         17,004           0           0           0        17,004         35,267     1,388,119        11,232
 2014         17,004           0           0           0        17,004         32,645     1,420,764         9,411
 2015         17,004           0           0           0        17,004         30,157     1,450,921         7,871
 2016         15,642           0           0           0        15,642         24,650     1,475,571         5,845

 SUBTOT      447,533           0           0           0       447,533      1,475,571                   1,017,362
 REMAIN      175,929           0           0           0       175,929        154,083     1,629,654        20,269
 TOTAL       623,462           0           0           0       623,462      1,629,654                   1,037,631


   LIFE OF SUMMARY IS 34.26 YEARS.



                             TENGASCO, INC.                              TABLE 4
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 GRAND SUMMARY
                                                                                       PROVED
     TOTAL PROPERTIES                                                                  BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                             
 INITIAL -                                                                                  5.00% -     8,012,682
 FINAL   -                                                                                 10.00% -     5,498,470
 REMARKS -                                                                                 15.00% -     4,140,414
                                                                                           20.00% -     3,289,440
                                                                                           25.00% -     2,703,795




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         4,199           0          46           3,132           0          31.952      16.25     2.29
 2003    11        16,621           0         867          12,524           0         678.761      16.43     2.34
 2004    12         9,426           0         579           7,029           0         446.454      16.55     2.34
 2005    12         5,821           0         549           4,272           0         399.297      16.70     2.33
 2006    13         3,558           0         460           2,586           0         332.837      16.94     2.33
 2007    12         2,571           0         395           1,767           0         285.918      17.17     2.34
 2008    11         2,222           0         390           1,502           0         270.177      17.24     2.34
 2009    12         2,581           0         332           1,734           0         229.956      17.04     2.34
 2010    11         4,531           0         315           3,081           0         218.106      16.81     2.35
 2011    11         4,462           0         467           3,068           0         345.516      16.86     2.35
 2012    12         4,115           0         391           2,837           0         289.381      16.88     2.35
 2013     9         3,481           0         312           2,384           0         229.893      16.86     2.35
 2014     9         2,561           0         270           1,706           0         199.787      16.76     2.36
 2015     9         2,309           0         240           1,539           0         180.390      16.77     2.35
 2016     9         2,080           0         222           1,388           0         165.424      16.78     2.35

 SUB-TOTAL         70,538           0       5,835          50,549           0       4,303.849      16.68     2.34
 REMAINDER         81,611           0       3,238          61,999           0       2,463.345      16.27     2.35
 TOTAL            152,149           0       9,073         112,548           0       6,767.194      16.45     2.35


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002           50,906           0        73,178            0       124,084       1,527       2,456       120,101
 2003          205,812           0     1,586,769            0     1,792,581       6,709      49,078     1,736,794
 2004          116,335           0     1,043,614            0     1,159,949       3,979      32,287     1,123,683
 2005           71,339           0       930,290            0     1,001,629       2,588      29,174       969,867
 2006           43,799           0       777,046            0       820,845       1,725      24,165       794,955
 2007           30,342           0       667,981            0       698,323       1,287      20,716       676,320
 2008           25,895           0       631,731            0       657,626       1,121      19,521       636,984
 2009           29,542           0       539,103            0       568,645       1,202      16,482       550,961
 2010           51,791           0       512,007            0       563,798       1,955      15,567       546,276
 2011           51,731           0       812,262            0       863,993       1,985      24,546       837,462
 2012           47,876           0       680,250            0       728,126       1,848      20,566       705,712
 2013           40,182           0       540,853            0       581,035       1,540      16,293       563,202
 2014           28,609           0       470,499            0       499,108       1,062      14,115       483,931
 2015           25,805           0       424,815            0       450,620         960      12,745       436,915
 2016           23,284           0       389,576            0       412,860         869      11,687       400,304

 SUB-TOT       843,248           0    10,079,974            0    10,923,222      30,357     309,398    10,583,467
 REMAIN      1,008,485           0     5,801,178            0     6,809,663      30,483     174,034     6,605,146
 TOTAL       1,851,733           0    15,881,152            0    17,732,885      60,840     483,432    17,188,613






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002          5,500           0     182,000           0       187,500        -67,399       -67,399       -71,708
 2003        115,716           0      89,750           0       205,466      1,531,328     1,463,929     1,326,140
 2004        122,315           0           0           0       122,315      1,001,368     2,465,297       783,276
 2005        126,266           0      27,000           0       153,266        816,601     3,281,898       576,904
 2006        109,715           0           0           0       109,715        685,240     3,967,138       438,647
 2007        102,516           0           0           0       102,516        573,804     4,540,942       332,356
 2008         88,115           0      10,000           0        98,115        538,869     5,079,811       282,225
 2009         80,617           0      25,000           0       105,617        445,344     5,525,155       211,567
 2010         81,511           0      21,213           0       102,724        443,552     5,968,707       190,447
 2011         84,286           0      30,000           0       114,286        723,176     6,691,883       278,615
 2012         76,020           0           0           0        76,020        629,692     7,321,575       222,043
 2013         64,316           0           0           0        64,316        498,886     7,820,461       159,080
 2014         64,315           0           0           0        64,315        419,616     8,240,077       121,028
 2015         64,316           0           0           0        64,316        372,599     8,612,676        97,263
 2016         64,315           0           0           0        64,315        335,989     8,948,665        79,384

 SUBTOT    1,249,839           0     384,963           0     1,634,802      8,948,665                   5,027,267
 REMAIN    1,327,031           0     275,000           0     1,602,031      5,003,115    13,951,780       471,203
 TOTAL     2,576,870           0     659,963           0     3,236,833     13,951,780                   5,498,470


   LIFE OF SUMMARY IS 57.67 YEARS.


                             TENGASCO, INC.                              TABLE 5
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY

                                                                                       PROVED
     TOTAL PROPERTIES                                                                  UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
INITIAL -                                                                                  5.00% -    11,248,342
 FINAL   -                                                                                 10.00% -     7,832,145
 REMARKS -                                                                                 15.00% -     5,707,994
                                                                                           20.00% -     4,283,130
                                                                                           25.00% -     3,275,751




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002    11        14,622           0         432          12,205           0         307.777      17.24     2.36
 2003    21        14,504           0       1,684          12,204           0       1,300.047      17.24     2.35
 2004    29        12,236           0       1,688          10,282           0       1,343.747      17.24     2.35
 2005    29        11,505           0       1,457           9,661           0       1,171.786      17.24     2.35
 2006    29        10,821           0       1,049           9,077           0         841.375      17.24     2.35
 2007    29        10,181           0         813           8,535           0         641.110      17.24     2.35
 2008    29         9,583           0         703           8,028           0         553.094      17.24     2.35
 2009    29         9,023           0         630           7,552           0         493.651      17.24     2.35
 2010    29         8,501           0         594           7,109           0         466.809      17.24     2.36
 2011    29         8,011           0         544           6,694           0         428.275      17.24     2.36
 2012    29         7,553           0         504           6,305           0         395.168      17.24     2.36
 2013    29         7,122           0         467           5,943           0         366.292      17.24     2.35
 2014    29         6,722           0         435           5,603           0         340.334      17.24     2.35
 2015    29         6,342           0         403           5,282           0         314.279      17.24     2.35
 2016    28         5,989           0         370           4,984           0         286.784      17.24     2.36

 SUB-TOTAL        142,715           0      11,773         119,464           0       9,250.528      17.24     2.35
 REMAINDER         35,809           0       2,532          29,099           0       1,907.270      17.24     2.35
 TOTAL            178,524           0      14,305         148,563           0      11,157.798      17.24     2.35


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002          210,425           0       724,813            0       935,238       9,111      21,744       904,383
 2003          210,391           0     3,061,614            0     3,272,005       9,110      91,850     3,171,045
 2004          177,265           0     3,164,525            0     3,341,790       7,676      94,937     3,239,177
 2005          166,530           0     2,759,551            0     2,926,081       7,211      82,781     2,836,089
 2006          156,507           0     1,981,438            0     2,137,945       6,776      59,448     2,071,721
 2007          147,142           0     1,509,818            0     1,656,960       6,371      45,295     1,605,294
 2008          138,391           0     1,302,532            0     1,440,923       5,992      39,076     1,395,855
 2009          130,212           0     1,162,552            0     1,292,764       5,640      34,874     1,252,250
 2010          122,562           0     1,099,335            0     1,221,897       5,306      32,982     1,183,609
 2011          115,405           0     1,008,589            0     1,123,994       4,997      30,256     1,088,741
 2012          108,711           0       930,617            0     1,039,328       4,707      27,917     1,006,704
 2013          102,443           0       862,615            0       965,058       4,436      25,880       934,742
 2014           96,575           0       801,489            0       898,064       4,182      24,046       869,836
 2015           91,077           0       740,128            0       831,205       3,943      22,202       805,060
 2016           85,926           0       675,378            0       761,304       3,721      20,262       737,321

 SUB-TOT     2,059,562           0    21,784,994            0    23,844,556      89,179     653,550    23,101,827
 REMAIN        501,664           0     4,491,617            0     4,993,281      21,722     134,747     4,836,812
 TOTAL       2,561,226           0    26,276,611            0    28,837,837     110,901     788,297    27,938,639






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002         52,823           0   1,689,153           0     1,741,976       -837,593      -837,593      -790,522
 2003        163,126           0   2,035,125           0     2,198,251        972,794       135,201       802,374
 2004        200,758           0   2,000,000           0     2,200,758      1,038,419     1,173,620       807,326
 2005        223,759           0           0           0       223,759      2,612,330     3,785,950     1,850,008
 2006        249,585           0           0           0       249,585      1,822,136     5,608,086     1,167,574
 2007        249,587           0           0           0       249,587      1,355,707     6,963,793       786,017
 2008        249,586           0           0           0       249,586      1,146,269     8,110,062       601,049
 2009        249,586           0           0           0       249,586      1,002,664     9,112,726       475,607
 2010        239,586           0           0           0       239,586        944,023    10,056,749       405,441
 2011        239,586           0           0           0       239,586        849,155    10,905,904       330,118
 2012        239,586           0           0           0       239,586        767,118    11,673,022       269,945
 2013        239,587           0           0           0       239,587        695,155    12,368,177       221,431
 2014        229,586           0           0           0       229,586        640,250    13,008,427       184,611
 2015        227,485           0           0           0       227,485        577,575    13,586,002       150,798
 2016        222,385           0           0           0       222,385        514,936    14,100,938       121,655

 SUBTOT    3,276,611           0   5,724,278           0     9,000,889     14,100,938                   7,383,432
 REMAIN    1,509,479           0           0           0     1,509,479      3,327,333    17,428,271       448,713
 TOTAL     4,786,090           0   5,724,278           0    10,510,368     17,428,271                   7,832,145


   LIFE OF SUMMARY IS 46.72 YEARS.



                             TENGASCO, INC.                              TABLE 6
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY

                                                                                       TOTAL PROBABLE
     TOTAL PROPERTIES                                                                  BEHIND PIPE & UNDEV.


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
INITIAL -                                                                                  5.00% -       676,488
 FINAL   -                                                                                 10.00% -       427,930
 REMARKS -                                                                                 15.00% -       271,931
                                                                                           20.00% -       170,934
                                                                                           25.00% -       103,978




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,129           0           0           2,321           0           0.000      17.24     0.00
 2003     2         3,790           0          27           2,811           0           1.661      17.24     2.35
 2004     2         3,374           0          22           2,504           0           1.375      17.24     2.35
 2005     4         3,165           0         138           2,347           0         105.203      17.24     2.35
 2006     6         2,969           0         198           2,202           0         159.614      17.24     2.35
 2007     6         2,783           0         144           2,065           0         112.850      17.24     2.36
 2008     6         2,611           0         102           1,937           0          76.924      17.24     2.35
 2009     6         2,449           0          74           1,816           0          54.948      17.24     2.36
 2010     6         2,296           0          63           1,704           0          44.627      17.24     2.35
 2011     6         2,154           0          60           1,597           0          42.227      17.24     2.35
 2012     6         2,020           0          56           1,499           0          39.752      17.24     2.36
 2013     6         1,894           0          74           1,405           0          37.497      17.24     2.35
 2014     6         1,777           0          64           1,318           0          34.106      17.24     2.35
 2015     6         1,666           0          53           1,236           0          30.761      17.24     2.36
 2016     6         1,563           0          45           1,159           0          28.035      17.24     2.35

 SUB-TOTAL         37,640           0       1,120          27,921           0         769.580      17.24     2.35
 REMAINDER          2,729           0         158           2,025           0         138.208      17.24     2.36
 TOTAL             40,369           0       1,278          29,946           0         907.788      17.24     2.35


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002           40,013           0             0            0        40,013       1,733           0        38,280
 2003           48,469           0         3,912            0        52,381       2,098         117        50,166
 2004           43,157           0         3,239            0        46,396       1,869          98        44,429
 2005           40,475           0       247,752            0       288,227       1,753       7,432       279,042
 2006           37,959           0       375,890            0       413,849       1,643      11,276       400,930
 2007           35,601           0       265,762            0       301,363       1,542       7,973       291,848
 2008           33,389           0       181,157            0       214,546       1,445       5,436       207,665
 2009           31,314           0       129,402            0       160,716       1,356       3,882       155,478
 2010           29,368           0       105,097            0       134,465       1,272       3,153       130,040
 2011           27,543           0        99,445            0       126,988       1,193       2,983       122,812
 2012           25,832           0        93,615            0       119,447       1,118       2,809       115,520
 2013           24,226           0        88,306            0       112,532       1,049       2,649       108,834
 2014           22,721           0        80,320            0       103,041         984       2,409        99,648
 2015           21,309           0        72,443            0        93,752         923       2,174        90,655
 2016           19,985           0        66,024            0        86,009         865       1,981        83,163

 SUB-TOT       481,361           0     1,812,364            0     2,293,725      20,843      54,372     2,218,510
 REMAIN         34,900           0       325,479            0       360,379       1,511       9,763       349,105
 TOTAL         516,261           0     2,137,843            0     2,654,104      22,354      64,135     2,567,615





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                 
 2002          8,180           0      91,563           0        99,743        -61,463       -61,463       -58,753
 2003         16,361           0           0           0        16,361         33,805       -27,658        29,232
 2004         16,360           0           0           0        16,360         28,069           411        21,912
 2005         26,361           0     400,000           0       426,361       -147,319      -146,908      -112,809
 2006         42,760           0     200,000           0       242,760        158,170        11,262        97,382
 2007         45,161           0           0           0        45,161        246,687       257,949       143,224
 2008         45,160           0           0           0        45,160        162,505       420,454        85,377
 2009         45,161           0           0           0        45,161        110,317       530,771        52,456
 2010         45,160           0           0           0        45,160         84,880       615,651        36,439
 2011         45,161           0           0           0        45,161         77,651       693,302        30,155
 2012         45,160           0           0           0        45,160         70,360       763,662        24,770
 2013         45,160           0           0           0        45,160         63,674       827,336        20,275
 2014         45,161           0           0           0        45,161         54,487       881,823        15,723
 2015         45,160           0           0           0        45,160         45,495       927,318        11,882
 2016         45,161           0           0           0        45,161         38,002       965,320         8,985

 SUBTOT      561,627           0     691,563           0     1,253,190        965,320                     406,250
 REMAIN      226,061           0           0           0       226,061        123,044     1,088,364        21,680
 TOTAL       787,688           0     691,563           0     1,479,251      1,088,364                     427,930


   LIFE OF SUMMARY IS 22.26 YEARS.


                                  TENGASCO, INC.                         TABLE 7
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY

                                                                                       PROBABLE
     TOTAL PROPERTIES                                                                  BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            

 INITIAL -                                                                                  5.00% -        25,467
 FINAL   -                                                                                 10.00% -        18,394
 REMARKS -                                                                                 15.00% -        13,859
                                                                                           20.00% -        10,833
                                                                                           25.00% -         8,730



                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          27               0           0           1.661       0.00     2.35
 2004     1             0           0          22               0           0           1.375       0.00     2.35
 2005     1             0           0          19               0           0           1.200       0.00     2.35
 2006     1             0           0          17               0           0           1.078       0.00     2.35
 2007     1             0           0          16               0           0           0.987       0.00     2.35
 2008     1             0           0          14               0           0           0.916       0.00     2.36
 2009     1             0           0          14               0           0           0.859       0.00     2.35
 2010     1             0           0          13               0           0           0.802       0.00     2.35
 2011     1             0           0          12               0           0           0.750       0.00     2.35
 2012     1             0           0          11               0           0           0.712       0.00     2.35
 2013     1             0           0          34               0           0           2.057       0.00     2.36
 2014     1             0           0          28               0           0           1.782       0.00     2.36
 2015     1             0           0          19               0           0           1.153       0.00     2.36
 2016     1             0           0          13               0           0           0.810       0.00     2.35

 SUB-TOTAL              0           0         259               0           0          16.142       0.00     2.36
 REMAINDER              0           0           0               0           0           0.022       0.00     2.35
 TOTAL                  0           0         259               0           0          16.164       0.00     2.36


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0         3,912            0         3,912           0         117         3,795
 2004                0           0         3,239            0         3,239           0          98         3,141
 2005                0           0         2,825            0         2,825           0          84         2,741
 2006                0           0         2,538            0         2,538           0          76         2,462
 2007                0           0         2,325            0         2,325           0          70         2,255
 2008                0           0         2,158            0         2,158           0          65         2,093
 2009                0           0         2,022            0         2,022           0          61         1,961
 2010                0           0         1,889            0         1,889           0          56         1,833
 2011                0           0         1,766            0         1,766           0          53         1,713
 2012                0           0         1,677            0         1,677           0          51         1,626
 2013                0           0         4,844            0         4,844           0         145         4,699
 2014                0           0         4,196            0         4,196           0         126         4,070
 2015                0           0         2,717            0         2,717           0          82         2,635
 2016                0           0         1,908            0         1,908           0          57         1,851

 SUB-TOT             0           0        38,016            0        38,016           0       1,141        36,875
 REMAIN              0           0            51            0            51           0           1            50
 TOTAL               0           0        38,067            0        38,067           0       1,142        36,925





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0          3,795         3,795         3,276
 2004              0           0           0           0             0          3,141         6,936         2,453
 2005              0           0           0           0             0          2,741         9,677         1,937
 2006              0           0           0           0             0          2,462        12,139         1,574
 2007              0           0           0           0             0          2,255        14,394         1,306
 2008              0           0           0           0             0          2,093        16,487         1,097
 2009              0           0           0           0             0          1,961        18,448           930
 2010              0           0           0           0             0          1,833        20,281           787
 2011              0           0           0           0             0          1,713        21,994           665
 2012              0           0           0           0             0          1,626        23,620           572
 2013              0           0           0           0             0          4,699        28,319         1,481
 2014              0           0           0           0             0          4,070        32,389         1,177
 2015              0           0           0           0             0          2,635        35,024           690
 2016              0           0           0           0             0          1,851        36,875           438

 SUBTOT            0           0           0           0             0         36,875                      18,383
 REMAIN            0           0           0           0             0             50        36,925            11
 TOTAL             0           0           0           0             0         36,925                      18,394


   LIFE OF SUMMARY IS 15.03 YEARS.


                             TENGASCO, INC.                              TABLE 8
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GRAND SUMMARY

                                                                                       PROBABLE
     TOTAL PROPERTIES                                                                  UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -       651,021
 FINAL   -                                                                                 10.00% -       409,536
 REMARKS -                                                                                 15.00% -       258,072
                                                                                           20.00% -       160,101
                                                                                           25.00% -        95,248




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,129           0           0           2,321           0           0.000      17.24     0.00
 2003     1         3,790           0           0           2,811           0           0.000      17.24     0.00
 2004     1         3,374           0           0           2,504           0           0.000      17.24     0.00
 2005     3         3,165           0         119           2,347           0         104.003      17.24     2.35
 2006     5         2,969           0         181           2,202           0         158.536      17.24     2.35
 2007     5         2,783           0         128           2,065           0         111.863      17.24     2.36
 2008     5         2,611           0          88           1,937           0          76.008      17.24     2.35
 2009     5         2,449           0          60           1,816           0          54.089      17.24     2.36
 2010     5         2,296           0          50           1,704           0          43.825      17.24     2.35
 2011     5         2,154           0          48           1,597           0          41.477      17.24     2.35
 2012     5         2,020           0          45           1,499           0          39.040      17.24     2.36
 2013     5         1,894           0          40           1,405           0          35.440      17.24     2.35
 2014     5         1,777           0          36           1,318           0          32.324      17.24     2.35
 2015     5         1,666           0          34           1,236           0          29.608      17.24     2.36
 2016     5         1,563           0          32           1,159           0          27.225      17.24     2.35

 SUB-TOTAL         37,640           0         861          27,921           0         753.438      17.24     2.35
 REMAINDER          2,729           0         158           2,025           0         138.187      17.24     2.36
 TOTAL             40,369           0       1,019          29,946           0         891.625      17.24     2.35


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002           40,013           0             0            0        40,013       1,733           0        38,280
 2003           48,469           0             0            0        48,469       2,098           0        46,371
 2004           43,157           0             0            0        43,157       1,869           0        41,288
 2005           40,475           0       244,927            0       285,402       1,753       7,348       276,301
 2006           37,959           0       373,352            0       411,311       1,643      11,200       398,468
 2007           35,601           0       263,437            0       299,038       1,542       7,903       289,593
 2008           33,389           0       178,999            0       212,388       1,445       5,371       205,572
 2009           31,314           0       127,380            0       158,694       1,356       3,821       153,517
 2010           29,368           0       103,208            0       132,576       1,272       3,097       128,207
 2011           27,543           0        97,679            0       125,222       1,193       2,930       121,099
 2012           25,832           0        91,938            0       117,770       1,118       2,758       113,894
 2013           24,226           0        83,462            0       107,688       1,049       2,504       104,135
 2014           22,721           0        76,124            0        98,845         984       2,283        95,578
 2015           21,309           0        69,726            0        91,035         923       2,092        88,020
 2016           19,985           0        64,116            0        84,101         865       1,924        81,312

 SUB-TOT       481,361           0     1,774,348            0     2,255,709      20,843      53,231     2,181,635
 REMAIN         34,900           0       325,428            0       360,328       1,511       9,762       349,055
 TOTAL         516,261           0     2,099,776            0     2,616,037      22,354      62,993     2,530,690






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                 
 2002          8,180           0      91,563           0        99,743        -61,463       -61,463       -58,753
 2003         16,361           0           0           0        16,361         30,010       -31,453        25,956
 2004         16,360           0           0           0        16,360         24,928        -6,525        19,459
 2005         26,361           0     400,000           0       426,361       -150,060      -156,585      -114,746
 2006         42,760           0     200,000           0       242,760        155,708          -877        95,808
 2007         45,161           0           0           0        45,161        244,432       243,555       141,918
 2008         45,160           0           0           0        45,160        160,412       403,967        84,280
 2009         45,161           0           0           0        45,161        108,356       512,323        51,526
 2010         45,160           0           0           0        45,160         83,047       595,370        35,652
 2011         45,161           0           0           0        45,161         75,938       671,308        29,490
 2012         45,160           0           0           0        45,160         68,734       740,042        24,198
 2013         45,160           0           0           0        45,160         58,975       799,017        18,794
 2014         45,161           0           0           0        45,161         50,417       849,434        14,546
 2015         45,160           0           0           0        45,160         42,860       892,294        11,192
 2016         45,161           0           0           0        45,161         36,151       928,445         8,547

 SUBTOT      561,627           0     691,563           0     1,253,190        928,445                     387,867
 REMAIN      226,061           0           0           0       226,061        122,994     1,051,439        21,669
 TOTAL       787,688           0     691,563           0     1,479,251      1,051,439                     409,536


   LIFE OF SUMMARY IS 22.26 YEARS.


                             TENGASCO, INC.                              TABLE 9
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE

 GRAND SUMMARY


                                                                                       TOTAL POSSIBLE
     TOTAL PROPERTIES                                                                  UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -             0
 FINAL   -                                                                                 10.00% -             0
 REMARKS - POSSIBLE UNDEVELOPED RESERVES ARE UNECONOMIC AT CURRENT PRICES.                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00


 CUMULATIVE
 ULTIMATE



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF SUMMARY IS 0.00 YEARS.


                             TENGASCO, INC.                             TABLE 10
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       TOTAL PROVED
     KANSAS PROPERTIES                                                                 ALL CATEGORIES


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -     3,133,938
 FINAL   -                                                                                 10.00% -     2,431,317
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -     1,975,928
                                                                                           20.00% -     1,656,564
                                                                                           25.00% -     1,419,896




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002   169       120,110           0         324          98,144           0         249.151      17.24     2.13
 2003   155       108,636           0         354          88,526           0         272.693      17.24     2.13
 2004   150        93,727           0         311          76,280           0         240.246      17.24     2.13
 2005   139        83,129           0         304          67,631           0         236.053      17.24     2.13
 2006   133        74,550           0         254          60,616           0         195.208      17.24     2.13
 2007   113        64,875           0         226          52,696           0         171.635      17.24     2.13
 2008   110        61,313           0         193          49,797           0         149.672      17.24     2.13
 2009   105        55,823           0         168          45,255           0         130.909      17.24     2.13
 2010   100        53,192           0         163          43,072           0         121.877      17.24     2.13
 2011    95        48,924           0         146          39,486           0         112.711      17.24     2.13
 2012    92        43,399           0         138          34,924           0         107.206      17.24     2.13
 2013    82        39,000           0         133          31,417           0          98.803      17.24     2.13
 2014    76        31,941           0         108          25,636           0          82.163      17.24     2.13
 2015    72        27,127           0         103          21,640           0          78.757      17.24     2.13
 2016    66        23,743           0          96          18,862           0          70.849      17.24     2.13

 SUB-TOTAL        929,489           0       3,021         753,982           0       2,317.933      17.24     2.13
 REMAINDER         97,872           0         723          77,948           0         555.940      17.24     2.13
 TOTAL          1,027,361           0       3,744         831,930           0       2,873.873      17.24     2.13

 CUMULATIVE     6,786,199           0      23,695
 ULTIMATE       7,813,560           0      27,439




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002        1,691,960           0       530,692            0     2,222,652      72,812      22,359     2,127,481
 2003        1,526,160           0       580,835            0     2,106,995      65,621      24,511     2,016,863
 2004        1,315,146           0       511,724            0     1,826,870      56,509      21,551     1,748,810
 2005        1,165,921           0       502,795            0     1,668,716      50,209      21,196     1,597,311
 2006        1,045,067           0       415,791            0     1,460,858      45,249      17,449     1,398,160
 2007          908,467           0       365,582            0     1,274,049      39,338      15,304     1,219,407
 2008          858,481           0       318,799            0     1,177,280      37,172      13,377     1,126,731
 2009          780,173           0       278,834            0     1,059,007      33,779      11,748     1,013,480
 2010          742,563           0       259,601            0     1,002,164      32,157      10,931       959,076
 2011          680,759           0       240,075            0       920,834      29,477      10,102       881,255
 2012          602,155           0       228,352            0       830,507      26,074       9,613       794,820
 2013          541,610           0       210,447            0       752,057      23,448       8,847       719,762
 2014          441,887           0       175,009            0       616,896      19,133       7,326       590,437
 2015          373,066           0       167,750            0       540,816      16,156       7,026       517,634
 2016          325,182           0       150,909            0       476,091      14,080       6,308       455,703

 SUB-TOT    12,998,597           0     4,937,195            0    17,935,792     561,214     207,648    17,166,930
 REMAIN      1,343,852           0     1,184,153            0     2,528,005      58,187      50,141     2,419,677
 TOTAL      14,342,449           0     6,121,348            0    20,463,797     619,401     257,789    19,586,607





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002      1,401,397           0     505,440           0     1,906,837        220,644       220,644       209,645
 2003      1,338,968           0      29,750           0     1,368,718        648,145       868,789       559,151
 2004      1,244,134           0           0           0     1,244,134        504,676     1,373,465       394,403
 2005      1,168,723           0      12,000           0     1,180,723        416,588     1,790,053       294,544
 2006      1,080,944           0           0           0     1,080,944        317,216     2,107,269       203,207
 2007        981,952           0           0           0       981,952        237,455     2,344,724       137,703
 2008        859,208           0           0           0       859,208        267,523     2,612,247       140,374
 2009        817,658           0           0           0       817,658        195,822     2,808,069        93,091
 2010        787,382           0      11,213           0       798,595        160,481     2,968,550        68,915
 2011        716,787           0           0           0       716,787        164,468     3,133,018        64,026
 2012        640,679           0           0           0       640,679        154,141     3,287,159        54,308
 2013        573,100           0           0           0       573,100        146,662     3,433,821        46,854
 2014        455,337           0           0           0       455,337        135,100     3,568,921        38,988
 2015        399,418           0           0           0       399,418        118,216     3,687,137        30,888
 2016        360,884           0           0           0       360,884         94,819     3,781,956        22,424

 SUBTOT   12,826,571           0     558,403           0    13,384,974      3,781,956                   2,358,521
 REMAIN    1,851,223           0           0           0     1,851,223        568,454     4,350,410        72,796
 TOTAL    14,677,794           0     558,403           0    15,236,197      4,350,410                   2,431,317


   LIFE OF SUMMARY IS 38.33 YEARS.


                                  TENGASCO, INC.                        TABLE 11
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       PROVED
     KANSAS PROPERTIES                                                                 PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -     2,489,150
 FINAL   -                                                                                 10.00% -     1,998,132
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -     1,684,339
                                                                                           20.00% -     1,464,910
                                                                                           25.00% -     1,301,441




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002   161       104,686           0         302          85,237           0         232.073      17.24     2.13
 2003   146        89,861           0         278          73,271           0         212.446      17.24     2.13
 2004   141        77,559           0         258          63,185           0         197.885      17.24     2.13
 2005   130        68,242           0         238          55,586           0         183.994      17.24     2.13
 2006   125        61,081           0         210          49,749           0         158.058      17.24     2.13
 2007   106        52,268           0         186          42,521           0         141.196      17.24     2.13
 2008   103        49,508           0         160          40,267           0         123.203      17.24     2.13
 2009    98        44,765           0         148          36,327           0         114.076      17.24     2.13
 2010    93        42,187           0         147          34,212           0         108.931      17.24     2.13
 2011    88        38,246           0         131          30,903           0         100.980      17.24     2.13
 2012    85        33,322           0         125          26,826           0          96.557      17.24     2.13
 2013    75        29,806           0         124          24,015           0          91.526      17.24     2.13
 2014    69        23,907           0         102          19,146           0          77.550      17.24     2.13
 2015    65        19,583           0          98          15,545           0          74.378      17.24     2.13
 2016    59        16,654           0          91          13,134           0          66.693      17.24     2.13

 SUB-TOTAL        751,675           0       2,598         609,924           0       1,979.546      17.24     2.13
 REMAINDER         60,583           0         697          47,849           0         535.077      17.24     2.13
 TOTAL            812,258           0       3,295         657,773           0       2,514.623      17.24     2.13

 CUMULATIVE     6,786,199           0      23,695
 ULTIMATE       7,598,457           0      26,990




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002        1,469,436           0       494,317            0     1,963,753      63,627      21,212     1,878,914
 2003        1,263,162           0       452,508            0     1,715,670      54,696      19,399     1,641,575
 2004        1,089,397           0       421,495            0     1,510,892      47,169      18,066     1,445,657
 2005          958,291           0       391,911            0     1,350,202      41,494      16,796     1,291,912
 2006          857,694           0       336,661            0     1,194,355      37,136      14,403     1,142,816
 2007          733,054           0       300,748            0     1,033,802      31,743      12,857       989,202
 2008          694,195           0       262,419            0       956,614      30,059      11,278       915,277
 2009          626,243           0       242,980            0       869,223      27,112      10,521       831,590
 2010          589,820           0       232,026            0       821,846      25,544      10,046       786,256
 2011          532,770           0       215,088            0       747,858      23,069       9,312       715,477
 2012          462,533           0       205,670            0       668,203      20,028       8,909       639,266
 2013          414,016           0       194,949            0       608,965      17,923       8,441       582,601
 2014          330,022           0       165,183            0       495,205      14,289       7,151       473,765
 2015          267,984           0       158,423            0       426,407      11,607       6,860       407,940
 2016          226,428           0       142,056            0       368,484       9,804       6,150       352,530

 SUB-TOT    10,515,045           0     4,216,434            0    14,731,479     455,300     181,401    14,094,778
 REMAIN        824,940           0     1,139,714            0     1,964,654      35,718      49,350     1,879,586
 TOTAL      11,339,985           0     5,356,148            0    16,696,133     491,018     230,751    15,974,364





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002      1,343,301           0           0           0     1,343,301        535,613       535,613       511,289
 2003      1,186,630           0           0           0     1,186,630        454,945       990,558       392,775
 2004      1,091,797           0           0           0     1,091,797        353,860     1,344,418       276,554
 2005      1,019,985           0           0           0     1,019,985        271,927     1,616,345       192,420
 2006        954,407           0           0           0       954,407        188,409     1,804,754       120,730
 2007        855,414           0           0           0       855,414        133,788     1,938,542        77,641
 2008        747,671           0           0           0       747,671        167,606     2,106,148        87,963
 2009        706,120           0           0           0       706,120        125,470     2,231,618        59,631
 2010        685,845           0           0           0       685,845        100,411     2,332,029        43,215
 2011        615,249           0           0           0       615,249        100,228     2,432,257        39,037
 2012        539,142           0           0           0       539,142        100,124     2,532,381        35,288
 2013        481,562           0           0           0       481,562        101,039     2,633,420        32,230
 2014        373,799           0           0           0       373,799         99,966     2,733,386        28,849
 2015        317,880           0           0           0       317,880         90,060     2,823,446        23,529
 2016        279,347           0           0           0       279,347         73,183     2,896,629        17,306

 SUBTOT   11,198,149           0           0           0    11,198,149      2,896,629                   1,938,457
 REMAIN    1,413,284           0           0           0     1,413,284        466,302     3,362,931        59,675
 TOTAL    12,611,433           0           0           0    12,611,433      3,362,931                   1,998,132


   LIFE OF SUMMARY IS 38.33 YEARS.


                                 TENGASCO, INC.                         TABLE 12
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       PROVED
     KANSAS PROPERTIES                                                                 SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -        82,794
 FINAL   -                                                                                 10.00% -        65,490
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -        53,747
                                                                                           20.00% -        45,400
                                                                                           25.00% -        39,224




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2           802           0          10             702           0           7.886      17.24     2.13
 2003     2           825           0          10             721           0           8.184      17.24     2.13
 2004     2           775           0          10             679           0           7.768      17.24     2.13
 2005     2           490           0           9             429           0           7.374      17.24     2.13
 2006     1             0           0           8               0           0           6.999       0.00     2.13
 2007     1             0           0           9               0           0           6.644       0.00     2.13
 2008     1             0           0           8               0           0           6.307       0.00     2.13
 2009     1             0           0           7               0           0           5.986       0.00     2.13
 2010     1             0           0           7               0           0           5.682       0.00     2.13
 2011     1             0           0           7               0           0           5.394       0.00     2.13
 2012     1             0           0           6               0           0           5.120       0.00     2.13
 2013     1             0           0           6               0           0           4.860       0.00     2.13
 2014     1             0           0           6               0           0           4.613       0.00     2.13
 2015     1             0           0           5               0           0           4.379       0.00     2.13
 2016     1             0           0           5               0           0           4.156       0.00     2.13

 SUB-TOTAL          2,892           0         113           2,531           0          91.352      17.24     2.13
 REMAINDER              0           0          26               0           0          20.863       0.00     2.13
 TOTAL              2,892           0         139           2,531           0         112.215      17.24     2.13

 CUMULATIVE             0           0           0
 ULTIMATE           2,892           0         139




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,099           0        16,797            0        28,896          74         299        28,523
 2003           12,439           0        17,432            0        29,871          76         310        29,485
 2004           11,693           0        16,546            0        28,239          71         295        27,873
 2005            7,402           0        15,706            0        23,108          45         279        22,784
 2006                0           0        14,909            0        14,909           0         266        14,643
 2007                0           0        14,151            0        14,151           0         252        13,899
 2008                0           0        13,433            0        13,433           0         239        13,194
 2009                0           0        12,751            0        12,751           0         227        12,524
 2010                0           0        12,103            0        12,103           0         215        11,888
 2011                0           0        11,489            0        11,489           0         205        11,284
 2012                0           0        10,906            0        10,906           0         194        10,712
 2013                0           0        10,351            0        10,351           0         184        10,167
 2014                0           0         9,826            0         9,826           0         175         9,651
 2015                0           0         9,327            0         9,327           0         166         9,161
 2016                0           0         8,853            0         8,853           0         158         8,695

 SUB-TOT        43,633           0       194,580            0       238,213         266       3,464       234,483
 REMAIN              0           0        44,439            0        44,439           0         791        43,648
 TOTAL          43,633           0       239,019            0       282,652         266       4,255       278,131





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,587           0           0           0        15,587         12,936        12,936        12,271
 2003         17,004           0           0           0        17,004         12,481        25,417        10,766
 2004         17,004           0           0           0        17,004         10,869        36,286         8,487
 2005         13,404           0           0           0        13,404          9,380        45,666         6,630
 2006          6,204           0           0           0         6,204          8,439        54,105         5,397
 2007          6,204           0           0           0         6,204          7,695        61,800         4,455
 2008          6,204           0           0           0         6,204          6,990        68,790         3,664
 2009          6,204           0           0           0         6,204          6,320        75,110         2,998
 2010          6,204           0           0           0         6,204          5,684        80,794         2,441
 2011          6,204           0           0           0         6,204          5,080        85,874         1,976
 2012          6,204           0           0           0         6,204          4,508        90,382         1,586
 2013          6,204           0           0           0         6,204          3,963        94,345         1,263
 2014          6,204           0           0           0         6,204          3,447        97,792           994
 2015          6,204           0           0           0         6,204          2,957       100,749           773
 2016          6,204           0           0           0         6,204          2,491       103,240           588

 SUBTOT      131,243           0           0           0       131,243        103,240                      64,289
 REMAIN       37,224           0           0           0        37,224          6,424       109,664         1,201
 TOTAL       168,467           0           0           0       168,467        109,664                      65,490


   LIFE OF SUMMARY IS 21.00 YEARS.


                             TENGASCO, INC.                            TABLE 13
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       PROVED
     KANSAS PROPERTIES                                                                 BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -       341,658
 FINAL   -                                                                                 10.00% -       272,009
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -       220,802
                                                                                           20.00% -       182,222
                                                                                           25.00% -       152,517




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          12               0           0           9.191       0.00     2.13
 2003     2         3,446           0          66           2,330           0          52.063      17.24     2.13
 2004     2         3,157           0          43           2,134           0          34.593      17.24     2.13
 2005     2         2,892           0          57           1,955           0          44.684      17.24     2.13
 2006     2         2,648           0          36           1,790           0          30.151      17.24     2.13
 2007     1         2,426           0          31           1,640           0          23.795      17.24     2.13
 2008     1         2,222           0          25           1,502           0          20.162      17.24     2.13
 2009     1         2,035           0          13           1,376           0          10.847      17.24     2.13
 2010     1         2,504           0           9           1,751           0           7.264      17.24     2.13
 2011     1         2,667           0           8           1,889           0           6.337      17.24     2.13
 2012     1         2,524           0           7           1,793           0           5.529      17.24     2.13
 2013     1         2,072           0           3           1,459           0           2.416      17.24     2.13
 2014     1         1,312           0           0             887           0           0.000      17.24     0.00
 2015     1         1,202           0           0             813           0           0.000      17.24     0.00
 2016     1         1,100           0           0             744           0           0.000      17.24     0.00

 SUB-TOTAL         32,207           0         310          22,063           0         247.032      17.24     2.13
 REMAINDER          1,480           0           0           1,000           0           0.000      17.24     0.00
 TOTAL             33,687           0         310          23,063           0         247.032      17.24     2.13

 CUMULATIVE             0           0           0
 ULTIMATE          33,687           0         310




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        19,578            0        19,578           0         848        18,730
 2003           40,168           0       110,895            0       151,063       1,739       4,802       144,522
 2004           36,791           0        73,683            0       110,474       1,593       3,190       105,691
 2005           33,698           0        95,178            0       128,876       1,459       4,121       123,296
 2006           30,866           0        64,221            0        95,087       1,337       2,780        90,970
 2007           28,271           0        50,683            0        78,954       1,224       2,195        75,535
 2008           25,895           0        42,947            0        68,842       1,121       1,860        65,861
 2009           23,718           0        23,103            0        46,821       1,027       1,000        44,794
 2010           30,181           0        15,472            0        45,653       1,307         670        43,676
 2011           32,584           0        13,498            0        46,082       1,411         585        44,086
 2012           30,911           0        11,776            0        42,687       1,339         510        40,838
 2013           25,151           0         5,147            0        30,298       1,089         222        28,987
 2014           15,290           0             0            0        15,290         662           0        14,628
 2015           14,005           0             0            0        14,005         606           0        13,399
 2016           12,828           0             0            0        12,828         555           0        12,273

 SUB-TOT       380,357           0       526,181            0       906,538      16,469      22,783       867,286
 REMAIN         17,248           0             0            0        17,248         747           0        16,501
 TOTAL         397,605           0       526,181            0       923,786      17,216      22,783       883,787






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0      12,000           0        12,000          6,730         6,730         6,031
 2003         50,316           0      29,750           0        80,066         64,456        71,186        54,749
 2004         50,315           0           0           0        50,315         55,376       126,562        43,334
 2005         50,316           0      12,000           0        62,316         60,980       187,542        42,981
 2006         35,315           0           0           0        35,315         55,655       243,197        35,673
 2007         35,316           0           0           0        35,316         40,219       283,416        23,313
 2008         20,315           0           0           0        20,315         45,546       328,962        23,902
 2009         20,316           0           0           0        20,316         24,478       353,440        11,682
 2010         20,315           0      11,213           0        31,528         12,148       365,588         5,109
 2011         20,316           0           0           0        20,316         23,770       389,358         9,245
 2012         20,315           0           0           0        20,315         20,523       409,881         7,225
 2013         10,316           0           0           0        10,316         18,671       428,552         6,028
 2014         10,315           0           0           0        10,315          4,313       432,865         1,246
 2015         10,316           0           0           0        10,316          3,083       435,948           807
 2016         10,315           0           0           0        10,315          1,958       437,906           464

 SUBTOT      364,417           0      64,963           0       429,380        437,906                     271,789
 REMAIN       15,473           0           0           0        15,473          1,028       438,934           220
 TOTAL       379,890           0      64,963           0       444,853        438,934                     272,009


   LIFE OF SUMMARY IS 16.50 YEARS.


                                  TENGASCO, INC.                        TABLE 14
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       PROVED
     KANSAS PROPERTIES                                                                 UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -       220,336
 FINAL   -                                                                                 10.00% -        95,686
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -        17,040
                                                                                           20.00% -       -35,968
                                                                                           25.00% -       -73,286




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     5        14,622           0           0          12,205           0           0.000      17.24     0.00
 2003     5        14,504           0           0          12,204           0           0.000      17.24     0.00
 2004     5        12,236           0           0          10,282           0           0.000      17.24     0.00
 2005     5        11,505           0           0           9,661           0           0.000      17.24     0.00
 2006     5        10,821           0           0           9,077           0           0.000      17.24     0.00
 2007     5        10,181           0           0           8,535           0           0.000      17.24     0.00
 2008     5         9,583           0           0           8,028           0           0.000      17.24     0.00
 2009     5         9,023           0           0           7,552           0           0.000      17.24     0.00
 2010     5         8,501           0           0           7,109           0           0.000      17.24     0.00
 2011     5         8,011           0           0           6,694           0           0.000      17.24     0.00
 2012     5         7,553           0           0           6,305           0           0.000      17.24     0.00
 2013     5         7,122           0           0           5,943           0           0.000      17.24     0.00
 2014     5         6,722           0           0           5,603           0           0.000      17.24     0.00
 2015     5         6,342           0           0           5,282           0           0.000      17.24     0.00
 2016     5         5,989           0           0           4,984           0           0.000      17.24     0.00

 SUB-TOTAL        142,715           0           0         119,464           0           0.000      17.24     0.00
 REMAINDER         35,809           0           0          29,099           0           0.000      17.24     0.00
 TOTAL            178,524           0           0         148,563           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE         178,524           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002          210,425           0             0            0       210,425       9,111           0       201,314
 2003          210,391           0             0            0       210,391       9,110           0       201,281
 2004          177,265           0             0            0       177,265       7,676           0       169,589
 2005          166,530           0             0            0       166,530       7,211           0       159,319
 2006          156,507           0             0            0       156,507       6,776           0       149,731
 2007          147,142           0             0            0       147,142       6,371           0       140,771
 2008          138,391           0             0            0       138,391       5,992           0       132,399
 2009          130,212           0             0            0       130,212       5,640           0       124,572
 2010          122,562           0             0            0       122,562       5,306           0       117,256
 2011          115,405           0             0            0       115,405       4,997           0       110,408
 2012          108,711           0             0            0       108,711       4,707           0       104,004
 2013          102,443           0             0            0       102,443       4,436           0        98,007
 2014           96,575           0             0            0        96,575       4,182           0        92,393
 2015           91,077           0             0            0        91,077       3,943           0        87,134
 2016           85,926           0             0            0        85,926       3,721           0        82,205

 SUB-TOT     2,059,562           0             0            0     2,059,562      89,179           0     1,970,383
 REMAIN        501,664           0             0            0       501,664      21,722           0       479,942
 TOTAL       2,561,226           0             0            0     2,561,226     110,901           0     2,450,325





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002         42,509           0     493,440           0       535,949       -334,635      -334,635      -319,946
 2003         85,018           0           0           0        85,018        116,263      -218,372       100,861
 2004         85,018           0           0           0        85,018         84,571      -133,801        66,028
 2005         85,018           0           0           0        85,018         74,301       -59,500        52,513
 2006         85,018           0           0           0        85,018         64,713         5,213        41,407
 2007         85,018           0           0           0        85,018         55,753        60,966        32,294
 2008         85,018           0           0           0        85,018         47,381       108,347        24,845
 2009         85,018           0           0           0        85,018         39,554       147,901        18,780
 2010         75,018           0           0           0        75,018         42,238       190,139        18,150
 2011         75,018           0           0           0        75,018         35,390       225,529        13,768
 2012         75,018           0           0           0        75,018         28,986       254,515        10,209
 2013         75,018           0           0           0        75,018         22,989       277,504         7,333
 2014         65,019           0           0           0        65,019         27,374       304,878         7,899
 2015         65,018           0           0           0        65,018         22,116       326,994         5,779
 2016         65,018           0           0           0        65,018         17,187       344,181         4,066

 SUBTOT    1,132,762           0     493,440           0     1,626,202        344,181                      83,986
 REMAIN      385,242           0           0           0       385,242         94,700       438,881        11,700
 TOTAL     1,518,004           0     493,440           0     2,011,444        438,881                      95,686


   LIFE OF SUMMARY IS 32.82 YEARS.



                             TENGASCO, INC.                            TABLE 15
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 STATE SUMMARY
                                                                                       TOTAL PROBABLE
     KANSAS PROPERTIES                                                                 UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -                                                                                  5.00% -        88,576
 FINAL   -                                                                                 10.00% -        57,831
 REMARKS - AD VALOREM TAXES ARE INCLUDED IN OPERATING COSTS.                               15.00% -        36,280
                                                                                           20.00% -        20,767
                                                                                           25.00% -         9,340




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF      OIL/COND.      PLANT PROD.    GAS        OIL/COND.    PLANT PROD.        GAS      OIL/COND.   GAS
  PD  WELLS       BARRELS        BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.   $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,129           0           0           2,321           0           0.000      17.24     0.00
 2003     1         3,790           0           0           2,811           0           0.000      17.24     0.00
 2004     1         3,374           0           0           2,504           0           0.000      17.24     0.00
 2005     1         3,165           0           0           2,347           0           0.000      17.24     0.00
 2006     1         2,969           0           0           2,202           0           0.000      17.24     0.00
 2007     1         2,783           0           0           2,065           0           0.000      17.24     0.00
 2008     1         2,611           0           0           1,937           0           0.000      17.24     0.00
 2009     1         2,449           0           0           1,816           0           0.000      17.24     0.00
 2010     1         2,296           0           0           1,704           0           0.000      17.24     0.00
 2011     1         2,154           0           0           1,597           0           0.000      17.24     0.00
 2012     1         2,020           0           0           1,499           0           0.000      17.24     0.00
 2013     1         1,894           0           0           1,405           0           0.000      17.24     0.00
 2014     1         1,777           0           0           1,318           0           0.000      17.24     0.00
 2015     1         1,666           0           0           1,236           0           0.000      17.24     0.00
 2016     1         1,563           0           0           1,159           0           0.000      17.24     0.00

 SUB-TOTAL         37,640           0           0          27,921           0           0.000      17.24     0.00
 REMAINDER          2,729           0           0           2,025           0           0.000      17.24     0.00
 TOTAL             40,369           0           0          29,946           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          40,369           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           40,013           0             0            0        40,013       1,733           0        38,280
 2003           48,469           0             0            0        48,469       2,098           0        46,371
 2004           43,157           0             0            0        43,157       1,869           0        41,288
 2005           40,475           0             0            0        40,475       1,753           0        38,722
 2006           37,959           0             0            0        37,959       1,643           0        36,316
 2007           35,601           0             0            0        35,601       1,542           0        34,059
 2008           33,389           0             0            0        33,389       1,445           0        31,944
 2009           31,314           0             0            0        31,314       1,356           0        29,958
 2010           29,368           0             0            0        29,368       1,272           0        28,096
 2011           27,543           0             0            0        27,543       1,193           0        26,350
 2012           25,832           0             0            0        25,832       1,118           0        24,714
 2013           24,226           0             0            0        24,226       1,049           0        23,177
 2014           22,721           0             0            0        22,721         984           0        21,737
 2015           21,309           0             0            0        21,309         923           0        20,386
 2016           19,985           0             0            0        19,985         865           0        19,120

 SUB-TOT       481,361           0             0            0       481,361      20,843           0       460,518
 REMAIN         34,900           0             0            0        34,900       1,511           0        33,389
 TOTAL         516,261           0             0            0       516,261      22,354           0       493,907





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          8,180           0      91,563           0        99,743        -61,463       -61,463       -58,753
 2003         16,361           0           0           0        16,361         30,010       -31,453        25,956
 2004         16,360           0           0           0        16,360         24,928        -6,525        19,459
 2005         16,361           0           0           0        16,361         22,361        15,836        15,801
 2006         16,360           0           0           0        16,360         19,956        35,792        12,766
 2007         16,361           0           0           0        16,361         17,698        53,490        10,249
 2008         16,360           0           0           0        16,360         15,584        69,074         8,169
 2009         16,361           0           0           0        16,361         13,597        82,671         6,453
 2010         16,360           0           0           0        16,360         11,736        94,407         5,043
 2011         16,361           0           0           0        16,361          9,989       104,396         3,885
 2012         16,360           0           0           0        16,360          8,354       112,750         2,942
 2013         16,360           0           0           0        16,360          6,817       119,567         2,174
 2014         16,361           0           0           0        16,361          5,376       124,943         1,552
 2015         16,360           0           0           0        16,360          4,026       128,969         1,053
 2016         16,361           0           0           0        16,361          2,759       131,728           653

 SUBTOT      237,227           0      91,563           0       328,790        131,728                      57,402
 REMAIN       31,357           0           0           0        31,357          2,032       133,760           429
 TOTAL       268,584           0      91,563           0       360,147        133,760                      57,831


   LIFE OF SUMMARY IS 16.92 YEARS.


                             TENGASCO, INC.                             TABLE 16
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 ARPIN SOUTH FIELD, ROOKS COUNTY, KANSAS                                               OIL LEASE
   TENGASCO, INC. - OPERATOR   8-T9S-R20W                                              PROVED
     THYFAULT #1   (ARBUCKLE)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -         5,350
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -         5,184
 REMARKS -                                                                                 15.00% -         5,026
                                                                                           20.00% -         4,876
                                                                                           25.00% -         4,734




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,484           0           0           1,217           0           0.000      17.24     0.00
 2003     1         1,270           0           0           1,043           0           0.000      17.24     0.00
 2004     1            99           0           0              80           0           0.000      17.24     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          2,853           0           0           2,340           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              2,853           0           0           2,340           0           0.000      17.24     0.00

 CUMULATIVE        25,118           0           0
 ULTIMATE          27,971           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           20,982           0             0            0        20,982         909           0        20,073
 2003           17,972           0             0            0        17,972         778           0        17,194
 2004            1,394           0             0            0         1,394          60           0         1,334
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        40,348           0             0            0        40,348       1,747           0        38,601
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          40,348           0             0            0        40,348       1,747           0        38,601





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         15,876           0           0           0        15,876          4,197         4,197         4,023
 2003         15,876           0           0           0        15,876          1,318         5,515         1,152
 2004          1,323           0           0           0         1,323             11         5,526             9
 2005              0           0           0           0             0              0         5,526             0
 2006              0           0           0           0             0              0         5,526             0
 2007              0           0           0           0             0              0         5,526             0
 2008              0           0           0           0             0              0         5,526             0
 2009              0           0           0           0             0              0         5,526             0
 2010              0           0           0           0             0              0         5,526             0
 2011              0           0           0           0             0              0         5,526             0
 2012              0           0           0           0             0              0         5,526             0
 2013              0           0           0           0             0              0         5,526             0
 2014              0           0           0           0             0              0         5,526             0
 2015              0           0           0           0             0              0         5,526             0
 2016              0           0           0           0             0              0         5,526             0

 SUBTOT       33,075           0           0           0        33,075          5,526                       5,184
 REMAIN            0           0           0           0             0              0         5,526             0
 TOTAL        33,075           0           0           0        33,075          5,526                       5,184


   LIFE OF EVALUATION IS 2.08 YEARS.
   FINAL PRODUCTION RATE: 99 BBLS/MO


                             TENGASCO, INC.                             TABLE 17
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 ASH CREEK FIELD, BARTON COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   30-T20S-R15W                                            PROVED
     UNRUH #2   (ARBUCKLE)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.812500                                                                       5.00% -             0
 FINAL   -   0.812500                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        29,141           0           0
 ULTIMATE          29,141           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO



                             TENGASCO, INC.                             TABLE 18
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 AXELSON FIELD, ROOKS COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   24-T7S-R19W                                             PROVED
     AXELSON #2   (LANSING)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.792969                         17.24                               5.00% -        73,479
 FINAL   -   1.000000  0.792969                         17.24                              10.00% -        58,854
 REMARKS -                                                                                 15.00% -        48,594
                                                                                           20.00% -        41,139
                                                                                           25.00% -        35,549




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         2,020           0           0           1,602           0           0.000      17.24     0.00
 2003     2         1,953           0           0           1,548           0           0.000      17.24     0.00
 2004     2         1,888           0           0           1,498           0           0.000      17.24     0.00
 2005     2         1,827           0           0           1,448           0           0.000      17.24     0.00
 2006     2         1,766           0           0           1,401           0           0.000      17.24     0.00
 2007     2         1,707           0           0           1,354           0           0.000      17.24     0.00
 2008     2         1,652           0           0           1,309           0           0.000      17.24     0.00
 2009     2         1,597           0           0           1,267           0           0.000      17.24     0.00
 2010     2         1,544           0           0           1,224           0           0.000      17.24     0.00
 2011     2         1,493           0           0           1,184           0           0.000      17.24     0.00
 2012     2         1,444           0           0           1,145           0           0.000      17.24     0.00
 2013     2         1,396           0           0           1,107           0           0.000      17.24     0.00
 2014     2         1,351           0           0           1,071           0           0.000      17.24     0.00
 2015     2         1,305           0           0           1,035           0           0.000      17.24     0.00
 2016     2         1,263           0           0           1,002           0           0.000      17.24     0.00

 SUB-TOTAL         24,206           0           0          19,195           0           0.000      17.24     0.00
 REMAINDER          3,072           0           0           2,436           0           0.000      17.24     0.00
 TOTAL             27,278           0           0          21,631           0           0.000      17.24     0.00

 CUMULATIVE        59,751           0           0
 ULTIMATE          87,029           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           27,611           0             0            0        27,611       1,196           0        26,415
 2003           26,700           0             0            0        26,700       1,156           0        25,544
 2004           25,819           0             0            0        25,819       1,118           0        24,701
 2005           24,967           0             0            0        24,967       1,081           0        23,886
 2006           24,143           0             0            0        24,143       1,045           0        23,098
 2007           23,346           0             0            0        23,346       1,011           0        22,335
 2008           22,576           0             0            0        22,576         978           0        21,598
 2009           21,831           0             0            0        21,831         945           0        20,886
 2010           21,110           0             0            0        21,110         914           0        20,196
 2011           20,414           0             0            0        20,414         884           0        19,530
 2012           19,740           0             0            0        19,740         855           0        18,885
 2013           19,089           0             0            0        19,089         826           0        18,263
 2014           18,459           0             0            0        18,459         799           0        17,660
 2015           17,849           0             0            0        17,849         773           0        17,076
 2016           17,261           0             0            0        17,261         748           0        16,513

 SUB-TOT       330,915           0             0            0       330,915      14,329           0       316,586
 REMAIN         41,999           0             0            0        41,999       1,818           0        40,181
 TOTAL         372,914           0             0            0       372,914      16,147           0       356,767





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         14,880           0           0           0        14,880         11,535        11,535        10,986
 2003         14,880           0           0           0        14,880         10,664        22,199         9,194
 2004         14,880           0           0           0        14,880          9,821        32,020         7,665
 2005         14,880           0           0           0        14,880          9,006        41,026         6,363
 2006         14,880           0           0           0        14,880          8,218        49,244         5,256
 2007         14,880           0           0           0        14,880          7,455        56,699         4,317
 2008         14,880           0           0           0        14,880          6,718        63,417         3,521
 2009         14,880           0           0           0        14,880          6,006        69,423         2,850
 2010         14,880           0           0           0        14,880          5,316        74,739         2,283
 2011         14,880           0           0           0        14,880          4,650        79,389         1,808
 2012         14,880           0           0           0        14,880          4,005        83,394         1,411
 2013         14,880           0           0           0        14,880          3,383        86,777         1,078
 2014         14,880           0           0           0        14,880          2,780        89,557           802
 2015         14,880           0           0           0        14,880          2,196        91,753           574
 2016         14,880           0           0           0        14,880          1,633        93,386           387

 SUBTOT      223,200           0           0           0       223,200         93,386                      58,495
 REMAIN       38,440           0           0           0        38,440          1,741        95,127           359
 TOTAL       261,640           0           0           0       261,640         95,127                      58,854


   LIFE OF EVALUATION IS 17.58 YEARS.
   FINAL PRODUCTION RATE: 95 BBLS/MO



                             TENGASCO, INC.                             TABLE 19
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 BEISEL FIELD, RUSSELL COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   15-T14S-R12W                                            PROVED
     BEISEL #3   (ARBUCKLE)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       166,963           0           0
 ULTIMATE         166,963           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                             TENGASCO, INC.                             TABLE 20
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                              AS OF DECEMBER 31, 2001
                                    SEC CASE



 BEISEL FIELD, RUSSELL COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   15-T14S-R12W                                            PROVED
     BEISEL #9 PUD   (ARBUCKLE)                                                        UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       128,776
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        82,544
 REMARKS -                                                                                 15.00% -        51,268
                                                                                           20.00% -        29,355
                                                                                           25.00% -        13,542




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,765           0           0           1,544           0           0.000      17.24     0.00
 2003     1         3,327           0           0           2,912           0           0.000      17.24     0.00
 2004     1         3,075           0           0           2,690           0           0.000      17.24     0.00
 2005     1         2,842           0           0           2,487           0           0.000      17.24     0.00
 2006     1         2,625           0           0           2,297           0           0.000      17.24     0.00
 2007     1         2,427           0           0           2,123           0           0.000      17.24     0.00
 2008     1         2,242           0           0           1,962           0           0.000      17.24     0.00
 2009     1         2,071           0           0           1,813           0           0.000      17.24     0.00
 2010     1         1,915           0           0           1,675           0           0.000      17.24     0.00
 2011     1         1,769           0           0           1,548           0           0.000      17.24     0.00
 2012     1         1,635           0           0           1,430           0           0.000      17.24     0.00
 2013     1         1,511           0           0           1,322           0           0.000      17.24     0.00
 2014     1         1,396           0           0           1,222           0           0.000      17.24     0.00
 2015     1         1,289           0           0           1,128           0           0.000      17.24     0.00
 2016     1         1,192           0           0           1,043           0           0.000      17.24     0.00

 SUB-TOTAL         31,081           0           0          27,196           0           0.000      17.24     0.00
 REMAINDER          4,733           0           0           4,141           0           0.000      17.24     0.00
 TOTAL             35,814           0           0          31,337           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          35,814           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           26,624           0             0            0        26,624       1,153           0        25,471
 2003           50,196           0             0            0        50,196       2,173           0        48,023
 2004           46,384           0             0            0        46,384       2,009           0        44,375
 2005           42,862           0             0            0        42,862       1,856           0        41,006
 2006           39,608           0             0            0        39,608       1,715           0        37,893
 2007           36,600           0             0            0        36,600       1,584           0        35,016
 2008           33,821           0             0            0        33,821       1,465           0        32,356
 2009           31,254           0             0            0        31,254       1,353           0        29,901
 2010           28,880           0             0            0        28,880       1,251           0        27,629
 2011           26,687           0             0            0        26,687       1,155           0        25,532
 2012           24,661           0             0            0        24,661       1,068           0        23,593
 2013           22,788           0             0            0        22,788         987           0        21,801
 2014           21,058           0             0            0        21,058         912           0        20,146
 2015           19,460           0             0            0        19,460         842           0        18,618
 2016           17,981           0             0            0        17,981         779           0        17,202

 SUB-TOT       468,864           0             0            0       468,864      20,302           0       448,562
 REMAIN         71,387           0             0            0        71,387       3,091           0        68,296
 TOTAL         540,251           0             0            0       540,251      23,393           0       516,858





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          5,562           0     100,000           0       105,562        -80,091       -80,091       -76,267
 2003         11,124           0           0           0        11,124         36,899       -43,192        31,819
 2004         11,124           0           0           0        11,124         33,251        -9,941        25,956
 2005         11,124           0           0           0        11,124         29,882        19,941        21,116
 2006         11,124           0           0           0        11,124         26,769        46,710        17,123
 2007         11,124           0           0           0        11,124         23,892        70,602        13,835
 2008         11,124           0           0           0        11,124         21,232        91,834        11,129
 2009         11,124           0           0           0        11,124         18,777       110,611         8,910
 2010         11,124           0           0           0        11,124         16,505       127,116         7,090
 2011         11,124           0           0           0        11,124         14,408       141,524         5,603
 2012         11,124           0           0           0        11,124         12,469       153,993         4,390
 2013         11,124           0           0           0        11,124         10,677       164,670         3,403
 2014         11,124           0           0           0        11,124          9,022       173,692         2,603
 2015         11,124           0           0           0        11,124          7,494       181,186         1,957
 2016         11,124           0           0           0        11,124          6,078       187,264         1,438

 SUBTOT      161,298           0     100,000           0       261,298        187,264                      80,105
 REMAIN       55,620           0           0           0        55,620         12,676       199,940         2,439
 TOTAL       216,918           0     100,000           0       316,918        199,940                      82,544


   LIFE OF EVALUATION IS 20.00 YEARS.
   FINAL PRODUCTION RATE: 65 BBLS/MO

                             TENGASCO, INC.                             TABLE 21
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 BIELMAN FIELD, ELLIS COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   24-T15S-R18W                                            PROVED
     GRASS #5   (ARBUCKLE)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         6,485
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         6,256
 REMARKS -                                                                                 15.00% -         6,040
                                                                                           20.00% -         5,836
                                                                                           25.00% -         5,643



                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,409           0           0           1,233           0           0.000      17.24     0.00
 2003     1         1,219           0           0           1,066           0           0.000      17.24     0.00
 2004     1           368           0           0             323           0           0.000      17.24     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          2,996           0           0           2,622           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              2,996           0           0           2,622           0           0.000      17.24     0.00

 CUMULATIVE       120,300           0           0
 ULTIMATE         123,296           0           0



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           21,254           0             0            0        21,254         920           0        20,334
 2003           18,384           0             0            0        18,384         796           0        17,588
 2004            5,559           0             0            0         5,559         241           0         5,318
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        45,197           0             0            0        45,197       1,957           0        43,240
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          45,197           0             0            0        45,197       1,957           0        43,240



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         15,648           0           0           0        15,648          4,686         4,686         4,483
 2003         15,648           0           0           0        15,648          1,940         6,626         1,690
 2004          5,216           0           0           0         5,216            102         6,728            83
 2005              0           0           0           0             0              0         6,728             0
 2006              0           0           0           0             0              0         6,728             0
 2007              0           0           0           0             0              0         6,728             0
 2008              0           0           0           0             0              0         6,728             0
 2009              0           0           0           0             0              0         6,728             0
 2010              0           0           0           0             0              0         6,728             0
 2011              0           0           0           0             0              0         6,728             0
 2012              0           0           0           0             0              0         6,728             0
 2013              0           0           0           0             0              0         6,728             0
 2014              0           0           0           0             0              0         6,728             0
 2015              0           0           0           0             0              0         6,728             0
 2016              0           0           0           0             0              0         6,728             0

 SUBTOT       36,512           0           0           0        36,512          6,728                       6,256
 REMAIN            0           0           0           0             0              0         6,728             0
 TOTAL        36,512           0           0           0        36,512          6,728                       6,256

   LIFE OF EVALUATION IS 2.33 YEARS.
   FINAL PRODUCTION RATE: 90 BBLS/MO



                                  TENGASCO, INC.                       TABLE 22
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                              AS OF DECEMBER 31, 2001
                                    SEC CASE



 CARPENTER FIELD, EDWARDS COUNTY, KANSAS                                               OIL LEASE
   TENGASCO, INC. - OPERATOR   1-T24S-R17W                                             PROVED
     HENNING #1   (LNSG-PSLV)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.875000  0.708801                         17.24                               5.00% -         1,017
 FINAL   -   0.875000  0.708801                         17.24                              10.00% -           970
 REMARKS -                                                                                 15.00% -           927
                                                                                           20.00% -           887
                                                                                           25.00% -           850




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           540           0           0             383           0           0.000      17.24     0.00
 2003     1           519           0           0             368           0           0.000      17.24     0.00
 2004     1           498           0           0             353           0           0.000      17.24     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          1,557           0           0           1,104           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              1,557           0           0           1,104           0           0.000      17.24     0.00

 CUMULATIVE        17,168           0           0
 ULTIMATE          18,725           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            6,603           0             0            0         6,603         286           0         6,317
 2003            6,339           0             0            0         6,339         274           0         6,065
 2004            6,085           0             0            0         6,085         264           0         5,821
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        19,027           0             0            0        19,027         824           0        18,203
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          19,027           0             0            0        19,027         824           0        18,203




                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          5,712           0           0           0         5,712            605           605           578
 2003          5,712           0           0           0         5,712            353           958           306
 2004          5,711           0           0           0         5,711            110         1,068            86
 2005              0           0           0           0             0              0         1,068             0
 2006              0           0           0           0             0              0         1,068             0
 2007              0           0           0           0             0              0         1,068             0
 2008              0           0           0           0             0              0         1,068             0
 2009              0           0           0           0             0              0         1,068             0
 2010              0           0           0           0             0              0         1,068             0
 2011              0           0           0           0             0              0         1,068             0
 2012              0           0           0           0             0              0         1,068             0
 2013              0           0           0           0             0              0         1,068             0
 2014              0           0           0           0             0              0         1,068             0
 2015              0           0           0           0             0              0         1,068             0
 2016              0           0           0           0             0              0         1,068             0

 SUBTOT       17,135           0           0           0        17,135          1,068                         970
 REMAIN            0           0           0           0             0              0         1,068             0
 TOTAL        17,135           0           0           0        17,135          1,068                         970


   LIFE OF EVALUATION IS 3.00 YEARS.
   FINAL PRODUCTION RATE: 41 BBLS/MO


                             TENGASCO, INC. TABLE 23
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CARROLL FIELD, BARTON COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   21-T17S-R14W                                            PROVED
     KEENAN -B- #3   (ABCK-KSSC-LNSG)                                                  PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.992754                                                                       5.00% -             0
 FINAL   -   0.992754                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       113,772           0           0
 ULTIMATE         113,772           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO




                             TENGASCO, INC.                             TABLE 24
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CENTERVIEW FIELD, STAFFORD COUNTY, KANSAS                                             OIL LEASE
   TENGASCO, INC. - OPERATOR   21-T24S-R13W                                            PROVED
     BECKERDITE #1   (ARBUCKLE)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937500  0.807495                         17.24                               5.00% -         8,819
 FINAL   -   0.937500  0.807495                         17.24                              10.00% -         8,247
 REMARKS -                                                                                 15.00% -         7,733
                                                                                           20.00% -         7,270
                                                                                           25.00% -         6,851




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,389           0           0           1,122           0           0.000      17.24     0.00
 2003     1         1,307           0           0           1,055           0           0.000      17.24     0.00
 2004     1         1,227           0           0             991           0           0.000      17.24     0.00
 2005     1         1,154           0           0             932           0           0.000      17.24     0.00
 2006     1           461           0           0             372           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          5,538           0           0           4,472           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              5,538           0           0           4,472           0           0.000      17.24     0.00

 CUMULATIVE        26,115           0           0
 ULTIMATE          31,653           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           19,343           0             0            0        19,343         838           0        18,505
 2003           18,183           0             0            0        18,183         787           0        17,396
 2004           17,092           0             0            0        17,092         740           0        16,352
 2005           16,066           0             0            0        16,066         696           0        15,370
 2006            6,407           0             0            0         6,407         277           0         6,130
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        77,091           0             0            0        77,091       3,338           0        73,753
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          77,091           0             0            0        77,091       3,338           0        73,753





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         14,558           0           0           0        14,558          3,947         3,947         3,766
 2003         14,557           0           0           0        14,557          2,839         6,786         2,454
 2004         14,558           0           0           0        14,558          1,794         8,580         1,405
 2005         14,557           0           0           0        14,557            813         9,393           580
 2006          6,066           0           0           0         6,066             64         9,457            42
 2007              0           0           0           0             0              0         9,457             0
 2008              0           0           0           0             0              0         9,457             0
 2009              0           0           0           0             0              0         9,457             0
 2010              0           0           0           0             0              0         9,457             0
 2011              0           0           0           0             0              0         9,457             0
 2012              0           0           0           0             0              0         9,457             0
 2013              0           0           0           0             0              0         9,457             0
 2014              0           0           0           0             0              0         9,457             0
 2015              0           0           0           0             0              0         9,457             0
 2016              0           0           0           0             0              0         9,457             0

 SUBTOT       64,296           0           0           0        64,296          9,457                       8,247
 REMAIN            0           0           0           0             0              0         9,457             0
 TOTAL        64,296           0           0           0        64,296          9,457                       8,247


   LIFE OF EVALUATION IS 4.42 YEARS.
   FINAL PRODUCTION RATE: 91 BBLS/MO


                                 TENGASCO, INC.                        TABLE 25
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CHASE-SILICA FIELD, BARTON COUNTY, KANSAS                                             OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T20S-R11W                                            PROVED
     LANDER #1                                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.915630                                                                       5.00% -             0
 FINAL   -   0.915630                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        22,627           0           0
 ULTIMATE          22,627           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                             TENGASCO, INC.                             TABLE 26
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CHASE-SILICA FIELD, BARTON COUNTY, KANSAS                                             OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T20S-R11W                                            PROBABLE
     LANDER #3 PBUD   (ARBUCKLE)                                                       UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.915630  0.741803                         17.24                               5.00% -        88,576
 FINAL   -   0.915630  0.741803                         17.24                              10.00% -        57,831
 REMARKS -                                                                                 15.00% -        36,280
                                                                                           20.00% -        20,767
                                                                                           25.00% -         9,340




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,129           0           0           2,321           0           0.000      17.24     0.00
 2003     1         3,790           0           0           2,811           0           0.000      17.24     0.00
 2004     1         3,374           0           0           2,504           0           0.000      17.24     0.00
 2005     1         3,165           0           0           2,347           0           0.000      17.24     0.00
 2006     1         2,969           0           0           2,202           0           0.000      17.24     0.00
 2007     1         2,783           0           0           2,065           0           0.000      17.24     0.00
 2008     1         2,611           0           0           1,937           0           0.000      17.24     0.00
 2009     1         2,449           0           0           1,816           0           0.000      17.24     0.00
 2010     1         2,296           0           0           1,704           0           0.000      17.24     0.00
 2011     1         2,154           0           0           1,597           0           0.000      17.24     0.00
 2012     1         2,020           0           0           1,499           0           0.000      17.24     0.00
 2013     1         1,894           0           0           1,405           0           0.000      17.24     0.00
 2014     1         1,777           0           0           1,318           0           0.000      17.24     0.00
 2015     1         1,666           0           0           1,236           0           0.000      17.24     0.00
 2016     1         1,563           0           0           1,159           0           0.000      17.24     0.00

 SUB-TOTAL         37,640           0           0          27,921           0           0.000      17.24     0.00
 REMAINDER          2,729           0           0           2,025           0           0.000      17.24     0.00
 TOTAL             40,369           0           0          29,946           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          40,369           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           40,013           0             0            0        40,013       1,733           0        38,280
 2003           48,469           0             0            0        48,469       2,098           0        46,371
 2004           43,157           0             0            0        43,157       1,869           0        41,288
 2005           40,475           0             0            0        40,475       1,753           0        38,722
 2006           37,959           0             0            0        37,959       1,643           0        36,316
 2007           35,601           0             0            0        35,601       1,542           0        34,059
 2008           33,389           0             0            0        33,389       1,445           0        31,944
 2009           31,314           0             0            0        31,314       1,356           0        29,958
 2010           29,368           0             0            0        29,368       1,272           0        28,096
 2011           27,543           0             0            0        27,543       1,193           0        26,350
 2012           25,832           0             0            0        25,832       1,118           0        24,714
 2013           24,226           0             0            0        24,226       1,049           0        23,177
 2014           22,721           0             0            0        22,721         984           0        21,737
 2015           21,309           0             0            0        21,309         923           0        20,386
 2016           19,985           0             0            0        19,985         865           0        19,120

 SUB-TOT       481,361           0             0            0       481,361      20,843           0       460,518
 REMAIN         34,900           0             0            0        34,900       1,511           0        33,389
 TOTAL         516,261           0             0            0       516,261      22,354           0       493,907





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          8,180           0      91,563           0        99,743        -61,463       -61,463       -58,753
 2003         16,361           0           0           0        16,361         30,010       -31,453        25,956
 2004         16,360           0           0           0        16,360         24,928        -6,525        19,459
 2005         16,361           0           0           0        16,361         22,361        15,836        15,801
 2006         16,360           0           0           0        16,360         19,956        35,792        12,766
 2007         16,361           0           0           0        16,361         17,698        53,490        10,249
 2008         16,360           0           0           0        16,360         15,584        69,074         8,169
 2009         16,361           0           0           0        16,361         13,597        82,671         6,453
 2010         16,360           0           0           0        16,360         11,736        94,407         5,043
 2011         16,361           0           0           0        16,361          9,989       104,396         3,885
 2012         16,360           0           0           0        16,360          8,354       112,750         2,942
 2013         16,360           0           0           0        16,360          6,817       119,567         2,174
 2014         16,361           0           0           0        16,361          5,376       124,943         1,552
 2015         16,360           0           0           0        16,360          4,026       128,969         1,053
 2016         16,361           0           0           0        16,361          2,759       131,728           653

 SUBTOT      237,227           0      91,563           0       328,790        131,728                      57,402
 REMAIN       31,357           0           0           0        31,357          2,032       133,760           429
 TOTAL       268,584           0      91,563           0       360,147        133,760                      57,831


   LIFE OF EVALUATION IS 16.92 YEARS.
   FINAL PRODUCTION RATE: 112 BBLS/MO


                                 TENGASCO, INC.                         TABLE 27
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CHASE-SILICA FIELD, BARTON COUNTY, KANSAS                                             OIL LEASE
   TENGASCO, INC. - OPERATOR   3-T20S-R11W                                             PROVED
     ROSE, CHARLES #3                                                                  PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        37,763
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        32,754
 REMARKS -                                                                                 15.00% -        28,754
                                                                                           20.00% -        25,520
                                                                                           25.00% -        22,871




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         1,735           0           0           1,518           0           0.000      17.24     0.00
 2003     3         1,659           0           0           1,452           0           0.000      17.24     0.00
 2004     3         1,586           0           0           1,387           0           0.000      17.24     0.00
 2005     3         1,516           0           0           1,327           0           0.000      17.24     0.00
 2006     3         1,449           0           0           1,268           0           0.000      17.24     0.00
 2007     3         1,386           0           0           1,213           0           0.000      17.24     0.00
 2008     3         1,325           0           0           1,159           0           0.000      17.24     0.00
 2009     3         1,266           0           0           1,108           0           0.000      17.24     0.00
 2010     3         1,211           0           0           1,059           0           0.000      17.24     0.00
 2011     3         1,157           0           0           1,013           0           0.000      17.24     0.00
 2012     3           188           0           0             164           0           0.000      17.24     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         14,478           0           0          12,668           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             14,478           0           0          12,668           0           0.000      17.24     0.00

 CUMULATIVE        92,973           0           0
 ULTIMATE         107,451           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           26,176           0             0            0        26,176       1,133           0        25,043
 2003           25,024           0             0            0        25,024       1,084           0        23,940
 2004           23,923           0             0            0        23,923       1,036           0        22,887
 2005           22,871           0             0            0        22,871         990           0        21,881
 2006           21,864           0             0            0        21,864         947           0        20,917
 2007           20,902           0             0            0        20,902         905           0        19,997
 2008           19,982           0             0            0        19,982         865           0        19,117
 2009           19,104           0             0            0        19,104         827           0        18,277
 2010           18,262           0             0            0        18,262         791           0        17,471
 2011           17,459           0             0            0        17,459         756           0        16,703
 2012            2,835           0             0            0         2,835         123           0         2,712
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       218,402           0             0            0       218,402       9,457           0       208,945
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         218,402           0             0            0       218,402       9,457           0       208,945





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         16,212           0           0           0        16,212          8,831         8,831         8,414
 2003         16,212           0           0           0        16,212          7,728        16,559         6,666
 2004         16,212           0           0           0        16,212          6,675        23,234         5,213
 2005         16,212           0           0           0        16,212          5,669        28,903         4,008
 2006         16,212           0           0           0        16,212          4,705        33,608         3,012
 2007         16,212           0           0           0        16,212          3,785        37,393         2,194
 2008         16,212           0           0           0        16,212          2,905        40,298         1,525
 2009         16,212           0           0           0        16,212          2,065        42,363           982
 2010         16,212           0           0           0        16,212          1,259        43,622           543
 2011         16,212           0           0           0        16,212            491        44,113           193
 2012          2,702           0           0           0         2,702             10        44,123             4
 2013              0           0           0           0             0              0        44,123             0
 2014              0           0           0           0             0              0        44,123             0
 2015              0           0           0           0             0              0        44,123             0
 2016              0           0           0           0             0              0        44,123             0

 SUBTOT      164,822           0           0           0       164,822         44,123                      32,754
 REMAIN            0           0           0           0             0              0        44,123             0
 TOTAL       164,822           0           0           0       164,822         44,123                      32,754


   LIFE OF EVALUATION IS 10.17 YEARS.
   FINAL PRODUCTION RATE: 94 BBLS/MO


                                 TENGASCO, INC.                        TABLE 28
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CHEYENNE FIELD, BARTON COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   2-T19S-R12W                                             PROVED
     HAMMEKE #1   (SIMPSON)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.833984                         17.24                               5.00% -        92,956
 FINAL   -   1.000000  0.833984                         17.24                              10.00% -        73,962
 REMARKS -                                                                                 15.00% -        60,887
                                                                                           20.00% -        51,517
                                                                                           25.00% -        44,558




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,848           0           0           1,541           0           0.000      17.24     0.00
 2003     1         1,690           0           0           1,410           0           0.000      17.24     0.00
 2004     1         1,614           0           0           1,346           0           0.000      17.24     0.00
 2005     1         1,542           0           0           1,285           0           0.000      17.24     0.00
 2006     1         1,472           0           0           1,228           0           0.000      17.24     0.00
 2007     1         1,406           0           0           1,172           0           0.000      17.24     0.00
 2008     1         1,342           0           0           1,120           0           0.000      17.24     0.00
 2009     1         1,282           0           0           1,069           0           0.000      17.24     0.00
 2010     1         1,225           0           0           1,022           0           0.000      17.24     0.00
 2011     1         1,169           0           0             975           0           0.000      17.24     0.00
 2012     1         1,117           0           0             931           0           0.000      17.24     0.00
 2013     1         1,066           0           0             889           0           0.000      17.24     0.00
 2014     1         1,019           0           0             850           0           0.000      17.24     0.00
 2015     1           972           0           0             811           0           0.000      17.24     0.00
 2016     1           929           0           0             775           0           0.000      17.24     0.00

 SUB-TOTAL         19,693           0           0          16,424           0           0.000      17.24     0.00
 REMAINDER          3,504           0           0           2,922           0           0.000      17.24     0.00
 TOTAL             23,197           0           0          19,346           0           0.000      17.24     0.00

 CUMULATIVE        36,825           0           0
 ULTIMATE          60,022           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           26,572           0             0            0        26,572       1,151           0        25,421
 2003           24,300           0             0            0        24,300       1,052           0        23,248
 2004           23,207           0             0            0        23,207       1,005           0        22,202
 2005           22,162           0             0            0        22,162         959           0        21,203
 2006           21,165           0             0            0        21,165         917           0        20,248
 2007           20,212           0             0            0        20,212         875           0        19,337
 2008           19,303           0             0            0        19,303         836           0        18,467
 2009           18,434           0             0            0        18,434         798           0        17,636
 2010           17,605           0             0            0        17,605         762           0        16,843
 2011           16,812           0             0            0        16,812         728           0        16,084
 2012           16,056           0             0            0        16,056         695           0        15,361
 2013           15,333           0             0            0        15,333         664           0        14,669
 2014           14,644           0             0            0        14,644         634           0        14,010
 2015           13,984           0             0            0        13,984         606           0        13,378
 2016           13,355           0             0            0        13,355         578           0        12,777

 SUB-TOT       283,144           0             0            0       283,144      12,260           0       270,884
 REMAIN         50,374           0             0            0        50,374       2,181           0        48,193
 TOTAL         333,518           0             0            0       333,518      14,441           0       319,077





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         10,248           0           0           0        10,248         15,173        15,173        14,491
 2003         10,248           0           0           0        10,248         13,000        28,173        11,208
 2004         10,248           0           0           0        10,248         11,954        40,127         9,330
 2005         10,248           0           0           0        10,248         10,955        51,082         7,740
 2006         10,248           0           0           0        10,248         10,000        61,082         6,396
 2007         10,248           0           0           0        10,248          9,089        70,171         5,262
 2008         10,248           0           0           0        10,248          8,219        78,390         4,308
 2009         10,248           0           0           0        10,248          7,388        85,778         3,505
 2010         10,248           0           0           0        10,248          6,595        92,373         2,833
 2011         10,248           0           0           0        10,248          5,836        98,209         2,269
 2012         10,248           0           0           0        10,248          5,113       103,322         1,800
 2013         10,248           0           0           0        10,248          4,421       107,743         1,408
 2014         10,248           0           0           0        10,248          3,762       111,505         1,086
 2015         10,248           0           0           0        10,248          3,130       114,635           817
 2016         10,248           0           0           0        10,248          2,529       117,164           599

 SUBTOT      153,720           0           0           0       153,720        117,164                      73,052
 REMAIN       43,554           0           0           0        43,554          4,639       121,803           910
 TOTAL       197,274           0           0           0       197,274        121,803                      73,962

   LIFE OF EVALUATION IS 19.25 YEARS.
   FINAL PRODUCTION RATE: 62 BBLS/MO



                             TENGASCO, INC.                             TABLE 29
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CONVERSE FIELD, BARTON COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   19-T20S-R15W                                            PROVED
     IANNITTI #2   (ARBUCKLE)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       115,942           0           0
 ULTIMATE         115,942           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 30
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 CONVERSE FIELD, BARTON COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   19-T20S-R15W                                            PROVED
     IANNITTI #9 PUD   (ARBUCKLE)                                                      UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        75,218
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        48,181
 REMARKS -                                                                                 15.00% -        29,361
                                                                                           20.00% -        15,857
                                                                                           25.00% -         5,914




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,116           0           0           2,727           0           0.000      17.24     0.00
 2003     1         2,615           0           0           2,287           0           0.000      17.24     0.00
 2004     1         1,977           0           0           1,731           0           0.000      17.24     0.00
 2005     1         1,810           0           0           1,584           0           0.000      17.24     0.00
 2006     1         1,657           0           0           1,449           0           0.000      17.24     0.00
 2007     1         1,516           0           0           1,327           0           0.000      17.24     0.00
 2008     1         1,388           0           0           1,214           0           0.000      17.24     0.00
 2009     1         1,270           0           0           1,111           0           0.000      17.24     0.00
 2010     1         1,162           0           0           1,017           0           0.000      17.24     0.00
 2011     1         1,064           0           0             931           0           0.000      17.24     0.00
 2012     1           974           0           0             852           0           0.000      17.24     0.00
 2013     1           891           0           0             780           0           0.000      17.24     0.00
 2014     1           816           0           0             714           0           0.000      17.24     0.00
 2015     1           747           0           0             653           0           0.000      17.24     0.00
 2016     1           683           0           0             598           0           0.000      17.24     0.00

 SUB-TOTAL         21,686           0           0          18,975           0           0.000      17.24     0.00
 REMAINDER          1,886           0           0           1,651           0           0.000      17.24     0.00
 TOTAL             23,572           0           0          20,626           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          23,572           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           47,008           0             0            0        47,008       2,035           0        44,973
 2003           39,441           0             0            0        39,441       1,708           0        37,733
 2004           29,832           0             0            0        29,832       1,292           0        28,540
 2005           27,303           0             0            0        27,303       1,182           0        26,121
 2006           24,990           0             0            0        24,990       1,082           0        23,908
 2007           22,872           0             0            0        22,872         991           0        21,881
 2008           20,933           0             0            0        20,933         906           0        20,027
 2009           19,159           0             0            0        19,159         830           0        18,329
 2010           17,536           0             0            0        17,536         759           0        16,777
 2011           16,049           0             0            0        16,049         695           0        15,354
 2012           14,689           0             0            0        14,689         636           0        14,053
 2013           13,445           0             0            0        13,445         582           0        12,863
 2014           12,305           0             0            0        12,305         533           0        11,772
 2015           11,262           0             0            0        11,262         487           0        10,775
 2016           10,307           0             0            0        10,307         447           0         9,860

 SUB-TOT       327,131           0             0            0       327,131      14,165           0       312,966
 REMAIN         28,454           0             0            0        28,454       1,232           0        27,222
 TOTAL         355,585           0             0            0       355,585      15,397           0       340,188





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          3,498           0     100,000           0       103,498        -58,525       -58,525       -56,139
 2003          6,996           0           0           0         6,996         30,737       -27,788        26,696
 2004          6,996           0           0           0         6,996         21,544        -6,244        16,819
 2005          6,996           0           0           0         6,996         19,125        12,881        13,515
 2006          6,996           0           0           0         6,996         16,912        29,793        10,820
 2007          6,996           0           0           0         6,996         14,885        44,678         8,620
 2008          6,996           0           0           0         6,996         13,031        57,709         6,831
 2009          6,996           0           0           0         6,996         11,333        69,042         5,379
 2010          6,996           0           0           0         6,996          9,781        78,823         4,202
 2011          6,996           0           0           0         6,996          8,358        87,181         3,251
 2012          6,996           0           0           0         6,996          7,057        94,238         2,485
 2013          6,996           0           0           0         6,996          5,867       100,105         1,870
 2014          6,996           0           0           0         6,996          4,776       104,881         1,379
 2015          6,996           0           0           0         6,996          3,779       108,660           987
 2016          6,996           0           0           0         6,996          2,864       111,524           678

 SUBTOT      101,442           0     100,000           0       201,442        111,524                      47,393
 REMAIN       23,320           0           0           0        23,320          3,902       115,426           788
 TOTAL       124,762           0     100,000           0       224,762        115,426                      48,181


   LIFE OF EVALUATION IS 18.33 YEARS.
   FINAL PRODUCTION RATE: 41 BBLS/MO


                               TENGASCO, INC.                          TABLE 31
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 COOPER FIELD, GRAHAM COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   4-T10S-R21W                                             PROVED
     DEYOUNG #1   (ABCK-TOPK)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -           150
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -           149
 REMARKS -                                                                                 15.00% -           147
                                                                                           20.00% -           146
                                                                                           25.00% -           145




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2           919           0           0             804           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            919           0           0             804           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                919           0           0             804           0           0.000      17.24     0.00

 CUMULATIVE        59,167           0           0
 ULTIMATE          60,086           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           13,867           0             0            0        13,867         600           0        13,267
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        13,867           0             0            0        13,867         600           0        13,267
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          13,867           0             0            0        13,867         600           0        13,267





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002         13,116           0           0           0        13,116            151           151           149
 2003              0           0           0           0             0              0           151             0
 2004              0           0           0           0             0              0           151             0
 2005              0           0           0           0             0              0           151             0
 2006              0           0           0           0             0              0           151             0
 2007              0           0           0           0             0              0           151             0
 2008              0           0           0           0             0              0           151             0
 2009              0           0           0           0             0              0           151             0
 2010              0           0           0           0             0              0           151             0
 2011              0           0           0           0             0              0           151             0
 2012              0           0           0           0             0              0           151             0
 2013              0           0           0           0             0              0           151             0
 2014              0           0           0           0             0              0           151             0
 2015              0           0           0           0             0              0           151             0
 2016              0           0           0           0             0              0           151             0

 SUBTOT       13,116           0           0           0        13,116            151                         149
 REMAIN            0           0           0           0             0              0           151             0
 TOTAL        13,116           0           0           0        13,116            151                         149

   LIFE OF EVALUATION IS 0.50 YEARS.
   FINAL PRODUCTION RATE: 152 BBLS/MO



                                  TENGASCO, INC.                       TABLE 32
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 COOPER FIELD, GRAHAM COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   9-T10S-R21W                                             PROVED
     LEWIS #1   (LANSING)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        51,791
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        42,401
 REMARKS -                                                                                 15.00% -        35,624
                                                                                           20.00% -        30,587
                                                                                           25.00% -        26,739




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         1,351           0           0           1,182           0           0.000      17.24     0.00
 2003     2         1,221           0           0           1,069           0           0.000      17.24     0.00
 2004     2         1,173           0           0           1,026           0           0.000      17.24     0.00
 2005     2         1,126           0           0             985           0           0.000      17.24     0.00
 2006     2         1,081           0           0             946           0           0.000      17.24     0.00
 2007     2         1,037           0           0             908           0           0.000      17.24     0.00
 2008     2           996           0           0             871           0           0.000      17.24     0.00
 2009     2           957           0           0             837           0           0.000      17.24     0.00
 2010     2           917           0           0             803           0           0.000      17.24     0.00
 2011     2           882           0           0             771           0           0.000      17.24     0.00
 2012     2           846           0           0             740           0           0.000      17.24     0.00
 2013     2           812           0           0             711           0           0.000      17.24     0.00
 2014     2           780           0           0             682           0           0.000      17.24     0.00
 2015     2           748           0           0             655           0           0.000      17.24     0.00
 2016     2           719           0           0             629           0           0.000      17.24     0.00

 SUB-TOTAL         14,646           0           0          12,815           0           0.000      17.24     0.00
 REMAINDER            689           0           0             603           0           0.000      17.24     0.00
 TOTAL             15,335           0           0          13,418           0           0.000      17.24     0.00

 CUMULATIVE        81,020           0           0
 ULTIMATE          96,355           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           20,378           0             0            0        20,378         882           0        19,496
 2003           18,428           0             0            0        18,428         798           0        17,630
 2004           17,690           0             0            0        17,690         766           0        16,924
 2005           16,983           0             0            0        16,983         736           0        16,247
 2006           16,303           0             0            0        16,303         706           0        15,597
 2007           15,652           0             0            0        15,652         677           0        14,975
 2008           15,025           0             0            0        15,025         651           0        14,374
 2009           14,424           0             0            0        14,424         624           0        13,800
 2010           13,848           0             0            0        13,848         600           0        13,248
 2011           13,293           0             0            0        13,293         576           0        12,717
 2012           12,762           0             0            0        12,762         552           0        12,210
 2013           12,251           0             0            0        12,251         531           0        11,720
 2014           11,761           0             0            0        11,761         509           0        11,252
 2015           11,291           0             0            0        11,291         489           0        10,802
 2016           10,839           0             0            0        10,839         469           0        10,370

 SUB-TOT       220,928           0             0            0       220,928       9,566           0       211,362
 REMAIN         10,405           0             0            0        10,405         451           0         9,954
 TOTAL         231,333           0             0            0       231,333      10,017           0       221,316





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          9,756           0           0           0         9,756          9,740         9,740         9,295
 2003          9,756           0           0           0         9,756          7,874        17,614         6,789
 2004          9,756           0           0           0         9,756          7,168        24,782         5,595
 2005          9,756           0           0           0         9,756          6,491        31,273         4,587
 2006          9,756           0           0           0         9,756          5,841        37,114         3,736
 2007          9,756           0           0           0         9,756          5,219        42,333         3,022
 2008          9,756           0           0           0         9,756          4,618        46,951         2,421
 2009          9,756           0           0           0         9,756          4,044        50,995         1,919
 2010          9,756           0           0           0         9,756          3,492        54,487         1,500
 2011          9,756           0           0           0         9,756          2,961        57,448         1,152
 2012          9,756           0           0           0         9,756          2,454        59,902           864
 2013          9,756           0           0           0         9,756          1,964        61,866           627
 2014          9,756           0           0           0         9,756          1,496        63,362           432
 2015          9,756           0           0           0         9,756          1,046        64,408           274
 2016          9,756           0           0           0         9,756            614        65,022           145

 SUBTOT      146,340           0           0           0       146,340         65,022                      42,358
 REMAIN        9,756           0           0           0         9,756            198        65,220            43
 TOTAL       156,096           0           0           0       156,096         65,220                      42,401


   LIFE OF EVALUATION IS 16.00 YEARS.
   FINAL PRODUCTION RATE: 56 BBLS/MO


                                  TENGASCO, INC.                       TABLE 33
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 DAVIDSON FIELD, RUSSELL COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   33-T15S-R11W                                            PROVED
     FOSTER #1   (ARBUCKLE)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.847656                         17.24                               5.00% -        31,481
 FINAL   -   1.000000  0.847656                         17.24                              10.00% -        29,277
 REMARKS -                                                                                 15.00% -        27,314
                                                                                           20.00% -        25,559
                                                                                           25.00% -        23,986




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     4         2,822           0           0           2,392           0           0.000      17.24     0.00
 2003     4         2,567           0           0           2,176           0           0.000      17.24     0.00
 2004     4         2,337           0           0           1,981           0           0.000      17.24     0.00
 2005     4         2,126           0           0           1,802           0           0.000      17.24     0.00
 2006     4         1,625           0           0           1,378           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         11,477           0           0           9,729           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             11,477           0           0           9,729           0           0.000      17.24     0.00

 CUMULATIVE       150,633           0           0
 ULTIMATE         162,110           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           41,234           0             0            0        41,234       1,785           0        39,449
 2003           37,524           0             0            0        37,524       1,625           0        35,899
 2004           34,146           0             0            0        34,146       1,479           0        32,667
 2005           31,073           0             0            0        31,073       1,345           0        29,728
 2006           23,747           0             0            0        23,747       1,028           0        22,719
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       167,724           0             0            0       167,724       7,262           0       160,462
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         167,724           0             0            0       167,724       7,262           0       160,462





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         26,172           0           0           0        26,172         13,277        13,277        12,666
 2003         26,172           0           0           0        26,172          9,727        23,004         8,405
 2004         26,172           0           0           0        26,172          6,495        29,499         5,086
 2005         26,172           0           0           0        26,172          3,556        33,055         2,527
 2006         21,810           0           0           0        21,810            909        33,964           593
 2007              0           0           0           0             0              0        33,964             0
 2008              0           0           0           0             0              0        33,964             0
 2009              0           0           0           0             0              0        33,964             0
 2010              0           0           0           0             0              0        33,964             0
 2011              0           0           0           0             0              0        33,964             0
 2012              0           0           0           0             0              0        33,964             0
 2013              0           0           0           0             0              0        33,964             0
 2014              0           0           0           0             0              0        33,964             0
 2015              0           0           0           0             0              0        33,964             0
 2016              0           0           0           0             0              0        33,964             0

 SUBTOT      126,498           0           0           0       126,498         33,964                      29,277
 REMAIN            0           0           0           0             0              0        33,964             0
 TOTAL       126,498           0           0           0       126,498         33,964                      29,277


   LIFE OF EVALUATION IS 4.83 YEARS.
   FINAL PRODUCTION RATE: 157 BBLS/MO


                                  TENGASCO, INC.                       TABLE 34
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 DISTRICT 57 FIELD, ELLIS COUNTY, KANSAS                                               OIL LEASE
   TENGASCO, INC. - OPERATOR   28-T12S-R20W                                            PROVED
     FLAX -F- #1   (KSSC-LNSG)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         9,363
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         8,186
 REMARKS -                                                                                 15.00% -         7,232
                                                                                           20.00% -         6,452
                                                                                           25.00% -         5,806




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           737           0           0             645           0           0.000      17.24     0.00
 2003     1           717           0           0             627           0           0.000      17.24     0.00
 2004     1           697           0           0             610           0           0.000      17.24     0.00
 2005     1           679           0           0             594           0           0.000      17.24     0.00
 2006     1           660           0           0             578           0           0.000      17.24     0.00
 2007     1           643           0           0             562           0           0.000      17.24     0.00
 2008     1           625           0           0             547           0           0.000      17.24     0.00
 2009     1           608           0           0             533           0           0.000      17.24     0.00
 2010     1           592           0           0             518           0           0.000      17.24     0.00
 2011     1           194           0           0             169           0           0.000      17.24     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          6,152           0           0           5,383           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              6,152           0           0           5,383           0           0.000      17.24     0.00

 CUMULATIVE        45,941           0           0
 ULTIMATE          52,093           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           11,115           0             0            0        11,115         481           0        10,634
 2003           10,814           0             0            0        10,814         469           0        10,345
 2004           10,523           0             0            0        10,523         455           0        10,068
 2005           10,238           0             0            0        10,238         443           0         9,795
 2006            9,962           0             0            0         9,962         432           0         9,530
 2007            9,693           0             0            0         9,693         420           0         9,273
 2008            9,431           0             0            0         9,431         408           0         9,023
 2009            9,177           0             0            0         9,177         397           0         8,780
 2010            8,929           0             0            0         8,929         387           0         8,542
 2011            2,922           0             0            0         2,922         126           0         2,796
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        92,804           0             0            0        92,804       4,018           0        88,786
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          92,804           0             0            0        92,804       4,018           0        88,786





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          8,352           0           0           0         8,352          2,282         2,282         2,174
 2003          8,352           0           0           0         8,352          1,993         4,275         1,719
 2004          8,352           0           0           0         8,352          1,716         5,991         1,341
 2005          8,352           0           0           0         8,352          1,443         7,434         1,020
 2006          8,352           0           0           0         8,352          1,178         8,612           754
 2007          8,352           0           0           0         8,352            921         9,533           534
 2008          8,352           0           0           0         8,352            671        10,204           353
 2009          8,352           0           0           0         8,352            428        10,632           203
 2010          8,352           0           0           0         8,352            190        10,822            83
 2011          2,784           0           0           0         2,784             12        10,834             5
 2012              0           0           0           0             0              0        10,834             0
 2013              0           0           0           0             0              0        10,834             0
 2014              0           0           0           0             0              0        10,834             0
 2015              0           0           0           0             0              0        10,834             0
 2016              0           0           0           0             0              0        10,834             0

 SUBTOT       77,952           0           0           0        77,952         10,834                       8,186
 REMAIN            0           0           0           0             0              0        10,834             0
 TOTAL        77,952           0           0           0        77,952         10,834                       8,186


   LIFE OF EVALUATION IS 9.33 YEARS.
   FINAL PRODUCTION RATE: 48 BBLS/MO


                                  TENGASCO, INC.                       TABLE 35
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   14-T22S-R15W                                            PROVED
     BARSTOW #1   (KSSC-LNSG)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937500                                                                       5.00% -             0
 FINAL   -   0.937500                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        74,694           0           0
 ULTIMATE          74,694           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 36
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   15-T22S-R15W                                            PROVED
     LOVETT #1   (LANSING)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937000                                                                       5.00% -             0
 FINAL   -   0.937000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       107,067           0           0
 ULTIMATE         107,067           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                        TABLE 37
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 ELLIS NW FIELD, TREGO COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   23-T12S-R21W                                            PROVED
     BAUGHER #1   (ARBUCKLE)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        75,666           0           0
 ULTIMATE          75,666           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                TENGASCO, INC.                         TABLE 38
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 FICKEN FIELD, RUSH COUNTY, KANSAS                                                     OIL LEASE
   TENGASCO, INC. - OPERATOR   23-T17S-R18W                                            PROVED
     SCHWINDT FARMS #1   (LANSING)                                                     PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        19,490           0           0
 ULTIMATE          19,490           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                TENGASCO, INC.                         TABLE 39
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GATES NORTH FIELD, STAFFORD COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   22-T21S-R13W                                            PROVED
     HOFFMAN #1   (ARBUCKLE)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.687500  0.556915                         17.24                               5.00% -           568
 FINAL   -   0.687500  0.556915                         17.24                              10.00% -           559
 REMARKS -                                                                                 15.00% -           549
                                                                                           20.00% -           540
                                                                                           25.00% -           532




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           844           0           0             470           0           0.000      17.24     0.00
 2003     1            65           0           0              37           0           0.000      17.24     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            909           0           0             507           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                909           0           0             507           0           0.000      17.24     0.00

 CUMULATIVE        55,391           0           0
 ULTIMATE          56,300           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            8,105           0             0            0         8,105         351           0         7,754
 2003              627           0             0            0           627          27           0           600
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT         8,732           0             0            0         8,732         378           0         8,354
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL           8,732           0             0            0         8,732         378           0         8,354





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          7,178           0           0           0         7,178            576           576           557
 2003            598           0           0           0           598              2           578             2
 2004              0           0           0           0             0              0           578             0
 2005              0           0           0           0             0              0           578             0
 2006              0           0           0           0             0              0           578             0
 2007              0           0           0           0             0              0           578             0
 2008              0           0           0           0             0              0           578             0
 2009              0           0           0           0             0              0           578             0
 2010              0           0           0           0             0              0           578             0
 2011              0           0           0           0             0              0           578             0
 2012              0           0           0           0             0              0           578             0
 2013              0           0           0           0             0              0           578             0
 2014              0           0           0           0             0              0           578             0
 2015              0           0           0           0             0              0           578             0
 2016              0           0           0           0             0              0           578             0

 SUBTOT        7,776           0           0           0         7,776            578                         559
 REMAIN            0           0           0           0             0              0           578             0
 TOTAL         7,776           0           0           0         7,776            578                         559


   LIFE OF EVALUATION IS 1.08 YEARS.
   FINAL PRODUCTION RATE: 65 BBLS/MO


                                  TENGASCO, INC.                       TABLE 40
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GATES NORTH FIELD, STAFFORD COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   22-T21S-R13W                                            PROVED
     SCHULZ #1   (ARBUCKLE)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.687500  0.554449                         17.24                               5.00% -        59,860
 FINAL   -   0.687500  0.554449                         17.24                              10.00% -        47,943
 REMARKS -                                                                                 15.00% -        39,597
                                                                                           20.00% -        33,539
                                                                                           25.00% -        28,998




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         2,035           0           0           1,128           0           0.000      17.24     0.00
 2003     2         1,953           0           0           1,083           0           0.000      17.24     0.00
 2004     2         1,875           0           0           1,040           0           0.000      17.24     0.00
 2005     2         1,801           0           0             998           0           0.000      17.24     0.00
 2006     2         1,728           0           0             958           0           0.000      17.24     0.00
 2007     2         1,659           0           0             920           0           0.000      17.24     0.00
 2008     2         1,593           0           0             883           0           0.000      17.24     0.00
 2009     2         1,529           0           0             848           0           0.000      17.24     0.00
 2010     2         1,468           0           0             814           0           0.000      17.24     0.00
 2011     2         1,409           0           0             781           0           0.000      17.24     0.00
 2012     2         1,353           0           0             750           0           0.000      17.24     0.00
 2013     2         1,298           0           0             720           0           0.000      17.24     0.00
 2014     2         1,247           0           0             692           0           0.000      17.24     0.00
 2015     2         1,197           0           0             663           0           0.000      17.24     0.00
 2016     2         1,149           0           0             637           0           0.000      17.24     0.00

 SUB-TOTAL         23,294           0           0          12,915           0           0.000      17.24     0.00
 REMAINDER          3,095           0           0           1,716           0           0.000      17.24     0.00
 TOTAL             26,389           0           0          14,631           0           0.000      17.24     0.00

 CUMULATIVE       263,452           0           0
 ULTIMATE         289,841           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           19,450           0             0            0        19,450         842           0        18,608
 2003           18,672           0             0            0        18,672         809           0        17,863
 2004           17,925           0             0            0        17,925         776           0        17,149
 2005           17,208           0             0            0        17,208         745           0        16,463
 2006           16,520           0             0            0        16,520         715           0        15,805
 2007           15,859           0             0            0        15,859         687           0        15,172
 2008           15,224           0             0            0        15,224         659           0        14,565
 2009           14,616           0             0            0        14,616         633           0        13,983
 2010           14,031           0             0            0        14,031         608           0        13,423
 2011           13,469           0             0            0        13,469         583           0        12,886
 2012           12,931           0             0            0        12,931         560           0        12,371
 2013           12,414           0             0            0        12,414         537           0        11,877
 2014           11,917           0             0            0        11,917         516           0        11,401
 2015           11,441           0             0            0        11,441         496           0        10,945
 2016           10,982           0             0            0        10,982         475           0        10,507

 SUB-TOT       222,659           0             0            0       222,659       9,641           0       213,018
 REMAIN         29,588           0             0            0        29,588       1,281           0        28,307
 TOTAL         252,247           0             0            0       252,247      10,922           0       241,325





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          9,141           0           0           0         9,141          9,467         9,467         9,017
 2003          9,141           0           0           0         9,141          8,722        18,189         7,520
 2004          9,141           0           0           0         9,141          8,008        26,197         6,250
 2005          9,141           0           0           0         9,141          7,322        33,519         5,173
 2006          9,141           0           0           0         9,141          6,664        40,183         4,262
 2007          9,141           0           0           0         9,141          6,031        46,214         3,492
 2008          9,141           0           0           0         9,141          5,424        51,638         2,843
 2009          9,141           0           0           0         9,141          4,842        56,480         2,298
 2010          9,141           0           0           0         9,141          4,282        60,762         1,839
 2011          9,141           0           0           0         9,141          3,745        64,507         1,456
 2012          9,141           0           0           0         9,141          3,230        67,737         1,137
 2013          9,141           0           0           0         9,141          2,736        70,473           873
 2014          9,141           0           0           0         9,141          2,260        72,733           652
 2015          9,141           0           0           0         9,141          1,804        74,537           471
 2016          9,141           0           0           0         9,141          1,366        75,903           324

 SUBTOT      137,115           0           0           0       137,115         75,903                      47,607
 REMAIN       26,661           0           0           0        26,661          1,646        77,549           336
 TOTAL       163,776           0           0           0       163,776         77,549                      47,943


   LIFE OF EVALUATION IS 17.92 YEARS.
   FINAL PRODUCTION RATE: 83 BBLS/MO


                                  TENGASCO, INC.                       TABLE 41
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GIESICK FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T17S-R17W                                            PROVED
     GIESICK #2   (TOPEKA)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -         6,031
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -         5,496
 REMARKS -                                                                                 15.00% -         5,035
                                                                                           20.00% -         4,634
                                                                                           25.00% -         4,285




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.358       0.00     2.13
 2003     1             0           0           4               0           0           3.157       0.00     2.13
 2004     1             0           0           4               0           0           2.967       0.00     2.13
 2005     1             0           0           3               0           0           2.789       0.00     2.13
 2006     1             0           0           4               0           0           2.622       0.00     2.13
 2007     1             0           0           3               0           0           2.465       0.00     2.13
 2008     1             0           0           0               0           0           0.593       0.00     2.13
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          22               0           0          17.951       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          22               0           0          17.951       0.00     2.13

 CUMULATIVE             0           0         432    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         454        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,153            0         7,153           0         310         6,843
 2003                0           0         6,724            0         6,724           0         291         6,433
 2004                0           0         6,320            0         6,320           0         274         6,046
 2005                0           0         5,941            0         5,941           0         257         5,684
 2006                0           0         5,584            0         5,584           0         242         5,342
 2007                0           0         5,250            0         5,250           0         227         5,023
 2008                0           0         1,262            0         1,262           0          55         1,207
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        38,234            0        38,234           0       1,656        36,578
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        38,234            0        38,234           0       1,656        36,578





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,788           0           0           0         4,788          2,055         2,055         1,959
 2003          4,788           0           0           0         4,788          1,645         3,700         1,420
 2004          4,788           0           0           0         4,788          1,258         4,958           984
 2005          4,788           0           0           0         4,788            896         5,854           635
 2006          4,788           0           0           0         4,788            554         6,408           355
 2007          4,788           0           0           0         4,788            235         6,643           138
 2008          1,197           0           0           0         1,197             10         6,653             5
 2009              0           0           0           0             0              0         6,653             0
 2010              0           0           0           0             0              0         6,653             0
 2011              0           0           0           0             0              0         6,653             0
 2012              0           0           0           0             0              0         6,653             0
 2013              0           0           0           0             0              0         6,653             0
 2014              0           0           0           0             0              0         6,653             0
 2015              0           0           0           0             0              0         6,653             0
 2016              0           0           0           0             0              0         6,653             0

 SUBTOT       29,925           0           0           0        29,925          6,653                       5,496
 REMAIN            0           0           0           0             0              0         6,653             0
 TOTAL        29,925           0           0           0        29,925          6,653                       5,496


   LIFE OF EVALUATION IS 6.25 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                  TENGASCO, INC.                        TABLE 42
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 GOTTSCHALK FIELD, ELLIS COUNTY, KANSAS                                                GAS LEASE
   TENGASCO, INC. - OPERATOR   36-T15S-R18W                                            PROVED
     WERTH #1   (OREAD & TOPEKA)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         180    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         180        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                  TENGASCO, INC.                       TABLE 43
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 HERMAN FIELD, BARTON COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   18-T16S-R14W                                            PROVED
     KARST #1   (LANSING)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.812500  0.702051                         17.24                               5.00% -        20,021
 FINAL   -   0.812500  0.702051                         17.24                              10.00% -        17,102
 REMARKS -                                                                                 15.00% -        14,828
                                                                                           20.00% -        13,028
                                                                                           25.00% -        11,580




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                 
 2002     2         1,024           0           0             719           0           0.000      17.24     0.00
 2003     2           983           0           0             690           0           0.000      17.24     0.00
 2004     2           944           0           0             663           0           0.000      17.24     0.00
 2005     2           906           0           0             636           0           0.000      17.24     0.00
 2006     2           870           0           0             610           0           0.000      17.24     0.00
 2007     2           835           0           0             587           0           0.000      17.24     0.00
 2008     2           801           0           0             562           0           0.000      17.24     0.00
 2009     2           770           0           0             541           0           0.000      17.24     0.00
 2010     2           738           0           0             518           0           0.000      17.24     0.00
 2011     2           710           0           0             498           0           0.000      17.24     0.00
 2012     2           680           0           0             478           0           0.000      17.24     0.00
 2013     2           276           0           0             193           0           0.000      17.24     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          9,537           0           0           6,695           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              9,537           0           0           6,695           0           0.000      17.24     0.00

 CUMULATIVE        31,499           0           0
 ULTIMATE          41,036           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,394           0             0            0        12,394         537           0        11,857
 2003           11,899           0             0            0        11,899         515           0        11,384
 2004           11,422           0             0            0        11,422         494           0        10,928
 2005           10,966           0             0            0        10,966         475           0        10,491
 2006           10,527           0             0            0        10,527         456           0        10,071
 2007           10,106           0             0            0        10,106         438           0         9,668
 2008            9,702           0             0            0         9,702         420           0         9,282
 2009            9,313           0             0            0         9,313         403           0         8,910
 2010            8,941           0             0            0         8,941         387           0         8,554
 2011            8,584           0             0            0         8,584         372           0         8,212
 2012            8,240           0             0            0         8,240         357           0         7,883
 2013            3,335           0             0            0         3,335         144           0         3,191
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       115,429           0             0            0       115,429       4,998           0       110,431
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         115,429           0             0            0       115,429       4,998           0       110,431





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          7,586           0           0           0         7,586          4,271         4,271         4,069
 2003          7,585           0           0           0         7,585          3,799         8,070         3,277
 2004          7,586           0           0           0         7,586          3,342        11,412         2,609
 2005          7,585           0           0           0         7,585          2,906        14,318         2,054
 2006          7,586           0           0           0         7,586          2,485        16,803         1,590
 2007          7,585           0           0           0         7,585          2,083        18,886         1,207
 2008          7,586           0           0           0         7,586          1,696        20,582           890
 2009          7,585           0           0           0         7,585          1,325        21,907           630
 2010          7,586           0           0           0         7,586            968        22,875           416
 2011          7,585           0           0           0         7,585            627        23,502           245
 2012          7,586           0           0           0         7,586            297        23,799           105
 2013          3,160           0           0           0         3,160             31        23,830            10
 2014              0           0           0           0             0              0        23,830             0
 2015              0           0           0           0             0              0        23,830             0
 2016              0           0           0           0             0              0        23,830             0

 SUBTOT       86,601           0           0           0        86,601         23,830                      17,102
 REMAIN            0           0           0           0             0              0        23,830             0
 TOTAL        86,601           0           0           0        86,601         23,830                      17,102


   LIFE OF EVALUATION IS 11.42 YEARS.
   FINAL PRODUCTION RATE: 55 BBLS/MO


                                  TENGASCO, INC.                       TABLE 44
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 HOBROCK FIELD, OSBORNE COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   3-T10S-R15W                                             PROVED
     HOBROCK #4   (PENNSYLVANIAN)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.593750  0.481947                         17.24                               5.00% -        18,807
 FINAL   -   0.593750  0.481947                         17.24                              10.00% -        14,927
 REMARKS -                                                                                 15.00% -        12,259
                                                                                           20.00% -        10,348
                                                                                           25.00% -         8,930




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           514           0           0             248           0           0.000      17.24     0.00
 2003     1           483           0           0             233           0           0.000      17.24     0.00
 2004     1           454           0           0             218           0           0.000      17.24     0.00
 2005     1           427           0           0             206           0           0.000      17.24     0.00
 2006     1           402           0           0             194           0           0.000      17.24     0.00
 2007     1           377           0           0             181           0           0.000      17.24     0.00
 2008     1           355           0           0             171           0           0.000      17.24     0.00
 2009     1           333           0           0             161           0           0.000      17.24     0.00
 2010     1           313           0           0             151           0           0.000      17.24     0.00
 2011     1           295           0           0             142           0           0.000      17.24     0.00
 2012     1           277           0           0             133           0           0.000      17.24     0.00
 2013     1           260           0           0             126           0           0.000      17.24     0.00
 2014     1           244           0           0             118           0           0.000      17.24     0.00
 2015     1           230           0           0             111           0           0.000      17.24     0.00
 2016     1           217           0           0             104           0           0.000      17.24     0.00

 SUB-TOTAL          5,181           0           0           2,497           0           0.000      17.24     0.00
 REMAINDER            477           0           0             230           0           0.000      17.24     0.00
 TOTAL              5,658           0           0           2,727           0           0.000      17.24     0.00

 CUMULATIVE        57,444           0           0
 ULTIMATE          63,102           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            4,271           0             0            0         4,271         185           0         4,086
 2003            4,015           0             0            0         4,015         174           0         3,841
 2004            3,773           0             0            0         3,773         163           0         3,610
 2005            3,548           0             0            0         3,548         154           0         3,394
 2006            3,334           0             0            0         3,334         144           0         3,190
 2007            3,135           0             0            0         3,135         136           0         2,999
 2008            2,946           0             0            0         2,946         127           0         2,819
 2009            2,769           0             0            0         2,769         120           0         2,649
 2010            2,604           0             0            0         2,604         113           0         2,491
 2011            2,447           0             0            0         2,447         106           0         2,341
 2012            2,300           0             0            0         2,300         100           0         2,200
 2013            2,163           0             0            0         2,163          93           0         2,070
 2014            2,032           0             0            0         2,032          88           0         1,944
 2015            1,911           0             0            0         1,911          83           0         1,828
 2016            1,796           0             0            0         1,796          78           0         1,718

 SUB-TOT        43,044           0             0            0        43,044       1,864           0        41,180
 REMAIN          3,967           0             0            0         3,967         172           0         3,795
 TOTAL          47,011           0             0            0        47,011       2,036           0        44,975





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,161           0           0           0         1,161          2,925         2,925         2,786
 2003          1,162           0           0           0         1,162          2,679         5,604         2,310
 2004          1,161           0           0           0         1,161          2,449         8,053         1,911
 2005          1,162           0           0           0         1,162          2,232        10,285         1,577
 2006          1,161           0           0           0         1,161          2,029        12,314         1,298
 2007          1,161           0           0           0         1,161          1,838        14,152         1,064
 2008          1,162           0           0           0         1,162          1,657        15,809           869
 2009          1,161           0           0           0         1,161          1,488        17,297           706
 2010          1,161           0           0           0         1,161          1,330        18,627           571
 2011          1,162           0           0           0         1,162          1,179        19,806           458
 2012          1,161           0           0           0         1,161          1,039        20,845           366
 2013          1,162           0           0           0         1,162            908        21,753           289
 2014          1,161           0           0           0         1,161            783        22,536           226
 2015          1,161           0           0           0         1,161            667        23,203           175
 2016          1,162           0           0           0         1,162            556        23,759           131

 SUBTOT       17,421           0           0           0        17,421         23,759                      14,737
 REMAIN        2,852           0           0           0         2,852            943        24,702           190
 TOTAL        20,273           0           0           0        20,273         24,702                      14,927


   LIFE OF EVALUATION IS 17.46 YEARS.
   FINAL PRODUCTION RATE: 15 BBLS/MO


                                  TENGASCO, INC.                       TABLE 45
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 HOBROCK FIELD, OSBORNE COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T10S-R15W                                            PROVED
     HOGAN #2   (PENNSYLVANIAN)                                                        PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.593750  0.480972                         17.24                               5.00% -        87,095
 FINAL   -   0.593750  0.480972                         17.24                              10.00% -        71,595
 REMARKS -                                                                                 15.00% -        60,608
                                                                                           20.00% -        52,526
                                                                                           25.00% -        46,380




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         3,455           0           0           1,662           0           0.000      17.24     0.00
 2003     3         2,937           0           0           1,412           0           0.000      17.24     0.00
 2004     3         2,496           0           0           1,201           0           0.000      17.24     0.00
 2005     3         2,241           0           0           1,078           0           0.000      17.24     0.00
 2006     3         2,129           0           0           1,024           0           0.000      17.24     0.00
 2007     3         2,023           0           0             973           0           0.000      17.24     0.00
 2008     3         1,921           0           0             924           0           0.000      17.24     0.00
 2009     3         1,825           0           0             878           0           0.000      17.24     0.00
 2010     3         1,734           0           0             834           0           0.000      17.24     0.00
 2011     3         1,648           0           0             792           0           0.000      17.24     0.00
 2012     3         1,565           0           0             753           0           0.000      17.24     0.00
 2013     3         1,486           0           0             715           0           0.000      17.24     0.00
 2014     3         1,413           0           0             679           0           0.000      17.24     0.00
 2015     3         1,341           0           0             645           0           0.000      17.24     0.00
 2016     3         1,275           0           0             613           0           0.000      17.24     0.00

 SUB-TOTAL         29,489           0           0          14,183           0           0.000      17.24     0.00
 REMAINDER          3,543           0           0           1,704           0           0.000      17.24     0.00
 TOTAL             33,032           0           0          15,887           0           0.000      17.24     0.00

 CUMULATIVE       193,153           0           0
 ULTIMATE         226,185           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           28,649           0             0            0        28,649       1,241           0        27,408
 2003           24,352           0             0            0        24,352       1,054           0        23,298
 2004           20,699           0             0            0        20,699         896           0        19,803
 2005           18,582           0             0            0        18,582         805           0        17,777
 2006           17,653           0             0            0        17,653         764           0        16,889
 2007           16,771           0             0            0        16,771         726           0        16,045
 2008           15,931           0             0            0        15,931         690           0        15,241
 2009           15,136           0             0            0        15,136         656           0        14,480
 2010           14,378           0             0            0        14,378         622           0        13,756
 2011           13,660           0             0            0        13,660         592           0        13,068
 2012           12,977           0             0            0        12,977         562           0        12,415
 2013           12,328           0             0            0        12,328         533           0        11,795
 2014           11,711           0             0            0        11,711         507           0        11,204
 2015           11,126           0             0            0        11,126         482           0        10,644
 2016           10,569           0             0            0        10,569         458           0        10,111

 SUB-TOT       244,522           0             0            0       244,522      10,588           0       233,934
 REMAIN         29,377           0             0            0        29,377       1,272           0        28,105
 TOTAL         273,899           0             0            0       273,899      11,860           0       262,039





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          8,415           0           0           0         8,415         18,993        18,993        18,113
 2003          8,414           0           0           0         8,414         14,884        33,877        12,851
 2004          8,415           0           0           0         8,415         11,388        45,265         8,902
 2005          8,415           0           0           0         8,415          9,362        54,627         6,615
 2006          8,414           0           0           0         8,414          8,475        63,102         5,421
 2007          8,415           0           0           0         8,415          7,630        70,732         4,418
 2008          8,414           0           0           0         8,414          6,827        77,559         3,578
 2009          8,415           0           0           0         8,415          6,065        83,624         2,878
 2010          8,415           0           0           0         8,415          5,341        88,965         2,294
 2011          8,414           0           0           0         8,414          4,654        93,619         1,810
 2012          8,415           0           0           0         8,415          4,000        97,619         1,409
 2013          8,415           0           0           0         8,415          3,380       100,999         1,077
 2014          8,414           0           0           0         8,414          2,790       103,789           805
 2015          8,415           0           0           0         8,415          2,229       106,018           583
 2016          8,414           0           0           0         8,414          1,697       107,715           401

 SUBTOT      126,219           0           0           0       126,219        107,715                      71,155
 REMAIN       25,945           0           0           0        25,945          2,160       109,875           440
 TOTAL       152,164           0           0           0       152,164        109,875                      71,595

   LIFE OF EVALUATION IS 18.08 YEARS.
   FINAL PRODUCTION RATE: 89 BBLS/MO



                                 TENGASCO, INC.                        TABLE 46
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 IRVIN FIELD, ELLIS COUNTY, KANSAS                                                     OIL LEASE
   TENGASCO, INC. - OPERATOR   8-T14S-R19W                                             PROVED
     KINDERKNECHT -B- #4   (ARBUCKLE)                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         1,747
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         1,684
 REMARKS -                                                                                 15.00% -         1,625
                                                                                           20.00% -         1,569
                                                                                           25.00% -         1,517




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         1,405           0           0           1,230           0           0.000      17.24     0.00
 2003     2         1,356           0           0           1,186           0           0.000      17.24     0.00
 2004     2           332           0           0             290           0           0.000      17.24     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,093           0           0           2,706           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,093           0           0           2,706           0           0.000      17.24     0.00

 CUMULATIVE       135,568           0           0
 ULTIMATE         138,661           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           21,198           0             0            0        21,198         918           0        20,280
 2003           20,456           0             0            0        20,456         886           0        19,570
 2004            5,001           0             0            0         5,001         216           0         4,785
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        46,655           0             0            0        46,655       2,020           0        44,635
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          46,655           0             0            0        46,655       2,020           0        44,635





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         19,032           0           0           0        19,032          1,248         1,248         1,194
 2003         19,032           0           0           0        19,032            538         1,786           468
 2004          4,758           0           0           0         4,758             27         1,813            22
 2005              0           0           0           0             0              0         1,813             0
 2006              0           0           0           0             0              0         1,813             0
 2007              0           0           0           0             0              0         1,813             0
 2008              0           0           0           0             0              0         1,813             0
 2009              0           0           0           0             0              0         1,813             0
 2010              0           0           0           0             0              0         1,813             0
 2011              0           0           0           0             0              0         1,813             0
 2012              0           0           0           0             0              0         1,813             0
 2013              0           0           0           0             0              0         1,813             0
 2014              0           0           0           0             0              0         1,813             0
 2015              0           0           0           0             0              0         1,813             0
 2016              0           0           0           0             0              0         1,813             0

 SUBTOT       42,822           0           0           0        42,822          1,813                       1,684
 REMAIN            0           0           0           0             0              0         1,813             0
 TOTAL        42,822           0           0           0        42,822          1,813                       1,684


   LIFE OF EVALUATION IS 2.25 YEARS.
   FINAL PRODUCTION RATE: 110 BBLS/MO


                             TENGASCO, INC. TABLE 47
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 KRAUS FIELD, ELLIS COUNTY, KANSAS                                                     OIL LEASE
   TENGASCO, INC. - OPERATOR   22-T14S-R19W                                            PROVED
     KRAUS -A- #2                                                                      PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820310                         17.24                               5.00% -       185,806
 FINAL   -   1.000000  0.820310                         17.24                              10.00% -       155,624
 REMARKS -                                                                                 15.00% -       132,884
                                                                                           20.00% -       115,378
                                                                                           25.00% -       101,625




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         5,478           0           0           4,494           0           0.000      17.24     0.00
 2003     3         5,204           0           0           4,269           0           0.000      17.24     0.00
 2004     3         4,944           0           0           4,055           0           0.000      17.24     0.00
 2005     3         4,697           0           0           3,853           0           0.000      17.24     0.00
 2006     3         4,462           0           0           3,660           0           0.000      17.24     0.00
 2007     3         4,238           0           0           3,477           0           0.000      17.24     0.00
 2008     3         4,027           0           0           3,304           0           0.000      17.24     0.00
 2009     3         3,826           0           0           3,138           0           0.000      17.24     0.00
 2010     3         3,634           0           0           2,981           0           0.000      17.24     0.00
 2011     3         3,453           0           0           2,832           0           0.000      17.24     0.00
 2012     3         3,279           0           0           2,690           0           0.000      17.24     0.00
 2013     3         3,116           0           0           2,556           0           0.000      17.24     0.00
 2014     3         2,960           0           0           2,429           0           0.000      17.24     0.00
 2015     3         1,425           0           0           1,168           0           0.000      17.24     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         54,743           0           0          44,906           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             54,743           0           0          44,906           0           0.000      17.24     0.00

 CUMULATIVE       340,625           0           0
 ULTIMATE         395,368           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           77,471           0             0            0        77,471       3,354           0        74,117
 2003           73,598           0             0            0        73,598       3,187           0        70,411
 2004           69,917           0             0            0        69,917       3,028           0        66,889
 2005           66,422           0             0            0        66,422       2,876           0        63,546
 2006           63,100           0             0            0        63,100       2,732           0        60,368
 2007           59,946           0             0            0        59,946       2,596           0        57,350
 2008           56,948           0             0            0        56,948       2,466           0        54,482
 2009           54,101           0             0            0        54,101       2,342           0        51,759
 2010           51,396           0             0            0        51,396       2,226           0        49,170
 2011           48,826           0             0            0        48,826       2,114           0        46,712
 2012           46,385           0             0            0        46,385       2,008           0        44,377
 2013           44,066           0             0            0        44,066       1,908           0        42,158
 2014           41,862           0             0            0        41,862       1,813           0        40,049
 2015           20,139           0             0            0        20,139         872           0        19,267
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       774,177           0             0            0       774,177      33,522           0       740,655
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         774,177           0             0            0       774,177      33,522           0       740,655





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         38,064           0           0           0        38,064         36,053        36,053        34,346
 2003         38,064           0           0           0        38,064         32,347        68,400        27,895
 2004         38,064           0           0           0        38,064         28,825        97,225        22,504
 2005         38,064           0           0           0        38,064         25,482       122,707        18,009
 2006         38,064           0           0           0        38,064         22,304       145,011        14,270
 2007         38,064           0           0           0        38,064         19,286       164,297        11,172
 2008         38,064           0           0           0        38,064         16,418       180,715         8,609
 2009         38,064           0           0           0        38,064         13,695       194,410         6,502
 2010         38,064           0           0           0        38,064         11,106       205,516         4,775
 2011         38,064           0           0           0        38,064          8,648       214,164         3,367
 2012         38,064           0           0           0        38,064          6,313       220,477         2,226
 2013         38,064           0           0           0        38,064          4,094       224,571         1,309
 2014         38,064           0           0           0        38,064          1,985       226,556           577
 2015         19,032           0           0           0        19,032            235       226,791            63
 2016              0           0           0           0             0              0       226,791             0

 SUBTOT      513,864           0           0           0       513,864        226,791                     155,624
 REMAIN            0           0           0           0             0              0       226,791             0
 TOTAL       513,864           0           0           0       513,864        226,791                     155,624


   LIFE OF EVALUATION IS 13.50 YEARS.
   FINAL PRODUCTION RATE: 235 BBLS/MO


                                  TENGASCO, INC.                       TABLE 48
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 KRAUS FIELD, ELLIS COUNTY, KANSAS                                                     OIL LEASE
   TENGASCO, INC. - OPERATOR   16-T14S-R19W                                            PROVED
     KRAUS -B- #1   (ARBUCKLE)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -           757
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -           746
 REMARKS -                                                                                 15.00% -           735
                                                                                           20.00% -           725
                                                                                           25.00% -           715




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         1,115           0           0             976           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          1,115           0           0             976           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              1,115           0           0             976           0           0.000      17.24     0.00

 CUMULATIVE        97,307           0           0
 ULTIMATE          98,422           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           16,819           0             0            0        16,819         728           0        16,091
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        16,819           0             0            0        16,819         728           0        16,091
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          16,819           0             0            0        16,819         728           0        16,091





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002         15,323           0           0           0        15,323            768           768           746
 2003              0           0           0           0             0              0           768             0
 2004              0           0           0           0             0              0           768             0
 2005              0           0           0           0             0              0           768             0
 2006              0           0           0           0             0              0           768             0
 2007              0           0           0           0             0              0           768             0
 2008              0           0           0           0             0              0           768             0
 2009              0           0           0           0             0              0           768             0
 2010              0           0           0           0             0              0           768             0
 2011              0           0           0           0             0              0           768             0
 2012              0           0           0           0             0              0           768             0
 2013              0           0           0           0             0              0           768             0
 2014              0           0           0           0             0              0           768             0
 2015              0           0           0           0             0              0           768             0
 2016              0           0           0           0             0              0           768             0

 SUBTOT       15,323           0           0           0        15,323            768                         746
 REMAIN            0           0           0           0             0              0           768             0
 TOTAL        15,323           0           0           0        15,323            768                         746


   LIFE OF EVALUATION IS 0.92 YEARS.
   FINAL PRODUCTION RATE: 97 BBLS/MO

                                  TENGASCO, INC.                       TABLE 49
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 KRAUS FIELD, ELLIS COUNTY, KANSAS                                                     OIL LEASE
   TENGASCO, INC. - OPERATOR   27-T14S-R19W                                            PROVED
     KRAUS -I- #5   (ABCK-KSSC-LNSG)                                                   PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -        45,851
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -        41,600
 REMARKS -                                                                                 15.00% -        37,970
                                                                                           20.00% -        34,851
                                                                                           25.00% -        32,153



                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         2,321           0           0           1,904           0           0.000      17.24     0.00
 2003     2         2,060           0           0           1,690           0           0.000      17.24     0.00
 2004     2         1,840           0           0           1,509           0           0.000      17.24     0.00
 2005     2         1,654           0           0           1,357           0           0.000      17.24     0.00
 2006     2         1,495           0           0           1,227           0           0.000      17.24     0.00
 2007     2         1,358           0           0           1,113           0           0.000      17.24     0.00
 2008     2         1,238           0           0           1,016           0           0.000      17.24     0.00
 2009     2            99           0           0              81           0           0.000      17.24     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         12,065           0           0           9,897           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             12,065           0           0           9,897           0           0.000      17.24     0.00

 CUMULATIVE       206,314           0           0
 ULTIMATE         218,379           0           0



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           32,824           0             0            0        32,824       1,421           0        31,403
 2003           29,131           0             0            0        29,131       1,262           0        27,869
 2004           26,027           0             0            0        26,027       1,127           0        24,900
 2005           23,394           0             0            0        23,394       1,013           0        22,381
 2006           21,142           0             0            0        21,142         915           0        20,227
 2007           19,200           0             0            0        19,200         831           0        18,369
 2008           17,514           0             0            0        17,514         759           0        16,755
 2009            1,390           0             0            0         1,390          60           0         1,330
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       170,622           0             0            0       170,622       7,388           0       163,234
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         170,622           0             0            0       170,622       7,388           0       163,234




                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,864           0           0           0        15,864         15,539        15,539        14,821
 2003         15,864           0           0           0        15,864         12,005        27,544        10,366
 2004         15,864           0           0           0        15,864          9,036        36,580         7,065
 2005         15,864           0           0           0        15,864          6,517        43,097         4,614
 2006         15,864           0           0           0        15,864          4,363        47,460         2,799
 2007         15,864           0           0           0        15,864          2,505        49,965         1,458
 2008         15,864           0           0           0        15,864            891        50,856           473
 2009          1,322           0           0           0         1,322              8        50,864             4
 2010              0           0           0           0             0              0        50,864             0
 2011              0           0           0           0             0              0        50,864             0
 2012              0           0           0           0             0              0        50,864             0
 2013              0           0           0           0             0              0        50,864             0
 2014              0           0           0           0             0              0        50,864             0
 2015              0           0           0           0             0              0        50,864             0
 2016              0           0           0           0             0              0        50,864             0

 SUBTOT      112,370           0           0           0       112,370         50,864                      41,600
 REMAIN            0           0           0           0             0              0        50,864             0
 TOTAL       112,370           0           0           0       112,370         50,864                      41,600


   LIFE OF EVALUATION IS 7.08 YEARS.
   FINAL PRODUCTION RATE: 98 BBLS/MO


                                TENGASCO, INC.                         TABLE 50
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LEIKER EAST FIELD, ELLIS COUNTY, KANSAS                                               OIL LEASE
   TENGASCO, INC. - OPERATOR   14-T15S-R18W                                            PROVED
     LEIKER #1   (KSSC-LNSG)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.416670  0.364590                         17.24                               5.00% -        28,518
 FINAL   -   0.416670  0.364590                         17.24                              10.00% -        21,851
 REMARKS -                                                                                 15.00% -        17,538
                                                                                           20.00% -        14,581
                                                                                           25.00% -        12,451




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           929           0           0             339           0           0.000      17.24     0.00
 2003     1           883           0           0             322           0           0.000      17.24     0.00
 2004     1           840           0           0             306           0           0.000      17.24     0.00
 2005     1           799           0           0             291           0           0.000      17.24     0.00
 2006     1           760           0           0             277           0           0.000      17.24     0.00
 2007     1           722           0           0             264           0           0.000      17.24     0.00
 2008     1           687           0           0             250           0           0.000      17.24     0.00
 2009     1           654           0           0             238           0           0.000      17.24     0.00
 2010     1           621           0           0             227           0           0.000      17.24     0.00
 2011     1           591           0           0             215           0           0.000      17.24     0.00
 2012     1           562           0           0             205           0           0.000      17.24     0.00
 2013     1           535           0           0             195           0           0.000      17.24     0.00
 2014     1           508           0           0             185           0           0.000      17.24     0.00
 2015     1           483           0           0             177           0           0.000      17.24     0.00
 2016     1           460           0           0             167           0           0.000      17.24     0.00

 SUB-TOTAL         10,034           0           0           3,658           0           0.000      17.24     0.00
 REMAINDER          3,363           0           0           1,226           0           0.000      17.24     0.00
 TOTAL             13,397           0           0           4,884           0           0.000      17.24     0.00

 CUMULATIVE        26,029           0           0
 ULTIMATE          39,426           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            5,838           0             0            0         5,838         253           0         5,585
 2003            5,552           0             0            0         5,552         240           0         5,312
 2004            5,280           0             0            0         5,280         229           0         5,051
 2005            5,022           0             0            0         5,022         217           0         4,805
 2006            4,775           0             0            0         4,775         207           0         4,568
 2007            4,541           0             0            0         4,541         197           0         4,344
 2008            4,319           0             0            0         4,319         187           0         4,132
 2009            4,107           0             0            0         4,107         177           0         3,930
 2010            3,906           0             0            0         3,906         170           0         3,736
 2011            3,715           0             0            0         3,715         160           0         3,555
 2012            3,532           0             0            0         3,532         153           0         3,379
 2013            3,360           0             0            0         3,360         146           0         3,214
 2014            3,194           0             0            0         3,194         138           0         3,056
 2015            3,039           0             0            0         3,039         132           0         2,907
 2016            2,889           0             0            0         2,889         125           0         2,764

 SUB-TOT        63,069           0             0            0        63,069       2,731           0        60,338
 REMAIN         21,138           0             0            0        21,138         915           0        20,223
 TOTAL          84,207           0             0            0        84,207       3,646           0        80,561



                                       1



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,680           0           0           0         1,680          3,905         3,905         3,719
 2003          1,680           0           0           0         1,680          3,632         7,537         3,131
 2004          1,680           0           0           0         1,680          3,371        10,908         2,631
 2005          1,680           0           0           0         1,680          3,125        14,033         2,208
 2006          1,680           0           0           0         1,680          2,888        16,921         1,847
 2007          1,680           0           0           0         1,680          2,664        19,585         1,542
 2008          1,680           0           0           0         1,680          2,452        22,037         1,285
 2009          1,680           0           0           0         1,680          2,250        24,287         1,067
 2010          1,680           0           0           0         1,680          2,056        26,343           883
 2011          1,680           0           0           0         1,680          1,875        28,218           729
 2012          1,680           0           0           0         1,680          1,699        29,917           598
 2013          1,680           0           0           0         1,680          1,534        31,451           488
 2014          1,680           0           0           0         1,680          1,376        32,827           397
 2015          1,680           0           0           0         1,680          1,227        34,054           320
 2016          1,680           0           0           0         1,680          1,084        35,138           257

 SUBTOT       25,200           0           0           0        25,200         35,138                      21,102
 REMAIN       15,820           0           0           0        15,820          4,403        39,541           749
 TOTAL        41,020           0           0           0        41,020         39,541                      21,851


   LIFE OF EVALUATION IS 24.42 YEARS.
   FINAL PRODUCTION RATE: 23 BBLS/MO


                                  TENGASCO, INC.                       TABLE 51
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LEONHARDT SOUTHEAST FIELD, ELLIS COUNTY, KANSAS                                       OIL LEASE
   TENGASCO, INC. - OPERATOR   28-T14S-R18W                                            PROVED
     KRAUS #1   (KSSC-LNSG)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        52,081           0           0
 ULTIMATE          52,081           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



                                       2



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 52
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
   TENGASCO, INC. - OPERATOR   23-T16S-R18W                                            PROVED
     DECHANT -B- #2   (KANSAS CITY)                                                    PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          45
 ULTIMATE               0           0          45




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



                                       3



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                  TENGASCO, INC.                        TABLE 53
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
   TENGASCO, INC. - OPERATOR   23-T16S-R18W                                            PROVED
     GRAHAM #1   (KC-LANSING)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         127
 ULTIMATE               0           0         127




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



                                       4



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                             TENGASCO, INC.                            TABLE 54
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
   TENGASCO, INC. - OPERATOR   26-T16S-R18W                                            PROVED
     LEGLEITER -B- #1   (KSSC-LNSG)                                                    PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          30    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          30        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



                                       5



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                  TENGASCO, INC.                       TABLE 55
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T16S-R18W                                            PROVED
     LEGLEITER -C- #1   (PLEASONTON)                                                   PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          15
 ULTIMATE               0           0          15




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



                                       6



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO

                                 TENGASCO, INC.                         TABLE 56
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T16S-R18W                                            PROVED
     LEGLEITER -C- #2   (PLEASONTON)                                                   SHUT-IN

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        78,408
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        61,359
 REMARKS -                                                                                 15.00% -        49,850
                                                                                           20.00% -        41,716
                                                                                           25.00% -        35,736



                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          10               0           0           7.886       0.00     2.13
 2003     1             0           0          10               0           0           8.184       0.00     2.13
 2004     1             0           0          10               0           0           7.768       0.00     2.13
 2005     1             0           0           9               0           0           7.374       0.00     2.13
 2006     1             0           0           8               0           0           6.999       0.00     2.13
 2007     1             0           0           9               0           0           6.644       0.00     2.13
 2008     1             0           0           8               0           0           6.307       0.00     2.13
 2009     1             0           0           7               0           0           5.986       0.00     2.13
 2010     1             0           0           7               0           0           5.682       0.00     2.13
 2011     1             0           0           7               0           0           5.394       0.00     2.13
 2012     1             0           0           6               0           0           5.120       0.00     2.13
 2013     1             0           0           6               0           0           4.860       0.00     2.13
 2014     1             0           0           6               0           0           4.613       0.00     2.13
 2015     1             0           0           5               0           0           4.379       0.00     2.13
 2016     1             0           0           5               0           0           4.156       0.00     2.13

 SUB-TOTAL              0           0         113               0           0          91.352       0.00     2.13
 REMAINDER              0           0          26               0           0          20.863       0.00     2.13
 TOTAL                  0           0         139               0           0         112.215       0.00     2.13

 CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         139        SHRINKAGE FACTOR =   8.00 %



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        16,797            0        16,797           0         299        16,498
 2003                0           0        17,432            0        17,432           0         310        17,122
 2004                0           0        16,546            0        16,546           0         295        16,251
 2005                0           0        15,706            0        15,706           0         279        15,427
 2006                0           0        14,909            0        14,909           0         266        14,643
 2007                0           0        14,151            0        14,151           0         252        13,899
 2008                0           0        13,433            0        13,433           0         239        13,194
 2009                0           0        12,751            0        12,751           0         227        12,524
 2010                0           0        12,103            0        12,103           0         215        11,888
 2011                0           0        11,489            0        11,489           0         205        11,284
 2012                0           0        10,906            0        10,906           0         194        10,712
 2013                0           0        10,351            0        10,351           0         184        10,167
 2014                0           0         9,826            0         9,826           0         175         9,651
 2015                0           0         9,327            0         9,327           0         166         9,161
 2016                0           0         8,853            0         8,853           0         158         8,695

 SUB-TOT             0           0       194,580            0       194,580           0       3,464       191,116
 REMAIN              0           0        44,439            0        44,439           0         791        43,648
 TOTAL               0           0       239,019            0       239,019           0       4,255       234,764




                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          5,687           0           0           0         5,687         10,811        10,811        10,252
 2003          6,204           0           0           0         6,204         10,918        21,729         9,414
 2004          6,204           0           0           0         6,204         10,047        31,776         7,841
 2005          6,204           0           0           0         6,204          9,223        40,999         6,516
 2006          6,204           0           0           0         6,204          8,439        49,438         5,397
 2007          6,204           0           0           0         6,204          7,695        57,133         4,455
 2008          6,204           0           0           0         6,204          6,990        64,123         3,664
 2009          6,204           0           0           0         6,204          6,320        70,443         2,998
 2010          6,204           0           0           0         6,204          5,684        76,127         2,441
 2011          6,204           0           0           0         6,204          5,080        81,207         1,976
 2012          6,204           0           0           0         6,204          4,508        85,715         1,586
 2013          6,204           0           0           0         6,204          3,963        89,678         1,263
 2014          6,204           0           0           0         6,204          3,447        93,125           994
 2015          6,204           0           0           0         6,204          2,957        96,082           773
 2016          6,204           0           0           0         6,204          2,491        98,573           588

 SUBTOT       92,543           0           0           0        92,543         98,573                      60,158
 REMAIN       37,224           0           0           0        37,224          6,424       104,997         1,201
 TOTAL       129,767           0           0           0       129,767        104,997                      61,359


   LIFE OF EVALUATION IS 21.00 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO


                                  TENGASCO, INC.                       TABLE 57
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 LITTLE RIO FIELD, RICE COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   19-T19S-R6W                                             PROVED
     WHITEMAN-HOLLAND #1   (KSSC-LNSG-MSSP)                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -        84,534
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -        67,709
 REMARKS -                                                                                 15.00% -        55,933
                                                                                           20.00% -        47,387
                                                                                           25.00% -        40,982




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         1,845           0           0           1,513           0           0.000      17.24     0.00
 2003     3         1,765           0           0           1,449           0           0.000      17.24     0.00
 2004     3         1,690           0           0           1,386           0           0.000      17.24     0.00
 2005     3         1,617           0           0           1,326           0           0.000      17.24     0.00
 2006     3         1,547           0           0           1,269           0           0.000      17.24     0.00
 2007     3         1,481           0           0           1,215           0           0.000      17.24     0.00
 2008     3         1,417           0           0           1,163           0           0.000      17.24     0.00
 2009     3         1,357           0           0           1,112           0           0.000      17.24     0.00
 2010     3         1,298           0           0           1,065           0           0.000      17.24     0.00
 2011     3         1,242           0           0           1,019           0           0.000      17.24     0.00
 2012     3         1,188           0           0             975           0           0.000      17.24     0.00
 2013     3         1,138           0           0             933           0           0.000      17.24     0.00
 2014     3         1,089           0           0             893           0           0.000      17.24     0.00
 2015     3         1,042           0           0             855           0           0.000      17.24     0.00
 2016     3           997           0           0             818           0           0.000      17.24     0.00

 SUB-TOTAL         20,713           0           0          16,991           0           0.000      17.24     0.00
 REMAINDER          2,812           0           0           2,307           0           0.000      17.24     0.00
 TOTAL             23,525           0           0          19,298           0           0.000      17.24     0.00

 CUMULATIVE        59,990           0           0
 ULTIMATE          83,515           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           26,090           0             0            0        26,090       1,130           0        24,960
 2003           24,968           0             0            0        24,968       1,081           0        23,887
 2004           23,895           0             0            0        23,895       1,034           0        22,861
 2005           22,867           0             0            0        22,867         991           0        21,876
 2006           21,884           0             0            0        21,884         947           0        20,937
 2007           20,943           0             0            0        20,943         907           0        20,036
 2008           20,042           0             0            0        20,042         868           0        19,174
 2009           19,180           0             0            0        19,180         830           0        18,350
 2010           18,356           0             0            0        18,356         795           0        17,561
 2011           17,567           0             0            0        17,567         761           0        16,806
 2012           16,811           0             0            0        16,811         728           0        16,083
 2013           16,088           0             0            0        16,088         696           0        15,392
 2014           15,396           0             0            0        15,396         667           0        14,729
 2015           14,735           0             0            0        14,735         638           0        14,097
 2016           14,100           0             0            0        14,100         611           0        13,489

 SUB-TOT       292,922           0             0            0       292,922      12,684           0       280,238
 REMAIN         39,773           0             0            0        39,773       1,722           0        38,051
 TOTAL         332,695           0             0            0       332,695      14,406           0       318,289



                                       7



                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         11,544           0           0           0        11,544         13,416        13,416        12,778
 2003         11,544           0           0           0        11,544         12,343        25,759        10,642
 2004         11,544           0           0           0        11,544         11,317        37,076         8,833
 2005         11,544           0           0           0        11,544         10,332        47,408         7,300
 2006         11,544           0           0           0        11,544          9,393        56,801         6,008
 2007         11,544           0           0           0        11,544          8,492        65,293         4,917
 2008         11,544           0           0           0        11,544          7,630        72,923         3,999
 2009         11,544           0           0           0        11,544          6,806        79,729         3,229
 2010         11,544           0           0           0        11,544          6,017        85,746         2,585
 2011         11,544           0           0           0        11,544          5,262        91,008         2,046
 2012         11,544           0           0           0        11,544          4,539        95,547         1,598
 2013         11,544           0           0           0        11,544          3,848        99,395         1,227
 2014         11,544           0           0           0        11,544          3,185       102,580           919
 2015         11,544           0           0           0        11,544          2,553       105,133           667
 2016         11,544           0           0           0        11,544          1,945       107,078           460

 SUBTOT      173,160           0           0           0       173,160        107,078                      67,208
 REMAIN       35,593           0           0           0        35,593          2,458       109,536           501
 TOTAL       208,753           0           0           0       208,753        109,536                      67,709


   LIFE OF EVALUATION IS 18.08 YEARS.
   FINAL PRODUCTION RATE: 71 BBLS/MO


                             TENGASCO, INC.                            TABLE 58
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MARCOTTE FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T10S-R20W                                            PROVED
     CROFFOOT #3   (ARBUCKLE)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.861328                         17.24                               5.00% -       147,505
 FINAL   -   1.000000  0.861328                         17.24                              10.00% -       121,653
 REMARKS -                                                                                 15.00% -       102,648
                                                                                           20.00% -        88,311
                                                                                           25.00% -        77,235




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     5         3,979           0           0           3,428           0           0.000      17.24     0.00
 2003     5         3,809           0           0           3,280           0           0.000      17.24     0.00
 2004     5         3,644           0           0           3,139           0           0.000      17.24     0.00
 2005     5         3,488           0           0           3,004           0           0.000      17.24     0.00
 2006     5         3,338           0           0           2,875           0           0.000      17.24     0.00
 2007     5         3,194           0           0           2,751           0           0.000      17.24     0.00
 2008     5         3,057           0           0           2,634           0           0.000      17.24     0.00
 2009     5         2,926           0           0           2,519           0           0.000      17.24     0.00
 2010     5         2,800           0           0           2,412           0           0.000      17.24     0.00
 2011     5         2,679           0           0           2,308           0           0.000      17.24     0.00
 2012     5         2,564           0           0           2,208           0           0.000      17.24     0.00
 2013     5         2,454           0           0           2,114           0           0.000      17.24     0.00
 2014     5         2,348           0           0           2,023           0           0.000      17.24     0.00
 2015     5         2,248           0           0           1,935           0           0.000      17.24     0.00
 2016     5         1,798           0           0           1,550           0           0.000      17.24     0.00

 SUB-TOTAL         44,326           0           0          38,180           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             44,326           0           0          38,180           0           0.000      17.24     0.00

 CUMULATIVE       222,419           0           0
 ULTIMATE         266,745           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           59,092           0             0            0        59,092       2,559           0        56,533
 2003           56,550           0             0            0        56,550       2,448           0        54,102
 2004           54,120           0             0            0        54,120       2,344           0        51,776
 2005           51,791           0             0            0        51,791       2,242           0        49,549
 2006           49,565           0             0            0        49,565       2,146           0        47,419
 2007           47,434           0             0            0        47,434       2,054           0        45,380
 2008           45,394           0             0            0        45,394       1,966           0        43,428
 2009           43,442           0             0            0        43,442       1,881           0        41,561
 2010           41,574           0             0            0        41,574       1,800           0        39,774
 2011           39,786           0             0            0        39,786       1,723           0        38,063
 2012           38,076           0             0            0        38,076       1,648           0        36,428
 2013           36,438           0             0            0        36,438       1,578           0        34,860
 2014           34,872           0             0            0        34,872       1,510           0        33,362
 2015           33,371           0             0            0        33,371       1,445           0        31,926
 2016           26,712           0             0            0        26,712       1,157           0        25,555

 SUB-TOT       658,217           0             0            0       658,217      28,501           0       629,716
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         658,217           0             0            0       658,217      28,501           0       629,716



                                       8



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         30,072           0           0           0        30,072         26,461        26,461        25,206
 2003         30,072           0           0           0        30,072         24,030        50,491        20,721
 2004         30,072           0           0           0        30,072         21,704        72,195        16,942
 2005         30,072           0           0           0        30,072         19,477        91,672        13,763
 2006         30,072           0           0           0        30,072         17,347       109,019        11,097
 2007         30,072           0           0           0        30,072         15,308       124,327         8,866
 2008         30,072           0           0           0        30,072         13,356       137,683         7,002
 2009         30,072           0           0           0        30,072         11,489       149,172         5,453
 2010         30,072           0           0           0        30,072          9,702       158,874         4,169
 2011         30,072           0           0           0        30,072          7,991       166,865         3,110
 2012         30,072           0           0           0        30,072          6,356       173,221         2,239
 2013         30,072           0           0           0        30,072          4,788       178,009         1,528
 2014         30,072           0           0           0        30,072          3,290       181,299           951
 2015         30,072           0           0           0        30,072          1,854       183,153           487
 2016         25,060           0           0           0        25,060            495       183,648           119

 SUBTOT      446,068           0           0           0       446,068        183,648                     121,653
 REMAIN            0           0           0           0             0              0       183,648             0
 TOTAL       446,068           0           0           0       446,068        183,648                     121,653


   LIFE OF EVALUATION IS 14.83 YEARS.
   FINAL PRODUCTION RATE: 177 BBLS/MO


                               TENGASCO, INC.                          TABLE 59
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MARCOTTE FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T10S-R20W                                            PROVED
     CROFFOOT -A- 2   (ARBUCKLE)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.860369                         17.24                               5.00% -         4,510
 FINAL   -   1.000000  0.860369                         17.24                              10.00% -         4,217
 REMARKS -                                                                                 15.00% -         3,954
                                                                                           20.00% -         3,717
                                                                                           25.00% -         3,502




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     4           932           0           0             802           0           0.000      17.24     0.00
 2003     4           894           0           0             769           0           0.000      17.24     0.00
 2004     4           856           0           0             736           0           0.000      17.24     0.00
 2005     4           819           0           0             706           0           0.000      17.24     0.00
 2006     4           266           0           0             228           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,767           0           0           3,241           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,767           0           0           3,241           0           0.000      17.24     0.00

 CUMULATIVE       218,456           0           0
 ULTIMATE         222,223           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           13,831           0             0            0        13,831         599           0        13,232
 2003           13,251           0             0            0        13,251         574           0        12,677
 2004           12,694           0             0            0        12,694         549           0        12,145
 2005           12,160           0             0            0        12,160         527           0        11,633
 2006            3,939           0             0            0         3,939         170           0         3,769
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        55,875           0             0            0        55,875       2,419           0        53,456
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          55,875           0             0            0        55,875       2,419           0        53,456



                                       9



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         11,220           0           0           0        11,220          2,012         2,012         1,920
 2003         11,220           0           0           0        11,220          1,457         3,469         1,259
 2004         11,220           0           0           0        11,220            925         4,394           724
 2005         11,220           0           0           0        11,220            413         4,807           295
 2006          3,740           0           0           0         3,740             29         4,836            19
 2007              0           0           0           0             0              0         4,836             0
 2008              0           0           0           0             0              0         4,836             0
 2009              0           0           0           0             0              0         4,836             0
 2010              0           0           0           0             0              0         4,836             0
 2011              0           0           0           0             0              0         4,836             0
 2012              0           0           0           0             0              0         4,836             0
 2013              0           0           0           0             0              0         4,836             0
 2014              0           0           0           0             0              0         4,836             0
 2015              0           0           0           0             0              0         4,836             0
 2016              0           0           0           0             0              0         4,836             0

 SUBTOT       48,620           0           0           0        48,620          4,836                       4,217
 REMAIN            0           0           0           0             0              0         4,836             0
 TOTAL        48,620           0           0           0        48,620          4,836                       4,217


   LIFE OF EVALUATION IS 4.33 YEARS.
   FINAL PRODUCTION RATE: 66 BBLS/MO


                                  TENGASCO, INC.                       TABLE 60
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MARCOTTE FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T10S-R20W                                            PROVED
     CROFFOOT -B- 1   (ARBUCKLE)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -        10,133
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -         9,748
 REMARKS -                                                                                 15.00% -         9,386
                                                                                           20.00% -         9,045
                                                                                           25.00% -         8,725




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     6         6,753           0           0           5,540           0           0.000      17.24     0.00
 2003     6         6,483           0           0           5,318           0           0.000      17.24     0.00
 2004     6         2,624           0           0           2,152           0           0.000      17.24     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         15,860           0           0          13,010           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             15,860           0           0          13,010           0           0.000      17.24     0.00

 CUMULATIVE       502,080           0           0
 ULTIMATE         517,940           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           95,505           0             0            0        95,505       4,135           0        91,370
 2003           91,684           0             0            0        91,684       3,970           0        87,714
 2004           37,111           0             0            0        37,111       1,607           0        35,504
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       224,300           0             0            0       224,300       9,712           0       214,588
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         224,300           0             0            0       224,300       9,712           0       214,588



                                       10



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         84,432           0           0           0        84,432          6,938         6,938         6,633
 2003         84,432           0           0           0        84,432          3,282        10,220         2,853
 2004         35,180           0           0           0        35,180            324        10,544           262
 2005              0           0           0           0             0              0        10,544             0
 2006              0           0           0           0             0              0        10,544             0
 2007              0           0           0           0             0              0        10,544             0
 2008              0           0           0           0             0              0        10,544             0
 2009              0           0           0           0             0              0        10,544             0
 2010              0           0           0           0             0              0        10,544             0
 2011              0           0           0           0             0              0        10,544             0
 2012              0           0           0           0             0              0        10,544             0
 2013              0           0           0           0             0              0        10,544             0
 2014              0           0           0           0             0              0        10,544             0
 2015              0           0           0           0             0              0        10,544             0
 2016              0           0           0           0             0              0        10,544             0

 SUBTOT      204,044           0           0           0       204,044         10,544                       9,748
 REMAIN            0           0           0           0             0              0        10,544             0
 TOTAL       204,044           0           0           0       204,044         10,544                       9,748


   LIFE OF EVALUATION IS 2.42 YEARS.
   FINAL PRODUCTION RATE: 521 BBLS/MO


                             TENGASCO, INC.                            TABLE 61
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MARCOTTE FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T10S-R20W                                            PROVED
     CROFFOOT -C- 1   (ARBUCKLE)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.806641                         17.24                               5.00% -           204
 FINAL   -   1.000000  0.806641                         17.24                              10.00% -           202
 REMARKS -                                                                                 15.00% -           199
                                                                                           20.00% -           197
                                                                                           25.00% -           194




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2           882           0           0             712           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            882           0           0             712           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                882           0           0             712           0           0.000      17.24     0.00

 CUMULATIVE       122,866           0           0
 ULTIMATE         123,748           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,267           0             0            0        12,267         531           0        11,736
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        12,267           0             0            0        12,267         531           0        11,736
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          12,267           0             0            0        12,267         531           0        11,736



                                       11



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002         11,529           0           0           0        11,529            207           207           202
 2003              0           0           0           0             0              0           207             0
 2004              0           0           0           0             0              0           207             0
 2005              0           0           0           0             0              0           207             0
 2006              0           0           0           0             0              0           207             0
 2007              0           0           0           0             0              0           207             0
 2008              0           0           0           0             0              0           207             0
 2009              0           0           0           0             0              0           207             0
 2010              0           0           0           0             0              0           207             0
 2011              0           0           0           0             0              0           207             0
 2012              0           0           0           0             0              0           207             0
 2013              0           0           0           0             0              0           207             0
 2014              0           0           0           0             0              0           207             0
 2015              0           0           0           0             0              0           207             0
 2016              0           0           0           0             0              0           207             0

 SUBTOT       11,529           0           0           0        11,529            207                         202
 REMAIN            0           0           0           0             0              0           207             0
 TOTAL        11,529           0           0           0        11,529            207                         202


   LIFE OF EVALUATION IS 0.75 YEARS.
   FINAL PRODUCTION RATE: 97 BBLS/MO


                                 TENGASCO, INC.                         TABLE 62
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MARCOTTE FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR 17-T10S-R19W                                              PROVED
     DICK #1 (ARBUCKLE)                                                                PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       175,655
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -       154,914
 REMARKS -                                                                                 15.00% -       138,598
                                                                                           20.00% -       125,504
                                                                                           25.00% -       114,804




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         5,467           0           0           4,784           0           0.000      17.24     0.00
 2003     3         3,830           0           0           3,351           0           0.000      17.24     0.00
 2004     3         3,170           0           0           2,774           0           0.000      17.24     0.00
 2005     3         2,738           0           0           2,395           0           0.000      17.24     0.00
 2006     3         2,427           0           0           2,124           0           0.000      17.24     0.00
 2007     3         2,193           0           0           1,919           0           0.000      17.24     0.00
 2008     3         2,008           0           0           1,757           0           0.000      17.24     0.00
 2009     3         1,858           0           0           1,626           0           0.000      17.24     0.00
 2010     3         1,733           0           0           1,516           0           0.000      17.24     0.00
 2011     3         1,626           0           0           1,423           0           0.000      17.24     0.00
 2012     3         1,536           0           0           1,344           0           0.000      17.24     0.00
 2013     3         1,456           0           0           1,274           0           0.000      17.24     0.00
 2014     3         1,387           0           0           1,213           0           0.000      17.24     0.00
 2015     3           336           0           0             295           0           0.000      17.24     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         31,765           0           0          27,795           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             31,765           0           0          27,795           0           0.000      17.24     0.00

 CUMULATIVE        61,636           0           0
 ULTIMATE          93,401           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           82,477           0             0            0        82,477       3,571           0        78,906
 2003           57,769           0             0            0        57,769       2,502           0        55,267
 2004           47,823           0             0            0        47,823       2,070           0        45,753
 2005           41,294           0             0            0        41,294       1,788           0        39,506
 2006           36,622           0             0            0        36,622       1,586           0        35,036
 2007           33,081           0             0            0        33,081       1,433           0        31,648
 2008           30,290           0             0            0        30,290       1,311           0        28,979
 2009           28,022           0             0            0        28,022       1,213           0        26,809
 2010           26,136           0             0            0        26,136       1,132           0        25,004
 2011           24,538           0             0            0        24,538       1,063           0        23,475
 2012           23,165           0             0            0        23,165       1,003           0        22,162
 2013           21,969           0             0            0        21,969         951           0        21,018
 2014           20,915           0             0            0        20,915         906           0        20,009
 2015            5,079           0             0            0         5,079         219           0         4,860
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       479,180           0             0            0       479,180      20,748           0       458,432
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         479,180           0             0            0       479,180      20,748           0       458,432





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         19,308           0           0           0        19,308         59,598        59,598        57,180
 2003         19,308           0           0           0        19,308         35,959        95,557        31,068
 2004         19,308           0           0           0        19,308         26,445       122,002        20,673
 2005         19,308           0           0           0        19,308         20,198       142,200        14,290
 2006         19,308           0           0           0        19,308         15,728       157,928        10,072
 2007         19,308           0           0           0        19,308         12,340       170,268         7,153
 2008         19,308           0           0           0        19,308          9,671       179,939         5,074
 2009         19,308           0           0           0        19,308          7,501       187,440         3,564
 2010         19,308           0           0           0        19,308          5,696       193,136         2,450
 2011         19,308           0           0           0        19,308          4,167       197,303         1,623
 2012         19,308           0           0           0        19,308          2,854       200,157         1,007
 2013         19,308           0           0           0        19,308          1,710       201,867           547
 2014         19,308           0           0           0        19,308            701       202,568           204
 2015          4,827           0           0           0         4,827             33       202,601             9
 2016              0           0           0           0             0              0       202,601             0

 SUBTOT      255,831           0           0           0       255,831        202,601                     154,914
 REMAIN            0           0           0           0             0              0       202,601             0
 TOTAL       255,831           0           0           0       255,831        202,601                     154,914

   LIFE OF EVALUATION IS 13.25 YEARS.
   FINAL PRODUCTION RATE: 112 BBLS/MO





                                  TENGASCO, INC.                       TABLE 63
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MCHALE FIELD, ROOKS COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   17-T9S-R18W                                             PROVED
     HARRISON -A- #1   (ARBUCKLE)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       312,395
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -       254,859
 REMARKS -                                                                                 15.00% -       213,425
                                                                                           20.00% -       182,666
                                                                                           25.00% -       159,191




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     5         6,306           0           0           5,518           0           0.000      17.24     0.00
 2003     5         5,959           0           0           5,214           0           0.000      17.24     0.00
 2004     5         5,631           0           0           4,927           0           0.000      17.24     0.00
 2005     5         5,322           0           0           4,656           0           0.000      17.24     0.00
 2006     5         5,029           0           0           4,401           0           0.000      17.24     0.00
 2007     5         4,752           0           0           4,158           0           0.000      17.24     0.00
 2008     5         4,491           0           0           3,930           0           0.000      17.24     0.00
 2009     5         4,244           0           0           3,713           0           0.000      17.24     0.00
 2010     5         4,010           0           0           3,509           0           0.000      17.24     0.00
 2011     5         3,790           0           0           3,316           0           0.000      17.24     0.00
 2012     5         3,581           0           0           3,134           0           0.000      17.24     0.00
 2013     5         3,385           0           0           2,961           0           0.000      17.24     0.00
 2014     5         3,198           0           0           2,799           0           0.000      17.24     0.00
 2015     5         3,023           0           0           2,645           0           0.000      17.24     0.00
 2016     5         2,856           0           0           2,499           0           0.000      17.24     0.00

 SUB-TOTAL         65,577           0           0          57,380           0           0.000      17.24     0.00
 REMAINDER          3,779           0           0           3,307           0           0.000      17.24     0.00
 TOTAL             69,356           0           0          60,687           0           0.000      17.24     0.00

 CUMULATIVE       251,491           0           0
 ULTIMATE         320,847           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           95,124           0             0            0        95,124       4,119           0        91,005
 2003           89,891           0             0            0        89,891       3,892           0        85,999
 2004           84,948           0             0            0        84,948       3,678           0        81,270
 2005           80,276           0             0            0        80,276       3,476           0        76,800
 2006           75,860           0             0            0        75,860       3,285           0        72,575
 2007           71,688           0             0            0        71,688       3,104           0        68,584
 2008           67,745           0             0            0        67,745       2,934           0        64,811
 2009           64,020           0             0            0        64,020       2,772           0        61,248
 2010           60,498           0             0            0        60,498       2,619           0        57,879
 2011           57,171           0             0            0        57,171       2,476           0        54,695
 2012           54,026           0             0            0        54,026       2,339           0        51,687
 2013           51,055           0             0            0        51,055       2,211           0        48,844
 2014           48,247           0             0            0        48,247       2,089           0        46,158
 2015           45,593           0             0            0        45,593       1,974           0        43,619
 2016           43,086           0             0            0        43,086       1,866           0        41,220

 SUB-TOT       989,228           0             0            0       989,228      42,834           0       946,394
 REMAIN         57,013           0             0            0        57,013       2,468           0        54,545
 TOTAL       1,046,241           0             0            0     1,046,241      45,302           0     1,000,939





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         36,912           0           0           0        36,912         54,093        54,093        51,527
 2003         36,912           0           0           0        36,912         49,087       103,180        42,328
 2004         36,912           0           0           0        36,912         44,358       147,538        34,625
 2005         36,912           0           0           0        36,912         39,888       187,426        28,186
 2006         36,912           0           0           0        36,912         35,663       223,089        22,814
 2007         36,912           0           0           0        36,912         31,672       254,761        18,340
 2008         36,912           0           0           0        36,912         27,899       282,660        14,626
 2009         36,912           0           0           0        36,912         24,336       306,996        11,550
 2010         36,912           0           0           0        36,912         20,967       327,963         9,008
 2011         36,912           0           0           0        36,912         17,783       345,746         6,917
 2012         36,912           0           0           0        36,912         14,775       360,521         5,204
 2013         36,912           0           0           0        36,912         11,932       372,453         3,805
 2014         36,912           0           0           0        36,912          9,246       381,699         2,670
 2015         36,912           0           0           0        36,912          6,707       388,406         1,754
 2016         36,912           0           0           0        36,912          4,308       392,714         1,022

 SUBTOT      553,680           0           0           0       553,680        392,714                     254,376
 REMAIN       52,292           0           0           0        52,292          2,253       394,967           483
 TOTAL       605,972           0           0           0       605,972        394,967                     254,859


   LIFE OF EVALUATION IS 16.42 YEARS.
   FINAL PRODUCTION RATE: 214 BBLS/MO


                                  TENGASCO, INC.                       TABLE 64
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MCHALE FIELD, ROOKS COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   17-T9S-R18W                                             PROVED
     HILGERS -B- #1   (ARBUCKLE)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -           376
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -           373
 REMARKS -                                                                                 15.00% -           369
                                                                                           20.00% -           366
                                                                                           25.00% -           363




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3           833           0           0             729           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            833           0           0             729           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                833           0           0             729           0           0.000      17.24     0.00

 CUMULATIVE       216,520           0           0
 ULTIMATE         217,353           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,565           0             0            0        12,565         544           0        12,021
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        12,565           0             0            0        12,565         544           0        12,021
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          12,565           0             0            0        12,565         544           0        12,021





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002         11,641           0           0           0        11,641            380           380           373
 2003              0           0           0           0             0              0           380             0
 2004              0           0           0           0             0              0           380             0
 2005              0           0           0           0             0              0           380             0
 2006              0           0           0           0             0              0           380             0
 2007              0           0           0           0             0              0           380             0
 2008              0           0           0           0             0              0           380             0
 2009              0           0           0           0             0              0           380             0
 2010              0           0           0           0             0              0           380             0
 2011              0           0           0           0             0              0           380             0
 2012              0           0           0           0             0              0           380             0
 2013              0           0           0           0             0              0           380             0
 2014              0           0           0           0             0              0           380             0
 2015              0           0           0           0             0              0           380             0
 2016              0           0           0           0             0              0           380             0

 SUBTOT       11,641           0           0           0        11,641            380                         373
 REMAIN            0           0           0           0             0              0           380             0
 TOTAL        11,641           0           0           0        11,641            380                         373


   LIFE OF EVALUATION IS 0.58 YEARS.
   FINAL PRODUCTION RATE: 116 BBLS/MO


                                  TENGASCO, INC.                       TABLE 65
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 MCHALE FIELD, ROOKS COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   16-T9S-R18W                                             PROVED
     KABA #1   (ARBUCKLE-LANSING-T)                                                    PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        23,243           0           0
 ULTIMATE          23,243           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 66
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 OMLOR FIELD, STAFFORD COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T22S-R14W                                            PROVED
     MILLER #1   (KSSC-LNSG)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.875000  0.708801                         17.24                               5.00% -         4,390
 FINAL   -   0.875000  0.708801                         17.24                              10.00% -         4,112
 REMARKS -                                                                                 15.00% -         3,863
                                                                                           20.00% -         3,640
                                                                                           25.00% -         3,439




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           772           0           0             547           0           0.000      17.24     0.00
 2003     1           702           0           0             498           0           0.000      17.24     0.00
 2004     1           665           0           0             471           0           0.000      17.24     0.00
 2005     1           631           0           0             447           0           0.000      17.24     0.00
 2006     1           403           0           0             286           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,173           0           0           2,249           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,173           0           0           2,249           0           0.000      17.24     0.00

 CUMULATIVE        33,316           0           0
 ULTIMATE          36,489           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            9,428           0             0            0         9,428         408           0         9,020
 2003            8,588           0             0            0         8,588         372           0         8,216
 2004            8,122           0             0            0         8,122         352           0         7,770
 2005            7,706           0             0            0         7,706         333           0         7,373
 2006            4,926           0             0            0         4,926         214           0         4,712
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        38,770           0             0            0        38,770       1,679           0        37,091
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          38,770           0             0            0        38,770       1,679           0        37,091





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          6,941           0           0           0         6,941          2,079         2,079         1,996
 2003          6,940           0           0           0         6,940          1,276         3,355         1,103
 2004          6,941           0           0           0         6,941            829         4,184           649
 2005          6,940           0           0           0         6,940            433         4,617           308
 2006          4,627           0           0           0         4,627             85         4,702            56
 2007              0           0           0           0             0              0         4,702             0
 2008              0           0           0           0             0              0         4,702             0
 2009              0           0           0           0             0              0         4,702             0
 2010              0           0           0           0             0              0         4,702             0
 2011              0           0           0           0             0              0         4,702             0
 2012              0           0           0           0             0              0         4,702             0
 2013              0           0           0           0             0              0         4,702             0
 2014              0           0           0           0             0              0         4,702             0
 2015              0           0           0           0             0              0         4,702             0
 2016              0           0           0           0             0              0         4,702             0

 SUBTOT       32,389           0           0           0        32,389          4,702                       4,112
 REMAIN            0           0           0           0             0              0         4,702             0
 TOTAL        32,389           0           0           0        32,389          4,702                       4,112


   LIFE OF EVALUATION IS 4.67 YEARS.
   FINAL PRODUCTION RATE: 50 BBLS/MO


                               TENGASCO, INC.                          TABLE 67
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 OMLOR FIELD, STAFFORD COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   11-T22S-R14W                                            PROVED
     WILLIAMS #1   (KSSC-LNSG)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.875000                                                                       5.00% -             0
 FINAL   -   0.875000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       113,838           0           0
 ULTIMATE         113,838           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 68
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 OTIS-ALBERT FIELD, RUSH COUNTY, KANSAS                                                GAS LEASE
   TENGASCO, INC. - OPERATOR   2-T18S-R16W                                             PROVED
     HARTMAN -C- #1   (PENNSYLVANIAN)                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          73
 ULTIMATE               0           0          73




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO



                                 TENGASCO, INC.                        TABLE 69
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   21-T9S-R18W                                             PROVED
     STAHL #2   (ARBUCKLE)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.843750                         17.24                               5.00% -       139,434
 FINAL   -   1.000000  0.843750                         17.24                              10.00% -       118,004
 REMARKS -                                                                                 15.00% -       101,554
                                                                                           20.00% -        88,694
                                                                                           25.00% -        78,464




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     4         5,539           0           0           4,673           0           0.000      17.24     0.00
 2003     4         5,328           0           0           4,496           0           0.000      17.24     0.00
 2004     4         5,124           0           0           4,324           0           0.000      17.24     0.00
 2005     4         4,930           0           0           4,159           0           0.000      17.24     0.00
 2006     4         4,742           0           0           4,001           0           0.000      17.24     0.00
 2007     4         4,561           0           0           3,848           0           0.000      17.24     0.00
 2008     4         4,387           0           0           3,702           0           0.000      17.24     0.00
 2009     4         4,220           0           0           3,561           0           0.000      17.24     0.00
 2010     4         4,059           0           0           3,425           0           0.000      17.24     0.00
 2011     4         3,905           0           0           3,294           0           0.000      17.24     0.00
 2012     4         3,756           0           0           3,169           0           0.000      17.24     0.00
 2013     4         3,613           0           0           3,049           0           0.000      17.24     0.00
 2014     4           881           0           0             744           0           0.000      17.24     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         55,045           0           0          46,445           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             55,045           0           0          46,445           0           0.000      17.24     0.00

 CUMULATIVE       132,675           0           0
 ULTIMATE         187,720           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           80,569           0             0            0        80,569       3,489           0        77,080
 2003           77,499           0             0            0        77,499       3,355           0        74,144
 2004           74,547           0             0            0        74,547       3,228           0        71,319
 2005           71,706           0             0            0        71,706       3,105           0        68,601
 2006           68,974           0             0            0        68,974       2,987           0        65,987
 2007           66,346           0             0            0        66,346       2,872           0        63,474
 2008           63,819           0             0            0        63,819       2,764           0        61,055
 2009           61,387           0             0            0        61,387       2,658           0        58,729
 2010           59,048           0             0            0        59,048       2,557           0        56,491
 2011           56,799           0             0            0        56,799       2,459           0        54,340
 2012           54,634           0             0            0        54,634       2,366           0        52,268
 2013           52,553           0             0            0        52,553       2,275           0        50,278
 2014           12,822           0             0            0        12,822         555           0        12,267
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       800,703           0             0            0       800,703      34,670           0       766,033
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         800,703           0             0            0       800,703      34,670           0       766,033





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         48,828           0           0           0        48,828         28,252        28,252        26,914
 2003         48,828           0           0           0        48,828         25,316        53,568        21,833
 2004         48,828           0           0           0        48,828         22,491        76,059        17,559
 2005         48,828           0           0           0        48,828         19,773        95,832        13,975
 2006         48,828           0           0           0        48,828         17,159       112,991        10,980
 2007         48,828           0           0           0        48,828         14,646       127,637         8,484
 2008         48,828           0           0           0        48,828         12,227       139,864         6,413
 2009         48,828           0           0           0        48,828          9,901       149,765         4,703
 2010         48,828           0           0           0        48,828          7,663       157,428         3,296
 2011         48,828           0           0           0        48,828          5,512       162,940         2,147
 2012         48,828           0           0           0        48,828          3,440       166,380         1,216
 2013         48,828           0           0           0        48,828          1,450       167,830           466
 2014         12,207           0           0           0        12,207             60       167,890            18
 2015              0           0           0           0             0              0       167,890             0
 2016              0           0           0           0             0              0       167,890             0

 SUBTOT      598,143           0           0           0       598,143        167,890                     118,004
 REMAIN            0           0           0           0             0              0       167,890             0
 TOTAL       598,143           0           0           0       598,143        167,890                     118,004

   LIFE OF EVALUATION IS 12.25 YEARS.
   FINAL PRODUCTION RATE: 293 BBLS/MO




                                  TENGASCO, INC.                       TABLE 70
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   21-T9S-R18W                                             PROVED
     STAHL #7 PUD   (ARBUCKLE)                                                         UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.843750                         17.24                               5.00% -       128,774
 FINAL   -   1.000000  0.843750                         17.24                              10.00% -        81,103
 REMARKS -                                                                                 15.00% -        51,024
                                                                                           20.00% -        30,957
                                                                                           25.00% -        16,948




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,426           0           0           2,891           0           0.000      17.24     0.00
 2003     1         3,228           0           0           2,723           0           0.000      17.24     0.00
 2004     1         2,607           0           0           2,200           0           0.000      17.24     0.00
 2005     1         2,484           0           0           2,096           0           0.000      17.24     0.00
 2006     1         2,367           0           0           1,997           0           0.000      17.24     0.00
 2007     1         2,255           0           0           1,903           0           0.000      17.24     0.00
 2008     1         2,149           0           0           1,813           0           0.000      17.24     0.00
 2009     1         2,047           0           0           1,727           0           0.000      17.24     0.00
 2010     1         1,951           0           0           1,646           0           0.000      17.24     0.00
 2011     1         1,858           0           0           1,568           0           0.000      17.24     0.00
 2012     1         1,771           0           0           1,494           0           0.000      17.24     0.00
 2013     1         1,687           0           0           1,424           0           0.000      17.24     0.00
 2014     1         1,608           0           0           1,356           0           0.000      17.24     0.00
 2015     1         1,532           0           0           1,293           0           0.000      17.24     0.00
 2016     1         1,459           0           0           1,231           0           0.000      17.24     0.00

 SUB-TOTAL         32,429           0           0          27,362           0           0.000      17.24     0.00
 REMAINDER         11,295           0           0           9,530           0           0.000      17.24     0.00
 TOTAL             43,724           0           0          36,892           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          43,724           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           49,835           0             0            0        49,835       2,158           0        47,677
 2003           46,956           0             0            0        46,956       2,033           0        44,923
 2004           37,924           0             0            0        37,924       1,642           0        36,282
 2005           36,134           0             0            0        36,134       1,565           0        34,569
 2006           34,428           0             0            0        34,428       1,490           0        32,938
 2007           32,803           0             0            0        32,803       1,421           0        31,382
 2008           31,255           0             0            0        31,255       1,353           0        29,902
 2009           29,780           0             0            0        29,780       1,290           0        28,490
 2010           28,374           0             0            0        28,374       1,228           0        27,146
 2011           27,035           0             0            0        27,035       1,171           0        25,864
 2012           25,759           0             0            0        25,759       1,115           0        24,644
 2013           24,542           0             0            0        24,542       1,063           0        23,479
 2014           23,385           0             0            0        23,385       1,012           0        22,373
 2015           22,281           0             0            0        22,281         965           0        21,316
 2016           21,229           0             0            0        21,229         919           0        20,310

 SUB-TOT       471,720           0             0            0       471,720      20,425           0       451,295
 REMAIN        164,294           0             0            0       164,294       7,114           0       157,180
 TOTAL         636,014           0             0            0       636,014      27,539           0       608,475





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,102           0     100,000           0       106,102        -58,425       -58,425       -56,055
 2003         12,204           0           0           0        12,204         32,719       -25,706        28,404
 2004         12,204           0           0           0        12,204         24,078        -1,628        18,791
 2005         12,204           0           0           0        12,204         22,365        20,737        15,799
 2006         12,204           0           0           0        12,204         20,734        41,471        13,259
 2007         12,204           0           0           0        12,204         19,178        60,649        11,102
 2008         12,204           0           0           0        12,204         17,698        78,347         9,274
 2009         12,204           0           0           0        12,204         16,286        94,633         7,726
 2010         12,204           0           0           0        12,204         14,942       109,575         6,416
 2011         12,204           0           0           0        12,204         13,660       123,235         5,310
 2012         12,204           0           0           0        12,204         12,440       135,675         4,377
 2013         12,204           0           0           0        12,204         11,275       146,950         3,592
 2014         12,204           0           0           0        12,204         10,169       157,119         2,932
 2015         12,204           0           0           0        12,204          9,112       166,231         2,379
 2016         12,204           0           0           0        12,204          8,106       174,337         1,915

 SUBTOT      176,958           0     100,000           0       276,958        174,337                      75,221
 REMAIN      122,040           0           0           0       122,040         35,140       209,477         5,882
 TOTAL       298,998           0     100,000           0       398,998        209,477                      81,103


   LIFE OF EVALUATION IS 25.00 YEARS.
   FINAL PRODUCTION RATE: 73 BBLS/MO


                                 TENGASCO, INC.                        TABLE 71
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   13-T20S-R16W                                            PROVED
     O'SCHULTZ #1   (ARBUCKLE)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937500  0.820313                         17.24                               5.00% -         1,125
 FINAL   -   0.937500  0.820313                         17.24                              10.00% -         1,106
 REMARKS -                                                                                 15.00% -         1,087
                                                                                           20.00% -         1,069
                                                                                           25.00% -         1,051




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         1,534           0           0           1,258           0           0.000      17.24     0.00
 2003     2           121           0           0              99           0           0.000      17.24     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          1,655           0           0           1,357           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              1,655           0           0           1,357           0           0.000      17.24     0.00

 CUMULATIVE        46,100           0           0
 ULTIMATE          47,755           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           21,689           0             0            0        21,689         939           0        20,750
 2003            1,712           0             0            0         1,712          74           0         1,638
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        23,401           0             0            0        23,401       1,013           0        22,388
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          23,401           0             0            0        23,401       1,013           0        22,388





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         19,609           0           0           0        19,609          1,141         1,141         1,102
 2003          1,634           0           0           0         1,634              4         1,145             4
 2004              0           0           0           0             0              0         1,145             0
 2005              0           0           0           0             0              0         1,145             0
 2006              0           0           0           0             0              0         1,145             0
 2007              0           0           0           0             0              0         1,145             0
 2008              0           0           0           0             0              0         1,145             0
 2009              0           0           0           0             0              0         1,145             0
 2010              0           0           0           0             0              0         1,145             0
 2011              0           0           0           0             0              0         1,145             0
 2012              0           0           0           0             0              0         1,145             0
 2013              0           0           0           0             0              0         1,145             0
 2014              0           0           0           0             0              0         1,145             0
 2015              0           0           0           0             0              0         1,145             0
 2016              0           0           0           0             0              0         1,145             0

 SUBTOT       21,243           0           0           0        21,243          1,145                       1,106
 REMAIN            0           0           0           0             0              0         1,145             0
 TOTAL        21,243           0           0           0        21,243          1,145                       1,106


   LIFE OF EVALUATION IS 1.08 YEARS.
   FINAL PRODUCTION RATE: 121 BBLS/MO


                                  TENGASCO, INC.                       TABLE 72
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   24-T20S-R16W                                            PROVED
     OETKIN #2   (ARBUCKLE)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937500                                                                       5.00% -             0
 FINAL   -   0.937500                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE       119,009           0           0
 ULTIMATE         119,009           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO

                                 TENGASCO, INC.                       TABLE 73
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   24-T20S-R16W                                            PROBABLE
     OETKIN #8 PBUD   (ARBUCKLE)                                                       UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.937500                                                                       5.00% -             0
 FINAL   -   0.937500                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 1.42 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 74
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   12-T10S-R18W                                            PROVED
     ANDERSON -A- #1   (LANSING)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -           238
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -           233
 REMARKS -                                                                                 15.00% -           228
                                                                                           20.00% -           224
                                                                                           25.00% -           219




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           270           0           0             237           0           0.000      17.24     0.00
 2003     1            86           0           0              75           0           0.000      17.24     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            356           0           0             312           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                356           0           0             312           0           0.000      17.24     0.00

 CUMULATIVE        12,438           0           0
 ULTIMATE          12,794           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            4,080           0             0            0         4,080         177           0         3,903
 2003            1,292           0             0            0         1,292          56           0         1,236
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT         5,372           0             0            0         5,372         233           0         5,139
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL           5,372           0             0            0         5,372         233           0         5,139





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          3,672           0           0           0         3,672            231           231           222
 2003          1,224           0           0           0         1,224             12           243            11
 2004              0           0           0           0             0              0           243             0
 2005              0           0           0           0             0              0           243             0
 2006              0           0           0           0             0              0           243             0
 2007              0           0           0           0             0              0           243             0
 2008              0           0           0           0             0              0           243             0
 2009              0           0           0           0             0              0           243             0
 2010              0           0           0           0             0              0           243             0
 2011              0           0           0           0             0              0           243             0
 2012              0           0           0           0             0              0           243             0
 2013              0           0           0           0             0              0           243             0
 2014              0           0           0           0             0              0           243             0
 2015              0           0           0           0             0              0           243             0
 2016              0           0           0           0             0              0           243             0

 SUBTOT        4,896           0           0           0         4,896            243                         233
 REMAIN            0           0           0           0             0              0           243             0
 TOTAL         4,896           0           0           0         4,896            243                         233


   LIFE OF EVALUATION IS 1.33 YEARS.
   FINAL PRODUCTION RATE: 21 BBLS/MO


                                TENGASCO, INC.                         TABLE 75
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   12-T10S-R18W                                            PROVED
     BARDOT #1   (KSSC-LNSG)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        25,414           0           0
 ULTIMATE          25,414           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO



                             TENGASCO, INC. TABLE 76
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   18-T10S-R17W                                            PROVED
     GARVERT -A- #1   (KANSAS CITY)                                                    PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       104,528
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        74,074
 REMARKS -                                                                                 15.00% -        56,765
                                                                                           20.00% -        45,854
                                                                                           25.00% -        38,422




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,124           0           0             983           0           0.000      17.24     0.00
 2003     1         1,087           0           0             952           0           0.000      17.24     0.00
 2004     1         1,052           0           0             920           0           0.000      17.24     0.00
 2005     1         1,018           0           0             891           0           0.000      17.24     0.00
 2006     1           985           0           0             862           0           0.000      17.24     0.00
 2007     1           953           0           0             833           0           0.000      17.24     0.00
 2008     1           921           0           0             807           0           0.000      17.24     0.00
 2009     1           892           0           0             780           0           0.000      17.24     0.00
 2010     1           863           0           0             755           0           0.000      17.24     0.00
 2011     1           835           0           0             731           0           0.000      17.24     0.00
 2012     1           808           0           0             706           0           0.000      17.24     0.00
 2013     1           781           0           0             684           0           0.000      17.24     0.00
 2014     1           756           0           0             662           0           0.000      17.24     0.00
 2015     1           732           0           0             640           0           0.000      17.24     0.00
 2016     1           707           0           0             619           0           0.000      17.24     0.00

 SUB-TOTAL         13,514           0           0          11,825           0           0.000      17.24     0.00
 REMAINDER         10,512           0           0           9,198           0           0.000      17.24     0.00
 TOTAL             24,026           0           0          21,023           0           0.000      17.24     0.00

 CUMULATIVE        30,061           0           0
 ULTIMATE          54,087           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           16,954           0             0            0        16,954         734           0        16,220
 2003           16,403           0             0            0        16,403         710           0        15,693
 2004           15,870           0             0            0        15,870         688           0        15,182
 2005           15,354           0             0            0        15,354         664           0        14,690
 2006           14,855           0             0            0        14,855         644           0        14,211
 2007           14,373           0             0            0        14,373         622           0        13,751
 2008           13,905           0             0            0        13,905         602           0        13,303
 2009           13,453           0             0            0        13,453         583           0        12,870
 2010           13,016           0             0            0        13,016         563           0        12,453
 2011           12,593           0             0            0        12,593         545           0        12,048
 2012           12,184           0             0            0        12,184         528           0        11,656
 2013           11,788           0             0            0        11,788         510           0        11,278
 2014           11,405           0             0            0        11,405         494           0        10,911
 2015           11,034           0             0            0        11,034         478           0        10,556
 2016           10,675           0             0            0        10,675         462           0        10,213

 SUB-TOT       203,862           0             0            0       203,862       8,827           0       195,035
 REMAIN        158,572           0             0            0       158,572       6,866           0       151,706
 TOTAL         362,434           0             0            0       362,434      15,693           0       346,741





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          5,040           0           0           0         5,040         11,180        11,180        10,646
 2003          5,040           0           0           0         5,040         10,653        21,833         9,182
 2004          5,040           0           0           0         5,040         10,142        31,975         7,913
 2005          5,040           0           0           0         5,040          9,650        41,625         6,816
 2006          5,040           0           0           0         5,040          9,171        50,796         5,863
 2007          5,040           0           0           0         5,040          8,711        59,507         5,042
 2008          5,040           0           0           0         5,040          8,263        67,770         4,329
 2009          5,040           0           0           0         5,040          7,830        75,600         3,713
 2010          5,040           0           0           0         5,040          7,413        83,013         3,182
 2011          5,040           0           0           0         5,040          7,008        90,021         2,724
 2012          5,040           0           0           0         5,040          6,616        96,637         2,327
 2013          5,040           0           0           0         5,040          6,238       102,875         1,987
 2014          5,040           0           0           0         5,040          5,871       108,746         1,692
 2015          5,040           0           0           0         5,040          5,516       114,262         1,439
 2016          5,040           0           0           0         5,040          5,173       119,435         1,222

 SUBTOT       75,600           0           0           0        75,600        119,435                      68,077
 REMAIN      105,420           0           0           0       105,420         46,286       165,721         5,997
 TOTAL       181,020           0           0           0       181,020        165,721                      74,074


   LIFE OF EVALUATION IS 35.92 YEARS.
   FINAL PRODUCTION RATE: 29 BBLS/MO


                             TENGASCO, INC.                             TABLE 77
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   13-T10S-R18W                                            PROVED
     GARVERT -B- #1   (CNGL-LNSG-PLSN)                                                 PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        38,006
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        28,170
 REMARKS -                                                                                 15.00% -        22,105
                                                                                           20.00% -        18,093
                                                                                           25.00% -        15,279




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           610           0           0             533           0           0.000      17.24     0.00
 2003     1           593           0           0             519           0           0.000      17.24     0.00
 2004     1           577           0           0             505           0           0.000      17.24     0.00
 2005     1           561           0           0             492           0           0.000      17.24     0.00
 2006     1           546           0           0             477           0           0.000      17.24     0.00
 2007     1           532           0           0             465           0           0.000      17.24     0.00
 2008     1           517           0           0             453           0           0.000      17.24     0.00
 2009     1           503           0           0             440           0           0.000      17.24     0.00
 2010     1           489           0           0             428           0           0.000      17.24     0.00
 2011     1           476           0           0             417           0           0.000      17.24     0.00
 2012     1           463           0           0             405           0           0.000      17.24     0.00
 2013     1           451           0           0             394           0           0.000      17.24     0.00
 2014     1           438           0           0             384           0           0.000      17.24     0.00
 2015     1           427           0           0             373           0           0.000      17.24     0.00
 2016     1           415           0           0             363           0           0.000      17.24     0.00

 SUB-TOTAL          7,598           0           0           6,648           0           0.000      17.24     0.00
 REMAINDER          4,184           0           0           3,661           0           0.000      17.24     0.00
 TOTAL             11,782           0           0          10,309           0           0.000      17.24     0.00

 CUMULATIVE        46,235           0           0
 ULTIMATE          58,017           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            9,196           0             0            0         9,196         398           0         8,798
 2003            8,947           0             0            0         8,947         388           0         8,559
 2004            8,705           0             0            0         8,705         377           0         8,328
 2005            8,469           0             0            0         8,469         366           0         8,103
 2006            8,239           0             0            0         8,239         357           0         7,882
 2007            8,016           0             0            0         8,016         347           0         7,669
 2008            7,799           0             0            0         7,799         338           0         7,461
 2009            7,587           0             0            0         7,587         328           0         7,259
 2010            7,382           0             0            0         7,382         320           0         7,062
 2011            7,182           0             0            0         7,182         311           0         6,871
 2012            6,987           0             0            0         6,987         302           0         6,685
 2013            6,798           0             0            0         6,798         295           0         6,503
 2014            6,613           0             0            0         6,613         286           0         6,327
 2015            6,434           0             0            0         6,434         279           0         6,155
 2016            6,260           0             0            0         6,260         271           0         5,989

 SUB-TOT       114,614           0             0            0       114,614       4,963           0       109,651
 REMAIN         63,117           0             0            0        63,117       2,733           0        60,384
 TOTAL         177,731           0             0            0       177,731       7,696           0       170,035





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,248           0           0           0         4,248          4,550         4,550         4,333
 2003          4,248           0           0           0         4,248          4,311         8,861         3,716
 2004          4,248           0           0           0         4,248          4,080        12,941         3,183
 2005          4,248           0           0           0         4,248          3,855        16,796         2,723
 2006          4,248           0           0           0         4,248          3,634        20,430         2,324
 2007          4,248           0           0           0         4,248          3,421        23,851         1,980
 2008          4,248           0           0           0         4,248          3,213        27,064         1,683
 2009          4,248           0           0           0         4,248          3,011        30,075         1,428
 2010          4,248           0           0           0         4,248          2,814        32,889         1,209
 2011          4,248           0           0           0         4,248          2,623        35,512         1,019
 2012          4,248           0           0           0         4,248          2,437        37,949           857
 2013          4,248           0           0           0         4,248          2,255        40,204           719
 2014          4,248           0           0           0         4,248          2,079        42,283           599
 2015          4,248           0           0           0         4,248          1,907        44,190           498
 2016          4,248           0           0           0         4,248          1,741        45,931           411

 SUBTOT       63,720           0           0           0        63,720         45,931                      26,682
 REMAIN       50,976           0           0           0        50,976          9,408        55,339         1,488
 TOTAL       114,696           0           0           0       114,696         55,339                      28,170


   LIFE OF EVALUATION IS 27.00 YEARS.
   FINAL PRODUCTION RATE: 25 BBLS/MO


                             TENGASCO, INC.                            TABLE 78
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   12-T10S-R18W                                            PROVED
     HARRISON -C-   (LANSING)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        26,203           0           0
 ULTIMATE          26,203           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                               TENGASCO, INC. TABLE                          79
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                                                OIL LEASE
   TENGASCO, INC. - OPERATOR   13-T10S-R18W                                            PROVED
     JACO   (LANSING)                                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       161,351
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -       129,117
 REMARKS -                                                                                 15.00% -       106,632
                                                                                           20.00% -        90,350
                                                                                           25.00% -        78,162




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     4         2,956           0           0           2,587           0           0.000      17.24     0.00
 2003     4         2,809           0           0           2,457           0           0.000      17.24     0.00
 2004     4         2,668           0           0           2,335           0           0.000      17.24     0.00
 2005     4         2,535           0           0           2,218           0           0.000      17.24     0.00
 2006     4         2,408           0           0           2,107           0           0.000      17.24     0.00
 2007     4         2,288           0           0           2,002           0           0.000      17.24     0.00
 2008     4         2,173           0           0           1,901           0           0.000      17.24     0.00
 2009     4         2,064           0           0           1,807           0           0.000      17.24     0.00
 2010     4         1,962           0           0           1,716           0           0.000      17.24     0.00
 2011     4         1,863           0           0           1,630           0           0.000      17.24     0.00
 2012     4         1,770           0           0           1,549           0           0.000      17.24     0.00
 2013     4         1,682           0           0           1,471           0           0.000      17.24     0.00
 2014     4         1,597           0           0           1,398           0           0.000      17.24     0.00
 2015     4         1,518           0           0           1,328           0           0.000      17.24     0.00
 2016     4         1,442           0           0           1,262           0           0.000      17.24     0.00

 SUB-TOTAL         31,735           0           0          27,768           0           0.000      17.24     0.00
 REMAINDER          4,501           0           0           3,939           0           0.000      17.24     0.00
 TOTAL             36,236           0           0          31,707           0           0.000      17.24     0.00

 CUMULATIVE       116,751           0           0
 ULTIMATE         152,987           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           44,597           0             0            0        44,597       1,931           0        42,666
 2003           42,368           0             0            0        42,368       1,835           0        40,533
 2004           40,249           0             0            0        40,249       1,742           0        38,507
 2005           38,237           0             0            0        38,237       1,656           0        36,581
 2006           36,325           0             0            0        36,325       1,573           0        34,752
 2007           34,508           0             0            0        34,508       1,494           0        33,014
 2008           32,784           0             0            0        32,784       1,420           0        31,364
 2009           31,144           0             0            0        31,144       1,348           0        29,796
 2010           29,587           0             0            0        29,587       1,281           0        28,306
 2011           28,107           0             0            0        28,107       1,217           0        26,890
 2012           26,702           0             0            0        26,702       1,157           0        25,545
 2013           25,367           0             0            0        25,367       1,098           0        24,269
 2014           24,099           0             0            0        24,099       1,043           0        23,056
 2015           22,894           0             0            0        22,894         992           0        21,902
 2016           21,749           0             0            0        21,749         941           0        20,808

 SUB-TOT       478,717           0             0            0       478,717      20,728           0       457,989
 REMAIN         67,908           0             0            0        67,908       2,941           0        64,967
 TOTAL         546,625           0             0            0       546,625      23,669           0       522,956





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         16,944           0           0           0        16,944         25,722        25,722        24,500
 2003         16,944           0           0           0        16,944         23,589        49,311        20,339
 2004         16,944           0           0           0        16,944         21,563        70,874        16,830
 2005         16,944           0           0           0        16,944         19,637        90,511        13,875
 2006         16,944           0           0           0        16,944         17,808       108,319        11,390
 2007         16,944           0           0           0        16,944         16,070       124,389         9,305
 2008         16,944           0           0           0        16,944         14,420       138,809         7,558
 2009         16,944           0           0           0        16,944         12,852       151,661         6,098
 2010         16,944           0           0           0        16,944         11,362       163,023         4,881
 2011         16,944           0           0           0        16,944          9,946       172,969         3,867
 2012         16,944           0           0           0        16,944          8,601       181,570         3,028
 2013         16,944           0           0           0        16,944          7,325       188,895         2,335
 2014         16,944           0           0           0        16,944          6,112       195,007         1,764
 2015         16,944           0           0           0        16,944          4,958       199,965         1,295
 2016         16,944           0           0           0        16,944          3,864       203,829           914

 SUBTOT      254,160           0           0           0       254,160        203,829                     127,979
 REMAIN       59,304           0           0           0        59,304          5,663       209,492         1,138
 TOTAL       313,464           0           0           0       313,464        209,492                     129,117


   LIFE OF EVALUATION IS 18.50 YEARS.
   FINAL PRODUCTION RATE: 98 BBLS/MO


                                 TENGASCO, INC.                        TABLE 80
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLAINVILLE FIELD, ROOKS COUNTY, KANSAS                             OIL LEASE
   TENGASCO, INC. - OPERATOR   12-T10S-R18W                         PROVED
     ROSS   (LANSING)                                               PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        47,344
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        41,202
 REMARKS -                                                                                 15.00% -        36,283
                                                                                           20.00% -        32,292
                                                                                           25.00% -        29,013




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         1,592           0           0           1,393           0           0.000      17.24     0.00
 2003     2         1,482           0           0           1,297           0           0.000      17.24     0.00
 2004     2         1,380           0           0           1,207           0           0.000      17.24     0.00
 2005     2         1,284           0           0           1,124           0           0.000      17.24     0.00
 2006     2         1,196           0           0           1,046           0           0.000      17.24     0.00
 2007     2         1,113           0           0             974           0           0.000      17.24     0.00
 2008     2         1,037           0           0             907           0           0.000      17.24     0.00
 2009     2           965           0           0             845           0           0.000      17.24     0.00
 2010     2           898           0           0             786           0           0.000      17.24     0.00
 2011     2           837           0           0             732           0           0.000      17.24     0.00
 2012     2           133           0           0             117           0           0.000      17.24     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         11,917           0           0          10,428           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             11,917           0           0          10,428           0           0.000      17.24     0.00

 CUMULATIVE        70,949           0           0
 ULTIMATE          82,866           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           24,013           0             0            0        24,013       1,040           0        22,973
 2003           22,355           0             0            0        22,355         968           0        21,387
 2004           20,813           0             0            0        20,813         901           0        19,912
 2005           19,377           0             0            0        19,377         839           0        18,538
 2006           18,041           0             0            0        18,041         781           0        17,260
 2007           16,795           0             0            0        16,795         727           0        16,068
 2008           15,636           0             0            0        15,636         677           0        14,959
 2009           14,558           0             0            0        14,558         631           0        13,927
 2010           13,553           0             0            0        13,553         587           0        12,966
 2011           12,618           0             0            0        12,618         546           0        12,072
 2012            2,016           0             0            0         2,016          87           0         1,929
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       179,775           0             0            0       179,775       7,784           0       171,991
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         179,775           0             0            0       179,775       7,784           0       171,991





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         11,496           0           0           0        11,496         11,477        11,477        10,937
 2003         11,496           0           0           0        11,496          9,891        21,368         8,533
 2004         11,496           0           0           0        11,496          8,416        29,784         6,573
 2005         11,496           0           0           0        11,496          7,042        36,826         4,979
 2006         11,496           0           0           0        11,496          5,764        42,590         3,690
 2007         11,496           0           0           0        11,496          4,572        47,162         2,651
 2008         11,496           0           0           0        11,496          3,463        50,625         1,818
 2009         11,496           0           0           0        11,496          2,431        53,056         1,156
 2010         11,496           0           0           0        11,496          1,470        54,526           634
 2011         11,496           0           0           0        11,496            576        55,102           227
 2012          1,916           0           0           0         1,916             13        55,115             4
 2013              0           0           0           0             0              0        55,115             0
 2014              0           0           0           0             0              0        55,115             0
 2015              0           0           0           0             0              0        55,115             0
 2016              0           0           0           0             0              0        55,115             0

 SUBTOT      116,876           0           0           0       116,876         55,115                      41,202
 REMAIN            0           0           0           0             0              0        55,115             0
 TOTAL       116,876           0           0           0       116,876         55,115                      41,202


   LIFE OF EVALUATION IS 10.17 YEARS.
   FINAL PRODUCTION RATE: 67 BBLS/MO


                              TENGASCO, INC.                           TABLE 81
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT FIELD, RUSH COUNTY, KANSAS                                                   GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     BASGALL -C- #4   (DOVER)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          13
 ULTIMATE               0           0          13




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                  TENGASCO, INC.                       TABLE 82
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT FIELD, ELLIS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   22-T13S-R20W                                            PROVED
     HONAS #3   (ARBUCKLE)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820310                         17.24                               5.00% -         5,178
 FINAL   -   1.000000  0.820310                         17.24                              10.00% -         4,706
 REMARKS -                                                                                 15.00% -         4,300
                                                                                           20.00% -         3,949
                                                                                           25.00% -         3,645




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           411           0           0             337           0           0.000      17.24     0.00
 2003     1           386           0           0             317           0           0.000      17.24     0.00
 2004     1           363           0           0             298           0           0.000      17.24     0.00
 2005     1           342           0           0             280           0           0.000      17.24     0.00
 2006     1           321           0           0             263           0           0.000      17.24     0.00
 2007     1           301           0           0             248           0           0.000      17.24     0.00
 2008     1           144           0           0             118           0           0.000      17.24     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          2,268           0           0           1,861           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              2,268           0           0           1,861           0           0.000      17.24     0.00

 CUMULATIVE        65,644           0           0
 ULTIMATE          67,912           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            5,812           0             0            0         5,812         252           0         5,560
 2003            5,464           0             0            0         5,464         236           0         5,228
 2004            5,136           0             0            0         5,136         223           0         4,913
 2005            4,827           0             0            0         4,827         209           0         4,618
 2006            4,538           0             0            0         4,538         196           0         4,342
 2007            4,266           0             0            0         4,266         185           0         4,081
 2008            2,036           0             0            0         2,036          88           0         1,948
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        32,079           0             0            0        32,079       1,389           0        30,690
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          32,079           0             0            0        32,079       1,389           0        30,690





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,840           0           0           0         3,840          1,720         1,720         1,640
 2003          3,840           0           0           0         3,840          1,388         3,108         1,198
 2004          3,840           0           0           0         3,840          1,073         4,181           839
 2005          3,840           0           0           0         3,840            778         4,959           551
 2006          3,840           0           0           0         3,840            502         5,461           322
 2007          3,840           0           0           0         3,840            241         5,702           141
 2008          1,920           0           0           0         1,920             28         5,730            15
 2009              0           0           0           0             0              0         5,730             0
 2010              0           0           0           0             0              0         5,730             0
 2011              0           0           0           0             0              0         5,730             0
 2012              0           0           0           0             0              0         5,730             0
 2013              0           0           0           0             0              0         5,730             0
 2014              0           0           0           0             0              0         5,730             0
 2015              0           0           0           0             0              0         5,730             0
 2016              0           0           0           0             0              0         5,730             0

 SUBTOT       24,960           0           0           0        24,960          5,730                       4,706
 REMAIN            0           0           0           0             0              0         5,730             0
 TOTAL        24,960           0           0           0        24,960          5,730                       4,706


   LIFE OF EVALUATION IS 6.50 YEARS.
   FINAL PRODUCTION RATE: 24 BBLS/MO


                                  TENGASCO, INC.                        TABLE 83
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     URBAN -K- #5   (KSSC-LNSG)                                                        PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        19,798
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        16,110
 REMARKS -                                                                                 15.00% -        13,458
                                                                                           20.00% -        11,493
                                                                                           25.00% -         9,997




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           472           0           0             413           0           0.000      17.24     0.00
 2003     1           452           0           0             396           0           0.000      17.24     0.00
 2004     1           434           0           0             379           0           0.000      17.24     0.00
 2005     1           415           0           0             363           0           0.000      17.24     0.00
 2006     1           398           0           0             348           0           0.000      17.24     0.00
 2007     1           381           0           0             334           0           0.000      17.24     0.00
 2008     1           365           0           0             319           0           0.000      17.24     0.00
 2009     1           349           0           0             306           0           0.000      17.24     0.00
 2010     1           335           0           0             293           0           0.000      17.24     0.00
 2011     1           321           0           0             281           0           0.000      17.24     0.00
 2012     1           308           0           0             269           0           0.000      17.24     0.00
 2013     1           294           0           0             258           0           0.000      17.24     0.00
 2014     1           282           0           0             246           0           0.000      17.24     0.00
 2015     1           270           0           0             237           0           0.000      17.24     0.00
 2016     1           259           0           0             226           0           0.000      17.24     0.00

 SUB-TOTAL          5,335           0           0           4,668           0           0.000      17.24     0.00
 REMAINDER            309           0           0             270           0           0.000      17.24     0.00
 TOTAL              5,644           0           0           4,938           0           0.000      17.24     0.00

 CUMULATIVE        23,932           0           0
 ULTIMATE          29,576           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            7,122           0             0            0         7,122         308           0         6,814
 2003            6,824           0             0            0         6,824         296           0         6,528
 2004            6,536           0             0            0         6,536         283           0         6,253
 2005            6,262           0             0            0         6,262         271           0         5,991
 2006            6,000           0             0            0         6,000         260           0         5,740
 2007            5,747           0             0            0         5,747         249           0         5,498
 2008            5,505           0             0            0         5,505         238           0         5,267
 2009            5,275           0             0            0         5,275         228           0         5,047
 2010            5,053           0             0            0         5,053         219           0         4,834
 2011            4,841           0             0            0         4,841         210           0         4,631
 2012            4,637           0             0            0         4,637         201           0         4,436
 2013            4,443           0             0            0         4,443         192           0         4,251
 2014            4,256           0             0            0         4,256         184           0         4,072
 2015            4,077           0             0            0         4,077         177           0         3,900
 2016            3,906           0             0            0         3,906         169           0         3,737

 SUB-TOT        80,484           0             0            0        80,484       3,485           0        76,999
 REMAIN          4,653           0             0            0         4,653         201           0         4,452
 TOTAL          85,137           0             0            0        85,137       3,686           0        81,451





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,468           0           0           0         3,468          3,346         3,346         3,187
 2003          3,468           0           0           0         3,468          3,060         6,406         2,639
 2004          3,468           0           0           0         3,468          2,785         9,191         2,173
 2005          3,468           0           0           0         3,468          2,523        11,714         1,783
 2006          3,468           0           0           0         3,468          2,272        13,986         1,453
 2007          3,468           0           0           0         3,468          2,030        16,016         1,176
 2008          3,468           0           0           0         3,468          1,799        17,815           943
 2009          3,468           0           0           0         3,468          1,579        19,394           749
 2010          3,468           0           0           0         3,468          1,366        20,760           587
 2011          3,468           0           0           0         3,468          1,163        21,923           453
 2012          3,468           0           0           0         3,468            968        22,891           340
 2013          3,468           0           0           0         3,468            783        23,674           250
 2014          3,468           0           0           0         3,468            604        24,278           175
 2015          3,468           0           0           0         3,468            432        24,710           113
 2016          3,468           0           0           0         3,468            269        24,979            63

 SUBTOT       52,020           0           0           0        52,020         24,979                      16,084
 REMAIN        4,335           0           0           0         4,335            117        25,096            26
 TOTAL        56,355           0           0           0        56,355         25,096                      16,110


   LIFE OF EVALUATION IS 16.25 YEARS.
   FINAL PRODUCTION RATE: 20 BBLS/MO


                             TENGASCO, INC. TABLE 84
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS                                              GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     URBAN -K- #5 BP   (DOVER)                                                         BEHIND PIPE

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        54,854
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        43,177
 REMARKS - OPERATING COSTS ARE CARRIED BY PRODUCING RESERVES.                              15.00% -        34,139
                                                                                           20.00% -        27,111
                                                                                           25.00% -        21,620




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0          21               0           0          17.074       0.00     2.13
 2006                   0           0          10               0           0           8.095       0.00     2.13
 2007                   0           0           9               0           0           6.818       0.00     2.13
 2008                   0           0           7               0           0           5.742       0.00     2.13
 2009                   0           0           3               0           0           2.521       0.00     2.13
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          50               0           0          40.250       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          50               0           0          40.250       0.00     2.13

 CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          50        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0        36,367            0        36,367           0       1,575        34,792
 2006                0           0        17,243            0        17,243           0         746        16,497
 2007                0           0        14,521            0        14,521           0         629        13,892
 2008                0           0        12,231            0        12,231           0         530        11,701
 2009                0           0         5,370            0         5,370           0         232         5,138
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        85,732            0        85,732           0       3,712        82,020
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        85,732            0        85,732           0       3,712        82,020





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0      12,000           0        12,000         22,792        22,792        15,938
 2006              0           0           0           0             0         16,497        39,289        10,557
 2007              0           0           0           0             0         13,892        53,181         8,048
 2008              0           0           0           0             0         11,701        64,882         6,136
 2009              0           0           0           0             0          5,138        70,020         2,498
 2010              0           0           0           0             0              0        70,020             0
 2011              0           0           0           0             0              0        70,020             0
 2012              0           0           0           0             0              0        70,020             0
 2013              0           0           0           0             0              0        70,020             0
 2014              0           0           0           0             0              0        70,020             0
 2015              0           0           0           0             0              0        70,020             0
 2016              0           0           0           0             0              0        70,020             0

 SUBTOT            0           0      12,000           0        12,000         70,020                      43,177
 REMAIN            0           0           0           0             0              0        70,020             0
 TOTAL             0           0      12,000           0        12,000         70,020                      43,177


   LIFE OF EVALUATION IS 7.50 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO


                             TENGASCO, INC.                             TABLE 85
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS                                           OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     URBAN #1   (KSSC-LNSG)                                                            PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -            37
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -            37
 REMARKS -                                                                                 15.00% -            37
                                                                                           20.00% -            37
                                                                                           25.00% -            36




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3           381           0           0             333           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            381           0           0             333           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                381           0           0             333           0           0.000      17.24     0.00

 CUMULATIVE        76,702           0           0
 ULTIMATE          77,083           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            5,746           0             0            0         5,746         249           0         5,497
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT         5,746           0             0            0         5,746         249           0         5,497
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL           5,746           0             0            0         5,746         249           0         5,497





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                       
 2002          5,460           0           0           0         5,460             37            37            37
 2003              0           0           0           0             0              0            37             0
 2004              0           0           0           0             0              0            37             0
 2005              0           0           0           0             0              0            37             0
 2006              0           0           0           0             0              0            37             0
 2007              0           0           0           0             0              0            37             0
 2008              0           0           0           0             0              0            37             0
 2009              0           0           0           0             0              0            37             0
 2010              0           0           0           0             0              0            37             0
 2011              0           0           0           0             0              0            37             0
 2012              0           0           0           0             0              0            37             0
 2013              0           0           0           0             0              0            37             0
 2014              0           0           0           0             0              0            37             0
 2015              0           0           0           0             0              0            37             0
 2016              0           0           0           0             0              0            37             0

 SUBTOT        5,460           0           0           0         5,460             37                          37
 REMAIN            0           0           0           0             0              0            37             0
 TOTAL         5,460           0           0           0         5,460             37                          37


   LIFE OF EVALUATION IS 0.17 YEARS.
   FINAL PRODUCTION RATE: 190 BBLS/MO



                                TENGASCO, INC.                         TABLE 86
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS                                           OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     URBAN #6 PUD   (KSSC-LNSG)                                                        UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                                  TENGASCO, INC.                       TABLE 87
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS                                           OIL LEASE
   TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
     URBAN #7 PUD   (KSSC-LNSG)                                                        UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                               TENGASCO, INC.                          TABLE 88
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                GAS LEASE
   TENGASCO, INC. - OPERATOR   33-T16S-R16W                                        PROVED
     ALLEN #1 A&D   (SHAWNEE)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        58,552
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        49,723
 REMARKS -                                                                                 15.00% -        42,908
                                                                                           20.00% -        37,556
                                                                                           25.00% -        33,283




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          20               0           0          15.871       0.00     2.13
 2003     1             0           0          19               0           0          15.236       0.00     2.13
 2004     1             0           0          18               0           0          14.627       0.00     2.13
 2005     1             0           0          17               0           0          14.041       0.00     2.13
 2006     1             0           0          17               0           0          13.480       0.00     2.13
 2007     1             0           0          16               0           0          12.941       0.00     2.13
 2008     1             0           0          16               0           0          12.423       0.00     2.13
 2009     1             0           0          14               0           0          11.926       0.00     2.13
 2010     1             0           0          15               0           0          11.449       0.00     2.13
 2011     1             0           0          13               0           0          10.991       0.00     2.13
 2012     1             0           0          13               0           0          10.551       0.00     2.13
 2013     1             0           0          13               0           0          10.129       0.00     2.13
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         191               0           0         153.665       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         191               0           0         153.665       0.00     2.13

 CUMULATIVE             0           0         162    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         353        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        33,805            0        33,805           0       1,464        32,341
 2003                0           0        32,452            0        32,452           0       1,405        31,047
 2004                0           0        31,155            0        31,155           0       1,349        29,806
 2005                0           0        29,908            0        29,908           0       1,295        28,613
 2006                0           0        28,712            0        28,712           0       1,243        27,469
 2007                0           0        27,564            0        27,564           0       1,194        26,370
 2008                0           0        26,460            0        26,460           0       1,145        25,315
 2009                0           0        25,403            0        25,403           0       1,100        24,303
 2010                0           0        24,386            0        24,386           0       1,056        23,330
 2011                0           0        23,411            0        23,411           0       1,014        22,397
 2012                0           0        22,475            0        22,475           0         973        21,502
 2013                0           0        21,575            0        21,575           0         934        20,641
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       327,306            0       327,306           0      14,172       313,134
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       327,306            0       327,306           0      14,172       313,134





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         20,244           0           0           0        20,244         12,097        12,097        11,524
 2003         20,244           0           0           0        20,244         10,803        22,900         9,317
 2004         20,244           0           0           0        20,244          9,562        32,462         7,466
 2005         20,244           0           0           0        20,244          8,369        40,831         5,915
 2006         20,244           0           0           0        20,244          7,225        48,056         4,623
 2007         20,244           0           0           0        20,244          6,126        54,182         3,549
 2008         20,244           0           0           0        20,244          5,071        59,253         2,660
 2009         20,244           0           0           0        20,244          4,059        63,312         1,928
 2010         20,244           0           0           0        20,244          3,086        66,398         1,328
 2011         20,244           0           0           0        20,244          2,153        68,551           839
 2012         20,244           0           0           0        20,244          1,258        69,809           445
 2013         20,244           0           0           0        20,244            397        70,206           129
 2014              0           0           0           0             0              0        70,206             0
 2015              0           0           0           0             0              0        70,206             0
 2016              0           0           0           0             0              0        70,206             0

 SUBTOT      242,928           0           0           0       242,928         70,206                      49,723
 REMAIN            0           0           0           0             0              0        70,206             0
 TOTAL       242,928           0           0           0       242,928         70,206                      49,723


   LIFE OF EVALUATION IS 12.00 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO


                             TENGASCO, INC. TABLE                             89
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   28-T16S-R16W                                            PROVED
     ANDRE #1   (KSSC-LNSG)                                                            SHUT-IN

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         4,386
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         4,131
 REMARKS -                                                                                 15.00% -         3,897
                                                                                           20.00% -         3,684
                                                                                           25.00% -         3,488




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           802           0           0             702           0           0.000      17.24     0.00
 2003     1           825           0           0             721           0           0.000      17.24     0.00
 2004     1           775           0           0             679           0           0.000      17.24     0.00
 2005     1           490           0           0             429           0           0.000      17.24     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          2,892           0           0           2,531           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              2,892           0           0           2,531           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE           2,892           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,099           0             0            0        12,099          74           0        12,025
 2003           12,439           0             0            0        12,439          76           0        12,363
 2004           11,693           0             0            0        11,693          71           0        11,622
 2005            7,402           0             0            0         7,402          45           0         7,357
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        43,633           0             0            0        43,633         266           0        43,367
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          43,633           0             0            0        43,633         266           0        43,367





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          9,900           0           0           0         9,900          2,125         2,125         2,019
 2003         10,800           0           0           0        10,800          1,563         3,688         1,352
 2004         10,800           0           0           0        10,800            822         4,510           646
 2005          7,200           0           0           0         7,200            157         4,667           114
 2006              0           0           0           0             0              0         4,667             0
 2007              0           0           0           0             0              0         4,667             0
 2008              0           0           0           0             0              0         4,667             0
 2009              0           0           0           0             0              0         4,667             0
 2010              0           0           0           0             0              0         4,667             0
 2011              0           0           0           0             0              0         4,667             0
 2012              0           0           0           0             0              0         4,667             0
 2013              0           0           0           0             0              0         4,667             0
 2014              0           0           0           0             0              0         4,667             0
 2015              0           0           0           0             0              0         4,667             0
 2016              0           0           0           0             0              0         4,667             0

 SUBTOT       38,700           0           0           0        38,700          4,667                       4,131
 REMAIN            0           0           0           0             0              0         4,667             0
 TOTAL        38,700           0           0           0        38,700          4,667                       4,131


   LIFE OF EVALUATION IS 3.67 YEARS.
   FINAL PRODUCTION RATE: 60 BBLS/MO


                                 TENGASCO, INC.                        TABLE 90
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T17S-R17W                                            PROVED
     APPL #1   (TOPEKA)                                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -         1,365
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -         1,265
 REMARKS -                                                                                 15.00% -         1,176
                                                                                           20.00% -         1,097
                                                                                           25.00% -         1,026




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           3               0           0           2.099       0.00     2.13
 2003     1             0           0           2               0           0           2.036       0.00     2.13
 2004     1             0           0           3               0           0           1.975       0.00     2.13
 2005     1             0           0           2               0           0           1.916       0.00     2.13
 2006     1             0           0           2               0           0           1.858       0.00     2.13
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          12               0           0           9.884       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          12               0           0           9.884       0.00     2.13

 CUMULATIVE             0           0         820    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         832        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         4,471            0         4,471           0         194         4,277
 2003                0           0         4,336            0         4,336           0         187         4,149
 2004                0           0         4,206            0         4,206           0         182         4,024
 2005                0           0         4,081            0         4,081           0         177         3,904
 2006                0           0         3,957            0         3,957           0         172         3,785
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        21,051            0        21,051           0         912        20,139
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        21,051            0        21,051           0         912        20,139





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          3,732           0           0           0         3,732            545           545           520
 2003          3,732           0           0           0         3,732            417           962           360
 2004          3,732           0           0           0         3,732            292         1,254           228
 2005          3,732           0           0           0         3,732            172         1,426           123
 2006          3,731           0           0           0         3,731             54         1,480            34
 2007              0           0           0           0             0              0         1,480             0
 2008              0           0           0           0             0              0         1,480             0
 2009              0           0           0           0             0              0         1,480             0
 2010              0           0           0           0             0              0         1,480             0
 2011              0           0           0           0             0              0         1,480             0
 2012              0           0           0           0             0              0         1,480             0
 2013              0           0           0           0             0              0         1,480             0
 2014              0           0           0           0             0              0         1,480             0
 2015              0           0           0           0             0              0         1,480             0
 2016              0           0           0           0             0              0         1,480             0

 SUBTOT       18,659           0           0           0        18,659          1,480                       1,265
 REMAIN            0           0           0           0             0              0         1,480             0
 TOTAL        18,659           0           0           0        18,659          1,480                       1,265


   LIFE OF EVALUATION IS 5.00 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                  TENGASCO, INC.                       TABLE 91
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T17S-R17W                                            PROVED
     APPL #2   (TOPEKA)                                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -         8,378
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -         7,896
 REMARKS -                                                                                 15.00% -         7,458
                                                                                           20.00% -         7,059
                                                                                           25.00% -         6,695




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           4.083       0.00     2.13
 2003     1             0           0           5               0           0           3.348       0.00     2.13
 2004     1             0           0           3               0           0           2.746       0.00     2.13
 2005     1             0           0           3               0           0           2.251       0.00     2.13
 2006     1             0           0           1               0           0           0.168       0.00     2.13
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          17               0           0          12.596       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          17               0           0          12.596       0.00     2.13

 CUMULATIVE             0           0         449    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         466        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         8,697            0         8,697           0         377         8,320
 2003                0           0         7,132            0         7,132           0         308         6,824
 2004                0           0         5,848            0         5,848           0         254         5,594
 2005                0           0         4,796            0         4,796           0         207         4,589
 2006                0           0           358            0           358           0          16           342
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        26,831            0        26,831           0       1,162        25,669
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        26,831            0        26,831           0       1,162        25,669





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,104           0           0           0         4,104          4,216         4,216         4,026
 2003          4,104           0           0           0         4,104          2,720         6,936         2,353
 2004          4,104           0           0           0         4,104          1,490         8,426         1,169
 2005          4,104           0           0           0         4,104            485         8,911           348
 2006            342           0           0           0           342              0         8,911             0
 2007              0           0           0           0             0              0         8,911             0
 2008              0           0           0           0             0              0         8,911             0
 2009              0           0           0           0             0              0         8,911             0
 2010              0           0           0           0             0              0         8,911             0
 2011              0           0           0           0             0              0         8,911             0
 2012              0           0           0           0             0              0         8,911             0
 2013              0           0           0           0             0              0         8,911             0
 2014              0           0           0           0             0              0         8,911             0
 2015              0           0           0           0             0              0         8,911             0
 2016              0           0           0           0             0              0         8,911             0

 SUBTOT       16,758           0           0           0        16,758          8,911                       7,896
 REMAIN            0           0           0           0             0              0         8,911             0
 TOTAL        16,758           0           0           0        16,758          8,911                       7,896

   LIFE OF EVALUATION IS 4.08 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO



                                  TENGASCO, INC.                       TABLE 92
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   36-T17S-R17W                                            PROVED
     BEAHM #1   (LANSING)                                                              PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         434    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         434        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                  TENGASCO, INC.                       TABLE 93
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   15-T17S-R17W                                            PROVED
     BIEBER #1   (TOPEKA)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        30,596
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        21,790
 REMARKS -                                                                                 15.00% -        16,702
                                                                                           20.00% -        13,475
                                                                                           25.00% -        11,274




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.358       0.00     2.13
 2003     1             0           0           5               0           0           3.290       0.00     2.13
 2004     1             0           0           4               0           0           3.225       0.00     2.13
 2005     1             0           0           4               0           0           3.160       0.00     2.13
 2006     1             0           0           4               0           0           3.097       0.00     2.13
 2007     1             0           0           4               0           0           3.035       0.00     2.13
 2008     1             0           0           4               0           0           2.974       0.00     2.13
 2009     1             0           0           4               0           0           2.915       0.00     2.13
 2010     1             0           0           4               0           0           2.856       0.00     2.13
 2011     1             0           0           4               0           0           2.799       0.00     2.13
 2012     1             0           0           3               0           0           2.743       0.00     2.13
 2013     1             0           0           4               0           0           2.688       0.00     2.13
 2014     1             0           0           3               0           0           2.635       0.00     2.13
 2015     1             0           0           4               0           0           2.582       0.00     2.13
 2016     1             0           0           3               0           0           2.530       0.00     2.13

 SUB-TOTAL              0           0          58               0           0          43.887       0.00     2.13
 REMAINDER              0           0          48               0           0          36.484       0.00     2.13
 TOTAL                  0           0         106               0           0          80.371       0.00     2.13

 CUMULATIVE             0           0          78    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         184        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,152            0         7,152           0         310         6,842
 2003                0           0         7,008            0         7,008           0         303         6,705
 2004                0           0         6,868            0         6,868           0         298         6,570
 2005                0           0         6,731            0         6,731           0         291         6,440
 2006                0           0         6,597            0         6,597           0         286         6,311
 2007                0           0         6,464            0         6,464           0         280         6,184
 2008                0           0         6,335            0         6,335           0         274         6,061
 2009                0           0         6,209            0         6,209           0         269         5,940
 2010                0           0         6,084            0         6,084           0         263         5,821
 2011                0           0         5,963            0         5,963           0         258         5,705
 2012                0           0         5,843            0         5,843           0         253         5,590
 2013                0           0         5,727            0         5,727           0         248         5,479
 2014                0           0         5,611            0         5,611           0         243         5,368
 2015                0           0         5,500            0         5,500           0         238         5,262
 2016                0           0         5,390            0         5,390           0         234         5,156

 SUB-TOT             0           0        93,482            0        93,482           0       4,048        89,434
 REMAIN              0           0        77,711            0        77,711           0       3,365        74,346
 TOTAL               0           0       171,193            0       171,193           0       7,413       163,780





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,600           0           0           0         3,600          3,242         3,242         3,087
 2003          3,600           0           0           0         3,600          3,105         6,347         2,676
 2004          3,600           0           0           0         3,600          2,970         9,317         2,317
 2005          3,600           0           0           0         3,600          2,840        12,157         2,006
 2006          3,600           0           0           0         3,600          2,711        14,868         1,733
 2007          3,600           0           0           0         3,600          2,584        17,452         1,496
 2008          3,600           0           0           0         3,600          2,461        19,913         1,289
 2009          3,600           0           0           0         3,600          2,340        22,253         1,110
 2010          3,600           0           0           0         3,600          2,221        24,474           953
 2011          3,600           0           0           0         3,600          2,105        26,579           818
 2012          3,600           0           0           0         3,600          1,990        28,569           700
 2013          3,600           0           0           0         3,600          1,879        30,448           599
 2014          3,600           0           0           0         3,600          1,768        32,216           509
 2015          3,600           0           0           0         3,600          1,662        33,878           434
 2016          3,600           0           0           0         3,600          1,556        35,434           368

 SUBTOT       54,000           0           0           0        54,000         35,434                      20,095
 REMAIN       62,100           0           0           0        62,100         12,246        47,680         1,695
 TOTAL       116,100           0           0           0       116,100         47,680                      21,790


   LIFE OF EVALUATION IS 32.25 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                  TENGASCO, INC.                       TABLE 94
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   15-T17S-R17W                                            PROVED
     BIEBER -A- #1   (TOPEKA)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        64,339
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        43,499
 REMARKS -                                                                                 15.00% -        32,544
                                                                                           20.00% -        25,940
                                                                                           25.00% -        21,558




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           3.879       0.00     2.13
 2003     1             0           0           5               0           0           3.763       0.00     2.13
 2004     1             0           0           5               0           0           3.650       0.00     2.13
 2005     1             0           0           5               0           0           3.540       0.00     2.13
 2006     1             0           0           4               0           0           3.434       0.00     2.13
 2007     1             0           0           5               0           0           3.331       0.00     2.13
 2008     1             0           0           4               0           0           3.231       0.00     2.13
 2009     1             0           0           4               0           0           3.134       0.00     2.13
 2010     1             0           0           4               0           0           3.040       0.00     2.13
 2011     1             0           0           4               0           0           2.949       0.00     2.13
 2012     1             0           0           4               0           0           2.861       0.00     2.13
 2013     1             0           0           3               0           0           2.775       0.00     2.13
 2014     1             0           0           4               0           0           2.692       0.00     2.13
 2015     1             0           0           3               0           0           2.611       0.00     2.13
 2016     1             0           0           4               0           0           2.532       0.00     2.13

 SUB-TOTAL              0           0          63               0           0          47.422       0.00     2.13
 REMAINDER              0           0          55               0           0          41.655       0.00     2.13
 TOTAL                  0           0         118               0           0          89.077       0.00     2.13

 CUMULATIVE             0           0          77    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         195        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         8,263            0         8,263           0         358         7,905
 2003                0           0         8,014            0         8,014           0         347         7,667
 2004                0           0         7,775            0         7,775           0         336         7,439
 2005                0           0         7,541            0         7,541           0         327         7,214
 2006                0           0         7,315            0         7,315           0         317         6,998
 2007                0           0         7,095            0         7,095           0         307         6,788
 2008                0           0         6,883            0         6,883           0         298         6,585
 2009                0           0         6,676            0         6,676           0         289         6,387
 2010                0           0         6,476            0         6,476           0         280         6,196
 2011                0           0         6,281            0         6,281           0         272         6,009
 2012                0           0         6,093            0         6,093           0         264         5,829
 2013                0           0         5,911            0         5,911           0         256         5,655
 2014                0           0         5,733            0         5,733           0         248         5,485
 2015                0           0         5,561            0         5,561           0         241         5,320
 2016                0           0         5,394            0         5,394           0         234         5,160

 SUB-TOT             0           0       101,011            0       101,011           0       4,374        96,637
 REMAIN              0           0        88,724            0        88,724           0       3,842        84,882
 TOTAL               0           0       189,735            0       189,735           0       8,216       181,519





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,812           0           0           0         1,812          6,093         6,093         5,801
 2003          1,812           0           0           0         1,812          5,855        11,948         5,047
 2004          1,812           0           0           0         1,812          5,627        17,575         4,390
 2005          1,812           0           0           0         1,812          5,402        22,977         3,815
 2006          1,812           0           0           0         1,812          5,186        28,163         3,315
 2007          1,812           0           0           0         1,812          4,976        33,139         2,880
 2008          1,812           0           0           0         1,812          4,773        37,912         2,500
 2009          1,812           0           0           0         1,812          4,575        42,487         2,170
 2010          1,812           0           0           0         1,812          4,384        46,871         1,881
 2011          1,812           0           0           0         1,812          4,197        51,068         1,631
 2012          1,812           0           0           0         1,812          4,017        55,085         1,413
 2013          1,812           0           0           0         1,812          3,843        58,928         1,224
 2014          1,812           0           0           0         1,812          3,673        62,601         1,058
 2015          1,812           0           0           0         1,812          3,508        66,109           916
 2016          1,812           0           0           0         1,812          3,348        69,457           790

 SUBTOT       27,180           0           0           0        27,180         69,457                      38,831
 REMAIN       42,280           0           0           0        42,280         42,602       112,059         4,668
 TOTAL        69,460           0           0           0        69,460        112,059                      43,499


   LIFE OF EVALUATION IS 38.33 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO


                                  TENGASCO, INC.                       TABLE 95
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   34-T17S-R16W                                            PROVED
     BRACK -A- #3   (GRANITE WASH)                                                     PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          29    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          29        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                  TENGASCO, INC.                       TABLE 96
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   7-T16S-R17W                                             PROVED
     BREIT #1   (TOPEKA)                                                               PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          31    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          31        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO

                                  TENGASCO, INC.                       TABLE 97
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   7-T16S-R17W                                             PROVED
     BREIT-HOLZMEISTER -B-   (TOPEKA)                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.861328                         17.24                               5.00% -         8,221
 FINAL   -   1.000000  0.861328                         17.24                              10.00% -         6,923
 REMARKS -                                                                                 15.00% -         5,931
                                                                                           20.00% -         5,159
                                                                                           25.00% -         4,548



                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           274           0           0             236           0           0.000      17.24     0.00
 2003     1           263           0           0             227           0           0.000      17.24     0.00
 2004     1           253           0           0             217           0           0.000      17.24     0.00
 2005     1           242           0           0             209           0           0.000      17.24     0.00
 2006     1           233           0           0             201           0           0.000      17.24     0.00
 2007     1           223           0           0             192           0           0.000      17.24     0.00
 2008     1           215           0           0             185           0           0.000      17.24     0.00
 2009     1           206           0           0             177           0           0.000      17.24     0.00
 2010     1           198           0           0             171           0           0.000      17.24     0.00
 2011     1           189           0           0             163           0           0.000      17.24     0.00
 2012     1           147           0           0             126           0           0.000      17.24     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          2,443           0           0           2,104           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              2,443           0           0           2,104           0           0.000      17.24     0.00

 CUMULATIVE        13,832           0           0
 ULTIMATE          16,275           0           0



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            4,070           0             0            0         4,070         176           0         3,894
 2003            3,907           0             0            0         3,907         169           0         3,738
 2004            3,750           0             0            0         3,750         163           0         3,587
 2005            3,601           0             0            0         3,601         156           0         3,445
 2006            3,456           0             0            0         3,456         149           0         3,307
 2007            3,319           0             0            0         3,319         144           0         3,175
 2008            3,185           0             0            0         3,185         138           0         3,047
 2009            3,058           0             0            0         3,058         132           0         2,926
 2010            2,936           0             0            0         2,936         128           0         2,808
 2011            2,818           0             0            0         2,818         122           0         2,696
 2012            2,177           0             0            0         2,177          94           0         2,083
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        36,277           0             0            0        36,277       1,571           0        34,706
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          36,277           0             0            0        36,277       1,571           0        34,706



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,292           0           0           0         2,292          1,602         1,602         1,526
 2003          2,292           0           0           0         2,292          1,446         3,048         1,247
 2004          2,292           0           0           0         2,292          1,295         4,343         1,011
 2005          2,292           0           0           0         2,292          1,153         5,496           815
 2006          2,292           0           0           0         2,292          1,015         6,511           649
 2007          2,292           0           0           0         2,292            883         7,394           511
 2008          2,292           0           0           0         2,292            755         8,149           396
 2009          2,292           0           0           0         2,292            634         8,783           301
 2010          2,292           0           0           0         2,292            516         9,299           222
 2011          2,292           0           0           0         2,292            404         9,703           158
 2012          1,836           0           0           0         1,836            247         9,950            87
 2013              0           0           0           0             0              0         9,950             0
 2014              0           0           0           0             0              0         9,950             0
 2015              0           0           0           0             0              0         9,950             0
 2016              0           0           0           0             0              0         9,950             0

 SUBTOT       24,756           0           0           0        24,756          9,950                       6,923
 REMAIN            0           0           0           0             0              0         9,950             0
 TOTAL        24,756           0           0           0        24,756          9,950                       6,923

   LIFE OF EVALUATION IS 10.80 YEARS.
   FINAL PRODUCTION RATE: 15 BBLS/MO



                                  TENGASCO, INC.                       TABLE 98
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   8-T17S-R16W                                             PROVED
     DECKER -A- #1   (SHAWNEE)                                                         PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.868164                             2.13        5.00% -       139,638
 FINAL   -   1.000000                      0.868164                             2.13       10.00% -        97,562
 REMARKS -                                                                                 15.00% -        74,199
                                                                                           20.00% -        59,672
                                                                                           25.00% -        49,859




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          13               0           0          10.299       0.00     2.13
 2003     1             0           0          12               0           0           9.990       0.00     2.13
 2004     1             0           0          13               0           0           9.690       0.00     2.13
 2005     1             0           0          11               0           0           9.400       0.00     2.13
 2006     1             0           0          12               0           0           9.118       0.00     2.13
 2007     1             0           0          11               0           0           8.844       0.00     2.13
 2008     1             0           0          11               0           0           8.579       0.00     2.13
 2009     1             0           0          10               0           0           8.321       0.00     2.13
 2010     1             0           0          10               0           0           8.072       0.00     2.13
 2011     1             0           0          10               0           0           7.830       0.00     2.13
 2012     1             0           0           9               0           0           7.595       0.00     2.13
 2013     1             0           0          10               0           0           7.367       0.00     2.13
 2014     1             0           0           9               0           0           7.146       0.00     2.13
 2015     1             0           0           8               0           0           6.932       0.00     2.13
 2016     1             0           0           9               0           0           6.724       0.00     2.13

 SUB-TOTAL              0           0         158               0           0         125.907       0.00     2.13
 REMAINDER              0           0         138               0           0         110.591       0.00     2.13
 TOTAL                  0           0         296               0           0         236.498       0.00     2.13

 CUMULATIVE             0           0         543    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         839        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        21,937            0        21,937           0         950        20,987
 2003                0           0        21,279            0        21,279           0         921        20,358
 2004                0           0        20,641            0        20,641           0         894        19,747
 2005                0           0        20,021            0        20,021           0         867        19,154
 2006                0           0        19,421            0        19,421           0         841        18,580
 2007                0           0        18,838            0        18,838           0         816        18,022
 2008                0           0        18,273            0        18,273           0         791        17,482
 2009                0           0        17,724            0        17,724           0         767        16,957
 2010                0           0        17,193            0        17,193           0         745        16,448
 2011                0           0        16,678            0        16,678           0         722        15,956
 2012                0           0        16,176            0        16,176           0         700        15,476
 2013                0           0        15,692            0        15,692           0         680        15,012
 2014                0           0        15,221            0        15,221           0         659        14,562
 2015                0           0        14,764            0        14,764           0         639        14,125
 2016                0           0        14,321            0        14,321           0         620        13,701

 SUB-TOT             0           0       268,179            0       268,179           0      11,612       256,567
 REMAIN              0           0       235,560            0       235,560           0      10,200       225,360
 TOTAL               0           0       503,739            0       503,739           0      21,812       481,927





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,636           0           0           0         6,636         14,351        14,351        13,665
 2003          6,636           0           0           0         6,636         13,722        28,073        11,827
 2004          6,636           0           0           0         6,636         13,111        41,184        10,229
 2005          6,636           0           0           0         6,636         12,518        53,702         8,841
 2006          6,636           0           0           0         6,636         11,944        65,646         7,636
 2007          6,636           0           0           0         6,636         11,386        77,032         6,590
 2008          6,636           0           0           0         6,636         10,846        87,878         5,682
 2009          6,636           0           0           0         6,636         10,321        98,199         4,894
 2010          6,636           0           0           0         6,636          9,812       108,011         4,213
 2011          6,636           0           0           0         6,636          9,320       117,331         3,621
 2012          6,636           0           0           0         6,636          8,840       126,171         3,110
 2013          6,636           0           0           0         6,636          8,376       134,547         2,667
 2014          6,636           0           0           0         6,636          7,926       142,473         2,285
 2015          6,636           0           0           0         6,636          7,489       149,962         1,954
 2016          6,636           0           0           0         6,636          7,065       157,027         1,668

 SUBTOT       99,540           0           0           0        99,540        157,027                      88,882
 REMAIN      154,840           0           0           0       154,840         70,520       227,547         8,680
 TOTAL       254,380           0           0           0       254,380        227,547                      97,562


   LIFE OF EVALUATION IS 38.33 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO


                                  TENGASCO, INC.                       TABLE 99
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   35-T16S-R17W                                            PROVED
     EDWARDS #1   (LANSING)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        16,769
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        14,423
 REMARKS -                                                                                 15.00% -        12,581
                                                                                           20.00% -        11,111
                                                                                           25.00% -         9,921




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.430       0.00     2.13
 2003     1             0           0           4               0           0           3.190       0.00     2.13
 2004     1             0           0           4               0           0           2.967       0.00     2.13
 2005     1             0           0           3               0           0           2.759       0.00     2.13
 2006     1             0           0           4               0           0           2.566       0.00     2.13
 2007     1             0           0           2               0           0           2.386       0.00     2.13
 2008     1             0           0           3               0           0           2.219       0.00     2.13
 2009     1             0           0           3               0           0           2.064       0.00     2.13
 2010     1             0           0           2               0           0           1.919       0.00     2.13
 2011     1             0           0           2               0           0           1.785       0.00     2.13
 2012     1             0           0           2               0           0           1.660       0.00     2.13
 2013     1             0           0           1               0           0           0.527       0.00     2.13
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          34               0           0          27.472       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          34               0           0          27.472       0.00     2.13

 CUMULATIVE             0           0          91    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         125        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,306            0         7,306           0         316         6,990
 2003                0           0         6,794            0         6,794           0         295         6,499
 2004                0           0         6,319            0         6,319           0         273         6,046
 2005                0           0         5,876            0         5,876           0         255         5,621
 2006                0           0         5,465            0         5,465           0         236         5,229
 2007                0           0         5,082            0         5,082           0         220         4,862
 2008                0           0         4,727            0         4,727           0         205         4,522
 2009                0           0         4,396            0         4,396           0         190         4,206
 2010                0           0         4,088            0         4,088           0         177         3,911
 2011                0           0         3,802            0         3,802           0         165         3,637
 2012                0           0         3,536            0         3,536           0         153         3,383
 2013                0           0         1,123            0         1,123           0          49         1,074
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        58,514            0        58,514           0       2,534        55,980
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        58,514            0        58,514           0       2,534        55,980





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,192           0           0           0         3,192          3,798         3,798         3,619
 2003          3,192           0           0           0         3,192          3,307         7,105         2,853
 2004          3,192           0           0           0         3,192          2,854         9,959         2,228
 2005          3,192           0           0           0         3,192          2,429        12,388         1,718
 2006          3,192           0           0           0         3,192          2,037        14,425         1,303
 2007          3,192           0           0           0         3,192          1,670        16,095           968
 2008          3,192           0           0           0         3,192          1,330        17,425           698
 2009          3,192           0           0           0         3,192          1,014        18,439           482
 2010          3,192           0           0           0         3,192            719        19,158           309
 2011          3,192           0           0           0         3,192            445        19,603           174
 2012          3,192           0           0           0         3,192            191        19,794            68
 2013          1,064           0           0           0         1,064             10        19,804             3
 2014              0           0           0           0             0              0        19,804             0
 2015              0           0           0           0             0              0        19,804             0
 2016              0           0           0           0             0              0        19,804             0

 SUBTOT       36,176           0           0           0        36,176         19,804                      14,423
 REMAIN            0           0           0           0             0              0        19,804             0
 TOTAL        36,176           0           0           0        36,176         19,804                      14,423


   LIFE OF EVALUATION IS 11.33 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                            TENGASCO, INC. TABLE 100
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T17S-R16W                                            PROVED
     ELDER #1   (TOPEKA)                                                               PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                           2.13        5.00% -             1
 FINAL   -   1.000000                                                           2.13       10.00% -             1
 REMARKS -                                                                                 15.00% -             1
                                                                                           20.00% -             1
                                                                                           25.00% -             1




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           0               0           0           0.344       0.00     2.13
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.344       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.344       0.00     2.13

 CUMULATIVE             0           0          53    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          53        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                      
 2002                0           0           733            0           733           0          32           701
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0           733            0           733           0          32           701
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0           733            0           733           0          32           701





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002            700           0           0           0           700              1             1             1
 2003              0           0           0           0             0              0             1             0
 2004              0           0           0           0             0              0             1             0
 2005              0           0           0           0             0              0             1             0
 2006              0           0           0           0             0              0             1             0
 2007              0           0           0           0             0              0             1             0
 2008              0           0           0           0             0              0             1             0
 2009              0           0           0           0             0              0             1             0
 2010              0           0           0           0             0              0             1             0
 2011              0           0           0           0             0              0             1             0
 2012              0           0           0           0             0              0             1             0
 2013              0           0           0           0             0              0             1             0
 2014              0           0           0           0             0              0             1             0
 2015              0           0           0           0             0              0             1             0
 2016              0           0           0           0             0              0             1             0

 SUBTOT          700           0           0           0           700              1                           1
 REMAIN            0           0           0           0             0              0             1             0
 TOTAL           700           0           0           0           700              1                           1


   LIFE OF EVALUATION IS 0.17 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                 TENGASCO, INC.                        TABLE 101
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   25-T17S-R17W                                            PROVED
     FOOS #1   (LANSING)                                                               PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        55,644
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        43,953
 REMARKS -                                                                                 15.00% -        35,979
                                                                                           20.00% -        30,301
                                                                                           25.00% -        26,102




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           9               0           0           6.534       0.00     2.13
 2003     1             0           0           8               0           0           6.207       0.00     2.13
 2004     1             0           0           8               0           0           5.897       0.00     2.13
 2005     1             0           0           7               0           0           5.602       0.00     2.13
 2006     1             0           0           7               0           0           5.322       0.00     2.13
 2007     1             0           0           7               0           0           5.056       0.00     2.13
 2008     1             0           0           6               0           0           4.803       0.00     2.13
 2009     1             0           0           6               0           0           4.563       0.00     2.13
 2010     1             0           0           6               0           0           4.334       0.00     2.13
 2011     1             0           0           5               0           0           4.118       0.00     2.13
 2012     1             0           0           6               0           0           3.912       0.00     2.13
 2013     1             0           0           5               0           0           3.716       0.00     2.13
 2014     1             0           0           4               0           0           3.530       0.00     2.13
 2015     1             0           0           5               0           0           3.354       0.00     2.13
 2016     1             0           0           4               0           0           3.186       0.00     2.13

 SUB-TOTAL              0           0          93               0           0          70.134       0.00     2.13
 REMAINDER              0           0          19               0           0          14.094       0.00     2.13
 TOTAL                  0           0         112               0           0          84.228       0.00     2.13

 CUMULATIVE             0           0          99    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         211        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        13,916            0        13,916           0         603        13,313
 2003                0           0        13,221            0        13,221           0         572        12,649
 2004                0           0        12,560            0        12,560           0         544        12,016
 2005                0           0        11,931            0        11,931           0         517        11,414
 2006                0           0        11,335            0        11,335           0         490        10,845
 2007                0           0        10,769            0        10,769           0         467        10,302
 2008                0           0        10,229            0        10,229           0         443         9,786
 2009                0           0         9,719            0         9,719           0         420         9,299
 2010                0           0         9,232            0         9,232           0         400         8,832
 2011                0           0         8,771            0         8,771           0         380         8,391
 2012                0           0         8,332            0         8,332           0         361         7,971
 2013                0           0         7,916            0         7,916           0         342         7,574
 2014                0           0         7,520            0         7,520           0         326         7,194
 2015                0           0         7,144            0         7,144           0         309         6,835
 2016                0           0         6,786            0         6,786           0         294         6,492

 SUB-TOT             0           0       149,381            0       149,381           0       6,468       142,913
 REMAIN              0           0        30,020            0        30,020           0       1,300        28,720
 TOTAL               0           0       179,401            0       179,401           0       7,768       171,633





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,860           0           0           0         4,860          8,453         8,453         8,051
 2003          4,860           0           0           0         4,860          7,789        16,242         6,716
 2004          4,860           0           0           0         4,860          7,156        23,398         5,585
 2005          4,860           0           0           0         4,860          6,554        29,952         4,630
 2006          4,860           0           0           0         4,860          5,985        35,937         3,828
 2007          4,860           0           0           0         4,860          5,442        41,379         3,151
 2008          4,860           0           0           0         4,860          4,926        46,305         2,582
 2009          4,860           0           0           0         4,860          4,439        50,744         2,106
 2010          4,860           0           0           0         4,860          3,972        54,716         1,706
 2011          4,860           0           0           0         4,860          3,531        58,247         1,373
 2012          4,860           0           0           0         4,860          3,111        61,358         1,095
 2013          4,860           0           0           0         4,860          2,714        64,072           865
 2014          4,860           0           0           0         4,860          2,334        66,406           673
 2015          4,860           0           0           0         4,860          1,975        68,381           516
 2016          4,860           0           0           0         4,860          1,632        70,013           386

 SUBTOT       72,900           0           0           0        72,900         70,013                      43,263
 REMAIN       25,110           0           0           0        25,110          3,610        73,623           690
 TOTAL        98,010           0           0           0        98,010         73,623                      43,953


   LIFE OF EVALUATION IS 20.17 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO


                                 TENGASCO, INC.                        TABLE 102
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   22-T17S-R17W                                            PROVED
     FOOS -A- #1   (LANSING)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        10,862
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -         8,920
 REMARKS -                                                                                 15.00% -         7,500
                                                                                           20.00% -         6,434
                                                                                           25.00% -         5,614




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           3               0           0           2.443       0.00     2.13
 2003     1             0           0           3               0           0           2.363       0.00     2.13
 2004     1             0           0           3               0           0           2.286       0.00     2.13
 2005     1             0           0           3               0           0           2.212       0.00     2.13
 2006     1             0           0           3               0           0           2.140       0.00     2.13
 2007     1             0           0           3               0           0           2.071       0.00     2.13
 2008     1             0           0           3               0           0           2.003       0.00     2.13
 2009     1             0           0           2               0           0           1.938       0.00     2.13
 2010     1             0           0           3               0           0           1.875       0.00     2.13
 2011     1             0           0           2               0           0           1.814       0.00     2.13
 2012     1             0           0           2               0           0           1.755       0.00     2.13
 2013     1             0           0           3               0           0           1.698       0.00     2.13
 2014     1             0           0           2               0           0           1.643       0.00     2.13
 2015     1             0           0           2               0           0           1.590       0.00     2.13
 2016     1             0           0           2               0           0           1.538       0.00     2.13

 SUB-TOTAL              0           0          39               0           0          29.369       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          39               0           0          29.369       0.00     2.13

 CUMULATIVE             0           0         556    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         595        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         5,203            0         5,203           0         225         4,978
 2003                0           0         5,034            0         5,034           0         218         4,816
 2004                0           0         4,870            0         4,870           0         211         4,659
 2005                0           0         4,712            0         4,712           0         204         4,508
 2006                0           0         4,558            0         4,558           0         198         4,360
 2007                0           0         4,411            0         4,411           0         191         4,220
 2008                0           0         4,267            0         4,267           0         184         4,083
 2009                0           0         4,129            0         4,129           0         179         3,950
 2010                0           0         3,994            0         3,994           0         173         3,821
 2011                0           0         3,865            0         3,865           0         167         3,698
 2012                0           0         3,739            0         3,739           0         162         3,577
 2013                0           0         3,617            0         3,617           0         157         3,460
 2014                0           0         3,500            0         3,500           0         151         3,349
 2015                0           0         3,386            0         3,386           0         147         3,239
 2016                0           0         3,276            0         3,276           0         142         3,134

 SUB-TOT             0           0        62,561            0        62,561           0       2,709        59,852
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        62,561            0        62,561           0       2,709        59,852





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,084           0           0           0         3,084          1,894         1,894         1,804
 2003          3,084           0           0           0         3,084          1,732         3,626         1,493
 2004          3,084           0           0           0         3,084          1,575         5,201         1,230
 2005          3,084           0           0           0         3,084          1,424         6,625         1,006
 2006          3,084           0           0           0         3,084          1,276         7,901           816
 2007          3,084           0           0           0         3,084          1,136         9,037           658
 2008          3,084           0           0           0         3,084            999        10,036           524
 2009          3,084           0           0           0         3,084            866        10,902           411
 2010          3,084           0           0           0         3,084            737        11,639           316
 2011          3,084           0           0           0         3,084            614        12,253           239
 2012          3,084           0           0           0         3,084            493        12,746           174
 2013          3,084           0           0           0         3,084            376        13,122           120
 2014          3,084           0           0           0         3,084            265        13,387            77
 2015          3,084           0           0           0         3,084            155        13,542            40
 2016          3,084           0           0           0         3,084             50        13,592            12

 SUBTOT       46,260           0           0           0        46,260         13,592                       8,920
 REMAIN            0           0           0           0             0              0        13,592             0
 TOTAL        46,260           0           0           0        46,260         13,592                       8,920


   LIFE OF EVALUATION IS 15.00 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                TENGASCO, INC.                         TABLE 103
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   4-T17S-R17W                                             PROVED
     FRYE #2   (TOPEKA)                                                                PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -         2,464
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -         2,206
 REMARKS -                                                                                 15.00% -         1,988
                                                                                           20.00% -         1,804
                                                                                           25.00% -         1,647




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           1               0           0           0.549       0.00     2.13
 2003     1             0           0           0               0           0           0.491       0.00     2.13
 2004     1             0           0           1               0           0           0.439       0.00     2.13
 2005     1             0           0           0               0           0           0.393       0.00     2.13
 2006     1             0           0           1               0           0           0.352       0.00     2.13
 2007     1             0           0           0               0           0           0.315       0.00     2.13
 2008     1             0           0           0               0           0           0.070       0.00     2.13
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           3               0           0           2.609       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           3               0           0           2.609       0.00     2.13

 CUMULATIVE             0           0          13    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          16        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         1,169            0         1,169           0          51         1,118
 2003                0           0         1,045            0         1,045           0          45         1,000
 2004                0           0           936            0           936           0          40           896
 2005                0           0           838            0           838           0          37           801
 2006                0           0           750            0           750           0          32           718
 2007                0           0           671            0           671           0          29           642
 2008                0           0           150            0           150           0           7           143
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0         5,559            0         5,559           0         241         5,318
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0         5,559            0         5,559           0         241         5,318





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002            408           0           0           0           408            710           710           677
 2003            408           0           0           0           408            592         1,302           511
 2004            408           0           0           0           408            488         1,790           381
 2005            408           0           0           0           408            393         2,183           278
 2006            408           0           0           0           408            310         2,493           198
 2007            408           0           0           0           408            234         2,727           136
 2008             98           0           0           0            98             45         2,772            25
 2009              0           0           0           0             0              0         2,772             0
 2010              0           0           0           0             0              0         2,772             0
 2011              0           0           0           0             0              0         2,772             0
 2012              0           0           0           0             0              0         2,772             0
 2013              0           0           0           0             0              0         2,772             0
 2014              0           0           0           0             0              0         2,772             0
 2015              0           0           0           0             0              0         2,772             0
 2016              0           0           0           0             0              0         2,772             0

 SUBTOT        2,546           0           0           0         2,546          2,772                       2,206
 REMAIN            0           0           0           0             0              0         2,772             0
 TOTAL         2,546           0           0           0         2,546          2,772                       2,206


   LIFE OF EVALUATION IS 6.24 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO



                            TENGASCO, INC. TABLE 104
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T17S-R16W                                            PROVED
     GIESICK #1   (KANSAS CITY)                                                        PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -       122,662
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -       101,493
 REMARKS -                                                                                 15.00% -        85,894
                                                                                           20.00% -        74,096
                                                                                           25.00% -        64,958




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          23               0           0          18.761       0.00     2.13
 2003     1             0           0          22               0           0          17.635       0.00     2.13
 2004     1             0           0          21               0           0          16.577       0.00     2.13
 2005     1             0           0          19               0           0          15.582       0.00     2.13
 2006     1             0           0          18               0           0          14.647       0.00     2.13
 2007     1             0           0          17               0           0          13.769       0.00     2.13
 2008     1             0           0          17               0           0          12.942       0.00     2.13
 2009     1             0           0          15               0           0          12.166       0.00     2.13
 2010     1             0           0          14               0           0          11.436       0.00     2.13
 2011     1             0           0          13               0           0          10.750       0.00     2.13
 2012     1             0           0          13               0           0          10.105       0.00     2.13
 2013     1             0           0          12               0           0           9.498       0.00     2.13
 2014     1             0           0          11               0           0           8.929       0.00     2.13
 2015     1             0           0          10               0           0           8.393       0.00     2.13
 2016     1             0           0          10               0           0           7.889       0.00     2.13

 SUB-TOTAL              0           0         235               0           0         189.079       0.00     2.13
 REMAINDER              0           0           1               0           0           0.636       0.00     2.13
 TOTAL                  0           0         236               0           0         189.715       0.00     2.13

 CUMULATIVE             0           0         859    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0       1,095        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        39,960            0        39,960           0       1,730        38,230
 2003                0           0        37,563            0        37,563           0       1,627        35,936
 2004                0           0        35,309            0        35,309           0       1,529        33,780
 2005                0           0        33,190            0        33,190           0       1,437        31,753
 2006                0           0        31,199            0        31,199           0       1,351        29,848
 2007                0           0        29,327            0        29,327           0       1,270        28,057
 2008                0           0        27,567            0        27,567           0       1,193        26,374
 2009                0           0        25,913            0        25,913           0       1,122        24,791
 2010                0           0        24,359            0        24,359           0       1,055        23,304
 2011                0           0        22,897            0        22,897           0         991        21,906
 2012                0           0        21,523            0        21,523           0         932        20,591
 2013                0           0        20,232            0        20,232           0         876        19,356
 2014                0           0        19,018            0        19,018           0         824        18,194
 2015                0           0        17,876            0        17,876           0         774        17,102
 2016                0           0        16,805            0        16,805           0         728        16,077

 SUB-TOT             0           0       402,738            0       402,738           0      17,439       385,299
 REMAIN              0           0         1,354            0         1,354           0          58         1,296
 TOTAL               0           0       404,092            0       404,092           0      17,497       386,595





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,540           0           0           0        15,540         22,690        22,690        21,615
 2003         15,540           0           0           0        15,540         20,396        43,086        17,589
 2004         15,540           0           0           0        15,540         18,240        61,326        14,240
 2005         15,540           0           0           0        15,540         16,213        77,539        11,457
 2006         15,540           0           0           0        15,540         14,308        91,847         9,154
 2007         15,540           0           0           0        15,540         12,517       104,364         7,249
 2008         15,540           0           0           0        15,540         10,834       115,198         5,681
 2009         15,540           0           0           0        15,540          9,251       124,449         4,391
 2010         15,540           0           0           0        15,540          7,764       132,213         3,337
 2011         15,540           0           0           0        15,540          6,366       138,579         2,477
 2012         15,540           0           0           0        15,540          5,051       143,630         1,779
 2013         15,540           0           0           0        15,540          3,816       147,446         1,218
 2014         15,540           0           0           0        15,540          2,654       150,100           767
 2015         15,540           0           0           0        15,540          1,562       151,662           410
 2016         15,540           0           0           0        15,540            537       152,199           129

 SUBTOT      233,100           0           0           0       233,100        152,199                     101,493
 REMAIN        1,295           0           0           0         1,295              1       152,200             0
 TOTAL       234,395           0           0           0       234,395        152,200                     101,493


   LIFE OF EVALUATION IS 15.08 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO


                                 TENGASCO, INC.                        TABLE 105
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T17S-R17W                                            PROVED
     GILLIG #1   (TOPEKA)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        28,522
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        22,045
 REMARKS -                                                                                 15.00% -        17,787
                                                                                           20.00% -        14,835
                                                                                           25.00% -        12,695




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           2.978       0.00     2.13
 2003     1             0           0           3               0           0           2.838       0.00     2.13
 2004     1             0           0           4               0           0           2.705       0.00     2.13
 2005     1             0           0           3               0           0           2.578       0.00     2.13
 2006     1             0           0           3               0           0           2.457       0.00     2.13
 2007     1             0           0           3               0           0           2.341       0.00     2.13
 2008     1             0           0           3               0           0           2.231       0.00     2.13
 2009     1             0           0           2               0           0           2.126       0.00     2.13
 2010     1             0           0           3               0           0           2.026       0.00     2.13
 2011     1             0           0           2               0           0           1.931       0.00     2.13
 2012     1             0           0           2               0           0           1.840       0.00     2.13
 2013     1             0           0           3               0           0           1.754       0.00     2.13
 2014     1             0           0           2               0           0           1.671       0.00     2.13
 2015     1             0           0           2               0           0           1.593       0.00     2.13
 2016     1             0           0           1               0           0           1.518       0.00     2.13

 SUB-TOTAL              0           0          40               0           0          32.587       0.00     2.13
 REMAINDER              0           0          13               0           0           9.754       0.00     2.13
 TOTAL                  0           0          53               0           0          42.341       0.00     2.13

 CUMULATIVE             0           0         621    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         674        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,344            0         6,344           0         275         6,069
 2003                0           0         6,046            0         6,046           0         261         5,785
 2004                0           0         5,761            0         5,761           0         250         5,511
 2005                0           0         5,491            0         5,491           0         238         5,253
 2006                0           0         5,233            0         5,233           0         226         5,007
 2007                0           0         4,987            0         4,987           0         216         4,771
 2008                0           0         4,752            0         4,752           0         206         4,546
 2009                0           0         4,529            0         4,529           0         196         4,333
 2010                0           0         4,316            0         4,316           0         187         4,129
 2011                0           0         4,114            0         4,114           0         178         3,936
 2012                0           0         3,920            0         3,920           0         170         3,750
 2013                0           0         3,735            0         3,735           0         162         3,573
 2014                0           0         3,561            0         3,561           0         154         3,407
 2015                0           0         3,392            0         3,392           0         147         3,245
 2016                0           0         3,234            0         3,234           0         140         3,094

 SUB-TOT             0           0        69,415            0        69,415           0       3,006        66,409
 REMAIN              0           0        20,776            0        20,776           0         899        19,877
 TOTAL               0           0        90,191            0        90,191           0       3,905        86,286





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,064           0           0           0         2,064          4,005         4,005         3,814
 2003          2,064           0           0           0         2,064          3,721         7,726         3,208
 2004          2,064           0           0           0         2,064          3,447        11,173         2,690
 2005          2,064           0           0           0         2,064          3,189        14,362         2,253
 2006          2,064           0           0           0         2,064          2,943        17,305         1,882
 2007          2,064           0           0           0         2,064          2,707        20,012         1,567
 2008          2,064           0           0           0         2,064          2,482        22,494         1,301
 2009          2,064           0           0           0         2,064          2,269        24,763         1,077
 2010          2,064           0           0           0         2,064          2,065        26,828           886
 2011          2,064           0           0           0         2,064          1,872        28,700           728
 2012          2,064           0           0           0         2,064          1,686        30,386           593
 2013          2,064           0           0           0         2,064          1,509        31,895           481
 2014          2,064           0           0           0         2,064          1,343        33,238           387
 2015          2,064           0           0           0         2,064          1,181        34,419           309
 2016          2,064           0           0           0         2,064          1,030        35,449           243

 SUBTOT       30,960           0           0           0        30,960         35,449                      21,419
 REMAIN       16,340           0           0           0        16,340          3,537        38,986           626
 TOTAL        47,300           0           0           0        47,300         38,986                      22,045


   LIFE OF EVALUATION IS 22.92 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO

                              TENGASCO, INC.                 TABLE 106
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
   TENGASCO, INC. - OPERATOR   9-T17S-R17W                                             PROVED
     GRUMBEIN -A- #1   (KSSC-LNSG)                                                     PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        20,273
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        16,562
 REMARKS -                                                                                 15.00% -        13,886
                                                                                           20.00% -        11,896
                                                                                           25.00% -        10,375




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           2.834       0.00     2.13
 2003     1             0           0           3               0           0           2.669       0.00     2.13
 2004     1             0           0           3               0           0           2.515       0.00     2.13
 2005     1             0           0           3               0           0           2.369       0.00     2.13
 2006     1             0           0           3               0           0           2.231       0.00     2.13
 2007     1             0           0           2               0           0           2.102       0.00     2.13
 2008     1             0           0           3               0           0           1.980       0.00     2.13
 2009     1             0           0           2               0           0           1.865       0.00     2.13
 2010     1             0           0           2               0           0           1.757       0.00     2.13
 2011     1             0           0           2               0           0           1.655       0.00     2.13
 2012     1             0           0           2               0           0           1.559       0.00     2.13
 2013     1             0           0           2               0           0           1.469       0.00     2.13
 2014     1             0           0           2               0           0           1.383       0.00     2.13
 2015     1             0           0           1               0           0           1.303       0.00     2.13
 2016     1             0           0           2               0           0           1.228       0.00     2.13

 SUB-TOTAL              0           0          36               0           0          28.919       0.00     2.13
 REMAINDER              0           0           2               0           0           1.618       0.00     2.13
 TOTAL                  0           0          38               0           0          30.537       0.00     2.13

 CUMULATIVE             0           0         120    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         158        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,036            0         6,036           0         261         5,775
 2003                0           0         5,686            0         5,686           0         247         5,439
 2004                0           0         5,356            0         5,356           0         231         5,125
 2005                0           0         5,045            0         5,045           0         219         4,826
 2006                0           0         4,753            0         4,753           0         206         4,547
 2007                0           0         4,477            0         4,477           0         194         4,283
 2008                0           0         4,217            0         4,217           0         182         4,035
 2009                0           0         3,973            0         3,973           0         172         3,801
 2010                0           0         3,743            0         3,743           0         162         3,581
 2011                0           0         3,525            0         3,525           0         153         3,372
 2012                0           0         3,321            0         3,321           0         144         3,177
 2013                0           0         3,128            0         3,128           0         135         2,993
 2014                0           0         2,947            0         2,947           0         128         2,819
 2015                0           0         2,776            0         2,776           0         120         2,656
 2016                0           0         2,615            0         2,615           0         113         2,502

 SUB-TOT             0           0        61,598            0        61,598           0       2,667        58,931
 REMAIN              0           0         3,447            0         3,447           0         149         3,298
 TOTAL               0           0        65,045            0        65,045           0       2,816        62,229





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,232           0           0           0         2,232          3,543         3,543         3,375
 2003          2,232           0           0           0         2,232          3,207         6,750         2,765
 2004          2,232           0           0           0         2,232          2,893         9,643         2,259
 2005          2,232           0           0           0         2,232          2,594        12,237         1,833
 2006          2,232           0           0           0         2,232          2,315        14,552         1,481
 2007          2,232           0           0           0         2,232          2,051        16,603         1,187
 2008          2,232           0           0           0         2,232          1,803        18,406           946
 2009          2,232           0           0           0         2,232          1,569        19,975           744
 2010          2,232           0           0           0         2,232          1,349        21,324           580
 2011          2,232           0           0           0         2,232          1,140        22,464           443
 2012          2,232           0           0           0         2,232            945        23,409           333
 2013          2,232           0           0           0         2,232            761        24,170           243
 2014          2,232           0           0           0         2,232            587        24,757           169
 2015          2,232           0           0           0         2,232            424        25,181           111
 2016          2,232           0           0           0         2,232            270        25,451            64

 SUBTOT       33,480           0           0           0        33,480         25,451                      16,533
 REMAIN        3,162           0           0           0         3,162            136        25,587            29
 TOTAL        36,642           0           0           0        36,642         25,587                      16,562


   LIFE OF EVALUATION IS 16.42 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO


                                 TENGASCO, INC.                        TABLE 107
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T17S-R17W                                            PROVED
     HANHARDT #1   (TOPEKA)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        25,849
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        19,181
 REMARKS -                                                                                 15.00% -        15,097
                                                                                           20.00% -        12,397
                                                                                           25.00% -        10,500




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           3               0           0           2.161       0.00     2.13
 2003     1             0           0           3               0           0           2.066       0.00     2.13
 2004     1             0           0           2               0           0           1.975       0.00     2.13
 2005     1             0           0           3               0           0           1.888       0.00     2.13
 2006     1             0           0           2               0           0           1.805       0.00     2.13
 2007     1             0           0           2               0           0           1.725       0.00     2.13
 2008     1             0           0           3               0           0           1.649       0.00     2.13
 2009     1             0           0           2               0           0           1.577       0.00     2.13
 2010     1             0           0           2               0           0           1.508       0.00     2.13
 2011     1             0           0           2               0           0           1.441       0.00     2.13
 2012     1             0           0           1               0           0           1.378       0.00     2.13
 2013     1             0           0           2               0           0           1.317       0.00     2.13
 2014     1             0           0           2               0           0           1.259       0.00     2.13
 2015     1             0           0           1               0           0           1.204       0.00     2.13
 2016     1             0           0           2               0           0           1.151       0.00     2.13

 SUB-TOTAL              0           0          32               0           0          24.104       0.00     2.13
 REMAINDER              0           0          16               0           0          11.786       0.00     2.13
 TOTAL                  0           0          48               0           0          35.890       0.00     2.13

 CUMULATIVE             0           0         802    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         850        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         4,602            0         4,602           0         199         4,403
 2003                0           0         4,400            0         4,400           0         191         4,209
 2004                0           0         4,207            0         4,207           0         182         4,025
 2005                0           0         4,021            0         4,021           0         174         3,847
 2006                0           0         3,844            0         3,844           0         167         3,677
 2007                0           0         3,675            0         3,675           0         159         3,516
 2008                0           0         3,514            0         3,514           0         152         3,362
 2009                0           0         3,358            0         3,358           0         145         3,213
 2010                0           0         3,212            0         3,212           0         139         3,073
 2011                0           0         3,069            0         3,069           0         133         2,936
 2012                0           0         2,935            0         2,935           0         127         2,808
 2013                0           0         2,806            0         2,806           0         122         2,684
 2014                0           0         2,682            0         2,682           0         116         2,566
 2015                0           0         2,564            0         2,564           0         111         2,453
 2016                0           0         2,451            0         2,451           0         106         2,345

 SUB-TOT             0           0        51,340            0        51,340           0       2,223        49,117
 REMAIN              0           0        25,105            0        25,105           0       1,087        24,018
 TOTAL               0           0        76,445            0        76,445           0       3,310        73,135





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,212           0           0           0         1,212          3,191         3,191         3,039
 2003          1,212           0           0           0         1,212          2,997         6,188         2,583
 2004          1,212           0           0           0         1,212          2,813         9,001         2,196
 2005          1,212           0           0           0         1,212          2,635        11,636         1,861
 2006          1,212           0           0           0         1,212          2,465        14,101         1,576
 2007          1,212           0           0           0         1,212          2,304        16,405         1,334
 2008          1,212           0           0           0         1,212          2,150        18,555         1,126
 2009          1,212           0           0           0         1,212          2,001        20,556           949
 2010          1,212           0           0           0         1,212          1,861        22,417           799
 2011          1,212           0           0           0         1,212          1,724        24,141           670
 2012          1,212           0           0           0         1,212          1,596        25,737           562
 2013          1,212           0           0           0         1,212          1,472        27,209           469
 2014          1,212           0           0           0         1,212          1,354        28,563           390
 2015          1,212           0           0           0         1,212          1,241        29,804           324
 2016          1,212           0           0           0         1,212          1,133        30,937           268

 SUBTOT       18,180           0           0           0        18,180         30,937                      18,146
 REMAIN       17,170           0           0           0        17,170          6,848        37,785         1,035
 TOTAL        35,350           0           0           0        35,350         37,785                      19,181


   LIFE OF EVALUATION IS 29.17 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO


                                 TENGASCO, INC.                        TABLE 108
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T17S-R17W                                            PROVED
     HANHARDT #1-A   (TOPEKA)                                                          PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -         8,680
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -         8,093
 REMARKS -                                                                                 15.00% -         7,568
                                                                                           20.00% -         7,097
                                                                                           25.00% -         6,673




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           8               0           0           5.812       0.00     2.13
 2003     1             0           0           7               0           0           5.301       0.00     2.13
 2004     1             0           0           6               0           0           4.834       0.00     2.13
 2005     1             0           0           6               0           0           4.409       0.00     2.13
 2006     1             0           0           4               0           0           2.722       0.00     2.13
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          31               0           0          23.078       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          31               0           0          23.078       0.00     2.13

 CUMULATIVE             0           0         493    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         524        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        12,380            0        12,380           0         536        11,844
 2003                0           0        11,290            0        11,290           0         489        10,801
 2004                0           0        10,297            0        10,297           0         446         9,851
 2005                0           0         9,391            0         9,391           0         406         8,985
 2006                0           0         5,797            0         5,797           0         251         5,546
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        49,155            0        49,155           0       2,128        47,027
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        49,155            0        49,155           0       2,128        47,027





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          8,076           0           0           0         8,076          3,768         3,768         3,595
 2003          8,076           0           0           0         8,076          2,725         6,493         2,355
 2004          8,076           0           0           0         8,076          1,775         8,268         1,390
 2005          8,076           0           0           0         8,076            909         9,177           647
 2006          5,384           0           0           0         5,384            162         9,339           106
 2007              0           0           0           0             0              0         9,339             0
 2008              0           0           0           0             0              0         9,339             0
 2009              0           0           0           0             0              0         9,339             0
 2010              0           0           0           0             0              0         9,339             0
 2011              0           0           0           0             0              0         9,339             0
 2012              0           0           0           0             0              0         9,339             0
 2013              0           0           0           0             0              0         9,339             0
 2014              0           0           0           0             0              0         9,339             0
 2015              0           0           0           0             0              0         9,339             0
 2016              0           0           0           0             0              0         9,339             0

 SUBTOT       37,688           0           0           0        37,688          9,339                       8,093
 REMAIN            0           0           0           0             0              0         9,339             0
 TOTAL        37,688           0           0           0        37,688          9,339                       8,093


   LIFE OF EVALUATION IS 4.67 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO


                                 TENGASCO, INC.                       TABLE 109
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   24-T17S-R17W                                            PROVED
     HANHARDT #1-A BP   (TOPEKA)                                                       BEHIND PIPE

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        58,173
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        52,300
 REMARKS -                                                                                 15.00% -        47,150
                                                                                           20.00% -        42,619
                                                                                           25.00% -        38,620




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          12               0           0           9.191       0.00     2.13
 2003     1             0           0          17               0           0          12.971       0.00     2.13
 2004     1             0           0          11               0           0           8.073       0.00     2.13
 2005     1             0           0           7               0           0           5.024       0.00     2.13
 2006     1             0           0           3               0           0           2.474       0.00     2.13
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          50               0           0          37.733       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          50               0           0          37.733       0.00     2.13

 CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          50        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        19,578            0        19,578           0         848        18,730
 2003                0           0        27,629            0        27,629           0       1,196        26,433
 2004                0           0        17,195            0        17,195           0         745        16,450
 2005                0           0        10,702            0        10,702           0         463        10,239
 2006                0           0         5,270            0         5,270           0         228         5,042
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        80,374            0        80,374           0       3,480        76,894
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        80,374            0        80,374           0       3,480        76,894





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0      12,000           0        12,000          6,730         6,730         6,031
 2003              0           0           0           0             0         26,433        33,163        22,863
 2004              0           0           0           0             0         16,450        49,613        12,880
 2005              0           0           0           0             0         10,239        59,852         7,257
 2006              0           0           0           0             0          5,042        64,894         3,269
 2007              0           0           0           0             0              0        64,894             0
 2008              0           0           0           0             0              0        64,894             0
 2009              0           0           0           0             0              0        64,894             0
 2010              0           0           0           0             0              0        64,894             0
 2011              0           0           0           0             0              0        64,894             0
 2012              0           0           0           0             0              0        64,894             0
 2013              0           0           0           0             0              0        64,894             0
 2014              0           0           0           0             0              0        64,894             0
 2015              0           0           0           0             0              0        64,894             0
 2016              0           0           0           0             0              0        64,894             0

 SUBTOT            0           0      12,000           0        12,000         64,894                      52,300
 REMAIN            0           0           0           0             0              0        64,894             0
 TOTAL             0           0      12,000           0        12,000         64,894                      52,300


   LIFE OF EVALUATION IS 4.75 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO


                                 TENGASCO, INC.                        TABLE 110
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   29-T16S-R17W                                            PROVED
     HOFFMAN #3   (CHASE)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        44,166
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        31,882
 REMARKS -                                                                                 15.00% -        24,658
                                                                                           20.00% -        20,016
                                                                                           25.00% -        16,819




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           3.946       0.00     2.13
 2003     1             0           0           5               0           0           3.828       0.00     2.13
 2004     1             0           0           5               0           0           3.713       0.00     2.13
 2005     1             0           0           5               0           0           3.601       0.00     2.13
 2006     1             0           0           5               0           0           3.493       0.00     2.13
 2007     1             0           0           4               0           0           3.389       0.00     2.13
 2008     1             0           0           4               0           0           3.287       0.00     2.13
 2009     1             0           0           5               0           0           3.188       0.00     2.13
 2010     1             0           0           4               0           0           3.093       0.00     2.13
 2011     1             0           0           4               0           0           3.000       0.00     2.13
 2012     1             0           0           4               0           0           2.910       0.00     2.13
 2013     1             0           0           3               0           0           2.823       0.00     2.13
 2014     1             0           0           4               0           0           2.738       0.00     2.13
 2015     1             0           0           4               0           0           2.656       0.00     2.13
 2016     1             0           0           3               0           0           2.576       0.00     2.13

 SUB-TOTAL              0           0          64               0           0          48.241       0.00     2.13
 REMAINDER              0           0          44               0           0          33.159       0.00     2.13
 TOTAL                  0           0         108               0           0          81.400       0.00     2.13

 CUMULATIVE             0           0         171    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         279        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         8,405            0         8,405           0         364         8,041
 2003                0           0         8,153            0         8,153           0         353         7,800
 2004                0           0         7,909            0         7,909           0         342         7,567
 2005                0           0         7,671            0         7,671           0         333         7,338
 2006                0           0         7,441            0         7,441           0         322         7,119
 2007                0           0         7,218            0         7,218           0         312         6,906
 2008                0           0         7,001            0         7,001           0         303         6,698
 2009                0           0         6,791            0         6,791           0         295         6,496
 2010                0           0         6,588            0         6,588           0         285         6,303
 2011                0           0         6,389            0         6,389           0         276         6,113
 2012                0           0         6,199            0         6,199           0         269         5,930
 2013                0           0         6,012            0         6,012           0         260         5,752
 2014                0           0         5,832            0         5,832           0         253         5,579
 2015                0           0         5,657            0         5,657           0         245         5,412
 2016                0           0         5,487            0         5,487           0         237         5,250

 SUB-TOT             0           0       102,753            0       102,753           0       4,449        98,304
 REMAIN              0           0        70,629            0        70,629           0       3,058        67,571
 TOTAL               0           0       173,382            0       173,382           0       7,507       165,875





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,108           0           0           0         3,108          4,933         4,933         4,697
 2003          3,108           0           0           0         3,108          4,692         9,625         4,045
 2004          3,108           0           0           0         3,108          4,459        14,084         3,479
 2005          3,108           0           0           0         3,108          4,230        18,314         2,987
 2006          3,108           0           0           0         3,108          4,011        22,325         2,565
 2007          3,108           0           0           0         3,108          3,798        26,123         2,198
 2008          3,108           0           0           0         3,108          3,590        29,713         1,881
 2009          3,108           0           0           0         3,108          3,388        33,101         1,607
 2010          3,108           0           0           0         3,108          3,195        36,296         1,371
 2011          3,108           0           0           0         3,108          3,005        39,301         1,168
 2012          3,108           0           0           0         3,108          2,822        42,123           993
 2013          3,108           0           0           0         3,108          2,644        44,767           842
 2014          3,108           0           0           0         3,108          2,471        47,238           712
 2015          3,108           0           0           0         3,108          2,304        49,542           601
 2016          3,108           0           0           0         3,108          2,142        51,684           506

 SUBTOT       46,620           0           0           0        46,620         51,684                      29,652
 REMAIN       51,800           0           0           0        51,800         15,771        67,455         2,230
 TOTAL        98,420           0           0           0        98,420         67,455                      31,882


   LIFE OF EVALUATION IS 31.67 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO


                                 TENGASCO, INC.                        TABLE 111
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   8-T16S-R17W                                             PROVED
     HOLZMEISTER #1   (SHAWNEE)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          87    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          87        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO

                                 TENGASCO, INC.                        TABLE 112
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   27-T16S-R17W                                            PROVED
     HOLZMEISTER -A- #1                                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          21
 ULTIMATE               0           0          21




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                 TENGASCO, INC.                       TABLE 113
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
   TENGASCO, INC. - OPERATOR   7-T16S-R17W                                             PROVED
     HOLZMEISTER -B- #1   (KC-LANSING)                                                 PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          23    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          23        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                 TENGASCO, INC.                        TABLE 114
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T17S-R17W                                            PROVED
     HONDERICK -C- #1   (LANSING)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -         6,584
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -         5,437
 REMARKS -                                                                                 15.00% -         4,590
                                                                                           20.00% -         3,949
                                                                                           25.00% -         3,453




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           2               0           0           1.672       0.00     2.13
 2003     1             0           0           2               0           0           1.622       0.00     2.13
 2004     1             0           0           2               0           0           1.573       0.00     2.13
 2005     1             0           0           2               0           0           1.526       0.00     2.13
 2006     1             0           0           2               0           0           1.480       0.00     2.13
 2007     1             0           0           2               0           0           1.436       0.00     2.13
 2008     1             0           0           1               0           0           1.392       0.00     2.13
 2009     1             0           0           2               0           0           1.351       0.00     2.13
 2010     1             0           0           2               0           0           1.310       0.00     2.13
 2011     1             0           0           1               0           0           1.271       0.00     2.13
 2012     1             0           0           2               0           0           1.233       0.00     2.13
 2013     1             0           0           1               0           0           1.196       0.00     2.13
 2014     1             0           0           2               0           0           1.160       0.00     2.13
 2015     1             0           0           1               0           0           1.125       0.00     2.13
 2016     1             0           0           1               0           0           0.459       0.00     2.13

 SUB-TOTAL              0           0          25               0           0          19.806       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          25               0           0          19.806       0.00     2.13

 CUMULATIVE             0           0          93    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         118        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         3,561            0         3,561           0         154         3,407
 2003                0           0         3,454            0         3,454           0         150         3,304
 2004                0           0         3,350            0         3,350           0         145         3,205
 2005                0           0         3,249            0         3,249           0         141         3,108
 2006                0           0         3,153            0         3,153           0         136         3,017
 2007                0           0         3,057            0         3,057           0         132         2,925
 2008                0           0         2,966            0         2,966           0         129         2,837
 2009                0           0         2,877            0         2,877           0         124         2,753
 2010                0           0         2,791            0         2,791           0         121         2,670
 2011                0           0         2,707            0         2,707           0         117         2,590
 2012                0           0         2,626            0         2,626           0         114         2,512
 2013                0           0         2,546            0         2,546           0         110         2,436
 2014                0           0         2,471            0         2,471           0         107         2,364
 2015                0           0         2,396            0         2,396           0         104         2,292
 2016                0           0           978            0           978           0          42           936

 SUB-TOT             0           0        42,182            0        42,182           0       1,826        40,356
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        42,182            0        42,182           0       1,826        40,356





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,232           0           0           0         2,232          1,175         1,175         1,119
 2003          2,232           0           0           0         2,232          1,072         2,247           925
 2004          2,232           0           0           0         2,232            973         3,220           759
 2005          2,232           0           0           0         2,232            876         4,096           619
 2006          2,232           0           0           0         2,232            785         4,881           502
 2007          2,232           0           0           0         2,232            693         5,574           402
 2008          2,232           0           0           0         2,232            605         6,179           317
 2009          2,232           0           0           0         2,232            521         6,700           247
 2010          2,232           0           0           0         2,232            438         7,138           188
 2011          2,232           0           0           0         2,232            358         7,496           140
 2012          2,232           0           0           0         2,232            280         7,776            98
 2013          2,232           0           0           0         2,232            204         7,980            65
 2014          2,232           0           0           0         2,232            132         8,112            39
 2015          2,232           0           0           0         2,232             60         8,172            15
 2016            930           0           0           0           930              6         8,178             2

 SUBTOT       32,178           0           0           0        32,178          8,178                       5,437
 REMAIN            0           0           0           0             0              0         8,178             0
 TOTAL        32,178           0           0           0        32,178          8,178                       5,437


   LIFE OF EVALUATION IS 14.42 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO


                                 TENGASCO, INC.                       TABLE 115
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T16S-R17W                                            PROVED
     HOOFER #1   (KSSC-LNSG)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         357
 ULTIMATE               0           0         357




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                 TENGASCO, INC.                        TABLE 116
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   7-T17S-R16W                                             PROVED
     JANSON #2-A   (SHAWNEE)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          29
 ULTIMATE               0           0          29




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO


                                 TENGASCO, INC.                        TABLE 117
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   28-T16S-R16W                                            PROVED
     KAISER -A- #1   (KSSC-LNSG)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                                       
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                               
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        13,954           0           0
 ULTIMATE          13,954           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO


                               TENGASCO, INC.                          TABLE 118
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   2-T17S-R17W                                             PROVED
     KAISER #2   (TOPEKA)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -           447
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -           436
 REMARKS -                                                                                 15.00% -           425
                                                                                           20.00% -           415
                                                                                           25.00% -           405




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.013       0.00     2.13
 2003     1             0           0           2               0           0           1.434       0.00     2.13
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           6               0           0           4.447       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           6               0           0           4.447       0.00     2.13

 CUMULATIVE             0           0          86    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          92        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,417            0         6,417           0         278         6,139
 2003                0           0         3,055            0         3,055           0         132         2,923
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0         9,472            0         9,472           0         410         9,062
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0         9,472            0         9,472           0         410         9,062





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          5,736           0           0           0         5,736            403           403           387
 2003          2,868           0           0           0         2,868             55           458            49
 2004              0           0           0           0             0              0           458             0
 2005              0           0           0           0             0              0           458             0
 2006              0           0           0           0             0              0           458             0
 2007              0           0           0           0             0              0           458             0
 2008              0           0           0           0             0              0           458             0
 2009              0           0           0           0             0              0           458             0
 2010              0           0           0           0             0              0           458             0
 2011              0           0           0           0             0              0           458             0
 2012              0           0           0           0             0              0           458             0
 2013              0           0           0           0             0              0           458             0
 2014              0           0           0           0             0              0           458             0
 2015              0           0           0           0             0              0           458             0
 2016              0           0           0           0             0              0           458             0

 SUBTOT        8,604           0           0           0         8,604            458                         436
 REMAIN            0           0           0           0             0              0           458             0
 TOTAL         8,604           0           0           0         8,604            458                         436


   LIFE OF EVALUATION IS 1.50 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO


                                 TENGASCO, INC.                        TABLE 119
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   25-T17S-R17W                                            PROVED
     KLEWENO #1-21   (TOPEKA)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         412    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         412        SHRINKAGE FACTOR =   8.00 %






                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0


   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO




                                 TENGASCO, INC.                     TABLE    120
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   23-T17S-R17W                                            PROVED
     KLEWENO -A- #1   (TOPEKA)                                                         PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        13,909
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        11,079
 REMARKS -                                                                                 15.00% -         9,117
                                                                                           20.00% -         7,703
                                                                                           25.00% -         6,649




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           2               0           0           1.926       0.00     2.13
 2003     1             0           0           3               0           0           1.843       0.00     2.13
 2004     1             0           0           2               0           0           1.764       0.00     2.13
 2005     1             0           0           2               0           0           1.688       0.00     2.13
 2006     1             0           0           2               0           0           1.616       0.00     2.13
 2007     1             0           0           2               0           0           1.546       0.00     2.13
 2008     1             0           0           2               0           0           1.480       0.00     2.13
 2009     1             0           0           1               0           0           1.416       0.00     2.13
 2010     1             0           0           2               0           0           1.355       0.00     2.13
 2011     1             0           0           2               0           0           1.297       0.00     2.13
 2012     1             0           0           1               0           0           1.241       0.00     2.13
 2013     1             0           0           2               0           0           1.188       0.00     2.13
 2014     1             0           0           1               0           0           1.137       0.00     2.13
 2015     1             0           0           2               0           0           1.088       0.00     2.13
 2016     1             0           0           1               0           0           1.041       0.00     2.13

 SUB-TOTAL              0           0          27               0           0          21.626       0.00     2.13
 REMAINDER              0           0           4               0           0           3.448       0.00     2.13
 TOTAL                  0           0          31               0           0          25.074       0.00     2.13

 CUMULATIVE             0           0          34    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          65        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         4,103            0         4,103           0         178         3,925
 2003                0           0         3,926            0         3,926           0         170         3,756
 2004                0           0         3,757            0         3,757           0         162         3,595
 2005                0           0         3,596            0         3,596           0         156         3,440
 2006                0           0         3,441            0         3,441           0         149         3,292
 2007                0           0         3,293            0         3,293           0         143         3,150
 2008                0           0         3,151            0         3,151           0         136         3,015
 2009                0           0         3,017            0         3,017           0         131         2,886
 2010                0           0         2,886            0         2,886           0         125         2,761
 2011                0           0         2,762            0         2,762           0         119         2,643
 2012                0           0         2,644            0         2,644           0         115         2,529
 2013                0           0         2,529            0         2,529           0         109         2,420
 2014                0           0         2,421            0         2,421           0         105         2,316
 2015                0           0         2,317            0         2,317           0         100         2,217
 2016                0           0         2,217            0         2,217           0          96         2,121

 SUB-TOT             0           0        46,060            0        46,060           0       1,994        44,066
 REMAIN              0           0         7,345            0         7,345           0         318         7,027
 TOTAL               0           0        53,405            0        53,405           0       2,312        51,093






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,764           0           0           0         1,764          2,161         2,161         2,058
 2003          1,764           0           0           0         1,764          1,992         4,153         1,718
 2004          1,764           0           0           0         1,764          1,831         5,984         1,429
 2005          1,764           0           0           0         1,764          1,676         7,660         1,184
 2006          1,764           0           0           0         1,764          1,528         9,188           977
 2007          1,764           0           0           0         1,764          1,386        10,574           803
 2008          1,764           0           0           0         1,764          1,251        11,825           655
 2009          1,764           0           0           0         1,764          1,122        12,947           533
 2010          1,764           0           0           0         1,764            997        13,944           428
 2011          1,764           0           0           0         1,764            879        14,823           342
 2012          1,764           0           0           0         1,764            765        15,588           269
 2013          1,764           0           0           0         1,764            656        16,244           209
 2014          1,764           0           0           0         1,764            552        16,796           159
 2015          1,764           0           0           0         1,764            453        17,249           119
 2016          1,764           0           0           0         1,764            357        17,606            84

 SUBTOT       26,460           0           0           0        26,460         17,606                      10,967
 REMAIN        6,468           0           0           0         6,468            559        18,165           112
 TOTAL        32,928           0           0           0        32,928         18,165                      11,079


   LIFE OF EVALUATION IS 18.67 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO






                                 TENGASCO, INC.                     TABLE    121
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   6-T18S-R16W                                             PROVED
     KOBER #1   (KSSC-LNSG)                                                            PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        13,375
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        11,793
 REMARKS -                                                                                 15.00% -        10,498
                                                                                           20.00% -         9,426
                                                                                           25.00% -         8,531




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           4.237       0.00     2.13
 2003     1             0           0           5               0           0           3.983       0.00     2.13
 2004     1             0           0           5               0           0           3.744       0.00     2.13
 2005     1             0           0           4               0           0           3.519       0.00     2.13
 2006     1             0           0           4               0           0           3.308       0.00     2.13
 2007     1             0           0           4               0           0           3.109       0.00     2.13
 2008     1             0           0           4               0           0           2.923       0.00     2.13
 2009     1             0           0           3               0           0           2.747       0.00     2.13
 2010     1             0           0           3               0           0           2.373       0.00     2.13
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          37               0           0          29.943       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          37               0           0          29.943       0.00     2.13

 CUMULATIVE             0           0         111    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         148        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         9,024            0         9,024           0         391         8,633
 2003                0           0         8,483            0         8,483           0         367         8,116
 2004                0           0         7,974            0         7,974           0         345         7,629
 2005                0           0         7,496            0         7,496           0         325         7,171
 2006                0           0         7,045            0         7,045           0         305         6,740
 2007                0           0         6,623            0         6,623           0         287         6,336
 2008                0           0         6,226            0         6,226           0         269         5,957
 2009                0           0         5,852            0         5,852           0         254         5,598
 2010                0           0         5,056            0         5,056           0         219         4,837
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        63,779            0        63,779           0       2,762        61,017
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        63,779            0        63,779           0       2,762        61,017






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          5,124           0           0           0         5,124          3,509         3,509         3,344
 2003          5,124           0           0           0         5,124          2,992         6,501         2,582
 2004          5,124           0           0           0         5,124          2,505         9,006         1,956
 2005          5,124           0           0           0         5,124          2,047        11,053         1,448
 2006          5,124           0           0           0         5,124          1,616        12,669         1,035
 2007          5,124           0           0           0         5,124          1,212        13,881           703
 2008          5,124           0           0           0         5,124            833        14,714           438
 2009          5,124           0           0           0         5,124            474        15,188           226
 2010          4,697           0           0           0         4,697            140        15,328            61
 2011              0           0           0           0             0              0        15,328             0
 2012              0           0           0           0             0              0        15,328             0
 2013              0           0           0           0             0              0        15,328             0
 2014              0           0           0           0             0              0        15,328             0
 2015              0           0           0           0             0              0        15,328             0
 2016              0           0           0           0             0              0        15,328             0

 SUBTOT       45,689           0           0           0        45,689         15,328                      11,793
 REMAIN            0           0           0           0             0              0        15,328             0
 TOTAL        45,689           0           0           0        45,689         15,328                      11,793

   LIFE OF EVALUATION IS 8.92 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO







                                 TENGASCO, INC.                     TABLE    122
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   21-T17S-R17W                                            PROVED
     LEBSACK -A- #1   (KSSC-LNSG)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.783854                             2.13        5.00% -        12,010
 FINAL   -   1.000000                      0.783854                             2.13       10.00% -         9,777
 REMARKS -                                                                                 15.00% -         8,168
                                                                                           20.00% -         6,976
                                                                                           25.00% -         6,067





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           3               0           0           2.195       0.00     2.13
 2003     1             0           0           3               0           0           2.112       0.00     2.13
 2004     1             0           0           3               0           0           2.031       0.00     2.13
 2005     1             0           0           2               0           0           1.954       0.00     2.13
 2006     1             0           0           3               0           0           1.880       0.00     2.13
 2007     1             0           0           3               0           0           1.809       0.00     2.13
 2008     1             0           0           2               0           0           1.740       0.00     2.13
 2009     1             0           0           2               0           0           1.674       0.00     2.13
 2010     1             0           0           3               0           0           1.610       0.00     2.13
 2011     1             0           0           2               0           0           1.549       0.00     2.13
 2012     1             0           0           2               0           0           1.490       0.00     2.13
 2013     1             0           0           2               0           0           1.433       0.00     2.13
 2014     1             0           0           2               0           0           1.379       0.00     2.13
 2015     1             0           0           2               0           0           1.327       0.00     2.13
 2016     1             0           0           1               0           0           1.276       0.00     2.13

 SUB-TOTAL              0           0          35               0           0          25.459       0.00     2.13
 REMAINDER              0           0           2               0           0           1.328       0.00     2.13
 TOTAL                  0           0          37               0           0          26.787       0.00     2.13

 CUMULATIVE             0           0         124    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         161        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         4,675            0         4,675           0         202         4,473
 2003                0           0         4,498            0         4,498           0         195         4,303
 2004                0           0         4,327            0         4,327           0         188         4,139
 2005                0           0         4,163            0         4,163           0         180         3,983
 2006                0           0         4,004            0         4,004           0         173         3,831
 2007                0           0         3,852            0         3,852           0         167         3,685
 2008                0           0         3,706            0         3,706           0         160         3,546
 2009                0           0         3,565            0         3,565           0         155         3,410
 2010                0           0         3,429            0         3,429           0         148         3,281
 2011                0           0         3,299            0         3,299           0         143         3,156
 2012                0           0         3,174            0         3,174           0         138         3,036
 2013                0           0         3,053            0         3,053           0         132         2,921
 2014                0           0         2,938            0         2,938           0         127         2,811
 2015                0           0         2,825            0         2,825           0         122         2,703
 2016                0           0         2,718            0         2,718           0         118         2,600

 SUB-TOT             0           0        54,226            0        54,226           0       2,348        51,878
 REMAIN              0           0         2,829            0         2,829           0         122         2,707
 TOTAL               0           0        57,055            0        57,055           0       2,470        54,585






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,448           0           0           0         2,448          2,025         2,025         1,929
 2003          2,448           0           0           0         2,448          1,855         3,880         1,599
 2004          2,448           0           0           0         2,448          1,691         5,571         1,320
 2005          2,448           0           0           0         2,448          1,535         7,106         1,085
 2006          2,448           0           0           0         2,448          1,383         8,489           884
 2007          2,448           0           0           0         2,448          1,237         9,726           717
 2008          2,448           0           0           0         2,448          1,098        10,824           575
 2009          2,448           0           0           0         2,448            962        11,786           457
 2010          2,448           0           0           0         2,448            833        12,619           358
 2011          2,448           0           0           0         2,448            708        13,327           275
 2012          2,448           0           0           0         2,448            588        13,915           207
 2013          2,448           0           0           0         2,448            473        14,388           151
 2014          2,448           0           0           0         2,448            363        14,751           105
 2015          2,448           0           0           0         2,448            255        15,006            67
 2016          2,448           0           0           0         2,448            152        15,158            36

 SUBTOT       36,720           0           0           0        36,720         15,158                       9,765
 REMAIN        2,652           0           0           0         2,652             55        15,213            12
 TOTAL        39,372           0           0           0        39,372         15,213                       9,777

   LIFE OF EVALUATION IS 16.08 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO







                                 TENGASCO, INC.                        TABLE 123
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T16S-R17W                                            PROVED
     LIPPERT #2   (KSSC-LNSG)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0       2,213
 ULTIMATE               0           0       2,213





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 124
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T16S-R17W                                            PROVED
     LIPPERT #3   (COTTONWOOD)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -         6,108
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -         5,598
 REMARKS -                                                                                 15.00% -         5,154
                                                                                           20.00% -         4,765
                                                                                           25.00% -         4,423





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           7               0           0           5.671       0.00     2.13
 2003     1             0           0           7               0           0           5.450       0.00     2.13
 2004     1             0           0           6               0           0           5.237       0.00     2.13
 2005     1             0           0           7               0           0           5.033       0.00     2.13
 2006     1             0           0           6               0           0           4.837       0.00     2.13
 2007     1             0           0           4               0           0           3.503       0.00     2.13
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          37               0           0          29.731       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          37               0           0          29.731       0.00     2.13

 CUMULATIVE             0           0         175    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         212        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        12,079            0        12,079           0         523        11,556
 2003                0           0        11,608            0        11,608           0         503        11,105
 2004                0           0        11,155            0        11,155           0         483        10,672
 2005                0           0        10,720            0        10,720           0         464        10,256
 2006                0           0        10,302            0        10,302           0         446         9,856
 2007                0           0         7,462            0         7,462           0         323         7,139
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        63,326            0        63,326           0       2,742        60,584
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        63,326            0        63,326           0       2,742        60,584






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          9,372           0           0           0         9,372          2,184         2,184         2,082
 2003          9,372           0           0           0         9,372          1,733         3,917         1,497
 2004          9,372           0           0           0         9,372          1,300         5,217         1,016
 2005          9,372           0           0           0         9,372            884         6,101           627
 2006          9,372           0           0           0         9,372            484         6,585           311
 2007          7,029           0           0           0         7,029            110         6,695            65
 2008              0           0           0           0             0              0         6,695             0
 2009              0           0           0           0             0              0         6,695             0
 2010              0           0           0           0             0              0         6,695             0
 2011              0           0           0           0             0              0         6,695             0
 2012              0           0           0           0             0              0         6,695             0
 2013              0           0           0           0             0              0         6,695             0
 2014              0           0           0           0             0              0         6,695             0
 2015              0           0           0           0             0              0         6,695             0
 2016              0           0           0           0             0              0         6,695             0

 SUBTOT       53,889           0           0           0        53,889          6,695                       5,598
 REMAIN            0           0           0           0             0              0         6,695             0
 TOTAL        53,889           0           0           0        53,889          6,695                       5,598

   LIFE OF EVALUATION IS 5.75 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO







                                 TENGASCO, INC.                        TABLE 125
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T16S-R17W                                            PROVED
     LIPPERT #3 BP   (WINFIELD)                                                        BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        85,971
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        73,266
 REMARKS - OPERATING COSTS ARE CARRIED BY PRODUCING RESERVES.                              15.00% -        62,877
                                                                                           20.00% -        54,317
                                                                                           25.00% -        47,212




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0          20               0           0          16.097       0.00     2.13
 2004                   0           0          12               0           0          10.050       0.00     2.13
 2005                   0           0          11               0           0           8.216       0.00     2.13
 2006                   0           0           8               0           0           7.044       0.00     2.13
 2007                   0           0           8               0           0           6.040       0.00     2.13
 2008                   0           0           6               0           0           4.878       0.00     2.13
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          65               0           0          52.325       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          65               0           0          52.325       0.00     2.13

 CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          65        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        34,286            0        34,286           0       1,485        32,801
 2004                0           0        21,406            0        21,406           0         926        20,480
 2005                0           0        17,501            0        17,501           0         758        16,743
 2006                0           0        15,005            0        15,005           0         650        14,355
 2007                0           0        12,864            0        12,864           0         557        12,307
 2008                0           0        10,390            0        10,390           0         450         9,940
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       111,452            0       111,452           0       4,826       106,626
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       111,452            0       111,452           0       4,826       106,626





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0       5,000           0         5,000         27,801        27,801        23,872
 2004              0           0           0           0             0         20,480        48,281        16,018
 2005              0           0           0           0             0         16,743        65,024        11,835
 2006              0           0           0           0             0         14,355        79,379         9,186
 2007              0           0           0           0             0         12,307        91,686         7,129
 2008              0           0           0           0             0          9,940       101,626         5,226
 2009              0           0           0           0             0              0       101,626             0
 2010              0           0           0           0             0              0       101,626             0
 2011              0           0           0           0             0              0       101,626             0
 2012              0           0           0           0             0              0       101,626             0
 2013              0           0           0           0             0              0       101,626             0
 2014              0           0           0           0             0              0       101,626             0
 2015              0           0           0           0             0              0       101,626             0
 2016              0           0           0           0             0              0       101,626             0

 SUBTOT            0           0       5,000           0         5,000        101,626                      73,266
 REMAIN            0           0           0           0             0              0       101,626             0
 TOTAL             0           0       5,000           0         5,000        101,626                      73,266

   LIFE OF EVALUATION IS 6.94 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO








                                 TENGASCO, INC.                        TABLE 126
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   29-T16S-R17W                                            PROVED
     LIPPERT -B- #1   (PENNSYLVANIAN)                                                  PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 127
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   29-T16S-R17W                                            PROVED
     LIPPERT -B- #2                                                                    PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          13    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          13        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 128
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   32-T16S-R17W                                            PROVED
     LIPPERT -C- #1   (TOPEKA)                                                         PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.765625                             2.13        5.00% -        13,613
 FINAL   -   1.000000                      0.765625                             2.13       10.00% -        11,165
 REMARKS -                                                                                 15.00% -         9,388
                                                                                           20.00% -         8,060
                                                                                           25.00% -         7,041




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           3               0           0           1.925       0.00     2.13
 2003     1             0           0           2               0           0           1.810       0.00     2.13
 2004     1             0           0           3               0           0           1.701       0.00     2.13
 2005     1             0           0           2               0           0           1.599       0.00     2.13
 2006     1             0           0           2               0           0           1.503       0.00     2.13
 2007     1             0           0           2               0           0           1.413       0.00     2.13
 2008     1             0           0           2               0           0           1.328       0.00     2.13
 2009     1             0           0           2               0           0           1.249       0.00     2.13
 2010     1             0           0           1               0           0           1.174       0.00     2.13
 2011     1             0           0           2               0           0           1.103       0.00     2.13
 2012     1             0           0           1               0           0           1.037       0.00     2.13
 2013     1             0           0           2               0           0           0.975       0.00     2.13
 2014     1             0           0           1               0           0           0.916       0.00     2.13
 2015     1             0           0           1               0           0           0.861       0.00     2.13
 2016     1             0           0           2               0           0           0.810       0.00     2.13

 SUB-TOTAL              0           0          28               0           0          19.404       0.00     2.13
 REMAINDER              0           0           1               0           0           0.761       0.00     2.13
 TOTAL                  0           0          29               0           0          20.165       0.00     2.13

 CUMULATIVE             0           0         198    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         227        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         4,101            0         4,101           0         178         3,923
 2003                0           0         3,855            0         3,855           0         166         3,689
 2004                0           0         3,623            0         3,623           0         157         3,466
 2005                0           0         3,407            0         3,407           0         148         3,259
 2006                0           0         3,201            0         3,201           0         139         3,062
 2007                0           0         3,010            0         3,010           0         130         2,880
 2008                0           0         2,829            0         2,829           0         122         2,707
 2009                0           0         2,659            0         2,659           0         115         2,544
 2010                0           0         2,500            0         2,500           0         109         2,391
 2011                0           0         2,350            0         2,350           0         101         2,249
 2012                0           0         2,209            0         2,209           0          96         2,113
 2013                0           0         2,076            0         2,076           0          90         1,986
 2014                0           0         1,952            0         1,952           0          85         1,867
 2015                0           0         1,834            0         1,834           0          79         1,755
 2016                0           0         1,725            0         1,725           0          75         1,650

 SUB-TOT             0           0        41,331            0        41,331           0       1,790        39,541
 REMAIN              0           0         1,621            0         1,621           0          70         1,551
 TOTAL               0           0        42,952            0        42,952           0       1,860        41,092






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,500           0           0           0         1,500          2,423         2,423         2,308
 2003          1,500           0           0           0         1,500          2,189         4,612         1,888
 2004          1,500           0           0           0         1,500          1,966         6,578         1,535
 2005          1,500           0           0           0         1,500          1,759         8,337         1,243
 2006          1,500           0           0           0         1,500          1,562         9,899           999
 2007          1,500           0           0           0         1,500          1,380        11,279           799
 2008          1,500           0           0           0         1,500          1,207        12,486           633
 2009          1,500           0           0           0         1,500          1,044        13,530           495
 2010          1,500           0           0           0         1,500            891        14,421           383
 2011          1,500           0           0           0         1,500            749        15,170           292
 2012          1,500           0           0           0         1,500            613        15,783           215
 2013          1,500           0           0           0         1,500            486        16,269           155
 2014          1,500           0           0           0         1,500            367        16,636           106
 2015          1,500           0           0           0         1,500            255        16,891            67
 2016          1,500           0           0           0         1,500            150        17,041            36

 SUBTOT       22,500           0           0           0        22,500         17,041                      11,154
 REMAIN        1,500           0           0           0         1,500             51        17,092            11
 TOTAL        24,000           0           0           0        24,000         17,092                      11,165

   LIFE OF EVALUATION IS 16.00 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO








                                 TENGASCO, INC.                        TABLE 129
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   3-T17S-R17W                                             PROVED
     MCGILL #1   (SHAWNEE)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         436
 ULTIMATE               0           0         436




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 130
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   34-T16S-R17W                                            PROVED
     O'DELL #1   (SHAWNEE)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0         116    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         116        SHRINKAGE FACTOR =   8.00 %




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0





                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 131
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   28-T16S-R16W                                            PROVED
     OCHS -A- #1   (SHAWNEE)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        49,245
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        35,028
 REMARKS -                                                                                 15.00% -        26,886
                                                                                           20.00% -        21,733
                                                                                           25.00% -        18,217




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           3.945       0.00     2.13
 2003     1             0           0           5               0           0           3.822       0.00     2.13
 2004     1             0           0           4               0           0           3.704       0.00     2.13
 2005     1             0           0           5               0           0           3.589       0.00     2.13
 2006     1             0           0           4               0           0           3.478       0.00     2.13
 2007     1             0           0           4               0           0           3.370       0.00     2.13
 2008     1             0           0           4               0           0           3.265       0.00     2.13
 2009     1             0           0           4               0           0           3.164       0.00     2.13
 2010     1             0           0           4               0           0           3.066       0.00     2.13
 2011     1             0           0           4               0           0           2.971       0.00     2.13
 2012     1             0           0           3               0           0           2.879       0.00     2.13
 2013     1             0           0           4               0           0           2.790       0.00     2.13
 2014     1             0           0           3               0           0           2.703       0.00     2.13
 2015     1             0           0           3               0           0           2.619       0.00     2.13
 2016     1             0           0           4               0           0           2.538       0.00     2.13

 SUB-TOTAL              0           0          60               0           0          47.903       0.00     2.13
 REMAINDER              0           0          45               0           0          36.742       0.00     2.13
 TOTAL                  0           0         105               0           0          84.645       0.00     2.13

 CUMULATIVE             0           0         223    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         328        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         8,402            0         8,402           0         364         8,038
 2003                0           0         8,141            0         8,141           0         352         7,789
 2004                0           0         7,889            0         7,889           0         342         7,547
 2005                0           0         7,645            0         7,645           0         331         7,314
 2006                0           0         7,407            0         7,407           0         321         7,086
 2007                0           0         7,178            0         7,178           0         310         6,868
 2008                0           0         6,955            0         6,955           0         302         6,653
 2009                0           0         6,740            0         6,740           0         291         6,449
 2010                0           0         6,531            0         6,531           0         283         6,248
 2011                0           0         6,328            0         6,328           0         274         6,054
 2012                0           0         6,132            0         6,132           0         266         5,866
 2013                0           0         5,942            0         5,942           0         257         5,685
 2014                0           0         5,758            0         5,758           0         249         5,509
 2015                0           0         5,580            0         5,580           0         242         5,338
 2016                0           0         5,406            0         5,406           0         234         5,172

 SUB-TOT             0           0       102,034            0       102,034           0       4,418        97,616
 REMAIN              0           0        78,261            0        78,261           0       3,389        74,872
 TOTAL               0           0       180,295            0       180,295           0       7,807       172,488






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,736           0           0           0         2,736          5,302         5,302         5,049
 2003          2,736           0           0           0         2,736          5,053        10,355         4,355
 2004          2,736           0           0           0         2,736          4,811        15,166         3,754
 2005          2,736           0           0           0         2,736          4,578        19,744         3,233
 2006          2,736           0           0           0         2,736          4,350        24,094         2,781
 2007          2,736           0           0           0         2,736          4,132        28,226         2,392
 2008          2,736           0           0           0         2,736          3,917        32,143         2,052
 2009          2,736           0           0           0         2,736          3,713        35,856         1,761
 2010          2,736           0           0           0         2,736          3,512        39,368         1,507
 2011          2,736           0           0           0         2,736          3,318        42,686         1,290
 2012          2,736           0           0           0         2,736          3,130        45,816         1,101
 2013          2,736           0           0           0         2,736          2,949        48,765           939
 2014          2,736           0           0           0         2,736          2,773        51,538           799
 2015          2,736           0           0           0         2,736          2,602        54,140           679
 2016          2,736           0           0           0         2,736          2,436        56,576           576

 SUBTOT       41,040           0           0           0        41,040         56,576                      32,268
 REMAIN       54,036           0           0           0        54,036         20,836        77,412         2,760
 TOTAL        95,076           0           0           0        95,076         77,412                      35,028

   LIFE OF EVALUATION IS 34.75 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO








                                 TENGASCO, INC.                        TABLE 132
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   28-T16S-R16W                                            PROVED
     OCHS #3   (SHAWNEE)                                                               PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           5    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0           5        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 133
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   8-T16S-R17W                                             PROVED
     PFEIFER -B- #1   (WABAUNSEE)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          16
 ULTIMATE               0           0          16





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 134
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   10-T17S-R17W                                            PROVED
     RAU #1   (TOPEKA)                                                                 PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        42,662
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        35,464
 REMARKS -                                                                                 15.00% -        30,105
                                                                                           20.00% -        26,019
                                                                                           25.00% -        22,835





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          11               0           0           8.377       0.00     2.13
 2003     1             0           0          11               0           0           8.000       0.00     2.13
 2004     1             0           0          10               0           0           7.640       0.00     2.13
 2005     1             0           0           9               0           0           7.297       0.00     2.13
 2006     1             0           0          10               0           0           6.968       0.00     2.13
 2007     1             0           0           9               0           0           6.655       0.00     2.13
 2008     1             0           0           8               0           0           6.355       0.00     2.13
 2009     1             0           0           8               0           0           6.069       0.00     2.13
 2010     1             0           0           8               0           0           5.796       0.00     2.13
 2011     1             0           0           7               0           0           5.535       0.00     2.13
 2012     1             0           0           7               0           0           5.286       0.00     2.13
 2013     1             0           0           7               0           0           5.048       0.00     2.13
 2014     1             0           0           6               0           0           4.821       0.00     2.13
 2015     1             0           0           6               0           0           4.604       0.00     2.13
 2016     1             0           0           1               0           0           0.374       0.00     2.13

 SUB-TOTAL              0           0         118               0           0          88.825       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         118               0           0          88.825       0.00     2.13

 CUMULATIVE             0           0       2,355    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0       2,473        SHRINKAGE FACTOR =   8.00 %






                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        17,844            0        17,844           0         773        17,071
 2003                0           0        17,041            0        17,041           0         738        16,303
 2004                0           0        16,274            0        16,274           0         704        15,570
 2005                0           0        15,542            0        15,542           0         673        14,869
 2006                0           0        14,842            0        14,842           0         643        14,199
 2007                0           0        14,174            0        14,174           0         614        13,560
 2008                0           0        13,537            0        13,537           0         586        12,951
 2009                0           0        12,927            0        12,927           0         559        12,368
 2010                0           0        12,346            0        12,346           0         535        11,811
 2011                0           0        11,790            0        11,790           0         511        11,279
 2012                0           0        11,260            0        11,260           0         487        10,773
 2013                0           0        10,753            0        10,753           0         466        10,287
 2014                0           0        10,269            0        10,269           0         444         9,825
 2015                0           0         9,807            0         9,807           0         425         9,382
 2016                0           0           797            0           797           0          34           763

 SUB-TOT             0           0       189,203            0       189,203           0       8,192       181,011
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       189,203            0       189,203           0       8,192       181,011






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          9,120           0           0           0         9,120          7,951         7,951         7,574
 2003          9,120           0           0           0         9,120          7,183        15,134         6,194
 2004          9,120           0           0           0         9,120          6,450        21,584         5,035
 2005          9,120           0           0           0         9,120          5,749        27,333         4,063
 2006          9,120           0           0           0         9,120          5,079        32,412         3,249
 2007          9,120           0           0           0         9,120          4,440        36,852         2,572
 2008          9,120           0           0           0         9,120          3,831        40,683         2,009
 2009          9,120           0           0           0         9,120          3,248        43,931         1,542
 2010          9,120           0           0           0         9,120          2,691        46,622         1,156
 2011          9,120           0           0           0         9,120          2,159        48,781           841
 2012          9,120           0           0           0         9,120          1,653        50,434           582
 2013          9,120           0           0           0         9,120          1,167        51,601           373
 2014          9,120           0           0           0         9,120            705        52,306           204
 2015          9,120           0           0           0         9,120            262        52,568            69
 2016            760           0           0           0           760              3        52,571             1

 SUBTOT      128,440           0           0           0       128,440         52,571                      35,464
 REMAIN            0           0           0           0             0              0        52,571             0
 TOTAL       128,440           0           0           0       128,440         52,571                      35,464

   LIFE OF EVALUATION IS 14.08 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO







                                 TENGASCO, INC.                        TABLE 135
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   23-T17S-R17W                                            PROVED
     REICHEL #1   (KANSAS CITY)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        24,622
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        23,133
 REMARKS -                                                                                 15.00% -        21,786
                                                                                           20.00% -        20,565
                                                                                           25.00% -        19,456





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          17               0           0          13.565       0.00     2.13
 2003     1             0           0          14               0           0          11.666       0.00     2.13
 2004     1             0           0          13               0           0          10.033       0.00     2.13
 2005     1             0           0          11               0           0           8.628       0.00     2.13
 2006     1             0           0           1               0           0           1.316       0.00     2.13
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          56               0           0          45.208       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          56               0           0          45.208       0.00     2.13

 CUMULATIVE             0           0         275    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         331        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        28,893            0        28,893           0       1,251        27,642
 2003                0           0        24,849            0        24,849           0       1,076        23,773
 2004                0           0        21,369            0        21,369           0         925        20,444
 2005                0           0        18,378            0        18,378           0         796        17,582
 2006                0           0         2,803            0         2,803           0         121         2,682
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        96,292            0        96,292           0       4,169        92,123
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        96,292            0        96,292           0       4,169        92,123






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,804           0           0           0        15,804         11,838        11,838        11,300
 2003         15,804           0           0           0        15,804          7,969        19,807         6,892
 2004         15,804           0           0           0        15,804          4,640        24,447         3,638
 2005         15,804           0           0           0        15,804          1,778        26,225         1,271
 2006          2,634           0           0           0         2,634             48        26,273            32
 2007              0           0           0           0             0              0        26,273             0
 2008              0           0           0           0             0              0        26,273             0
 2009              0           0           0           0             0              0        26,273             0
 2010              0           0           0           0             0              0        26,273             0
 2011              0           0           0           0             0              0        26,273             0
 2012              0           0           0           0             0              0        26,273             0
 2013              0           0           0           0             0              0        26,273             0
 2014              0           0           0           0             0              0        26,273             0
 2015              0           0           0           0             0              0        26,273             0
 2016              0           0           0           0             0              0        26,273             0

 SUBTOT       65,850           0           0           0        65,850         26,273                      23,133
 REMAIN            0           0           0           0             0              0        26,273             0
 TOTAL        65,850           0           0           0        65,850         26,273                      23,133

   LIFE OF EVALUATION IS 4.17 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO







                                 TENGASCO, INC.                        TABLE 136
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   31-T17S-R16W                                            PROVED
     ROTHE #1-31   (TOPEKA)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        17,872
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        16,883
 REMARKS -                                                                                 15.00% -        15,980
                                                                                           20.00% -        15,155
                                                                                           25.00% -        14,399





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          15               0           0          11.775       0.00     2.13
 2003     1             0           0          12               0           0          10.162       0.00     2.13
 2004     1             0           0          11               0           0           8.770       0.00     2.13
 2005     1             0           0           7               0           0           5.780       0.00     2.13
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          45               0           0          36.487       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          45               0           0          36.487       0.00     2.13

 CUMULATIVE             0           0         844    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         889        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        25,082            0        25,082           0       1,086        23,996
 2003                0           0        21,645            0        21,645           0         937        20,708
 2004                0           0        18,680            0        18,680           0         809        17,871
 2005                0           0        12,311            0        12,311           0         533        11,778
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        77,718            0        77,718           0       3,365        74,353
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        77,718            0        77,718           0       3,365        74,353






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         14,772           0           0           0        14,772          9,224         9,224         8,807
 2003         14,772           0           0           0        14,772          5,936        15,160         5,136
 2004         14,772           0           0           0        14,772          3,099        18,259         2,434
 2005         11,079           0           0           0        11,079            699        18,958           506
 2006              0           0           0           0             0              0        18,958             0
 2007              0           0           0           0             0              0        18,958             0
 2008              0           0           0           0             0              0        18,958             0
 2009              0           0           0           0             0              0        18,958             0
 2010              0           0           0           0             0              0        18,958             0
 2011              0           0           0           0             0              0        18,958             0
 2012              0           0           0           0             0              0        18,958             0
 2013              0           0           0           0             0              0        18,958             0
 2014              0           0           0           0             0              0        18,958             0
 2015              0           0           0           0             0              0        18,958             0
 2016              0           0           0           0             0              0        18,958             0

 SUBTOT       55,395           0           0           0        55,395         18,958                      16,883
 REMAIN            0           0           0           0             0              0        18,958             0
 TOTAL        55,395           0           0           0        55,395         18,958                      16,883

   LIFE OF EVALUATION IS 3.75 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO





                                 TENGASCO, INC.                        TABLE 137
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   20-T17S-R16W                                            PROVED
     ROTHE, R. #1   (KANSAS CITY)                                                      PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        36,311
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        30,132
 REMARKS -                                                                                 15.00% -        25,567
                                                                                           20.00% -        22,105
                                                                                           25.00% -        19,417





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           7               0           0           5.081       0.00     2.13
 2003     1             0           0           6               0           0           4.715       0.00     2.13
 2004     1             0           0           6               0           0           4.376       0.00     2.13
 2005     1             0           0           5               0           0           4.061       0.00     2.13
 2006     1             0           0           5               0           0           3.768       0.00     2.13
 2007     1             0           0           5               0           0           3.497       0.00     2.13
 2008     1             0           0           4               0           0           3.245       0.00     2.13
 2009     1             0           0           4               0           0           3.012       0.00     2.13
 2010     1             0           0           4               0           0           2.795       0.00     2.13
 2011     1             0           0           3               0           0           2.594       0.00     2.13
 2012     1             0           0           3               0           0           2.407       0.00     2.13
 2013     1             0           0           3               0           0           2.234       0.00     2.13
 2014     1             0           0           3               0           0           2.073       0.00     2.13
 2015     1             0           0           3               0           0           1.924       0.00     2.13
 2016     1             0           0           2               0           0           1.785       0.00     2.13

 SUB-TOTAL              0           0          63               0           0          47.567       0.00     2.13
 REMAINDER              0           0           0               0           0           0.285       0.00     2.13
 TOTAL                  0           0          63               0           0          47.852       0.00     2.13

 CUMULATIVE             0           0         467    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         530        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        10,823            0        10,823           0         469        10,354
 2003                0           0        10,044            0        10,044           0         435         9,609
 2004                0           0         9,321            0         9,321           0         403         8,918
 2005                0           0         8,649            0         8,649           0         375         8,274
 2006                0           0         8,027            0         8,027           0         347         7,680
 2007                0           0         7,449            0         7,449           0         323         7,126
 2008                0           0         6,912            0         6,912           0         299         6,613
 2009                0           0         6,415            0         6,415           0         278         6,137
 2010                0           0         5,953            0         5,953           0         258         5,695
 2011                0           0         5,524            0         5,524           0         239         5,285
 2012                0           0         5,127            0         5,127           0         222         4,905
 2013                0           0         4,758            0         4,758           0         206         4,552
 2014                0           0         4,414            0         4,414           0         191         4,223
 2015                0           0         4,098            0         4,098           0         177         3,921
 2016                0           0         3,802            0         3,802           0         165         3,637

 SUB-TOT             0           0       101,316            0       101,316           0       4,387        96,929
 REMAIN              0           0           606            0           606           0          26           580
 TOTAL               0           0       101,922            0       101,922           0       4,413        97,509






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,468           0           0           0         3,468          6,886         6,886         6,560
 2003          3,468           0           0           0         3,468          6,141        13,027         5,297
 2004          3,468           0           0           0         3,468          5,450        18,477         4,254
 2005          3,468           0           0           0         3,468          4,806        23,283         3,397
 2006          3,468           0           0           0         3,468          4,212        27,495         2,695
 2007          3,468           0           0           0         3,468          3,658        31,153         2,119
 2008          3,468           0           0           0         3,468          3,145        34,298         1,649
 2009          3,468           0           0           0         3,468          2,669        36,967         1,267
 2010          3,468           0           0           0         3,468          2,227        39,194           957
 2011          3,468           0           0           0         3,468          1,817        41,011           707
 2012          3,468           0           0           0         3,468          1,437        42,448           506
 2013          3,468           0           0           0         3,468          1,084        43,532           346
 2014          3,468           0           0           0         3,468            755        44,287           218
 2015          3,468           0           0           0         3,468            453        44,740           119
 2016          3,468           0           0           0         3,468            169        44,909            40

 SUBTOT       52,020           0           0           0        52,020         44,909                      30,131
 REMAIN          578           0           0           0           578              2        44,911             1
 TOTAL        52,598           0           0           0        52,598         44,911                      30,132

   LIFE OF EVALUATION IS 15.17 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO







                                 TENGASCO, INC.                        TABLE 138
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   4-T17S-R17W                                             PROVED
     SCHEUERMAN -A- #1   (GRWS-SHWN)                                                   PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        41,809
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        29,203
 REMARKS -                                                                                 15.00% -        22,207
                                                                                           20.00% -        17,858
                                                                                           25.00% -        14,920





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.079       0.00     2.13
 2003     1             0           0           4               0           0           2.986       0.00     2.13
 2004     1             0           0           3               0           0           2.897       0.00     2.13
 2005     1             0           0           4               0           0           2.810       0.00     2.13
 2006     1             0           0           3               0           0           2.726       0.00     2.13
 2007     1             0           0           3               0           0           2.644       0.00     2.13
 2008     1             0           0           3               0           0           2.565       0.00     2.13
 2009     1             0           0           4               0           0           2.488       0.00     2.13
 2010     1             0           0           3               0           0           2.413       0.00     2.13
 2011     1             0           0           2               0           0           2.341       0.00     2.13
 2012     1             0           0           3               0           0           2.270       0.00     2.13
 2013     1             0           0           3               0           0           2.202       0.00     2.13
 2014     1             0           0           3               0           0           2.136       0.00     2.13
 2015     1             0           0           2               0           0           2.072       0.00     2.13
 2016     1             0           0           3               0           0           2.010       0.00     2.13

 SUB-TOTAL              0           0          47               0           0          37.639       0.00     2.13
 REMAINDER              0           0          41               0           0          33.061       0.00     2.13
 TOTAL                  0           0          88               0           0          70.700       0.00     2.13

 CUMULATIVE             0           0         432    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         520        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,558            0         6,558           0         284         6,274
 2003                0           0         6,361            0         6,361           0         275         6,086
 2004                0           0         6,171            0         6,171           0         268         5,903
 2005                0           0         5,985            0         5,985           0         259         5,726
 2006                0           0         5,805            0         5,805           0         251         5,554
 2007                0           0         5,632            0         5,632           0         244         5,388
 2008                0           0         5,463            0         5,463           0         237         5,226
 2009                0           0         5,298            0         5,298           0         229         5,069
 2010                0           0         5,140            0         5,140           0         222         4,918
 2011                0           0         4,986            0         4,986           0         216         4,770
 2012                0           0         4,836            0         4,836           0         210         4,626
 2013                0           0         4,691            0         4,691           0         203         4,488
 2014                0           0         4,550            0         4,550           0         197         4,353
 2015                0           0         4,413            0         4,413           0         191         4,222
 2016                0           0         4,282            0         4,282           0         185         4,097

 SUB-TOT             0           0        80,171            0        80,171           0       3,471        76,700
 REMAIN              0           0        70,419            0        70,419           0       3,050        67,369
 TOTAL               0           0       150,590            0       150,590           0       6,521       144,069






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,980           0           0           0         1,980          4,294         4,294         4,089
 2003          1,980           0           0           0         1,980          4,106         8,400         3,539
 2004          1,980           0           0           0         1,980          3,923        12,323         3,060
 2005          1,980           0           0           0         1,980          3,746        16,069         2,646
 2006          1,980           0           0           0         1,980          3,574        19,643         2,285
 2007          1,980           0           0           0         1,980          3,408        23,051         1,972
 2008          1,980           0           0           0         1,980          3,246        26,297         1,701
 2009          1,980           0           0           0         1,980          3,089        29,386         1,465
 2010          1,980           0           0           0         1,980          2,938        32,324         1,261
 2011          1,980           0           0           0         1,980          2,790        35,114         1,084
 2012          1,980           0           0           0         1,980          2,646        37,760           931
 2013          1,980           0           0           0         1,980          2,508        40,268           799
 2014          1,980           0           0           0         1,980          2,373        42,641           684
 2015          1,980           0           0           0         1,980          2,242        44,883           585
 2016          1,980           0           0           0         1,980          2,117        47,000           500

 SUBTOT       29,700           0           0           0        29,700         47,000                      26,601
 REMAIN       46,200           0           0           0        46,200         21,169        68,169         2,602
 TOTAL        75,900           0           0           0        75,900         68,169                      29,203

   LIFE OF EVALUATION IS 38.33 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO







                                 TENGASCO, INC.                        TABLE 139
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   18-T16S-R17W                                            PROVED
     SCHLITTER #2   (PENNSYLVANIAN)                                                    PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.861328                             2.13        5.00% -           708
 FINAL   -   1.000000                      0.861328                             2.13       10.00% -           666
 REMARKS -                                                                                 15.00% -           627
                                                                                           20.00% -           593
                                                                                           25.00% -           561





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           2               0           0           1.415       0.00     2.13
 2003     1             0           0           2               0           0           1.365       0.00     2.13
 2004     1             0           0           1               0           0           1.315       0.00     2.13
 2005     1             0           0           2               0           0           1.164       0.00     2.13
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           7               0           0           5.259       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           7               0           0           5.259       0.00     2.13

 CUMULATIVE             0           0         177    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         184        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         3,015            0         3,015           0         131         2,884
 2003                0           0         2,906            0         2,906           0         125         2,781
 2004                0           0         2,802            0         2,802           0         122         2,680
 2005                0           0         2,480            0         2,480           0         107         2,373
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        11,203            0        11,203           0         485        10,718
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        11,203            0        11,203           0         485        10,718



                                       14




                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          2,544           0           0           0         2,544            340           340           324
 2003          2,544           0           0           0         2,544            237           577           205
 2004          2,544           0           0           0         2,544            136           713           107
 2005          2,332           0           0           0         2,332             41           754            30
 2006              0           0           0           0             0              0           754             0
 2007              0           0           0           0             0              0           754             0
 2008              0           0           0           0             0              0           754             0
 2009              0           0           0           0             0              0           754             0
 2010              0           0           0           0             0              0           754             0
 2011              0           0           0           0             0              0           754             0
 2012              0           0           0           0             0              0           754             0
 2013              0           0           0           0             0              0           754             0
 2014              0           0           0           0             0              0           754             0
 2015              0           0           0           0             0              0           754             0
 2016              0           0           0           0             0              0           754             0

 SUBTOT        9,964           0           0           0         9,964            754                         666
 REMAIN            0           0           0           0             0              0           754             0
 TOTAL         9,964           0           0           0         9,964            754                         666

   LIFE OF EVALUATION IS 3.92 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO








                                 TENGASCO, INC.                        TABLE 140
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   13-T17S-R17W                                            PROVED
     SCHNEIDER #1   (KANSAS CITY)                                                      PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -        36,511
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -        33,633
 REMARKS -                                                                                 15.00% -        31,111
                                                                                           20.00% -        28,891
                                                                                           25.00% -        26,928





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          18               0           0          13.842       0.00     2.13
 2003     1             0           0          16               0           0          12.126       0.00     2.13
 2004     1             0           0          14               0           0          10.622       0.00     2.13
 2005     1             0           0          13               0           0           9.305       0.00     2.13
 2006     1             0           0          11               0           0           8.151       0.00     2.13
 2007     1             0           0           6               0           0           4.865       0.00     2.13
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          78               0           0          58.911       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          78               0           0          58.911       0.00     2.13

 CUMULATIVE             0           0         412    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         490        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        29,484            0        29,484           0       1,277        28,207
 2003                0           0        25,829            0        25,829           0       1,118        24,711
 2004                0           0        22,625            0        22,625           0         980        21,645
 2005                0           0        19,820            0        19,820           0         858        18,962
 2006                0           0        17,362            0        17,362           0         752        16,610
 2007                0           0        10,362            0        10,362           0         448         9,914
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       125,482            0       125,482           0       5,433       120,049
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       125,482            0       125,482           0       5,433       120,049





                                       15



                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         14,160           0           0           0        14,160         14,047        14,047        13,399
 2003         14,160           0           0           0        14,160         10,551        24,598         9,114
 2004         14,160           0           0           0        14,160          7,485        32,083         5,857
 2005         14,160           0           0           0        14,160          4,802        36,885         3,404
 2006         14,160           0           0           0        14,160          2,450        39,335         1,578
 2007          9,440           0           0           0         9,440            474        39,809           281
 2008              0           0           0           0             0              0        39,809             0
 2009              0           0           0           0             0              0        39,809             0
 2010              0           0           0           0             0              0        39,809             0
 2011              0           0           0           0             0              0        39,809             0
 2012              0           0           0           0             0              0        39,809             0
 2013              0           0           0           0             0              0        39,809             0
 2014              0           0           0           0             0              0        39,809             0
 2015              0           0           0           0             0              0        39,809             0
 2016              0           0           0           0             0              0        39,809             0

 SUBTOT       80,240           0           0           0        80,240         39,809                      33,633
 REMAIN            0           0           0           0             0              0        39,809             0
 TOTAL        80,240           0           0           0        80,240         39,809                      33,633

   LIFE OF EVALUATION IS 5.67 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO














                                 TENGASCO, INC.                        TABLE 141
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   25-T16S-R17W                                            PROVED
     SHERWOOD #1   (SHAWNEE)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.792969                             2.13        5.00% -        31,449
 FINAL   -   1.000000                      0.792969                             2.13       10.00% -        22,675
 REMARKS -                                                                                 15.00% -        17,519
                                                                                           20.00% -        14,210
                                                                                           25.00% -        11,932





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           2.937       0.00     2.13
 2003     1             0           0           4               0           0           2.855       0.00     2.13
 2004     1             0           0           4               0           0           2.776       0.00     2.13
 2005     1             0           0           3               0           0           2.699       0.00     2.13
 2006     1             0           0           4               0           0           2.624       0.00     2.13
 2007     1             0           0           4               0           0           2.551       0.00     2.13
 2008     1             0           0           3               0           0           2.480       0.00     2.13
 2009     1             0           0           3               0           0           2.411       0.00     2.13
 2010     1             0           0           3               0           0           2.344       0.00     2.13
 2011     1             0           0           4               0           0           2.279       0.00     2.13
 2012     1             0           0           3               0           0           2.215       0.00     2.13
 2013     1             0           0           3               0           0           2.154       0.00     2.13
 2014     1             0           0           2               0           0           2.094       0.00     2.13
 2015     1             0           0           3               0           0           2.036       0.00     2.13
 2016     1             0           0           3               0           0           1.979       0.00     2.13

 SUB-TOTAL              0           0          50               0           0          36.434       0.00     2.13
 REMAINDER              0           0          35               0           0          25.750       0.00     2.13
 TOTAL                  0           0          85               0           0          62.184       0.00     2.13

 CUMULATIVE             0           0         221    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         306        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,255            0         6,255           0         271         5,984
 2003                0           0         6,081            0         6,081           0         263         5,818
 2004                0           0         5,913            0         5,913           0         256         5,657
 2005                0           0         5,748            0         5,748           0         249         5,499
 2006                0           0         5,588            0         5,588           0         242         5,346
 2007                0           0         5,433            0         5,433           0         235         5,198
 2008                0           0         5,282            0         5,282           0         229         5,053
 2009                0           0         5,135            0         5,135           0         222         4,913
 2010                0           0         4,992            0         4,992           0         217         4,775
 2011                0           0         4,854            0         4,854           0         210         4,644
 2012                0           0         4,719            0         4,719           0         204         4,515
 2013                0           0         4,588            0         4,588           0         199         4,389
 2014                0           0         4,460            0         4,460           0         193         4,267
 2015                0           0         4,336            0         4,336           0         188         4,148
 2016                0           0         4,216            0         4,216           0         182         4,034

 SUB-TOT             0           0        77,600            0        77,600           0       3,360        74,240
 REMAIN              0           0        54,847            0        54,847           0       2,375        52,472
 TOTAL               0           0       132,447            0       132,447           0       5,735       126,712






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,496           0           0           0         2,496          3,488         3,488         3,321
 2003          2,496           0           0           0         2,496          3,322         6,810         2,864
 2004          2,496           0           0           0         2,496          3,161         9,971         2,466
 2005          2,496           0           0           0         2,496          3,003        12,974         2,121
 2006          2,496           0           0           0         2,496          2,850        15,824         1,822
 2007          2,496           0           0           0         2,496          2,702        18,526         1,564
 2008          2,496           0           0           0         2,496          2,557        21,083         1,340
 2009          2,496           0           0           0         2,496          2,417        23,500         1,146
 2010          2,496           0           0           0         2,496          2,279        25,779           978
 2011          2,496           0           0           0         2,496          2,148        27,927           835
 2012          2,496           0           0           0         2,496          2,019        29,946           710
 2013          2,496           0           0           0         2,496          1,893        31,839           603
 2014          2,496           0           0           0         2,496          1,771        33,610           511
 2015          2,496           0           0           0         2,496          1,652        35,262           431
 2016          2,496           0           0           0         2,496          1,538        36,800           363

 SUBTOT       37,440           0           0           0        37,440         36,800                      21,075
 REMAIN       41,184           0           0           0        41,184         11,288        48,088         1,600
 TOTAL        78,624           0           0           0        78,624         48,088                      22,675

   LIFE OF EVALUATION IS 31.50 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO







                                 TENGASCO, INC.                        TABLE 142
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   11-T17S-R17W                                            PROVED
     STEITZ -A- #1   (KANSAS CITY)                                                     PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -           436
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -           430
 REMARKS -                                                                                 15.00% -           424
                                                                                           20.00% -           419
                                                                                           25.00% -           413





               ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.304       0.00     2.13
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           4               0           0           3.304       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           4               0           0           3.304       0.00     2.13

 CUMULATIVE             0           0         293    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         297        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,037            0         7,037           0         305         6,732
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0         7,037            0         7,037           0         305         6,732
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0         7,037            0         7,037           0         305         6,732






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          6,290           0           0           0         6,290            442           442           430
 2003              0           0           0           0             0              0           442             0
 2004              0           0           0           0             0              0           442             0
 2005              0           0           0           0             0              0           442             0
 2006              0           0           0           0             0              0           442             0
 2007              0           0           0           0             0              0           442             0
 2008              0           0           0           0             0              0           442             0
 2009              0           0           0           0             0              0           442             0
 2010              0           0           0           0             0              0           442             0
 2011              0           0           0           0             0              0           442             0
 2012              0           0           0           0             0              0           442             0
 2013              0           0           0           0             0              0           442             0
 2014              0           0           0           0             0              0           442             0
 2015              0           0           0           0             0              0           442             0
 2016              0           0           0           0             0              0           442             0

 SUBTOT        6,290           0           0           0         6,290            442                         430
 REMAIN            0           0           0           0             0              0           442             0
 TOTAL         6,290           0           0           0         6,290            442                         430

   LIFE OF EVALUATION IS 0.83 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO







                            TENGASCO, INC.                             TABLE 143
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   14-T17S-R17W                                            PROVED
     STEITZ -B- #1   (TOPEKA)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.820313                             2.13        5.00% -         6,822
 FINAL   -   1.000000                      0.820313                             2.13       10.00% -         6,170
 REMARKS -                                                                                 15.00% -         5,615
                                                                                           20.00% -         5,138
                                                                                           25.00% -         4,726





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.147       0.00     2.13
 2003     1             0           0           4               0           0           2.949       0.00     2.13
 2004     1             0           0           4               0           0           2.763       0.00     2.13
 2005     1             0           0           3               0           0           2.589       0.00     2.13
 2006     1             0           0           3               0           0           2.426       0.00     2.13
 2007     1             0           0           3               0           0           2.273       0.00     2.13
 2008     1             0           0           3               0           0           1.784       0.00     2.13
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          24               0           0          17.931       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          24               0           0          17.931       0.00     2.13

 CUMULATIVE             0           0         349    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         373        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,703            0         6,703           0         290         6,413
 2003                0           0         6,280            0         6,280           0         272         6,008
 2004                0           0         5,885            0         5,885           0         255         5,630
 2005                0           0         5,514            0         5,514           0         239         5,275
 2006                0           0         5,166            0         5,166           0         223         4,943
 2007                0           0         4,842            0         4,842           0         210         4,632
 2008                0           0         3,800            0         3,800           0         165         3,635
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        38,190            0        38,190           0       1,654        36,536
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        38,190            0        38,190           0       1,654        36,536






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,236           0           0           0         4,236          2,177         2,177         2,075
 2003          4,236           0           0           0         4,236          1,772         3,949         1,530
 2004          4,236           0           0           0         4,236          1,394         5,343         1,089
 2005          4,236           0           0           0         4,236          1,039         6,382           736
 2006          4,236           0           0           0         4,236            707         7,089           454
 2007          4,236           0           0           0         4,236            396         7,485           230
 2008          3,530           0           0           0         3,530            105         7,590            56
 2009              0           0           0           0             0              0         7,590             0
 2010              0           0           0           0             0              0         7,590             0
 2011              0           0           0           0             0              0         7,590             0
 2012              0           0           0           0             0              0         7,590             0
 2013              0           0           0           0             0              0         7,590             0
 2014              0           0           0           0             0              0         7,590             0
 2015              0           0           0           0             0              0         7,590             0
 2016              0           0           0           0             0              0         7,590             0

 SUBTOT       28,946           0           0           0        28,946          7,590                       6,170
 REMAIN            0           0           0           0             0              0         7,590             0
 TOTAL        28,946           0           0           0        28,946          7,590                       6,170

   LIFE OF EVALUATION IS 6.83 YEARS.
   FINAL PRODUCTION RATE: 0.2 MMCF/MO








                                 TENGASCO, INC.                        TABLE 144
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   14-T17S-R17W                                            PROVED
     THIELENHAUS #1   (TOPEKA)                                                         PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        14,465
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        12,782
 REMARKS -                                                                                 15.00% -        11,403
                                                                                           20.00% -        10,261
                                                                                           25.00% -         9,307





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.228       0.00     2.13
 2003     1             0           0           4               0           0           2.905       0.00     2.13
 2004     1             0           0           3               0           0           2.615       0.00     2.13
 2005     1             0           0           3               0           0           2.353       0.00     2.13
 2006     1             0           0           2               0           0           2.118       0.00     2.13
 2007     1             0           0           3               0           0           1.906       0.00     2.13
 2008     1             0           0           2               0           0           1.716       0.00     2.13
 2009     1             0           0           2               0           0           1.544       0.00     2.13
 2010     1             0           0           2               0           0           1.390       0.00     2.13
 2011     1             0           0           0               0           0           0.218       0.00     2.13
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          25               0           0          19.993       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          25               0           0          19.993       0.00     2.13

 CUMULATIVE             0           0       1,566    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0       1,591        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         6,876            0         6,876           0         298         6,578
 2003                0           0         6,189            0         6,189           0         268         5,921
 2004                0           0         5,569            0         5,569           0         241         5,328
 2005                0           0         5,013            0         5,013           0         217         4,796
 2006                0           0         4,511            0         4,511           0         195         4,316
 2007                0           0         4,061            0         4,061           0         176         3,885
 2008                0           0         3,654            0         3,654           0         158         3,496
 2009                0           0         3,289            0         3,289           0         143         3,146
 2010                0           0         2,960            0         2,960           0         128         2,832
 2011                0           0           464            0           464           0          20           444
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        42,586            0        42,586           0       1,844        40,742
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        42,586            0        42,586           0       1,844        40,742






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,640           0           0           0         2,640          3,938         3,938         3,754
 2003          2,640           0           0           0         2,640          3,281         7,219         2,831
 2004          2,640           0           0           0         2,640          2,688         9,907         2,100
 2005          2,640           0           0           0         2,640          2,156        12,063         1,525
 2006          2,640           0           0           0         2,640          1,676        13,739         1,074
 2007          2,640           0           0           0         2,640          1,245        14,984           722
 2008          2,640           0           0           0         2,640            856        15,840           450
 2009          2,640           0           0           0         2,640            506        16,346           241
 2010          2,640           0           0           0         2,640            192        16,538            83
 2011            440           0           0           0           440              4        16,542             2
 2012              0           0           0           0             0              0        16,542             0
 2013              0           0           0           0             0              0        16,542             0
 2014              0           0           0           0             0              0        16,542             0
 2015              0           0           0           0             0              0        16,542             0
 2016              0           0           0           0             0              0        16,542             0

 SUBTOT       24,200           0           0           0        24,200         16,542                      12,782
 REMAIN            0           0           0           0             0              0        16,542             0
 TOTAL        24,200           0           0           0        24,200         16,542                      12,782

   LIFE OF EVALUATION IS 9.17 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO








                                 TENGASCO, INC.                        TABLE 145
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   14-T17S-R17W                                            PROVED
     THIELENHAUS #1 BP   (TOPEKA)                                                      BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -       173,932
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -       138,377
 REMARKS - OPERATING COSTS TO BE CARRIED BY PRODUCING RESERVES.                            15.00% -       112,006
                                                                                           20.00% -        92,057
                                                                                           25.00% -        76,682





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0          29               0           0          22.995       0.00     2.13
 2004                   0           0          20               0           0          16.471       0.00     2.13
 2005                   0           0          18               0           0          14.370       0.00     2.13
 2006                   0           0          15               0           0          12.537       0.00     2.13
 2007                   0           0          14               0           0          10.938       0.00     2.13
 2008                   0           0          12               0           0           9.543       0.00     2.13
 2009                   0           0          10               0           0           8.326       0.00     2.13
 2010                   0           0           9               0           0           7.264       0.00     2.13
 2011                   0           0           8               0           0           6.337       0.00     2.13
 2012                   0           0           7               0           0           5.529       0.00     2.13
 2013                   0           0           3               0           0           2.416       0.00     2.13
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         145               0           0         116.726       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         145               0           0         116.726       0.00     2.13

 CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         145        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0        48,980            0        48,980           0       2,121        46,859
 2004                0           0        35,082            0        35,082           0       1,519        33,563
 2005                0           0        30,608            0        30,608           0       1,325        29,283
 2006                0           0        26,703            0        26,703           0       1,156        25,547
 2007                0           0        23,298            0        23,298           0       1,009        22,289
 2008                0           0        20,326            0        20,326           0         880        19,446
 2009                0           0        17,733            0        17,733           0         768        16,965
 2010                0           0        15,472            0        15,472           0         670        14,802
 2011                0           0        13,498            0        13,498           0         585        12,913
 2012                0           0        11,776            0        11,776           0         510        11,266
 2013                0           0         5,147            0         5,147           0         222         4,925
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       248,623            0       248,623           0      10,765       237,858
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       248,623            0       248,623           0      10,765       237,858






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0      15,000           0        15,000         31,859        31,859        27,021
 2004              0           0           0           0             0         33,563        65,422        26,206
 2005              0           0           0           0             0         29,283        94,705        20,697
 2006              0           0           0           0             0         25,547       120,252        16,345
 2007              0           0           0           0             0         22,289       142,541        12,909
 2008              0           0           0           0             0         19,446       161,987        10,195
 2009              0           0           0           0             0         16,965       178,952         8,051
 2010              0           0           0           0             0         14,802       193,754         6,358
 2011              0           0           0           0             0         12,913       206,667         5,022
 2012              0           0           0           0             0         11,266       217,933         3,965
 2013              0           0           0           0             0          4,925       222,858         1,608
 2014              0           0           0           0             0              0       222,858             0
 2015              0           0           0           0             0              0       222,858             0
 2016              0           0           0           0             0              0       222,858             0

 SUBTOT            0           0      15,000           0        15,000        222,858                     138,377
 REMAIN            0           0           0           0             0              0       222,858             0
 TOTAL             0           0      15,000           0        15,000        222,858                     138,377

   LIFE OF EVALUATION IS 11.48 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO








                                 TENGASCO, INC.                        TABLE 146
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO, INC. - OPERATOR   19-T16S-R17W                                            PROVED
     TORREY #2   (KSSC-LNSG)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.861328                             2.13        5.00% -       162,005
 FINAL   -   1.000000                      0.861328                             2.13       10.00% -       119,939
 REMARKS -                                                                                 15.00% -        94,370
                                                                                           20.00% -        77,526
                                                                                           25.00% -        65,707





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          16               0           0          12.508       0.00     2.13
 2003     1             0           0          15               0           0          11.883       0.00     2.13
 2004     1             0           0          14               0           0          11.288       0.00     2.13
 2005     1             0           0          14               0           0          10.724       0.00     2.13
 2006     1             0           0          12               0           0          10.188       0.00     2.13
 2007     1             0           0          13               0           0           9.678       0.00     2.13
 2008     1             0           0          11               0           0           9.195       0.00     2.13
 2009     1             0           0          11               0           0           8.735       0.00     2.13
 2010     1             0           0          11               0           0           8.298       0.00     2.13
 2011     1             0           0          10               0           0           7.883       0.00     2.13
 2012     1             0           0           9               0           0           7.489       0.00     2.13
 2013     1             0           0           9               0           0           7.115       0.00     2.13
 2014     1             0           0           9               0           0           6.759       0.00     2.13
 2015     1             0           0           8               0           0           6.421       0.00     2.13
 2016     1             0           0           7               0           0           6.100       0.00     2.13

 SUB-TOTAL              0           0         169               0           0         134.264       0.00     2.13
 REMAINDER              0           0          81               0           0          64.229       0.00     2.13
 TOTAL                  0           0         250               0           0         198.493       0.00     2.13

 CUMULATIVE             0           0       2,878    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0       3,128        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        26,642            0        26,642           0       1,154        25,488
 2003                0           0        25,310            0        25,310           0       1,096        24,214
 2004                0           0        24,044            0        24,044           0       1,041        23,003
 2005                0           0        22,843            0        22,843           0         989        21,854
 2006                0           0        21,700            0        21,700           0         939        20,761
 2007                0           0        20,615            0        20,615           0         893        19,722
 2008                0           0        19,584            0        19,584           0         848        18,736
 2009                0           0        18,605            0        18,605           0         806        17,799
 2010                0           0        17,675            0        17,675           0         765        16,910
 2011                0           0        16,791            0        16,791           0         727        16,064
 2012                0           0        15,952            0        15,952           0         691        15,261
 2013                0           0        15,154            0        15,154           0         656        14,498
 2014                0           0        14,396            0        14,396           0         623        13,773
 2015                0           0        13,677            0        13,677           0         592        13,085
 2016                0           0        12,992            0        12,992           0         563        12,429

 SUB-TOT             0           0       285,980            0       285,980           0      12,383       273,597
 REMAIN              0           0       136,809            0       136,809           0       5,924       130,885
 TOTAL               0           0       422,789            0       422,789           0      18,307       404,482






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          5,400           0           0           0         5,400         20,088        20,088        19,130
 2003          5,400           0           0           0         5,400         18,814        38,902        16,219
 2004          5,400           0           0           0         5,400         17,603        56,505        13,737
 2005          5,400           0           0           0         5,400         16,454        72,959        11,623
 2006          5,400           0           0           0         5,400         15,361        88,320         9,823
 2007          5,400           0           0           0         5,400         14,322       102,642         8,290
 2008          5,400           0           0           0         5,400         13,336       115,978         6,987
 2009          5,400           0           0           0         5,400         12,399       128,377         5,882
 2010          5,400           0           0           0         5,400         11,510       139,887         4,942
 2011          5,400           0           0           0         5,400         10,664       150,551         4,144
 2012          5,400           0           0           0         5,400          9,861       160,412         3,470
 2013          5,400           0           0           0         5,400          9,098       169,510         2,898
 2014          5,400           0           0           0         5,400          8,373       177,883         2,414
 2015          5,400           0           0           0         5,400          7,685       185,568         2,005
 2016          5,400           0           0           0         5,400          7,029       192,597         1,661

 SUBTOT       81,000           0           0           0        81,000        192,597                     113,225
 REMAIN       85,050           0           0           0        85,050         45,835       238,432         6,714
 TOTAL       166,050           0           0           0       166,050        238,432                     119,939

   LIFE OF EVALUATION IS 30.75 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO








                                 TENGASCO, INC.                        TABLE 147
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL FIELD, RUSH COUNTY, KANSAS                                                    GAS LEASE
   TENGASCO INC - OPERATOR   20-T16S-R17W                                              PROVED
     URBAN R & A #1   (WABAUNSEE)                                                      PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0          72
 ULTIMATE               0           0          72





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 148
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL EAST FIELD, RUSH COUNTY, KANSAS                                               GAS LEASE
   TENGASCO, INC. - OPERATOR   35-T17S-R18W                                            PROVED
     BAHR #1   (KSSC-LNSG)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.875000                             2.13        5.00% -        48,933
 FINAL   -   1.000000                      0.875000                             2.13       10.00% -        34,052
 REMARKS -                                                                                 15.00% -        25,835
                                                                                           20.00% -        20,745
                                                                                           25.00% -        17,315





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           3.683       0.00     2.13
 2003     1             0           0           4               0           0           3.580       0.00     2.13
 2004     1             0           0           4               0           0           3.480       0.00     2.13
 2005     1             0           0           5               0           0           3.382       0.00     2.13
 2006     1             0           0           4               0           0           3.287       0.00     2.13
 2007     1             0           0           4               0           0           3.195       0.00     2.13
 2008     1             0           0           3               0           0           3.106       0.00     2.13
 2009     1             0           0           4               0           0           3.019       0.00     2.13
 2010     1             0           0           4               0           0           2.934       0.00     2.13
 2011     1             0           0           3               0           0           2.852       0.00     2.13
 2012     1             0           0           4               0           0           2.772       0.00     2.13
 2013     1             0           0           3               0           0           2.695       0.00     2.13
 2014     1             0           0           3               0           0           2.619       0.00     2.13
 2015     1             0           0           4               0           0           2.546       0.00     2.13
 2016     1             0           0           3               0           0           2.475       0.00     2.13

 SUB-TOTAL              0           0          57               0           0          45.625       0.00     2.13
 REMAINDER              0           0          51               0           0          41.624       0.00     2.13
 TOTAL                  0           0         108               0           0          87.249       0.00     2.13

 CUMULATIVE             0           0         137    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         245        SHRINKAGE FACTOR =   8.00 %






                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,845            0         7,845           0         340         7,505
 2003                0           0         7,625            0         7,625           0         330         7,295
 2004                0           0         7,411            0         7,411           0         321         7,090
 2005                0           0         7,204            0         7,204           0         312         6,892
 2006                0           0         7,003            0         7,003           0         303         6,700
 2007                0           0         6,806            0         6,806           0         295         6,511
 2008                0           0         6,616            0         6,616           0         286         6,330
 2009                0           0         6,430            0         6,430           0         279         6,151
 2010                0           0         6,251            0         6,251           0         270         5,981
 2011                0           0         6,075            0         6,075           0         263         5,812
 2012                0           0         5,905            0         5,905           0         256         5,649
 2013                0           0         5,740            0         5,740           0         248         5,492
 2014                0           0         5,580            0         5,580           0         242         5,338
 2015                0           0         5,423            0         5,423           0         235         5,188
 2016                0           0         5,271            0         5,271           0         228         5,043

 SUB-TOT             0           0        97,185            0        97,185           0       4,208        92,977
 REMAIN              0           0        88,659            0        88,659           0       3,839        84,820
 TOTAL               0           0       185,844            0       185,844           0       8,047       177,797






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,544           0           0           0         2,544          4,961         4,961         4,724
 2003          2,544           0           0           0         2,544          4,751         9,712         4,095
 2004          2,544           0           0           0         2,544          4,546        14,258         3,546
 2005          2,544           0           0           0         2,544          4,348        18,606         3,071
 2006          2,544           0           0           0         2,544          4,156        22,762         2,657
 2007          2,544           0           0           0         2,544          3,967        26,729         2,296
 2008          2,544           0           0           0         2,544          3,786        30,515         1,984
 2009          2,544           0           0           0         2,544          3,607        34,122         1,710
 2010          2,544           0           0           0         2,544          3,437        37,559         1,476
 2011          2,544           0           0           0         2,544          3,268        40,827         1,269
 2012          2,544           0           0           0         2,544          3,105        43,932         1,093
 2013          2,544           0           0           0         2,544          2,948        46,880           938
 2014          2,544           0           0           0         2,544          2,794        49,674           806
 2015          2,544           0           0           0         2,544          2,644        52,318           690
 2016          2,544           0           0           0         2,544          2,499        54,817           590

 SUBTOT       38,160           0           0           0        38,160         54,817                      30,945
 REMAIN       59,360           0           0           0        59,360         25,460        80,277         3,107
 TOTAL        97,520           0           0           0        97,520         80,277                      34,052

   LIFE OF EVALUATION IS 38.33 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO






                                 TENGASCO, INC.                        TABLE 149
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL WEST FIELD, RUSH COUNTY, KANSAS                                               GAS LEASE
   TENGASCO, INC. - OPERATOR   11-T17S-R18W                                            PROVED
     LEGLEITER -A- #1   (CHASE)                                                        PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.738281                             2.13        5.00% -        58,918
 FINAL   -   1.000000                      0.738281                             2.13       10.00% -        47,206
 REMARKS -                                                                                 15.00% -        38,984
                                                                                           20.00% -        33,009
                                                                                           25.00% -        28,527





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          15               0           0          10.422       0.00     2.13
 2003     1             0           0          15               0           0          10.078       0.00     2.13
 2004     1             0           0          15               0           0           9.745       0.00     2.13
 2005     1             0           0          13               0           0           9.424       0.00     2.13
 2006     1             0           0          14               0           0           9.113       0.00     2.13
 2007     1             0           0          13               0           0           8.812       0.00     2.13
 2008     1             0           0          12               0           0           8.521       0.00     2.13
 2009     1             0           0          12               0           0           8.240       0.00     2.13
 2010     1             0           0          12               0           0           7.968       0.00     2.13
 2011     1             0           0          12               0           0           7.705       0.00     2.13
 2012     1             0           0          11               0           0           7.451       0.00     2.13
 2013     1             0           0          10               0           0           7.205       0.00     2.13
 2014     1             0           0          10               0           0           6.967       0.00     2.13
 2015     1             0           0          10               0           0           6.737       0.00     2.13
 2016     1             0           0          10               0           0           6.515       0.00     2.13

 SUB-TOTAL              0           0         184               0           0         124.903       0.00     2.13
 REMAINDER              0           0          23               0           0          15.852       0.00     2.13
 TOTAL                  0           0         207               0           0         140.755       0.00     2.13

 CUMULATIVE             0           0         249    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         456        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        22,198            0        22,198           0         961        21,237
 2003                0           0        21,465            0        21,465           0         930        20,535
 2004                0           0        20,758            0        20,758           0         898        19,860
 2005                0           0        20,072            0        20,072           0         870        19,202
 2006                0           0        19,410            0        19,410           0         840        18,570
 2007                0           0        18,769            0        18,769           0         813        17,956
 2008                0           0        18,150            0        18,150           0         786        17,364
 2009                0           0        17,550            0        17,550           0         760        16,790
 2010                0           0        16,972            0        16,972           0         734        16,238
 2011                0           0        16,412            0        16,412           0         711        15,701
 2012                0           0        15,870            0        15,870           0         687        15,183
 2013                0           0        15,346            0        15,346           0         665        14,681
 2014                0           0        14,840            0        14,840           0         642        14,198
 2015                0           0        14,350            0        14,350           0         622        13,728
 2016                0           0        13,877            0        13,877           0         600        13,277

 SUB-TOT             0           0       266,039            0       266,039           0      11,519       254,520
 REMAIN              0           0        33,765            0        33,765           0       1,463        32,302
 TOTAL               0           0       299,804            0       299,804           0      12,982       286,822






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         11,976           0           0           0        11,976          9,261         9,261         8,820
 2003         11,976           0           0           0        11,976          8,559        17,820         7,380
 2004         11,976           0           0           0        11,976          7,884        25,704         6,153
 2005         11,976           0           0           0        11,976          7,226        32,930         5,105
 2006         11,976           0           0           0        11,976          6,594        39,524         4,218
 2007         11,976           0           0           0        11,976          5,980        45,504         3,462
 2008         11,976           0           0           0        11,976          5,388        50,892         2,824
 2009         11,976           0           0           0        11,976          4,814        55,706         2,284
 2010         11,976           0           0           0        11,976          4,262        59,968         1,831
 2011         11,976           0           0           0        11,976          3,725        63,693         1,448
 2012         11,976           0           0           0        11,976          3,207        66,900         1,130
 2013         11,976           0           0           0        11,976          2,705        69,605           862
 2014         11,976           0           0           0        11,976          2,222        71,827           641
 2015         11,976           0           0           0        11,976          1,752        73,579           458
 2016         11,976           0           0           0        11,976          1,301        74,880           308

 SUBTOT      179,640           0           0           0       179,640         74,880                      46,924
 REMAIN       30,938           0           0           0        30,938          1,364        76,244           282
 TOTAL       210,578           0           0           0       210,578         76,244                      47,206

   LIFE OF EVALUATION IS 17.58 YEARS.
   FINAL PRODUCTION RATE: 0.7 MMCF/MO






                                 TENGASCO, INC.                        TABLE 150
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL WEST FIELD, RUSH COUNTY, KANSAS                                               GAS LEASE
   TENGASCO, INC. - OPERATOR   11-T17S-R18W                                            PROVED
     LEGLEITER #1-2   (CHASE)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.738281                             2.13        5.00% -         4,262
 FINAL   -   1.000000                      0.738281                             2.13       10.00% -         3,867
 REMARKS -                                                                                 15.00% -         3,527
                                                                                           20.00% -         3,235
                                                                                           25.00% -         2,981





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           3.626       0.00     2.13
 2003     1             0           0           6               0           0           3.506       0.00     2.13
 2004     1             0           0           4               0           0           3.391       0.00     2.13
 2005     1             0           0           5               0           0           3.279       0.00     2.13
 2006     1             0           0           5               0           0           3.171       0.00     2.13
 2007     1             0           0           5               0           0           3.066       0.00     2.13
 2008     1             0           0           2               0           0           1.495       0.00     2.13
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          32               0           0          21.534       0.00     2.13
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          32               0           0          21.534       0.00     2.13

 CUMULATIVE             0           0           2    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0          34        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         7,724            0         7,724           0         137         7,587
 2003                0           0         7,469            0         7,469           0         133         7,336
 2004                0           0         7,222            0         7,222           0         129         7,093
 2005                0           0         6,984            0         6,984           0         124         6,860
 2006                0           0         6,754            0         6,754           0         121         6,633
 2007                0           0         6,530            0         6,530           0         116         6,414
 2008                0           0         3,184            0         3,184           0          56         3,128
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        45,867            0        45,867           0         816        45,051
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        45,867            0        45,867           0         816        45,051






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                       
 2003          6,204           0           0           0         6,204          1,132         2,515           977
 2004          6,204           0           0           0         6,204            889         3,404           695
 2005          6,204           0           0           0         6,204            656         4,060           465
 2006          6,204           0           0           0         6,204            429         4,489           275
 2007          6,204           0           0           0         6,204            210         4,699           122
 2008          3,102           0           0           0         3,102             26         4,725            15
 2009              0           0           0           0             0              0         4,725             0
 2010              0           0           0           0             0              0         4,725             0
 2011              0           0           0           0             0              0         4,725             0
 2012              0           0           0           0             0              0         4,725             0
 2013              0           0           0           0             0              0         4,725             0
 2014              0           0           0           0             0              0         4,725             0
 2015              0           0           0           0             0              0         4,725             0
 2016              0           0           0           0             0              0         4,725             0

 SUBTOT       40,326           0           0           0        40,326          4,725                       3,867
 REMAIN            0           0           0           0             0              0         4,725             0
 TOTAL        40,326           0           0           0        40,326          4,725                       3,867

   LIFE OF EVALUATION IS 6.50 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO








                                 TENGASCO, INC.                        TABLE 151
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 REICHEL WEST FIELD, RUSH COUNTY, KANSAS                                               GAS LEASE
   TENGASCO, INC. - OPERATOR   1-T17S-R18W                                             PROVED
     MUTH #1   (CHSE-SHWN)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000                      0.722656                             2.13        5.00% -       125,518
 FINAL   -   1.000000                      0.722656                             2.13       10.00% -        97,000
 REMARKS -                                                                                 15.00% -        78,201
                                                                                           20.00% -        65,157
                                                                                           25.00% -        55,697





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2             0           0          22               0           0          14.762       0.00     2.13
 2003     2             0           0          22               0           0          14.187       0.00     2.13
 2004     2             0           0          20               0           0          13.633       0.00     2.13
 2005     2             0           0          20               0           0          13.102       0.00     2.13
 2006     2             0           0          19               0           0          12.591       0.00     2.13
 2007     2             0           0          18               0           0          12.100       0.00     2.13
 2008     2             0           0          17               0           0          11.628       0.00     2.13
 2009     2             0           0          17               0           0          11.174       0.00     2.13
 2010     2             0           0          16               0           0          10.738       0.00     2.13
 2011     2             0           0          16               0           0          10.320       0.00     2.13
 2012     2             0           0          15               0           0           9.917       0.00     2.13
 2013     2             0           0          14               0           0           9.530       0.00     2.13
 2014     2             0           0          14               0           0           9.159       0.00     2.13
 2015     2             0           0          13               0           0           8.802       0.00     2.13
 2016     2             0           0          13               0           0           8.458       0.00     2.13

 SUB-TOTAL              0           0         256               0           0         170.101       0.00     2.13
 REMAINDER              0           0          78               0           0          52.219       0.00     2.13
 TOTAL                  0           0         334               0           0         222.320       0.00     2.13

 CUMULATIVE             0           0         598    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE               0           0         932        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        31,444            0        31,444           0       1,362        30,082
 2003                0           0        30,217            0        30,217           0       1,308        28,909
 2004                0           0        29,039            0        29,039           0       1,257        27,782
 2005                0           0        27,907            0        27,907           0       1,209        26,698
 2006                0           0        26,818            0        26,818           0       1,161        25,657
 2007                0           0        25,772            0        25,772           0       1,116        24,656
 2008                0           0        24,767            0        24,767           0       1,072        23,695
 2009                0           0        23,801            0        23,801           0       1,031        22,770
 2010                0           0        22,873            0        22,873           0         990        21,883
 2011                0           0        21,981            0        21,981           0         952        21,029
 2012                0           0        21,124            0        21,124           0         915        20,209
 2013                0           0        20,299            0        20,299           0         879        19,420
 2014                0           0        19,509            0        19,509           0         844        18,665
 2015                0           0        18,747            0        18,747           0         812        17,935
 2016                0           0        18,016            0        18,016           0         780        17,236

 SUB-TOT             0           0       362,314            0       362,314           0      15,688       346,626
 REMAIN              0           0       111,227            0       111,227           0       4,816       106,411
 TOTAL               0           0       473,541            0       473,541           0      20,504       453,037






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         12,660           0           0           0        12,660         17,422        17,422        16,592
 2003         12,660           0           0           0        12,660         16,249        33,671        14,008
 2004         12,660           0           0           0        12,660         15,122        48,793        11,801
 2005         12,660           0           0           0        12,660         14,038        62,831         9,917
 2006         12,660           0           0           0        12,660         12,997        75,828         8,312
 2007         12,660           0           0           0        12,660         11,996        87,824         6,944
 2008         12,660           0           0           0        12,660         11,035        98,859         5,783
 2009         12,660           0           0           0        12,660         10,110       108,969         4,796
 2010         12,660           0           0           0        12,660          9,223       118,192         3,961
 2011         12,660           0           0           0        12,660          8,369       126,561         3,253
 2012         12,660           0           0           0        12,660          7,549       134,110         2,657
 2013         12,660           0           0           0        12,660          6,760       140,870         2,153
 2014         12,660           0           0           0        12,660          6,005       146,875         1,732
 2015         12,660           0           0           0        12,660          5,275       152,150         1,377
 2016         12,660           0           0           0        12,660          4,576       156,726         1,082

 SUBTOT      189,900           0           0           0       189,900        156,726                      94,368
 REMAIN       91,785           0           0           0        91,785         14,626       171,352         2,632
 TOTAL       281,685           0           0           0       281,685        171,352                      97,000

   LIFE OF EVALUATION IS 22.25 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO







                                 TENGASCO, INC.                        TABLE 152
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 RIDGEWAY SOUTH FIELD, TREGO COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   34-T12S-R21W                                            PROVED
     SCHOENTHALER #3   (ARBUCKLE)                                                      PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -        17,189
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -        16,448
 REMARKS -                                                                                 15.00% -        15,761
                                                                                           20.00% -        15,122
                                                                                           25.00% -        14,528





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,034           0           0           1,668           0           0.000      17.24     0.00
 2003     1         1,594           0           0           1,308           0           0.000      17.24     0.00
 2004     1         1,336           0           0           1,096           0           0.000      17.24     0.00
 2005     1           517           0           0             424           0           0.000      17.24     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          5,481           0           0           4,496           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              5,481           0           0           4,496           0           0.000      17.24     0.00

 CUMULATIVE        48,059           0           0
 ULTIMATE          53,540           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           28,759           0             0            0        28,759       1,245           0        27,514
 2003           22,548           0             0            0        22,548         977           0        21,571
 2004           18,901           0             0            0        18,901         818           0        18,083
 2005            7,307           0             0            0         7,307         316           0         6,991
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        77,515           0             0            0        77,515       3,356           0        74,159
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          77,515           0             0            0        77,515       3,356           0        74,159






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         16,440           0           0           0        16,440         11,074        11,074        10,593
 2003         16,440           0           0           0        16,440          5,131        16,205         4,458
 2004         16,440           0           0           0        16,440          1,643        17,848         1,294
 2005          6,850           0           0           0         6,850            141        17,989           103
 2006              0           0           0           0             0              0        17,989             0
 2007              0           0           0           0             0              0        17,989             0
 2008              0           0           0           0             0              0        17,989             0
 2009              0           0           0           0             0              0        17,989             0
 2010              0           0           0           0             0              0        17,989             0
 2011              0           0           0           0             0              0        17,989             0
 2012              0           0           0           0             0              0        17,989             0
 2013              0           0           0           0             0              0        17,989             0
 2014              0           0           0           0             0              0        17,989             0
 2015              0           0           0           0             0              0        17,989             0
 2016              0           0           0           0             0              0        17,989             0

 SUBTOT       56,170           0           0           0        56,170         17,989                      16,448
 REMAIN            0           0           0           0             0              0        17,989             0
 TOTAL        56,170           0           0           0        56,170         17,989                      16,448

   LIFE OF EVALUATION IS 3.42 YEARS.
   FINAL PRODUCTION RATE: 102 BBLS/MO







                                 TENGASCO, INC.                        TABLE 153
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   9-T13S-R21W                                             PROVED
     KELLER #1   (KSSC-LNSG)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         1,536
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         1,464
 REMARKS -                                                                                 15.00% -         1,397
                                                                                           20.00% -         1,335
                                                                                           25.00% -         1,278





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2           525           0           0             460           0           0.000      17.24     0.00
 2003     2           500           0           0             437           0           0.000      17.24     0.00
 2004     2           476           0           0             417           0           0.000      17.24     0.00
 2005     2            39           0           0              33           0           0.000      17.24     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          1,540           0           0           1,347           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              1,540           0           0           1,347           0           0.000      17.24     0.00

 CUMULATIVE        49,273           0           0
 ULTIMATE          50,813           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            7,923           0             0            0         7,923         343           0         7,580
 2003            7,543           0             0            0         7,543         327           0         7,216
 2004            7,181           0             0            0         7,181         311           0         6,870
 2005              582           0             0            0           582          25           0           557
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        23,229           0             0            0        23,229       1,006           0        22,223
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          23,229           0             0            0        23,229       1,006           0        22,223






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          6,684           0           0           0         6,684            896           896           856
 2003          6,684           0           0           0         6,684            532         1,428           461
 2004          6,684           0           0           0         6,684            186         1,614           147
 2005            557           0           0           0           557              0         1,614             0
 2006              0           0           0           0             0              0         1,614             0
 2007              0           0           0           0             0              0         1,614             0
 2008              0           0           0           0             0              0         1,614             0
 2009              0           0           0           0             0              0         1,614             0
 2010              0           0           0           0             0              0         1,614             0
 2011              0           0           0           0             0              0         1,614             0
 2012              0           0           0           0             0              0         1,614             0
 2013              0           0           0           0             0              0         1,614             0
 2014              0           0           0           0             0              0         1,614             0
 2015              0           0           0           0             0              0         1,614             0
 2016              0           0           0           0             0              0         1,614             0

 SUBTOT       20,609           0           0           0        20,609          1,614                       1,464
 REMAIN            0           0           0           0             0              0         1,614             0
 TOTAL        20,609           0           0           0        20,609          1,614                       1,464

   LIFE OF EVALUATION IS 3.08 YEARS.
   FINAL PRODUCTION RATE: 39 BBLS/MO







                                 TENGASCO, INC.                        TABLE 154
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   9-T13S-R21W                                             PROVED
     KELLER -A- #1   (ARBUCKLE)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        29,477
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        26,114
 REMARKS -                                                                                 15.00% -        23,346
                                                                                           20.00% -        21,045
                                                                                           25.00% -        19,114





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         1,353           0           0           1,184           0           0.000      17.24     0.00
 2003     3         1,257           0           0           1,100           0           0.000      17.24     0.00
 2004     3         1,172           0           0           1,025           0           0.000      17.24     0.00
 2005     3         1,095           0           0             958           0           0.000      17.24     0.00
 2006     3         1,025           0           0             897           0           0.000      17.24     0.00
 2007     3           961           0           0             841           0           0.000      17.24     0.00
 2008     3           904           0           0             791           0           0.000      17.24     0.00
 2009     3           852           0           0             745           0           0.000      17.24     0.00
 2010     3           672           0           0             589           0           0.000      17.24     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          9,291           0           0           8,130           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              9,291           0           0           8,130           0           0.000      17.24     0.00

 CUMULATIVE       100,974           0           0
 ULTIMATE         110,265           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           20,406           0             0            0        20,406         884           0        19,522
 2003           18,968           0             0            0        18,968         821           0        18,147
 2004           17,677           0             0            0        17,677         765           0        16,912
 2005           16,514           0             0            0        16,514         715           0        15,799
 2006           15,461           0             0            0        15,461         670           0        14,791
 2007           14,506           0             0            0        14,506         628           0        13,878
 2008           13,638           0             0            0        13,638         590           0        13,048
 2009           12,844           0             0            0        12,844         557           0        12,287
 2010           10,146           0             0            0        10,146         439           0         9,707
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       140,160           0             0            0       140,160       6,069           0       134,091
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         140,160           0             0            0       140,160       6,069           0       134,091






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         11,376           0           0           0        11,376          8,146         8,146         7,765
 2003         11,376           0           0           0        11,376          6,771        14,917         5,843
 2004         11,376           0           0           0        11,376          5,536        20,453         4,325
 2005         11,376           0           0           0        11,376          4,423        24,876         3,129
 2006         11,376           0           0           0        11,376          3,415        28,291         2,188
 2007         11,376           0           0           0        11,376          2,502        30,793         1,451
 2008         11,376           0           0           0        11,376          1,672        32,465           879
 2009         11,376           0           0           0        11,376            911        33,376           435
 2010          9,480           0           0           0         9,480            227        33,603            99
 2011              0           0           0           0             0              0        33,603             0
 2012              0           0           0           0             0              0        33,603             0
 2013              0           0           0           0             0              0        33,603             0
 2014              0           0           0           0             0              0        33,603             0
 2015              0           0           0           0             0              0        33,603             0
 2016              0           0           0           0             0              0        33,603             0

 SUBTOT      100,488           0           0           0       100,488         33,603                      26,114
 REMAIN            0           0           0           0             0              0        33,603             0
 TOTAL       100,488           0           0           0       100,488         33,603                      26,114

   LIFE OF EVALUATION IS 8.83 YEARS.
   FINAL PRODUCTION RATE: 66 BBLS/MO








                                 TENGASCO, INC.                        TABLE 155
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   16-T10S-R15W                                            PROVED
     MAIER #1   (KSSC-LNSG)                                                            PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.812500  0.676025                         17.24                               5.00% -           554
 FINAL   -   0.812500  0.676025                         17.24                              10.00% -           547
 REMARKS -                                                                                 15.00% -           541
                                                                                           20.00% -           535
                                                                                           25.00% -           530





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           744           0           0             503           0           0.000      17.24     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL            744           0           0             503           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                744           0           0             503           0           0.000      17.24     0.00

 CUMULATIVE        10,151           0           0
 ULTIMATE          10,895           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            8,673           0             0            0         8,673         376           0         8,297
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT         8,673           0             0            0         8,673         376           0         8,297
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL           8,673           0             0            0         8,673         376           0         8,297






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002          7,737           0           0           0         7,737            560           560           547
 2003              0           0           0           0             0              0           560             0
 2004              0           0           0           0             0              0           560             0
 2005              0           0           0           0             0              0           560             0
 2006              0           0           0           0             0              0           560             0
 2007              0           0           0           0             0              0           560             0
 2008              0           0           0           0             0              0           560             0
 2009              0           0           0           0             0              0           560             0
 2010              0           0           0           0             0              0           560             0
 2011              0           0           0           0             0              0           560             0
 2012              0           0           0           0             0              0           560             0
 2013              0           0           0           0             0              0           560             0
 2014              0           0           0           0             0              0           560             0
 2015              0           0           0           0             0              0           560             0
 2016              0           0           0           0             0              0           560             0

 SUBTOT        7,737           0           0           0         7,737            560                         547
 REMAIN            0           0           0           0             0              0           560             0
 TOTAL         7,737           0           0           0         7,737            560                         547

   LIFE OF EVALUATION IS 0.75 YEARS.
   FINAL PRODUCTION RATE: 77 BBLS/MO







                                 TENGASCO, INC.                        TABLE 156
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS                                            OIL LEASE
   TENGASCO, INC. - OPERATOR   16-T10S-R15W                                            PROVED
     MAIER #1 BP   (KSSC-LNSG)                                                         BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   0.812500  0.676025                         17.24                               5.00% -       129,325
 FINAL   -   0.812500  0.676025                         17.24                              10.00% -       100,755
 REMARKS -                                                                                 15.00% -        80,225
                                                                                           20.00% -        65,062
                                                                                           25.00% -        53,587





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                   
2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1         3,446           0           0           2,330           0           0.000      17.24     0.00
 2004     1         3,157           0           0           2,134           0           0.000      17.24     0.00
 2005     1         2,892           0           0           1,955           0           0.000      17.24     0.00
 2006     1         2,648           0           0           1,790           0           0.000      17.24     0.00
 2007     1         2,426           0           0           1,640           0           0.000      17.24     0.00
 2008     1         2,222           0           0           1,502           0           0.000      17.24     0.00
 2009     1         2,035           0           0           1,376           0           0.000      17.24     0.00
 2010     1         1,864           0           0           1,260           0           0.000      17.24     0.00
 2011     1         1,707           0           0           1,154           0           0.000      17.24     0.00
 2012     1         1,564           0           0           1,057           0           0.000      17.24     0.00
 2013     1         1,432           0           0             968           0           0.000      17.24     0.00
 2014     1         1,312           0           0             887           0           0.000      17.24     0.00
 2015     1         1,202           0           0             813           0           0.000      17.24     0.00
 2016     1         1,100           0           0             744           0           0.000      17.24     0.00

 SUB-TOTAL         29,007           0           0          19,610           0           0.000      17.24     0.00
 REMAINDER          1,480           0           0           1,000           0           0.000      17.24     0.00
 TOTAL             30,487           0           0          20,610           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          30,487           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003           40,168           0             0            0        40,168       1,739           0        38,429
 2004           36,791           0             0            0        36,791       1,593           0        35,198
 2005           33,698           0             0            0        33,698       1,459           0        32,239
 2006           30,866           0             0            0        30,866       1,337           0        29,529
 2007           28,271           0             0            0        28,271       1,224           0        27,047
 2008           25,895           0             0            0        25,895       1,121           0        24,774
 2009           23,718           0             0            0        23,718       1,027           0        22,691
 2010           21,724           0             0            0        21,724         941           0        20,783
 2011           19,898           0             0            0        19,898         862           0        19,036
 2012           18,225           0             0            0        18,225         789           0        17,436
 2013           16,694           0             0            0        16,694         723           0        15,971
 2014           15,290           0             0            0        15,290         662           0        14,628
 2015           14,005           0             0            0        14,005         606           0        13,399
 2016           12,828           0             0            0        12,828         555           0        12,273

 SUB-TOT       338,071           0             0            0       338,071      14,638           0       323,433
 REMAIN         17,248           0             0            0        17,248         747           0        16,501
 TOTAL         355,319           0             0            0       355,319      15,385           0       339,934






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003         10,316           0       9,750           0        20,066         18,363        18,363        15,457
 2004         10,315           0           0           0        10,315         24,883        43,246        19,427
 2005         10,316           0           0           0        10,316         21,923        65,169        15,494
 2006         10,315           0           0           0        10,315         19,214        84,383        12,293
 2007         10,316           0           0           0        10,316         16,731       101,114         9,690
 2008         10,315           0           0           0        10,315         14,459       115,573         7,581
 2009         10,316           0           0           0        10,316         12,375       127,948         5,874
 2010         10,315           0           0           0        10,315         10,468       138,416         4,498
 2011         10,316           0           0           0        10,316          8,720       147,136         3,393
 2012         10,315           0           0           0        10,315          7,121       154,257         2,508
 2013         10,316           0           0           0        10,316          5,655       159,912         1,803
 2014         10,315           0           0           0        10,315          4,313       164,225         1,246
 2015         10,316           0           0           0        10,316          3,083       167,308           807
 2016         10,315           0           0           0        10,315          1,958       169,266           464

 SUBTOT      144,417           0       9,750           0       154,167        169,266                     100,535
 REMAIN       15,473           0           0           0        15,473          1,028       170,294           220
 TOTAL       159,890           0       9,750           0       169,640        170,294                     100,755

   LIFE OF EVALUATION IS 16.50 YEARS.
   FINAL PRODUCTION RATE: 77 BBLS/MO






                                 TENGASCO, INC.                        TABLE 157
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SANDFORD FIELD, BARTON COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   26-T17S-R14W                                            PROVED
     BEN TEMPERO #1   (ARBUCKLE)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820312                         17.24                               5.00% -        31,288
 FINAL   -   1.000000  0.820312                         17.24                              10.00% -        29,261
 REMARKS -                                                                                 15.00% -        27,443
                                                                                           20.00% -        25,809
                                                                                           25.00% -        24,335





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,938           0           0           2,410           0           0.000      17.24     0.00
 2003     1         2,589           0           0           2,124           0           0.000      17.24     0.00
 2004     1         2,313           0           0           1,898           0           0.000      17.24     0.00
 2005     1         2,092           0           0           1,715           0           0.000      17.24     0.00
 2006     1         1,290           0           0           1,058           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         11,222           0           0           9,205           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             11,222           0           0           9,205           0           0.000      17.24     0.00

 CUMULATIVE       109,186           0           0
 ULTIMATE         120,408           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           41,552           0             0            0        41,552       1,799           0        39,753
 2003           36,611           0             0            0        36,611       1,585           0        35,026
 2004           32,718           0             0            0        32,718       1,417           0        31,301
 2005           29,574           0             0            0        29,574       1,281           0        28,293
 2006           18,246           0             0            0        18,246         790           0        17,456
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       158,701           0             0            0       158,701       6,872           0       151,829
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         158,701           0             0            0       158,701       6,872           0       151,829






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         25,344           0           0           0        25,344         14,409        14,409        13,757
 2003         25,344           0           0           0        25,344          9,682        24,091         8,371
 2004         25,344           0           0           0        25,344          5,957        30,048         4,668
 2005         25,344           0           0           0        25,344          2,949        32,997         2,097
 2006         16,896           0           0           0        16,896            560        33,557           368
 2007              0           0           0           0             0              0        33,557             0
 2008              0           0           0           0             0              0        33,557             0
 2009              0           0           0           0             0              0        33,557             0
 2010              0           0           0           0             0              0        33,557             0
 2011              0           0           0           0             0              0        33,557             0
 2012              0           0           0           0             0              0        33,557             0
 2013              0           0           0           0             0              0        33,557             0
 2014              0           0           0           0             0              0        33,557             0
 2015              0           0           0           0             0              0        33,557             0
 2016              0           0           0           0             0              0        33,557             0

 SUBTOT      118,272           0           0           0       118,272         33,557                      29,261
 REMAIN            0           0           0           0             0              0        33,557             0
 TOTAL       118,272           0           0           0       118,272         33,557                      29,261

   LIFE OF EVALUATION IS 4.67 YEARS.
   FINAL PRODUCTION RATE: 157 BBLS/MO








                                 TENGASCO, INC.                        TABLE 158
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SANDFORD FIELD, BARTON COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   26-T17S-R14W                                            PROVED
     BEN TEMPERO #5 PUD   (ARBUCKLE)                                                   UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.820312                         17.24                               5.00% -        67,884
 FINAL   -   1.000000  0.820312                         17.24                              10.00% -        43,716
 REMARKS -                                                                                 15.00% -        26,491
                                                                                           20.00% -        13,920
                                                                                           25.00% -         4,554





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         3,782           0           0           3,102           0           0.000      17.24     0.00
 2003     1         3,560           0           0           2,921           0           0.000      17.24     0.00
 2004     1         2,853           0           0           2,340           0           0.000      17.24     0.00
 2005     1         2,694           0           0           2,210           0           0.000      17.24     0.00
 2006     1         2,544           0           0           2,087           0           0.000      17.24     0.00
 2007     1         2,402           0           0           1,970           0           0.000      17.24     0.00
 2008     1         2,268           0           0           1,861           0           0.000      17.24     0.00
 2009     1         2,142           0           0           1,757           0           0.000      17.24     0.00
 2010     1         2,023           0           0           1,659           0           0.000      17.24     0.00
 2011     1         1,910           0           0           1,567           0           0.000      17.24     0.00
 2012     1         1,804           0           0           1,480           0           0.000      17.24     0.00
 2013     1         1,703           0           0           1,397           0           0.000      17.24     0.00
 2014     1         1,609           0           0           1,320           0           0.000      17.24     0.00
 2015     1         1,519           0           0           1,246           0           0.000      17.24     0.00
 2016     1         1,434           0           0           1,176           0           0.000      17.24     0.00

 SUB-TOTAL         34,247           0           0          28,093           0           0.000      17.24     0.00
 REMAINDER          1,134           0           0             930           0           0.000      17.24     0.00
 TOTAL             35,381           0           0          29,023           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          35,381           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           53,487           0             0            0        53,487       2,316           0        51,171
 2003           50,351           0             0            0        50,351       2,180           0        48,171
 2004           40,344           0             0            0        40,344       1,747           0        38,597
 2005           38,096           0             0            0        38,096       1,650           0        36,446
 2006           35,975           0             0            0        35,975       1,557           0        34,418
 2007           33,972           0             0            0        33,972       1,471           0        32,501
 2008           32,080           0             0            0        32,080       1,389           0        30,691
 2009           30,293           0             0            0        30,293       1,312           0        28,981
 2010           28,606           0             0            0        28,606       1,239           0        27,367
 2011           27,013           0             0            0        27,013       1,169           0        25,844
 2012           25,509           0             0            0        25,509       1,105           0        24,404
 2013           24,088           0             0            0        24,088       1,043           0        23,045
 2014           22,747           0             0            0        22,747         985           0        21,762
 2015           21,479           0             0            0        21,479         930           0        20,549
 2016           20,284           0             0            0        20,284         878           0        19,406

 SUB-TOT       484,324           0             0            0       484,324      20,971           0       463,353
 REMAIN         16,038           0             0            0        16,038         695           0        15,343
 TOTAL         500,362           0             0            0       500,362      21,666           0       478,696






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2003         18,000           0           0           0        18,000         30,171       -27,658        26,226
 2004         18,000           0           0           0        18,000         20,597        -7,061        16,078
 2005         18,000           0           0           0        18,000         18,446        11,385        13,035
 2006         18,000           0           0           0        18,000         16,418        27,803        10,503
 2007         18,000           0           0           0        18,000         14,501        42,304         8,398
 2008         18,000           0           0           0        18,000         12,691        54,995         6,653
 2009         18,000           0           0           0        18,000         10,981        65,976         5,212
 2010         18,000           0           0           0        18,000          9,367        75,343         4,025
 2011         18,000           0           0           0        18,000          7,844        83,187         3,052
 2012         18,000           0           0           0        18,000          6,404        89,591         2,255
 2013         18,000           0           0           0        18,000          5,045        94,636         1,610
 2014         18,000           0           0           0        18,000          3,762        98,398         1,086
 2015         18,000           0           0           0        18,000          2,549       100,947           668
 2016         18,000           0           0           0        18,000          1,406       102,353           334

 SUBTOT      261,000           0     100,000           0       361,000        102,353                      43,641
 REMAIN       15,000           0           0           0        15,000            343       102,696            75
 TOTAL       276,000           0     100,000           0       376,000        102,696                      43,716

   LIFE OF EVALUATION IS 15.83 YEARS.
   FINAL PRODUCTION RATE: 111 BBLS/MO








                                 TENGASCO, INC.                        TABLE 159
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SCHWINDT FIELD, RUSH COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   30-T17S-R18W                                            PROVED
     JACOBS -B- #3   (CNGL-LNSG-MSSP-VIOL)                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        48,440
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        41,122
 REMARKS -                                                                                 15.00% -        35,478
                                                                                           20.00% -        31,047
                                                                                           25.00% -        27,510





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,847           0           0           1,616           0           0.000      17.24     0.00
 2003     1         1,774           0           0           1,552           0           0.000      17.24     0.00
 2004     1         1,702           0           0           1,490           0           0.000      17.24     0.00
 2005     1         1,634           0           0           1,430           0           0.000      17.24     0.00
 2006     1         1,569           0           0           1,372           0           0.000      17.24     0.00
 2007     1         1,506           0           0           1,318           0           0.000      17.24     0.00
 2008     1         1,446           0           0           1,266           0           0.000      17.24     0.00
 2009     1         1,389           0           0           1,214           0           0.000      17.24     0.00
 2010     1         1,332           0           0           1,166           0           0.000      17.24     0.00
 2011     1         1,279           0           0           1,120           0           0.000      17.24     0.00
 2012     1         1,228           0           0           1,074           0           0.000      17.24     0.00
 2013     1         1,179           0           0           1,032           0           0.000      17.24     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         17,885           0           0          15,650           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             17,885           0           0          15,650           0           0.000      17.24     0.00

 CUMULATIVE        73,607           0           0
 ULTIMATE          91,492           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           27,866           0             0            0        27,866       1,207           0        26,659
 2003           26,751           0             0            0        26,751       1,158           0        25,593
 2004           25,681           0             0            0        25,681       1,112           0        24,569
 2005           24,653           0             0            0        24,653       1,067           0        23,586
 2006           23,668           0             0            0        23,668       1,025           0        22,643
 2007           22,721           0             0            0        22,721         984           0        21,737
 2008           21,812           0             0            0        21,812         944           0        20,868
 2009           20,939           0             0            0        20,939         907           0        20,032
 2010           20,102           0             0            0        20,102         871           0        19,231
 2011           19,298           0             0            0        19,298         835           0        18,463
 2012           18,526           0             0            0        18,526         802           0        17,724
 2013           17,785           0             0            0        17,785         770           0        17,015
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       269,802           0             0            0       269,802      11,682           0       258,120
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         269,802           0             0            0       269,802      11,682           0       258,120






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         16,668           0           0           0        16,668          9,991         9,991         9,518
 2003         16,668           0           0           0        16,668          8,925        18,916         7,697
 2004         16,668           0           0           0        16,668          7,901        26,817         6,169
 2005         16,668           0           0           0        16,668          6,918        33,735         4,890
 2006         16,668           0           0           0        16,668          5,975        39,710         3,823
 2007         16,668           0           0           0        16,668          5,069        44,779         2,937
 2008         16,668           0           0           0        16,668          4,200        48,979         2,203
 2009         16,668           0           0           0        16,668          3,364        52,343         1,597
 2010         16,668           0           0           0        16,668          2,563        54,906         1,103
 2011         16,668           0           0           0        16,668          1,795        56,701           700
 2012         16,668           0           0           0        16,668          1,056        57,757           373
 2013         16,668           0           0           0        16,668            347        58,104           112
 2014              0           0           0           0             0              0        58,104             0
 2015              0           0           0           0             0              0        58,104             0
 2016              0           0           0           0             0              0        58,104             0

 SUBTOT      200,016           0           0           0       200,016         58,104                      41,122
 REMAIN            0           0           0           0             0              0        58,104             0
 TOTAL       200,016           0           0           0       200,016         58,104                      41,122

   LIFE OF EVALUATION IS 12.00 YEARS.
   FINAL PRODUCTION RATE: 96 BBLS/MO








                                 TENGASCO, INC.                        TABLE 160
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SPRING CREEK FIELD, TREGO COUNTY, KANSAS                                              OIL LEASE
   TENGASCO, INC. - OPERATOR   32-T12S-R21W                                            PROVED
     RIDGWAY #1   (ARBUCKLE)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                            
 INITIAL -   1.000000  0.779300                         17.24                               5.00% -        71,644
 FINAL   -   1.000000  0.779300                         17.24                              10.00% -        62,240
 REMARKS -                                                                                 15.00% -        54,740
                                                                                           20.00% -        48,676
                                                                                           25.00% -        43,709





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,332           0           0           1,817           0           0.000      17.24     0.00
 2003     1         2,139           0           0           1,668           0           0.000      17.24     0.00
 2004     1         1,964           0           0           1,530           0           0.000      17.24     0.00
 2005     1         1,801           0           0           1,404           0           0.000      17.24     0.00
 2006     1         1,653           0           0           1,288           0           0.000      17.24     0.00
 2007     1         1,517           0           0           1,182           0           0.000      17.24     0.00
 2008     1         1,392           0           0           1,085           0           0.000      17.24     0.00
 2009     1         1,277           0           0             995           0           0.000      17.24     0.00
 2010     1         1,172           0           0             913           0           0.000      17.24     0.00
 2011     1         1,076           0           0             838           0           0.000      17.24     0.00
 2012     1           504           0           0             393           0           0.000      17.24     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         16,827           0           0          13,113           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             16,827           0           0          13,113           0           0.000      17.24     0.00

 CUMULATIVE       109,501           0           0
 ULTIMATE         126,328           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           31,328           0             0            0        31,328       1,356           0        29,972
 2003           28,746           0             0            0        28,746       1,245           0        27,501
 2004           26,378           0             0            0        26,378       1,142           0        25,236
 2005           24,204           0             0            0        24,204       1,048           0        23,156
 2006           22,210           0             0            0        22,210         962           0        21,248
 2007           20,380           0             0            0        20,380         883           0        19,497
 2008           18,700           0             0            0        18,700         809           0        17,891
 2009           17,159           0             0            0        17,159         743           0        16,416
 2010           15,746           0             0            0        15,746         682           0        15,064
 2011           14,448           0             0            0        14,448         626           0        13,822
 2012            6,771           0             0            0         6,771         293           0         6,478
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       226,070           0             0            0       226,070       9,789           0       216,281
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         226,070           0             0            0       226,070       9,789           0       216,281






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         12,636           0           0           0        12,636         17,336        17,336        16,521
 2003         12,636           0           0           0        12,636         14,865        32,201        12,824
 2004         12,636           0           0           0        12,636         12,600        44,801         9,841
 2005         12,636           0           0           0        12,636         10,520        55,321         7,439
 2006         12,636           0           0           0        12,636          8,612        63,933         5,513
 2007         12,636           0           0           0        12,636          6,861        70,794         3,977
 2008         12,636           0           0           0        12,636          5,255        76,049         2,759
 2009         12,636           0           0           0        12,636          3,780        79,829         1,797
 2010         12,636           0           0           0        12,636          2,428        82,257         1,047
 2011         12,636           0           0           0        12,636          1,186        83,443           464
 2012          6,318           0           0           0         6,318            160        83,603            58
 2013              0           0           0           0             0              0        83,603             0
 2014              0           0           0           0             0              0        83,603             0
 2015              0           0           0           0             0              0        83,603             0
 2016              0           0           0           0             0              0        83,603             0

 SUBTOT      132,678           0           0           0       132,678         83,603                      62,240
 REMAIN            0           0           0           0             0              0        83,603             0
 TOTAL       132,678           0           0           0       132,678         83,603                      62,240

   LIFE OF EVALUATION IS 10.50 YEARS.
   FINAL PRODUCTION RATE: 83 BBLS/MO






                                 TENGASCO, INC.                        TABLE 161
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STOCKTON FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   35-T7S-R17W                                             PROVED
     HINDMAN, D.A. #1   (TOPEKA)                                                       PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000  0.809370                         17.24                               5.00% -         3,378
 FINAL   -   1.000000  0.809370                         17.24                              10.00% -         3,124
 REMARKS -                                                                                 15.00% -         2,899
                                                                                           20.00% -         2,699
                                                                                           25.00% -         2,521





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           680           0           0             550           0           0.000      17.24     0.00
 2003     1           657           0           0             532           0           0.000      17.24     0.00
 2004     1           634           0           0             514           0           0.000      17.24     0.00
 2005     1           614           0           0             496           0           0.000      17.24     0.00
 2006     1           593           0           0             480           0           0.000      17.24     0.00
 2007     1            49           0           0              40           0           0.000      17.24     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,227           0           0           2,612           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,227           0           0           2,612           0           0.000      17.24     0.00

 CUMULATIVE        49,403           0           0
 ULTIMATE          52,630           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            9,484           0             0            0         9,484         411           0         9,073
 2003            9,165           0             0            0         9,165         397           0         8,768
 2004            8,859           0             0            0         8,859         383           0         8,476
 2005            8,562           0             0            0         8,562         371           0         8,191
 2006            8,275           0             0            0         8,275         358           0         7,917
 2007              677           0             0            0           677          29           0           648
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        45,022           0             0            0        45,022       1,949           0        43,073
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          45,022           0             0            0        45,022       1,949           0        43,073






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          7,752           0           0           0         7,752          1,321         1,321         1,260
 2003          7,752           0           0           0         7,752          1,016         2,337           877
 2004          7,752           0           0           0         7,752            724         3,061           567
 2005          7,752           0           0           0         7,752            439         3,500           311
 2006          7,752           0           0           0         7,752            165         3,665           107
 2007            646           0           0           0           646              2         3,667             2
 2008              0           0           0           0             0              0         3,667             0
 2009              0           0           0           0             0              0         3,667             0
 2010              0           0           0           0             0              0         3,667             0
 2011              0           0           0           0             0              0         3,667             0
 2012              0           0           0           0             0              0         3,667             0
 2013              0           0           0           0             0              0         3,667             0
 2014              0           0           0           0             0              0         3,667             0
 2015              0           0           0           0             0              0         3,667             0
 2016              0           0           0           0             0              0         3,667             0

 SUBTOT       39,406           0           0           0        39,406          3,667                       3,124
 REMAIN            0           0           0           0             0              0         3,667             0
 TOTAL        39,406           0           0           0        39,406          3,667                       3,124

   LIFE OF EVALUATION IS 5.08 YEARS.
   FINAL PRODUCTION RATE: 49 BBLS/MO






                                 TENGASCO, INC.                        TABLE 162
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STOCKTON FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   26-T7S-R17W                                             PROVED
     STEBBINS #1   (HOWARD)                                                            PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.925000  0.751570                         17.24                               5.00% -        19,085
 FINAL   -   0.925000  0.751570                         17.24                              10.00% -        16,208
 REMARKS -                                                                                 15.00% -        13,987
                                                                                           20.00% -        12,241
                                                                                           25.00% -        10,846





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           951           0           0             715           0           0.000      17.24     0.00
 2003     1           918           0           0             690           0           0.000      17.24     0.00
 2004     1           886           0           0             665           0           0.000      17.24     0.00
 2005     1           854           0           0             643           0           0.000      17.24     0.00
 2006     1           825           0           0             619           0           0.000      17.24     0.00
 2007     1           796           0           0             599           0           0.000      17.24     0.00
 2008     1           768           0           0             577           0           0.000      17.24     0.00
 2009     1           741           0           0             557           0           0.000      17.24     0.00
 2010     1           715           0           0             537           0           0.000      17.24     0.00
 2011     1           690           0           0             519           0           0.000      17.24     0.00
 2012     1           666           0           0             501           0           0.000      17.24     0.00
 2013     1           591           0           0             443           0           0.000      17.24     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          9,401           0           0           7,065           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              9,401           0           0           7,065           0           0.000      17.24     0.00

 CUMULATIVE        45,296           0           0
 ULTIMATE          54,697           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002           12,323           0             0            0        12,323         534           0        11,789
 2003           11,892           0             0            0        11,892         515           0        11,377
 2004           11,476           0             0            0        11,476         496           0        10,980
 2005           11,074           0             0            0        11,074         480           0        10,594
 2006           10,686           0             0            0        10,686         463           0        10,223
 2007           10,313           0             0            0        10,313         446           0         9,867
 2008            9,951           0             0            0         9,951         431           0         9,520
 2009            9,603           0             0            0         9,603         416           0         9,187
 2010            9,268           0             0            0         9,268         401           0         8,867
 2011            8,942           0             0            0         8,942         387           0         8,555
 2012            8,630           0             0            0         8,630         374           0         8,256
 2013            7,645           0             0            0         7,645         331           0         7,314
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       121,803           0             0            0       121,803       5,274           0       116,529
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         121,803           0             0            0       121,803       5,274           0       116,529






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          7,859           0           0           0         7,859          3,930         3,930         3,744
 2003          7,859           0           0           0         7,859          3,518         7,448         3,034
 2004          7,858           0           0           0         7,858          3,122        10,570         2,437
 2005          7,859           0           0           0         7,859          2,735        13,305         1,933
 2006          7,859           0           0           0         7,859          2,364        15,669         1,513
 2007          7,859           0           0           0         7,859          2,008        17,677         1,164
 2008          7,859           0           0           0         7,859          1,661        19,338           871
 2009          7,858           0           0           0         7,858          1,329        20,667           631
 2010          7,859           0           0           0         7,859          1,008        21,675           434
 2011          7,859           0           0           0         7,859            696        22,371           271
 2012          7,859           0           0           0         7,859            397        22,768           140
 2013          7,204           0           0           0         7,204            110        22,878            36
 2014              0           0           0           0             0              0        22,878             0
 2015              0           0           0           0             0              0        22,878             0
 2016              0           0           0           0             0              0        22,878             0

 SUBTOT       93,651           0           0           0        93,651         22,878                      16,208
 REMAIN            0           0           0           0             0              0        22,878             0
 TOTAL        93,651           0           0           0        93,651         22,878                      16,208

   LIFE OF EVALUATION IS 11.92 YEARS.
   FINAL PRODUCTION RATE: 53 BBLS/MO







                                 TENGASCO, INC.                        TABLE 163
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STOCKTON FIELD, ROOKS COUNTY, KANSAS                                                  OIL LEASE
   TENGASCO, INC. - OPERATOR   26-T7S-R17W                                             PROVED
     WATTS #1                                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.925000  0.809380                         17.24                               5.00% -         4,857
 FINAL   -   0.925000  0.809380                         17.24                              10.00% -         4,500
 REMARKS -                                                                                 15.00% -         4,184
                                                                                           20.00% -         3,903
                                                                                           25.00% -         3,652






                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           707           0           0             573           0           0.000      17.24     0.00
 2003     1           672           0           0             543           0           0.000      17.24     0.00
 2004     1           639           0           0             517           0           0.000      17.24     0.00
 2005     1           606           0           0             491           0           0.000      17.24     0.00
 2006     1           576           0           0             466           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,200           0           0           2,590           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,200           0           0           2,590           0           0.000      17.24     0.00

 CUMULATIVE        41,926           0           0
 ULTIMATE          45,126           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            9,870           0             0            0         9,870         427           0         9,443
 2003            9,377           0             0            0         9,377         406           0         8,971
 2004            8,908           0             0            0         8,908         386           0         8,522
 2005            8,462           0             0            0         8,462         367           0         8,095
 2006            8,040           0             0            0         8,040         348           0         7,692
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        44,657           0             0            0        44,657       1,934           0        42,723
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          44,657           0             0            0        44,657       1,934           0        42,723






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          7,493           0           0           0         7,493          1,950         1,950         1,860
 2003          7,492           0           0           0         7,492          1,479         3,429         1,277
 2004          7,493           0           0           0         7,493          1,029         4,458           806
 2005          7,492           0           0           0         7,492            603         5,061           428
 2006          7,493           0           0           0         7,493            199         5,260           129
 2007              0           0           0           0             0              0         5,260             0
 2008              0           0           0           0             0              0         5,260             0
 2009              0           0           0           0             0              0         5,260             0
 2010              0           0           0           0             0              0         5,260             0
 2011              0           0           0           0             0              0         5,260             0
 2012              0           0           0           0             0              0         5,260             0
 2013              0           0           0           0             0              0         5,260             0
 2014              0           0           0           0             0              0         5,260             0
 2015              0           0           0           0             0              0         5,260             0
 2016              0           0           0           0             0              0         5,260             0

 SUBTOT       37,463           0           0           0        37,463          5,260                       4,500
 REMAIN            0           0           0           0             0              0         5,260             0
 TOTAL        37,463           0           0           0        37,463          5,260                       4,500

   LIFE OF EVALUATION IS 5.00 YEARS.
   FINAL PRODUCTION RATE: 47 BBLS/MO





                                 TENGASCO, INC.                        TABLE 164
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STREMEL FIELD, RUSH COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   30-T16S-R16W                                            PROVED
     OCHS #1   (MISSISSIPPIAN)                                                         PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        24,079           0         180    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
 ULTIMATE          24,079           0         180        SHRINKAGE FACTOR =   8.00 %





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO




                                 TENGASCO, INC.                        TABLE 165
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STREMEL FIELD, RUSH COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   30-T16S-R16W                                            PROVED
     URBAN -D- #2   (KSSC-LNSG)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -         5,356
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -         4,969
 REMARKS -                                                                                 15.00% -         4,626
                                                                                           20.00% -         4,320
                                                                                           25.00% -         4,046





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2           859           0           0             752           0           0.000      17.24     0.00
 2003     2           823           0           0             720           0           0.000      17.24     0.00
 2004     2           787           0           0             688           0           0.000      17.24     0.00
 2005     2           753           0           0             660           0           0.000      17.24     0.00
 2006     2           662           0           0             579           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,884           0           0           3,399           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,884           0           0           3,399           0           0.000      17.24     0.00

 CUMULATIVE        57,802           0           0
 ULTIMATE          61,686           0           0






                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           12,965           0             0            0        12,965         561           0        12,404
 2003           12,408           0             0            0        12,408         538           0        11,870
 2004           11,874           0             0            0        11,874         514           0        11,360
 2005           11,363           0             0            0        11,363         492           0        10,871
 2006            9,987           0             0            0         9,987         432           0         9,555
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        58,597           0             0            0        58,597       2,537           0        56,060
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          58,597           0             0            0        58,597       2,537           0        56,060






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         10,224           0           0           0        10,224          2,180         2,180         2,079
 2003         10,224           0           0           0        10,224          1,646         3,826         1,422
 2004         10,224           0           0           0        10,224          1,136         4,962           889
 2005         10,224           0           0           0        10,224            647         5,609           460
 2006          9,372           0           0           0         9,372            183         5,792           119
 2007              0           0           0           0             0              0         5,792             0
 2008              0           0           0           0             0              0         5,792             0
 2009              0           0           0           0             0              0         5,792             0
 2010              0           0           0           0             0              0         5,792             0
 2011              0           0           0           0             0              0         5,792             0
 2012              0           0           0           0             0              0         5,792             0
 2013              0           0           0           0             0              0         5,792             0
 2014              0           0           0           0             0              0         5,792             0
 2015              0           0           0           0             0              0         5,792             0
 2016              0           0           0           0             0              0         5,792             0

 SUBTOT       50,268           0           0           0        50,268          5,792                       4,969
 REMAIN            0           0           0           0             0              0         5,792             0
 TOTAL        50,268           0           0           0        50,268          5,792                       4,969

   LIFE OF EVALUATION IS 4.92 YEARS.
   FINAL PRODUCTION RATE: 59 BBLS/MO






                                 TENGASCO, INC.                        TABLE 166
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 THACKER FIELD, RUSSELL COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   29-T13S-R13W                                            PROVED
     THACKER #2   (KC-LANSING)                                                         PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.847656                         17.24                               5.00% -       255,714
 FINAL   -   1.000000  0.847656                         17.24                              10.00% -       178,127
 REMARKS -                                                                                 15.00% -       135,650
                                                                                           20.00% -       109,381
                                                                                           25.00% -        91,642





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,018           0           0           1,711           0           0.000      17.24     0.00
 2003     1         1,917           0           0           1,624           0           0.000      17.24     0.00
 2004     1         1,821           0           0           1,544           0           0.000      17.24     0.00
 2005     1         1,730           0           0           1,467           0           0.000      17.24     0.00
 2006     1         1,644           0           0           1,393           0           0.000      17.24     0.00
 2007     1         1,561           0           0           1,324           0           0.000      17.24     0.00
 2008     1         1,484           0           0           1,257           0           0.000      17.24     0.00
 2009     1         1,409           0           0           1,194           0           0.000      17.24     0.00
 2010     1         1,339           0           0           1,135           0           0.000      17.24     0.00
 2011     1         1,271           0           0           1,078           0           0.000      17.24     0.00
 2012     1         1,209           0           0           1,024           0           0.000      17.24     0.00
 2013     1         1,147           0           0             973           0           0.000      17.24     0.00
 2014     1         1,091           0           0             925           0           0.000      17.24     0.00
 2015     1         1,036           0           0             878           0           0.000      17.24     0.00
 2016     1           984           0           0             834           0           0.000      17.24     0.00

 SUB-TOTAL         21,661           0           0          18,361           0           0.000      17.24     0.00
 REMAINDER         11,682           0           0           9,902           0           0.000      17.24     0.00
 TOTAL             33,343           0           0          28,263           0           0.000      17.24     0.00

 CUMULATIVE        22,501           0           0
 ULTIMATE          55,844           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           29,489           0             0            0        29,489       1,277           0        28,212
 2003           28,015           0             0            0        28,015       1,213           0        26,802
 2004           26,614           0             0            0        26,614       1,152           0        25,462
 2005           25,283           0             0            0        25,283       1,095           0        24,188
 2006           24,019           0             0            0        24,019       1,040           0        22,979
 2007           22,818           0             0            0        22,818         988           0        21,830
 2008           21,677           0             0            0        21,677         939           0        20,738
 2009           20,594           0             0            0        20,594         891           0        19,703
 2010           19,563           0             0            0        19,563         848           0        18,715
 2011           18,586           0             0            0        18,586         804           0        17,782
 2012           17,656           0             0            0        17,656         765           0        16,891
 2013           16,774           0             0            0        16,774         726           0        16,048
 2014           15,934           0             0            0        15,934         690           0        15,244
 2015           15,138           0             0            0        15,138         656           0        14,482
 2016           14,381           0             0            0        14,381         622           0        13,759

 SUB-TOT       316,541           0             0            0       316,541      13,706           0       302,835
 REMAIN        170,720           0             0            0       170,720       7,392           0       163,328
 TOTAL         487,261           0             0            0       487,261      21,098           0       466,163






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,296           0           0           0         1,296         26,916        26,916        25,630
 2003          1,296           0           0           0         1,296         25,506        52,422        21,986
 2004          1,296           0           0           0         1,296         24,166        76,588        18,856
 2005          1,296           0           0           0         1,296         22,892        99,480        16,169
 2006          1,296           0           0           0         1,296         21,683       121,163        13,864
 2007          1,296           0           0           0         1,296         20,534       141,697        11,884
 2008          1,296           0           0           0         1,296         19,442       161,139        10,186
 2009          1,296           0           0           0         1,296         18,407       179,546         8,729
 2010          1,296           0           0           0         1,296         17,419       196,965         7,478
 2011          1,296           0           0           0         1,296         16,486       213,451         6,407
 2012          1,296           0           0           0         1,296         15,595       229,046         5,485
 2013          1,296           0           0           0         1,296         14,752       243,798         4,698
 2014          1,296           0           0           0         1,296         13,948       257,746         4,020
 2015          1,296           0           0           0         1,296         13,186       270,932         3,441
 2016          1,296           0           0           0         1,296         12,463       283,395         2,943

 SUBTOT       19,440           0           0           0        19,440        283,395                     161,776
 REMAIN       24,768           0           0           0        24,768        138,560       421,955        16,351
 TOTAL        44,208           0           0           0        44,208        421,955                     178,127

   LIFE OF EVALUATION IS 34.11 YEARS.
   FINAL PRODUCTION RATE: 30 BBLS/MO





                                 TENGASCO, INC.                        TABLE 167
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 TRAPP FIELD, BARTON COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   16-T16S-R13W                                            PROVED
     DEUTSCH   (ARBUCKLE)                                                              PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        16,833           0           0
 ULTIMATE          16,833           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO







                                 TENGASCO, INC.                        TABLE 168
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 TRAPP FIELD, BARTON COUNTY, KANSAS                                                    OIL LEASE
   TENGASCO, INC. - OPERATOR   8-T16S-R13W                                             PROVED
     HOWLIER #1   (ARBUCKLE)                                                           PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.937000  0.768633                         17.24                               5.00% -         8,061
 FINAL   -   0.937000  0.768633                         17.24                              10.00% -         7,554
 REMARKS -                                                                                 15.00% -         7,097
                                                                                           20.00% -         6,684
                                                                                           25.00% -         6,310





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,154           0           0             887           0           0.000      17.24     0.00
 2003     1         1,068           0           0             821           0           0.000      17.24     0.00
 2004     1           987           0           0             759           0           0.000      17.24     0.00
 2005     1           914           0           0             702           0           0.000      17.24     0.00
 2006     1           217           0           0             167           0           0.000      17.24     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          4,340           0           0           3,336           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              4,340           0           0           3,336           0           0.000      17.24     0.00

 CUMULATIVE        17,530           0           0
 ULTIMATE          21,870           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           15,295           0             0            0        15,295         662           0        14,633
 2003           14,147           0             0            0        14,147         613           0        13,534
 2004           13,087           0             0            0        13,087         566           0        12,521
 2005           12,105           0             0            0        12,105         525           0        11,580
 2006            2,881           0             0            0         2,881         124           0         2,757
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        57,515           0             0            0        57,515       2,490           0        55,025
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          57,515           0             0            0        57,515       2,490           0        55,025






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         10,918           0           0           0        10,918          3,715         3,715         3,545
 2003         10,918           0           0           0        10,918          2,616         6,331         2,261
 2004         10,918           0           0           0        10,918          1,603         7,934         1,257
 2005         10,918           0           0           0        10,918            662         8,596           472
 2006          2,729           0           0           0         2,729             28         8,624            19
 2007              0           0           0           0             0              0         8,624             0
 2008              0           0           0           0             0              0         8,624             0
 2009              0           0           0           0             0              0         8,624             0
 2010              0           0           0           0             0              0         8,624             0
 2011              0           0           0           0             0              0         8,624             0
 2012              0           0           0           0             0              0         8,624             0
 2013              0           0           0           0             0              0         8,624             0
 2014              0           0           0           0             0              0         8,624             0
 2015              0           0           0           0             0              0         8,624             0
 2016              0           0           0           0             0              0         8,624             0

 SUBTOT       46,401           0           0           0        46,401          8,624                       7,554
 REMAIN            0           0           0           0             0              0         8,624             0
 TOTAL        46,401           0           0           0        46,401          8,624                       7,554

   LIFE OF EVALUATION IS 4.25 YEARS.
   FINAL PRODUCTION RATE: 72 BBLS/MO




                                 TENGASCO, INC.                        TABLE 169
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WEBSTER FIELD, ROOKS COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   33-T8S-R19W                                             PROVED
     CERROW-CERROW -A- #1   (ARBUCKLE)                                                 PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        22,525
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        19,806
 REMARKS -                                                                                 15.00% -        17,587
                                                                                           20.00% -        15,757
                                                                                           25.00% -        14,233





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,229           0           0           1,075           0           0.000      17.24     0.00
 2003     1         1,173           0           0           1,027           0           0.000      17.24     0.00
 2004     1         1,120           0           0             980           0           0.000      17.24     0.00
 2005     1         1,071           0           0             937           0           0.000      17.24     0.00
 2006     1         1,022           0           0             894           0           0.000      17.24     0.00
 2007     1           975           0           0             854           0           0.000      17.24     0.00
 2008     1           933           0           0             815           0           0.000      17.24     0.00
 2009     1           890           0           0             779           0           0.000      17.24     0.00
 2010     1           850           0           0             744           0           0.000      17.24     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          9,263           0           0           8,105           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              9,263           0           0           8,105           0           0.000      17.24     0.00

 CUMULATIVE        72,462           0           0
 ULTIMATE          81,725           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           18,534           0             0            0        18,534         803           0        17,731
 2003           17,699           0             0            0        17,699         766           0        16,933
 2004           16,904           0             0            0        16,904         732           0        16,172
 2005           16,142           0             0            0        16,142         699           0        15,443
 2006           15,416           0             0            0        15,416         667           0        14,749
 2007           14,723           0             0            0        14,723         638           0        14,085
 2008           14,060           0             0            0        14,060         609           0        13,451
 2009           13,427           0             0            0        13,427         581           0        12,846
 2010           12,823           0             0            0        12,823         555           0        12,268
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       139,728           0             0            0       139,728       6,050           0       133,678
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         139,728           0             0            0       139,728       6,050           0       133,678






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         11,976           0           0           0        11,976          5,755         5,755         5,484
 2003         11,976           0           0           0        11,976          4,957        10,712         4,277
 2004         11,976           0           0           0        11,976          4,196        14,908         3,277
 2005         11,976           0           0           0        11,976          3,467        18,375         2,452
 2006         11,976           0           0           0        11,976          2,773        21,148         1,776
 2007         11,976           0           0           0        11,976          2,109        23,257         1,223
 2008         11,976           0           0           0        11,976          1,475        24,732           775
 2009         11,976           0           0           0        11,976            870        25,602           415
 2010         11,976           0           0           0        11,976            292        25,894           127
 2011              0           0           0           0             0              0        25,894             0
 2012              0           0           0           0             0              0        25,894             0
 2013              0           0           0           0             0              0        25,894             0
 2014              0           0           0           0             0              0        25,894             0
 2015              0           0           0           0             0              0        25,894             0
 2016              0           0           0           0             0              0        25,894             0

 SUBTOT      107,784           0           0           0       107,784         25,894                      19,806
 REMAIN            0           0           0           0             0              0        25,894             0
 TOTAL       107,784           0           0           0       107,784         25,894                      19,806

   LIFE OF EVALUATION IS 9.00 YEARS.
   FINAL PRODUCTION RATE: 69 BBLS/MO




                                 TENGASCO, INC.                       TABLE 170
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WEBSTER FIELD, ROOKS COUNTY, KANSAS                                                   OIL LEASE
   TENGASCO, INC. - OPERATOR   33-T8S-R19W                                             PROVED
     LOWRY #1   (ARBUCKLE)                                                             PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE        19,405           0           0
 ULTIMATE          19,405           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO





                                 TENGASCO, INC.                        TABLE 171
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WERTH NORTH FIELD, ELLIS COUNTY, KANSAS                                               OIL LEASE
   TENGASCO, INC. - OPERATOR   34-T12S-R20W                                            PROVED
     SCHNELLER #1   (ABCK-LNSG)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.820313                         17.24                               5.00% -        46,077
 FINAL   -   1.000000  0.820313                         17.24                              10.00% -        39,809
 REMARKS -                                                                                 15.00% -        34,839
                                                                                           20.00% -        30,843
                                                                                           25.00% -        27,588





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         1,934           0           0           1,586           0           0.000      17.24     0.00
 2003     3         1,837           0           0           1,507           0           0.000      17.24     0.00
 2004     3         1,745           0           0           1,432           0           0.000      17.24     0.00
 2005     3         1,658           0           0           1,360           0           0.000      17.24     0.00
 2006     3         1,575           0           0           1,292           0           0.000      17.24     0.00
 2007     3         1,496           0           0           1,227           0           0.000      17.24     0.00
 2008     3         1,422           0           0           1,166           0           0.000      17.24     0.00
 2009     3         1,350           0           0           1,108           0           0.000      17.24     0.00
 2010     3         1,283           0           0           1,052           0           0.000      17.24     0.00
 2011     3         1,218           0           0           1,000           0           0.000      17.24     0.00
 2012     3           683           0           0             560           0           0.000      17.24     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         16,201           0           0          13,290           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             16,201           0           0          13,290           0           0.000      17.24     0.00

 CUMULATIVE       170,239           0           0
 ULTIMATE         186,440           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           27,347           0             0            0        27,347       1,184           0        26,163
 2003           25,979           0             0            0        25,979       1,125           0        24,854
 2004           24,681           0             0            0        24,681       1,069           0        23,612
 2005           23,446           0             0            0        23,446       1,015           0        22,431
 2006           22,274           0             0            0        22,274         964           0        21,310
 2007           21,161           0             0            0        21,161         917           0        20,244
 2008           20,102           0             0            0        20,102         870           0        19,232
 2009           19,098           0             0            0        19,098         827           0        18,271
 2010           18,142           0             0            0        18,142         786           0        17,356
 2011           17,235           0             0            0        17,235         746           0        16,489
 2012            9,653           0             0            0         9,653         418           0         9,235
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       229,118           0             0            0       229,118       9,921           0       219,197
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         229,118           0             0            0       229,118       9,921           0       219,197






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,600           0           0           0        15,600         10,563        10,563        10,065
 2003         15,600           0           0           0        15,600          9,254        19,817         7,982
 2004         15,600           0           0           0        15,600          8,012        27,829         6,256
 2005         15,600           0           0           0        15,600          6,831        34,660         4,830
 2006         15,600           0           0           0        15,600          5,710        40,370         3,655
 2007         15,600           0           0           0        15,600          4,644        45,014         2,691
 2008         15,600           0           0           0        15,600          3,632        48,646         1,906
 2009         15,600           0           0           0        15,600          2,671        51,317         1,270
 2010         15,600           0           0           0        15,600          1,756        53,073           757
 2011         15,600           0           0           0        15,600            889        53,962           348
 2012          9,100           0           0           0         9,100            135        54,097            49
 2013              0           0           0           0             0              0        54,097             0
 2014              0           0           0           0             0              0        54,097             0
 2015              0           0           0           0             0              0        54,097             0
 2016              0           0           0           0             0              0        54,097             0

 SUBTOT      165,100           0           0           0       165,100         54,097                      39,809
 REMAIN            0           0           0           0             0              0        54,097             0
 TOTAL       165,100           0           0           0       165,100         54,097                      39,809

   LIFE OF EVALUATION IS 10.58 YEARS.
   FINAL PRODUCTION RATE: 96 BBLS/MO




                                 TENGASCO, INC.                        TABLE 172
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WESTHUSIN FIELD, ROOKS COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   18-T9S-R16W                                             PROVED
     DOUGHERTY EAST #1   (LANSING)                                                     PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.934400  0.766500                         17.24                               5.00% -         9,164
 FINAL   -   0.934400  0.766500                         17.24                              10.00% -         7,975
 REMARKS -                                                                                 15.00% -         7,020
                                                                                           20.00% -         6,243
                                                                                           25.00% -         5,604





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1           701           0           0             538           0           0.000      17.24     0.00
 2003     1           680           0           0             521           0           0.000      17.24     0.00
 2004     1           660           0           0             506           0           0.000      17.24     0.00
 2005     1           640           0           0             490           0           0.000      17.24     0.00
 2006     1           621           0           0             476           0           0.000      17.24     0.00
 2007     1           602           0           0             462           0           0.000      17.24     0.00
 2008     1           584           0           0             447           0           0.000      17.24     0.00
 2009     1           567           0           0             435           0           0.000      17.24     0.00
 2010     1           550           0           0             421           0           0.000      17.24     0.00
 2011     1           401           0           0             308           0           0.000      17.24     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          6,006           0           0           4,604           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              6,006           0           0           4,604           0           0.000      17.24     0.00

 CUMULATIVE        43,322           0           0
 ULTIMATE          49,328           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            9,267           0             0            0         9,267         401           0         8,866
 2003            8,988           0             0            0         8,988         389           0         8,599
 2004            8,719           0             0            0         8,719         378           0         8,341
 2005            8,458           0             0            0         8,458         366           0         8,092
 2006            8,203           0             0            0         8,203         355           0         7,848
 2007            7,958           0             0            0         7,958         345           0         7,613
 2008            7,719           0             0            0         7,719         334           0         7,385
 2009            7,487           0             0            0         7,487         324           0         7,163
 2010            7,263           0             0            0         7,263         315           0         6,948
 2011            5,303           0             0            0         5,303         230           0         5,073
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        79,365           0             0            0        79,365       3,437           0        75,928
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          79,365           0             0            0        79,365       3,437           0        75,928






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          6,694           0           0           0         6,694          2,172         2,172         2,069
 2003          6,694           0           0           0         6,694          1,905         4,077         1,644
 2004          6,694           0           0           0         6,694          1,647         5,724         1,286
 2005          6,694           0           0           0         6,694          1,398         7,122           988
 2006          6,694           0           0           0         6,694          1,154         8,276           739
 2007          6,694           0           0           0         6,694            919         9,195           533
 2008          6,694           0           0           0         6,694            691         9,886           362
 2009          6,694           0           0           0         6,694            469        10,355           224
 2010          6,694           0           0           0         6,694            254        10,609           109
 2011          5,020           0           0           0         5,020             53        10,662            21
 2012              0           0           0           0             0              0        10,662             0
 2013              0           0           0           0             0              0        10,662             0
 2014              0           0           0           0             0              0        10,662             0
 2015              0           0           0           0             0              0        10,662             0
 2016              0           0           0           0             0              0        10,662             0

 SUBTOT       65,266           0           0           0        65,266         10,662                       7,975
 REMAIN            0           0           0           0             0              0        10,662             0
 TOTAL        65,266           0           0           0        65,266         10,662                       7,975

   LIFE OF EVALUATION IS 9.75 YEARS.
   FINAL PRODUCTION RATE: 44 BBLS/MO






                                 TENGASCO, INC.                        TABLE 173
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WESTHUSIN FIELD, ROOKS COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   18-T9S-R16W                                             PROVED
     DOUGHERTY EAST #1 BP   (ARBUCKLE)                                                 BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.934400  0.766500                         17.24                               5.00% -        17,208
 FINAL   -   0.934400  0.766500                         17.24                              10.00% -        10,143
 REMARKS - OPERATING COSTS TO BE CARRIED BY PRODUCING RESERVES.                            15.00% -         5,988
                                                                                           20.00% -         3,538
                                                                                           25.00% -         2,093





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                 640           0           0             491           0           0.000      17.24     0.00
 2011                 960           0           0             735           0           0.000      17.24     0.00
 2012                 960           0           0             736           0           0.000      17.24     0.00
 2013                 640           0           0             491           0           0.000      17.24     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,200           0           0           2,453           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,200           0           0           2,453           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE           3,200           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010            8,457           0             0            0         8,457         366           0         8,091
 2011           12,686           0             0            0        12,686         549           0        12,137
 2012           12,686           0             0            0        12,686         550           0        12,136
 2013            8,457           0             0            0         8,457         366           0         8,091
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        42,286           0             0            0        42,286       1,831           0        40,455
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          42,286           0             0            0        42,286       1,831           0        40,455






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0      11,213           0        11,213         -3,122        -3,122        -1,456
 2011              0           0           0           0             0         12,137         9,015         4,714
 2012              0           0           0           0             0         12,136        21,151         4,268
 2013              0           0           0           0             0          8,091        29,242         2,617
 2014              0           0           0           0             0              0        29,242             0
 2015              0           0           0           0             0              0        29,242             0
 2016              0           0           0           0             0              0        29,242             0

 SUBTOT            0           0      11,213           0        11,213         29,242                      10,143
 REMAIN            0           0           0           0             0              0        29,242             0
 TOTAL             0           0      11,213           0        11,213         29,242                      10,143

   LIFE OF EVALUATION IS 11.67 YEARS.
   FINAL PRODUCTION RATE: 80 BBLS/MO





                                 TENGASCO, INC.                        TABLE 174
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 WESTHUSIN FIELD, ROOKS COUNTY, KANSAS                                                 OIL LEASE
   TENGASCO, INC. - OPERATOR   18-T9S-R16W                                             PROVED
     DOUGHERTY EAST #2 PUD   (ARBUCKLE)                                                UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.934400  0.766500                         17.24                               5.00% -        87,836
 FINAL   -   0.934400  0.766500                         17.24                              10.00% -        37,744
 REMARKS -                                                                                 15.00% -        11,236
                                                                                           20.00% -        -4,351
                                                                                           25.00% -       -14,233





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,533           0           0           1,941           0           0.000      17.24     0.00
 2003     1         1,774           0           0           1,361           0           0.000      17.24     0.00
 2004     1         1,724           0           0           1,321           0           0.000      17.24     0.00
 2005     1         1,675           0           0           1,284           0           0.000      17.24     0.00
 2006     1         1,628           0           0           1,247           0           0.000      17.24     0.00
 2007     1         1,581           0           0           1,212           0           0.000      17.24     0.00
 2008     1         1,536           0           0           1,178           0           0.000      17.24     0.00
 2009     1         1,493           0           0           1,144           0           0.000      17.24     0.00
 2010     1         1,450           0           0           1,112           0           0.000      17.24     0.00
 2011     1         1,410           0           0           1,080           0           0.000      17.24     0.00
 2012     1         1,369           0           0           1,049           0           0.000      17.24     0.00
 2013     1         1,330           0           0           1,020           0           0.000      17.24     0.00
 2014     1         1,293           0           0             991           0           0.000      17.24     0.00
 2015     1         1,255           0           0             962           0           0.000      17.24     0.00
 2016     1         1,221           0           0             936           0           0.000      17.24     0.00

 SUB-TOTAL         23,272           0           0          17,838           0           0.000      17.24     0.00
 REMAINDER         16,761           0           0          12,847           0           0.000      17.24     0.00
 TOTAL             40,033           0           0          30,685           0           0.000      17.24     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          40,033           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           33,471           0             0            0        33,471       1,449           0        32,022
 2003           23,447           0             0            0        23,447       1,016           0        22,431
 2004           22,781           0             0            0        22,781         986           0        21,795
 2005           22,135           0             0            0        22,135         958           0        21,177
 2006           21,506           0             0            0        21,506         932           0        20,574
 2007           20,895           0             0            0        20,895         904           0        19,991
 2008           20,302           0             0            0        20,302         879           0        19,423
 2009           19,726           0             0            0        19,726         855           0        18,871
 2010           19,166           0             0            0        19,166         829           0        18,337
 2011           18,621           0             0            0        18,621         807           0        17,814
 2012           18,093           0             0            0        18,093         783           0        17,310
 2013           17,580           0             0            0        17,580         761           0        16,819
 2014           17,080           0             0            0        17,080         740           0        16,340
 2015           16,595           0             0            0        16,595         719           0        15,876
 2016           16,125           0             0            0        16,125         698           0        15,427

 SUB-TOT       307,523           0             0            0       307,523      13,316           0       294,207
 REMAIN        221,491           0             0            0       221,491       9,590           0       211,901
 TOTAL         529,014           0             0            0       529,014      22,906           0       506,108






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          3,347           0      93,440           0        96,787        -64,765       -64,765       -61,714
 2003          6,694           0           0           0         6,694         15,737       -49,028        13,564
 2004          6,694           0           0           0         6,694         15,101       -33,927        11,782
 2005          6,694           0           0           0         6,694         14,483       -19,444        10,228
 2006          6,694           0           0           0         6,694         13,880        -5,564         8,874
 2007          6,694           0           0           0         6,694         13,297         7,733         7,695
 2008          6,694           0           0           0         6,694         12,729        20,462         6,668
 2009          6,694           0           0           0         6,694         12,177        32,639         5,774
 2010          6,694           0           0           0         6,694         11,643        44,282         4,998
 2011          6,694           0           0           0         6,694         11,120        55,402         4,321
 2012          6,694           0           0           0         6,694         10,616        66,018         3,734
 2013          6,694           0           0           0         6,694         10,125        76,143         3,224
 2014          6,695           0           0           0         6,695          9,645        85,788         2,780
 2015          6,694           0           0           0         6,694          9,182        94,970         2,396
 2016          6,694           0           0           0         6,694          8,733       103,703         2,062

 SUBTOT       97,064           0      93,440           0       190,504        103,703                      26,386
 REMAIN      119,262           0           0           0       119,262         92,639       196,342        11,358
 TOTAL       216,326           0      93,440           0       309,766        196,342                      37,744

   LIFE OF EVALUATION IS 32.82 YEARS.
   FINAL PRODUCTION RATE: 60 BBLS/MO





                                 TENGASCO, INC.                        TABLE 175
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 YOHE FIELD, ROOKS COUNTY, KANSAS                                                      OIL LEASE
   TENGASCO, INC. - OPERATOR   33-T8S-R18W                                             PROVED
     FINNESY #1   (LANSING)                                                            PRODUCING

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -        21,198
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -        19,075
 REMARKS -                                                                                 15.00% -        17,276
                                                                                           20.00% -        15,743
                                                                                           25.00% -        14,427





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     3         1,872           0           0           1,638           0           0.000      17.24     0.00
 2003     3         1,797           0           0           1,572           0           0.000      17.24     0.00
 2004     3         1,725           0           0           1,510           0           0.000      17.24     0.00
 2005     3         1,656           0           0           1,449           0           0.000      17.24     0.00
 2006     3         1,590           0           0           1,391           0           0.000      17.24     0.00
 2007     3         1,526           0           0           1,335           0           0.000      17.24     0.00
 2008     3         1,465           0           0           1,282           0           0.000      17.24     0.00
 2009     3           239           0           0             209           0           0.000      17.24     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         11,870           0           0          10,386           0           0.000      17.24     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             11,870           0           0          10,386           0           0.000      17.24     0.00

 CUMULATIVE        91,689           0           0
 ULTIMATE         103,559           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           28,236           0             0            0        28,236       1,223           0        27,013
 2003           27,107           0             0            0        27,107       1,173           0        25,934
 2004           26,023           0             0            0        26,023       1,127           0        24,896
 2005           24,981           0             0            0        24,981       1,082           0        23,899
 2006           23,983           0             0            0        23,983       1,038           0        22,945
 2007           23,023           0             0            0        23,023         997           0        22,026
 2008           22,102           0             0            0        22,102         957           0        21,145
 2009            3,597           0             0            0         3,597         156           0         3,441
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       179,052           0             0            0       179,052       7,753           0       171,299
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         179,052           0             0            0       179,052       7,753           0       171,299






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002         20,592           0           0           0        20,592          6,421         6,421         6,120
 2003         20,592           0           0           0        20,592          5,342        11,763         4,610
 2004         20,592           0           0           0        20,592          4,304        16,067         3,364
 2005         20,592           0           0           0        20,592          3,307        19,374         2,340
 2006         20,592           0           0           0        20,592          2,353        21,727         1,509
 2007         20,592           0           0           0        20,592          1,434        23,161           834
 2008         20,592           0           0           0        20,592            553        23,714           293
 2009          3,432           0           0           0         3,432              9        23,723             5
 2010              0           0           0           0             0              0        23,723             0
 2011              0           0           0           0             0              0        23,723             0
 2012              0           0           0           0             0              0        23,723             0
 2013              0           0           0           0             0              0        23,723             0
 2014              0           0           0           0             0              0        23,723             0
 2015              0           0           0           0             0              0        23,723             0
 2016              0           0           0           0             0              0        23,723             0

 SUBTOT      147,576           0           0           0       147,576         23,723                      19,075
 REMAIN            0           0           0           0             0              0        23,723             0
 TOTAL       147,576           0           0           0       147,576         23,723                      19,075

   LIFE OF EVALUATION IS 7.17 YEARS.
   FINAL PRODUCTION RATE: 119 BBLS/MO





                                 TENGASCO, INC.                        TABLE 176
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 YOHE FIELD, ROOKS COUNTY, KANSAS                                                      OIL LEASE
   TENGASCO, INC. - OPERATOR   33-T8S-R18W                                             PROVED
     MOSHER #1   (LANSING)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.875000                         17.24                               5.00% -       152,199
 FINAL   -   1.000000  0.875000                         17.24                              10.00% -       120,477
 REMARKS -                                                                                 15.00% -        98,773
                                                                                           20.00% -        83,280
                                                                                           25.00% -        71,804





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         2,502           0           0           2,189           0           0.000      17.24     0.00
 2003     2         2,371           0           0           2,075           0           0.000      17.24     0.00
 2004     2         2,249           0           0           1,967           0           0.000      17.24     0.00
 2005     2         2,131           0           0           1,865           0           0.000      17.24     0.00
 2006     2         2,020           0           0           1,768           0           0.000      17.24     0.00
 2007     2         1,916           0           0           1,676           0           0.000      17.24     0.00
 2008     2         1,816           0           0           1,589           0           0.000      17.24     0.00
 2009     2         1,721           0           0           1,506           0           0.000      17.24     0.00
 2010     2         1,632           0           0           1,428           0           0.000      17.24     0.00
 2011     2         1,547           0           0           1,354           0           0.000      17.24     0.00
 2012     2         1,467           0           0           1,283           0           0.000      17.24     0.00
 2013     2         1,390           0           0           1,217           0           0.000      17.24     0.00
 2014     2         1,318           0           0           1,153           0           0.000      17.24     0.00
 2015     2         1,250           0           0           1,094           0           0.000      17.24     0.00
 2016     2         1,184           0           0           1,036           0           0.000      17.24     0.00

 SUB-TOTAL         26,514           0           0          23,200           0           0.000      17.24     0.00
 REMAINDER          5,061           0           0           4,428           0           0.000      17.24     0.00
 TOTAL             31,575           0           0          27,628           0           0.000      17.24     0.00

 CUMULATIVE        67,971           0           0
 ULTIMATE          99,546           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           37,738           0             0            0        37,738       1,634           0        36,104
 2003           35,776           0             0            0        35,776       1,549           0        34,227
 2004           33,915           0             0            0        33,915       1,469           0        32,446
 2005           32,152           0             0            0        32,152       1,392           0        30,760
 2006           30,479           0             0            0        30,479       1,320           0        29,159
 2007           28,895           0             0            0        28,895       1,251           0        27,644
 2008           27,393           0             0            0        27,393       1,186           0        26,207
 2009           25,967           0             0            0        25,967       1,124           0        24,843
 2010           24,618           0             0            0        24,618       1,066           0        23,552
 2011           23,337           0             0            0        23,337       1,011           0        22,326
 2012           22,124           0             0            0        22,124         958           0        21,166
 2013           20,974           0             0            0        20,974         908           0        20,066
 2014           19,883           0             0            0        19,883         861           0        19,022
 2015           18,849           0             0            0        18,849         816           0        18,033
 2016           17,868           0             0            0        17,868         774           0        17,094

 SUB-TOT       399,968           0             0            0       399,968      17,319           0       382,649
 REMAIN         76,336           0             0            0        76,336       3,305           0        73,031
 TOTAL         476,304           0             0            0       476,304      20,624           0       455,680






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         12,744           0           0           0        12,744         23,360        23,360        22,250
 2003         12,744           0           0           0        12,744         21,483        44,843        18,522
 2004         12,744           0           0           0        12,744         19,702        64,545        15,377
 2005         12,744           0           0           0        12,744         18,016        82,561        12,729
 2006         12,744           0           0           0        12,744         16,415        98,976        10,499
 2007         12,744           0           0           0        12,744         14,900       113,876         8,627
 2008         12,744           0           0           0        12,744         13,463       127,339         7,056
 2009         12,744           0           0           0        12,744         12,099       139,438         5,740
 2010         12,744           0           0           0        12,744         10,808       150,246         4,643
 2011         12,744           0           0           0        12,744          9,582       159,828         3,725
 2012         12,744           0           0           0        12,744          8,422       168,250         2,965
 2013         12,744           0           0           0        12,744          7,322       175,572         2,333
 2014         12,744           0           0           0        12,744          6,278       181,850         1,811
 2015         12,744           0           0           0        12,744          5,289       187,139         1,382
 2016         12,744           0           0           0        12,744          4,350       191,489         1,028

 SUBTOT      191,160           0           0           0       191,160        191,489                     118,687
 REMAIN       63,720           0           0           0        63,720          9,311       200,800         1,790
 TOTAL       254,880           0           0           0       254,880        200,800                     120,477

   LIFE OF EVALUATION IS 20.00 YEARS.
   FINAL PRODUCTION RATE: 74 BBLS/MO







                                 TENGASCO, INC.                        TABLE 177
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


  KANSAS FIXED COSTS, VARIOUS COUNTIES, KANSAS                                         OIL LEASE
   TENGASCO, INC. - OPERATOR                                                           PROVED
     FIXED OPERATING COST                                                              PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                           
 INITIAL -   1.000000                                                                       5.00% -    -1,704,623
 FINAL   -   1.000000                                                                      10.00% -    -1,377,566
 REMARKS -                                                                                 15.00% -    -1,142,379
                                                                                           20.00% -      -968,008
                                                                                           25.00% -      -835,312





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                               
 2002        274,200           0           0           0       274,200       -274,200      -274,200      -260,988
 2003        219,200           0           0           0       219,200       -219,200      -493,400      -188,862
 2004        219,200           0           0           0       219,200       -219,200      -712,600      -170,960
 2005        219,200           0           0           0       219,200       -219,200      -931,800      -154,756
 2006        234,200           0           0           0       234,200       -234,200    -1,166,000      -149,672
 2007        234,200           0           0           0       234,200       -234,200    -1,400,200      -135,486
 2008        153,200           0           0           0       153,200       -153,200    -1,553,400       -80,226
 2009        153,200           0           0           0       153,200       -153,200    -1,706,600       -72,621
 2010        140,000           0           0           0       140,000       -140,000    -1,846,600       -60,074
 2011        105,000           0           0           0       105,000       -105,000    -1,951,600       -40,785
 2012         73,500           0           0           0        73,500        -73,500    -2,025,100       -25,843
 2013         45,000           0           0           0        45,000        -45,000    -2,070,100       -14,323
 2014         22,200           0           0           0        22,200        -22,200    -2,092,300        -6,396
 2015         12,000           0           0           0        12,000        -12,000    -2,104,300        -3,129
 2016         12,000           0           0           0        12,000        -12,000    -2,116,300        -2,833

 SUBTOT    2,116,300           0           0           0     2,116,300     -2,116,300                  -1,366,954
 REMAIN       60,000           0           0           0        60,000        -60,000    -2,176,300       -10,612
 TOTAL     2,176,300           0           0           0     2,176,300     -2,176,300                  -1,377,566

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO






                                 TENGASCO, INC.                        TABLE 178
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


  KANSAS FIXED COSTS, VARIOUS COUNTIES, KANSAS                                         OIL LEASE
   TENGASCO, INC. - OPERATOR                                                           PROVED
     FIXED OPERATING COST                                                              BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                              
 INITIAL -   1.000000                                                                       5.00% -      -177,805
 FINAL   -   1.000000                                                                      10.00% -      -146,009
 REMARKS -                                                                                 15.00% -      -121,583
                                                                                           20.00% -      -102,482
                                                                                           25.00% -       -87,297





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                 
 2002              0           0           0           0             0              0             0             0
 2003         40,000           0           0           0        40,000        -40,000       -40,000       -34,464
 2004         40,000           0           0           0        40,000        -40,000       -80,000       -31,197
 2005         40,000           0           0           0        40,000        -40,000      -120,000       -28,240
 2006         25,000           0           0           0        25,000        -25,000      -145,000       -15,977
 2007         25,000           0           0           0        25,000        -25,000      -170,000       -14,463
 2008         10,000           0           0           0        10,000        -10,000      -180,000        -5,236
 2009         10,000           0           0           0        10,000        -10,000      -190,000        -4,741
 2010         10,000           0           0           0        10,000        -10,000      -200,000        -4,291
 2011         10,000           0           0           0        10,000        -10,000      -210,000        -3,884
 2012         10,000           0           0           0        10,000        -10,000      -220,000        -3,516
 2013              0           0           0           0             0              0      -220,000             0
 2014              0           0           0           0             0              0      -220,000             0
 2015              0           0           0           0             0              0      -220,000             0
 2016              0           0           0           0             0              0      -220,000             0

 SUBTOT      220,000           0           0           0       220,000       -220,000                    -146,009
 REMAIN            0           0           0           0             0              0      -220,000             0
 TOTAL       220,000           0           0           0       220,000       -220,000                    -146,009

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO





                                 TENGASCO, INC.                        TABLE 179
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


  KANSAS FIXED COSTS, VARIOUS COUNTIES, KANSAS                                         OIL LEASE
   TENGASCO, INC. - OPERATOR                                                           PROVED
     FIXED OPERATING COST                                                              UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                                                                       5.00% -      -268,152
 FINAL   -   1.000000                                                                      10.00% -      -197,602
 REMARKS -                                                                                 15.00% -      -152,340
                                                                                           20.00% -      -121,706
                                                                                           25.00% -      -100,011





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                             DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002         15,000           0           0           0        15,000        -15,000       -15,000       -14,277
 2003         30,000           0           0           0        30,000        -30,000       -45,000       -25,848
 2004         30,000           0           0           0        30,000        -30,000       -75,000       -23,398
 2005         30,000           0           0           0        30,000        -30,000      -105,000       -21,180
 2006         30,000           0           0           0        30,000        -30,000      -135,000       -19,172
 2007         30,000           0           0           0        30,000        -30,000      -165,000       -17,356
 2008         30,000           0           0           0        30,000        -30,000      -195,000       -15,710
 2009         30,000           0           0           0        30,000        -30,000      -225,000       -14,221
 2010         20,000           0           0           0        20,000        -20,000      -245,000        -8,581
 2011         20,000           0           0           0        20,000        -20,000      -265,000        -7,769
 2012         20,000           0           0           0        20,000        -20,000      -285,000        -7,032
 2013         20,000           0           0           0        20,000        -20,000      -305,000        -6,366
 2014         10,000           0           0           0        10,000        -10,000      -315,000        -2,881
 2015         10,000           0           0           0        10,000        -10,000      -325,000        -2,608
 2016         10,000           0           0           0        10,000        -10,000      -335,000        -2,361

 SUBTOT      335,000           0           0           0       335,000       -335,000                    -188,760
 REMAIN       50,000           0           0           0        50,000        -50,000      -385,000        -8,842
 TOTAL       385,000           0           0           0       385,000       -385,000                    -197,602

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO





                                 TENGASCO, INC.                        TABLE 180
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


                                  STATE SUMMARY
                                                                                       TOTAL PROVED
     TENNESSEE PROPERTIES                                                              ALL CATEGORIES

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -    26,709,423
 FINAL   -                                                                                 10.00% -    19,302,590
 REMARKS -                                                                                 15.00% -    14,892,875
                                                                                           20.00% -    11,978,857
                                                                                           25.00% -     9,916,257





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002    44        42,631           0       1,363          26,681           0         973.829      16.25     2.35
 2003    60        45,107           0       3,226          30,442           0       2,435.551      16.25     2.35
 2004    67        28,923           0       2,838          19,926           0       2,183.125      16.25     2.35
 2005    66        20,470           0       2,441          14,428           0       1,866.598      16.25     2.35
 2006    62        15,870           0       1,885          11,180           0       1,436.990      16.25     2.36
 2007    61        13,166           0       1,548           9,149           0       1,167.009      16.25     2.36
 2008    58        11,332           0       1,395           7,836           0       1,038.101      16.25     2.35
 2009    58        10,408           0       1,250           7,167           0         931.115      16.25     2.35
 2010    56        10,612           0       1,183           7,245           0         880.610      16.25     2.36
 2011    56         9,268           0       1,260           6,320           0         955.277      16.25     2.35
 2012    54         6,952           0       1,124           4,794           0         852.279      16.25     2.36
 2013    50         5,929           0         991           4,057           0         755.263      16.25     2.35
 2014    49         5,190           0         904           3,548           0         691.719      16.25     2.36
 2015    49         4,003           0         834           2,867           0         638.702      16.25     2.35
 2016    47         3,014           0         768           2,293           0         587.090      16.25     2.36

 SUB-TOTAL        232,875           0      23,010         157,933           0      17,393.258      16.25     2.35
 REMAINDER         86,775           0       7,356          66,812           0       5,613.074      16.25     2.35
 TOTAL            319,650           0      30,366         224,745           0      23,006.332      16.25     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002          433,566           0     2,293,364            0     2,726,930      13,007      68,801     2,645,122
 2003          494,675           0     5,735,727            0     6,230,402      14,840     172,073     6,043,489
 2004          323,822           0     5,141,262            0     5,465,084       9,715     154,237     5,301,132
 2005          234,397           0     4,395,834            0     4,630,231       7,031     131,870     4,491,330
 2006          181,694           0     3,384,112            0     3,565,806       5,451     101,529     3,458,826
 2007          148,662           0     2,748,309            0     2,896,971       4,461      82,453     2,810,057
 2008          127,346           0     2,444,726            0     2,572,072       3,820      73,338     2,494,914
 2009          116,462           0     2,192,776            0     2,309,238       3,495      65,783     2,239,960
 2010          117,741           0     2,073,837            0     2,191,578       3,532      62,218     2,125,828
 2011          102,683           0     2,249,678            0     2,352,361       3,081      67,485     2,281,795
 2012           77,906           0     2,007,117            0     2,085,023       2,337      60,213     2,022,473
 2013           65,925           0     1,778,641            0     1,844,566       1,978      53,362     1,789,226
 2014           57,668           0     1,629,000            0     1,686,668       1,730      48,874     1,636,064
 2015           46,574           0     1,504,141            0     1,550,715       1,397      45,119     1,504,199
 2016           37,271           0     1,382,604            0     1,419,875       1,119      41,480     1,377,276

 SUB-TOT     2,566,392           0    40,961,128            0    43,527,520      76,994   1,228,835    42,221,691
 REMAIN      1,085,701           0    13,218,784            0    14,304,485      32,570     396,562    13,875,353
 TOTAL       3,652,093           0    54,179,912            0    57,832,005     109,564   1,625,397    56,097,044






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002        187,001           0   1,365,713           0     1,552,714      1,092,408     1,092,408     1,042,273
 2003        327,698           0   2,095,125           0     2,422,823      3,620,666     4,713,074     3,093,195
 2004        361,320           0   2,000,000           0     2,361,320      2,939,812     7,652,886     2,293,563
 2005        370,704           0      15,000           0       385,704      4,105,626    11,758,512     2,905,454
 2006        403,426           0           0           0       403,426      3,055,400    14,813,912     1,956,787
 2007        388,526           0           0           0       388,526      2,421,531    17,235,443     1,403,313
 2008        378,018           0      10,000           0       388,018      2,106,896    19,342,339     1,104,308
 2009        367,824           0      25,000           0       392,824      1,847,136    21,189,475       876,454
 2010        363,764           0      10,000           0       373,764      1,752,064    22,941,539       752,508
 2011        361,371           0      30,000           0       391,371      1,890,424    24,831,963       732,413
 2012        335,473           0           0           0       335,473      1,687,000    26,518,963       594,081
 2013        329,168           0           0           0       329,168      1,460,058    27,979,021       465,173
 2014        327,767           0           0           0       327,767      1,308,297    29,287,318       377,255
 2015        321,667           0           0           0       321,667      1,182,532    30,469,850       308,691
 2016        311,605           0           0           0       311,605      1,065,671    31,535,521       251,787

 SUBTOT    5,135,332           0   5,550,838           0    10,686,170     31,535,521                  18,157,255
 REMAIN    3,657,807           0     275,000           0     3,932,807      9,942,546    41,478,067     1,145,335
 TOTAL     8,793,139           0   5,825,838           0    14,618,977     41,478,067                  19,302,590

   LIFE OF SUMMARY IS 57.67 YEARS.





                                 TENGASCO, INC.                        TABLE 181
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROVED
     TENNESSEE PROPERTIES                                                              PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -     6,830,794
 FINAL   -                                                                                 10.00% -     5,367,529
 REMARKS -                                                                                 15.00% -     4,452,022
                                                                                           20.00% -     3,826,984
                                                                                           25.00% -     3,371,824





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002    29        23,756           0         823          15,734           0         601.978      16.25     2.35
 2003    26        20,729           0         550          13,716           0         396.006      16.25     2.35
 2004    26        18,094           0         466          11,957           0         336.282      16.25     2.35
 2005    26        15,399           0         413          10,256           0         296.393      16.25     2.36
 2006    23        13,178           0         346           8,825           0         255.397      16.25     2.36
 2007    22        11,506           0         312           7,696           0         229.377      16.25     2.35
 2008    20        10,045           0         272           6,710           0         203.099      16.25     2.35
 2009    19         8,767           0         251           5,851           0         188.555      16.25     2.35
 2010    18         7,655           0         234           5,101           0         174.957      16.25     2.35
 2011    18         6,682           0         219           4,449           0         163.959      16.25     2.35
 2012    16         5,183           0         206           3,594           0         153.857      16.25     2.35
 2013    16         4,520           0         187           3,132           0         143.063      16.25     2.35
 2014    15         3,941           0         172           2,729           0         134.088      16.25     2.35
 2015    15         2,896           0         166           2,141           0         127.398      16.25     2.35
 2016    14         2,034           0         156           1,649           0         121.051      16.25     2.35

 SUB-TOTAL        154,385           0       4,773         103,540           0       3,525.460      16.25     2.36
 REMAINDER          6,644           0       1,443           5,813           0       1,117.099      16.25     2.36
 TOTAL            161,029           0       6,216         109,353           0       4,642.559      16.25     2.36

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002          255,670           0     1,417,656            0     1,673,326       7,670      42,530     1,623,126
 2003          222,892           0       932,594            0     1,155,486       6,687      27,978     1,120,821
 2004          194,320           0       791,944            0       986,264       5,830      23,757       956,677
 2005          166,627           0       698,007            0       864,634       4,998      20,941       838,695
 2006          143,422           0       601,459            0       744,881       4,303      18,044       722,534
 2007          125,052           0       540,185            0       665,237       3,752      16,206       645,279
 2008          109,039           0       478,302            0       587,341       3,270      14,348       569,723
 2009           95,077           0       444,044            0       539,121       2,854      13,322       522,945
 2010           82,904           0       412,024            0       494,928       2,487      12,360       480,081
 2011           72,292           0       386,123            0       458,415       2,169      11,583       444,663
 2012           58,405           0       362,336            0       420,741       1,752      10,869       408,120
 2013           50,894           0       336,914            0       387,808       1,527      10,109       376,172
 2014           44,349           0       315,776            0       360,125       1,330       9,475       349,320
 2015           34,774           0       300,024            0       334,798       1,043       8,998       324,757
 2016           26,815           0       285,075            0       311,890         805       8,553       302,532

 SUB-TOT     1,682,532           0     8,302,463            0     9,984,995      50,477     249,073     9,685,445
 REMAIN         94,464           0     2,630,768            0     2,725,232       2,834      78,924     2,643,474
 TOTAL       1,776,996           0    10,933,231            0    12,710,227      53,311     327,997    12,328,919






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002        152,537           0           0           0       152,537      1,470,589     1,470,589     1,405,380
 2003        140,040           0           0           0       140,040        980,781     2,451,370       846,524
 2004        140,040           0           0           0       140,040        816,637     3,268,007       637,758
 2005        133,534           0           0           0       133,534        705,161     3,973,168       498,420
 2006        140,459           0           0           0       140,459        582,075     4,555,243       372,419
 2007        132,757           0           0           0       132,757        512,522     5,067,765       296,841
 2008        121,650           0           0           0       121,650        448,073     5,515,838       234,863
 2009        118,955           0           0           0       118,955        403,990     5,919,828       191,666
 2010        114,000           0           0           0       114,000        366,081     6,285,909       157,206
 2011        110,400           0           0           0       110,400        334,263     6,620,172       129,931
 2012        102,000           0           0           0       102,000        306,120     6,926,292       107,713
 2013         99,799           0           0           0        99,799        276,373     7,202,665        88,054
 2014         98,400           0           0           0        98,400        250,920     7,453,585        72,344
 2015         94,400           0           0           0        94,400        230,357     7,683,942        60,118
 2016         90,800           0           0           0        90,800        211,732     7,895,674        50,021

 SUBTOT    1,789,771           0           0           0     1,789,771      7,895,674                   5,149,258
 REMAIN    1,083,307           0           0           0     1,083,307      1,560,167     9,455,841       218,271
 TOTAL     2,873,078           0           0           0     2,873,078      9,455,841                   5,367,529

   LIFE OF SUMMARY IS 42.25 YEARS.






                                 TENGASCO, INC.                        TABLE 182
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROVED
     TENNESSEE PROPERTIES                                                              SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -     1,179,599
 FINAL   -                                                                                 10.00% -       972,141
 REMARKS -                                                                                 15.00% -       830,287
                                                                                           20.00% -       725,557
                                                                                           25.00% -       644,118





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     7        14,676           0          74           7,815           0          41.314      16.25     2.35
 2003     9        11,203           0         191           6,532           0         112.801      16.25     2.35
 2004     7         4,560           0         148           3,074           0          91.236      16.25     2.35
 2005     6         2,142           0          79           1,855           0          43.807      16.25     2.35
 2006     4         1,782           0          66           1,559           0          37.533      16.25     2.35
 2007     4         1,515           0          59           1,326           0          34.398      16.25     2.36
 2008     4         1,287           0          55           1,126           0          31.893      16.25     2.36
 2009     4         1,095           0          50             958           0          29.801      16.25     2.36
 2010     4           930           0          49             814           0          28.002      16.25     2.35
 2011     4           791           0          38             692           0          23.864      16.25     2.35
 2012     3           178           0          30             156           0          19.401      16.25     2.35
 2013     2             0           0          28               0           0          18.432       0.00     2.36
 2014     2             0           0          27               0           0          17.510       0.00     2.35
 2015     2             0           0          25               0           0          16.634       0.00     2.36
 2016     2             0           0          20               0           0          13.832       0.00     2.35

 SUB-TOTAL         40,159           0         939          25,907           0         560.458      16.25     2.35
 REMAINDER              0           0         143               0           0         125.359       0.00     2.35
 TOTAL             40,159           0       1,082          25,907           0         685.817      16.25     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002          126,990           0        97,295            0       224,285       3,810       2,919       217,556
 2003          106,139           0       265,645            0       371,784       3,183       7,969       360,632
 2004           49,958           0       214,862            0       264,820       1,499       6,446       256,875
 2005           30,129           0       103,164            0       133,293         904       3,095       129,294
 2006           25,339           0        88,390            0       113,729         760       2,652       110,317
 2007           21,539           0        81,008            0       102,547         646       2,431        99,470
 2008           18,307           0        75,108            0        93,415         550       2,253        90,612
 2009           15,561           0        70,180            0        85,741         466       2,105        83,170
 2010           13,227           0        65,943            0        79,170         397       1,979        76,794
 2011           11,244           0        56,202            0        67,446         338       1,685        65,423
 2012            2,536           0        45,690            0        48,226          76       1,371        46,779
 2013                0           0        43,406            0        43,406           0       1,302        42,104
 2014                0           0        41,236            0        41,236           0       1,238        39,998
 2015                0           0        39,174            0        39,174           0       1,174        38,000
 2016                0           0        32,575            0        32,575           0         978        31,597

 SUB-TOT       420,969           0     1,319,878            0     1,740,847      12,629      39,597     1,688,621
 REMAIN              0           0       295,221            0       295,221           0       8,857       286,364
 TOTAL         420,969           0     1,615,099            0     2,036,068      12,629      48,454     1,974,985






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002         18,650           0           0           0        18,650        198,906       198,906       185,208
 2003         44,150           0           0           0        44,150        316,482       515,388       273,767
 2004         33,540           0           0           0        33,540        223,335       738,723       174,565
 2005         22,479           0           0           0        22,479        106,815       845,538        75,616
 2006         24,000           0           0           0        24,000         86,317       931,855        55,227
 2007         24,000           0           0           0        24,000         75,470     1,007,325        43,706
 2008         24,000           0           0           0        24,000         66,612     1,073,937        34,918
 2009         24,000           0           0           0        24,000         59,170     1,133,107        28,076
 2010         24,000           0           0           0        24,000         52,794     1,185,901        22,673
 2011         22,433           0           0           0        22,433         42,990     1,228,891        16,762
 2012         13,200           0           0           0        13,200         33,579     1,262,470        11,814
 2013         10,800           0           0           0        10,800         31,304     1,293,774         9,969
 2014         10,800           0           0           0        10,800         29,198     1,322,972         8,417
 2015         10,800           0           0           0        10,800         27,200     1,350,172         7,098
 2016          9,438           0           0           0         9,438         22,159     1,372,331         5,257

 SUBTOT      316,290           0           0           0       316,290      1,372,331                     953,073
 REMAIN      138,705           0           0           0       138,705        147,659     1,519,990        19,068
 TOTAL       454,995           0           0           0       454,995      1,519,990                     972,141

   LIFE OF SUMMARY IS 34.26 YEARS.





                                 TENGASCO, INC.                        TABLE 183
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROVED
     TENNESSEE PROPERTIES                                                              BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -     7,671,024
 FINAL   -                                                                                 10.00% -     5,226,461
 REMARKS -                                                                                 15.00% -     3,919,612
                                                                                           20.00% -     3,107,218
                                                                                           25.00% -     2,551,278





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     2         4,199           0          34           3,132           0          22.760      16.25     2.35
 2003     9        13,175           0         801          10,194           0         626.697      16.25     2.35
 2004    10         6,269           0         536           4,895           0         411.860      16.25     2.35
 2005    10         2,929           0         492           2,317           0         354.612      16.25     2.36
 2006    11           910           0         424             796           0         302.686      16.25     2.36
 2007    11           145           0         364             127           0         262.123      16.25     2.35
 2008    10             0           0         365               0           0         250.014       0.00     2.35
 2009    11           546           0         319             358           0         219.109      16.25     2.36
 2010    10         2,027           0         306           1,330           0         210.842      16.25     2.35
 2011    10         1,795           0         459           1,179           0         339.179      16.25     2.35
 2012    11         1,591           0         384           1,044           0         283.852      16.25     2.35
 2013     8         1,409           0         309             925           0         227.476      16.25     2.35
 2014     8         1,249           0         270             819           0         199.787      16.25     2.36
 2015     8         1,107           0         240             726           0         180.390      16.25     2.35
 2016     8           980           0         222             644           0         165.424      16.25     2.35

 SUB-TOTAL         38,331           0       5,525          28,486           0       4,056.811      16.25     2.35
 REMAINDER         80,131           0       3,238          60,999           0       2,463.345      16.25     2.35
 TOTAL            118,462           0       8,763          89,485           0       6,520.156      16.25     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002           50,906           0        53,600            0       104,506       1,527       1,608       101,371
 2003          165,644           0     1,475,874            0     1,641,518       4,970      44,276     1,592,272
 2004           79,544           0       969,931            0     1,049,475       2,386      29,097     1,017,992
 2005           37,641           0       835,112            0       872,753       1,129      25,053       846,571
 2006           12,933           0       712,825            0       725,758         388      21,385       703,985
 2007            2,071           0       617,298            0       619,369          63      18,521       600,785
 2008                0           0       588,784            0       588,784           0      17,661       571,123
 2009            5,824           0       516,000            0       521,824         175      15,482       506,167
 2010           21,610           0       496,535            0       518,145         648      14,897       502,600
 2011           19,147           0       798,764            0       817,911         574      23,961       793,376
 2012           16,965           0       668,474            0       685,439         509      20,056       664,874
 2013           15,031           0       535,706            0       550,737         451      16,071       534,215
 2014           13,319           0       470,499            0       483,818         400      14,115       469,303
 2015           11,800           0       424,815            0       436,615         354      12,745       423,516
 2016           10,456           0       389,576            0       400,032         314      11,687       388,031

 SUB-TOT       462,891           0     9,553,793            0    10,016,684      13,888     286,615     9,716,181
 REMAIN        991,237           0     5,801,178            0     6,792,415      29,736     174,034     6,588,645
 TOTAL       1,454,128           0    15,354,971            0    16,809,099      43,624     460,649    16,304,826






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          5,500           0     170,000           0       175,500        -74,129       -74,129       -77,739
 2003         65,400           0      60,000           0       125,400      1,466,872     1,392,743     1,271,391
 2004         72,000           0           0           0        72,000        945,992     2,338,735       739,942
 2005         75,950           0      15,000           0        90,950        755,621     3,094,356       533,923
 2006         74,400           0           0           0        74,400        629,585     3,723,941       402,974
 2007         67,200           0           0           0        67,200        533,585     4,257,526       309,043
 2008         67,800           0      10,000           0        77,800        493,323     4,750,849       258,323
 2009         60,301           0      25,000           0        85,301        420,866     5,171,715       199,885
 2010         61,196           0      10,000           0        71,196        431,404     5,603,119       185,338
 2011         63,970           0      30,000           0        93,970        699,406     6,302,525       269,370
 2012         55,705           0           0           0        55,705        609,169     6,911,694       214,818
 2013         54,000           0           0           0        54,000        480,215     7,391,909       153,052
 2014         54,000           0           0           0        54,000        415,303     7,807,212       119,782
 2015         54,000           0           0           0        54,000        369,516     8,176,728        96,456
 2016         54,000           0           0           0        54,000        334,031     8,510,759        78,920

 SUBTOT      885,422           0     320,000           0     1,205,422      8,510,759                   4,755,478
 REMAIN    1,311,558           0     275,000           0     1,586,558      5,002,087    13,512,846       470,983
 TOTAL     2,196,980           0     595,000           0     2,791,980     13,512,846                   5,226,461

   LIFE OF SUMMARY IS 57.67 YEARS.





                                 TENGASCO, INC.                        TABLE 184
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROVED
     TENNESSEE PROPERTIES                                                              UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -    11,028,006
 FINAL   -                                                                                 10.00% -     7,736,459
 REMARKS -                                                                                 15.00% -     5,690,954
                                                                                           20.00% -     4,319,098
                                                                                           25.00% -     3,349,037





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     6             0           0         432               0           0         307.777       0.00     2.36
 2003    16             0           0       1,684               0           0       1,300.047       0.00     2.35
 2004    24             0           0       1,688               0           0       1,343.747       0.00     2.35
 2005    24             0           0       1,457               0           0       1,171.786       0.00     2.35
 2006    24             0           0       1,049               0           0         841.375       0.00     2.35
 2007    24             0           0         813               0           0         641.110       0.00     2.35
 2008    24             0           0         703               0           0         553.094       0.00     2.35
 2009    24             0           0         630               0           0         493.651       0.00     2.35
 2010    24             0           0         594               0           0         466.809       0.00     2.36
 2011    24             0           0         544               0           0         428.275       0.00     2.36
 2012    24             0           0         504               0           0         395.168       0.00     2.36
 2013    24             0           0         467               0           0         366.292       0.00     2.35
 2014    24             0           0         435               0           0         340.334       0.00     2.35
 2015    24             0           0         403               0           0         314.279       0.00     2.35
 2016    23             0           0         370               0           0         286.784       0.00     2.36

 SUB-TOTAL              0           0      11,773               0           0       9,250.528       0.00     2.35
 REMAINDER              0           0       2,532               0           0       1,907.270       0.00     2.35
 TOTAL                  0           0      14,305               0           0      11,157.798       0.00     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0       724,813            0       724,813           0      21,744       703,069
 2003                0           0     3,061,614            0     3,061,614           0      91,850     2,969,764
 2004                0           0     3,164,525            0     3,164,525           0      94,937     3,069,588
 2005                0           0     2,759,551            0     2,759,551           0      82,781     2,676,770
 2006                0           0     1,981,438            0     1,981,438           0      59,448     1,921,990
 2007                0           0     1,509,818            0     1,509,818           0      45,295     1,464,523
 2008                0           0     1,302,532            0     1,302,532           0      39,076     1,263,456
 2009                0           0     1,162,552            0     1,162,552           0      34,874     1,127,678
 2010                0           0     1,099,335            0     1,099,335           0      32,982     1,066,353
 2011                0           0     1,008,589            0     1,008,589           0      30,256       978,333
 2012                0           0       930,617            0       930,617           0      27,917       902,700
 2013                0           0       862,615            0       862,615           0      25,880       836,735
 2014                0           0       801,489            0       801,489           0      24,046       777,443
 2015                0           0       740,128            0       740,128           0      22,202       717,926
 2016                0           0       675,378            0       675,378           0      20,262       655,116

 SUB-TOT             0           0    21,784,994            0    21,784,994           0     653,550    21,131,444
 REMAIN              0           0     4,491,617            0     4,491,617           0     134,747     4,356,870
 TOTAL               0           0    26,276,611            0    26,276,611           0     788,297    25,488,314






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002         10,314           0   1,195,713           0     1,206,027       -502,958      -502,958      -470,576
 2003         78,108           0   2,035,125           0     2,113,233        856,531       353,573       701,513
 2004        115,740           0   2,000,000           0     2,115,740        953,848     1,307,421       741,298
 2005        138,741           0           0           0       138,741      2,538,029     3,845,450     1,797,495
 2006        164,567           0           0           0       164,567      1,757,423     5,602,873     1,126,167
 2007        164,569           0           0           0       164,569      1,299,954     6,902,827       753,723
 2008        164,568           0           0           0       164,568      1,098,888     8,001,715       576,204
 2009        164,568           0           0           0       164,568        963,110     8,964,825       456,827
 2010        164,568           0           0           0       164,568        901,785     9,866,610       387,291
 2011        164,568           0           0           0       164,568        813,765    10,680,375       316,350
 2012        164,568           0           0           0       164,568        738,132    11,418,507       259,736
 2013        164,569           0           0           0       164,569        672,166    12,090,673       214,098
 2014        164,567           0           0           0       164,567        612,876    12,703,549       176,712
 2015        162,467           0           0           0       162,467        555,459    13,259,008       145,019
 2016        157,367           0           0           0       157,367        497,749    13,756,757       117,589

 SUBTOT    2,143,849           0   5,230,838           0     7,374,687     13,756,757                   7,299,446
 REMAIN    1,124,237           0           0           0     1,124,237      3,232,633    16,989,390       437,013
 TOTAL     3,268,086           0   5,230,838           0     8,498,924     16,989,390                   7,736,459

   LIFE OF SUMMARY IS 46.72 YEARS.






                                 TENGASCO, INC.                        TABLE 185
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       TOTAL PROBABLE
     TENNESSEE PROPERTIES                                                              BEHIND PIPE & UNDEV.


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -       587,912
 FINAL   -                                                                                 10.00% -       370,099
 REMARKS -                                                                                 15.00% -       235,651
                                                                                           20.00% -       150,167
                                                                                           25.00% -        94,638





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          27               0           0           1.661       0.00     2.35
 2004     1             0           0          22               0           0           1.375       0.00     2.35
 2005     3             0           0         138               0           0         105.203       0.00     2.35
 2006     5             0           0         198               0           0         159.614       0.00     2.35
 2007     5             0           0         144               0           0         112.850       0.00     2.36
 2008     5             0           0         102               0           0          76.924       0.00     2.35
 2009     5             0           0          74               0           0          54.948       0.00     2.36
 2010     5             0           0          63               0           0          44.627       0.00     2.35
 2011     5             0           0          60               0           0          42.227       0.00     2.35
 2012     5             0           0          56               0           0          39.752       0.00     2.36
 2013     5             0           0          74               0           0          37.497       0.00     2.35
 2014     5             0           0          64               0           0          34.106       0.00     2.35
 2015     5             0           0          53               0           0          30.761       0.00     2.36
 2016     5             0           0          45               0           0          28.035       0.00     2.35

 SUB-TOTAL              0           0       1,120               0           0         769.580       0.00     2.35
 REMAINDER              0           0         158               0           0         138.208       0.00     2.36
 TOTAL                  0           0       1,278               0           0         907.788       0.00     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0         3,912            0         3,912           0         117         3,795
 2004                0           0         3,239            0         3,239           0          98         3,141
 2005                0           0       247,752            0       247,752           0       7,432       240,320
 2006                0           0       375,890            0       375,890           0      11,276       364,614
 2007                0           0       265,762            0       265,762           0       7,973       257,789
 2008                0           0       181,157            0       181,157           0       5,436       175,721
 2009                0           0       129,402            0       129,402           0       3,882       125,520
 2010                0           0       105,097            0       105,097           0       3,153       101,944
 2011                0           0        99,445            0        99,445           0       2,983        96,462
 2012                0           0        93,615            0        93,615           0       2,809        90,806
 2013                0           0        88,306            0        88,306           0       2,649        85,657
 2014                0           0        80,320            0        80,320           0       2,409        77,911
 2015                0           0        72,443            0        72,443           0       2,174        70,269
 2016                0           0        66,024            0        66,024           0       1,981        64,043

 SUB-TOT             0           0     1,812,364            0     1,812,364           0      54,372     1,757,992
 REMAIN              0           0       325,479            0       325,479           0       9,763       315,716
 TOTAL               0           0     2,137,843            0     2,137,843           0      64,135     2,073,708






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0          3,795         3,795         3,276
 2004              0           0           0           0             0          3,141         6,936         2,453
 2005         10,000           0     400,000           0       410,000       -169,680      -162,744      -128,610
 2006         26,400           0     200,000           0       226,400        138,214       -24,530        84,616
 2007         28,800           0           0           0        28,800        228,989       204,459       132,975
 2008         28,800           0           0           0        28,800        146,921       351,380        77,208
 2009         28,800           0           0           0        28,800         96,720       448,100        46,003
 2010         28,800           0           0           0        28,800         73,144       521,244        31,396
 2011         28,800           0           0           0        28,800         67,662       588,906        26,270
 2012         28,800           0           0           0        28,800         62,006       650,912        21,828
 2013         28,800           0           0           0        28,800         56,857       707,769        18,101
 2014         28,800           0           0           0        28,800         49,111       756,880        14,171
 2015         28,800           0           0           0        28,800         41,469       798,349        10,829
 2016         28,800           0           0           0        28,800         35,243       833,592         8,332

 SUBTOT      324,400           0     600,000           0       924,400        833,592                     348,848
 REMAIN      194,704           0           0           0       194,704        121,012       954,604        21,251
 TOTAL       519,104           0     600,000           0     1,119,104        954,604                     370,099

   LIFE OF SUMMARY IS 22.26 YEARS.





                                 TENGASCO, INC.                        TABLE 186
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROBABLE
     TENNESSEE PROPERTIES                                                              BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -        25,467
 FINAL   -                                                                                 10.00% -        18,394
 REMARKS -                                                                                 15.00% -        13,859
                                                                                           20.00% -        10,833
                                                                                           25.00% -         8,730





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          27               0           0           1.661       0.00     2.35
 2004     1             0           0          22               0           0           1.375       0.00     2.35
 2005     1             0           0          19               0           0           1.200       0.00     2.35
 2006     1             0           0          17               0           0           1.078       0.00     2.35
 2007     1             0           0          16               0           0           0.987       0.00     2.35
 2008     1             0           0          14               0           0           0.916       0.00     2.36
 2009     1             0           0          14               0           0           0.859       0.00     2.35
 2010     1             0           0          13               0           0           0.802       0.00     2.35
 2011     1             0           0          12               0           0           0.750       0.00     2.35
 2012     1             0           0          11               0           0           0.712       0.00     2.35
 2013     1             0           0          34               0           0           2.057       0.00     2.36
 2014     1             0           0          28               0           0           1.782       0.00     2.36
 2015     1             0           0          19               0           0           1.153       0.00     2.36
 2016     1             0           0          13               0           0           0.810       0.00     2.35

 SUB-TOTAL              0           0         259               0           0          16.142       0.00     2.36
 REMAINDER              0           0           0               0           0           0.022       0.00     2.35
 TOTAL                  0           0         259               0           0          16.164       0.00     2.36

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0         3,912            0         3,912           0         117         3,795
 2004                0           0         3,239            0         3,239           0          98         3,141
 2005                0           0         2,825            0         2,825           0          84         2,741
 2006                0           0         2,538            0         2,538           0          76         2,462
 2007                0           0         2,325            0         2,325           0          70         2,255
 2008                0           0         2,158            0         2,158           0          65         2,093
 2009                0           0         2,022            0         2,022           0          61         1,961
 2010                0           0         1,889            0         1,889           0          56         1,833
 2011                0           0         1,766            0         1,766           0          53         1,713
 2012                0           0         1,677            0         1,677           0          51         1,626
 2013                0           0         4,844            0         4,844           0         145         4,699
 2014                0           0         4,196            0         4,196           0         126         4,070
 2015                0           0         2,717            0         2,717           0          82         2,635
 2016                0           0         1,908            0         1,908           0          57         1,851

 SUB-TOT             0           0        38,016            0        38,016           0       1,141        36,875
 REMAIN              0           0            51            0            51           0           1            50
 TOTAL               0           0        38,067            0        38,067           0       1,142        36,925






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0          3,795         3,795         3,276
 2004              0           0           0           0             0          3,141         6,936         2,453
 2005              0           0           0           0             0          2,741         9,677         1,937
 2006              0           0           0           0             0          2,462        12,139         1,574
 2007              0           0           0           0             0          2,255        14,394         1,306
 2008              0           0           0           0             0          2,093        16,487         1,097
 2009              0           0           0           0             0          1,961        18,448           930
 2010              0           0           0           0             0          1,833        20,281           787
 2011              0           0           0           0             0          1,713        21,994           665
 2012              0           0           0           0             0          1,626        23,620           572
 2013              0           0           0           0             0          4,699        28,319         1,481
 2014              0           0           0           0             0          4,070        32,389         1,177
 2015              0           0           0           0             0          2,635        35,024           690
 2016              0           0           0           0             0          1,851        36,875           438

 SUBTOT            0           0           0           0             0         36,875                      18,383
 REMAIN            0           0           0           0             0             50        36,925            11
 TOTAL             0           0           0           0             0         36,925                      18,394

   LIFE OF SUMMARY IS 15.03 YEARS.






                                 TENGASCO, INC.                        TABLE 187
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       PROBABLE
     TENNESSEE PROPERTIES                                                              UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -       562,445
 FINAL   -                                                                                 10.00% -       351,705
 REMARKS -                                                                                 15.00% -       221,792
                                                                                           20.00% -       139,334
                                                                                           25.00% -        85,908





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005     2             0           0         119               0           0         104.003       0.00     2.35
 2006     4             0           0         181               0           0         158.536       0.00     2.35
 2007     4             0           0         128               0           0         111.863       0.00     2.36
 2008     4             0           0          88               0           0          76.008       0.00     2.35
 2009     4             0           0          60               0           0          54.089       0.00     2.36
 2010     4             0           0          50               0           0          43.825       0.00     2.35
 2011     4             0           0          48               0           0          41.477       0.00     2.35
 2012     4             0           0          45               0           0          39.040       0.00     2.36
 2013     4             0           0          40               0           0          35.440       0.00     2.35
 2014     4             0           0          36               0           0          32.324       0.00     2.35
 2015     4             0           0          34               0           0          29.608       0.00     2.36
 2016     4             0           0          32               0           0          27.225       0.00     2.35

 SUB-TOTAL              0           0         861               0           0         753.438       0.00     2.35
 REMAINDER              0           0         158               0           0         138.187       0.00     2.36
 TOTAL                  0           0       1,019               0           0         891.625       0.00     2.35

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0       244,927            0       244,927           0       7,348       237,579
 2006                0           0       373,352            0       373,352           0      11,200       362,152
 2007                0           0       263,437            0       263,437           0       7,903       255,534
 2008                0           0       178,999            0       178,999           0       5,371       173,628
 2009                0           0       127,380            0       127,380           0       3,821       123,559
 2010                0           0       103,208            0       103,208           0       3,097       100,111
 2011                0           0        97,679            0        97,679           0       2,930        94,749
 2012                0           0        91,938            0        91,938           0       2,758        89,180
 2013                0           0        83,462            0        83,462           0       2,504        80,958
 2014                0           0        76,124            0        76,124           0       2,283        73,841
 2015                0           0        69,726            0        69,726           0       2,092        67,634
 2016                0           0        64,116            0        64,116           0       1,924        62,192

 SUB-TOT             0           0     1,774,348            0     1,774,348           0      53,231     1,721,117
 REMAIN              0           0       325,428            0       325,428           0       9,762       315,666
 TOTAL               0           0     2,099,776            0     2,099,776           0      62,993     2,036,783






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005         10,000           0     400,000           0       410,000       -172,421      -172,421      -130,547
 2006         26,400           0     200,000           0       226,400        135,752       -36,669        83,042
 2007         28,800           0           0           0        28,800        226,734       190,065       131,669
 2008         28,800           0           0           0        28,800        144,828       334,893        76,111
 2009         28,800           0           0           0        28,800         94,759       429,652        45,073
 2010         28,800           0           0           0        28,800         71,311       500,963        30,609
 2011         28,800           0           0           0        28,800         65,949       566,912        25,605
 2012         28,800           0           0           0        28,800         60,380       627,292        21,256
 2013         28,800           0           0           0        28,800         52,158       679,450        16,620
 2014         28,800           0           0           0        28,800         45,041       724,491        12,994
 2015         28,800           0           0           0        28,800         38,834       763,325        10,139
 2016         28,800           0           0           0        28,800         33,392       796,717         7,894

 SUBTOT      324,400           0     600,000           0       924,400        796,717                     330,465
 REMAIN      194,704           0           0           0       194,704        120,962       917,679        21,240
 TOTAL       519,104           0     600,000           0     1,119,104        917,679                     351,705

   LIFE OF SUMMARY IS 22.26 YEARS.





                                 TENGASCO, INC.                        TABLE 188
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 STATE SUMMARY
                                                                                       TOTAL POSSIBLE
     TENNESSEE PROPERTIES                                                              UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -                                                                                  5.00% -             0
 FINAL   -                                                                                 10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE
 ULTIMATE





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF SUMMARY IS 0.00 YEARS.





                                 TENGASCO, INC.                        TABLE 189
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     ANITA COLSON #1   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        41,860
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        41,025
 REMARKS -                                                                                 15.00% -        40,215
                                                                                           20.00% -        39,431
                                                                                           25.00% -        38,670





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          24               0           0          20.890       0.00     2.36
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          24               0           0          20.890       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          24               0           0          20.890       0.00     2.36

 CUMULATIVE             0           0           8
 ULTIMATE               0           0          32





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        49,195            0        49,195           0       1,476        47,719
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        49,195            0        49,195           0       1,476        47,719
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        49,195            0        49,195           0       1,476        47,719






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          4,997           0           0           0         4,997         42,722        42,722        41,025
 2003              0           0           0           0             0              0        42,722             0
 2004              0           0           0           0             0              0        42,722             0
 2005              0           0           0           0             0              0        42,722             0
 2006              0           0           0           0             0              0        42,722             0
 2007              0           0           0           0             0              0        42,722             0
 2008              0           0           0           0             0              0        42,722             0
 2009              0           0           0           0             0              0        42,722             0
 2010              0           0           0           0             0              0        42,722             0
 2011              0           0           0           0             0              0        42,722             0
 2012              0           0           0           0             0              0        42,722             0
 2013              0           0           0           0             0              0        42,722             0
 2014              0           0           0           0             0              0        42,722             0
 2015              0           0           0           0             0              0        42,722             0
 2016              0           0           0           0             0              0        42,722             0

 SUBTOT        4,997           0           0           0         4,997         42,722                      41,025
 REMAIN            0           0           0           0             0              0        42,722             0
 TOTAL         4,997           0           0           0         4,997         42,722                      41,025

   LIFE OF EVALUATION IS 0.83 YEARS.
   FINAL PRODUCTION RATE: 2.3 MMCF/MO





                                 TENGASCO, INC.                        TABLE 190
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     ANITA COLSON #1 BP   (STONES RIVER)                                               BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000  0.875000            0.875000     16.25                   2.35        5.00% -       189,557
 FINAL   -   1.000000  0.875000            0.875000     16.25                   2.35       10.00% -       171,950
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -       156,300
                                                                                           20.00% -       142,353
                                                                                           25.00% -       129,893





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
2002               1,724           0           4           1,508           0           3.312      16.25     2.35
 2003     1         7,074           0          15           6,190           0          13.592      16.25     2.35
 2004     1         3,570           0           8           3,124           0           6.860      16.25     2.36
 2005     1         1,802           0           4           1,577           0           3.463      16.25     2.35
 2006     1           910           0           2             796           0           1.748      16.25     2.35
 2007     1           145           0           0             127           0           0.280      16.25     2.35
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         15,225           0          33          13,322           0          29.255      16.25     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             15,225           0          33          13,322           0          29.255      16.25     2.35

 CUMULATIVE             0           0           0
 ULTIMATE          15,225           0          33





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           24,512           0         7,801            0        32,313         735         234        31,344
 2003          100,579           0        32,009            0       132,588       3,018         960       128,610
 2004           50,767           0        16,157            0        66,924       1,523         485        64,916
 2005           25,624           0         8,155            0        33,779         768         245        32,766
 2006           12,933           0         4,116            0        17,049         388         123        16,538
 2007            2,071           0           659            0         2,730          63          20         2,647
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       216,486           0        68,897            0       285,383       6,495       2,067       276,821
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         216,486           0        68,897            0       285,383       6,495       2,067       276,821






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          1,600           0      25,000           0        26,600          4,744         4,744         4,239
 2003          9,600           0           0           0         9,600        119,010       123,754       103,159
 2004          9,600           0           0           0         9,600         55,316       179,070        43,425
 2005          9,600           0           0           0         9,600         23,166       202,236        16,485
 2006          9,600           0           0           0         9,600          6,938       209,174         4,493
 2007          2,400           0           0           0         2,400            247       209,421           149
 2008              0           0           0           0             0              0       209,421             0
 2009              0           0           0           0             0              0       209,421             0
 2010              0           0           0           0             0              0       209,421             0
 2011              0           0           0           0             0              0       209,421             0
 2012              0           0           0           0             0              0       209,421             0
 2013              0           0           0           0             0              0       209,421             0
 2014              0           0           0           0             0              0       209,421             0
 2015              0           0           0           0             0              0       209,421             0
 2016              0           0           0           0             0              0       209,421             0

 SUBTOT       42,400           0      25,000           0        67,400        209,421                     171,950
 REMAIN            0           0           0           0             0              0       209,421             0
 TOTAL        42,400           0      25,000           0        67,400        209,421                     171,950

   LIFE OF EVALUATION IS 5.25 YEARS.
   FINAL PRODUCTION RATE: 46 BBLS/MO





                                 TENGASCO, INC.                        TABLE 191
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     ANITA COLSON #2   (KNOX)                                                          UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -     1,263,596
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       878,419
 REMARKS - COSTS INCLUDED TO DEEPEN WELL TO THE KNOX.                                      15.00% -       660,428
                                                                                           20.00% -       521,425
                                                                                           25.00% -       425,080





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          34               0           0          30.068       0.00     2.36
 2003     1             0           0         114               0           0          99.486       0.00     2.35
 2004     1             0           0          90               0           0          78.851       0.00     2.36
 2005     1             0           0          76               0           0          66.428       0.00     2.36
 2006     1             0           0          66               0           0          57.978       0.00     2.35
 2007     1             0           0          60               0           0          51.792       0.00     2.35
 2008     1             0           0          53               0           0          47.031       0.00     2.35
 2009     1             0           0          50               0           0          43.233       0.00     2.36
 2010     1             0           0          46               0           0          40.120       0.00     2.35
 2011     1             0           0          42               0           0          37.513       0.00     2.36
 2012     1             0           0          41               0           0          35.293       0.00     2.35
 2013     1             0           0          38               0           0          33.374       0.00     2.35
 2014     1             0           0          36               0           0          31.675       0.00     2.35
 2015     1             0           0          34               0           0          30.090       0.00     2.36
 2016     1             0           0          33               0           0          28.586       0.00     2.36

 SUB-TOTAL              0           0         813               0           0         711.518       0.00     2.35
 REMAINDER              0           0         387               0           0         338.485       0.00     2.36
 TOTAL                  0           0       1,200               0           0       1,050.003       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0       1,200





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        70,809            0        70,809           0       2,124        68,685
 2003                0           0       234,289            0       234,289           0       7,029       227,260
 2004                0           0       185,693            0       185,693           0       5,571       180,122
 2005                0           0       156,437            0       156,437           0       4,693       151,744
 2006                0           0       136,539            0       136,539           0       4,096       132,443
 2007                0           0       121,969            0       121,969           0       3,659       118,310
 2008                0           0       110,758            0       110,758           0       3,323       107,435
 2009                0           0       101,814            0       101,814           0       3,054        98,760
 2010                0           0        94,482            0        94,482           0       2,835        91,647
 2011                0           0        88,344            0        88,344           0       2,650        85,694
 2012                0           0        83,114            0        83,114           0       2,493        80,621
 2013                0           0        78,596            0        78,596           0       2,358        76,238
 2014                0           0        74,593            0        74,593           0       2,238        72,355
 2015                0           0        70,863            0        70,863           0       2,126        68,737
 2016                0           0        67,319            0        67,319           0       2,020        65,299

 SUB-TOT             0           0     1,675,619            0     1,675,619           0      50,269     1,625,350
 REMAIN              0           0       797,132            0       797,132           0      23,914       773,218
 TOTAL               0           0     2,472,751            0     2,472,751           0      74,183     2,398,568






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0     100,000           0       101,500        -32,815       -32,815       -30,828
 2003          6,000           0           0           0         6,000        221,260       188,445       191,082
 2004          6,000           0           0           0         6,000        174,122       362,567       136,028
 2005          6,000           0           0           0         6,000        145,744       508,311       103,028
 2006          7,200           0           0           0         7,200        125,243       633,554        80,126
 2007          7,200           0           0           0         7,200        111,110       744,664        64,336
 2008          7,200           0           0           0         7,200        100,235       844,899        52,531
 2009          7,200           0           0           0         7,200         91,560       936,459        43,433
 2010          7,200           0           0           0         7,200         84,447     1,020,906        36,259
 2011          7,200           0           0           0         7,200         78,494     1,099,400        30,507
 2012          7,200           0           0           0         7,200         73,421     1,172,821        25,829
 2013          7,200           0           0           0         7,200         69,038     1,241,859        21,984
 2014          7,200           0           0           0         7,200         65,155     1,307,014        18,780
 2015          7,200           0           0           0         7,200         61,537     1,368,551        16,057
 2016          7,200           0           0           0         7,200         58,099     1,426,650        13,722

 SUBTOT       98,700           0     100,000           0       198,700      1,426,650                     802,874
 REMAIN      137,010           0           0           0       137,010        636,208     2,062,858        75,545
 TOTAL       235,710           0     100,000           0       335,710      2,062,858                     878,419

   LIFE OF EVALUATION IS 34.03 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 192
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   12-T1S-R74E                                           PROVED
     BOBBY YEARY #1   (REEDSVILLE-TRENTON)                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        60,307
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        53,412
 REMARKS -                                                                                 15.00% -        47,658
                                                                                           20.00% -        42,824
                                                                                           25.00% -        38,736





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          18               0           0           7.911       0.00     2.35
 2003     1             0           0          16               0           0           7.162       0.00     2.35
 2004     1             0           0          15               0           0           6.516       0.00     2.36
 2005     1             0           0          14               0           0           5.955       0.00     2.35
 2006     1             0           0          12               0           0           5.464       0.00     2.35
 2007     1             0           0          12               0           0           5.033       0.00     2.35
 2008     1             0           0           1               0           0           0.601       0.00     2.35
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          88               0           0          38.642       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          88               0           0          38.642       0.00     2.36

 CUMULATIVE             0           0           3
 ULTIMATE               0           0          91





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        18,630            0        18,630           0         559        18,071
 2003                0           0        16,867            0        16,867           0         506        16,361
 2004                0           0        15,345            0        15,345           0         460        14,885
 2005                0           0        14,023            0        14,023           0         421        13,602
 2006                0           0        12,869            0        12,869           0         386        12,483
 2007                0           0        11,852            0        11,852           0         356        11,496
 2008                0           0         1,416            0         1,416           0          42         1,374
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        91,002            0        91,002           0       2,730        88,272
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        91,002            0        91,002           0       2,730        88,272






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          3,000           0           0           0         3,000         15,071        15,071        14,359
 2003          3,000           0           0           0         3,000         13,361        28,432        11,523
 2004          3,000           0           0           0         3,000         11,885        40,317         9,279
 2005          3,000           0           0           0         3,000         10,602        50,919         7,492
 2006          3,600           0           0           0         3,600          8,883        59,802         5,682
 2007          3,600           0           0           0         3,600          7,896        67,698         4,572
 2008            450           0           0           0           450            924        68,622           505
 2009              0           0           0           0             0              0        68,622             0
 2010              0           0           0           0             0              0        68,622             0
 2011              0           0           0           0             0              0        68,622             0
 2012              0           0           0           0             0              0        68,622             0
 2013              0           0           0           0             0              0        68,622             0
 2014              0           0           0           0             0              0        68,622             0
 2015              0           0           0           0             0              0        68,622             0
 2016              0           0           0           0             0              0        68,622             0

 SUBTOT       19,650           0           0           0        19,650         68,622                      53,412
 REMAIN            0           0           0           0             0              0        68,622             0
 TOTAL        19,650           0           0           0        19,650         68,622                      53,412

   LIFE OF EVALUATION IS 6.13 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO




                                 TENGASCO, INC.                        TABLE 193
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE



 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     BOBBY YEARY #1 BP   (KNOX)                                                        BEHIND PIPE

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        53,773
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        36,966
 REMARKS - CAPITAL INCLUDED TO PERFORATE KNOX PAY.                                         15.00% -        25,493
                                                                                           20.00% -        17,635
                                                                                           25.00% -        12,235





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0          38               0           0          16.606       0.00     2.35
 2009     1             0           0          32               0           0          14.034       0.00     2.36
 2010     1             0           0          23               0           0          10.162       0.00     2.35
 2011     1             0           0           7               0           0           2.950       0.00     2.35
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         100               0           0          43.752       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         100               0           0          43.752       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         100





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0        39,107            0        39,107           0       1,173        37,934
 2009                0           0        33,051            0        33,051           0         992        32,059
 2010                0           0        23,931            0        23,931           0         718        23,213
 2011                0           0         6,946            0         6,946           0         208         6,738
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       103,035            0       103,035           0       3,091        99,944
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       103,035            0       103,035           0       3,091        99,944






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008          3,000           0      10,000           0        13,000         24,934        24,934        12,799
 2009          3,600           0           0           0         3,600         28,459        53,393        13,534
 2010          3,600           0           0           0         3,600         19,613        73,006         8,440
 2011          1,270           0           0           0         1,270          5,468        78,474         2,193
 2012              0           0           0           0             0              0        78,474             0
 2013              0           0           0           0             0              0        78,474             0
 2014              0           0           0           0             0              0        78,474             0
 2015              0           0           0           0             0              0        78,474             0
 2016              0           0           0           0             0              0        78,474             0

 SUBTOT       11,470           0      10,000           0        21,470         78,474                      36,966
 REMAIN            0           0           0           0             0              0        78,474             0
 TOTAL        11,470           0      10,000           0        21,470         78,474                      36,966

   LIFE OF EVALUATION IS 9.35 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 194
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     BOBBY YEARY NO. 2   (STONES RIVER)                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000  0.437500                         16.25                               5.00% -       107,497
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -        91,080
 REMARKS - PAT **********START DATE WAS DEC2001  I CHGD IT TO GET IT TO RUN                15.00% -        78,620
                                                                                           20.00% -        68,945
                                                                                           25.00% -        61,276





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         4,112           0           0           1,799           0           0.000      16.25     0.00
 2003     1         3,618           0           0           1,583           0           0.000      16.25     0.00
 2004     1         3,184           0           0           1,393           0           0.000      16.25     0.00
 2005     1         2,802           0           0           1,226           0           0.000      16.25     0.00
 2006     1         2,465           0           0           1,078           0           0.000      16.25     0.00
 2007     1         2,170           0           0             950           0           0.000      16.25     0.00
 2008     1         1,910           0           0             835           0           0.000      16.25     0.00
 2009     1         1,680           0           0             735           0           0.000      16.25     0.00
 2010     1         1,479           0           0             647           0           0.000      16.25     0.00
 2011     1         1,301           0           0             569           0           0.000      16.25     0.00
 2012     1         1,145           0           0             501           0           0.000      16.25     0.00
 2013     1         1,008           0           0             441           0           0.000      16.25     0.00
 2014     1           886           0           0             388           0           0.000      16.25     0.00
 2015     1           781           0           0             342           0           0.000      16.25     0.00
 2016     1           297           0           0             129           0           0.000      16.25     0.00

 SUB-TOTAL         28,838           0           0          12,616           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             28,838           0           0          12,616           0           0.000      16.25     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          28,838           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002           29,231           0             0            0        29,231         877           0        28,354
 2003           25,723           0             0            0        25,723         772           0        24,951
 2004           22,637           0             0            0        22,637         679           0        21,958
 2005           19,920           0             0            0        19,920         597           0        19,323
 2006           17,529           0             0            0        17,529         526           0        17,003
 2007           15,426           0             0            0        15,426         463           0        14,963
 2008           13,575           0             0            0        13,575         407           0        13,168
 2009           11,946           0             0            0        11,946         359           0        11,587
 2010           10,513           0             0            0        10,513         315           0        10,198
 2011            9,251           0             0            0         9,251         278           0         8,973
 2012            8,141           0             0            0         8,141         244           0         7,897
 2013            7,163           0             0            0         7,163         215           0         6,948
 2014            6,305           0             0            0         6,305         189           0         6,116
 2015            5,547           0             0            0         5,547         166           0         5,381
 2016            2,111           0             0            0         2,111          64           0         2,047

 SUB-TOT       205,018           0             0            0       205,018       6,151           0       198,867
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         205,018           0             0            0       205,018       6,151           0       198,867






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          4,800           0           0           0         4,800         23,554        23,554        22,448
 2003          4,800           0           0           0         4,800         20,151        43,705        17,384
 2004          4,800           0           0           0         4,800         17,158        60,863        13,400
 2005          4,800           0           0           0         4,800         14,523        75,386        10,268
 2006          4,800           0           0           0         4,800         12,203        87,589         7,810
 2007          4,800           0           0           0         4,800         10,163        97,752         5,888
 2008          4,800           0           0           0         4,800          8,368       106,120         4,390
 2009          4,800           0           0           0         4,800          6,787       112,907         3,223
 2010          4,800           0           0           0         4,800          5,398       118,305         2,321
 2011          4,800           0           0           0         4,800          4,173       122,478         1,624
 2012          4,800           0           0           0         4,800          3,097       125,575         1,092
 2013          4,800           0           0           0         4,800          2,148       127,723           686
 2014          4,800           0           0           0         4,800          1,316       129,039           381
 2015          4,800           0           0           0         4,800            581       129,620           153
 2016          2,000           0           0           0         2,000             47       129,667            12

 SUBTOT       69,200           0           0           0        69,200        129,667                      91,080
 REMAIN            0           0           0           0             0              0       129,667             0
 TOTAL        69,200           0           0           0        69,200        129,667                      91,080

   LIFE OF EVALUATION IS 14.42 YEARS.
   FINAL PRODUCTION RATE: 58 BBLS/MO







                                 TENGASCO, INC.                        TABLE 195
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     CHERYL SMITH #1   (TRENTON)                                                       SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
INITIAL -   0.500000  0.437500                         16.25                               5.00% -        31,040
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -        29,928
 REMARKS -                                                                                 15.00% -        28,864
                                                                                           20.00% -        27,845
                                                                                           25.00% -        26,868





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         4,333           0           0           1,896           0           0.000      16.25     0.00
 2003     1           808           0           0             353           0           0.000      16.25     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          5,141           0           0           2,249           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              5,141           0           0           2,249           0           0.000      16.25     0.00

 CUMULATIVE             0           0           0
 ULTIMATE           5,141           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           30,805           0             0            0        30,805         924           0        29,881
 2003            5,741           0             0            0         5,741         172           0         5,569
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        36,546           0             0            0        36,546       1,096           0        35,450
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          36,546           0             0            0        36,546       1,096           0        35,450






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0           0           0         1,500         28,381        28,381        26,526
 2003          1,750           0           0           0         1,750          3,819        32,200         3,402
 2004              0           0           0           0             0              0        32,200             0
 2005              0           0           0           0             0              0        32,200             0
 2006              0           0           0           0             0              0        32,200             0
 2007              0           0           0           0             0              0        32,200             0
 2008              0           0           0           0             0              0        32,200             0
 2009              0           0           0           0             0              0        32,200             0
 2010              0           0           0           0             0              0        32,200             0
 2011              0           0           0           0             0              0        32,200             0
 2012              0           0           0           0             0              0        32,200             0
 2013              0           0           0           0             0              0        32,200             0
 2014              0           0           0           0             0              0        32,200             0
 2015              0           0           0           0             0              0        32,200             0
 2016              0           0           0           0             0              0        32,200             0

 SUBTOT        3,250           0           0           0         3,250         32,200                      29,928
 REMAIN            0           0           0           0             0              0        32,200             0
 TOTAL         3,250           0           0           0         3,250         32,200                      29,928

   LIFE OF EVALUATION IS 1.58 YEARS.
   FINAL PRODUCTION RATE: 41 BBLS/MO






                                 TENGASCO, INC.                        TABLE 196
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO - OPERATOR                                                                 PROVED
     CHERYL SMITH #2   (KNOX)                                                          UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       433,208
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       350,076
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       289,299
                                                                                           20.00% -       243,492
                                                                                           25.00% -       208,009





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          66               0           0          57.789       0.00     2.36
 2004     1             0           0          46               0           0          40.643       0.00     2.35
 2005     1             0           0          35               0           0          29.757       0.00     2.35
 2006     1             0           0          27               0           0          24.118       0.00     2.36
 2007     1             0           0          24               0           0          20.570       0.00     2.35
 2008     1             0           0          20               0           0          18.096       0.00     2.35
 2009     1             0           0          19               0           0          16.253       0.00     2.35
 2010     1             0           0          17               0           0          14.818       0.00     2.35
 2011     1             0           0          15               0           0          13.663       0.00     2.36
 2012     1             0           0          15               0           0          12.710       0.00     2.35
 2013     1             0           0          14               0           0          11.907       0.00     2.35
 2014     1             0           0          12               0           0          11.221       0.00     2.35
 2015     1             0           0           9               0           0           7.581       0.00     2.35
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         319               0           0         279.126       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         319               0           0         279.126       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         319





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                 
 2002                0           0             0            0             0           0           0             0
 2003                0           0       136,092            0       136,092           0       4,083       132,009
 2004                0           0        95,715            0        95,715           0       2,871        92,844
 2005                0           0        70,077            0        70,077           0       2,103        67,974
 2006                0           0        56,798            0        56,798           0       1,703        55,095
 2007                0           0        48,443            0        48,443           0       1,454        46,989
 2008                0           0        42,615            0        42,615           0       1,278        41,337
 2009                0           0        38,276            0        38,276           0       1,148        37,128
 2010                0           0        34,896            0        34,896           0       1,047        33,849
 2011                0           0        32,176            0        32,176           0         966        31,210
 2012                0           0        29,932            0        29,932           0         898        29,034
 2013                0           0        28,042            0        28,042           0         841        27,201
 2014                0           0        26,425            0        26,425           0         793        25,632
 2015                0           0        17,852            0        17,852           0         535        17,317
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       657,339            0       657,339           0      19,720       637,619
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       657,339            0       657,339           0      19,720       637,619






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          5,000           0           0           0         5,000        127,009       127,009       109,072
 2004          6,000           0           0           0         6,000         86,844       213,853        67,965
 2005          6,000           0           0           0         6,000         61,974       275,827        43,851
 2006          7,200           0           0           0         7,200         47,895       323,722        30,661
 2007          7,200           0           0           0         7,200         39,789       363,511        23,049
 2008          7,200           0           0           0         7,200         34,137       397,648        17,898
 2009          7,200           0           0           0         7,200         29,928       427,576        14,201
 2010          7,200           0           0           0         7,200         26,649       454,225        11,445
 2011          7,200           0           0           0         7,200         24,010       478,235         9,334
 2012          7,200           0           0           0         7,200         21,834       500,069         7,683
 2013          7,200           0           0           0         7,200         20,001       520,070         6,370
 2014          7,200           0           0           0         7,200         18,432       538,502         5,314
 2015          5,098           0           0           0         5,098         12,219       550,721         3,233
 2016              0           0           0           0             0              0       550,721             0

 SUBTOT       86,898           0           0           0        86,898        550,721                     350,076
 REMAIN            0           0           0           0             0              0       550,721             0
 TOTAL        86,898           0           0           0        86,898        550,721                     350,076

   LIFE OF EVALUATION IS 13.71 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 197
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     CHEVRON REED #1   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                    
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -             4
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -             4
 REMARKS -                                                                                 15.00% -             4
                                                                                           20.00% -             4
                                                                                           25.00% -             4





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           1               0           0           0.658       0.00     2.35
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           1               0           0           0.658       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           1               0           0           0.658       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           1





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         1,551            0         1,551           0          47         1,504
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0         1,551            0         1,551           0          47         1,504
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0         1,551            0         1,551           0          47         1,504






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002          1,500           0           0           0         1,500              4             4             4
 2003              0           0           0           0             0              0             4             0
 2004              0           0           0           0             0              0             4             0
 2005              0           0           0           0             0              0             4             0
 2006              0           0           0           0             0              0             4             0
 2007              0           0           0           0             0              0             4             0
 2008              0           0           0           0             0              0             4             0
 2009              0           0           0           0             0              0             4             0
 2010              0           0           0           0             0              0             4             0
 2011              0           0           0           0             0              0             4             0
 2012              0           0           0           0             0              0             4             0
 2013              0           0           0           0             0              0             4             0
 2014              0           0           0           0             0              0             4             0
 2015              0           0           0           0             0              0             4             0
 2016              0           0           0           0             0              0             4             0

 SUBTOT        1,500           0           0           0         1,500              4                           4
 REMAIN            0           0           0           0             0              0             4             0
 TOTAL         1,500           0           0           0         1,500              4                           4

   LIFE OF EVALUATION IS 0.25 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO





                                 TENGASCO, INC.                        TABLE 198
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     D. SUTTON HEIRS #1   (KNOX)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.678444                             2.35        5.00% -        89,842
 FINAL   -   1.000000                      0.678444                             2.35       10.00% -        87,909
 REMARKS -                                                                                 15.00% -        86,042
                                                                                           20.00% -        84,238





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          63               0           0          42.833       0.00     2.36
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          63               0           0          42.833       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          63               0           0          42.833       0.00     2.36

 CUMULATIVE             0           0          65
 ULTIMATE               0           0         128





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0       100,872            0       100,872           0       3,026        97,846
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       100,872            0       100,872           0       3,026        97,846
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       100,872            0       100,872           0       3,026        97,846






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         91,846        91,846        87,909
 2003              0           0           0           0             0              0        91,846             0
 2004              0           0           0           0             0              0        91,846             0
 2005              0           0           0           0             0              0        91,846             0
 2006              0           0           0           0             0              0        91,846             0
 2007              0           0           0           0             0              0        91,846             0
 2008              0           0           0           0             0              0        91,846             0
 2009              0           0           0           0             0              0        91,846             0
 2010              0           0           0           0             0              0        91,846             0
 2011              0           0           0           0             0              0        91,846             0
 2012              0           0           0           0             0              0        91,846             0
 2013              0           0           0           0             0              0        91,846             0
 2014              0           0           0           0             0              0        91,846             0
 2015              0           0           0           0             0              0        91,846             0
 2016              0           0           0           0             0              0        91,846             0

 SUBTOT        6,000           0           0           0         6,000         91,846                      87,909
 REMAIN            0           0           0           0             0              0        91,846             0
 TOTAL         6,000           0           0           0         6,000         91,846                      87,909

   LIFE OF EVALUATION IS 1.00 YEARS.
   FINAL PRODUCTION RATE: 4.1 MMCF/MO





                                 TENGASCO, INC.                        TABLE 199
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     D. SUTTON HEIRS #1 BP   (TRENTON)                                                 BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.678444                             2.35        5.00% -       209,679
 FINAL   -   1.000000                      0.678444                             2.35       10.00% -       175,729
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO TRENTON.                                      15.00% -       148,387
                                                                                           20.00% -       126,185
                                                                                           25.00% -       108,011





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          49               0           0          33.339       0.00     2.35
 2004     1             0           0          40               0           0          27.189       0.00     2.35
 2005     1             0           0          34               0           0          22.617       0.00     2.35
 2006     1             0           0          28               0           0          19.123       0.00     2.35
 2007     1             0           0          24               0           0          16.391       0.00     2.36
 2008     1             0           0          21               0           0          14.213       0.00     2.35
 2009     1             0           0          10               0           0           6.888       0.00     2.36
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         206               0           0         139.760       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         206               0           0         139.760       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         206





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        78,515            0        78,515           0       2,355        76,160
 2004                0           0        64,030            0        64,030           0       1,921        62,109
 2005                0           0        53,263            0        53,263           0       1,598        51,665
 2006                0           0        45,034            0        45,034           0       1,351        43,683
 2007                0           0        38,600            0        38,600           0       1,158        37,442
 2008                0           0        33,471            0        33,471           0       1,004        32,467
 2009                0           0        16,221            0        16,221           0         487        15,734
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       329,134            0       329,134           0       9,874       319,260
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       329,134            0       329,134           0       9,874       319,260






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003          7,200           0      20,000           0        27,200         48,960        48,960        41,503
 2004          7,200           0           0           0         7,200         54,909       103,869        42,902
 2005          7,200           0           0           0         7,200         44,465       148,334        31,445
 2006          7,200           0           0           0         7,200         36,483       184,817        23,352
 2007          7,200           0           0           0         7,200         30,242       215,059        17,522
 2008          7,200           0           0           0         7,200         25,267       240,326        13,250
 2009          3,870           0           0           0         3,870         11,864       252,190         5,755
 2010              0           0           0           0             0              0       252,190             0
 2011              0           0           0           0             0              0       252,190             0
 2012              0           0           0           0             0              0       252,190             0
 2013              0           0           0           0             0              0       252,190             0
 2014              0           0           0           0             0              0       252,190             0
 2015              0           0           0           0             0              0       252,190             0
 2016              0           0           0           0             0              0       252,190             0

 SUBTOT       47,070           0      20,000           0        67,070        252,190                     175,729
 REMAIN            0           0           0           0             0              0       252,190             0
 TOTAL        47,070           0      20,000           0        67,070        252,190                     175,729

   LIFE OF EVALUATION IS 7.54 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 200
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR                                                            PROVED
     D. SUTTON HEIRS #3   (KNOX)                                                       UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                             
 INITIAL -   1.000000                      0.678444                             2.35        5.00% -     1,812,482
 FINAL   -   1.000000                      0.678444                             2.35       10.00% -     1,199,674
 REMARKS - CAPITAL INCLUDED TO REDRILL SUTTON HEIRS #1 TO RECOVER                          15.00% -       871,420
           REMAINDER OF KNOX RESERVES.                                                     20.00% -       667,774
                                                                                           25.00% -       529,217





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
2002                    0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0         258               0           0         175.224       0.00     2.36
 2004     1             0           0         175               0           0         118.856       0.00     2.35
 2005     1             0           0         142               0           0          96.219       0.00     2.36
 2006     1             0           0         123               0           0          83.038       0.00     2.35
 2007     1             0           0         109               0           0          74.133       0.00     2.35
 2008     1             0           0         100               0           0          67.597       0.00     2.36
 2009     1             0           0          92               0           0          62.534       0.00     2.36
 2010     1             0           0          86               0           0          58.463       0.00     2.35
 2011     1             0           0          81               0           0          55.096       0.00     2.36
 2012     1             0           0          77               0           0          52.242       0.00     2.35
 2013     1             0           0          73               0           0          49.631       0.00     2.36
 2014     1             0           0          70               0           0          47.149       0.00     2.35
 2015     1             0           0          66               0           0          44.792       0.00     2.36
 2016     1             0           0          63               0           0          42.552       0.00     2.35

 SUB-TOTAL              0           0       1,515               0           0       1,027.526       0.00     2.35
 REMAINDER              0           0         957               0           0         649.588       0.00     2.35
 TOTAL                  0           0       2,472               0           0       1,677.114       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0       2,472





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       412,652            0       412,652           0      12,380       400,272
 2004                0           0       279,906            0       279,906           0       8,397       271,509
 2005                0           0       226,596            0       226,596           0       6,798       219,798
 2006                0           0       195,554            0       195,554           0       5,866       189,688
 2007                0           0       174,584            0       174,584           0       5,238       169,346
 2008                0           0       159,190            0       159,190           0       4,775       154,415
 2009                0           0       147,268            0       147,268           0       4,418       142,850
 2010                0           0       137,680            0       137,680           0       4,131       133,549
 2011                0           0       129,752            0       129,752           0       3,892       125,860
 2012                0           0       123,029            0       123,029           0       3,691       119,338
 2013                0           0       116,881            0       116,881           0       3,507       113,374
 2014                0           0       111,037            0       111,037           0       3,331       107,706
 2015                0           0       105,485            0       105,485           0       3,164       102,321
 2016                0           0       100,210            0       100,210           0       3,007        97,203

 SUB-TOT             0           0     2,419,824            0     2,419,824           0      72,595     2,347,229
 REMAIN              0           0     1,529,779            0     1,529,779           0      45,893     1,483,886
 TOTAL               0           0     3,949,603            0     3,949,603           0     118,488     3,831,115






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          6,000           0     250,000           0       256,000        144,272       144,272       115,947
 2004          6,000           0           0           0         6,000        265,509       409,781       207,532
 2005          6,000           0           0           0         6,000        213,798       623,579       151,159
 2006          7,200           0           0           0         7,200        182,488       806,067       116,752
 2007          7,200           0           0           0         7,200        162,146       968,213        93,884
 2008          7,200           0           0           0         7,200        147,215     1,115,428        77,148
 2009          7,200           0           0           0         7,200        135,650     1,251,078        64,342
 2010          7,200           0           0           0         7,200        126,349     1,377,427        54,246
 2011          7,200           0           0           0         7,200        118,660     1,496,087        46,113
 2012          7,200           0           0           0         7,200        112,138     1,608,225        39,446
 2013          7,200           0           0           0         7,200        106,174     1,714,399        33,809
 2014          7,200           0           0           0         7,200        100,506     1,814,905        28,970
 2015          7,200           0           0           0         7,200         95,121     1,910,026        24,819
 2016          7,200           0           0           0         7,200         90,003     2,000,029        21,257

 SUBTOT       97,200           0     250,000           0       347,200      2,000,029                   1,075,424
 REMAIN      228,361           0           0           0       228,361      1,255,525     3,255,554       124,250
 TOTAL       325,561           0     250,000           0       575,561      3,255,554                   1,199,674

   LIFE OF EVALUATION IS 46.72 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO




                                 TENGASCO, INC.                        TABLE 201
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     DARNELL SUTTON #1   (KNOX)                                                        SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       173,944
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       159,963
 REMARKS -                                                                                 15.00% -       147,328
                                                                                           20.00% -       135,894
                                                                                           25.00% -       125,529





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          20               0           0          17.468       0.00     2.35
 2003     1             0           0          44               0           0          38.265       0.00     2.35
 2004     1             0           0          38               0           0          33.517       0.00     2.35
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         102               0           0          89.250       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         102               0           0          89.250       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         102





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        41,136            0        41,136           0       1,234        39,902
 2003                0           0        90,115            0        90,115           0       2,704        87,411
 2004                0           0        78,933            0        78,933           0       2,368        76,565
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       210,184            0       210,184           0       6,306       203,878
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       210,184            0       210,184           0       6,306       203,878






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          2,500           0           0           0         2,500         37,402        37,402        34,576
 2003          6,000           0           0           0         6,000         81,411       118,813        70,222
 2004          5,940           0           0           0         5,940         70,625       189,438        55,165
 2005              0           0           0           0             0              0       189,438             0
 2006              0           0           0           0             0              0       189,438             0
 2007              0           0           0           0             0              0       189,438             0
 2008              0           0           0           0             0              0       189,438             0
 2009              0           0           0           0             0              0       189,438             0
 2010              0           0           0           0             0              0       189,438             0
 2011              0           0           0           0             0              0       189,438             0
 2012              0           0           0           0             0              0       189,438             0
 2013              0           0           0           0             0              0       189,438             0
 2014              0           0           0           0             0              0       189,438             0
 2015              0           0           0           0             0              0       189,438             0
 2016              0           0           0           0             0              0       189,438             0

 SUBTOT       14,440           0           0           0        14,440        189,438                     159,963
 REMAIN            0           0           0           0             0              0       189,438             0
 TOTAL        14,440           0           0           0        14,440        189,438                     159,963

   LIFE OF EVALUATION IS 2.99 YEARS.
   FINAL PRODUCTION RATE: 3.1 MMCF/MO





                                 TENGASCO, INC.                        TABLE 202
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   6-T1S-R75E                                            PROVED
     DEANNA CROSS #1   (KNOX)                                                          SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       167,136
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -       142,115
 REMARKS -                                                                                 15.00% -       122,495
                                                                                           20.00% -       106,860
                                                                                           25.00% -        94,208





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          27               0           0          12.002       0.00     2.35
 2003     1             0           0          46               0           0          19.893       0.00     2.36
 2004     1             0           0          33               0           0          14.309       0.00     2.35
 2005     1             0           0          26               0           0          11.509       0.00     2.35
 2006     1             0           0          22               0           0           9.774       0.00     2.35
 2007     1             0           0          20               0           0           8.574       0.00     2.36
 2008     1             0           0          17               0           0           7.687       0.00     2.35
 2009     1             0           0          16               0           0           6.998       0.00     2.35
 2010     1             0           0          15               0           0           6.446       0.00     2.36
 2011     1             0           0           8               0           0           3.433       0.00     2.35
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         230               0           0         100.625       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         230               0           0         100.625       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         230





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        28,265            0        28,265           0         848        27,417
 2003                0           0        46,847            0        46,847           0       1,405        45,442
 2004                0           0        33,698            0        33,698           0       1,011        32,687
 2005                0           0        27,104            0        27,104           0         813        26,291
 2006                0           0        23,018            0        23,018           0         691        22,327
 2007                0           0        20,193            0        20,193           0         606        19,587
 2008                0           0        18,102            0        18,102           0         543        17,559
 2009                0           0        16,480            0        16,480           0         494        15,986
 2010                0           0        15,179            0        15,179           0         456        14,723
 2011                0           0         8,086            0         8,086           0         242         7,844
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       236,972            0       236,972           0       7,109       229,863
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       236,972            0       236,972           0       7,109       229,863






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,250           0           0           0         1,250         26,167        26,167        24,210
 2003          3,000           0           0           0         3,000         42,442        68,609        36,703
 2004          3,000           0           0           0         3,000         29,687        98,296        23,208
 2005          3,000           0           0           0         3,000         23,291       121,587        16,472
 2006          3,600           0           0           0         3,600         18,727       140,314        11,985
 2007          3,600           0           0           0         3,600         15,987       156,301         9,259
 2008          3,600           0           0           0         3,600         13,959       170,260         7,318
 2009          3,600           0           0           0         3,600         12,386       182,646         5,877
 2010          3,600           0           0           0         3,600         11,123       193,769         4,776
 2011          2,033           0           0           0         2,033          5,811       199,580         2,307
 2012              0           0           0           0             0              0       199,580             0
 2013              0           0           0           0             0              0       199,580             0
 2014              0           0           0           0             0              0       199,580             0
 2015              0           0           0           0             0              0       199,580             0
 2016              0           0           0           0             0              0       199,580             0

 SUBTOT       30,283           0           0           0        30,283        199,580                     142,115
 REMAIN            0           0           0           0             0              0       199,580             0
 TOTAL        30,283           0           0           0        30,283        199,580                     142,115

   LIFE OF EVALUATION IS 9.56 YEARS.
   FINAL PRODUCTION RATE: 1.1 MMCF/MO





                                 TENGASCO, INC.                        TABLE 203
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   6-T1S-R75E                                            PROVED
     DEANNA CROSS #1 BP   (KNOX)                                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       119,941
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        66,380
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -        37,115
                                                                                           20.00% -        20,950
                                                                                           25.00% -        11,930





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0          34               0           0          14.739       0.00     2.35
 2012     1             0           0          60               0           0          26.278       0.00     2.36
 2013     1             0           0          45               0           0          19.823       0.00     2.36
 2014     1             0           0          35               0           0          15.333       0.00     2.36
 2015     1             0           0          28               0           0          12.110       0.00     2.35
 2016     1             0           0          22               0           0           9.736       0.00     2.35

 SUB-TOTAL              0           0         224               0           0          98.019       0.00     2.35
 REMAINDER              0           0          32               0           0          13.771       0.00     2.35
 TOTAL                  0           0         256               0           0         111.790       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         256





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0        34,711            0        34,711           0       1,041        33,670
 2012                0           0        61,884            0        61,884           0       1,857        60,027
 2013                0           0        46,684            0        46,684           0       1,400        45,284
 2014                0           0        36,109            0        36,109           0       1,084        35,025
 2015                0           0        28,518            0        28,518           0         855        27,663
 2016                0           0        22,928            0        22,928           0         688        22,240

 SUB-TOT             0           0       230,834            0       230,834           0       6,925       223,909
 REMAIN              0           0        32,431            0        32,431           0         973        31,458
 TOTAL               0           0       263,265            0       263,265           0       7,898       255,367






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
2002               0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011          1,500           0      10,000           0        11,500         22,170        22,170         8,321
 2012          3,600           0           0           0         3,600         56,427        78,597        19,892
 2013          3,600           0           0           0         3,600         41,684       120,281        13,299
 2014          3,600           0           0           0         3,600         31,425       151,706         9,074
 2015          3,600           0           0           0         3,600         24,063       175,769         6,289
 2016          3,600           0           0           0         3,600         18,640       194,409         4,410

 SUBTOT       19,500           0      10,000           0        29,500        194,409                      61,285
 REMAIN        6,754           0           0           0         6,754         24,704       219,113         5,095
 TOTAL        26,254           0      10,000           0        36,254        219,113                      66,380

   LIFE OF EVALUATION IS 16.88 YEARS.
   FINAL PRODUCTION RATE: 1.2 MMCF/MO





                                 TENGASCO, INC.                        TABLE 204
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   MILLER PETROLEUM - OPERATOR   6-T1S-R75E                                            PROVED
     DEWEY SUTTON #1   (TRENTON)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.500000  0.437500                         16.25                               5.00% -        42,575
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -        37,417
 REMARKS -                                                                                 15.00% -        33,238
                                                                                           20.00% -        29,811
                                                                                           25.00% -        26,967





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,340           0           0           1,024           0           0.000      16.25     0.00
 2003     1         2,059           0           0             901           0           0.000      16.25     0.00
 2004     1         1,812           0           0             792           0           0.000      16.25     0.00
 2005     1         1,595           0           0             698           0           0.000      16.25     0.00
 2006     1         1,403           0           0             614           0           0.000      16.25     0.00
 2007     1         1,235           0           0             540           0           0.000      16.25     0.00
 2008     1         1,087           0           0             476           0           0.000      16.25     0.00
 2009     1           956           0           0             418           0           0.000      16.25     0.00
 2010     1           842           0           0             368           0           0.000      16.25     0.00
 2011     1           740           0           0             324           0           0.000      16.25     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         14,069           0           0           6,155           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             14,069           0           0           6,155           0           0.000      16.25     0.00

 CUMULATIVE         8,665           0           0
 ULTIMATE          22,734           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           16,636           0             0            0        16,636         499           0        16,137
 2003           14,640           0             0            0        14,640         439           0        14,201
 2004           12,883           0             0            0        12,883         387           0        12,496
 2005           11,337           0             0            0        11,337         340           0        10,997
 2006            9,976           0             0            0         9,976         299           0         9,677
 2007            8,779           0             0            0         8,779         264           0         8,515
 2008            7,726           0             0            0         7,726         231           0         7,495
 2009            6,799           0             0            0         6,799         204           0         6,595
 2010            5,983           0             0            0         5,983         180           0         5,803
 2011            5,265           0             0            0         5,265         158           0         5,107
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       100,024           0             0            0       100,024       3,001           0        97,023
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         100,024           0             0            0       100,024       3,001           0        97,023






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          4,800           0           0           0         4,800         11,337        11,337        10,807
 2003          4,800           0           0           0         4,800          9,401        20,738         8,113
 2004          4,800           0           0           0         4,800          7,696        28,434         6,012
 2005          4,800           0           0           0         4,800          6,197        34,631         4,383
 2006          4,800           0           0           0         4,800          4,877        39,508         3,124
 2007          4,800           0           0           0         4,800          3,715        43,223         2,154
 2008          4,800           0           0           0         4,800          2,695        45,918         1,416
 2009          4,800           0           0           0         4,800          1,795        47,713           854
 2010          4,800           0           0           0         4,800          1,003        48,716           433
 2011          4,800           0           0           0         4,800            307        49,023           121
 2012              0           0           0           0             0              0        49,023             0
 2013              0           0           0           0             0              0        49,023             0
 2014              0           0           0           0             0              0        49,023             0
 2015              0           0           0           0             0              0        49,023             0
 2016              0           0           0           0             0              0        49,023             0

 SUBTOT       48,000           0           0           0        48,000         49,023                      37,417
 REMAIN            0           0           0           0             0              0        49,023             0
 TOTAL        48,000           0           0           0        48,000         49,023                      37,417

   LIFE OF EVALUATION IS 10.00 YEARS.
   FINAL PRODUCTION RATE: 58 BBLS/MO






                                 TENGASCO, INC.                        TABLE 205
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     DORIS HELTON #1   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        13,722
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        12,139
 REMARKS -                                                                                 15.00% -        10,833
                                                                                           20.00% -         9,746
                                                                                           25.00% -         8,831





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           5               0           0           4.143       0.00     2.35
 2003     1             0           0           4               0           0           4.019       0.00     2.35
 2004     1             0           0           5               0           0           3.898       0.00     2.35
 2005     1             0           0           4               0           0           3.781       0.00     2.35
 2006     1             0           0           4               0           0           3.668       0.00     2.35
 2007     1             0           0           4               0           0           3.558       0.00     2.35
 2008     1             0           0           4               0           0           3.451       0.00     2.35
 2009     1             0           0           4               0           0           3.347       0.00     2.35
 2010     1             0           0           4               0           0           3.247       0.00     2.35
 2011     1             0           0           2               0           0           1.587       0.00     2.36
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          40               0           0          34.699       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          40               0           0          34.699       0.00     2.36

 CUMULATIVE             0           0           1
 ULTIMATE               0           0          41





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         9,756            0         9,756           0         293         9,463
 2003                0           0         9,464            0         9,464           0         284         9,180
 2004                0           0         9,180            0         9,180           0         275         8,905
 2005                0           0         8,905            0         8,905           0         267         8,638
 2006                0           0         8,637            0         8,637           0         259         8,378
 2007                0           0         8,378            0         8,378           0         252         8,126
 2008                0           0         8,127            0         8,127           0         243         7,884
 2009                0           0         7,883            0         7,883           0         237         7,646
 2010                0           0         7,647            0         7,647           0         229         7,418
 2011                0           0         3,737            0         3,737           0         112         3,625
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        81,714            0        81,714           0       2,451        79,263
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        81,714            0        81,714           0       2,451        79,263






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          6,000           0           0           0         6,000          3,463         3,463         3,298
 2003          6,000           0           0           0         6,000          3,180         6,643         2,742
 2004          6,000           0           0           0         6,000          2,905         9,548         2,268
 2005          6,000           0           0           0         6,000          2,638        12,186         1,864
 2006          7,200           0           0           0         7,200          1,178        13,364           754
 2007          7,200           0           0           0         7,200            926        14,290           537
 2008          7,200           0           0           0         7,200            684        14,974           359
 2009          7,200           0           0           0         7,200            446        15,420           212
 2010          7,200           0           0           0         7,200            218        15,638            95
 2011          3,600           0           0           0         3,600             25        15,663            10
 2012              0           0           0           0             0              0        15,663             0
 2013              0           0           0           0             0              0        15,663             0
 2014              0           0           0           0             0              0        15,663             0
 2015              0           0           0           0             0              0        15,663             0
 2016              0           0           0           0             0              0        15,663             0

 SUBTOT       63,600           0           0           0        63,600         15,663                      12,139
 REMAIN            0           0           0           0             0              0        15,663             0
 TOTAL        63,600           0           0           0        63,600         15,663                      12,139

   LIFE OF EVALUATION IS 9.50 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO






                                 TENGASCO, INC.                        TABLE 206
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     DORIS HELTON #1 BP1   (KNOX)                                                      BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       666,920
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       356,976
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -       196,866
                                                                                           20.00% -       111,106
                                                                                           25.00% -        63,841





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0         153               0           0         133.564       0.00     2.35
 2012     1             0           0         113               0           0          99.443       0.00     2.35
 2013     1             0           0          71               0           0          61.738       0.00     2.35
 2014     1             0           0          54               0           0          47.137       0.00     2.35
 2015     1             0           0          44               0           0          38.957       0.00     2.35
 2016     1             0           0          39               0           0          33.605       0.00     2.36

 SUB-TOTAL              0           0         474               0           0         414.444       0.00     2.35
 REMAINDER              0           0         238               0           0         208.569       0.00     2.35
 TOTAL                  0           0         712               0           0         623.013       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         712





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0       314,543            0       314,543           0       9,436       305,107
 2012                0           0       234,190            0       234,190           0       7,026       227,164
 2013                0           0       145,393            0       145,393           0       4,362       141,031
 2014                0           0       111,008            0       111,008           0       3,330       107,678
 2015                0           0        91,743            0        91,743           0       2,752        88,991
 2016                0           0        79,141            0        79,141           0       2,375        76,766

 SUB-TOT             0           0       976,018            0       976,018           0      29,281       946,737
 REMAIN              0           0       491,180            0       491,180           0      14,735       476,445
 TOTAL               0           0     1,467,198            0     1,467,198           0      44,016     1,423,182






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011          3,600           0      20,000           0        23,600        281,507       281,507       107,129
 2012          7,200           0           0           0         7,200        219,964       501,471        77,783
 2013          7,200           0           0           0         7,200        133,831       635,302        42,717
 2014          7,200           0           0           0         7,200        100,478       735,780        29,005
 2015          7,200           0           0           0         7,200         81,791       817,571        21,363
 2016          7,200           0           0           0         7,200         69,566       887,137        16,443

 SUBTOT       39,600           0      20,000           0        59,600        887,137                     294,440
 REMAIN       69,138           0           0           0        69,138        407,307     1,294,444        62,536
 TOTAL       108,738           0      20,000           0       128,738      1,294,444                     356,976

   LIFE OF EVALUATION IS 24.60 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 207
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     DORIS HELTON #1 BP2   (TRENTON-STONE RIVER)                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
INITIAL -   1.000000                       0.875000                             2.35        5.00% -        45,469
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        12,084
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -         3,239
                                                                                           20.00% -           875
                                                                                           25.00% -           238





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         112               0           0          98.000       0.00     2.35
 TOTAL                  0           0         112               0           0          98.000       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         112





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       230,790            0       230,790           0       6,924       223,866
 TOTAL               0           0       230,790            0       230,790           0       6,924       223,866






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       31,294           0      20,000           0        51,294        172,572       172,572        12,084
 TOTAL        31,294           0      20,000           0        51,294        172,572                      12,084

   LIFE OF EVALUATION IS 29.01 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 208
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROBABLE
     F. WELLS #1   (KNOX)                                                              UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                    
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 209
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     FRED PORTRUM #1   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                     
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS -                                                                                 15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           1
 ULTIMATE               0           0           1





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 210
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     FRED PORTRUM #2   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                     
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - NO REMAINING RECOVERABLE RESERVES.                                              15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 211
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     GARY PATTON #2   (KNOX)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -        10,722
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -        10,312
 REMARKS -                                                                                 15.00% -         9,930
                                                                                           20.00% -         9,575
                                                                                           25.00% -         9,244





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           9               0           0           5.917       0.00     2.35
 2003     1             0           0           6               0           0           3.792       0.00     2.36
 2004     1             0           0           4               0           0           3.028       0.00     2.35
 2005     1             0           0           2               0           0           1.124       0.00     2.35
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          21               0           0          13.861       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          21               0           0          13.861       0.00     2.36

 CUMULATIVE             0           0           9
 ULTIMATE               0           0          30





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        13,934            0        13,934           0         418        13,516
 2003                0           0         8,931            0         8,931           0         268         8,663
 2004                0           0         7,132            0         7,132           0         214         6,918
 2005                0           0         2,647            0         2,647           0          79         2,568
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        32,644            0        32,644           0         979        31,665
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        32,644            0        32,644           0         979        31,665








                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          6,000           0           0           0         6,000          7,516         7,516         7,226
 2003          6,000           0           0           0         6,000          2,663        10,179         2,312
 2004          6,000           0           0           0         6,000            918        11,097           724
 2005          2,500           0           0           0         2,500             68        11,165            50
 2006              0           0           0           0             0              0        11,165             0
 2007              0           0           0           0             0              0        11,165             0
 2008              0           0           0           0             0              0        11,165             0
 2009              0           0           0           0             0              0        11,165             0
 2010              0           0           0           0             0              0        11,165             0
 2011              0           0           0           0             0              0        11,165             0
 2012              0           0           0           0             0              0        11,165             0
 2013              0           0           0           0             0              0        11,165             0
 2014              0           0           0           0             0              0        11,165             0
 2015              0           0           0           0             0              0        11,165             0
 2016              0           0           0           0             0              0        11,165             0

 SUBTOT       20,500           0           0           0        20,500         11,165                      10,312
 REMAIN            0           0           0           0             0              0        11,165             0
 TOTAL        20,500           0           0           0        20,500         11,165                      10,312

   LIFE OF EVALUATION IS 3.42 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO





                                 TENGASCO, INC.                        TABLE 212
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     GARY PATTON #2 BP1   (KNOX)                                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       698,663
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       513,000
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -       397,376
                                                                                           20.00% -       319,985
                                                                                           25.00% -       264,970





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          28               0           0          18.356       0.00     2.35
 2003     1             0           0          87               0           0          57.406       0.00     2.35
 2004     1             0           0          68               0           0          44.393       0.00     2.35
 2005     1             0           0          57               0           0          37.543       0.00     2.35
 2006     1             0           0          51               0           0          33.133       0.00     2.35
 2007     1             0           0          45               0           0          29.987       0.00     2.35
 2008     1             0           0          43               0           0          27.597       0.00     2.35
 2009     1             0           0          39               0           0          25.701       0.00     2.35
 2010     1             0           0          36               0           0          24.149       0.00     2.35
 2011     1             0           0          35               0           0          22.847       0.00     2.35
 2012     1             0           0          33               0           0          21.698       0.00     2.35
 2013     1             0           0          32               0           0          20.613       0.00     2.35
 2014     1             0           0          30               0           0          19.583       0.00     2.36
 2015     1             0           0          28               0           0          18.604       0.00     2.35
 2016     1             0           0          27               0           0          17.673       0.00     2.35

 SUB-TOTAL              0           0         639               0           0         419.283       0.00     2.35
 REMAINDER              0           0         156               0           0         102.435       0.00     2.35
 TOTAL                  0           0         795               0           0         521.718       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         795





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        43,229            0        43,229           0       1,297        41,932
 2003                0           0       135,193            0       135,193           0       4,056       131,137
 2004                0           0       104,545            0       104,545           0       3,136       101,409
 2005                0           0        88,414            0        88,414           0       2,652        85,762
 2006                0           0        78,028            0        78,028           0       2,341        75,687
 2007                0           0        70,619            0        70,619           0       2,119        68,500
 2008                0           0        64,991            0        64,991           0       1,950        63,041
 2009                0           0        60,524            0        60,524           0       1,815        58,709
 2010                0           0        56,870            0        56,870           0       1,706        55,164
 2011                0           0        53,806            0        53,806           0       1,615        52,191
 2012                0           0        51,100            0        51,100           0       1,533        49,567
 2013                0           0        48,544            0        48,544           0       1,456        47,088
 2014                0           0        46,118            0        46,118           0       1,383        44,735
 2015                0           0        43,811            0        43,811           0       1,315        42,496
 2016                0           0        41,621            0        41,621           0       1,248        40,373

 SUB-TOT             0           0       987,413            0       987,413           0      29,622       957,791
 REMAIN              0           0       241,235            0       241,235           0       7,237       233,998
 TOTAL               0           0     1,228,648            0     1,228,648           0      36,859     1,191,789






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                 
 2002          1,500           0      20,000           0        21,500         20,432        20,432        17,151
 2003          6,000           0           0           0         6,000        125,137       145,569       108,126
 2004          6,000           0           0           0         6,000         95,409       240,978        74,541
 2005          6,000           0           0           0         6,000         79,762       320,740        56,383
 2006          7,200           0           0           0         7,200         68,487       389,227        43,812
 2007          7,200           0           0           0         7,200         61,300       450,527        35,492
 2008          7,200           0           0           0         7,200         55,841       506,368        29,263
 2009          7,200           0           0           0         7,200         51,509       557,877        24,432
 2010          7,200           0           0           0         7,200         47,964       605,841        20,593
 2011          7,200           0           0           0         7,200         44,991       650,832        17,484
 2012          7,200           0           0           0         7,200         42,367       693,199        14,904
 2013          7,200           0           0           0         7,200         39,888       733,087        12,702
 2014          7,200           0           0           0         7,200         37,535       770,622        10,820
 2015          7,200           0           0           0         7,200         35,296       805,918         9,210
 2016          7,200           0           0           0         7,200         33,173       839,091         7,835

 SUBTOT       98,700           0      20,000           0       118,700        839,091                     482,748
 REMAIN       51,083           0           0           0        51,083        182,915     1,022,006        30,252
 TOTAL       149,783           0      20,000           0       169,783      1,022,006                     513,000

   LIFE OF EVALUATION IS 22.09 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 213
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     GARY PATTON #2 BP2   (TRENTON-MURFREESBORO)                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.656250            0.656250     16.25                   2.35        5.00% -        70,813
 FINAL   -   1.000000  0.656250            0.656250     16.25                   2.35       10.00% -        21,932
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -         6,843
                                                                                           20.00% -         2,151
                                                                                           25.00% -           681





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER         20,123           0          67          13,206           0          44.148      16.25     2.36
 TOTAL             20,123           0          67          13,206           0          44.148      16.25     2.36

 CUMULATIVE             0           0           0
 ULTIMATE          20,123           0          67





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN        214,598           0       103,968            0       318,566       6,438       3,119       309,009
 TOTAL         214,598           0       103,968            0       318,566       6,438       3,119       309,009






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       53,600           0      25,000           0        78,600        230,409       230,409        21,932
 TOTAL        53,600           0      25,000           0        78,600        230,409                      21,932

   LIFE OF EVALUATION IS 27.75 YEARS.
   FINAL PRODUCTION RATE: 53 BBLS/MO







                                 TENGASCO, INC.                        TABLE 214
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROBABLE
     GUY TOBEY #`1   (KNOX)                                                            UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                     
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO








                                 TENGASCO, INC.                        TABLE 215
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     HAZEL SUTTON #2   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       262,227
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       187,740
 REMARKS -                                                                                 15.00% -       145,163
                                                                                           20.00% -       118,109
                                                                                           25.00% -        99,529





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          18               0           0          15.640       0.00     2.35
 2003     1             0           0          17               0           0          14.978       0.00     2.35
 2004     1             0           0          16               0           0          14.344       0.00     2.35
 2005     1             0           0          16               0           0          13.737       0.00     2.35
 2006     1             0           0          15               0           0          13.155       0.00     2.35
 2007     1             0           0          15               0           0          12.598       0.00     2.35
 2008     1             0           0          13               0           0          12.065       0.00     2.35
 2009     1             0           0          14               0           0          11.554       0.00     2.35
 2010     1             0           0          12               0           0          11.065       0.00     2.35
 2011     1             0           0          12               0           0          10.596       0.00     2.35
 2012     1             0           0          12               0           0          10.147       0.00     2.36
 2013     1             0           0          11               0           0           9.718       0.00     2.35
 2014     1             0           0          11               0           0           9.306       0.00     2.36
 2015     1             0           0          10               0           0           8.912       0.00     2.35
 2016     1             0           0          10               0           0           8.535       0.00     2.35

 SUB-TOTAL              0           0         202               0           0         176.350       0.00     2.35
 REMAINDER              0           0         137               0           0         120.216       0.00     2.35
 TOTAL                  0           0         339               0           0         296.566       0.00     2.35

 CUMULATIVE             0           0          18
 ULTIMATE               0           0         357





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        36,833            0        36,833           0       1,105        35,728
 2003                0           0        35,273            0        35,273           0       1,058        34,215
 2004                0           0        33,780            0        33,780           0       1,014        32,766
 2005                0           0        32,349            0        32,349           0         970        31,379
 2006                0           0        30,980            0        30,980           0         929        30,051
 2007                0           0        29,668            0        29,668           0         891        28,777
 2008                0           0        28,413            0        28,413           0         852        27,561
 2009                0           0        27,209            0        27,209           0         816        26,393
 2010                0           0        26,057            0        26,057           0         782        25,275
 2011                0           0        24,953            0        24,953           0         748        24,205
 2012                0           0        23,898            0        23,898           0         717        23,181
 2013                0           0        22,885            0        22,885           0         687        22,198
 2014                0           0        21,917            0        21,917           0         657        21,260
 2015                0           0        20,988            0        20,988           0         630        20,358
 2016                0           0        20,100            0        20,100           0         603        19,497

 SUB-TOT             0           0       415,303            0       415,303           0      12,459       402,844
 REMAIN              0           0       283,109            0       283,109           0       8,493       274,616
 TOTAL               0           0       698,412            0       698,412           0      20,952       677,460






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         29,728        29,728        28,308
 2003          6,000           0           0           0         6,000         28,215        57,943        24,320
 2004          6,000           0           0           0         6,000         26,766        84,709        20,885
 2005          6,000           0           0           0         6,000         25,379       110,088        17,925
 2006          7,200           0           0           0         7,200         22,851       132,939        14,611
 2007          7,200           0           0           0         7,200         21,577       154,516        12,488
 2008          7,200           0           0           0         7,200         20,361       174,877        10,668
 2009          7,200           0           0           0         7,200         19,193       194,070         9,102
 2010          7,200           0           0           0         7,200         18,075       212,145         7,760
 2011          7,200           0           0           0         7,200         17,005       229,150         6,609
 2012          7,200           0           0           0         7,200         15,981       245,131         5,622
 2013          7,200           0           0           0         7,200         14,998       260,129         4,776
 2014          7,200           0           0           0         7,200         14,060       274,189         4,053
 2015          7,200           0           0           0         7,200         13,158       287,347         3,433
 2016          7,200           0           0           0         7,200         12,297       299,644         2,905

 SUBTOT      103,200           0           0           0       103,200        299,644                     173,465
 REMAIN      162,231           0           0           0       162,231        112,385       412,029        14,275
 TOTAL       265,431           0           0           0       265,431        412,029                     187,740

   LIFE OF EVALUATION IS 37.53 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO






                                 TENGASCO, INC.                        TABLE 216
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   8-T1S-R75E                                            PROVED
     HUGH ROBERTS #1   (REEDSVILLE)                                                    SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        72,039
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        66,848
 REMARKS -                                                                                 15.00% -        62,141
                                                                                           20.00% -        57,864
                                                                                           25.00% -        53,971





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          27               0           0          11.845       0.00     2.35
 2003     1             0           0          32               0           0          14.086       0.00     2.35
 2004     1             0           0          22               0           0           9.656       0.00     2.35
 2005     1             0           0           5               0           0           2.076       0.00     2.35
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          86               0           0          37.663       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          86               0           0          37.663       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          86





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        27,894            0        27,894           0         837        27,057
 2003                0           0        33,172            0        33,172           0         995        32,177
 2004                0           0        22,739            0        22,739           0         682        22,057
 2005                0           0         4,889            0         4,889           0         147         4,742
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        88,694            0        88,694           0       2,661        86,033
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        88,694            0        88,694           0       2,661        86,033






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0           0           0         1,500         25,557        25,557        23,775
 2003          3,000           0           0           0         3,000         29,177        54,734        25,252
 2004          3,000           0           0           0         3,000         19,057        73,791        14,903
 2005            759           0           0           0           759          3,983        77,774         2,918
 2006              0           0           0           0             0              0        77,774             0
 2007              0           0           0           0             0              0        77,774             0
 2008              0           0           0           0             0              0        77,774             0
 2009              0           0           0           0             0              0        77,774             0
 2010              0           0           0           0             0              0        77,774             0
 2011              0           0           0           0             0              0        77,774             0
 2012              0           0           0           0             0              0        77,774             0
 2013              0           0           0           0             0              0        77,774             0
 2014              0           0           0           0             0              0        77,774             0
 2015              0           0           0           0             0              0        77,774             0
 2016              0           0           0           0             0              0        77,774             0

 SUBTOT        8,259           0           0           0         8,259         77,774                      66,848
 REMAIN            0           0           0           0             0              0        77,774             0
 TOTAL         8,259           0           0           0         8,259         77,774                      66,848

   LIFE OF EVALUATION IS 3.25 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 217
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   8-T1S-R75E                                            PROVED
     HUGH ROBERTS #1 BP   (KNOX)                                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       114,271
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        84,541
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO THE KNOX.                                     15.00% -        63,162
                                                                                           20.00% -        47,626
                                                                                           25.00% -        36,219





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0          31               0           0          13.585       0.00     2.35
 2006     1             0           0          36               0           0          15.717       0.00     2.35
 2007     1             0           0          29               0           0          12.852       0.00     2.35
 2008     1             0           0          26               0           0          11.145       0.00     2.35
 2009     1             0           0          23               0           0           9.979       0.00     2.35
 2010     1             0           0          20               0           0           9.116       0.00     2.35
 2011     1             0           0          20               0           0           8.445       0.00     2.36
 2012     1             0           0           6               0           0           2.724       0.00     2.35
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         191               0           0          83.563       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         191               0           0          83.563       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         191





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0        31,993            0        31,993           0         960        31,033
 2006                0           0        37,014            0        37,014           0       1,110        35,904
 2007                0           0        30,266            0        30,266           0         908        29,358
 2008                0           0        26,247            0        26,247           0         788        25,459
 2009                0           0        23,500            0        23,500           0         705        22,795
 2010                0           0        21,468            0        21,468           0         644        20,824
 2011                0           0        19,887            0        19,887           0         596        19,291
 2012                0           0         6,415            0         6,415           0         193         6,222
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       196,790            0       196,790           0       5,904       190,886
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       196,790            0       196,790           0       5,904       190,886






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005          2,000           0      10,000           0        12,000         19,033        19,033        13,042
 2006          3,600           0           0           0         3,600         32,304        51,337        20,691
 2007          3,600           0           0           0         3,600         25,758        77,095        14,924
 2008          3,600           0           0           0         3,600         21,859        98,954        11,461
 2009          3,600           0           0           0         3,600         19,195       118,149         9,108
 2010          3,600           0           0           0         3,600         17,224       135,373         7,397
 2011          3,600           0           0           0         3,600         15,691       151,064         6,099
 2012          1,215           0           0           0         1,215          5,007       156,071         1,819
 2013              0           0           0           0             0              0       156,071             0
 2014              0           0           0           0             0              0       156,071             0
 2015              0           0           0           0             0              0       156,071             0
 2016              0           0           0           0             0              0       156,071             0

 SUBTOT       24,815           0      10,000           0        34,815        156,071                      84,541
 REMAIN            0           0           0           0             0              0       156,071             0
 TOTAL        24,815           0      10,000           0        34,815        156,071                      84,541

   LIFE OF EVALUATION IS 10.34 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 218
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   7-T1S-R75E                                            PROVED
     JEFF JOHNSON #1   (KNOX)                                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        81,147
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        74,961
 REMARKS -                                                                                 15.00% -        69,478
                                                                                           20.00% -        64,605
                                                                                           25.00% -        60,260





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          34               0           0          14.677       0.00     2.35
 2003     1             0           0          26               0           0          11.532       0.00     2.35
 2004     1             0           0          22               0           0           9.671       0.00     2.35
 2005     1             0           0          18               0           0           7.870       0.00     2.35
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         100               0           0          43.750       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         100               0           0          43.750       0.00     2.35

 CUMULATIVE             0           0          39
 ULTIMATE               0           0         139





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        34,563            0        34,563           0       1,037        33,526
 2003                0           0        27,159            0        27,159           0         815        26,344
 2004                0           0        22,776            0        22,776           0         683        22,093
 2005                0           0        18,533            0        18,533           0         556        17,977
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       103,031            0       103,031           0       3,091        99,940
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       103,031            0       103,031           0       3,091        99,940






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          3,000           0           0           0         3,000         30,526        30,526        29,131
 2003          3,000           0           0           0         3,000         23,344        53,870        20,151
 2004          3,000           0           0           0         3,000         19,093        72,963        14,913
 2005          2,794           0           0           0         2,794         15,183        88,146        10,766
 2006              0           0           0           0             0              0        88,146             0
 2007              0           0           0           0             0              0        88,146             0
 2008              0           0           0           0             0              0        88,146             0
 2009              0           0           0           0             0              0        88,146             0
 2010              0           0           0           0             0              0        88,146             0
 2011              0           0           0           0             0              0        88,146             0
 2012              0           0           0           0             0              0        88,146             0
 2013              0           0           0           0             0              0        88,146             0
 2014              0           0           0           0             0              0        88,146             0
 2015              0           0           0           0             0              0        88,146             0
 2016              0           0           0           0             0              0        88,146             0

 SUBTOT       11,794           0           0           0        11,794         88,146                      74,961
 REMAIN            0           0           0           0             0              0        88,146             0
 TOTAL        11,794           0           0           0        11,794         88,146                      74,961

   LIFE OF EVALUATION IS 3.93 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO







                                 TENGASCO, INC.                        TABLE 219
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO - OPERATOR   7-T1S-R75E                                                    PROVED
     JEFF JOHNSON #2   (KNOX)                                                          UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                    
 INITIAL -   0.500000                                                                       5.00% -             0
 FINAL   -   0.500000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 220
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   12-T1S-R74E                                           PROBABLE
     LANGE #1   (KNOX)                                                                 BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.000000                      0.062500                             2.35        5.00% -        18,639
 FINAL   -   0.000000                      0.062500                             2.35       10.00% -        14,747
 REMARKS - CAPITAL INCLUDED TO COMPLETE WELL AND INSTALL FLOWLINE.                         15.00% -        11,901
           RESERVES CLASSIFIED AS PROBABLE BECAUSE TENGASCO IS NOT SURE IF WELL            20.00% -         9,777
           WILL BE HOOKED UP.                                                              25.00% -         8,158





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          27               0           0           1.661       0.00     2.35
 2004     1             0           0          22               0           0           1.375       0.00     2.35
 2005     1             0           0          19               0           0           1.200       0.00     2.35
 2006     1             0           0          17               0           0           1.078       0.00     2.35
 2007     1             0           0          16               0           0           0.987       0.00     2.35
 2008     1             0           0          14               0           0           0.916       0.00     2.36
 2009     1             0           0          14               0           0           0.859       0.00     2.35
 2010     1             0           0          13               0           0           0.802       0.00     2.35
 2011     1             0           0          12               0           0           0.750       0.00     2.35
 2012     1             0           0          11               0           0           0.712       0.00     2.35
 2013     1             0           0           4               0           0           0.199       0.00     2.35
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         169               0           0          10.539       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         169               0           0          10.539       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         169





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0             0            0             0           0           0             0
 2003                0           0         3,912            0         3,912           0         117         3,795
 2004                0           0         3,239            0         3,239           0          98         3,141
 2005                0           0         2,825            0         2,825           0          84         2,741
 2006                0           0         2,538            0         2,538           0          76         2,462
 2007                0           0         2,325            0         2,325           0          70         2,255
 2008                0           0         2,158            0         2,158           0          65         2,093
 2009                0           0         2,022            0         2,022           0          61         1,961
 2010                0           0         1,889            0         1,889           0          56         1,833
 2011                0           0         1,766            0         1,766           0          53         1,713
 2012                0           0         1,677            0         1,677           0          51         1,626
 2013                0           0           469            0           469           0          14           455
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        24,820            0        24,820           0         745        24,075
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        24,820            0        24,820           0         745        24,075






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0          3,795         3,795         3,276
 2004              0           0           0           0             0          3,141         6,936         2,453
 2005              0           0           0           0             0          2,741         9,677         1,937
 2006              0           0           0           0             0          2,462        12,139         1,574
 2007              0           0           0           0             0          2,255        14,394         1,306
 2008              0           0           0           0             0          2,093        16,487         1,097
 2009              0           0           0           0             0          1,961        18,448           930
 2010              0           0           0           0             0          1,833        20,281           787
 2011              0           0           0           0             0          1,713        21,994           665
 2012              0           0           0           0             0          1,626        23,620           572
 2013              0           0           0           0             0            455        24,075           150
 2014              0           0           0           0             0              0        24,075             0
 2015              0           0           0           0             0              0        24,075             0
 2016              0           0           0           0             0              0        24,075             0

 SUBTOT            0           0           0           0             0         24,075                      14,747
 REMAIN            0           0           0           0             0              0        24,075             0
 TOTAL             0           0           0           0             0         24,075                      14,747

   LIFE OF EVALUATION IS 11.29 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO






                                 TENGASCO, INC.                        TABLE 221
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   12-T1S-R74E                                           PROBABLE
     LANGE #1 BP   (TRENTON-SR-MB)                                                     BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   0.000000                      0.062500                             2.35        5.00% -         6,828
 FINAL   -   0.000000                      0.062500                             2.35       10.00% -         3,647
 REMARKS - CAPITAL INCLUDED TO COMPLETE WELL AND INSTALL FLOWLINE.                         15.00% -         1,958
           RESERVES CLASSIFIED AS PROBABLE BECAUSE TENGASCO IS NOT SURE IF WELL            20.00% -         1,056
           WILL BE HOOKED UP.                                                              25.00% -           572





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0          30               0           0           1.858       0.00     2.36
 2014     1             0           0          28               0           0           1.782       0.00     2.36
 2015     1             0           0          19               0           0           1.153       0.00     2.36
 2016     1             0           0          13               0           0           0.810       0.00     2.35

 SUB-TOTAL              0           0          90               0           0           5.603       0.00     2.36
 REMAINDER              0           0           0               0           0           0.022       0.00     2.35
 TOTAL                  0           0          90               0           0           5.625       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          90





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0         4,375            0         4,375           0         131         4,244
 2014                0           0         4,196            0         4,196           0         126         4,070
 2015                0           0         2,717            0         2,717           0          82         2,635
 2016                0           0         1,908            0         1,908           0          57         1,851

 SUB-TOT             0           0        13,196            0        13,196           0         396        12,800
 REMAIN              0           0            51            0            51           0           1            50
 TOTAL               0           0        13,247            0        13,247           0         397        12,850






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0          4,244         4,244         1,331
 2014              0           0           0           0             0          4,070         8,314         1,177
 2015              0           0           0           0             0          2,635        10,949           690
 2016              0           0           0           0             0          1,851        12,800           438

 SUBTOT            0           0           0           0             0         12,800                       3,636
 REMAIN            0           0           0           0             0             50        12,850            11
 TOTAL             0           0           0           0             0         12,850                       3,647

   LIFE OF EVALUATION IS 15.03 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO







                                 TENGASCO, INC.                        TABLE 222
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LAURA J. LAWSON #1   (MURFREESBORO)                                               PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        54,329
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        44,843
 REMARKS -                                                                                 15.00% -        37,913
                                                                                           20.00% -        32,701
                                                                                           25.00% -        28,676





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           8               0           0           6.964       0.00     2.36
 2003     1             0           0           8               0           0           6.616       0.00     2.35
 2004     1             0           0           7               0           0           6.285       0.00     2.35
 2005     1             0           0           7               0           0           5.971       0.00     2.36
 2006     1             0           0           6               0           0           5.672       0.00     2.36
 2007     1             0           0           6               0           0           5.389       0.00     2.35
 2008     1             0           0           6               0           0           5.119       0.00     2.35
 2009     1             0           0           6               0           0           4.863       0.00     2.35
 2010     1             0           0           5               0           0           4.620       0.00     2.36
 2011     1             0           0           5               0           0           4.389       0.00     2.35
 2012     1             0           0           5               0           0           4.170       0.00     2.35
 2013     1             0           0           4               0           0           3.961       0.00     2.35
 2014     1             0           0           4               0           0           3.763       0.00     2.35
 2015     1             0           0           5               0           0           3.575       0.00     2.35
 2016     1             0           0           3               0           0           3.396       0.00     2.35

 SUB-TOTAL              0           0          85               0           0          74.753       0.00     2.36
 REMAINDER              0           0           4               0           0           2.964       0.00     2.35
 TOTAL                  0           0          89               0           0          77.717       0.00     2.36

 CUMULATIVE             0           0           5
 ULTIMATE               0           0          94





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        16,400            0        16,400           0         492        15,908
 2003                0           0        15,581            0        15,581           0         467        15,114
 2004                0           0        14,801            0        14,801           0         444        14,357
 2005                0           0        14,061            0        14,061           0         422        13,639
 2006                0           0        13,359            0        13,359           0         401        12,958
 2007                0           0        12,690            0        12,690           0         381        12,309
 2008                0           0        12,056            0        12,056           0         361        11,695
 2009                0           0        11,453            0        11,453           0         344        11,109
 2010                0           0        10,880            0        10,880           0         326        10,554
 2011                0           0        10,336            0        10,336           0         311        10,025
 2012                0           0         9,820            0         9,820           0         294         9,526
 2013                0           0         9,328            0         9,328           0         280         9,048
 2014                0           0         8,863            0         8,863           0         266         8,597
 2015                0           0         8,419            0         8,419           0         252         8,167
 2016                0           0         7,998            0         7,998           0         240         7,758

 SUB-TOT             0           0       176,045            0       176,045           0       5,281       170,764
 REMAIN              0           0         6,979            0         6,979           0         210         6,769
 TOTAL               0           0       183,024            0       183,024           0       5,491       177,533






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000          9,908         9,908         9,437
 2003          6,000           0           0           0         6,000          9,114        19,022         7,858
 2004          6,000           0           0           0         6,000          8,357        27,379         6,523
 2005          6,000           0           0           0         6,000          7,639        35,018         5,397
 2006          7,200           0           0           0         7,200          5,758        40,776         3,683
 2007          7,200           0           0           0         7,200          5,109        45,885         2,959
 2008          7,200           0           0           0         7,200          4,495        50,380         2,356
 2009          7,200           0           0           0         7,200          3,909        54,289         1,855
 2010          7,200           0           0           0         7,200          3,354        57,643         1,441
 2011          7,200           0           0           0         7,200          2,825        60,468         1,099
 2012          7,200           0           0           0         7,200          2,326        62,794           820
 2013          7,200           0           0           0         7,200          1,848        64,642           589
 2014          7,200           0           0           0         7,200          1,397        66,039           404
 2015          7,200           0           0           0         7,200            967        67,006           253
 2016          7,200           0           0           0         7,200            558        67,564           132

 SUBTOT      103,200           0           0           0       103,200         67,564                      44,806
 REMAIN        6,600           0           0           0         6,600            169        67,733            37
 TOTAL       109,800           0           0           0       109,800         67,733                      44,843

   LIFE OF EVALUATION IS 15.92 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO







                                 TENGASCO, INC.                        TABLE 223
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LAURA J. LAWSON #2   (KNOX)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -        84,949
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -        77,531
 REMARKS -                                                                                 15.00% -        71,300
                                                                                           20.00% -        66,012
                                                                                           25.00% -        61,483





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          28               0           0          18.610       0.00     2.35
 2003     1             0           0          17               0           0          10.978       0.00     2.35
 2004     1             0           0          13               0           0           8.265       0.00     2.35
 2005     1             0           0          10               0           0           6.785       0.00     2.35
 2006     1             0           0           9               0           0           5.830       0.00     2.35
 2007     1             0           0           8               0           0           5.153       0.00     2.35
 2008     1             0           0           7               0           0           4.644       0.00     2.35
 2009     1             0           0           4               0           0           2.959       0.00     2.35
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          96               0           0          63.224       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          96               0           0          63.224       0.00     2.36

 CUMULATIVE             0           0          71
 ULTIMATE               0           0         167





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        43,827            0        43,827           0       1,315        42,512
 2003                0           0        25,853            0        25,853           0         775        25,078
 2004                0           0        19,465            0        19,465           0         584        18,881
 2005                0           0        15,978            0        15,978           0         480        15,498
 2006                0           0        13,728            0        13,728           0         412        13,316
 2007                0           0        12,135            0        12,135           0         364        11,771
 2008                0           0        10,937            0        10,937           0         328        10,609
 2009                0           0         6,968            0         6,968           0         209         6,759
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       148,891            0       148,891           0       4,467       144,424
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       148,891            0       148,891           0       4,467       144,424






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         36,512        36,512        35,009
 2003          6,000           0           0           0         6,000         19,078        55,590        16,500
 2004          6,000           0           0           0         6,000         12,881        68,471        10,074
 2005          6,000           0           0           0         6,000          9,498        77,969         6,721
 2006          7,200           0           0           0         7,200          6,116        84,085         3,918
 2007          7,200           0           0           0         7,200          4,571        88,656         2,650
 2008          7,200           0           0           0         7,200          3,409        92,065         1,790
 2009          4,955           0           0           0         4,955          1,804        93,869           869
 2010              0           0           0           0             0              0        93,869             0
 2011              0           0           0           0             0              0        93,869             0
 2012              0           0           0           0             0              0        93,869             0
 2013              0           0           0           0             0              0        93,869             0
 2014              0           0           0           0             0              0        93,869             0
 2015              0           0           0           0             0              0        93,869             0
 2016              0           0           0           0             0              0        93,869             0

 SUBTOT       50,555           0           0           0        50,555         93,869                      77,531
 REMAIN            0           0           0           0             0              0        93,869             0
 TOTAL        50,555           0           0           0        50,555         93,869                      77,531

   LIFE OF EVALUATION IS 7.69 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO







                                 TENGASCO, INC.                        TABLE 224
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LAURA J. LAWSON #2 BP2   (TRENTON-MURFREESBORO)                                   BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                  
 INITIAL -   1.000000  0.656250            0.656250     16.25                   2.35        5.00% -       199,959
 FINAL   -   1.000000  0.656250            0.656250     16.25                   2.35       10.00% -       113,649
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -        65,685
                                                                                           20.00% -        38,542
                                                                                           25.00% -        22,923





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                 546           0           9             358           0           5.973      16.25     2.35
 2010     1         2,027           0          34           1,330           0          22.164      16.25     2.35
 2011     1         1,795           0          30           1,179           0          19.638      16.25     2.35
 2012     1         1,591           0          26           1,044           0          17.400      16.25     2.35
 2013     1         1,409           0          24             925           0          15.417      16.25     2.35
 2014     1         1,249           0          21             819           0          13.660      16.25     2.35
 2015     1         1,107           0          18             726           0          12.103      16.25     2.35
 2016     1           980           0          16             644           0          10.724      16.25     2.35

 SUB-TOTAL         10,704           0         178           7,025           0         117.079      16.25     2.35
 REMAINDER          2,196           0          37           1,441           0          24.015      16.25     2.35
 TOTAL             12,900           0         215           8,466           0         141.094      16.25     2.35

 CUMULATIVE             0           0           0
 ULTIMATE          12,900           0         215





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009            5,824           0        14,066            0        19,890         175         422        19,293
 2010           21,610           0        52,197            0        73,807         648       1,566        71,593
 2011           19,147           0        46,248            0        65,395         574       1,387        63,434
 2012           16,965           0        40,977            0        57,942         509       1,230        56,203
 2013           15,031           0        36,307            0        51,338         451       1,089        49,798
 2014           13,319           0        32,169            0        45,488         400         965        44,123
 2015           11,800           0        28,502            0        40,302         354         855        39,093
 2016           10,456           0        25,255            0        35,711         314         758        34,639

 SUB-TOT       114,152           0       275,721            0       389,873       3,425       8,272       378,176
 REMAIN         23,414           0        56,555            0        79,969         702       1,696        77,571
 TOTAL         137,566           0       332,276            0       469,842       4,127       9,968       455,747






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009          1,800           0      25,000           0        26,800         -7,507        -7,507        -3,521
 2010          7,200           0           0           0         7,200         64,393        56,886        27,661
 2011          7,200           0           0           0         7,200         56,234       113,120        21,868
 2012          7,200           0           0           0         7,200         49,003       162,123        17,249
 2013          7,200           0           0           0         7,200         42,598       204,721        13,574
 2014          7,200           0           0           0         7,200         36,923       241,644        10,651
 2015          7,200           0           0           0         7,200         31,893       273,537         8,328
 2016          7,200           0           0           0         7,200         27,439       300,976         6,486

 SUBTOT       52,200           0      25,000           0        77,200        300,976                     102,296
 REMAIN       20,216           0           0           0        20,216         57,355       358,331        11,353
 TOTAL        72,416           0      25,000           0        97,416        358,331                     113,649

   LIFE OF EVALUATION IS 17.81 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO







                                 TENGASCO, INC.                        TABLE 225
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LAURA J. LAWSON #3   (KNOX)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                 
 INITIAL -   0.940000                      0.822500                             2.35        5.00% -         8,545
 FINAL   -   0.940000                      0.822500                             2.35       10.00% -         7,782
 REMARKS -                                                                                 15.00% -         7,115
                                                                                           20.00% -         6,529
                                                                                           25.00% -         6,014





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0           4               0           0           3.544       0.00     2.36
 2003     1             0           0           5               0           0           3.544       0.00     2.36
 2004     1             0           0           4               0           0           3.455       0.00     2.35
 2005     1             0           0           4               0           0           3.282       0.00     2.36
 2006     1             0           0           4               0           0           3.118       0.00     2.35
 2007     1             0           0           1               0           0           1.500       0.00     2.36
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          22               0           0          18.443       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          22               0           0          18.443       0.00     2.36

 CUMULATIVE             0           0           2
 ULTIMATE               0           0          24





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002                0           0         8,347            0         8,347           0         250         8,097
 2003                0           0         8,347            0         8,347           0         251         8,096
 2004                0           0         8,136            0         8,136           0         244         7,892
 2005                0           0         7,730            0         7,730           0         232         7,498
 2006                0           0         7,343            0         7,343           0         220         7,123
 2007                0           0         3,533            0         3,533           0         106         3,427
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        43,436            0        43,436           0       1,303        42,133
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        43,436            0        43,436           0       1,303        42,133






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          5,640           0           0           0         5,640          2,457         2,457         2,339
 2003          5,640           0           0           0         5,640          2,456         4,913         2,116
 2004          5,640           0           0           0         5,640          2,252         7,165         1,759
 2005          5,640           0           0           0         5,640          1,858         9,023         1,314
 2006          6,768           0           0           0         6,768            355         9,378           228
 2007          3,384           0           0           0         3,384             43         9,421            26
 2008              0           0           0           0             0              0         9,421             0
 2009              0           0           0           0             0              0         9,421             0
 2010              0           0           0           0             0              0         9,421             0
 2011              0           0           0           0             0              0         9,421             0
 2012              0           0           0           0             0              0         9,421             0
 2013              0           0           0           0             0              0         9,421             0
 2014              0           0           0           0             0              0         9,421             0
 2015              0           0           0           0             0              0         9,421             0
 2016              0           0           0           0             0              0         9,421             0

 SUBTOT       32,712           0           0           0        32,712          9,421                       7,782
 REMAIN            0           0           0           0             0              0         9,421             0
 TOTAL        32,712           0           0           0        32,712          9,421                       7,782

   LIFE OF EVALUATION IS 5.50 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO






                                 TENGASCO, INC.                        TABLE 226
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LAURA J. LAWSON #4   (KNOX)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        23,938
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        28,916
 REMARKS -                                                                                 15.00% -        27,187
                                                                                           20.00% -        24,357
                                                                                           25.00% -        21,686





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0           7               0           0           5.775       0.00     2.35
 2003     1             0           0           6               0           0           5.775       0.00     2.35
 2004     1             0           0           7               0           0           5.629       0.00     2.35
 2005     1             0           0           6               0           0           5.348       0.00     2.35
 2006     1             0           0           6               0           0           5.081       0.00     2.35
 2007     1             0           0           5               0           0           4.826       0.00     2.35
 2008     1             0           0           5               0           0           4.585       0.00     2.35
 2009     1             0           0           5               0           0           4.356       0.00     2.35
 2010     1             0           0           5               0           0           4.138       0.00     2.35
 2011     1             0           0           5               0           0           3.931       0.00     2.36
 2012     1             0           0           4               0           0           3.735       0.00     2.35
 2013     1             0           0           4               0           0           3.548       0.00     2.35
 2014     1             0           0           4               0           0           3.371       0.00     2.35
 2015     1             0           0           3               0           0           3.202       0.00     2.36
 2016     1             0           0           4               0           0           3.042       0.00     2.35

 SUB-TOTAL              0           0          76               0           0          66.342       0.00     2.35
 REMAINDER              0           0          42               0           0          37.325       0.00     2.35
 TOTAL                  0           0         118               0           0         103.667       0.00     2.35

 CUMULATIVE             0           0           3
 ULTIMATE               0           0         121





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        13,600            0        13,600           0         408        13,192
 2003                0           0        13,600            0        13,600           0         408        13,192
 2004                0           0        13,257            0        13,257           0         398        12,859
 2005                0           0        12,595            0        12,595           0         378        12,217
 2006                0           0        11,964            0        11,964           0         358        11,606
 2007                0           0        11,367            0        11,367           0         341        11,026
 2008                0           0        10,798            0        10,798           0         324        10,474
 2009                0           0        10,258            0        10,258           0         308         9,950
 2010                0           0         9,745            0         9,745           0         293         9,452
 2011                0           0         9,258            0         9,258           0         277         8,981
 2012                0           0         8,796            0         8,796           0         264         8,532
 2013                0           0         8,355            0         8,355           0         251         8,104
 2014                0           0         7,937            0         7,937           0         238         7,699
 2015                0           0         7,541            0         7,541           0         226         7,315
 2016                0           0         7,164            0         7,164           0         215         6,949

 SUB-TOT             0           0       156,235            0       156,235           0       4,687       151,548
 REMAIN              0           0        87,900            0        87,900           0       2,637        85,263
 TOTAL               0           0       244,135            0       244,135           0       7,324       236,811






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000          7,192         7,192         6,845
 2003          6,000           0           0           0         6,000          7,192        14,384         6,197
 2004          6,000           0           0           0         6,000          6,859        21,243         5,354
 2005          6,000           0           0           0         6,000          6,217        27,460         4,393
 2006          7,200           0           0           0         7,200          4,406        31,866         2,819
 2007          7,200           0           0           0         7,200          3,826        35,692         2,216
 2008          7,200           0           0           0         7,200          3,274        38,966         1,717
 2009          7,200           0           0           0         7,200          2,750        41,716         1,305
 2010          7,200           0           0           0         7,200          2,252        43,968           968
 2011          7,200           0           0           0         7,200          1,781        45,749           693
 2012          7,200           0           0           0         7,200          1,332        47,081           470
 2013          7,200           0           0           0         7,200            904        47,985           289
 2014          7,200           0           0           0         7,200            499        48,484           145
 2015          7,200           0           0           0         7,200            115        48,599            30
 2016          7,200           0           0           0         7,200           -251        48,348           -58

 SUBTOT      103,200           0           0           0       103,200         48,348                      33,383
 REMAIN      145,689           0           0           0       145,689        -60,426       -12,078        -4,467
 TOTAL       248,889           0           0           0       248,889        -12,078                      28,916

   LIFE OF EVALUATION IS 35.23 YEARS.
   FINAL PRODUCTION RATE: 0.1 MMCF/MO







                            TENGASCO, INC.                             TABLE 227
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR                                                            PROVED
     LAURA J. LAWSON #4 BP   (KNOX)                                                    BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -         5,489
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -           594
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -            63
                                                                                           20.00% -             6
                                                                                           25.00% -             0






                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         116               0           0         101.865       0.00     2.35
 TOTAL                  0           0         116               0           0         101.865       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         116





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       239,893            0       239,893           0       7,197       232,696
 TOTAL               0           0       239,893            0       239,893           0       7,197       232,696






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN      161,400           0      20,000           0       181,400         51,296        51,296           594
 TOTAL       161,400           0      20,000           0       181,400         51,296                         594

   LIFE OF EVALUATION IS 57.67 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO







                                 TENGASCO, INC.                        TABLE 228
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR                                                            PROVED
     LAURA J. LAWSON #5   (STONES RIVER)                                               SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.875000                         16.25                               5.00% -       129,152
 FINAL   -   1.000000  0.875000                         16.25                              10.00% -       112,980
 REMARKS -                                                                                 15.00% -        99,876
                                                                                           20.00% -        89,124
                                                                                           25.00% -        80,198





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1         2,806           0           0           2,455           0           0.000      16.25     0.00
 2003     1         2,902           0           0           2,539           0           0.000      16.25     0.00
 2004     1         2,466           0           0           2,158           0           0.000      16.25     0.00
 2005     1         2,097           0           0           1,835           0           0.000      16.25     0.00
 2006     1         1,782           0           0           1,559           0           0.000      16.25     0.00
 2007     1         1,515           0           0           1,326           0           0.000      16.25     0.00
 2008     1         1,287           0           0           1,126           0           0.000      16.25     0.00
 2009     1         1,095           0           0             958           0           0.000      16.25     0.00
 2010     1           930           0           0             814           0           0.000      16.25     0.00
 2011     1           791           0           0             692           0           0.000      16.25     0.00
 2012     1           178           0           0             156           0           0.000      16.25     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         17,849           0           0          15,618           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             17,849           0           0          15,618           0           0.000      16.25     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          17,849           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           39,894           0             0            0        39,894       1,197           0        38,697
 2003           41,260           0             0            0        41,260       1,238           0        40,022
 2004           35,072           0             0            0        35,072       1,052           0        34,020
 2005           29,810           0             0            0        29,810         894           0        28,916
 2006           25,339           0             0            0        25,339         760           0        24,579
 2007           21,539           0             0            0        21,539         646           0        20,893
 2008           18,307           0             0            0        18,307         550           0        17,757
 2009           15,561           0             0            0        15,561         466           0        15,095
 2010           13,227           0             0            0        13,227         397           0        12,830
 2011           11,244           0             0            0        11,244         338           0        10,906
 2012            2,536           0             0            0         2,536          76           0         2,460
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       253,789           0             0            0       253,789       7,614           0       246,175
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         253,789           0             0            0       253,789       7,614           0       246,175






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          8,000           0           0           0         8,000         30,697        30,697        29,007
 2003          9,600           0           0           0         9,600         30,422        61,119        26,257
 2004          9,600           0           0           0         9,600         24,420        85,539        19,082
 2005          9,600           0           0           0         9,600         19,316       104,855        13,664
 2006          9,600           0           0           0         9,600         14,979       119,834         9,594
 2007          9,600           0           0           0         9,600         11,293       131,127         6,549
 2008          9,600           0           0           0         9,600          8,157       139,284         4,284
 2009          9,600           0           0           0         9,600          5,495       144,779         2,615
 2010          9,600           0           0           0         9,600          3,230       148,009         1,393
 2011          9,600           0           0           0         9,600          1,306       149,315           513
 2012          2,400           0           0           0         2,400             60       149,375            22
 2013              0           0           0           0             0              0       149,375             0
 2014              0           0           0           0             0              0       149,375             0
 2015              0           0           0           0             0              0       149,375             0
 2016              0           0           0           0             0              0       149,375             0

 SUBTOT       96,800           0           0           0        96,800        149,375                     112,980
 REMAIN            0           0           0           0             0              0       149,375             0
 TOTAL        96,800           0           0           0        96,800        149,375                     112,980

   LIFE OF EVALUATION IS 10.25 YEARS.
   FINAL PRODUCTION RATE: 59 BBLS/MO






                                 TENGASCO, INC.                        TABLE 229
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #1   (KNOX)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.750000                             2.35        5.00% -       132,855
 FINAL   -   1.000000                      0.750000                             2.35       10.00% -       121,693
 REMARKS -                                                                                 15.00% -       112,133
                                                                                           20.00% -       103,896
                                                                                           25.00% -        96,756





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0          36               0           0          26.951       0.00     2.35
 2003     1             0           0          21               0           0          15.541       0.00     2.36
 2004     1             0           0          16               0           0          12.178       0.00     2.36
 2005     1             0           0          14               0           0          10.356       0.00     2.35
 2006     1             0           0          12               0           0           9.168       0.00     2.35
 2007     1             0           0           7               0           0           5.364       0.00     2.35
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         106               0           0          79.558       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         106               0           0          79.558       0.00     2.35

 CUMULATIVE             0           0         113
 ULTIMATE               0           0         219





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        63,469            0        63,469           0       1,904        61,565
 2003                0           0        36,600            0        36,600           0       1,098        35,502
 2004                0           0        28,680            0        28,680           0         860        27,820
 2005                0           0        24,389            0        24,389           0         732        23,657
 2006                0           0        21,591            0        21,591           0         648        20,943
 2007                0           0        12,633            0        12,633           0         379        12,254
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       187,362            0       187,362           0       5,621       181,741
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       187,362            0       187,362           0       5,621       181,741






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         55,565        55,565        53,339
 2003          6,000           0           0           0         6,000         29,502        85,067        25,496
 2004          6,000           0           0           0         6,000         21,820       106,887        17,053
 2005          6,000           0           0           0         6,000         17,657       124,544        12,484
 2006          7,200           0           0           0         7,200         13,743       138,287         8,795
 2007          4,573           0           0           0         4,573          7,681       145,968         4,526
 2008              0           0           0           0             0              0       145,968             0
 2009              0           0           0           0             0              0       145,968             0
 2010              0           0           0           0             0              0       145,968             0
 2011              0           0           0           0             0              0       145,968             0
 2012              0           0           0           0             0              0       145,968             0
 2013              0           0           0           0             0              0       145,968             0
 2014              0           0           0           0             0              0       145,968             0
 2015              0           0           0           0             0              0       145,968             0
 2016              0           0           0           0             0              0       145,968             0

 SUBTOT       35,773           0           0           0        35,773        145,968                     121,693
 REMAIN            0           0           0           0             0              0       145,968             0
 TOTAL        35,773           0           0           0        35,773        145,968                     121,693

   LIFE OF EVALUATION IS 5.64 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO






                                 TENGASCO, INC.                        TABLE 230
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #2   (STONES RIVER)                                                     SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000  0.750000                         16.25                               5.00% -         8,300
 FINAL   -   1.000000  0.750000                         16.25                              10.00% -         7,863
 REMARKS -                                                                                 15.00% -         7,452
                                                                                           20.00% -         7,065
                                                                                           25.00% -         6,701





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1           534           0           0             400           0           0.000      16.25     0.00
 2003     1         1,155           0           0             867           0           0.000      16.25     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          1,689           0           0           1,267           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              1,689           0           0           1,267           0           0.000      16.25     0.00

 CUMULATIVE        39,954           0           0
 ULTIMATE          41,643           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002            6,505           0             0            0         6,505         195           0         6,310
 2003           14,076           0             0            0        14,076         422           0        13,654
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        20,581           0             0            0        20,581         617           0        19,964
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          20,581           0             0            0        20,581         617           0        19,964






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          2,400           0           0           0         2,400          3,910         3,910         3,586
 2003          8,800           0           0           0         8,800          4,854         8,764         4,277
 2004              0           0           0           0             0              0         8,764             0
 2005              0           0           0           0             0              0         8,764             0
 2006              0           0           0           0             0              0         8,764             0
 2007              0           0           0           0             0              0         8,764             0
 2008              0           0           0           0             0              0         8,764             0
 2009              0           0           0           0             0              0         8,764             0
 2010              0           0           0           0             0              0         8,764             0
 2011              0           0           0           0             0              0         8,764             0
 2012              0           0           0           0             0              0         8,764             0
 2013              0           0           0           0             0              0         8,764             0
 2014              0           0           0           0             0              0         8,764             0
 2015              0           0           0           0             0              0         8,764             0
 2016              0           0           0           0             0              0         8,764             0

 SUBTOT       11,200           0           0           0        11,200          8,764                       7,863
 REMAIN            0           0           0           0             0              0         8,764             0
 TOTAL        11,200           0           0           0        11,200          8,764                       7,863

   LIFE OF EVALUATION IS 1.92 YEARS.
   FINAL PRODUCTION RATE: 68 BBLS/MO





                                 TENGASCO, INC.                        TABLE 231
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #2 BP   (TRENTON-STONES RIVER)                                          BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.750000                             2.35        5.00% -        97,030
 FINAL   -   1.000000                      0.750000                             2.35       10.00% -        79,337
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -        65,163
                                                                                           20.00% -        53,750
                                                                                           25.00% -        44,515





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           3               0           0           2.250       0.00     2.35
 2004     1             0           0          31               0           0          22.965       0.00     2.35
 2005     1             0           0          23               0           0          17.425       0.00     2.36
 2006     1             0           0          18               0           0          13.696       0.00     2.36
 2007     1             0           0          15               0           0          11.061       0.00     2.35
 2008     1             0           0          12               0           0           9.128       0.00     2.35
 2009     1             0           0           1               0           0           0.725       0.00     2.35
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         103               0           0          77.250       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         103               0           0          77.250       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         103





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0         5,298            0         5,298           0         159         5,139
 2004                0           0        54,082            0        54,082           0       1,622        52,460
 2005                0           0        41,037            0        41,037           0       1,232        39,805
 2006                0           0        32,253            0        32,253           0         967        31,286
 2007                0           0        26,048            0        26,048           0         782        25,266
 2008                0           0        21,498            0        21,498           0         644        20,854
 2009                0           0         1,708            0         1,708           0          52         1,656
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       181,924            0       181,924           0       5,458       176,466
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       181,924            0       181,924           0       5,458       176,466






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003            600           0      20,000           0        20,600        -15,461       -15,461       -12,722
 2004          7,200           0           0           0         7,200         45,260        29,799        35,400
 2005          7,200           0           0           0         7,200         32,605        62,404        23,078
 2006          7,200           0           0           0         7,200         24,086        86,490        15,430
 2007          7,200           0           0           0         7,200         18,066       104,556        10,476
 2008          7,200           0           0           0         7,200         13,654       118,210         7,166
 2009            631           0           0           0           631          1,025       119,235           509
 2010              0           0           0           0             0              0       119,235             0
 2011              0           0           0           0             0              0       119,235             0
 2012              0           0           0           0             0              0       119,235             0
 2013              0           0           0           0             0              0       119,235             0
 2014              0           0           0           0             0              0       119,235             0
 2015              0           0           0           0             0              0       119,235             0
 2016              0           0           0           0             0              0       119,235             0

 SUBTOT       37,231           0      20,000           0        57,231        119,235                      79,337
 REMAIN            0           0           0           0             0              0       119,235             0
 TOTAL        37,231           0      20,000           0        57,231        119,235                      79,337

   LIFE OF EVALUATION IS 7.09 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO








                                 TENGASCO, INC.                        TABLE 232
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #3   (KNOX)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -        81,356
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -        64,653
 REMARKS -                                                                                 15.00% -        53,139
                                                                                           20.00% -        44,863
                                                                                           25.00% -        38,694





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0          12               0           0           7.829       0.00     2.35
 2003     1             0           0          12               0           0           7.829       0.00     2.35
 2004     1             0           0          11               0           0           7.631       0.00     2.35
 2005     1             0           0          12               0           0           7.250       0.00     2.35
 2006     1             0           0          10               0           0           6.887       0.00     2.35
 2007     1             0           0          10               0           0           6.543       0.00     2.36
 2008     1             0           0           9               0           0           6.216       0.00     2.35
 2009     1             0           0           9               0           0           5.905       0.00     2.36
 2010     1             0           0           9               0           0           5.610       0.00     2.35
 2011     1             0           0           8               0           0           5.329       0.00     2.35
 2012     1             0           0           8               0           0           5.063       0.00     2.36
 2013     1             0           0           7               0           0           4.810       0.00     2.36
 2014     1             0           0           7               0           0           4.569       0.00     2.36
 2015     1             0           0           7               0           0           4.341       0.00     2.35
 2016     1             0           0           6               0           0           4.124       0.00     2.35

 SUB-TOTAL              0           0         137               0           0          89.936       0.00     2.35
 REMAINDER              0           0          26               0           0          16.941       0.00     2.35
 TOTAL                  0           0         163               0           0         106.877       0.00     2.35

 CUMULATIVE             0           0           5
 ULTIMATE               0           0         168





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        18,436            0        18,436           0         553        17,883
 2003                0           0        18,436            0        18,436           0         553        17,883
 2004                0           0        17,972            0        17,972           0         539        17,433
 2005                0           0        17,073            0        17,073           0         512        16,561
 2006                0           0        16,219            0        16,219           0         487        15,732
 2007                0           0        15,408            0        15,408           0         462        14,946
 2008                0           0        14,638            0        14,638           0         439        14,199
 2009                0           0        13,906            0        13,906           0         418        13,488
 2010                0           0        13,210            0        13,210           0         396        12,814
 2011                0           0        12,550            0        12,550           0         376        12,174
 2012                0           0        11,923            0        11,923           0         358        11,565
 2013                0           0        11,326            0        11,326           0         340        10,986
 2014                0           0        10,760            0        10,760           0         323        10,437
 2015                0           0        10,223            0        10,223           0         306         9,917
 2016                0           0         9,711            0         9,711           0         292         9,419

 SUB-TOT             0           0       211,791            0       211,791           0       6,354       205,437
 REMAIN              0           0        39,896            0        39,896           0       1,197        38,699
 TOTAL               0           0       251,687            0       251,687           0       7,551       244,136






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          6,000           0           0           0         6,000         11,883        11,883        11,310
 2003          6,000           0           0           0         6,000         11,883        23,766        10,239
 2004          6,000           0           0           0         6,000         11,433        35,199         8,922
 2005          6,000           0           0           0         6,000         10,561        45,760         7,461
 2006          7,200           0           0           0         7,200          8,532        54,292         5,457
 2007          7,200           0           0           0         7,200          7,746        62,038         4,485
 2008          7,200           0           0           0         7,200          6,999        69,037         3,668
 2009          7,200           0           0           0         7,200          6,288        75,325         2,984
 2010          7,200           0           0           0         7,200          5,614        80,939         2,411
 2011          7,200           0           0           0         7,200          4,974        85,913         1,934
 2012          7,200           0           0           0         7,200          4,365        90,278         1,536
 2013          7,200           0           0           0         7,200          3,786        94,064         1,207
 2014          7,200           0           0           0         7,200          3,237        97,301           934
 2015          7,200           0           0           0         7,200          2,717       100,018           710
 2016          7,200           0           0           0         7,200          2,219       102,237           524

 SUBTOT      103,200           0           0           0       103,200        102,237                      63,782
 REMAIN       34,200           0           0           0        34,200          4,499       106,736           871
 TOTAL       137,400           0           0           0       137,400        106,736                      64,653

   LIFE OF EVALUATION IS 19.75 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO






                                 TENGASCO, INC.                        TABLE 233
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #3 BP1   (KNOX)                                                         BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       363,984
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       287,075
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -       232,656
                                                                                           20.00% -       192,571
                                                                                           25.00% -       161,992





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          81               0           0          53.472       0.00     2.35
 2004     1             0           0          51               0           0          32.986       0.00     2.36
 2005     1             0           0          38               0           0          25.138       0.00     2.35
 2006     1             0           0          32               0           0          20.757       0.00     2.35
 2007     1             0           0          27               0           0          17.896       0.00     2.36
 2008     1             0           0          24               0           0          15.855       0.00     2.35
 2009     1             0           0          22               0           0          14.312       0.00     2.35
 2010     1             0           0          20               0           0          13.097       0.00     2.35
 2011     1             0           0          18               0           0          12.111       0.00     2.35
 2012     1             0           0          18               0           0          11.292       0.00     2.35
 2013     1             0           0          16               0           0          10.599       0.00     2.35
 2014     1             0           0          15               0           0           9.753       0.00     2.35
 2015     1             0           0          13               0           0           9.011       0.00     2.35
 2016     1             0           0          13               0           0           8.561       0.00     2.35

 SUB-TOTAL              0           0         388               0           0         254.840       0.00     2.35
 REMAINDER              0           0          14               0           0           9.080       0.00     2.35
 TOTAL                  0           0         402               0           0         263.920       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         402





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       125,926            0       125,926           0       3,778       122,148
 2004                0           0        77,683            0        77,683           0       2,330        75,353
 2005                0           0        59,201            0        59,201           0       1,776        57,425
 2006                0           0        48,883            0        48,883           0       1,467        47,416
 2007                0           0        42,145            0        42,145           0       1,264        40,881
 2008                0           0        37,338            0        37,338           0       1,120        36,218
 2009                0           0        33,704            0        33,704           0       1,011        32,693
 2010                0           0        30,844            0        30,844           0         926        29,918
 2011                0           0        28,521            0        28,521           0         855        27,666
 2012                0           0        26,593            0        26,593           0         798        25,795
 2013                0           0        24,961            0        24,961           0         749        24,212
 2014                0           0        22,968            0        22,968           0         689        22,279
 2015                0           0        21,221            0        21,221           0         637        20,584
 2016                0           0        20,161            0        20,161           0         604        19,557

 SUB-TOT             0           0       600,149            0       600,149           0      18,004       582,145
 REMAIN              0           0        21,384            0        21,384           0         642        20,742
 TOTAL               0           0       621,533            0       621,533           0      18,646       602,887






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0      20,000           0        20,000        -20,000       -20,000       -19,917
 2003          6,000           0           0           0         6,000        116,148        96,148       100,664
 2004          6,000           0           0           0         6,000         69,353       165,501        54,251
 2005          6,000           0           0           0         6,000         51,425       216,926        36,380
 2006          7,200           0           0           0         7,200         40,216       257,142        25,743
 2007          7,200           0           0           0         7,200         33,681       290,823        19,510
 2008          7,200           0           0           0         7,200         29,018       319,841        15,213
 2009          7,200           0           0           0         7,200         25,493       345,334        12,097
 2010          7,200           0           0           0         7,200         22,718       368,052         9,757
 2011          7,200           0           0           0         7,200         20,466       388,518         7,956
 2012          7,200           0           0           0         7,200         18,595       407,113         6,543
 2013          7,200           0           0           0         7,200         17,012       424,125         5,418
 2014          7,200           0           0           0         7,200         15,079       439,204         4,352
 2015          7,200           0           0           0         7,200         13,384       452,588         3,493
 2016          7,200           0           0           0         7,200         12,357       464,945         2,919

 SUBTOT       97,200           0      20,000           0       117,200        464,945                     284,379
 REMAIN        8,063           0           0           0         8,063         12,679       477,624         2,696
 TOTAL       105,263           0      20,000           0       125,263        477,624                     287,075

   LIFE OF EVALUATION IS 16.12 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 234
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #3 BP2   (TRENTON)                                                      BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                  
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -           484
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -            88
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -           -15
                                                                                           20.00% -           -30
                                                                                           25.00% -           -24





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0          22               0           0          14.438       0.00     2.35
 TOTAL                  0           0          22               0           0          14.438       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          22





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0        34,000            0        34,000           0       1,020        32,980
 TOTAL               0           0        34,000            0        34,000           0       1,020        32,980






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       11,218           0      20,000           0        31,218          1,762         1,762            88
 TOTAL        11,218           0      20,000           0        31,218          1,762                          88

   LIFE OF EVALUATION IS 17.72 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO






                                 TENGASCO, INC.                        TABLE 235
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     PAUL REED #4   (KNOX)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                             
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -     1,200,452
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       900,327
 REMARKS -                                                                                 15.00% -       728,334
                                                                                           20.00% -       617,671
                                                                                           25.00% -       540,205





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0         121               0           0         106.196       0.00     2.35
 2003     1             0           0          81               0           0          70.335       0.00     2.35
 2004     1             0           0          64               0           0          56.594       0.00     2.35
 2005     1             0           0          56               0           0          48.701       0.00     2.35
 2006     1             0           0          50               0           0          43.405       0.00     2.35
 2007     1             0           0          45               0           0          39.535       0.00     2.35
 2008     1             0           0          42               0           0          36.545       0.00     2.35
 2009     1             0           0          39               0           0          34.146       0.00     2.36
 2010     1             0           0          36               0           0          32.165       0.00     2.35
 2011     1             0           0          35               0           0          30.490       0.00     2.36
 2012     1             0           0          33               0           0          28.966       0.00     2.35
 2013     1             0           0          32               0           0          27.518       0.00     2.36
 2014     1             0           0          30               0           0          26.142       0.00     2.36
 2015     1             0           0          28               0           0          24.835       0.00     2.35
 2016     1             0           0          27               0           0          23.593       0.00     2.35

 SUB-TOTAL              0           0         719               0           0         629.166       0.00     2.35
 REMAINDER              0           0         299               0           0         261.478       0.00     2.36
 TOTAL                  0           0       1,018               0           0         890.644       0.00     2.35

 CUMULATIVE             0           0         192
 ULTIMATE               0           0       1,210





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0       250,093            0       250,093           0       7,503       242,590
 2003                0           0       165,638            0       165,638           0       4,969       160,669
 2004                0           0       133,278            0       133,278           0       3,998       129,280
 2005                0           0       114,691            0       114,691           0       3,441       111,250
 2006                0           0       102,219            0       102,219           0       3,067        99,152
 2007                0           0        93,104            0        93,104           0       2,793        90,311
 2008                0           0        86,064            0        86,064           0       2,582        83,482
 2009                0           0        80,413            0        80,413           0       2,412        78,001
 2010                0           0        75,749            0        75,749           0       2,272        73,477
 2011                0           0        71,804            0        71,804           0       2,155        69,649
 2012                0           0        68,215            0        68,215           0       2,046        66,169
 2013                0           0        64,805            0        64,805           0       1,944        62,861
 2014                0           0        61,564            0        61,564           0       1,847        59,717
 2015                0           0        58,486            0        58,486           0       1,755        56,731
 2016                0           0        55,562            0        55,562           0       1,667        53,895

 SUB-TOT             0           0     1,481,685            0     1,481,685           0      44,451     1,437,234
 REMAIN              0           0       615,781            0       615,781           0      18,473       597,308
 TOTAL               0           0     2,097,466            0     2,097,466           0      62,924     2,034,542






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          6,000           0           0           0         6,000        236,590       236,590       226,360
 2003          6,000           0           0           0         6,000        154,669       391,259       133,570
 2004          6,000           0           0           0         6,000        123,280       514,539        96,294
 2005          6,000           0           0           0         6,000        105,250       619,789        74,390
 2006          7,200           0           0           0         7,200         91,952       711,741        58,818
 2007          7,200           0           0           0         7,200         83,111       794,852        48,117
 2008          7,200           0           0           0         7,200         76,282       871,134        39,973
 2009          7,200           0           0           0         7,200         70,801       941,935        33,581
 2010          7,200           0           0           0         7,200         66,277     1,008,212        28,454
 2011          7,200           0           0           0         7,200         62,449     1,070,661        24,268
 2012          7,200           0           0           0         7,200         58,969     1,129,630        20,744
 2013          7,200           0           0           0         7,200         55,661     1,185,291        17,724
 2014          7,200           0           0           0         7,200         52,517     1,237,808        15,138
 2015          7,200           0           0           0         7,200         49,531     1,287,339        12,924
 2016          7,200           0           0           0         7,200         46,695     1,334,034        11,029

 SUBTOT      103,200           0           0           0       103,200      1,334,034                     841,384
 REMAIN      122,879           0           0           0       122,879        474,429     1,808,463        58,943
 TOTAL       226,079           0           0           0       226,079      1,808,463                     900,327

   LIFE OF EVALUATION IS 32.07 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO







                                 TENGASCO, INC.                        TABLE 236
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     PAUL REED #4 BP1   (KNOX)                                                         BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                             
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -     1,427,994
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -     1,022,112
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -       791,233
                                                                                           20.00% -       641,947
                                                                                           25.00% -       536,624





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0         175               0           0         153.542       0.00     2.35
 2004     1             0           0         101               0           0          87.706       0.00     2.36
 2005     1             0           0          78               0           0          68.634       0.00     2.35
 2006     1             0           0          67               0           0          58.333       0.00     2.36
 2007     1             0           0          59               0           0          51.623       0.00     2.35
 2008     1             0           0          53               0           0          46.804       0.00     2.35
 2009     1             0           0          50               0           0          43.125       0.00     2.35
 2010     1             0           0          46               0           0          40.198       0.00     2.35
 2011     1             0           0          43               0           0          37.797       0.00     2.35
 2012     1             0           0          41               0           0          35.779       0.00     2.35
 2013     1             0           0          38               0           0          33.985       0.00     2.35
 2014     1             0           0          37               0           0          32.285       0.00     2.35
 2015     1             0           0          35               0           0          30.671       0.00     2.36
 2016     1             0           0          34               0           0          29.137       0.00     2.36

 SUB-TOTAL              0           0         857               0           0         749.619       0.00     2.36
 REMAINDER              0           0         419               0           0         366.879       0.00     2.36
 TOTAL                  0           0       1,276               0           0       1,116.498       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0       1,276





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0             0            0             0           0           0             0
 2003                0           0       361,592            0       361,592           0      10,848       350,744
 2004                0           0       206,547            0       206,547           0       6,196       200,351
 2005                0           0       161,634            0       161,634           0       4,849       156,785
 2006                0           0       137,375            0       137,375           0       4,121       133,254
 2007                0           0       121,572            0       121,572           0       3,648       117,924
 2008                0           0       110,223            0       110,223           0       3,306       106,917
 2009                0           0       101,560            0       101,560           0       3,047        98,513
 2010                0           0        94,667            0        94,667           0       2,840        91,827
 2011                0           0        89,011            0        89,011           0       2,670        86,341
 2012                0           0        84,260            0        84,260           0       2,528        81,732
 2013                0           0        80,034            0        80,034           0       2,401        77,633
 2014                0           0        76,032            0        76,032           0       2,281        73,751
 2015                0           0        72,230            0        72,230           0       2,167        70,063
 2016                0           0        68,619            0        68,619           0       2,059        66,560

 SUB-TOT             0           0     1,765,356            0     1,765,356           0      52,961     1,712,395
 REMAIN              0           0       864,001            0       864,001           0      25,920       838,081
 TOTAL               0           0     2,629,357            0     2,629,357           0      78,881     2,550,476






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                
 2002              0           0      20,000           0        20,000        -20,000       -20,000       -19,917
 2003          6,000           0           0           0         6,000        344,744       324,744       299,415
 2004          6,000           0           0           0         6,000        194,351       519,095       151,982
 2005          6,000           0           0           0         6,000        150,785       669,880       106,629
 2006          7,200           0           0           0         7,200        126,054       795,934        80,655
 2007          7,200           0           0           0         7,200        110,724       906,658        64,115
 2008          7,200           0           0           0         7,200         99,717     1,006,375        52,260
 2009          7,200           0           0           0         7,200         91,313     1,097,688        43,314
 2010          7,200           0           0           0         7,200         84,627     1,182,315        36,335
 2011          7,200           0           0           0         7,200         79,141     1,261,456        30,756
 2012          7,200           0           0           0         7,200         74,532     1,335,988        26,218
 2013          7,200           0           0           0         7,200         70,433     1,406,421        22,428
 2014          7,200           0           0           0         7,200         66,551     1,472,972        19,183
 2015          7,200           0           0           0         7,200         62,863     1,535,835        16,403
 2016          7,200           0           0           0         7,200         59,360     1,595,195        14,020

 SUBTOT       97,200           0      20,000           0       117,200      1,595,195                     943,796
 REMAIN      152,551           0           0           0       152,551        685,530     2,280,725        78,316
 TOTAL       249,751           0      20,000           0       269,751      2,280,725                   1,022,112

   LIFE OF EVALUATION IS 36.19 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO








                                 TENGASCO, INC.                        TABLE 237
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     PAUL REED #4 BP2   (TRENTON)                                                      BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -           769
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -           111
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -            16
                                                                                           20.00% -             2
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0          17               0           0          14.875       0.00     2.36
 TOTAL                  0           0          17               0           0          14.875       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          17





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0        35,031            0        35,031           0       1,051        33,980
 TOTAL               0           0        35,031            0        35,031           0       1,051        33,980






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN        8,668           0      20,000           0        28,668          5,312         5,312           111
 TOTAL         8,668           0      20,000           0        28,668          5,312                         111

   LIFE OF EVALUATION IS 37.45 YEARS.






                                 TENGASCO, INC.                        TABLE 238
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #5   (STONES RIVER)                                                     PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000  0.875000                         16.25                               5.00% -       810,651
 FINAL   -   1.000000  0.875000                         16.25                              10.00% -       665,654
 REMARKS -                                                                                 15.00% -       562,495
                                                                                           20.00% -       486,139
                                                                                           25.00% -       427,699





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1        12,208           0           0          10,682           0           0.000      16.25     0.00
 2003     1        10,621           0           0           9,293           0           0.000      16.25     0.00
 2004     1         9,240           0           0           8,085           0           0.000      16.25     0.00
 2005     1         8,039           0           0           7,034           0           0.000      16.25     0.00
 2006     1         6,993           0           0           6,120           0           0.000      16.25     0.00
 2007     1         6,085           0           0           5,324           0           0.000      16.25     0.00
 2008     1         5,294           0           0           4,632           0           0.000      16.25     0.00
 2009     1         4,605           0           0           4,030           0           0.000      16.25     0.00
 2010     1         4,007           0           0           3,505           0           0.000      16.25     0.00
 2011     1         3,486           0           0           3,051           0           0.000      16.25     0.00
 2012     1         3,033           0           0           2,653           0           0.000      16.25     0.00
 2013     1         2,638           0           0           2,309           0           0.000      16.25     0.00
 2014     1         2,295           0           0           2,008           0           0.000      16.25     0.00
 2015     1         1,998           0           0           1,748           0           0.000      16.25     0.00
 2016     1         1,737           0           0           1,520           0           0.000      16.25     0.00

 SUB-TOTAL         82,279           0           0          71,994           0           0.000      16.25     0.00
 REMAINDER          6,644           0           0           5,813           0           0.000      16.25     0.00
 TOTAL             88,923           0           0          77,807           0           0.000      16.25     0.00

 CUMULATIVE        54,807           0           0
 ULTIMATE         143,730           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002          173,580           0             0            0       173,580       5,207           0       168,373
 2003          151,015           0             0            0       151,015       4,531           0       146,484
 2004          131,383           0             0            0       131,383       3,941           0       127,442
 2005          114,303           0             0            0       114,303       3,429           0       110,874
 2006           99,443           0             0            0        99,443       2,984           0        96,459
 2007           86,516           0             0            0        86,516       2,595           0        83,921
 2008           75,269           0             0            0        75,269       2,258           0        73,011
 2009           65,484           0             0            0        65,484       1,965           0        63,519
 2010           56,971           0             0            0        56,971       1,709           0        55,262
 2011           49,565           0             0            0        49,565       1,487           0        48,078
 2012           43,121           0             0            0        43,121       1,294           0        41,827
 2013           37,516           0             0            0        37,516       1,125           0        36,391
 2014           32,638           0             0            0        32,638         979           0        31,659
 2015           28,396           0             0            0        28,396         852           0        27,544
 2016           24,704           0             0            0        24,704         741           0        23,963

 SUB-TOT     1,169,904           0             0            0     1,169,904      35,097           0     1,134,807
 REMAIN         94,464           0             0            0        94,464       2,834           0        91,630
 TOTAL       1,264,368           0             0            0     1,264,368      37,931           0     1,226,437






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          9,600           0           0           0         9,600        158,773       158,773       151,307
 2003          9,600           0           0           0         9,600        136,884       295,657       118,083
 2004          9,600           0           0           0         9,600        117,842       413,499        92,023
 2005          9,600           0           0           0         9,600        101,274       514,773        71,589
 2006          9,600           0           0           0         9,600         86,859       601,632        55,580
 2007          9,600           0           0           0         9,600         74,321       675,953        43,051
 2008          9,600           0           0           0         9,600         63,411       739,364        33,250
 2009          9,600           0           0           0         9,600         53,919       793,283        25,594
 2010          9,600           0           0           0         9,600         45,662       838,945        19,621
 2011          9,600           0           0           0         9,600         38,478       877,423        14,967
 2012          9,600           0           0           0         9,600         32,227       909,650        11,348
 2013          9,600           0           0           0         9,600         26,791       936,441         8,541
 2014          9,600           0           0           0         9,600         22,059       958,500         6,366
 2015          9,600           0           0           0         9,600         17,944       976,444         4,688
 2016          9,600           0           0           0         9,600         14,363       990,807         3,397

 SUBTOT      144,000           0           0           0       144,000        990,807                     659,405
 REMAIN       58,400           0           0           0        58,400         33,230     1,024,037         6,249
 TOTAL       202,400           0           0           0       202,400      1,024,037                     665,654

   LIFE OF EVALUATION IS 21.08 YEARS.
   FINAL PRODUCTION RATE: 58 BBLS/MO







                                 TENGASCO, INC.                        TABLE 239
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR                                                            PROVED
     PAUL REED #6   (KNOX)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       582,707
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       424,208
 REMARKS -                                                                                 15.00% -       329,505
                                                                                           20.00% -       268,248
                                                                                           25.00% -       225,935





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          37               0           0          32.137       0.00     2.35
 2003     1             0           0          35               0           0          30.530       0.00     2.35
 2004     1             0           0          33               0           0          29.003       0.00     2.35
 2005     1             0           0          31               0           0          27.553       0.00     2.35
 2006     1             0           0          30               0           0          26.176       0.00     2.35
 2007     1             0           0          29               0           0          24.867       0.00     2.35
 2008     1             0           0          27               0           0          23.623       0.00     2.35
 2009     1             0           0          25               0           0          22.442       0.00     2.35
 2010     1             0           0          25               0           0          21.320       0.00     2.35
 2011     1             0           0          23               0           0          20.254       0.00     2.35
 2012     1             0           0          22               0           0          19.241       0.00     2.35
 2013     1             0           0          21               0           0          18.279       0.00     2.36
 2014     1             0           0          19               0           0          17.365       0.00     2.35
 2015     1             0           0          19               0           0          16.497       0.00     2.35
 2016     1             0           0          18               0           0          15.672       0.00     2.35

 SUB-TOTAL              0           0         394               0           0         344.959       0.00     2.35
 REMAINDER              0           0         127               0           0         111.082       0.00     2.36
 TOTAL                  0           0         521               0           0         456.041       0.00     2.35

 CUMULATIVE             0           0          22
 ULTIMATE               0           0         543





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0        75,682            0        75,682           0       2,270        73,412
 2003                0           0        71,898            0        71,898           0       2,157        69,741
 2004                0           0        68,302            0        68,302           0       2,049        66,253
 2005                0           0        64,888            0        64,888           0       1,947        62,941
 2006                0           0        61,643            0        61,643           0       1,849        59,794
 2007                0           0        58,562            0        58,562           0       1,757        56,805
 2008                0           0        55,633            0        55,633           0       1,669        53,964
 2009                0           0        52,851            0        52,851           0       1,586        51,265
 2010                0           0        50,209            0        50,209           0       1,506        48,703
 2011                0           0        47,698            0        47,698           0       1,431        46,267
 2012                0           0        45,314            0        45,314           0       1,359        43,955
 2013                0           0        43,048            0        43,048           0       1,292        41,756
 2014                0           0        40,895            0        40,895           0       1,227        39,668
 2015                0           0        38,851            0        38,851           0       1,165        37,686
 2016                0           0        36,908            0        36,908           0       1,107        35,801

 SUB-TOT             0           0       812,382            0       812,382           0      24,371       788,011
 REMAIN              0           0       261,597            0       261,597           0       7,848       253,749
 TOTAL               0           0     1,073,979            0     1,073,979           0      32,219     1,041,760






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         67,412        67,412        64,193
 2003          6,000           0           0           0         6,000         63,741       131,153        54,945
 2004          6,000           0           0           0         6,000         60,253       191,406        47,015
 2005          6,000           0           0           0         6,000         56,941       248,347        40,219
 2006          7,200           0           0           0         7,200         52,594       300,941        33,628
 2007          7,200           0           0           0         7,200         49,605       350,546        28,710
 2008          7,200           0           0           0         7,200         46,764       397,310        24,501
 2009          7,200           0           0           0         7,200         44,065       441,375        20,898
 2010          7,200           0           0           0         7,200         41,503       482,878        17,818
 2011          7,200           0           0           0         7,200         39,067       521,945        15,182
 2012          7,200           0           0           0         7,200         36,755       558,700        12,930
 2013          7,200           0           0           0         7,200         34,556       593,256        11,004
 2014          7,200           0           0           0         7,200         32,468       625,724         9,360
 2015          7,200           0           0           0         7,200         30,486       656,210         7,954
 2016          7,200           0           0           0         7,200         28,601       684,811         6,756

 SUBTOT      103,200           0           0           0       103,200        684,811                     395,113
 REMAIN       65,535           0           0           0        65,535        188,214       873,025        29,095
 TOTAL       168,735           0           0           0       168,735        873,025                     424,208

   LIFE OF EVALUATION IS 24.10 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO







                                 TENGASCO, INC.                        TABLE 240
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR                                                            PROVED
     PAUL REED #6   (STONES RIVER)                                                     BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                
 INITIAL -   1.000000  0.875000                         16.25                               5.00% -        32,240
 FINAL   -   1.000000  0.875000                         16.25                              10.00% -         8,874
 REMARKS - CUM IS FROM PRIOR PRODUCTION IN THIS WELL.                                      15.00% -         2,461
           CAPITAL COSTS IS TO DRILL AND COMPLETE.                                         20.00% -           687
                                                                                           25.00% -           193





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER         11,774           0           0          10,302           0           0.000      16.25     0.00
 TOTAL             11,774           0           0          10,302           0           0.000      16.25     0.00

 CUMULATIVE         6,842           0           0
 ULTIMATE          18,616           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN        167,412           0             0            0       167,412       5,022           0       162,390
 TOTAL         167,412           0             0            0       167,412       5,022           0       162,390






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       34,368           0      10,000           0        44,368        118,022       118,022         8,874
 TOTAL        34,368           0      10,000           0        44,368        118,022                       8,874

   LIFE OF EVALUATION IS 27.75 YEARS.
   FINAL PRODUCTION RATE: 250 BBLS/MO





                            TENGASCO, INC.                             TABLE 241
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #7   (KNOX)                                                             PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       620,997
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       471,469
 REMARKS -                                                                                 15.00% -       384,914
                                                                                           20.00% -       328,522
                                                                                           25.00% -       288,635





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          68               0           0          59.336       0.00     2.35
 2003     1             0           0          44               0           0          38.932       0.00     2.35
 2004     1             0           0          36               0           0          31.304       0.00     2.35
 2005     1             0           0          31               0           0          26.946       0.00     2.35
 2006     1             0           0          27               0           0          24.029       0.00     2.35
 2007     1             0           0          25               0           0          21.898       0.00     2.35
 2008     1             0           0          24               0           0          20.254       0.00     2.35
 2009     1             0           0          21               0           0          18.935       0.00     2.35
 2010     1             0           0          21               0           0          17.845       0.00     2.35
 2011     1             0           0          19               0           0          16.924       0.00     2.35
 2012     1             0           0          18               0           0          16.079       0.00     2.35
 2013     1             0           0          18               0           0          15.275       0.00     2.35
 2014     1             0           0          16               0           0          14.511       0.00     2.35
 2015     1             0           0          16               0           0          13.786       0.00     2.35
 2016     1             0           0          15               0           0          13.097       0.00     2.35

 SUB-TOTAL              0           0         399               0           0         349.151       0.00     2.35
 REMAINDER              0           0         214               0           0         187.346       0.00     2.36
 TOTAL                  0           0         613               0           0         536.497       0.00     2.36

 CUMULATIVE             0           0          77
 ULTIMATE               0           0         690





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0       139,735            0       139,735           0       4,192       135,543
 2003                0           0        91,685            0        91,685           0       2,751        88,934
 2004                0           0        73,720            0        73,720           0       2,211        71,509
 2005                0           0        63,458            0        63,458           0       1,904        61,554
 2006                0           0        56,587            0        56,587           0       1,698        54,889
 2007                0           0        51,571            0        51,571           0       1,547        50,024
 2008                0           0        47,698            0        47,698           0       1,431        46,267
 2009                0           0        44,591            0        44,591           0       1,337        43,254
 2010                0           0        42,026            0        42,026           0       1,261        40,765
 2011                0           0        39,855            0        39,855           0       1,196        38,659
 2012                0           0        37,867            0        37,867           0       1,136        36,731
 2013                0           0        35,973            0        35,973           0       1,079        34,894
 2014                0           0        34,174            0        34,174           0       1,025        33,149
 2015                0           0        32,466            0        32,466           0         974        31,492
 2016                0           0        30,842            0        30,842           0         925        29,917

 SUB-TOT             0           0       822,248            0       822,248           0      24,667       797,581
 REMAIN              0           0       441,199            0       441,199           0      13,236       427,963
 TOTAL               0           0     1,263,447            0     1,263,447           0      37,903     1,225,544






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          6,000           0           0           0         6,000        129,543       129,543       123,979
 2003          6,000           0           0           0         6,000         82,934       212,477        71,627
 2004          6,000           0           0           0         6,000         65,509       277,986        51,173
 2005          6,000           0           0           0         6,000         55,554       333,540        39,267
 2006          7,200           0           0           0         7,200         47,689       381,229        30,506
 2007          7,200           0           0           0         7,200         42,824       424,053        24,794
 2008          7,200           0           0           0         7,200         39,067       463,120        20,473
 2009          7,200           0           0           0         7,200         36,054       499,174        17,101
 2010          7,200           0           0           0         7,200         33,565       532,739        14,411
 2011          7,200           0           0           0         7,200         31,459       564,198        12,226
 2012          7,200           0           0           0         7,200         29,531       593,729        10,389
 2013          7,200           0           0           0         7,200         27,694       621,423         8,819
 2014          7,200           0           0           0         7,200         25,949       647,372         7,480
 2015          7,200           0           0           0         7,200         24,292       671,664         6,339
 2016          7,200           0           0           0         7,200         22,717       694,381         5,366

 SUBTOT      103,200           0           0           0       103,200        694,381                     443,950
 REMAIN      196,228           0           0           0       196,228        231,735       926,116        27,519
 TOTAL       299,428           0           0           0       299,428        926,116                     471,469

   LIFE OF EVALUATION IS 42.25 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO





                                 TENGASCO, INC.                        TABLE 242
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #7 BP1   (KNOX)                                                         BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       288,568
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       216,172
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -       170,858
                                                                                           20.00% -       139,959
                                                                                           25.00% -       117,513





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          47               0           0          41.358       0.00     2.36
 2004     1             0           0          27               0           0          23.679       0.00     2.35
 2005     1             0           0          22               0           0          18.536       0.00     2.35
 2006     1             0           0          18               0           0          15.756       0.00     2.35
 2007     1             0           0          15               0           0          13.944       0.00     2.35
 2008     1             0           0          15               0           0          12.643       0.00     2.35
 2009     1             0           0          13               0           0          11.650       0.00     2.36
 2010     1             0           0          13               0           0          10.859       0.00     2.36
 2011     1             0           0          11               0           0          10.211       0.00     2.35
 2012     1             0           0          11               0           0           9.666       0.00     2.36
 2013     1             0           0          11               0           0           9.180       0.00     2.35
 2014     1             0           0          10               0           0           8.721       0.00     2.35
 2015     1             0           0           9               0           0           8.285       0.00     2.35
 2016     1             0           0           9               0           0           7.871       0.00     2.36

 SUB-TOTAL              0           0         231               0           0         202.359       0.00     2.35
 REMAINDER              0           0         101               0           0          88.079       0.00     2.35
 TOTAL                  0           0         332               0           0         290.438       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         332





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        97,399            0        97,399           0       2,922        94,477
 2004                0           0        55,763            0        55,763           0       1,673        54,090
 2005                0           0        43,651            0        43,651           0       1,309        42,342
 2006                0           0        37,104            0        37,104           0       1,114        35,990
 2007                0           0        32,839            0        32,839           0         985        31,854
 2008                0           0        29,775            0        29,775           0         893        28,882
 2009                0           0        27,435            0        27,435           0         823        26,612
 2010                0           0        25,574            0        25,574           0         767        24,807
 2011                0           0        24,047            0        24,047           0         722        23,325
 2012                0           0        22,763            0        22,763           0         682        22,081
 2013                0           0        21,619            0        21,619           0         649        20,970
 2014                0           0        20,539            0        20,539           0         616        19,923
 2015                0           0        19,512            0        19,512           0         586        18,926
 2016                0           0        18,536            0        18,536           0         556        17,980

 SUB-TOT             0           0       476,556            0       476,556           0      14,297       462,259
 REMAIN              0           0       207,427            0       207,427           0       6,222       201,205
 TOTAL               0           0       683,983            0       683,983           0      20,519       663,464






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003          7,200           0      20,000           0        27,200         67,277        67,277        57,807
 2004          7,200           0           0           0         7,200         46,890       114,167        36,679
 2005          7,200           0           0           0         7,200         35,142       149,309        24,857
 2006          7,200           0           0           0         7,200         28,790       178,099        18,426
 2007          7,200           0           0           0         7,200         24,654       202,753        14,278
 2008          7,200           0           0           0         7,200         21,682       224,435        11,366
 2009          7,200           0           0           0         7,200         19,412       243,847         9,209
 2010          7,200           0           0           0         7,200         17,607       261,454         7,561
 2011          7,200           0           0           0         7,200         16,125       277,579         6,268
 2012          7,200           0           0           0         7,200         14,881       292,460         5,236
 2013          7,200           0           0           0         7,200         13,770       306,230         4,385
 2014          7,200           0           0           0         7,200         12,723       318,953         3,668
 2015          7,200           0           0           0         7,200         11,726       330,679         3,060
 2016          7,200           0           0           0         7,200         10,780       341,459         2,547

 SUBTOT      100,800           0      20,000           0       120,800        341,459                     205,347
 REMAIN      124,800           0           0           0       124,800         76,405       417,864        10,825
 TOTAL       225,600           0      20,000           0       245,600        417,864                     216,172

   LIFE OF EVALUATION IS 32.33 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO






                                 TENGASCO, INC.                        TABLE 243
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     PAUL REED #7 BP2   (TRENTON-MURFREESBORO)                                         BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        61,499
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -         9,579
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO TRENTON-MURFREESBORO.                         15.00% -         1,554
                                                                                           20.00% -           261
                                                                                           25.00% -            45





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         275               0           0         240.391       0.00     2.35
 TOTAL                  0           0         275               0           0         240.391       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         275





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       566,122            0       566,122           0      16,984       549,138
 TOTAL               0           0       566,122            0       566,122           0      16,984       549,138






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN      110,291           0      25,000           0       135,291        413,847       413,847         9,579
 TOTAL       110,291           0      25,000           0       135,291        413,847                       9,579

   LIFE OF EVALUATION IS 47.65 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO





                                 TENGASCO, INC.                        TABLE 244
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     PAUL REED #8   (STONES RIVER)                                                     UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       215,418
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       129,172
 REMARKS - CAPITAL COSTS INCLUDED TO DRILL AND COMPLETE.  REPLACES LOCATION #7.            15.00% -        73,715
                                                                                           20.00% -        36,260
                                                                                           25.00% -         9,950





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          29               0           0          18.804       0.00     2.36
 2003     1             0           0          78               0           0          51.596       0.00     2.35
 2004     1             0           0          54               0           0          35.362       0.00     2.35
 2005     1             0           0          43               0           0          27.901       0.00     2.35
 2006     1             0           0          35               0           0          23.448       0.00     2.35
 2007     1             0           0          32               0           0          20.434       0.00     2.35
 2008     1             0           0          27               0           0          18.235       0.00     2.35
 2009     1             0           0          26               0           0          16.546       0.00     2.36
 2010     1             0           0          23               0           0          15.202       0.00     2.35
 2011     1             0           0          21               0           0          14.101       0.00     2.35
 2012     1             0           0          20               0           0          13.180       0.00     2.36
 2013     1             0           0          19               0           0          12.396       0.00     2.36
 2014     1             0           0          18               0           0          11.719       0.00     2.36
 2015     1             0           0          17               0           0          11.123       0.00     2.35
 2016     1             0           0          16               0           0          10.566       0.00     2.36

 SUB-TOTAL              0           0         458               0           0         300.613       0.00     2.35
 REMAINDER              0           0          72               0           0          47.200       0.00     2.35
 TOTAL                  0           0         530               0           0         347.813       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         530





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        44,284            0        44,284           0       1,329        42,955
 2003                0           0       121,509            0       121,509           0       3,645       117,864
 2004                0           0        83,278            0        83,278           0       2,498        80,780
 2005                0           0        65,706            0        65,706           0       1,971        63,735
 2006                0           0        55,220            0        55,220           0       1,657        53,563
 2007                0           0        48,123            0        48,123           0       1,444        46,679
 2008                0           0        42,943            0        42,943           0       1,288        41,655
 2009                0           0        38,967            0        38,967           0       1,169        37,798
 2010                0           0        35,800            0        35,800           0       1,074        34,726
 2011                0           0        33,207            0        33,207           0         996        32,211
 2012                0           0        31,037            0        31,037           0         931        30,106
 2013                0           0        29,192            0        29,192           0         876        28,316
 2014                0           0        27,598            0        27,598           0         828        26,770
 2015                0           0        26,194            0        26,194           0         786        25,408
 2016                0           0        24,884            0        24,884           0         746        24,138

 SUB-TOT             0           0       707,942            0       707,942           0      21,238       686,704
 REMAIN              0           0       111,156            0       111,156           0       3,335       107,821
 TOTAL               0           0       819,098            0       819,098           0      24,573       794,525






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          2,400           0     250,000           0       252,400       -209,445      -209,445      -193,860
 2003          9,600           0           0           0         9,600        108,264      -101,181        93,696
 2004          9,600           0           0           0         9,600         71,180       -30,001        55,662
 2005          9,600           0           0           0         9,600         54,135        24,134        38,292
 2006          9,600           0           0           0         9,600         43,963        68,097        28,139
 2007          9,600           0           0           0         9,600         37,079       105,176        21,478
 2008          9,600           0           0           0         9,600         32,055       137,231        16,805
 2009          9,600           0           0           0         9,600         28,198       165,429        13,380
 2010          9,600           0           0           0         9,600         25,126       190,555        10,791
 2011          9,600           0           0           0         9,600         22,611       213,166         8,790
 2012          9,600           0           0           0         9,600         20,506       233,672         7,216
 2013          9,600           0           0           0         9,600         18,716       252,388         5,961
 2014          9,600           0           0           0         9,600         17,170       269,558         4,951
 2015          9,600           0           0           0         9,600         15,808       285,366         4,125
 2016          9,600           0           0           0         9,600         14,538       299,904         3,435

 SUBTOT      136,800           0     250,000           0       386,800        299,904                     118,861
 REMAIN       50,162           0           0           0        50,162         57,659       357,563        10,311
 TOTAL       186,962           0     250,000           0       436,962        357,563                     129,172

   LIFE OF EVALUATION IS 20.23 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 245
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     PURKEY #1   (KNOX)                                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       150,170
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -       105,590
 REMARKS -                                                                                 15.00% -        80,884
                                                                                           20.00% -        65,455
                                                                                           25.00% -        54,968





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0          19               0           0           8.407       0.00     2.35
 2003     1             0           0          19               0           0           8.071       0.00     2.35
 2004     1             0           0          17               0           0           7.748       0.00     2.35
 2005     1             0           0          17               0           0           7.438       0.00     2.35
 2006     1             0           0          17               0           0           7.141       0.00     2.36
 2007     1             0           0          15               0           0           6.855       0.00     2.35
 2008     1             0           0          15               0           0           6.581       0.00     2.35
 2009     1             0           0          15               0           0           6.318       0.00     2.35
 2010     1             0           0          14               0           0           6.065       0.00     2.35
 2011     1             0           0          13               0           0           5.822       0.00     2.35
 2012     1             0           0          13               0           0           5.589       0.00     2.35
 2013     1             0           0          12               0           0           5.366       0.00     2.36
 2014     1             0           0          12               0           0           5.151       0.00     2.35
 2015     1             0           0          11               0           0           4.945       0.00     2.35
 2016     1             0           0          11               0           0           4.747       0.00     2.35

 SUB-TOTAL              0           0         220               0           0          96.244       0.00     2.35
 REMAINDER              0           0         172               0           0          75.314       0.00     2.35
 TOTAL                  0           0         392               0           0         171.558       0.00     2.35

 CUMULATIVE             0           0           8
 ULTIMATE               0           0         400





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        19,799            0        19,799           0         594        19,205
 2003                0           0        19,007            0        19,007           0         570        18,437
 2004                0           0        18,247            0        18,247           0         548        17,699
 2005                0           0        17,517            0        17,517           0         525        16,992
 2006                0           0        16,817            0        16,817           0         505        16,312
 2007                0           0        16,144            0        16,144           0         484        15,660
 2008                0           0        15,498            0        15,498           0         465        15,033
 2009                0           0        14,878            0        14,878           0         446        14,432
 2010                0           0        14,283            0        14,283           0         429        13,854
 2011                0           0        13,711            0        13,711           0         411        13,300
 2012                0           0        13,163            0        13,163           0         395        12,768
 2013                0           0        12,637            0        12,637           0         379        12,258
 2014                0           0        12,131            0        12,131           0         364        11,767
 2015                0           0        11,646            0        11,646           0         349        11,297
 2016                0           0        11,180            0        11,180           0         336        10,844

 SUB-TOT             0           0       226,658            0       226,658           0       6,800       219,858
 REMAIN              0           0       177,364            0       177,364           0       5,321       172,043
 TOTAL               0           0       404,022            0       404,022           0      12,121       391,901






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          3,000           0           0           0         3,000         16,205        16,205        15,430
 2003          3,000           0           0           0         3,000         15,437        31,642        13,306
 2004          3,000           0           0           0         3,000         14,699        46,341        11,469
 2005          3,000           0           0           0         3,000         13,992        60,333         9,882
 2006          3,600           0           0           0         3,600         12,712        73,045         8,128
 2007          3,600           0           0           0         3,600         12,060        85,105         6,980
 2008          3,600           0           0           0         3,600         11,433        96,538         5,989
 2009          3,600           0           0           0         3,600         10,832       107,370         5,137
 2010          3,600           0           0           0         3,600         10,254       117,624         4,402
 2011          3,600           0           0           0         3,600          9,700       127,324         3,770
 2012          3,600           0           0           0         3,600          9,168       136,492         3,225
 2013          3,600           0           0           0         3,600          8,658       145,150         2,757
 2014          3,600           0           0           0         3,600          8,167       153,317         2,354
 2015          3,600           0           0           0         3,600          7,697       161,014         2,008
 2016          3,600           0           0           0         3,600          7,244       168,258         1,712

 SUBTOT       51,600           0           0           0        51,600        168,258                      96,549
 REMAIN       95,400           0           0           0        95,400         76,643       244,901         9,041
 TOTAL       147,000           0           0           0       147,000        244,901                     105,590

   LIFE OF EVALUATION IS 41.50 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO







                                 TENGASCO, INC.                        TABLE 246
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   MILLER PETROLEUM - OPERATOR   11-T1S-R74E                                           PROVED
     PURKEY #2   (TRENTON)                                                             SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                                                                       5.00% -             0
 FINAL   -   0.500000                                                                      10.00% -             0
 REMARKS - NO RESERVES ASSIGNED PENDING ADDITIONAL DATA.                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO








                                 TENGASCO, INC.                        TABLE 247
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   11-T1S-R74E                                           PROVED
     PURKEY #3   (KNOX)                                                                PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        69,245
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        58,064
 REMARKS -                                                                                 15.00% -        49,716
                                                                                           20.00% -        43,319
                                                                                           25.00% -        38,303





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0          17               0           0           7.510       0.00     2.35
 2003     1             0           0          16               0           0           6.759       0.00     2.36
 2004     1             0           0          14               0           0           6.083       0.00     2.35
 2005     1             0           0          12               0           0           5.475       0.00     2.35
 2006     1             0           0          11               0           0           4.927       0.00     2.35
 2007     1             0           0          10               0           0           4.434       0.00     2.35
 2008     1             0           0          10               0           0           3.991       0.00     2.35
 2009     1             0           0           8               0           0           3.592       0.00     2.35
 2010     1             0           0           7               0           0           3.233       0.00     2.35
 2011     1             0           0           7               0           0           2.909       0.00     2.35
 2012     1             0           0           6               0           0           2.618       0.00     2.35
 2013     1             0           0           5               0           0           2.357       0.00     2.35
 2014     1             0           0           5               0           0           2.121       0.00     2.35
 2015     1             0           0           4               0           0           1.909       0.00     2.35
 2016     1             0           0           4               0           0           1.718       0.00     2.36

 SUB-TOTAL              0           0         136               0           0          59.636       0.00     2.35
 REMAINDER              0           0           2               0           0           0.534       0.00     2.35
 TOTAL                  0           0         138               0           0          60.170       0.00     2.35

 CUMULATIVE             0           0          15
 ULTIMATE               0           0         153





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        17,685            0        17,685           0         531        17,154
 2003                0           0        15,917            0        15,917           0         477        15,440
 2004                0           0        14,325            0        14,325           0         430        13,895
 2005                0           0        12,893            0        12,893           0         387        12,506
 2006                0           0        11,603            0        11,603           0         348        11,255
 2007                0           0        10,443            0        10,443           0         313        10,130
 2008                0           0         9,399            0         9,399           0         282         9,117
 2009                0           0         8,459            0         8,459           0         254         8,205
 2010                0           0         7,613            0         7,613           0         228         7,385
 2011                0           0         6,852            0         6,852           0         206         6,646
 2012                0           0         6,166            0         6,166           0         185         5,981
 2013                0           0         5,550            0         5,550           0         166         5,384
 2014                0           0         4,995            0         4,995           0         150         4,845
 2015                0           0         4,495            0         4,495           0         135         4,360
 2016                0           0         4,046            0         4,046           0         121         3,925

 SUB-TOT             0           0       140,441            0       140,441           0       4,213       136,228
 REMAIN              0           0         1,257            0         1,257           0          38         1,219
 TOTAL               0           0       141,698            0       141,698           0       4,251       137,447






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          3,000           0           0           0         3,000         14,154        14,154        13,486
 2003          3,000           0           0           0         3,000         12,440        26,594        10,730
 2004          3,000           0           0           0         3,000         10,895        37,489         8,507
 2005          3,000           0           0           0         3,000          9,506        46,995         6,719
 2006          3,600           0           0           0         3,600          7,655        54,650         4,898
 2007          3,600           0           0           0         3,600          6,530        61,180         3,783
 2008          3,600           0           0           0         3,600          5,517        66,697         2,893
 2009          3,600           0           0           0         3,600          4,605        71,302         2,186
 2010          3,600           0           0           0         3,600          3,785        75,087         1,627
 2011          3,600           0           0           0         3,600          3,046        78,133         1,186
 2012          3,600           0           0           0         3,600          2,381        80,514           839
 2013          3,600           0           0           0         3,600          1,784        82,298           569
 2014          3,600           0           0           0         3,600          1,245        83,543           360
 2015          3,600           0           0           0         3,600            760        84,303           199
 2016          3,600           0           0           0         3,600            325        84,628            78

 SUBTOT       51,600           0           0           0        51,600         84,628                      58,060
 REMAIN        1,200           0           0           0         1,200             19        84,647             4
 TOTAL        52,800           0           0           0        52,800         84,647                      58,064

   LIFE OF EVALUATION IS 15.33 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO





                                 TENGASCO, INC.                        TABLE 248
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   11-T1S-R74E                                           PROVED
     PURKEY #3 BP1   (KNOX)                                                            BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        75,113
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        28,925
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX.                                15.00% -        11,434
                                                                                           20.00% -         4,624
                                                                                           25.00% -         1,907





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         255               0           0         111.554       0.00     2.36
 TOTAL                  0           0         255               0           0         111.554       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       262,709            0       262,709           0       7,881       254,828
 TOTAL               0           0       262,709            0       262,709           0       7,881       254,828






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       43,883           0      10,000           0        53,883        200,945       200,945        28,925
 TOTAL        43,883           0      10,000           0        53,883        200,945                      28,925

   LIFE OF EVALUATION IS 27.52 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 249
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR   11-T1S-R74E                                           PROVED
     PURKEY #3 BP2   (TRENTON-MURFREESBORO)                                            BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        16,643
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -         3,881
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO THE TRENTON-MURFREESBORO.                     15.00% -           912
                                                                                           20.00% -           216
                                                                                           25.00% -            52





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0          95               0           0          41.563       0.00     2.36
 TOTAL                  0           0          95               0           0          41.563       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          95





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0        97,880            0        97,880           0       2,936        94,944
 TOTAL               0           0        97,880            0        97,880           0       2,936        94,944






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       12,997           0      10,000           0        22,997         71,947        71,947         3,881
 TOTAL        12,997           0      10,000           0        22,997         71,947                       3,881

   LIFE OF EVALUATION IS 31.19 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 250
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO - OPERATOR   11-T1S-R74E                                                   PROVED
     PURKEY #4   (KNOX)                                                                UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       154,562
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -       112,254
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO DRILL AND COMPLETE.                           15.00% -        85,051
           REPLACES LOCATION #37.                                                          20.00% -        66,396
                                                                                           25.00% -        52,941





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          18               0           0           8.081       0.00     2.35
 2004     1             0           0          55               0           0          23.930       0.00     2.35
 2005     1             0           0          35               0           0          15.384       0.00     2.35
 2006     1             0           0          24               0           0          10.489       0.00     2.35
 2007     1             0           0          16               0           0           6.731       0.00     2.36
 2008     1             0           0          13               0           0           5.755       0.00     2.35
 2009     1             0           0          12               0           0           5.327       0.00     2.36
 2010     1             0           0          11               0           0           4.945       0.00     2.35
 2011     1             0           0          11               0           0           4.604       0.00     2.35
 2012     1             0           0          10               0           0           4.297       0.00     2.36
 2013     1             0           0           9               0           0           4.020       0.00     2.35
 2014     1             0           0           8               0           0           3.770       0.00     2.35
 2015     1             0           0           9               0           0           3.543       0.00     2.35
 2016     1             0           0           7               0           0           3.336       0.00     2.35

 SUB-TOTAL              0           0         238               0           0         104.212       0.00     2.36
 REMAINDER              0           0          43               0           0          18.725       0.00     2.36
 TOTAL                  0           0         281               0           0         122.937       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         281





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        19,032            0        19,032           0         571        18,461
 2004                0           0        56,354            0        56,354           0       1,691        54,663
 2005                0           0        36,230            0        36,230           0       1,086        35,144
 2006                0           0        24,701            0        24,701           0         742        23,959
 2007                0           0        15,852            0        15,852           0         475        15,377
 2008                0           0        13,554            0        13,554           0         407        13,147
 2009                0           0        12,544            0        12,544           0         376        12,168
 2010                0           0        11,646            0        11,646           0         349        11,297
 2011                0           0        10,842            0        10,842           0         326        10,516
 2012                0           0        10,119            0        10,119           0         303         9,816
 2013                0           0         9,469            0         9,469           0         284         9,185
 2014                0           0         8,878            0         8,878           0         267         8,611
 2015                0           0         8,343            0         8,343           0         250         8,093
 2016                0           0         7,856            0         7,856           0         236         7,620

 SUB-TOT             0           0       245,420            0       245,420           0       7,363       238,057
 REMAIN              0           0        44,098            0        44,098           0       1,323        42,775
 TOTAL               0           0       289,518            0       289,518           0       8,686       280,832






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003            211           0      35,125           0        35,336        -16,875       -16,875       -14,239
 2004            843           0           0           0           843         53,820        36,945        42,142
 2005            843           0           0           0           843         34,301        71,246        24,300
 2006          1,011           0           0           0         1,011         22,948        94,194        14,710
 2007          1,012           0           0           0         1,012         14,365       108,559         8,341
 2008          1,012           0           0           0         1,012         12,135       120,694         6,359
 2009          1,011           0           0           0         1,011         11,157       131,851         5,293
 2010          1,012           0           0           0         1,012         10,285       142,136         4,416
 2011          1,011           0           0           0         1,011          9,505       151,641         3,694
 2012          1,012           0           0           0         1,012          8,804       160,445         3,098
 2013          1,012           0           0           0         1,012          8,173       168,618         2,602
 2014          1,011           0           0           0         1,011          7,600       176,218         2,191
 2015          1,012           0           0           0         1,012          7,081       183,299         1,848
 2016          1,011           0           0           0         1,011          6,609       189,908         1,561

 SUBTOT       13,024           0      35,125           0        48,149        189,908                     106,316
 REMAIN        7,032           0           0           0         7,032         35,743       225,651         5,938
 TOTAL        20,056           0      35,125           0        55,181        225,651                     112,254

   LIFE OF EVALUATION IS 21.95 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO






                                 TENGASCO, INC.                        TABLE 251
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO - OPERATOR   11-T1S-R74E                                                   PROVED
     PURKEY #5   (KNOX)                                                                UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       463,715
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -       365,966
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO DRILL AND COMPLETE.                           15.00% -       300,073
           REPLACES LOCATION #10.                                                          20.00% -       252,969
                                                                                           25.00% -       217,590





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0         146               0           0          63.736       0.00     2.35
 2003     1             0           0         114               0           0          49.984       0.00     2.35
 2004     1             0           0          76               0           0          33.322       0.00     2.35
 2005     1             0           0          53               0           0          23.353       0.00     2.35
 2006     1             0           0          39               0           0          17.016       0.00     2.35
 2007     1             0           0          37               0           0          16.078       0.00     2.35
 2008     1             0           0          35               0           0          15.394       0.00     2.35
 2009     1             0           0          32               0           0          14.056       0.00     2.36
 2010     1             0           0          30               0           0          12.888       0.00     2.35
 2011     1             0           0          27               0           0          11.862       0.00     2.36
 2012     1             0           0          25               0           0          10.955       0.00     2.35
 2013     1             0           0          23               0           0          10.150       0.00     2.35
 2014     1             0           0          22               0           0           9.432       0.00     2.36
 2015     1             0           0          20               0           0           8.789       0.00     2.35
 2016     1             0           0          19               0           0           8.210       0.00     2.36

 SUB-TOTAL              0           0         698               0           0         305.225       0.00     2.35
 REMAINDER              0           0          68               0           0          29.767       0.00     2.35
 TOTAL                  0           0         766               0           0         334.992       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         766





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0       150,099            0       150,099           0       4,503       145,596
 2003                0           0       117,713            0       117,713           0       3,531       114,182
 2004                0           0        78,474            0        78,474           0       2,355        76,119
 2005                0           0        54,996            0        54,996           0       1,649        53,347
 2006                0           0        40,073            0        40,073           0       1,203        38,870
 2007                0           0        37,864            0        37,864           0       1,136        36,728
 2008                0           0        36,252            0        36,252           0       1,087        35,165
 2009                0           0        33,102            0        33,102           0         993        32,109
 2010                0           0        30,351            0        30,351           0         911        29,440
 2011                0           0        27,934            0        27,934           0         838        27,096
 2012                0           0        25,800            0        25,800           0         774        25,026
 2013                0           0        23,903            0        23,903           0         717        23,186
 2014                0           0        22,213            0        22,213           0         666        21,547
 2015                0           0        20,698            0        20,698           0         621        20,077
 2016                0           0        19,336            0        19,336           0         580        18,756

 SUB-TOT             0           0       718,808            0       718,808           0      21,564       697,244
 REMAIN              0           0        70,102            0        70,102           0       2,103        67,999
 TOTAL               0           0       788,910            0       788,910           0      23,667       765,243






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,914           0      95,713           0        97,627         47,969        47,969        42,257
 2003          2,297           0           0           0         2,297        111,885       159,854        96,751
 2004          2,297           0           0           0         2,297         73,822       233,676        57,760
 2005          2,298           0           0           0         2,298         51,049       284,725        36,144
 2006          2,756           0           0           0         2,756         36,114       320,839        23,141
 2007          2,757           0           0           0         2,757         33,971       354,810        19,628
 2008          2,756           0           0           0         2,756         32,409       387,219        16,985
 2009          2,757           0           0           0         2,757         29,352       416,571        13,925
 2010          2,756           0           0           0         2,756         26,684       443,255        11,459
 2011          2,757           0           0           0         2,757         24,339       467,594         9,461
 2012          2,756           0           0           0         2,756         22,270       489,864         7,836
 2013          2,757           0           0           0         2,757         20,429       510,293         6,507
 2014          2,756           0           0           0         2,756         18,791       529,084         5,417
 2015          2,757           0           0           0         2,757         17,320       546,404         4,520
 2016          2,756           0           0           0         2,756         16,000       562,404         3,780

 SUBTOT       39,127           0      95,713           0       134,840        562,404                     355,571
 REMAIN       11,782           0           0           0        11,782         56,217       618,621        10,395
 TOTAL        50,909           0      95,713           0       146,622        618,621                     365,966

   LIFE OF EVALUATION IS 19.27 YEARS.
   FINAL PRODUCTION RATE: 1.2 MMCF/MO







                                 TENGASCO, INC.                        TABLE 252
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     RAY DEAN HELTON #1   (KNOX)                                                       PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - NO REMAINING RECOVERABLE ECONOMIC RESERVES.                                     15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           1
 ULTIMATE               0           0           1





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                            TENGASCO, INC.                             TABLE 253
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     RAY DEAN HELTON #1 BP   (TRENTON-STONES RIVER)                                    BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       143,538
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       120,048
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -       100,922
                                                                                           20.00% -        85,187
                                                                                           25.00% -        72,118





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          32               0           0          28.182       0.00     2.36
 2004     1             0           0          25               0           0          21.849       0.00     2.35
 2005     1             0           0          20               0           0          16.940       0.00     2.35
 2006     1             0           0          15               0           0          13.133       0.00     2.35
 2007     1             0           0          11               0           0          10.182       0.00     2.35
 2008     1             0           0           9               0           0           7.894       0.00     2.35
 2009     1             0           0           7               0           0           6.120       0.00     2.36
 2010     1             0           0           6               0           0           4.745       0.00     2.36
 2011     1             0           0           4               0           0           3.679       0.00     2.35
 2012     1             0           0           0               0           0           0.151       0.00     2.35
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         129               0           0         112.875       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         129               0           0         112.875       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         129





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        66,368            0        66,368           0       1,991        64,377
 2004                0           0        51,455            0        51,455           0       1,544        49,911
 2005                0           0        39,892            0        39,892           0       1,196        38,696
 2006                0           0        30,929            0        30,929           0         928        30,001
 2007                0           0        23,979            0        23,979           0         720        23,259
 2008                0           0        18,590            0        18,590           0         557        18,033
 2009                0           0        14,414            0        14,414           0         433        13,981
 2010                0           0        11,174            0        11,174           0         335        10,839
 2011                0           0         8,664            0         8,664           0         260         8,404
 2012                0           0           356            0           356           0          11           345
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       265,821            0       265,821           0       7,975       257,846
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       265,821            0       265,821           0       7,975       257,846






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0      20,000           0        20,000        -20,000       -20,000       -19,917
 2003          7,200           0           0           0         7,200         57,177        37,177        49,380
 2004          7,200           0           0           0         7,200         42,711        79,888        33,393
 2005          7,200           0           0           0         7,200         31,496       111,384        22,293
 2006          7,200           0           0           0         7,200         22,801       134,185        14,612
 2007          7,200           0           0           0         7,200         16,059       150,244         9,318
 2008          7,200           0           0           0         7,200         10,833       161,077         5,693
 2009          7,200           0           0           0         7,200          6,781       167,858         3,228
 2010          7,200           0           0           0         7,200          3,639       171,497         1,572
 2011          7,200           0           0           0         7,200          1,204       172,701           474
 2012            339           0           0           0           339              6       172,707             2
 2013              0           0           0           0             0              0       172,707             0
 2014              0           0           0           0             0              0       172,707             0
 2015              0           0           0           0             0              0       172,707             0
 2016              0           0           0           0             0              0       172,707             0

 SUBTOT       65,139           0      20,000           0        85,139        172,707                     120,048
 REMAIN            0           0           0           0             0              0       172,707             0
 TOTAL        65,139           0      20,000           0        85,139        172,707                     120,048

   LIFE OF EVALUATION IS 10.05 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO





                                 TENGASCO, INC.                       TABLE 254
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     RAY DEAN HELTON #2   (STONES RIVER)                                               SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000  0.437500                         16.25                               5.00% -        93,405
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -        88,104
 REMARKS -                                                                                 15.00% -        83,190
                                                                                           20.00% -        78,628
                                                                                           25.00% -        74,387





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         7,003           0           0           3,064           0           0.000      16.25     0.00
 2003     1         6,338           0           0           2,773           0           0.000      16.25     0.00
 2004     1         2,094           0           0             916           0           0.000      16.25     0.00
 2005     1            45           0           0              20           0           0.000      16.25     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         15,480           0           0           6,773           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             15,480           0           0           6,773           0           0.000      16.25     0.00

 CUMULATIVE             0           0           0
 ULTIMATE          15,480           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           49,786           0             0            0        49,786       1,494           0        48,292
 2003           45,062           0             0            0        45,062       1,351           0        43,711
 2004           14,886           0             0            0        14,886         447           0        14,439
 2005              319           0             0            0           319          10           0           309
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       110,053           0             0            0       110,053       3,302           0       106,751
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         110,053           0             0            0       110,053       3,302           0       106,751






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0           0           0         1,500         46,792        46,792        43,528
 2003          3,000           0           0           0         3,000         40,711        87,503        35,414
 2004          3,000           0           0           0         3,000         11,439        98,942         9,023
 2005            120           0           0           0           120            189        99,131           139
 2006              0           0           0           0             0              0        99,131             0
 2007              0           0           0           0             0              0        99,131             0
 2008              0           0           0           0             0              0        99,131             0
 2009              0           0           0           0             0              0        99,131             0
 2010              0           0           0           0             0              0        99,131             0
 2011              0           0           0           0             0              0        99,131             0
 2012              0           0           0           0             0              0        99,131             0
 2013              0           0           0           0             0              0        99,131             0
 2014              0           0           0           0             0              0        99,131             0
 2015              0           0           0           0             0              0        99,131             0
 2016              0           0           0           0             0              0        99,131             0

 SUBTOT        7,620           0           0           0         7,620         99,131                      88,104
 REMAIN            0           0           0           0             0              0        99,131             0
 TOTAL         7,620           0           0           0         7,620         99,131                      88,104

   LIFE OF EVALUATION IS 3.04 YEARS.
   FINAL PRODUCTION RATE: 93 BBLS/MO






                                 TENGASCO, INC.                        TABLE 255
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     RAY DEAN HELTON #2 BP1   (KNOX)                                                   BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       107,688
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -        82,824
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -        64,135
                                                                                           20.00% -        49,984
                                                                                           25.00% -        39,194





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0          40               0           0          17.640       0.00     2.36
 2006     1             0           0          35               0           0          15.355       0.00     2.35
 2007     1             0           0          30               0           0          12.886       0.00     2.35
 2008     1             0           0          25               0           0          10.977       0.00     2.35
 2009     1             0           0          22               0           0           9.467       0.00     2.35
 2010     1             0           0          14               0           0           6.281       0.00     2.36
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         166               0           0          72.606       0.00     2.36
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         166               0           0          72.606       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         166





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0        41,543            0        41,543           0       1,246        40,297
 2006                0           0        36,160            0        36,160           0       1,085        35,075
 2007                0           0        30,348            0        30,348           0         911        29,437
 2008                0           0        25,849            0        25,849           0         775        25,074
 2009                0           0        22,296            0        22,296           0         669        21,627
 2010                0           0        14,792            0        14,792           0         444        14,348
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       170,988            0       170,988           0       5,130       165,858
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       170,988            0       170,988           0       5,130       165,858






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005          2,750           0       5,000           0         7,750         32,547        32,547        22,820
 2006          3,600           0           0           0         3,600         31,475        64,022        20,149
 2007          3,600           0           0           0         3,600         25,837        89,859        14,970
 2008          3,600           0           0           0         3,600         21,474       111,333        11,262
 2009          3,600           0           0           0         3,600         18,027       129,360         8,558
 2010          2,696           0           0           0         2,696         11,652       141,012         5,065
 2011              0           0           0           0             0              0       141,012             0
 2012              0           0           0           0             0              0       141,012             0
 2013              0           0           0           0             0              0       141,012             0
 2014              0           0           0           0             0              0       141,012             0
 2015              0           0           0           0             0              0       141,012             0
 2016              0           0           0           0             0              0       141,012             0

 SUBTOT       19,846           0       5,000           0        24,846        141,012                      82,824
 REMAIN            0           0           0           0             0              0       141,012             0
 TOTAL        19,846           0       5,000           0        24,846        141,012                      82,824

   LIFE OF EVALUATION IS 8.75 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO




                                 TENGASCO, INC.                        TABLE 256
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     RAY DEAN HELTON #2 BP2   (TRENTON)                                                BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -        11,984
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -         7,445
 REMARKS - CAPITAL INCLUDED TO RECOMPLETE TO THE TRENTON.                                  15.00% -         4,634
                                                                                           20.00% -         2,890
                                                                                           25.00% -         1,805





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           9               0           0           3.734       0.00     2.35
 2011     1             0           0          24               0           0          10.802       0.00     2.35
 2012     1             0           0           1               0           0           0.339       0.00     2.35
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          34               0           0          14.875       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          34               0           0          14.875       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0          34





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0         8,794            0         8,794           0         264         8,530
 2011                0           0        25,437            0        25,437           0         763        24,674
 2012                0           0           800            0           800           0          24           776
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0        35,031            0        35,031           0       1,051        33,980
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0        35,031            0        35,031           0       1,051        33,980






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010            900           0      10,000           0        10,900         -2,370        -2,370        -1,013
 2011          3,600           0           0           0         3,600         21,074        18,704         8,228
 2012            151           0           0           0           151            625        19,329           230
 2013              0           0           0           0             0              0        19,329             0
 2014              0           0           0           0             0              0        19,329             0
 2015              0           0           0           0             0              0        19,329             0
 2016              0           0           0           0             0              0        19,329             0

 SUBTOT        4,651           0      10,000           0        14,651         19,329                       7,445
 REMAIN            0           0           0           0             0              0        19,329             0
 TOTAL         4,651           0      10,000           0        14,651         19,329                       7,445

   LIFE OF EVALUATION IS 10.04 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                       TABLE 257
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     RAY DEAN HELTON NO. 3   (STONES RIVER)                                            PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000  0.437500                         16.25                               5.00% -        98,540
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -        84,496
 REMARKS -                                                                                 15.00% -        73,622
                                                                                           20.00% -        65,037
                                                                                           25.00% -        58,137





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         4,045           0           0           1,769           0           0.000      16.25     0.00
 2003     1         3,518           0           0           1,540           0           0.000      16.25     0.00
 2004     1         3,062           0           0           1,339           0           0.000      16.25     0.00
 2005     1         2,663           0           0           1,166           0           0.000      16.25     0.00
 2006     1         2,317           0           0           1,013           0           0.000      16.25     0.00
 2007     1         2,016           0           0             882           0           0.000      16.25     0.00
 2008     1         1,754           0           0             767           0           0.000      16.25     0.00
 2009     1         1,526           0           0             668           0           0.000      16.25     0.00
 2010     1         1,327           0           0             581           0           0.000      16.25     0.00
 2011     1         1,155           0           0             505           0           0.000      16.25     0.00
 2012     1         1,005           0           0             440           0           0.000      16.25     0.00
 2013     1           874           0           0             382           0           0.000      16.25     0.00
 2014     1           760           0           0             333           0           0.000      16.25     0.00
 2015     1           117           0           0              51           0           0.000      16.25     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         26,139           0           0          11,436           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             26,139           0           0          11,436           0           0.000      16.25     0.00

 CUMULATIVE           273           0           0
 ULTIMATE          26,412           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           28,754           0             0            0        28,754         863           0        27,891
 2003           25,017           0             0            0        25,017         750           0        24,267
 2004           21,764           0             0            0        21,764         653           0        21,111
 2005           18,934           0             0            0        18,934         568           0        18,366
 2006           16,474           0             0            0        16,474         494           0        15,980
 2007           14,331           0             0            0        14,331         430           0        13,901
 2008           12,469           0             0            0        12,469         374           0        12,095
 2009           10,848           0             0            0        10,848         326           0        10,522
 2010            9,437           0             0            0         9,437         283           0         9,154
 2011            8,211           0             0            0         8,211         246           0         7,965
 2012            7,143           0             0            0         7,143         214           0         6,929
 2013            6,215           0             0            0         6,215         187           0         6,028
 2014            5,406           0             0            0         5,406         162           0         5,244
 2015              831           0             0            0           831          25           0           806
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       185,834           0             0            0       185,834       5,575           0       180,259
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         185,834           0             0            0       185,834       5,575           0       180,259






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          4,800           0           0           0         4,800         23,091        23,091        22,009
 2003          4,800           0           0           0         4,800         19,467        42,558        16,797
 2004          4,800           0           0           0         4,800         16,311        58,869        12,740
 2005          4,800           0           0           0         4,800         13,566        72,435         9,592
 2006          4,800           0           0           0         4,800         11,180        83,615         7,157
 2007          4,800           0           0           0         4,800          9,101        92,716         5,274
 2008          4,800           0           0           0         4,800          7,295       100,011         3,828
 2009          4,800           0           0           0         4,800          5,722       105,733         2,718
 2010          4,800           0           0           0         4,800          4,354       110,087         1,873
 2011          4,800           0           0           0         4,800          3,165       113,252         1,232
 2012          4,800           0           0           0         4,800          2,129       115,381           752
 2013          4,800           0           0           0         4,800          1,228       116,609           393
 2014          4,800           0           0           0         4,800            444       117,053           129
 2015            800           0           0           0           800              6       117,059             2
 2016              0           0           0           0             0              0       117,059             0

 SUBTOT       63,200           0           0           0        63,200        117,059                      84,496
 REMAIN            0           0           0           0             0              0       117,059             0
 TOTAL        63,200           0           0           0        63,200        117,059                      84,496

   LIFE OF EVALUATION IS 13.17 YEARS.
   FINAL PRODUCTION RATE: 58 BBLS/MO








                                 TENGASCO, INC.                        TABLE 258
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   MILLER PETROLEUM - OPERATOR                                                         PROVED
     ROSE #1   (TRENTON)                                                               SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                                                                       5.00% -             0
 FINAL   -   0.500000                                                                      10.00% -             0
 REMARKS - NO RESERVES ASSIGNED PENDING ADDITIONAL DATA.                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO





                                 TENGASCO, INC.                       TABLE 259
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #1   (TRENTON)                                                     PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000  0.437500                         16.25                               5.00% -         4,451
 FINAL   -   0.500000  0.437500                         16.25                              10.00% -         4,223
 REMARKS -                                                                                 15.00% -         4,014
                                                                                           20.00% -         3,822
                                                                                           25.00% -         3,645





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         1,051           0           0             460           0           0.000      16.25     0.00
 2003     1           913           0           0             399           0           0.000      16.25     0.00
 2004     1           796           0           0             348           0           0.000      16.25     0.00
 2005     1           300           0           0             132           0           0.000      16.25     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL          3,060           0           0           1,339           0           0.000      16.25     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL              3,060           0           0           1,339           0           0.000      16.25     0.00

 CUMULATIVE         4,543           0           0
 ULTIMATE           7,603           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                    
 2002            7,469           0             0            0         7,469         224           0         7,245
 2003            6,497           0             0            0         6,497         195           0         6,302
 2004            5,653           0             0            0         5,653         170           0         5,483
 2005            2,133           0             0            0         2,133          64           0         2,069
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT        21,752           0             0            0        21,752         653           0        21,099
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL          21,752           0             0            0        21,752         653           0        21,099






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          4,800           0           0           0         4,800          2,445         2,445         2,335
 2003          4,800           0           0           0         4,800          1,502         3,947         1,300
 2004          4,800           0           0           0         4,800            683         4,630           538
 2005          2,000           0           0           0         2,000             69         4,699            50
 2006              0           0           0           0             0              0         4,699             0
 2007              0           0           0           0             0              0         4,699             0
 2008              0           0           0           0             0              0         4,699             0
 2009              0           0           0           0             0              0         4,699             0
 2010              0           0           0           0             0              0         4,699             0
 2011              0           0           0           0             0              0         4,699             0
 2012              0           0           0           0             0              0         4,699             0
 2013              0           0           0           0             0              0         4,699             0
 2014              0           0           0           0             0              0         4,699             0
 2015              0           0           0           0             0              0         4,699             0
 2016              0           0           0           0             0              0         4,699             0

 SUBTOT       16,400           0           0           0        16,400          4,699                       4,223
 REMAIN            0           0           0           0             0              0         4,699             0
 TOTAL        16,400           0           0           0        16,400          4,699                       4,223

   LIFE OF EVALUATION IS 3.42 YEARS.
   FINAL PRODUCTION RATE: 59 BBLS/MO







                                 TENGASCO, INC.                        TABLE 260
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #2   (KNOX)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -        79,965
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -        73,857
 REMARKS -                                                                                 15.00% -        68,467
                                                                                           20.00% -        63,693
                                                                                           25.00% -        59,453





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          25               0           0          16.378       0.00     2.35
 2003     1             0           0          19               0           0          12.298       0.00     2.35
 2004     1             0           0          15               0           0          10.083       0.00     2.35
 2005     1             0           0          13               0           0           8.657       0.00     2.36
 2006     1             0           0           3               0           0           1.876       0.00     2.35
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0          75               0           0          49.292       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0          75               0           0          49.292       0.00     2.35

 CUMULATIVE             0           0          35
 ULTIMATE               0           0         110





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        38,571            0        38,571           0       1,157        37,414
 2003                0           0        28,961            0        28,961           0         869        28,092
 2004                0           0        23,745            0        23,745           0         712        23,033
 2005                0           0        20,387            0        20,387           0         612        19,775
 2006                0           0         4,418            0         4,418           0         132         4,286
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       116,082            0       116,082           0       3,482       112,600
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       116,082            0       116,082           0       3,482       112,600






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         31,414        31,414        30,004
 2003          6,000           0           0           0         6,000         22,092        53,506        19,080
 2004          6,000           0           0           0         6,000         17,033        70,539        13,310
 2005          6,000           0           0           0         6,000         13,775        84,314         9,741
 2006          1,691           0           0           0         1,691          2,595        86,909         1,722
 2007              0           0           0           0             0              0        86,909             0
 2008              0           0           0           0             0              0        86,909             0
 2009              0           0           0           0             0              0        86,909             0
 2010              0           0           0           0             0              0        86,909             0
 2011              0           0           0           0             0              0        86,909             0
 2012              0           0           0           0             0              0        86,909             0
 2013              0           0           0           0             0              0        86,909             0
 2014              0           0           0           0             0              0        86,909             0
 2015              0           0           0           0             0              0        86,909             0
 2016              0           0           0           0             0              0        86,909             0

 SUBTOT       25,691           0           0           0        25,691         86,909                      73,857
 REMAIN            0           0           0           0             0              0        86,909             0
 TOTAL        25,691           0           0           0        25,691         86,909                      73,857

   LIFE OF EVALUATION IS 4.23 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 261
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #3   (KNOX)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.765624                             2.35        5.00% -       635,275
 FINAL   -   1.000000                      0.765624                             2.35       10.00% -       466,045
 REMARKS -                                                                                 15.00% -       365,543
                                                                                           20.00% -       300,509
                                                                                           25.00% -       255,400





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          51               0           0          38.991       0.00     2.36
 2003     1             0           0          46               0           0          35.063       0.00     2.35
 2004     1             0           0          42               0           0          31.996       0.00     2.35
 2005     1             0           0          38               0           0          29.522       0.00     2.35
 2006     1             0           0          36               0           0          27.478       0.00     2.36
 2007     1             0           0          34               0           0          25.754       0.00     2.35
 2008     1             0           0          31               0           0          24.278       0.00     2.35
 2009     1             0           0          30               0           0          22.997       0.00     2.35
 2010     1             0           0          29               0           0          21.844       0.00     2.35
 2011     1             0           0          27               0           0          20.752       0.00     2.35
 2012     1             0           0          26               0           0          19.715       0.00     2.35
 2013     1             0           0          24               0           0          18.729       0.00     2.36
 2014     1             0           0          23               0           0          17.792       0.00     2.35
 2015     1             0           0          23               0           0          16.903       0.00     2.35
 2016     1             0           0          20               0           0          16.058       0.00     2.35

 SUB-TOTAL              0           0         480               0           0         367.872       0.00     2.35
 REMAINDER              0           0         165               0           0         125.931       0.00     2.35
 TOTAL                  0           0         645               0           0         493.803       0.00     2.35

 CUMULATIVE             0           0          49
 ULTIMATE               0           0         694





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0        91,824            0        91,824           0       2,755        89,069
 2003                0           0        82,573            0        82,573           0       2,477        80,096
 2004                0           0        75,350            0        75,350           0       2,260        73,090
 2005                0           0        69,525            0        69,525           0       2,086        67,439
 2006                0           0        64,711            0        64,711           0       1,941        62,770
 2007                0           0        60,651            0        60,651           0       1,820        58,831
 2008                0           0        57,175            0        57,175           0       1,715        55,460
 2009                0           0        54,158            0        54,158           0       1,625        52,533
 2010                0           0        51,443            0        51,443           0       1,543        49,900
 2011                0           0        48,872            0        48,872           0       1,466        47,406
 2012                0           0        46,428            0        46,428           0       1,393        45,035
 2013                0           0        44,106            0        44,106           0       1,323        42,783
 2014                0           0        41,901            0        41,901           0       1,258        40,643
 2015                0           0        39,806            0        39,806           0       1,194        38,612
 2016                0           0        37,816            0        37,816           0       1,134        36,682

 SUB-TOT             0           0       866,339            0       866,339           0      25,990       840,349
 REMAIN              0           0       296,566            0       296,566           0       8,897       287,669
 TOTAL               0           0     1,162,905            0     1,162,905           0      34,887     1,128,018






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         83,069        83,069        79,147
 2003          6,000           0           0           0         6,000         74,096       157,165        63,896
 2004          6,000           0           0           0         6,000         67,090       224,255        52,366
 2005          6,000           0           0           0         6,000         61,439       285,694        43,406
 2006          7,200           0           0           0         7,200         55,570       341,264        35,536
 2007          7,200           0           0           0         7,200         51,631       392,895        29,886
 2008          7,200           0           0           0         7,200         48,260       441,155        25,286
 2009          7,200           0           0           0         7,200         45,333       486,488        21,500
 2010          7,200           0           0           0         7,200         42,700       529,188        18,331
 2011          7,200           0           0           0         7,200         40,206       569,394        15,625
 2012          7,200           0           0           0         7,200         37,835       607,229        13,310
 2013          7,200           0           0           0         7,200         35,583       642,812        11,331
 2014          7,200           0           0           0         7,200         33,443       676,255         9,640
 2015          7,200           0           0           0         7,200         31,412       707,667         8,197
 2016          7,200           0           0           0         7,200         29,482       737,149         6,963

 SUBTOT      103,200           0           0           0       103,200        737,149                     434,420
 REMAIN       74,721           0           0           0        74,721        212,948       950,097        31,625
 TOTAL       177,921           0           0           0       177,921        950,097                     466,045

   LIFE OF EVALUATION IS 25.38 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 262
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


              SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #3 BP   (TRNT-SR-MFB)                                              BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.765624            0.765624     16.25                   2.35        5.00% -       111,486
 FINAL   -   1.000000  0.765624            0.765624     16.25                   2.35       10.00% -        29,926
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -         8,089
                                                                                           20.00% -         2,202
                                                                                           25.00% -           603





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER         38,700           0          26          29,630           0          19.906      16.25     2.36
 TOTAL             38,700           0          26          29,630           0          19.906      16.25     2.36

 CUMULATIVE             0           0           0
 ULTIMATE          38,700           0          26





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN        481,482           0        46,879            0       528,361      14,444       1,406       512,511
 TOTAL         481,482           0        46,879            0       528,361      14,444       1,406       512,511






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       44,195           0      50,000           0        94,195        418,316       418,316        29,926
 TOTAL        44,195           0      50,000           0        94,195        418,316                      29,926

   LIFE OF EVALUATION IS 30.02 YEARS.
   FINAL PRODUCTION RATE: 61 BBLS/MO






                                 TENGASCO, INC.                        TABLE 263
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     STEPHEN LAWSON #4   (KNOX)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - NO REMAINING RECOVERABLE ECONOMIC RESERVES.                                     15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           8
 ULTIMATE               0           0           8





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 264
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     STEPHEN LAWSON #4 BP   (STONES RIVER)                                             BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.656250            0.656250     16.25                   2.35        5.00% -        78,193
 FINAL   -   1.000000  0.656250            0.656250     16.25                   2.35       10.00% -        71,697
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -        65,813
                                                                                           20.00% -        60,477
                                                                                           25.00% -        55,631





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1         2,475           0           2           1,624           0           1.091      16.25     2.35
 2003     1         6,101           0           4           4,004           0           2.690      16.25     2.35
 2004     1         2,699           0           2           1,771           0           1.190      16.25     2.35
 2005     1         1,127           0           0             740           0           0.497      16.25     2.36
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL         12,402           0           8           8,139           0           5.468      16.25     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL             12,402           0           8           8,139           0           5.468      16.25     2.35

 CUMULATIVE             0           0           0
 ULTIMATE          12,402           0           8





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002           26,394           0         2,570            0        28,964         792          77        28,095
 2003           65,065           0         6,335            0        71,400       1,952         190        69,258
 2004           28,777           0         2,802            0        31,579         863          84        30,632
 2005           12,017           0         1,170            0        13,187         361          35        12,791
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT       132,253           0        12,877            0       145,130       3,968         386       140,776
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL         132,253           0        12,877            0       145,130       3,968         386       140,776






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          2,400           0      25,000           0        27,400            695           695           456
 2003          9,600           0           0           0         9,600         59,658        60,353        51,799
 2004          9,600           0           0           0         9,600         21,032        81,385        16,562
 2005          8,800           0           0           0         8,800          3,991        85,376         2,880
 2006              0           0           0           0             0              0        85,376             0
 2007              0           0           0           0             0              0        85,376             0
 2008              0           0           0           0             0              0        85,376             0
 2009              0           0           0           0             0              0        85,376             0
 2010              0           0           0           0             0              0        85,376             0
 2011              0           0           0           0             0              0        85,376             0
 2012              0           0           0           0             0              0        85,376             0
 2013              0           0           0           0             0              0        85,376             0
 2014              0           0           0           0             0              0        85,376             0
 2015              0           0           0           0             0              0        85,376             0
 2016              0           0           0           0             0              0        85,376             0

 SUBTOT       30,400           0      25,000           0        55,400         85,376                      71,697
 REMAIN            0           0           0           0             0              0        85,376             0
 TOTAL        30,400           0      25,000           0        55,400         85,376                      71,697

   LIFE OF EVALUATION IS 3.92 YEARS.
   FINAL PRODUCTION RATE: 71 BBLS/MO






                                 TENGASCO, INC.                        TABLE 265
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #5   (KNOX)                                                        PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       587,630
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       442,043
 REMARKS -                                                                                 15.00% -       354,088
                                                                                           20.00% -       296,179
                                                                                           25.00% -       255,346





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          66               0           0          43.232       0.00     2.35
 2003     1             0           0          55               0           0          36.167       0.00     2.35
 2004     1             0           0          48               0           0          31.430       0.00     2.35
 2005     1             0           0          43               0           0          27.993       0.00     2.35
 2006     1             0           0          38               0           0          25.365       0.00     2.35
 2007     1             0           0          36               0           0          23.279       0.00     2.35
 2008     1             0           0          33               0           0          21.575       0.00     2.35
 2009     1             0           0          30               0           0          20.152       0.00     2.35
 2010     1             0           0          29               0           0          18.943       0.00     2.35
 2011     1             0           0          27               0           0          17.900       0.00     2.35
 2012     1             0           0          26               0           0          16.986       0.00     2.35
 2013     1             0           0          25               0           0          16.137       0.00     2.35
 2014     1             0           0          23               0           0          15.330       0.00     2.35
 2015     1             0           0          22               0           0          14.564       0.00     2.35
 2016     1             0           0          21               0           0          13.836       0.00     2.35

 SUB-TOTAL              0           0         522               0           0         342.889       0.00     2.35
 REMAINDER              0           0         167               0           0         109.314       0.00     2.35
 TOTAL                  0           0         689               0           0         452.203       0.00     2.35

 CUMULATIVE             0           0          34
 ULTIMATE               0           0         723





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0       101,812            0       101,812           0       3,054        98,758
 2003                0           0        85,173            0        85,173           0       2,556        82,617
 2004                0           0        74,016            0        74,016           0       2,220        71,796
 2005                0           0        65,923            0        65,923           0       1,978        63,945
 2006                0           0        59,734            0        59,734           0       1,792        57,942
 2007                0           0        54,821            0        54,821           0       1,644        53,177
 2008                0           0        50,809            0        50,809           0       1,525        49,284
 2009                0           0        47,457            0        47,457           0       1,423        46,034
 2010                0           0        44,611            0        44,611           0       1,339        43,272
 2011                0           0        42,155            0        42,155           0       1,264        40,891
 2012                0           0        40,002            0        40,002           0       1,200        38,802
 2013                0           0        38,003            0        38,003           0       1,140        36,863
 2014                0           0        36,103            0        36,103           0       1,084        35,019
 2015                0           0        34,297            0        34,297           0       1,028        33,269
 2016                0           0        32,583            0        32,583           0         978        31,605

 SUB-TOT             0           0       807,499            0       807,499           0      24,225       783,274
 REMAIN              0           0       257,435            0       257,435           0       7,723       249,712
 TOTAL               0           0     1,064,934            0     1,064,934           0      31,948     1,032,986






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000         92,758        92,758        88,446
 2003          6,000           0           0           0         6,000         76,617       169,375        66,105
 2004          6,000           0           0           0         6,000         65,796       235,171        51,374
 2005          6,000           0           0           0         6,000         57,945       293,116        40,949
 2006          7,200           0           0           0         7,200         50,742       343,858        32,456
 2007          7,200           0           0           0         7,200         45,977       389,835        26,618
 2008          7,200           0           0           0         7,200         42,084       431,919        22,054
 2009          7,200           0           0           0         7,200         38,834       470,753        18,420
 2010          7,200           0           0           0         7,200         36,072       506,825        15,487
 2011          7,200           0           0           0         7,200         33,691       540,516        13,094
 2012          7,200           0           0           0         7,200         31,602       572,118        11,117
 2013          7,200           0           0           0         7,200         29,663       601,781         9,446
 2014          7,200           0           0           0         7,200         27,819       629,600         8,019
 2015          7,200           0           0           0         7,200         26,069       655,669         6,803
 2016          7,200           0           0           0         7,200         24,405       680,074         5,765

 SUBTOT      103,200           0           0           0       103,200        680,074                     416,153
 REMAIN       75,460           0           0           0        75,460        174,252       854,326        25,890
 TOTAL       178,660           0           0           0       178,660        854,326                     442,043

   LIFE OF EVALUATION IS 25.48 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 266
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #5 BP   (KNOX)                                                     BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -        34,534
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -         8,406
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX.                                15.00% -         2,070
                                                                                           20.00% -           516
                                                                                           25.00% -           130





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         139               0           0          91.007       0.00     2.35
 TOTAL                  0           0         139               0           0          91.007       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         139





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       214,321            0       214,321           0       6,430       207,891
 TOTAL               0           0       214,321            0       214,321           0       6,430       207,891






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       44,301           0      20,000           0        64,301        143,590       143,590         8,406
 TOTAL        44,301           0      20,000           0        64,301        143,590                       8,406

   LIFE OF EVALUATION IS 31.65 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 267
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     STEPHEN LAWSON #6   (KNOX)                                                        UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       461,577
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       305,374
 REMARKS - CAPITAL INCLUDED TO REDRILL LAWSON #3 TO RECOVER REMAINING KNOX                 15.00% -       210,072
           RESERVES.                                                                       20.00% -       147,453
                                                                                           25.00% -       103,936





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0         125               0           0          82.340       0.00     2.35
 2004     1             0           0          80               0           0          51.929       0.00     2.36
 2005     1             0           0          60               0           0          39.834       0.00     2.36
 2006     1             0           0          51               0           0          32.997       0.00     2.35
 2007     1             0           0          43               0           0          28.503       0.00     2.35
 2008     1             0           0          39               0           0          25.285       0.00     2.36
 2009     1             0           0          34               0           0          22.845       0.00     2.36
 2010     1             0           0          32               0           0          20.920       0.00     2.35
 2011     1             0           0          30               0           0          19.355       0.00     2.35
 2012     1             0           0          27               0           0          18.054       0.00     2.35
 2013     1             0           0          26               0           0          16.952       0.00     2.36
 2014     1             0           0          24               0           0          15.535       0.00     2.36
 2015     1             0           0          22               0           0          14.419       0.00     2.35
 2016     1             0           0          21               0           0          13.698       0.00     2.36

 SUB-TOTAL              0           0         614               0           0         402.666       0.00     2.35
 REMAINDER              0           0         162               0           0         106.688       0.00     2.35
 TOTAL                  0           0         776               0           0         509.354       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         776





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0             0            0             0           0           0             0
 2003                0           0       193,911            0       193,911           0       5,817       188,094
 2004                0           0       122,293            0       122,293           0       3,669       118,624
 2005                0           0        93,808            0        93,808           0       2,814        90,994
 2006                0           0        77,707            0        77,707           0       2,332        75,375
 2007                0           0        67,126            0        67,126           0       2,013        65,113
 2008                0           0        59,545            0        59,545           0       1,787        57,758
 2009                0           0        53,799            0        53,799           0       1,614        52,185
 2010                0           0        49,266            0        49,266           0       1,478        47,788
 2011                0           0        45,582            0        45,582           0       1,367        44,215
 2012                0           0        42,517            0        42,517           0       1,276        41,241
 2013                0           0        39,922            0        39,922           0       1,197        38,725
 2014                0           0        36,585            0        36,585           0       1,098        35,487
 2015                0           0        33,957            0        33,957           0       1,019        32,938
 2016                0           0        32,259            0        32,259           0         967        31,292

 SUB-TOT             0           0       948,277            0       948,277           0      28,448       919,829
 REMAIN              0           0       251,251            0       251,251           0       7,538       243,713
 TOTAL               0           0     1,199,528            0     1,199,528           0      35,986     1,163,542






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003          6,000           0     250,000           0       256,000        -67,906       -67,906       -67,618
 2004          6,000           0           0           0         6,000        112,624        44,718        88,085
 2005          6,000           0           0           0         6,000         84,994       129,712        60,120
 2006          7,200           0           0           0         7,200         68,175       197,887        43,634
 2007          7,200           0           0           0         7,200         57,913       255,800        33,544
 2008          7,200           0           0           0         7,200         50,558       306,358        26,503
 2009          7,200           0           0           0         7,200         44,985       351,343        21,343
 2010          7,200           0           0           0         7,200         40,588       391,931        17,430
 2011          7,200           0           0           0         7,200         37,015       428,946        14,388
 2012          7,200           0           0           0         7,200         34,041       462,987        11,977
 2013          7,200           0           0           0         7,200         31,525       494,512        10,040
 2014          7,200           0           0           0         7,200         28,287       522,799         8,161
 2015          7,200           0           0           0         7,200         25,738       548,537         6,716
 2016          7,200           0           0           0         7,200         24,092       572,629         5,691

 SUBTOT       97,200           0     250,000           0       347,200        572,629                     280,014
 REMAIN       74,045           0           0           0        74,045        169,668       742,297        25,360
 TOTAL       171,245           0     250,000           0       421,245        742,297                     305,374

   LIFE OF EVALUATION IS 25.28 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 268
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     STEPHEN LAWSON #7   (KNOX)                                                        UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.656250                             2.35        5.00% -       304,388
 FINAL   -   1.000000                      0.656250                             2.35       10.00% -       190,745
 REMARKS - CAPITAL INCLUDED TO REDRILL LAWSON #4 TO RECOVER REMAINING KNOX                 15.00% -       120,287
           RESERVES.                                                                       20.00% -        73,958
                                                                                           25.00% -        42,055





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0         101               0           0          66.114       0.00     2.36
 2004     1             0           0          63               0           0          41.828       0.00     2.36
 2005     1             0           0          49               0           0          32.116       0.00     2.36
 2006     1             0           0          41               0           0          26.617       0.00     2.35
 2007     1             0           0          35               0           0          22.999       0.00     2.36
 2008     1             0           0          31               0           0          20.405       0.00     2.35
 2009     1             0           0          28               0           0          18.439       0.00     2.36
 2010     1             0           0          26               0           0          16.887       0.00     2.35
 2011     1             0           0          24               0           0          15.625       0.00     2.35
 2012     1             0           0          22               0           0          14.576       0.00     2.35
 2013     1             0           0          21               0           0          13.687       0.00     2.36
 2014     1             0           0          20               0           0          12.922       0.00     2.35
 2015     1             0           0          18               0           0          12.255       0.00     2.35
 2016     1             0           0          18               0           0          11.642       0.00     2.35

 SUB-TOTAL              0           0         497               0           0         326.112       0.00     2.35
 REMAINDER              0           0         103               0           0          67.639       0.00     2.35
 TOTAL                  0           0         600               0           0         393.751       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         600





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       155,699            0       155,699           0       4,671       151,028
 2004                0           0        98,504            0        98,504           0       2,955        95,549
 2005                0           0        75,634            0        75,634           0       2,269        73,365
 2006                0           0        62,681            0        62,681           0       1,881        60,800
 2007                0           0        54,163            0        54,163           0       1,624        52,539
 2008                0           0        48,054            0        48,054           0       1,442        46,612
 2009                0           0        43,424            0        43,424           0       1,303        42,121
 2010                0           0        39,768            0        39,768           0       1,193        38,575
 2011                0           0        36,798            0        36,798           0       1,104        35,694
 2012                0           0        34,326            0        34,326           0       1,030        33,296
 2013                0           0        32,232            0        32,232           0         967        31,265
 2014                0           0        30,431            0        30,431           0         912        29,519
 2015                0           0        28,860            0        28,860           0         866        27,994
 2016                0           0        27,418            0        27,418           0         823        26,595

 SUB-TOT             0           0       767,992            0       767,992           0      23,040       744,952
 REMAIN              0           0       159,289            0       159,289           0       4,778       154,511
 TOTAL               0           0       927,281            0       927,281           0      27,818       899,463






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003          6,000           0     250,000           0       256,000       -104,972      -104,972       -99,729
 2004          6,000           0           0           0         6,000         89,549       -15,423        70,039
 2005          6,000           0           0           0         6,000         67,365        51,942        47,652
 2006          7,200           0           0           0         7,200         53,600       105,542        34,307
 2007          7,200           0           0           0         7,200         45,339       150,881        26,261
 2008          7,200           0           0           0         7,200         39,412       190,293        20,661
 2009          7,200           0           0           0         7,200         34,921       225,214        16,569
 2010          7,200           0           0           0         7,200         31,375       256,589        13,474
 2011          7,200           0           0           0         7,200         28,494       285,083        11,077
 2012          7,200           0           0           0         7,200         26,096       311,179         9,182
 2013          7,200           0           0           0         7,200         24,065       335,244         7,664
 2014          7,200           0           0           0         7,200         22,319       357,563         6,434
 2015          7,200           0           0           0         7,200         20,794       378,357         5,426
 2016          7,200           0           0           0         7,200         19,395       397,752         4,582

 SUBTOT       97,200           0     250,000           0       347,200        397,752                     173,599
 REMAIN       51,229           0           0           0        51,229        103,282       501,034        17,146
 TOTAL       148,429           0     250,000           0       398,429        501,034                     190,745

   LIFE OF EVALUATION IS 22.12 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 269
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     T.J. HARRISON #1   (TRENTON)                                                      SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                    
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - NO RESERVES ASSIGNED PENDING ADDITIONAL DATA.                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE           699           0           0
 ULTIMATE             699           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0 BBLS/MO








                                 TENGASCO, INC.                        TABLE 270
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     WARREN REED #1   (KNOX)                                                           SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       327,531
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       225,718
 REMARKS -                                                                                 15.00% -       167,224
                                                                                           20.00% -       130,074
                                                                                           25.00% -       104,673





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          23               0           0          20.474       0.00     2.35
 2004     1             0           0          23               0           0          19.451       0.00     2.35
 2005     1             0           0          21               0           0          18.479       0.00     2.35
 2006     1             0           0          20               0           0          17.555       0.00     2.35
 2007     1             0           0          19               0           0          16.677       0.00     2.35
 2008     1             0           0          18               0           0          15.843       0.00     2.35
 2009     1             0           0          17               0           0          15.051       0.00     2.36
 2010     1             0           0          17               0           0          14.298       0.00     2.35
 2011     1             0           0          15               0           0          13.583       0.00     2.35
 2012     1             0           0          15               0           0          12.904       0.00     2.35
 2013     1             0           0          14               0           0          12.259       0.00     2.35
 2014     1             0           0          13               0           0          11.646       0.00     2.35
 2015     1             0           0          13               0           0          11.064       0.00     2.35
 2016     1             0           0          12               0           0          10.511       0.00     2.35

 SUB-TOTAL              0           0         240               0           0         209.795       0.00     2.36
 REMAINDER              0           0         143               0           0         125.359       0.00     2.35
 TOTAL                  0           0         383               0           0         335.154       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         383





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        48,216            0        48,216           0       1,446        46,770
 2004                0           0        45,808            0        45,808           0       1,375        44,433
 2005                0           0        43,517            0        43,517           0       1,305        42,212
 2006                0           0        41,341            0        41,341           0       1,240        40,101
 2007                0           0        39,274            0        39,274           0       1,179        38,095
 2008                0           0        37,311            0        37,311           0       1,119        36,192
 2009                0           0        35,445            0        35,445           0       1,063        34,382
 2010                0           0        33,672            0        33,672           0       1,011        32,661
 2011                0           0        31,990            0        31,990           0         959        31,031
 2012                0           0        30,389            0        30,389           0         912        29,477
 2013                0           0        28,870            0        28,870           0         866        28,004
 2014                0           0        27,427            0        27,427           0         823        26,604
 2015                0           0        26,055            0        26,055           0         781        25,274
 2016                0           0        24,753            0        24,753           0         743        24,010

 SUB-TOT             0           0       494,068            0       494,068           0      14,822       479,246
 REMAIN              0           0       295,221            0       295,221           0       8,857       286,364
 TOTAL               0           0       789,289            0       789,289           0      23,679       765,610






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003          6,000           0           0           0         6,000         40,770        40,770        35,144
 2004          6,000           0           0           0         6,000         38,433        79,203        29,990
 2005          6,000           0           0           0         6,000         36,212       115,415        25,578
 2006          7,200           0           0           0         7,200         32,901       148,316        21,037
 2007          7,200           0           0           0         7,200         30,895       179,211        17,883
 2008          7,200           0           0           0         7,200         28,992       208,203        15,190
 2009          7,200           0           0           0         7,200         27,182       235,385        12,892
 2010          7,200           0           0           0         7,200         25,461       260,846        10,931
 2011          7,200           0           0           0         7,200         23,831       284,677         9,262
 2012          7,200           0           0           0         7,200         22,277       306,954         7,837
 2013          7,200           0           0           0         7,200         20,804       327,758         6,625
 2014          7,200           0           0           0         7,200         19,404       347,162         5,594
 2015          7,200           0           0           0         7,200         18,074       365,236         4,716
 2016          7,200           0           0           0         7,200         16,810       382,046         3,971

 SUBTOT       97,200           0           0           0        97,200        382,046                     206,650
 REMAIN      138,705           0           0           0       138,705        147,659       529,705        19,068
 TOTAL       235,905           0           0           0       235,905        529,705                     225,718

   LIFE OF EVALUATION IS 34.26 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO






                                 TENGASCO, INC.                        TABLE 271
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           OIL LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     WARREN REED #1 BP   (TRENTON)                                                     BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000  0.875000                         16.25                               5.00% -         8,820
 FINAL   -   1.000000  0.875000                         16.25                              10.00% -         1,525
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -           266
                                                                                           20.00% -            47
                                                                                           25.00% -             8





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER          7,338           0           0           6,420           0           0.000      16.25     0.00
 TOTAL              7,338           0           0           6,420           0           0.000      16.25     0.00

 CUMULATIVE             0           0           0
 ULTIMATE           7,338           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN        104,331           0             0            0       104,331       3,130           0       101,201
 TOTAL         104,331           0             0            0       104,331       3,130           0       101,201






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       24,800           0      25,000           0        49,800         51,401        51,401         1,525
 TOTAL        24,800           0      25,000           0        49,800         51,401                       1,525

   LIFE OF EVALUATION IS 36.92 YEARS.
   FINAL PRODUCTION RATE: 62 BBLS/MO






                                 TENGASCO, INC.                        TABLE 272
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     WARREN REED #2   (KNOX)                                                           PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.781250                             2.35        5.00% -       745,808
 FINAL   -   1.000000                      0.781250                             2.35       10.00% -       605,842
 REMARKS -                                                                                 15.00% -       514,663
                                                                                           20.00% -       451,053
                                                                                           25.00% -       404,092





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0         119               0           0          92.930       0.00     2.35
 2003     1             0           0          68               0           0          53.381       0.00     2.35
 2004     1             0           0          51               0           0          39.926       0.00     2.36
 2005     1             0           0          42               0           0          32.675       0.00     2.35
 2006     1             0           0          36               0           0          28.024       0.00     2.36
 2007     1             0           0          32               0           0          24.742       0.00     2.35
 2008     1             0           0          28               0           0          22.279       0.00     2.35
 2009     1             0           0          26               0           0          20.350       0.00     2.35
 2010     1             0           0          24               0           0          18.792       0.00     2.35
 2011     1             0           0          23               0           0          17.501       0.00     2.35
 2012     1             0           0          21               0           0          16.412       0.00     2.35
 2013     1             0           0          20               0           0          15.477       0.00     2.36
 2014     1             0           0          18               0           0          14.665       0.00     2.35
 2015     1             0           0          18               0           0          13.930       0.00     2.35
 2016     1             0           0          17               0           0          13.234       0.00     2.35

 SUB-TOTAL              0           0         543               0           0         424.318       0.00     2.35
 REMAINDER              0           0          88               0           0          68.656       0.00     2.35
 TOTAL                  0           0         631               0           0         492.974       0.00     2.35

 CUMULATIVE             0           0         207
 ULTIMATE               0           0         838





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0       218,849            0       218,849           0       6,565       212,284
 2003                0           0       125,712            0       125,712           0       3,772       121,940
 2004                0           0        94,026            0        94,026           0       2,821        91,205
 2005                0           0        76,950            0        76,950           0       2,308        74,642
 2006                0           0        65,996            0        65,996           0       1,980        64,016
 2007                0           0        58,267            0        58,267           0       1,748        56,519
 2008                0           0        52,467            0        52,467           0       1,574        50,893
 2009                0           0        47,925            0        47,925           0       1,438        46,487
 2010                0           0        44,254            0        44,254           0       1,327        42,927
 2011                0           0        41,216            0        41,216           0       1,237        39,979
 2012                0           0        38,649            0        38,649           0       1,159        37,490
 2013                0           0        36,449            0        36,449           0       1,094        35,355
 2014                0           0        34,536            0        34,536           0       1,036        33,500
 2015                0           0        32,806            0        32,806           0         984        31,822
 2016                0           0        31,165            0        31,165           0         935        30,230

 SUB-TOT             0           0       999,267            0       999,267           0      29,978       969,289
 REMAIN              0           0       161,685            0       161,685           0       4,851       156,834
 TOTAL               0           0     1,160,952            0     1,160,952           0      34,829     1,126,123






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          6,000           0           0           0         6,000        206,284       206,284       197,712
 2003          6,000           0           0           0         6,000        115,940       322,224       100,204
 2004          6,000           0           0           0         6,000         85,205       407,429        66,590
 2005          6,000           0           0           0         6,000         68,642       476,071        48,536
 2006          7,200           0           0           0         7,200         56,816       532,887        36,356
 2007          7,200           0           0           0         7,200         49,319       582,206        28,562
 2008          7,200           0           0           0         7,200         43,693       625,899        22,902
 2009          7,200           0           0           0         7,200         39,287       665,186        18,639
 2010          7,200           0           0           0         7,200         35,727       700,913        15,342
 2011          7,200           0           0           0         7,200         32,779       733,692        12,740
 2012          7,200           0           0           0         7,200         30,290       763,982        10,657
 2013          7,200           0           0           0         7,200         28,155       792,137         8,967
 2014          7,200           0           0           0         7,200         26,300       818,437         7,581
 2015          7,200           0           0           0         7,200         24,622       843,059         6,425
 2016          7,200           0           0           0         7,200         23,030       866,089         5,440

 SUBTOT      103,200           0           0           0       103,200        866,089                     586,653
 REMAIN       44,764           0           0           0        44,764        112,070       978,159        19,189
 TOTAL       147,964           0           0           0       147,964        978,159                     605,842

   LIFE OF EVALUATION IS 21.22 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 273
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     WARREN REED #2 BP1   (KNOX)                                                       BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.781250                             2.35        5.00% -     2,417,536
 FINAL   -   1.000000                      0.781250                             2.35       10.00% -     1,693,132
 REMARKS - CAPITAL INCLUDED TO PERFORATE REMAINDER OF KNOX PAY.                            15.00% -     1,296,756
                                                                                           20.00% -     1,044,503
                                                                                           25.00% -       868,030





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0         308               0           0         240.866       0.00     2.35
 2004     1             0           0         183               0           0         143.043       0.00     2.35
 2005     1             0           0         145               0           0         112.594       0.00     2.36
 2006     1             0           0         122               0           0          95.936       0.00     2.36
 2007     1             0           0         109               0           0          85.020       0.00     2.36
 2008     1             0           0          99               0           0          77.153       0.00     2.35
 2009     1             0           0          91               0           0          71.134       0.00     2.36
 2010     1             0           0          85               0           0          66.337       0.00     2.35
 2011     1             0           0          80               0           0          62.396       0.00     2.36
 2012     1             0           0          75               0           0          59.081       0.00     2.35
 2013     1             0           0          72               0           0          56.121       0.00     2.36
 2014     1             0           0          68               0           0          53.315       0.00     2.36
 2015     1             0           0          65               0           0          50.649       0.00     2.36
 2016     1             0           0          62               0           0          48.116       0.00     2.35

 SUB-TOTAL              0           0       1,564               0           0       1,221.761       0.00     2.35
 REMAINDER              0           0         936               0           0         731.363       0.00     2.35
 TOTAL                  0           0       2,500               0           0       1,953.124       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0       2,500





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0             0            0             0           0           0             0
 2003                0           0       567,239            0       567,239           0      17,017       550,222
 2004                0           0       336,867            0       336,867           0      10,106       326,761
 2005                0           0       265,159            0       265,159           0       7,955       257,204
 2006                0           0       225,929            0       225,929           0       6,778       219,151
 2007                0           0       200,223            0       200,223           0       6,006       194,217
 2008                0           0       181,695            0       181,695           0       5,451       176,244
 2009                0           0       167,521            0       167,521           0       5,026       162,495
 2010                0           0       156,224            0       156,224           0       4,687       151,537
 2011                0           0       146,943            0       146,943           0       4,408       142,535
 2012                0           0       139,136            0       139,136           0       4,174       134,962
 2013                0           0       132,164            0       132,164           0       3,965       128,199
 2014                0           0       125,556            0       125,556           0       3,767       121,789
 2015                0           0       119,278            0       119,278           0       3,578       115,700
 2016                0           0       113,315            0       113,315           0       3,399       109,916

 SUB-TOT             0           0     2,877,249            0     2,877,249           0      86,317     2,790,932
 REMAIN              0           0     1,722,360            0     1,722,360           0      51,671     1,670,689
 TOTAL               0           0     4,599,609            0     4,599,609           0     137,988     4,461,621






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0      40,000           0        40,000        -40,000       -40,000       -39,834
 2003          6,000           0           0           0         6,000        544,222       504,222       472,260
 2004          6,000           0           0           0         6,000        320,761       824,983       250,807
 2005          6,000           0           0           0         6,000        251,204     1,076,187       177,631
 2006          7,200           0           0           0         7,200        211,951     1,288,138       135,611
 2007          7,200           0           0           0         7,200        187,017     1,475,155       108,289
 2008          7,200           0           0           0         7,200        169,044     1,644,199        88,590
 2009          7,200           0           0           0         7,200        155,295     1,799,494        73,662
 2010          7,200           0           0           0         7,200        144,337     1,943,831        61,970
 2011          7,200           0           0           0         7,200        135,335     2,079,166        52,594
 2012          7,200           0           0           0         7,200        127,762     2,206,928        44,942
 2013          7,200           0           0           0         7,200        120,999     2,327,927        38,529
 2014          7,200           0           0           0         7,200        114,589     2,442,516        33,029
 2015          7,200           0           0           0         7,200        108,500     2,551,016        28,310
 2016          7,200           0           0           0         7,200        102,716     2,653,732        24,260

 SUBTOT       97,200           0      40,000           0       137,200      2,653,732                   1,550,650
 REMAIN      225,910           0           0           0       225,910      1,444,779     4,098,511       142,482
 TOTAL       323,110           0      40,000           0       363,110      4,098,511                   1,693,132

   LIFE OF EVALUATION IS 46.38 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 274
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     WARREN REED #2 BP2   (SR-MFB)                                                     BEHIND PIPE


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.781250                             2.35        5.00% -        18,387
 FINAL   -   1.000000                      0.781250                             2.35       10.00% -         1,503
 REMARKS - RECOMPLETION COST IS SHOWN AS A DEVELOPMENT COST.                               15.00% -           126
                                                                                           20.00% -            11
                                                                                           25.00% -             1





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0         181               0           0         141.406       0.00     2.35
 TOTAL                  0           0         181               0           0         141.406       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         181





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0       333,012            0       333,012           0       9,990       323,022
 TOTAL               0           0       333,012            0       333,012           0       9,990       323,022






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN       72,028           0      20,000           0        92,028        230,994       230,994         1,503
 TOTAL        72,028           0      20,000           0        92,028        230,994                       1,503

   LIFE OF EVALUATION IS 56.42 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 275
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   MILLER PETR.. - OPERATOR   12-T1S-R74E                                              PROVED
     WELLS/YEARY NO. 1   (REEDSVILLE-TRENTON)                                          PRODUCING


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.437500                             2.35        5.00% -       149,028
 FINAL   -   0.500000                      0.437500                             2.35       10.00% -       124,294
 REMARKS -                                                                                 15.00% -       105,809
                                                                                           20.00% -        91,691
                                                                                           25.00% -        80,684





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          33               0           0          14.519       0.00     2.35
 2003     1             0           0          29               0           0          12.705       0.00     2.35
 2004     1             0           0          26               0           0          11.215       0.00     2.35
 2005     1             0           0          23               0           0           9.976       0.00     2.36
 2006     1             0           0          20               0           0           8.934       0.00     2.35
 2007     1             0           0          18               0           0           8.050       0.00     2.36
 2008     1             0           0          17               0           0           7.293       0.00     2.35
 2009     1             0           0          15               0           0           6.639       0.00     2.35
 2010     1             0           0          14               0           0           6.071       0.00     2.36
 2011     1             0           0          13               0           0           5.574       0.00     2.35
 2012     1             0           0          12               0           0           5.136       0.00     2.35
 2013     1             0           0           4               0           0           1.889       0.00     2.35
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0         224               0           0          98.001       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         224               0           0          98.001       0.00     2.35

 CUMULATIVE             0           0           3
 ULTIMATE               0           0         227





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0        34,193            0        34,193           0       1,026        33,167
 2003                0           0        29,919            0        29,919           0         897        29,022
 2004                0           0        26,411            0        26,411           0         793        25,618
 2005                0           0        23,492            0        23,492           0         704        22,788
 2006                0           0        21,041            0        21,041           0         632        20,409
 2007                0           0        18,958            0        18,958           0         568        18,390
 2008                0           0        17,174            0        17,174           0         516        16,658
 2009                0           0        15,635            0        15,635           0         469        15,166
 2010                0           0        14,297            0        14,297           0         429        13,868
 2011                0           0        13,126            0        13,126           0         393        12,733
 2012                0           0        12,095            0        12,095           0         363        11,732
 2013                0           0         4,449            0         4,449           0         134         4,315
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0       230,790            0       230,790           0       6,924       223,866
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       230,790            0       230,790           0       6,924       223,866






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    
 2002          3,600           0           0           0         3,600         29,567        29,567        28,178
 2003          3,600           0           0           0         3,600         25,422        54,989        21,930
 2004          3,600           0           0           0         3,600         22,018        77,007        17,193
 2005          3,600           0           0           0         3,600         19,188        96,195        13,562
 2006          3,600           0           0           0         3,600         16,809       113,004        10,753
 2007          3,600           0           0           0         3,600         14,790       127,794         8,565
 2008          3,600           0           0           0         3,600         13,058       140,852         6,845
 2009          3,600           0           0           0         3,600         11,566       152,418         5,488
 2010          3,600           0           0           0         3,600         10,268       162,686         4,411
 2011          3,600           0           0           0         3,600          9,133       171,819         3,551
 2012          3,600           0           0           0         3,600          8,132       179,951         2,862
 2013          1,399           0           0           0         1,399          2,916       182,867           956
 2014              0           0           0           0             0              0       182,867             0
 2015              0           0           0           0             0              0       182,867             0
 2016              0           0           0           0             0              0       182,867             0

 SUBTOT       40,999           0           0           0        40,999        182,867                     124,294
 REMAIN            0           0           0           0             0              0       182,867             0
 TOTAL        40,999           0           0           0        40,999        182,867                     124,294

   LIFE OF EVALUATION IS 11.39 YEARS.
   FINAL PRODUCTION RATE: 0.9 MMCF/MO





                                 TENGASCO, INC.                        TABLE 276
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


              SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
   MILLER PETROLEUM - OPERATOR   14-T1S-R74E                                           PROVED
     WOODROW DAVIS #1   (KNOX)                                                         SHUT-IN


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   0.500000                      0.438125                             2.35        5.00% -       177,052
 FINAL   -   0.500000                      0.438125                             2.35       10.00% -       138,622
 REMARKS -                                                                                 15.00% -       111,717
                                                                                           20.00% -        92,203
                                                                                           25.00% -        77,583





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          46               0           0          20.083       0.00     2.36
 2004     1             0           0          32               0           0          14.303       0.00     2.36
 2005     1             0           0          27               0           0          11.743       0.00     2.35
 2006     1             0           0          24               0           0          10.204       0.00     2.35
 2007     1             0           0          20               0           0           9.147       0.00     2.35
 2008     1             0           0          20               0           0           8.363       0.00     2.35
 2009     1             0           0          17               0           0           7.752       0.00     2.35
 2010     1             0           0          17               0           0           7.258       0.00     2.35
 2011     1             0           0          15               0           0           6.847       0.00     2.35
 2012     1             0           0          15               0           0           6.497       0.00     2.35
 2013     1             0           0          14               0           0           6.172       0.00     2.35
 2014     1             0           0          14               0           0           5.864       0.00     2.35
 2015     1             0           0          12               0           0           5.571       0.00     2.36
 2016     1             0           0           8               0           0           3.321       0.00     2.35

 SUB-TOTAL              0           0         281               0           0         123.125       0.00     2.35
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0         281               0           0         123.125       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         281





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        47,295            0        47,295           0       1,419        45,876
 2004                0           0        33,684            0        33,684           0       1,010        32,674
 2005                0           0        27,654            0        27,654           0         830        26,824
 2006                0           0        24,031            0        24,031           0         721        23,310
 2007                0           0        21,541            0        21,541           0         646        20,895
 2008                0           0        19,695            0        19,695           0         591        19,104
 2009                0           0        18,255            0        18,255           0         548        17,707
 2010                0           0        17,092            0        17,092           0         512        16,580
 2011                0           0        16,126            0        16,126           0         484        15,642
 2012                0           0        15,301            0        15,301           0         459        14,842
 2013                0           0        14,536            0        14,536           0         436        14,100
 2014                0           0        13,809            0        13,809           0         415        13,394
 2015                0           0        13,119            0        13,119           0         393        12,726
 2016                0           0         7,822            0         7,822           0         235         7,587

 SUB-TOT             0           0       289,960            0       289,960           0       8,699       281,261
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0       289,960            0       289,960           0       8,699       281,261






                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                    

 2002              0           0           0           0             0              0             0             0
 2003          3,000           0           0           0         3,000         42,876        42,876        37,096
 2004          3,000           0           0           0         3,000         29,674        72,550        23,194
 2005          3,000           0           0           0         3,000         23,824        96,374        16,845
 2006          3,600           0           0           0         3,600         19,710       116,084        12,611
 2007          3,600           0           0           0         3,600         17,295       133,379        10,015
 2008          3,600           0           0           0         3,600         15,504       148,883         8,126
 2009          3,600           0           0           0         3,600         14,107       162,990         6,692
 2010          3,600           0           0           0         3,600         12,980       175,970         5,573
 2011          3,600           0           0           0         3,600         12,042       188,012         4,680
 2012          3,600           0           0           0         3,600         11,242       199,254         3,955
 2013          3,600           0           0           0         3,600         10,500       209,754         3,344
 2014          3,600           0           0           0         3,600          9,794       219,548         2,823
 2015          3,600           0           0           0         3,600          9,126       228,674         2,382
 2016          2,238           0           0           0         2,238          5,349       234,023         1,286

 SUBTOT       47,238           0           0           0        47,238        234,023                     138,622
 REMAIN            0           0           0           0             0              0       234,023             0
 TOTAL        47,238           0           0           0        47,238        234,023                     138,622

   LIFE OF EVALUATION IS 14.62 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 277
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION # 4   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       459,892
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       341,177
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       260,212
                                                                                           20.00% -       202,251
                                                                                           25.00% -       159,067





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002     1             0           0          40               0           0          34.699       0.00     2.35
 2003     1             0           0         103               0           0          90.492       0.00     2.35
 2004     1             0           0          66               0           0          57.846       0.00     2.36
 2005     1             0           0          45               0           0          39.270       0.00     2.35
 2006     1             0           0          32               0           0          27.910       0.00     2.35
 2007     1             0           0          23               0           0          20.565       0.00     2.35
 2008     1             0           0          26               0           0          21.945       0.00     2.35
 2009     1             0           0          22               0           0          19.807       0.00     2.35
 2010     1             0           0          21               0           0          17.971       0.00     2.36
 2011     1             0           0          18               0           0          16.383       0.00     2.36
 2012     1             0           0          18               0           0          14.999       0.00     2.36
 2013     1             0           0          15               0           0          13.786       0.00     2.35
 2014     1             0           0          15               0           0          12.717       0.00     2.36
 2015     1             0           0          13               0           0          11.769       0.00     2.35
 2016     1             0           0          13               0           0          10.925       0.00     2.36

 SUB-TOTAL              0           0         470               0           0         411.084       0.00     2.35
 REMAINDER              0           0          40               0           0          35.604       0.00     2.36
 TOTAL                  0           0         510               0           0         446.688       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         510





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0        81,715            0        81,715           0       2,451        79,264
 2003                0           0       213,109            0       213,109           0       6,394       206,715
 2004                0           0       136,227            0       136,227           0       4,087       132,140
 2005                0           0        92,482            0        92,482           0       2,774        89,708
 2006                0           0        65,728            0        65,728           0       1,972        63,756
 2007                0           0        48,431            0        48,431           0       1,453        46,978
 2008                0           0        51,681            0        51,681           0       1,550        50,131
 2009                0           0        46,645            0        46,645           0       1,400        45,245
 2010                0           0        42,322            0        42,322           0       1,269        41,053
 2011                0           0        38,581            0        38,581           0       1,158        37,423
 2012                0           0        35,322            0        35,322           0       1,059        34,263
 2013                0           0        32,466            0        32,466           0         974        31,492
 2014                0           0        29,948            0        29,948           0         899        29,049
 2015                0           0        27,716            0        27,716           0         831        26,885
 2016                0           0        25,729            0        25,729           0         772        24,957

 SUB-TOT             0           0       968,102            0       968,102           0      29,043       939,059
 REMAIN              0           0        83,847            0        83,847           0       2,515        81,332
 TOTAL               0           0     1,051,949            0     1,051,949           0      31,558     1,020,391






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002          1,500           0     250,000           0       251,500       -172,236      -172,236      -159,685
 2003          6,000           0           0           0         6,000        200,715        28,479       173,640
 2004          6,000           0           0           0         6,000        126,140       154,619        98,730
 2005          6,000           0           0           0         6,000         83,708       238,327        59,287
 2006          7,200           0           0           0         7,200         56,556       294,883        36,251
 2007          7,200           0           0           0         7,200         39,778       334,661        23,077
 2008          7,200           0           0           0         7,200         42,931       377,592        22,504
 2009          7,200           0           0           0         7,200         38,045       415,637        18,052
 2010          7,200           0           0           0         7,200         33,853       449,490        14,540
 2011          7,200           0           0           0         7,200         30,223       479,713        11,751
 2012          7,200           0           0           0         7,200         27,063       506,776         9,524
 2013          7,200           0           0           0         7,200         24,292       531,068         7,738
 2014          7,200           0           0           0         7,200         21,849       552,917         6,301
 2015          7,200           0           0           0         7,200         19,685       572,602         5,138
 2016          7,200           0           0           0         7,200         17,757       590,359         4,195

 SUBTOT       98,700           0     250,000           0       348,700        590,359                     331,043
 REMAIN       27,676           0           0           0        27,676         53,656       644,015        10,134
 TOTAL       126,376           0     250,000           0       376,376        644,015                     341,177

   LIFE OF EVALUATION IS 18.84 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO




                                 TENGASCO, INC.                        TABLE 278
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LOCATION # 5   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -     1,141,721
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       888,083
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       715,034
                                                                                           20.00% -       590,553
                                                                                           25.00% -       496,981





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                 
 2002     1             0           0          74               0           0          65.054       0.00     2.36
 2003     1             0           0         194               0           0         169.657       0.00     2.35
 2004     1             0           0         124               0           0         108.451       0.00     2.35
 2005     1             0           0          84               0           0          73.625       0.00     2.35
 2006     1             0           0          60               0           0          52.327       0.00     2.35
 2007     1             0           0          44               0           0          38.556       0.00     2.35
 2008     1             0           0          47               0           0          41.144       0.00     2.35
 2009     1             0           0          43               0           0          37.134       0.00     2.35
 2010     1             0           0          38               0           0          33.692       0.00     2.35
 2011     1             0           0          35               0           0          30.714       0.00     2.35
 2012     1             0           0          32               0           0          28.120       0.00     2.35
 2013     1             0           0          30               0           0          25.846       0.00     2.35
 2014     1             0           0          27               0           0          23.842       0.00     2.35
 2015     1             0           0          25               0           0          22.065       0.00     2.35
 2016     1             0           0          24               0           0          20.483       0.00     2.35

 SUB-TOTAL              0           0         881               0           0         770.710       0.00     2.35
 REMAINDER              0           0          76               0           0          66.751       0.00     2.36
 TOTAL                  0           0         957               0           0         837.461       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         957





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0       153,202            0       153,202           0       4,596       148,606
 2003                0           0       399,543            0       399,543           0      11,986       387,557
 2004                0           0       255,402            0       255,402           0       7,662       247,740
 2005                0           0       173,388            0       173,388           0       5,202       168,186
 2006                0           0       123,229            0       123,229           0       3,697       119,532
 2007                0           0        90,800            0        90,800           0       2,724        88,076
 2008                0           0        96,893            0        96,893           0       2,907        93,986
 2009                0           0        87,451            0        87,451           0       2,623        84,828
 2010                0           0        79,346            0        79,346           0       2,381        76,965
 2011                0           0        72,332            0        72,332           0       2,170        70,162
 2012                0           0        66,223            0        66,223           0       1,986        64,237
 2013                0           0        60,869            0        60,869           0       1,826        59,043
 2014                0           0        56,147            0        56,147           0       1,685        54,462
 2015                0           0        51,963            0        51,963           0       1,559        50,404
 2016                0           0        48,237            0        48,237           0       1,447        46,790

 SUB-TOT             0           0     1,815,025            0     1,815,025           0      54,451     1,760,574
 REMAIN              0           0       157,199            0       157,199           0       4,716       152,483
 TOTAL               0           0     1,972,224            0     1,972,224           0      59,167     1,913,057






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0     250,000           0       251,500       -102,894      -102,894       -96,053
 2003          6,000           0           0           0         6,000        381,557       278,663       330,070
 2004          6,000           0           0           0         6,000        241,740       520,403       189,196
 2005          6,000           0           0           0         6,000        162,186       682,589       114,856
 2006          7,200           0           0           0         7,200        112,332       794,921        71,991
 2007          7,200           0           0           0         7,200         80,876       875,797        46,909
 2008          7,200           0           0           0         7,200         86,786       962,583        45,490
 2009          7,200           0           0           0         7,200         77,628     1,040,211        36,831
 2010          7,200           0           0           0         7,200         69,765     1,109,976        29,962
 2011          7,200           0           0           0         7,200         62,962     1,172,938        24,476
 2012          7,200           0           0           0         7,200         57,037     1,229,975        20,071
 2013          7,200           0           0           0         7,200         51,843     1,281,818        16,513
 2014          7,200           0           0           0         7,200         47,262     1,329,080        13,627
 2015          7,200           0           0           0         7,200         43,204     1,372,284        11,276
 2016          7,200           0           0           0         7,200         39,590     1,411,874         9,353

 SUBTOT       98,700           0     250,000           0       348,700      1,411,874                     864,568
 REMAIN       27,676           0           0           0        27,676        124,807     1,536,681        23,515
 TOTAL       126,376           0     250,000           0       376,376      1,536,681                     888,083

   LIFE OF EVALUATION IS 18.84 YEARS.
   FINAL PRODUCTION RATE: 1.5 MMCF/MO







                                 TENGASCO, INC.                        TABLE 279
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   6-T1S-R75E                                               PROVED
     LOCATION # 8   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -     1,823,704
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -     1,435,112
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -     1,169,958
                                                                                           20.00% -       978,943
                                                                                           25.00% -       834,971





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002     1             0           0         109               0           0          95.416       0.00     2.36
 2003     1             0           0         284               0           0         248.840       0.00     2.35
 2004     1             0           0         182               0           0         159.068       0.00     2.35
 2005     1             0           0         124               0           0         107.988       0.00     2.35
 2006     1             0           0          87               0           0          76.749       0.00     2.35
 2007     1             0           0          65               0           0          56.551       0.00     2.36
 2008     1             0           0          69               0           0          60.346       0.00     2.36
 2009     1             0           0          62               0           0          54.466       0.00     2.36
 2010     1             0           0          57               0           0          49.417       0.00     2.35
 2011     1             0           0          51               0           0          45.049       0.00     2.36
 2012     1             0           0          47               0           0          41.245       0.00     2.35
 2013     1             0           0          44               0           0          37.910       0.00     2.36
 2014     1             0           0          40               0           0          34.969       0.00     2.36
 2015     1             0           0          37               0           0          32.363       0.00     2.35
 2016     1             0           0          34               0           0          30.042       0.00     2.35

 SUB-TOTAL              0           0       1,292               0           0       1,130.419       0.00     2.36
 REMAINDER              0           0         112               0           0          97.905       0.00     2.35
 TOTAL                  0           0       1,404               0           0       1,228.324       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0       1,404





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                
 2002                0           0       224,704            0       224,704           0       6,741       217,963
 2003                0           0       586,019            0       586,019           0      17,581       568,438
 2004                0           0       374,604            0       374,604           0      11,238       363,366
 2005                0           0       254,312            0       254,312           0       7,629       246,683
 2006                0           0       180,743            0       180,743           0       5,422       175,321
 2007                0           0       133,178            0       133,178           0       3,996       129,182
 2008                0           0       142,116            0       142,116           0       4,263       137,853
 2009                0           0       128,267            0       128,267           0       3,848       124,419
 2010                0           0       116,377            0       116,377           0       3,492       112,885
 2011                0           0       106,092            0       106,092           0       3,182       102,910
 2012                0           0        97,131            0        97,131           0       2,914        94,217
 2013                0           0        89,277            0        89,277           0       2,679        86,598
 2014                0           0        82,352            0        82,352           0       2,470        79,882
 2015                0           0        76,216            0        76,216           0       2,287        73,929
 2016                0           0        70,750            0        70,750           0       2,122        68,628

 SUB-TOT             0           0     2,662,138            0     2,662,138           0      79,864     2,582,274
 REMAIN              0           0       230,567            0       230,567           0       6,917       223,650
 TOTAL               0           0     2,892,705            0     2,892,705           0      86,781     2,805,924






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002          1,500           0     250,000           0       251,500        -33,537       -33,537       -32,407
 2003          6,000           0           0           0         6,000        562,438       528,901       486,533
 2004          6,000           0           0           0         6,000        357,366       886,267       279,682
 2005          6,000           0           0           0         6,000        240,683     1,126,950       170,440
 2006          7,200           0           0           0         7,200        168,121     1,295,071       107,740
 2007          7,200           0           0           0         7,200        121,982     1,417,053        70,745
 2008          7,200           0           0           0         7,200        130,653     1,547,706        68,481
 2009          7,200           0           0           0         7,200        117,219     1,664,925        55,614
 2010          7,200           0           0           0         7,200        105,685     1,770,610        45,387
 2011          7,200           0           0           0         7,200         95,710     1,866,320        37,206
 2012          7,200           0           0           0         7,200         87,017     1,953,337        30,620
 2013          7,200           0           0           0         7,200         79,398     2,032,735        25,289
 2014          7,200           0           0           0         7,200         72,682     2,105,417        20,956
 2015          7,200           0           0           0         7,200         66,729     2,172,146        17,415
 2016          7,200           0           0           0         7,200         61,428     2,233,574        14,511

 SUBTOT       98,700           0     250,000           0       348,700      2,233,574                   1,398,212
 REMAIN       27,676           0           0           0        27,676        195,974     2,429,548        36,900
 TOTAL       126,376           0     250,000           0       376,376      2,429,548                   1,435,112

   LIFE OF EVALUATION IS 18.84 YEARS.
   FINAL PRODUCTION RATE: 2.1 MMCF/MO






                                 TENGASCO, INC.                        TABLE 280
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     LOCATION #12   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        68,274
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        27,048
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -           -68
                                                                                           20.00% -       -18,375
                                                                                           25.00% -       -30,938





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          53               0           0          46.320       0.00     2.35
 2004     1             0           0          39               0           0          34.554       0.00     2.35
 2005     1             0           0          27               0           0          22.925       0.00     2.35
 2006     1             0           0          18               0           0          16.008       0.00     2.35
 2007     1             0           0          13               0           0          11.630       0.00     2.35
 2008     1             0           0          12               0           0          10.466       0.00     2.35
 2009     1             0           0          12               0           0          10.327       0.00     2.36
 2010     1             0           0          11               0           0           9.350       0.00     2.36
 2011     1             0           0           9               0           0           8.507       0.00     2.35
 2012     1             0           0           9               0           0           7.775       0.00     2.36
 2013     1             0           0           8               0           0           7.135       0.00     2.35
 2014     1             0           0           8               0           0           6.572       0.00     2.35
 2015     1             0           0           7               0           0           6.074       0.00     2.36
 2016     1             0           0           6               0           0           5.631       0.00     2.35

 SUB-TOTAL              0           0         232               0           0         203.274       0.00     2.36
 REMAINDER              0           0          23               0           0          20.026       0.00     2.35
 TOTAL                  0           0         255               0           0         223.300       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       109,085            0       109,085           0       3,273       105,812
 2004                0           0        81,375            0        81,375           0       2,441        78,934
 2005                0           0        53,989            0        53,989           0       1,619        52,370
 2006                0           0        37,698            0        37,698           0       1,131        36,567
 2007                0           0        27,389            0        27,389           0         822        26,567
 2008                0           0        24,647            0        24,647           0         740        23,907
 2009                0           0        24,320            0        24,320           0         729        23,591
 2010                0           0        22,018            0        22,018           0         661        21,357
 2011                0           0        20,034            0        20,034           0         601        19,433
 2012                0           0        18,310            0        18,310           0         549        17,761
 2013                0           0        16,802            0        16,802           0         504        16,298
 2014                0           0        15,477            0        15,477           0         464        15,013
 2015                0           0        14,305            0        14,305           0         429        13,876
 2016                0           0        13,262            0        13,262           0         398        12,864

 SUB-TOT             0           0       478,711            0       478,711           0      14,361       464,350
 REMAIN              0           0        47,160            0        47,160           0       1,415        45,745
 TOTAL               0           0       525,871            0       525,871           0      15,776       510,095






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          5,000           0     250,000           0       255,000       -149,188      -149,188      -135,127
 2004          6,000           0           0           0         6,000         72,934       -76,254        57,106
 2005          6,000           0           0           0         6,000         46,370       -29,884        32,853
 2006          7,200           0           0           0         7,200         29,367          -517        18,832
 2007          7,200           0           0           0         7,200         19,367        18,850        11,242
 2008          7,200           0           0           0         7,200         16,707        35,557         8,728
 2009          7,200           0           0           0         7,200         16,391        51,948         7,779
 2010          7,200           0           0           0         7,200         14,157        66,105         6,082
 2011          7,200           0           0           0         7,200         12,233        78,338         4,757
 2012          7,200           0           0           0         7,200         10,561        88,899         3,718
 2013          7,200           0           0           0         7,200          9,098        97,997         2,899
 2014          7,200           0           0           0         7,200          7,813       105,810         2,254
 2015          7,200           0           0           0         7,200          6,676       112,486         1,744
 2016          7,200           0           0           0         7,200          5,664       118,150         1,339

 SUBTOT       96,200           0     250,000           0       346,200        118,150                      24,206
 REMAIN       30,676           0           0           0        30,676         15,069       133,219         2,842
 TOTAL       126,876           0     250,000           0       376,876        133,219                      27,048

   LIFE OF EVALUATION IS 19.26 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO







                                 TENGASCO, INC.                        TABLE 281
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     LOCATION #13   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        68,274
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        27,048
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -           -68
                                                                                           20.00% -       -18,375
                                                                                           25.00% -       -30,938





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          53               0           0          46.320       0.00     2.35
 2004     1             0           0          39               0           0          34.554       0.00     2.35
 2005     1             0           0          27               0           0          22.925       0.00     2.35
 2006     1             0           0          18               0           0          16.008       0.00     2.35
 2007     1             0           0          13               0           0          11.630       0.00     2.35
 2008     1             0           0          12               0           0          10.466       0.00     2.35
 2009     1             0           0          12               0           0          10.327       0.00     2.36
 2010     1             0           0          11               0           0           9.350       0.00     2.36
 2011     1             0           0           9               0           0           8.507       0.00     2.35
 2012     1             0           0           9               0           0           7.775       0.00     2.36
 2013     1             0           0           8               0           0           7.135       0.00     2.35
 2014     1             0           0           8               0           0           6.572       0.00     2.35
 2015     1             0           0           7               0           0           6.074       0.00     2.36
 2016     1             0           0           6               0           0           5.631       0.00     2.35

 SUB-TOTAL              0           0         232               0           0         203.274       0.00     2.36
 REMAINDER              0           0          23               0           0          20.026       0.00     2.35
 TOTAL                  0           0         255               0           0         223.300       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       109,085            0       109,085           0       3,273       105,812
 2004                0           0        81,375            0        81,375           0       2,441        78,934
 2005                0           0        53,989            0        53,989           0       1,619        52,370
 2006                0           0        37,698            0        37,698           0       1,131        36,567
 2007                0           0        27,389            0        27,389           0         822        26,567
 2008                0           0        24,647            0        24,647           0         740        23,907
 2009                0           0        24,320            0        24,320           0         729        23,591
 2010                0           0        22,018            0        22,018           0         661        21,357
 2011                0           0        20,034            0        20,034           0         601        19,433
 2012                0           0        18,310            0        18,310           0         549        17,761
 2013                0           0        16,802            0        16,802           0         504        16,298
 2014                0           0        15,477            0        15,477           0         464        15,013
 2015                0           0        14,305            0        14,305           0         429        13,876
 2016                0           0        13,262            0        13,262           0         398        12,864

 SUB-TOT             0           0       478,711            0       478,711           0      14,361       464,350
 REMAIN              0           0        47,160            0        47,160           0       1,415        45,745
 TOTAL               0           0       525,871            0       525,871           0      15,776       510,095






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          5,000           0     250,000           0       255,000       -149,188      -149,188      -135,127
 2004          6,000           0           0           0         6,000         72,934       -76,254        57,106
 2005          6,000           0           0           0         6,000         46,370       -29,884        32,853
 2006          7,200           0           0           0         7,200         29,367          -517        18,832
 2007          7,200           0           0           0         7,200         19,367        18,850        11,242
 2008          7,200           0           0           0         7,200         16,707        35,557         8,728
 2009          7,200           0           0           0         7,200         16,391        51,948         7,779
 2010          7,200           0           0           0         7,200         14,157        66,105         6,082
 2011          7,200           0           0           0         7,200         12,233        78,338         4,757
 2012          7,200           0           0           0         7,200         10,561        88,899         3,718
 2013          7,200           0           0           0         7,200          9,098        97,997         2,899
 2014          7,200           0           0           0         7,200          7,813       105,810         2,254
 2015          7,200           0           0           0         7,200          6,676       112,486         1,744
 2016          7,200           0           0           0         7,200          5,664       118,150         1,339

 SUBTOT       96,200           0     250,000           0       346,200        118,150                      24,206
 REMAIN       30,676           0           0           0        30,676         15,069       133,219         2,842
 TOTAL       126,876           0     250,000           0       376,876        133,219                      27,048

   LIFE OF EVALUATION IS 19.26 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO







                                 TENGASCO, INC.                        TABLE 282
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROVED
     LOCATION #14   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO








                                 TENGASCO, INC.                        TABLE 283
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   15-T1S-R75E                                              PROVED
     LOCATION #15   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 284
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   15-T1S-R75E                                              PROVED
     LOCATION #16   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 285
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   16-T1S-R75E                                              PROVED
     LOCATION #17   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       254,476
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       170,914
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       115,924
                                                                                           20.00% -        78,233
                                                                                           25.00% -        51,563





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          53               0           0          46.201       0.00     2.35
 2004     1             0           0          69               0           0          60.270       0.00     2.36
 2005     1             0           0          44               0           0          39.177       0.00     2.35
 2006     1             0           0          31               0           0          26.933       0.00     2.35
 2007     1             0           0          22               0           0          19.331       0.00     2.35
 2008     1             0           0          18               0           0          15.413       0.00     2.35
 2009     1             0           0          18               0           0          16.031       0.00     2.35
 2010     1             0           0          17               0           0          14.489       0.00     2.36
 2011     1             0           0          15               0           0          13.162       0.00     2.35
 2012     1             0           0          14               0           0          12.012       0.00     2.35
 2013     1             0           0          12               0           0          11.008       0.00     2.35
 2014     1             0           0          12               0           0          10.128       0.00     2.35
 2015     1             0           0          10               0           0           9.350       0.00     2.36
 2016     1             0           0          10               0           0           8.660       0.00     2.35

 SUB-TOTAL              0           0         345               0           0         302.165       0.00     2.36
 REMAINDER              0           0          38               0           0          32.785       0.00     2.35
 TOTAL                  0           0         383               0           0         334.950       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         383





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0       108,804            0       108,804           0       3,264       105,540
 2004                0           0       141,936            0       141,936           0       4,258       137,678
 2005                0           0        92,262            0        92,262           0       2,768        89,494
 2006                0           0        63,429            0        63,429           0       1,903        61,526
 2007                0           0        45,523            0        45,523           0       1,366        44,157
 2008                0           0        36,297            0        36,297           0       1,089        35,208
 2009                0           0        37,753            0        37,753           0       1,132        36,621
 2010                0           0        34,121            0        34,121           0       1,024        33,097
 2011                0           0        30,996            0        30,996           0         930        30,066
 2012                0           0        28,287            0        28,287           0         848        27,439
 2013                0           0        25,925            0        25,925           0         778        25,147
 2014                0           0        23,851            0        23,851           0         716        23,135
 2015                0           0        22,019            0        22,019           0         660        21,359
 2016                0           0        20,395            0        20,395           0         612        19,783

 SUB-TOT             0           0       711,598            0       711,598           0      21,348       690,250
 REMAIN              0           0        77,209            0        77,209           0       2,316        74,893
 TOTAL               0           0       788,807            0       788,807           0      23,664       765,143






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          3,000           0     250,000           0       253,000       -147,460      -147,460      -128,062
 2004          6,000           0           0           0         6,000        131,678       -15,782       103,107
 2005          6,000           0           0           0         6,000         83,494        67,712        59,154
 2006          7,200           0           0           0         7,200         54,326       122,038        34,833
 2007          7,200           0           0           0         7,200         36,957       158,995        21,445
 2008          7,200           0           0           0         7,200         28,008       187,003        14,660
 2009          7,200           0           0           0         7,200         29,421       216,424        13,961
 2010          7,200           0           0           0         7,200         25,897       242,321        11,124
 2011          7,200           0           0           0         7,200         22,866       265,187         8,891
 2012          7,200           0           0           0         7,200         20,239       285,426         7,123
 2013          7,200           0           0           0         7,200         17,947       303,373         5,718
 2014          7,200           0           0           0         7,200         15,935       319,308         4,595
 2015          7,200           0           0           0         7,200         14,159       333,467         3,697
 2016          7,200           0           0           0         7,200         12,583       346,050         2,973

 SUBTOT       94,200           0     250,000           0       344,200        346,050                     163,219
 REMAIN       33,076           0           0           0        33,076         41,817       387,867         7,695
 TOTAL       127,276           0     250,000           0       377,276        387,867                     170,914

   LIFE OF EVALUATION IS 19.59 YEARS.
   FINAL PRODUCTION RATE: 0.6 MMCF/MO




                                 TENGASCO, INC.                        TABLE 286
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #19   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        66,823
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        25,900
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -          -280
                                                                                           20.00% -       -17,375
                                                                                           25.00% -       -28,632





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          35               0           0          30.801       0.00     2.35
 2004     1             0           0          46               0           0          40.180       0.00     2.35
 2005     1             0           0          30               0           0          26.118       0.00     2.35
 2006     1             0           0          20               0           0          17.956       0.00     2.35
 2007     1             0           0          15               0           0          12.887       0.00     2.35
 2008     1             0           0          12               0           0          10.275       0.00     2.35
 2009     1             0           0          12               0           0          10.687       0.00     2.35
 2010     1             0           0          11               0           0           9.659       0.00     2.35
 2011     1             0           0          10               0           0           8.774       0.00     2.35
 2012     1             0           0           9               0           0           8.008       0.00     2.35
 2013     1             0           0           9               0           0           7.339       0.00     2.36
 2014     1             0           0           7               0           0           6.752       0.00     2.35
 2015     1             0           0           8               0           0           6.233       0.00     2.35
 2016     1             0           0           6               0           0           5.773       0.00     2.35

 SUB-TOTAL              0           0         230               0           0         201.442       0.00     2.35
 REMAINDER              0           0          25               0           0          21.857       0.00     2.35
 TOTAL                  0           0         255               0           0         223.299       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0        72,536            0        72,536           0       2,176        70,360
 2004                0           0        94,624            0        94,624           0       2,839        91,785
 2005                0           0        61,508            0        61,508           0       1,845        59,663
 2006                0           0        42,286            0        42,286           0       1,269        41,017
 2007                0           0        30,349            0        30,349           0         910        29,439
 2008                0           0        24,198            0        24,198           0         726        23,472
 2009                0           0        25,169            0        25,169           0         755        24,414
 2010                0           0        22,747            0        22,747           0         682        22,065
 2011                0           0        20,663            0        20,663           0         620        20,043
 2012                0           0        18,859            0        18,859           0         566        18,293
 2013                0           0        17,283            0        17,283           0         519        16,764
 2014                0           0        15,901            0        15,901           0         477        15,424
 2015                0           0        14,679            0        14,679           0         440        14,239
 2016                0           0        13,597            0        13,597           0         408        13,189

 SUB-TOT             0           0       474,399            0       474,399           0      14,232       460,167
 REMAIN              0           0        51,472            0        51,472           0       1,544        49,928
 TOTAL               0           0       525,871            0       525,871           0      15,776       510,095






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          3,000           0     250,000           0       253,000       -182,640      -182,640      -157,688
 2004          6,000           0           0           0         6,000         85,785       -96,855        67,178
 2005          6,000           0           0           0         6,000         53,663       -43,192        38,025
 2006          7,200           0           0           0         7,200         33,817        -9,375        21,687
 2007          7,200           0           0           0         7,200         22,239        12,864        12,909
 2008          7,200           0           0           0         7,200         16,272        29,136         8,517
 2009          7,200           0           0           0         7,200         17,214        46,350         8,169
 2010          7,200           0           0           0         7,200         14,865        61,215         6,387
 2011          7,200           0           0           0         7,200         12,843        74,058         4,994
 2012          7,200           0           0           0         7,200         11,093        85,151         3,905
 2013          7,200           0           0           0         7,200          9,564        94,715         3,048
 2014          7,200           0           0           0         7,200          8,224       102,939         2,372
 2015          7,200           0           0           0         7,200          7,039       109,978         1,839
 2016          7,200           0           0           0         7,200          5,989       115,967         1,415

 SUBTOT       94,200           0     250,000           0       344,200        115,967                      22,757
 REMAIN       33,076           0           0           0        33,076         16,852       132,819         3,143
 TOTAL       127,276           0     250,000           0       377,276        132,819                      25,900

   LIFE OF EVALUATION IS 19.59 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO








                                 TENGASCO, INC.                        TABLE 287
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #20   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        66,823
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        25,900
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -          -280
                                                                                           20.00% -       -17,375
                                                                                           25.00% -       -28,632





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003     1             0           0          35               0           0          30.801       0.00     2.35
 2004     1             0           0          46               0           0          40.180       0.00     2.35
 2005     1             0           0          30               0           0          26.118       0.00     2.35
 2006     1             0           0          20               0           0          17.956       0.00     2.35
 2007     1             0           0          15               0           0          12.887       0.00     2.35
 2008     1             0           0          12               0           0          10.275       0.00     2.35
 2009     1             0           0          12               0           0          10.687       0.00     2.35
 2010     1             0           0          11               0           0           9.659       0.00     2.35
 2011     1             0           0          10               0           0           8.774       0.00     2.35
 2012     1             0           0           9               0           0           8.008       0.00     2.35
 2013     1             0           0           9               0           0           7.339       0.00     2.36
 2014     1             0           0           7               0           0           6.752       0.00     2.35
 2015     1             0           0           8               0           0           6.233       0.00     2.35
 2016     1             0           0           6               0           0           5.773       0.00     2.35

 SUB-TOTAL              0           0         230               0           0         201.442       0.00     2.35
 REMAINDER              0           0          25               0           0          21.857       0.00     2.35
 TOTAL                  0           0         255               0           0         223.299       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0        72,536            0        72,536           0       2,176        70,360
 2004                0           0        94,624            0        94,624           0       2,839        91,785
 2005                0           0        61,508            0        61,508           0       1,845        59,663
 2006                0           0        42,286            0        42,286           0       1,269        41,017
 2007                0           0        30,349            0        30,349           0         910        29,439
 2008                0           0        24,198            0        24,198           0         726        23,472
 2009                0           0        25,169            0        25,169           0         755        24,414
 2010                0           0        22,747            0        22,747           0         682        22,065
 2011                0           0        20,663            0        20,663           0         620        20,043
 2012                0           0        18,859            0        18,859           0         566        18,293
 2013                0           0        17,283            0        17,283           0         519        16,764
 2014                0           0        15,901            0        15,901           0         477        15,424
 2015                0           0        14,679            0        14,679           0         440        14,239
 2016                0           0        13,597            0        13,597           0         408        13,189

 SUB-TOT             0           0       474,399            0       474,399           0      14,232       460,167
 REMAIN              0           0        51,472            0        51,472           0       1,544        49,928
 TOTAL               0           0       525,871            0       525,871           0      15,776       510,095






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003          3,000           0     250,000           0       253,000       -182,640      -182,640      -157,688
 2004          6,000           0           0           0         6,000         85,785       -96,855        67,178
 2005          6,000           0           0           0         6,000         53,663       -43,192        38,025
 2006          7,200           0           0           0         7,200         33,817        -9,375        21,687
 2007          7,200           0           0           0         7,200         22,239        12,864        12,909
 2008          7,200           0           0           0         7,200         16,272        29,136         8,517
 2009          7,200           0           0           0         7,200         17,214        46,350         8,169
 2010          7,200           0           0           0         7,200         14,865        61,215         6,387
 2011          7,200           0           0           0         7,200         12,843        74,058         4,994
 2012          7,200           0           0           0         7,200         11,093        85,151         3,905
 2013          7,200           0           0           0         7,200          9,564        94,715         3,048
 2014          7,200           0           0           0         7,200          8,224       102,939         2,372
 2015          7,200           0           0           0         7,200          7,039       109,978         1,839
 2016          7,200           0           0           0         7,200          5,989       115,967         1,415

 SUBTOT       94,200           0     250,000           0       344,200        115,967                      22,757
 REMAIN       33,076           0           0           0        33,076         16,852       132,819         3,143
 TOTAL       127,276           0     250,000           0       377,276        132,819                      25,900

   LIFE OF EVALUATION IS 19.59 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO







                                 TENGASCO, INC.                        TABLE 288
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #24   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 289
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #25   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO








                                 TENGASCO, INC.                        TABLE 290
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #26   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 291
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #27   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 292
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #29   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0






                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 293
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION #32   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 294
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION #33   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       299,988
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       200,146
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       136,117
                                                                                           20.00% -        93,347
                                                                                           25.00% -        63,858





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          87               0           0          76.432       0.00     2.35
 2005     1             0           0          66               0           0          57.017       0.00     2.35
 2006     1             0           0          43               0           0          37.829       0.00     2.36
 2007     1             0           0          30               0           0          26.414       0.00     2.36
 2008     1             0           0          22               0           0          19.191       0.00     2.36
 2009     1             0           0          20               0           0          17.270       0.00     2.35
 2010     1             0           0          19               0           0          17.040       0.00     2.35
 2011     1             0           0          18               0           0          15.428       0.00     2.35
 2012     1             0           0          16               0           0          14.037       0.00     2.35
 2013     1             0           0          14               0           0          12.829       0.00     2.35
 2014     1             0           0          14               0           0          11.773       0.00     2.36
 2015     1             0           0          12               0           0          10.844       0.00     2.35
 2016     1             0           0          12               0           0          10.023       0.00     2.35

 SUB-TOTAL              0           0         373               0           0         326.127       0.00     2.36
 REMAINDER              0           0          48               0           0          42.336       0.00     2.35
 TOTAL                  0           0         421               0           0         368.463       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         421





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0       179,998            0       179,998           0       5,400       174,598
 2005                0           0       134,275            0       134,275           0       4,028       130,247
 2006                0           0        89,087            0        89,087           0       2,673        86,414
 2007                0           0        62,205            0        62,205           0       1,866        60,339
 2008                0           0        45,194            0        45,194           0       1,356        43,838
 2009                0           0        40,670            0        40,670           0       1,220        39,450
 2010                0           0        40,129            0        40,129           0       1,204        38,925
 2011                0           0        36,332            0        36,332           0       1,090        35,242
 2012                0           0        33,057            0        33,057           0         991        32,066
 2013                0           0        30,213            0        30,213           0         907        29,306
 2014                0           0        27,725            0        27,725           0         832        26,893
 2015                0           0        25,538            0        25,538           0         766        24,772
 2016                0           0        23,604            0        23,604           0         708        22,896

 SUB-TOT             0           0       768,027            0       768,027           0      23,041       744,986
 REMAIN              0           0        99,702            0        99,702           0       2,991        96,711
 TOTAL               0           0       867,729            0       867,729           0      26,032       841,697






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                     
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          5,000           0     250,000           0       255,000        -80,402       -80,402       -68,886
 2005          6,000           0           0           0         6,000        124,247        43,845        88,050
 2006          7,200           0           0           0         7,200         79,214       123,059        50,798
 2007          7,200           0           0           0         7,200         53,139       176,198        30,838
 2008          7,200           0           0           0         7,200         36,638       212,836        19,243
 2009          7,200           0           0           0         7,200         32,250       245,086        15,255
 2010          7,200           0           0           0         7,200         31,725       276,811        13,627
 2011          7,200           0           0           0         7,200         28,042       304,853        10,903
 2012          7,200           0           0           0         7,200         24,866       329,719         8,752
 2013          7,200           0           0           0         7,200         22,106       351,825         7,043
 2014          7,200           0           0           0         7,200         19,693       371,518         5,679
 2015          7,200           0           0           0         7,200         17,572       389,090         4,587
 2016          7,200           0           0           0         7,200         15,696       404,786         3,709

 SUBTOT       90,200           0     250,000           0       340,200        404,786                     189,598
 REMAIN       37,876           0           0           0        37,876         58,835       463,621        10,548
 TOTAL       128,076           0     250,000           0       378,076        463,621                     200,146

   LIFE OF EVALUATION IS 20.26 YEARS.
   FINAL PRODUCTION RATE: 0.6 MMCF/MO






                                 TENGASCO, INC.                        TABLE 295
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION #34   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       245,506
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       159,415
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       104,538
                                                                                           20.00% -        68,204
                                                                                           25.00% -        43,448





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          79               0           0          69.481       0.00     2.35
 2005     1             0           0          60               0           0          51.831       0.00     2.36
 2006     1             0           0          39               0           0          34.388       0.00     2.36
 2007     1             0           0          27               0           0          24.011       0.00     2.35
 2008     1             0           0          20               0           0          17.445       0.00     2.35
 2009     1             0           0          18               0           0          15.699       0.00     2.36
 2010     1             0           0          18               0           0          15.490       0.00     2.35
 2011     1             0           0          16               0           0          14.024       0.00     2.36
 2012     1             0           0          15               0           0          12.760       0.00     2.35
 2013     1             0           0          13               0           0          11.662       0.00     2.36
 2014     1             0           0          12               0           0          10.702       0.00     2.35
 2015     1             0           0          11               0           0           9.858       0.00     2.35
 2016     1             0           0          11               0           0           9.111       0.00     2.35

 SUB-TOTAL              0           0         339               0           0         296.462       0.00     2.35
 REMAINDER              0           0          44               0           0          38.486       0.00     2.35
 TOTAL                  0           0         383               0           0         334.948       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         383





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0       163,627            0       163,627           0       4,909       158,718
 2005                0           0       122,062            0       122,062           0       3,662       118,400
 2006                0           0        80,985            0        80,985           0       2,429        78,556
 2007                0           0        56,547            0        56,547           0       1,697        54,850
 2008                0           0        41,083            0        41,083           0       1,232        39,851
 2009                0           0        36,971            0        36,971           0       1,109        35,862
 2010                0           0        36,479            0        36,479           0       1,095        35,384
 2011                0           0        33,028            0        33,028           0         990        32,038
 2012                0           0        30,050            0        30,050           0         902        29,148
 2013                0           0        27,465            0        27,465           0         824        26,641
 2014                0           0        25,204            0        25,204           0         756        24,448
 2015                0           0        23,215            0        23,215           0         696        22,519
 2016                0           0        21,457            0        21,457           0         644        20,813

 SUB-TOT             0           0       698,173            0       698,173           0      20,945       677,228
 REMAIN              0           0        90,634            0        90,634           0       2,719        87,915
 TOTAL               0           0       788,807            0       788,807           0      23,664       765,143






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          5,000           0     250,000           0       255,000        -96,282       -96,282       -81,221
 2005          6,000           0           0           0         6,000        112,400        16,118        79,656
 2006          7,200           0           0           0         7,200         71,356        87,474        45,759
 2007          7,200           0           0           0         7,200         47,650       135,124        27,654
 2008          7,200           0           0           0         7,200         32,651       167,775        17,150
 2009          7,200           0           0           0         7,200         28,662       196,437        13,557
 2010          7,200           0           0           0         7,200         28,184       224,621        12,107
 2011          7,200           0           0           0         7,200         24,838       249,459         9,658
 2012          7,200           0           0           0         7,200         21,948       271,407         7,724
 2013          7,200           0           0           0         7,200         19,441       290,848         6,194
 2014          7,200           0           0           0         7,200         17,248       308,096         4,974
 2015          7,200           0           0           0         7,200         15,319       323,415         4,000
 2016          7,200           0           0           0         7,200         13,613       337,028         3,216

 SUBTOT       90,200           0     250,000           0       340,200        337,028                     150,428
 REMAIN       37,876           0           0           0        37,876         50,039       387,067         8,987
 TOTAL       128,076           0     250,000           0       378,076        387,067                     159,415

   LIFE OF EVALUATION IS 20.26 YEARS.
   FINAL PRODUCTION RATE: 0.6 MMCF/MO







                                 TENGASCO, INC.                        TABLE 296
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION #35   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       241,132
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       153,946
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        99,255
                                                                                           20.00% -        63,665
                                                                                           25.00% -        39,865





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          53               0           0          46.201       0.00     2.35
 2005     1             0           0          69               0           0          60.270       0.00     2.36
 2006     1             0           0          44               0           0          39.177       0.00     2.35
 2007     1             0           0          31               0           0          26.933       0.00     2.35
 2008     1             0           0          22               0           0          19.331       0.00     2.35
 2009     1             0           0          18               0           0          15.413       0.00     2.35
 2010     1             0           0          18               0           0          16.031       0.00     2.35
 2011     1             0           0          17               0           0          14.489       0.00     2.36
 2012     1             0           0          15               0           0          13.162       0.00     2.35
 2013     1             0           0          14               0           0          12.012       0.00     2.35
 2014     1             0           0          12               0           0          11.008       0.00     2.35
 2015     1             0           0          12               0           0          10.128       0.00     2.35
 2016     1             0           0          10               0           0           9.350       0.00     2.36

 SUB-TOTAL              0           0         335               0           0         293.505       0.00     2.35
 REMAINDER              0           0          48               0           0          41.445       0.00     2.35
 TOTAL                  0           0         383               0           0         334.950       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         383





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0       108,804            0       108,804           0       3,264       105,540
 2005                0           0       141,936            0       141,936           0       4,258       137,678
 2006                0           0        92,262            0        92,262           0       2,768        89,494
 2007                0           0        63,429            0        63,429           0       1,903        61,526
 2008                0           0        45,523            0        45,523           0       1,366        44,157
 2009                0           0        36,297            0        36,297           0       1,089        35,208
 2010                0           0        37,753            0        37,753           0       1,132        36,621
 2011                0           0        34,121            0        34,121           0       1,024        33,097
 2012                0           0        30,996            0        30,996           0         930        30,066
 2013                0           0        28,287            0        28,287           0         848        27,439
 2014                0           0        25,925            0        25,925           0         778        25,147
 2015                0           0        23,851            0        23,851           0         716        23,135
 2016                0           0        22,019            0        22,019           0         660        21,359

 SUB-TOT             0           0       691,203            0       691,203           0      20,736       670,467
 REMAIN              0           0        97,604            0        97,604           0       2,928        94,676
 TOTAL               0           0       788,807            0       788,807           0      23,664       765,143







                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          3,000           0     250,000           0       253,000       -147,460      -147,460      -115,923
 2005          6,000           0           0           0         6,000        131,678       -15,782        93,334
 2006          7,200           0           0           0         7,200         82,294        66,512        52,780
 2007          7,200           0           0           0         7,200         54,326       120,838        31,530
 2008          7,200           0           0           0         7,200         36,957       157,795        19,413
 2009          7,200           0           0           0         7,200         28,008       185,803        13,270
 2010          7,200           0           0           0         7,200         29,421       215,224        12,638
 2011          7,200           0           0           0         7,200         25,897       241,121        10,070
 2012          7,200           0           0           0         7,200         22,866       263,987         8,048
 2013          7,200           0           0           0         7,200         20,239       284,226         6,448
 2014          7,200           0           0           0         7,200         17,947       302,173         5,176
 2015          7,200           0           0           0         7,200         15,935       318,108         4,160
 2016          7,200           0           0           0         7,200         14,159       332,267         3,346

 SUBTOT       88,200           0     250,000           0       338,200        332,267                     144,290
 REMAIN       40,276           0           0           0        40,276         54,400       386,667         9,656
 TOTAL       128,476           0     250,000           0       378,476        386,667                     153,946

   LIFE OF EVALUATION IS 20.59 YEARS.
   FINAL PRODUCTION RATE: 0.6 MMCF/MO








                                 TENGASCO, INC.                        TABLE 297
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROVED
     LOCATION #36   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       419,791
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       285,317
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -       199,444
                                                                                           20.00% -       142,133
                                                                                           25.00% -       102,531





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          70               0           0          61.614       0.00     2.35
 2005     1             0           0          92               0           0          80.376       0.00     2.35
 2006     1             0           0          60               0           0          52.247       0.00     2.36
 2007     1             0           0          41               0           0          35.918       0.00     2.36
 2008     1             0           0          29               0           0          25.779       0.00     2.35
 2009     1             0           0          24               0           0          20.554       0.00     2.35
 2010     1             0           0          24               0           0          21.379       0.00     2.35
 2011     1             0           0          23               0           0          19.322       0.00     2.35
 2012     1             0           0          20               0           0          17.552       0.00     2.35
 2013     1             0           0          18               0           0          16.019       0.00     2.35
 2014     1             0           0          17               0           0          14.681       0.00     2.36
 2015     1             0           0          15               0           0          13.506       0.00     2.35
 2016     1             0           0          14               0           0          12.469       0.00     2.36

 SUB-TOTAL              0           0         447               0           0         391.416       0.00     2.35
 REMAINDER              0           0          63               0           0          55.271       0.00     2.36
 TOTAL                  0           0         510               0           0         446.687       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         510





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0       145,100            0       145,100           0       4,353       140,747
 2005                0           0       189,285            0       189,285           0       5,679       183,606
 2006                0           0       123,041            0       123,041           0       3,691       119,350
 2007                0           0        84,588            0        84,588           0       2,537        82,051
 2008                0           0        60,710            0        60,710           0       1,822        58,888
 2009                0           0        48,406            0        48,406           0       1,452        46,954
 2010                0           0        50,346            0        50,346           0       1,510        48,836
 2011                0           0        45,503            0        45,503           0       1,365        44,138
 2012                0           0        41,336            0        41,336           0       1,240        40,096
 2013                0           0        37,725            0        37,725           0       1,132        36,593
 2014                0           0        34,573            0        34,573           0       1,037        33,536
 2015                0           0        31,807            0        31,807           0         955        30,852
 2016                0           0        29,365            0        29,365           0         881        28,484

 SUB-TOT             0           0       921,785            0       921,785           0      27,654       894,131
 REMAIN              0           0       130,164            0       130,164           0       3,904       126,260
 TOTAL               0           0     1,051,949            0     1,051,949           0      31,558     1,020,391






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          3,000           0     250,000           0       253,000       -112,253      -112,253       -89,085
 2005          6,000           0           0           0         6,000        177,606        65,353       125,883
 2006          7,200           0           0           0         7,200        112,150       177,503        71,923
 2007          7,200           0           0           0         7,200         74,851       252,354        43,438
 2008          7,200           0           0           0         7,200         51,688       304,042        27,147
 2009          7,200           0           0           0         7,200         39,754       343,796        18,836
 2010          7,200           0           0           0         7,200         41,636       385,432        17,884
 2011          7,200           0           0           0         7,200         36,938       422,370        14,361
 2012          7,200           0           0           0         7,200         32,896       455,266        11,578
 2013          7,200           0           0           0         7,200         29,393       484,659         9,363
 2014          7,200           0           0           0         7,200         26,336       510,995         7,595
 2015          7,200           0           0           0         7,200         23,652       534,647         6,174
 2016          7,200           0           0           0         7,200         21,284       555,931         5,029

 SUBTOT       88,200           0     250,000           0       338,200        555,931                     270,126
 REMAIN       40,276           0           0           0        40,276         85,984       641,915        15,191
 TOTAL       128,476           0     250,000           0       378,476        641,915                     285,317

   LIFE OF EVALUATION IS 20.59 YEARS.
   FINAL PRODUCTION RATE: 0.8 MMCF/MO





                                 TENGASCO, INC.                        TABLE 298
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROVED
     LOCATION #38   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       151,872
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        88,312
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        49,200
                                                                                           20.00% -        24,462
                                                                                           25.00% -         8,557





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          44               0           0          38.501       0.00     2.35
 2005     1             0           0          57               0           0          50.225       0.00     2.35
 2006     1             0           0          38               0           0          32.648       0.00     2.35
 2007     1             0           0          25               0           0          22.445       0.00     2.35
 2008     1             0           0          19               0           0          16.109       0.00     2.35
 2009     1             0           0          14               0           0          12.844       0.00     2.35
 2010     1             0           0          16               0           0          13.359       0.00     2.35
 2011     1             0           0          14               0           0          12.074       0.00     2.35
 2012     1             0           0          12               0           0          10.968       0.00     2.35
 2013     1             0           0          11               0           0          10.010       0.00     2.35
 2014     1             0           0          11               0           0           9.174       0.00     2.35
 2015     1             0           0          10               0           0           8.440       0.00     2.36
 2016     1             0           0           9               0           0           7.792       0.00     2.35

 SUB-TOTAL              0           0         280               0           0         244.589       0.00     2.35
 REMAINDER              0           0          39               0           0          34.538       0.00     2.36
 TOTAL                  0           0         319               0           0         279.127       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         319





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0        90,670            0        90,670           0       2,720        87,950
 2005                0           0       118,280            0       118,280           0       3,548       114,732
 2006                0           0        76,885            0        76,885           0       2,307        74,578
 2007                0           0        52,857            0        52,857           0       1,586        51,271
 2008                0           0        37,937            0        37,937           0       1,138        36,799
 2009                0           0        30,247            0        30,247           0         907        29,340
 2010                0           0        31,461            0        31,461           0         944        30,517
 2011                0           0        28,434            0        28,434           0         853        27,581
 2012                0           0        25,830            0        25,830           0         775        25,055
 2013                0           0        23,573            0        23,573           0         707        22,866
 2014                0           0        21,604            0        21,604           0         648        20,956
 2015                0           0        19,875            0        19,875           0         597        19,278
 2016                0           0        18,350            0        18,350           0         550        17,800

 SUB-TOT             0           0       576,003            0       576,003           0      17,280       558,723
 REMAIN              0           0        81,336            0        81,336           0       2,440        78,896
 TOTAL               0           0       657,339            0       657,339           0      19,720       637,619






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          3,000           0     250,000           0       253,000       -165,050      -165,050      -129,332
 2005          6,000           0           0           0         6,000        108,732       -56,318        77,072
 2006          7,200           0           0           0         7,200         67,378        11,060        43,217
 2007          7,200           0           0           0         7,200         44,071        55,131        25,581
 2008          7,200           0           0           0         7,200         29,599        84,730        15,549
 2009          7,200           0           0           0         7,200         22,140       106,870        10,490
 2010          7,200           0           0           0         7,200         23,317       130,187        10,016
 2011          7,200           0           0           0         7,200         20,381       150,568         7,926
 2012          7,200           0           0           0         7,200         17,855       168,423         6,284
 2013          7,200           0           0           0         7,200         15,666       184,089         4,992
 2014          7,200           0           0           0         7,200         13,756       197,845         3,967
 2015          7,200           0           0           0         7,200         12,078       209,923         3,154
 2016          7,200           0           0           0         7,200         10,600       220,523         2,505

 SUBTOT       88,200           0     250,000           0       338,200        220,523                      81,421
 REMAIN       40,276           0           0           0        40,276         38,620       259,143         6,891
 TOTAL       128,476           0     250,000           0       378,476        259,143                      88,312

   LIFE OF EVALUATION IS 20.59 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 299
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROVED
     LOCATION #39   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       205,456
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       127,713
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        79,249
                                                                                           20.00% -        47,996
                                                                                           25.00% -        27,352





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          49               0           0          43.124       0.00     2.35
 2005     1             0           0          65               0           0          56.255       0.00     2.35
 2006     1             0           0          41               0           0          36.568       0.00     2.36
 2007     1             0           0          29               0           0          25.139       0.00     2.35
 2008     1             0           0          21               0           0          18.043       0.00     2.35
 2009     1             0           0          16               0           0          14.386       0.00     2.35
 2010     1             0           0          17               0           0          14.963       0.00     2.35
 2011     1             0           0          16               0           0          13.523       0.00     2.35
 2012     1             0           0          14               0           0          12.285       0.00     2.35
 2013     1             0           0          13               0           0          11.212       0.00     2.36
 2014     1             0           0          11               0           0          10.275       0.00     2.35
 2015     1             0           0          11               0           0           9.453       0.00     2.36
 2016     1             0           0          10               0           0           8.727       0.00     2.35

 SUB-TOTAL              0           0         313               0           0         273.953       0.00     2.35
 REMAINDER              0           0          44               0           0          38.684       0.00     2.35
 TOTAL                  0           0         357               0           0         312.637       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         357





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                   
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0       101,556            0       101,556           0       3,047        98,509
 2005                0           0       132,481            0       132,481           0       3,974       128,507
 2006                0           0        86,116            0        86,116           0       2,584        83,532
 2007                0           0        59,204            0        59,204           0       1,776        57,428
 2008                0           0        42,491            0        42,491           0       1,274        41,217
 2009                0           0        33,879            0        33,879           0       1,017        32,862
 2010                0           0        35,238            0        35,238           0       1,057        34,181
 2011                0           0        31,847            0        31,847           0         955        30,892
 2012                0           0        28,931            0        28,931           0         868        28,063
 2013                0           0        26,404            0        26,404           0         792        25,612
 2014                0           0        24,198            0        24,198           0         726        23,472
 2015                0           0        22,262            0        22,262           0         668        21,594
 2016                0           0        20,552            0        20,552           0         617        19,935

 SUB-TOT             0           0       645,159            0       645,159           0      19,355       625,804
 REMAIN              0           0        91,102            0        91,102           0       2,733        88,369
 TOTAL               0           0       736,261            0       736,261           0      22,088       714,173






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          3,000           0     250,000           0       253,000       -154,491      -154,491      -121,283
 2005          6,000           0           0           0         6,000        122,507       -31,984        86,835
 2006          7,200           0           0           0         7,200         76,332        44,348        48,957
 2007          7,200           0           0           0         7,200         50,228        94,576        29,153
 2008          7,200           0           0           0         7,200         34,017       128,593        17,869
 2009          7,200           0           0           0         7,200         25,662       154,255        12,159
 2010          7,200           0           0           0         7,200         26,981       181,236        11,590
 2011          7,200           0           0           0         7,200         23,692       204,928         9,212
 2012          7,200           0           0           0         7,200         20,863       225,791         7,343
 2013          7,200           0           0           0         7,200         18,412       244,203         5,867
 2014          7,200           0           0           0         7,200         16,272       260,475         4,692
 2015          7,200           0           0           0         7,200         14,394       274,869         3,758
 2016          7,200           0           0           0         7,200         12,735       287,604         3,010

 SUBTOT       88,200           0     250,000           0       338,200        287,604                     119,162
 REMAIN       40,276           0           0           0        40,276         48,093       335,697         8,551
 TOTAL       128,476           0     250,000           0       378,476        335,697                     127,713

   LIFE OF EVALUATION IS 20.59 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO








                                 TENGASCO, INC.                        TABLE 300
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROVED
     LOCATION #40   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       202,664
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       124,374
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        76,187
                                                                                           20.00% -        45,542
                                                                                           25.00% -        25,603





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          28               0           0          24.286       0.00     2.35
 2005     1             0           0          72               0           0          63.336       0.00     2.35
 2006     1             0           0          46               0           0          40.486       0.00     2.35
 2007     1             0           0          32               0           0          27.485       0.00     2.35
 2008     1             0           0          22               0           0          19.534       0.00     2.35
 2009     1             0           0          17               0           0          14.394       0.00     2.35
 2010     1             0           0          17               0           0          15.360       0.00     2.35
 2011     1             0           0          16               0           0          13.863       0.00     2.36
 2012     1             0           0          14               0           0          12.578       0.00     2.35
 2013     1             0           0          13               0           0          11.466       0.00     2.35
 2014     1             0           0          12               0           0          10.498       0.00     2.35
 2015     1             0           0          11               0           0           9.649       0.00     2.35
 2016     1             0           0          11               0           0           8.900       0.00     2.35

 SUB-TOTAL              0           0         311               0           0         271.835       0.00     2.35
 REMAINDER              0           0          46               0           0          40.803       0.00     2.35
 TOTAL                  0           0         357               0           0         312.638       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         357





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0        57,193            0        57,193           0       1,716        55,477
 2005                0           0       149,155            0       149,155           0       4,474       144,681
 2006                0           0        95,346            0        95,346           0       2,861        92,485
 2007                0           0        64,728            0        64,728           0       1,942        62,786
 2008                0           0        46,003            0        46,003           0       1,380        44,623
 2009                0           0        33,897            0        33,897           0       1,017        32,880
 2010                0           0        36,172            0        36,172           0       1,085        35,087
 2011                0           0        32,647            0        32,647           0         979        31,668
 2012                0           0        29,621            0        29,621           0         889        28,732
 2013                0           0        27,002            0        27,002           0         810        26,192
 2014                0           0        24,723            0        24,723           0         742        23,981
 2015                0           0        22,723            0        22,723           0         681        22,042
 2016                0           0        20,960            0        20,960           0         629        20,331

 SUB-TOT             0           0       640,170            0       640,170           0      19,205       620,965
 REMAIN              0           0        96,091            0        96,091           0       2,883        93,208
 TOTAL               0           0       736,261            0       736,261           0      22,088       714,173






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          1,500           0     250,000           0       251,500       -196,023      -196,023      -148,734
 2005          6,000           0           0           0         6,000        138,681       -57,342        98,313
 2006          7,200           0           0           0         7,200         85,285        27,943        54,705
 2007          7,200           0           0           0         7,200         55,586        83,529        32,265
 2008          7,200           0           0           0         7,200         37,423       120,952        19,659
 2009          7,200           0           0           0         7,200         25,680       146,632        12,210
 2010          7,200           0           0           0         7,200         27,887       174,519        11,979
 2011          7,200           0           0           0         7,200         24,468       198,987         9,515
 2012          7,200           0           0           0         7,200         21,532       220,519         7,578
 2013          7,200           0           0           0         7,200         18,992       239,511         6,051
 2014          7,200           0           0           0         7,200         16,781       256,292         4,840
 2015          7,200           0           0           0         7,200         14,842       271,134         3,875
 2016          7,200           0           0           0         7,200         13,131       284,265         3,103

 SUBTOT       86,700           0     250,000           0       336,700        284,265                     115,359
 REMAIN       42,076           0           0           0        42,076         51,132       335,397         9,015
 TOTAL       128,776           0     250,000           0       378,776        335,397                     124,374

   LIFE OF EVALUATION IS 20.84 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO






                                 TENGASCO, INC.                        TABLE 301
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROVED
     LOCATION #41   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 302
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROVED
     LOCATION #42   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       202,664
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       124,374
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        76,187
                                                                                           20.00% -        45,542
                                                                                           25.00% -        25,603





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          28               0           0          24.286       0.00     2.35
 2005     1             0           0          72               0           0          63.336       0.00     2.35
 2006     1             0           0          46               0           0          40.486       0.00     2.35
 2007     1             0           0          32               0           0          27.485       0.00     2.35
 2008     1             0           0          22               0           0          19.534       0.00     2.35
 2009     1             0           0          17               0           0          14.394       0.00     2.35
 2010     1             0           0          17               0           0          15.360       0.00     2.35
 2011     1             0           0          16               0           0          13.863       0.00     2.36
 2012     1             0           0          14               0           0          12.578       0.00     2.35
 2013     1             0           0          13               0           0          11.466       0.00     2.35
 2014     1             0           0          12               0           0          10.498       0.00     2.35
 2015     1             0           0          11               0           0           9.649       0.00     2.35
 2016     1             0           0          11               0           0           8.900       0.00     2.35

 SUB-TOTAL              0           0         311               0           0         271.835       0.00     2.35
 REMAINDER              0           0          46               0           0          40.803       0.00     2.35
 TOTAL                  0           0         357               0           0         312.638       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         357





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0        57,193            0        57,193           0       1,716        55,477
 2005                0           0       149,155            0       149,155           0       4,474       144,681
 2006                0           0        95,346            0        95,346           0       2,861        92,485
 2007                0           0        64,728            0        64,728           0       1,942        62,786
 2008                0           0        46,003            0        46,003           0       1,380        44,623
 2009                0           0        33,897            0        33,897           0       1,017        32,880
 2010                0           0        36,172            0        36,172           0       1,085        35,087
 2011                0           0        32,647            0        32,647           0         979        31,668
 2012                0           0        29,621            0        29,621           0         889        28,732
 2013                0           0        27,002            0        27,002           0         810        26,192
 2014                0           0        24,723            0        24,723           0         742        23,981
 2015                0           0        22,723            0        22,723           0         681        22,042
 2016                0           0        20,960            0        20,960           0         629        20,331

 SUB-TOT             0           0       640,170            0       640,170           0      19,205       620,965
 REMAIN              0           0        96,091            0        96,091           0       2,883        93,208
 TOTAL               0           0       736,261            0       736,261           0      22,088       714,173






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                  
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004          1,500           0     250,000           0       251,500       -196,023      -196,023      -148,734
 2005          6,000           0           0           0         6,000        138,681       -57,342        98,313
 2006          7,200           0           0           0         7,200         85,285        27,943        54,705
 2007          7,200           0           0           0         7,200         55,586        83,529        32,265
 2008          7,200           0           0           0         7,200         37,423       120,952        19,659
 2009          7,200           0           0           0         7,200         25,680       146,632        12,210
 2010          7,200           0           0           0         7,200         27,887       174,519        11,979
 2011          7,200           0           0           0         7,200         24,468       198,987         9,515
 2012          7,200           0           0           0         7,200         21,532       220,519         7,578
 2013          7,200           0           0           0         7,200         18,992       239,511         6,051
 2014          7,200           0           0           0         7,200         16,781       256,292         4,840
 2015          7,200           0           0           0         7,200         14,842       271,134         3,875
 2016          7,200           0           0           0         7,200         13,131       284,265         3,103

 SUBTOT       86,700           0     250,000           0       336,700        284,265                     115,359
 REMAIN       42,076           0           0           0        42,076         51,132       335,397         9,015
 TOTAL       128,776           0     250,000           0       378,776        335,397                     124,374

   LIFE OF EVALUATION IS 20.84 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO





                                 TENGASCO, INC.                        TABLE 303
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #43   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 304
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #44   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 305
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


              SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
   TENGASCO INC. - OPERATOR   4-T1S-R75E                                               PROVED
     LOCATION #45   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 306
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   3-T1S-R75E                                               PROVED
     LOCATION #46   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 307
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   3-T1S-R75E                                               PROVED
     LOCATION #47   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -             0
           UNECONOMIC AT CURRENT PRICES.                                                   20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 3.17 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO








                                 TENGASCO, INC.                        TABLE 308
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   8-T1S-R75E                                               PROVED
     LOCATION #48   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                                   
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -             0
           UNECONOMIC AT CURRENT PRICES.                                                   20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 309
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   8-T1S-R75E                                               PROVED
     LOCATION #49   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 310
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #50   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                       TABLE 311
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #51   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                       TABLE 312
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   7-T1S-R75E                                               PROVED
     LOCATION #53   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 313
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROBABLE
     LOCATION #54   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 314
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   10-T1S-R74E                                              PROBABLE
     LOCATION #55   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                       TABLE 315
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROBABLE
     LOCATION #56   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       176,205
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       126,573
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -        92,681
                                                                                           20.00% -        68,881
                                                                                           25.00% -        51,794





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006     1             0           0          40               0           0          34.668       0.00     2.36
 2007     1             0           0          29               0           0          25.861       0.00     2.36
 2008     1             0           0          20               0           0          17.158       0.00     2.36
 2009     1             0           0          13               0           0          11.981       0.00     2.36
 2010     1             0           0          10               0           0           8.704       0.00     2.35
 2011     1             0           0           9               0           0           7.833       0.00     2.35
 2012     1             0           0           9               0           0           7.729       0.00     2.35
 2013     1             0           0           8               0           0           6.998       0.00     2.35
 2014     1             0           0           7               0           0           6.367       0.00     2.35
 2015     1             0           0           7               0           0           5.819       0.00     2.35
 2016     1             0           0           6               0           0           5.340       0.00     2.35

 SUB-TOTAL              0           0         158               0           0         138.458       0.00     2.36
 REMAINDER              0           0          33               0           0          28.667       0.00     2.36
 TOTAL                  0           0         191               0           0         167.125       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         191





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0        81,642            0        81,642           0       2,449        79,193
 2007                0           0        60,904            0        60,904           0       1,827        59,077
 2008                0           0        40,408            0        40,408           0       1,213        39,195
 2009                0           0        28,214            0        28,214           0         846        27,368
 2010                0           0        20,499            0        20,499           0         615        19,884
 2011                0           0        18,447            0        18,447           0         553        17,894
 2012                0           0        18,201            0        18,201           0         546        17,655
 2013                0           0        16,479            0        16,479           0         495        15,984
 2014                0           0        14,994            0        14,994           0         450        14,544
 2015                0           0        13,704            0        13,704           0         411        13,293
 2016                0           0        12,576            0        12,576           0         377        12,199

 SUB-TOT             0           0       326,068            0       326,068           0       9,782       316,286
 REMAIN              0           0        67,511            0        67,511           0       2,025        65,486
 TOTAL               0           0       393,579            0       393,579           0      11,807       381,772






                             DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006          6,000           0           0           0         6,000         73,193        73,193        46,605
 2007          7,200           0           0           0         7,200         51,877       125,070        30,135
 2008          7,200           0           0           0         7,200         31,995       157,065        16,819
 2009          7,200           0           0           0         7,200         20,168       177,233         9,596
 2010          7,200           0           0           0         7,200         12,684       189,917         5,464
 2011          7,200           0           0           0         7,200         10,694       200,611         4,142
 2012          7,200           0           0           0         7,200         10,455       211,066         3,681
 2013          7,200           0           0           0         7,200          8,784       219,850         2,800
 2014          7,200           0           0           0         7,200          7,344       227,194         2,119
 2015          7,200           0           0           0         7,200          6,093       233,287         1,591
 2016          7,200           0           0           0         7,200          4,999       238,286         1,183

 SUBTOT       78,000           0           0           0        78,000        238,286                     124,135
 REMAIN       52,276           0           0           0        52,276         13,210       251,496         2,438
 TOTAL       130,276           0           0           0       130,276        251,496                     126,573

   LIFE OF EVALUATION IS 22.26 YEARS.
   FINAL PRODUCTION RATE: 0.3 MMCF/MO






                                 TENGASCO, INC.                        TABLE 316
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROBABLE
     LOCATION #57   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       187,509
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -       117,483
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        74,409
                                                                                           20.00% -        47,015
                                                                                           25.00% -        29,171





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005     1             0           0          66               0           0          57.719       0.00     2.35
 2006     1             0           0          49               0           0          43.057       0.00     2.35
 2007     1             0           0          33               0           0          28.567       0.00     2.35
 2008     1             0           0          23               0           0          19.947       0.00     2.35
 2009     1             0           0          16               0           0          14.492       0.00     2.36
 2010     1             0           0          15               0           0          13.041       0.00     2.35
 2011     1             0           0          15               0           0          12.868       0.00     2.35
 2012     1             0           0          13               0           0          11.650       0.00     2.36
 2013     1             0           0          12               0           0          10.600       0.00     2.36
 2014     1             0           0          11               0           0           9.688       0.00     2.35
 2015     1             0           0          10               0           0           8.891       0.00     2.35
 2016     1             0           0          10               0           0           8.189       0.00     2.35

 SUB-TOTAL              0           0         273               0           0         238.709       0.00     2.35
 REMAINDER              0           0          45               0           0          39.540       0.00     2.36
 TOTAL                  0           0         318               0           0         278.249       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         318





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0       135,928            0       135,928           0       4,078       131,850
 2006                0           0       101,400            0       101,400           0       3,042        98,358
 2007                0           0        67,275            0        67,275           0       2,018        65,257
 2008                0           0        46,975            0        46,975           0       1,409        45,566
 2009                0           0        34,129            0        34,129           0       1,024        33,105
 2010                0           0        30,713            0        30,713           0         922        29,791
 2011                0           0        30,304            0        30,304           0         909        29,395
 2012                0           0        27,436            0        27,436           0         823        26,613
 2013                0           0        24,964            0        24,964           0         749        24,215
 2014                0           0        22,816            0        22,816           0         684        22,132
 2015                0           0        20,937            0        20,937           0         628        20,309
 2016                0           0        19,286            0        19,286           0         579        18,707

 SUB-TOT             0           0       562,163            0       562,163           0      16,865       545,298
 REMAIN              0           0        93,116            0        93,116           0       2,793        90,323
 TOTAL               0           0       655,279            0       655,279           0      19,658       635,621






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005          5,000           0     200,000           0       205,000        -73,150       -73,150       -56,090
 2006          7,200           0           0           0         7,200         91,158        18,008        58,484
 2007          7,200           0           0           0         7,200         58,057        76,065        33,705
 2008          7,200           0           0           0         7,200         38,366       114,431        20,157
 2009          7,200           0           0           0         7,200         25,905       140,336        12,319
 2010          7,200           0           0           0         7,200         22,591       162,927         9,672
 2011          7,200           0           0           0         7,200         22,195       185,122         8,630
 2012          7,200           0           0           0         7,200         19,413       204,535         6,834
 2013          7,200           0           0           0         7,200         17,015       221,550         5,421
 2014          7,200           0           0           0         7,200         14,932       236,482         4,307
 2015          7,200           0           0           0         7,200         13,109       249,591         3,422
 2016          7,200           0           0           0         7,200         11,507       261,098         2,720

 SUBTOT       84,200           0     200,000           0       284,200        261,098                     109,581
 REMAIN       45,076           0           0           0        45,076         45,247       306,345         7,902
 TOTAL       129,276           0     200,000           0       329,276        306,345                     117,483

   LIFE OF EVALUATION IS 21.26 YEARS.
   FINAL PRODUCTION RATE: 0.5 MMCF/MO








                                 TENGASCO, INC.                        TABLE 317
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROBABLE
     LOCATION #58   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO








                                 TENGASCO, INC.                        TABLE 318
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROBABLE
     LOCATION #59   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -       102,252
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        56,835
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        29,657
                                                                                           20.00% -        13,099
                                                                                           25.00% -         2,957





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005     1             0           0          53               0           0          46.284       0.00     2.35
 2006     1             0           0          39               0           0          34.527       0.00     2.36
 2007     1             0           0          27               0           0          22.907       0.00     2.35
 2008     1             0           0          18               0           0          15.995       0.00     2.36
 2009     1             0           0          13               0           0          11.621       0.00     2.35
 2010     1             0           0          12               0           0          10.458       0.00     2.35
 2011     1             0           0          12               0           0          10.319       0.00     2.35
 2012     1             0           0          11               0           0           9.342       0.00     2.35
 2013     1             0           0           9               0           0           8.500       0.00     2.35
 2014     1             0           0           9               0           0           7.769       0.00     2.35
 2015     1             0           0           8               0           0           7.129       0.00     2.35
 2016     1             0           0           8               0           0           6.567       0.00     2.35

 SUB-TOTAL              0           0         219               0           0         191.418       0.00     2.35
 REMAINDER              0           0          36               0           0          31.706       0.00     2.35
 TOTAL                  0           0         255               0           0         223.124       0.00     2.35

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0       108,999            0       108,999           0       3,270       105,729
 2006                0           0        81,311            0        81,311           0       2,439        78,872
 2007                0           0        53,947            0        53,947           0       1,619        52,328
 2008                0           0        37,669            0        37,669           0       1,130        36,539
 2009                0           0        27,368            0        27,368           0         821        26,547
 2010                0           0        24,628            0        24,628           0         739        23,889
 2011                0           0        24,300            0        24,300           0         729        23,571
 2012                0           0        22,001            0        22,001           0         660        21,341
 2013                0           0        20,018            0        20,018           0         600        19,418
 2014                0           0        18,296            0        18,296           0         549        17,747
 2015                0           0        16,789            0        16,789           0         504        16,285
 2016                0           0        15,465            0        15,465           0         464        15,001

 SUB-TOT             0           0       450,791            0       450,791           0      13,524       437,267
 REMAIN              0           0        74,668            0        74,668           0       2,240        72,428
 TOTAL               0           0       525,459            0       525,459           0      15,764       509,695






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005          5,000           0     200,000           0       205,000        -99,271       -99,271       -74,457
 2006          7,200           0           0           0         7,200         71,672       -27,599        45,986
 2007          7,200           0           0           0         7,200         45,128        17,529        26,202
 2008          7,200           0           0           0         7,200         29,339        46,868        15,417
 2009          7,200           0           0           0         7,200         19,347        66,215         9,202
 2010          7,200           0           0           0         7,200         16,689        82,904         7,143
 2011          7,200           0           0           0         7,200         16,371        99,275         6,367
 2012          7,200           0           0           0         7,200         14,141       113,416         4,978
 2013          7,200           0           0           0         7,200         12,218       125,634         3,893
 2014          7,200           0           0           0         7,200         10,547       136,181         3,043
 2015          7,200           0           0           0         7,200          9,085       145,266         2,372
 2016          7,200           0           0           0         7,200          7,801       153,067         1,844

 SUBTOT       84,200           0     200,000           0       284,200        153,067                      51,990
 REMAIN       45,076           0           0           0        45,076         27,352       180,419         4,845
 TOTAL       129,276           0     200,000           0       329,276        180,419                      56,835

   LIFE OF EVALUATION IS 21.26 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO



                                 TENGASCO, INC.                        TABLE 319
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   9-T1S-R74E                                               PROBABLE
     LOCATION #60   (KNOX)                                                             UNDEVELOPED
                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                      0.875000                             2.35        5.00% -        96,479
 FINAL   -   1.000000                      0.875000                             2.35       10.00% -        50,814
 REMARKS - CAPITAL INCLUDED TO DRILL AND COMPLETE.                                         15.00% -        25,045
                                                                                           20.00% -        10,339
                                                                                           25.00% -         1,986




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                  
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006     1             0           0          53               0           0          46.284       0.00     2.35
 2007     1             0           0          39               0           0          34.527       0.00     2.36
 2008     1             0           0          27               0           0          22.907       0.00     2.35
 2009     1             0           0          18               0           0          15.995       0.00     2.36
 2010     1             0           0          13               0           0          11.621       0.00     2.35
 2011     1             0           0          12               0           0          10.458       0.00     2.35
 2012     1             0           0          12               0           0          10.319       0.00     2.35
 2013     1             0           0          11               0           0           9.342       0.00     2.35
 2014     1             0           0           9               0           0           8.500       0.00     2.35
 2015     1             0           0           9               0           0           7.769       0.00     2.35
 2016     1             0           0           8               0           0           7.129       0.00     2.35

 SUB-TOTAL              0           0         211               0           0         184.851       0.00     2.35
 REMAINDER              0           0          44               0           0          38.273       0.00     2.36
 TOTAL                  0           0         255               0           0         223.124       0.00     2.36

 CUMULATIVE             0           0           0
 ULTIMATE               0           0         255




                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                  
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0       108,999            0       108,999           0       3,270       105,729
 2007                0           0        81,311            0        81,311           0       2,439        78,872
 2008                0           0        53,947            0        53,947           0       1,619        52,328
 2009                0           0        37,669            0        37,669           0       1,130        36,539
 2010                0           0        27,368            0        27,368           0         821        26,547
 2011                0           0        24,628            0        24,628           0         739        23,889
 2012                0           0        24,300            0        24,300           0         729        23,571
 2013                0           0        22,001            0        22,001           0         660        21,341
 2014                0           0        20,018            0        20,018           0         600        19,418
 2015                0           0        18,296            0        18,296           0         549        17,747
 2016                0           0        16,789            0        16,789           0         504        16,285

 SUB-TOT             0           0       435,326            0       435,326           0      13,060       422,266
 REMAIN              0           0        90,133            0        90,133           0       2,704        87,429
 TOTAL               0           0       525,459            0       525,459           0      15,764       509,695




        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                   
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006          6,000           0     200,000           0       206,000       -100,271      -100,271       -68,033
 2007          7,200           0           0           0         7,200         71,672       -28,599        41,627
 2008          7,200           0           0           0         7,200         45,128        16,529        23,718
 2009          7,200           0           0           0         7,200         29,339        45,868        13,956
 2010          7,200           0           0           0         7,200         19,347        65,215         8,330
 2011          7,200           0           0           0         7,200         16,689        81,904         6,466
 2012          7,200           0           0           0         7,200         16,371        98,275         5,763
 2013          7,200           0           0           0         7,200         14,141       112,416         4,506
 2014          7,200           0           0           0         7,200         12,218       124,634         3,525
 2015          7,200           0           0           0         7,200         10,547       135,181         2,754
 2016          7,200           0           0           0         7,200          9,085       144,266         2,147

 SUBTOT       78,000           0     200,000           0       278,000        144,266                      44,759
 REMAIN       52,276           0           0           0        52,276         35,153       179,419         6,055
 TOTAL       130,276           0     200,000           0       330,276        179,419                      50,814

   LIFE OF EVALUATION IS 22.26 YEARS.
   FINAL PRODUCTION RATE: 0.4 MMCF/MO




                                 TENGASCO, INC.                        TABLE 320
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   13-T1S-R74E                                              PROBABLE
     LOCATION #61   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 321
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROBABLE
     LOCATION #62   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 322
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROBABLE
     LOCATION #63   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                      
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO



                                 TENGASCO, INC.                        TABLE 323
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROBABLE
     LOCATION #64   (KNOX)                                                             UNDEVELOPED

                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0




                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                        
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0



                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0



        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 324
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              PROBABLE
     LOCATION #65   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 325
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROBABLE
     LOCATION #66   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 326
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   11-T1S-R74E                                              PROBABLE
     LOCATION #67   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                       TABLE 327
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   8-T1S-R74E                                               POSSIBLE
     LOCATION #68   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 328
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   8-T1S-R74E                                               POSSIBLE
     LOCATION #69   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO







                                 TENGASCO, INC.                        TABLE 329
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   13-T1S-R74E                                              POSSIBLE
     LOCATION #70   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO





                                 TENGASCO, INC.                        TABLE 330
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   13-T1S-R74E                                              POSSIBLE
     LOCATION #71   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                                 TENGASCO, INC.                        TABLE 331
                      ESTIMATED FUTURE RESERVES AND INCOME
             ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                             AS OF DECEMBER 31, 2001
                                    SEC CASE


 SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                                           GAS LEASE
   TENGASCO INC. - OPERATOR   12-T1S-R74E                                              POSSIBLE
     LOCATION #72   (KNOX)                                                             UNDEVELOPED


                            REVENUE INTEREST                    PRODUCT PRICES
                       ----------------------------  -------------------------------------       DISCOUNTED
             EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
             INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
             --------  --------  --------  --------  -------------  ------  -------------- ----------------------
                                                                               
 INITIAL -   1.000000                                                                       5.00% -             0
 FINAL   -   1.000000                                                                      10.00% -             0
 REMARKS - UNECONOMIC AT CURRENT PRICES.                                                   15.00% -             0
                                                                                           20.00% -             0
                                                                                           25.00% -             0





                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
                                                                                     
 2002                   0           0           0               0           0           0.000       0.00     0.00
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005                   0           0           0               0           0           0.000       0.00     0.00
 2006                   0           0           0               0           0           0.000       0.00     0.00
 2007                   0           0           0               0           0           0.000       0.00     0.00
 2008                   0           0           0               0           0           0.000       0.00     0.00
 2009                   0           0           0               0           0           0.000       0.00     0.00
 2010                   0           0           0               0           0           0.000       0.00     0.00
 2011                   0           0           0               0           0           0.000       0.00     0.00
 2012                   0           0           0               0           0           0.000       0.00     0.00
 2013                   0           0           0               0           0           0.000       0.00     0.00
 2014                   0           0           0               0           0           0.000       0.00     0.00
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0           0               0           0           0.000       0.00     0.00

 CUMULATIVE             0           0           0
 ULTIMATE               0           0           0





                      COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
        ------------------------------------------------------------------- -----------------------   FGR AFTER
             FROM         FROM         FROM                                                           PRODUCTION
  PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
 ----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
                                                                                        
 2002                0           0             0            0             0           0           0             0
 2003                0           0             0            0             0           0           0             0
 2004                0           0             0            0             0           0           0             0
 2005                0           0             0            0             0           0           0             0
 2006                0           0             0            0             0           0           0             0
 2007                0           0             0            0             0           0           0             0
 2008                0           0             0            0             0           0           0             0
 2009                0           0             0            0             0           0           0             0
 2010                0           0             0            0             0           0           0             0
 2011                0           0             0            0             0           0           0             0
 2012                0           0             0            0             0           0           0             0
 2013                0           0             0            0             0           0           0             0
 2014                0           0             0            0             0           0           0             0
 2015                0           0             0            0             0           0           0             0
 2016                0           0             0            0             0           0           0             0

 SUB-TOT             0           0             0            0             0           0           0             0
 REMAIN              0           0             0            0             0           0           0             0
 TOTAL               0           0             0            0             0           0           0             0






                                DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
        -------------------------------------------------------------- ------------------------------------------
         OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
  PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
 ----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
                                                                                        
 2002              0           0           0           0             0              0             0             0
 2003              0           0           0           0             0              0             0             0
 2004              0           0           0           0             0              0             0             0
 2005              0           0           0           0             0              0             0             0
 2006              0           0           0           0             0              0             0             0
 2007              0           0           0           0             0              0             0             0
 2008              0           0           0           0             0              0             0             0
 2009              0           0           0           0             0              0             0             0
 2010              0           0           0           0             0              0             0             0
 2011              0           0           0           0             0              0             0             0
 2012              0           0           0           0             0              0             0             0
 2013              0           0           0           0             0              0             0             0
 2014              0           0           0           0             0              0             0             0
 2015              0           0           0           0             0              0             0             0
 2016              0           0           0           0             0              0             0             0

 SUBTOT            0           0           0           0             0              0                           0
 REMAIN            0           0           0           0             0              0             0             0
 TOTAL             0           0           0           0             0              0                           0

   LIFE OF EVALUATION IS 0.00 YEARS.
   FINAL PRODUCTION RATE: 0.0 MMCF/MO






                         PETROLEUM RESERVES DEFINITIONS

                       SECURITIES AND EXCHANGE COMMISSION

INTRODUCTION

         Reserves are those  quantities of petroleum which are anticipated to be
commercially  recovered from known accumulations from a given date forward.  All
reserve  estimates involve some degree of uncertainty.  The uncertainty  depends
chiefly on the amount of reliable geologic and engineering data available at the
time of the estimate and the  interpretation  of these data. The relative degree
of  uncertainty  may be conveyed by placing  reserves  into one of two principal
classifications,  either proved or unproved.  Unproved reserves are less certain
to be  recovered  than  proved  reserves  and may be further  sub-classified  as
probable and possible reserves to denote progressively increasing uncertainty in
their recoverability. It should be noted that Securities and Exchange Commission
Regulation S-K prohibits the  disclosure of estimated  quantities of probable or
possible  reserves  of oil  and  gas  and any  estimated  value  thereof  in any
documents publicly filed with the Commission.

         Reserves estimates will generally be revised as additional  geologic or
engineering data become available or as economic conditions change.  Reserves do
not include quantities of petroleum being held in inventory,  and may be reduced
for usage or processing losses if required for financial reporting.

         Reserves  may be  attributed  to  either  natural  energy  or  improved
recovery   methods.   Improved   recovery   methods   include  all  methods  for
supplementing  natural  energy or altering  natural  forces in the  reservoir to
increase ultimate recovery.  Examples of such methods are pressure  maintenance,
cycling,  waterflooding,  thermal  methods,  chemical  flooding,  and the use of
miscible and immiscible displacement fluids. Other improved recovery methods may
be developed in the future as petroleum technology continues to evolve.

PROVED RESERVES  (SEC DEFINITIONS)

         Securities and Exchange  Commission  Regulation S-X Rule 4-10 paragraph
(a) defines proved reserves as follows:

PROVED OIL AND GAS  RESERVES.  Proved  oil and gas  reserves  are the  estimated
quantities of crude oil,  natural gas, and natural gas liquids which  geological
and engineering data demonstrate with reasonable  certainty to be recoverable in
future  years  from known  reservoirs  under  existing  economic  and  operating
conditions,  i.e.,  prices and costs as of the date the estimate is made. Prices
include consideration of changes in existing prices provided only by contractual
arrangements, but not on escalations based upon future conditions.

       (i)  Reservoirs  are  considered  proved  if  economic  producibility  is
       supported by either actual  production or conclusive  formation test. The
       area of a reservoir considered proved includes:

              (A) that portion  delineated by drilling  and defined  by  gas-oil
              and/or  oil-water  contacts,  if any; and

              (B) the immediately  adjoining portions not yet drilled, but which
              can be reasonably  judged as economically  productive on the basis
              of available  geological and  engineering  data. In the absence of
              information  on  fluid  contacts,   the  lowest  known  structural
              occurrence of hydrocarbons  controls the lower proved limit of the
              reservoir.



PETROLEUM RESERVES DEFINITIONS
Page 2


       (ii) Reserves which can be produced  economically  through application of
       improved  recovery  techniques  (such as fluid injection) are included in
       the "proved"  classification  when successful testing by a pilot project,
       or the  operation  of an  installed  program in the  reservoir,  provides
       support for the engineering  analysis on which the project or program was
       based.

       (iii) Estimates of proved reserves do not include the following:

              (A) oil that may become  available  from known  reservoirs  but is
              classified separately as "indicated additional reserves";

              (B) crude oil, natural gas, and natural gas liquids,  the recovery
              of which is subject to reasonable  doubt because of uncertainty as
              to geology, reservoir characteristics, or economic factors;

              (C) crude oil,  natural  gas,  and natural gas  liquids,  that may
              occur in undrilled prospects; and

              (D) crude oil,  natural gas, and natural gas liquids,  that may be
              recovered from oil shales, coal, gilsonite and other such sources.

PROVED DEVELOPED OIL AND GAS RESERVES. Proved developed oil and gas reserves are
reserves  that can be  expected  to be  recovered  through  existing  wells with
existing equipment and operating methods.  Additional oil and gas expected to be
obtained  through the application of fluid injection or other improved  recovery
techniques  for  supplementing  the  natural  forces and  mechanisms  of primary
recovery should be included as "proved developed reserves" only after testing by
a pilot  project or after the  operation of an installed  program has  confirmed
through production response that increased recovery will be achieved.

PROVED  UNDEVELOPED  RESERVES.  Proved  undeveloped  oil  and gas  reserves  are
reserves that are expected to be recovered from new wells on undrilled  acreage,
or from  existing  wells where a relatively  major  expenditure  is required for
recompletion.  Reserves on undrilled  acreage shall be limited to those drilling
units offsetting productive units that are reasonably certain of production when
drilled.  Proved reserves for other undrilled units can be claimed only where it
can be  demonstrated  with certainty that there is continuity of production from
the existing productive  formation.  Under no circumstances should estimates for
proved  undeveloped  reserves  be  attributable  to any  acreage  for  which  an
application  of  fluid  injection  or  other  improved  recovery   technique  is
contemplated,  unless such techniques have been proved effective by actual tests
in the area and in the same reservoir.

         Certain  Staff  Accounting   Bulletins  published   subsequent  to  the
promulgation  of  Regulation  S-X  have  dealt  with  matters  relating  to  the
application  of  financial  accounting  and  disclosure  rules  for  oil and gas
producing activities.  In particular,  the following  interpretations  extracted
from  Staff  Accounting  Bulletins  set forth  the  Commission  staff's  view on
specific questions pertaining to proved oil and gas reserves.

         Economic producibility of estimated proved reserves can be supported to
the satisfaction of the Office of Engineering if geological and engineering data
demonstrate  with  reasonable  certainty that those reserves can be recovered in
future years under  existing  economic and  operating  conditions.  The relative
importance of the many pieces of geological and engineering data which should be
evaluated when classifying  reserves cannot be identified in advance. In certain
instances,  proved  reserves  may be  assigned to  reservoirs  on the basis of a
combination  of electrical  and other type logs and core analyses which indicate
the reservoirs  are analogous to similar  reservoirs in the same field which are
producing  or have  demonstrated  the  ability to produce on a  formation  test.
(extracted from SAB-35)


                   RYDER SCOTT COMPANY PETROLEUM CONSULTANTS



PETROLEUM RESERVES DEFINITIONS
PAGE 3



         IN DETERMINING WHETHER "PROVED UNDEVELOPED  RESERVES" ENCOMPASS ACREAGE
ON WHICH FLUID INJECTION (OR OTHER IMPROVED RECOVERY TECHNIQUE) IS CONTEMPLATED,
IS IT APPROPRIATE TO DISTINGUISH  BETWEEN (I) FLUID  INJECTION USED FOR PRESSURE
MAINTENANCE  DURING THE EARLY LIFE OF A FIELD AND (II) FLUID  INJECTION  USED TO
EFFECT SECONDARY  RECOVERY WHEN A FIELD IS IN THE LATE STAGES OF DEPLETION?  ...
THE OFFICE OF ENGINEERING BELIEVES THAT THE DISTINCTION  IDENTIFIED IN THE ABOVE
QUESTION MAY BE APPROPRIATE IN A FEW LIMITED CIRCUMSTANCES,  SUCH AS IN THE CASE
OF CERTAIN  FIELDS IN THE NORTH SEA.  THE STAFF WILL REVIEW  ESTIMATES OF PROVED
RESERVES  ATTRIBUTABLE  TO FLUID  INJECTION  IN THE LIGHT OF THE STRENGTH OF THE
EVIDENCE  PRESENTED BY THE  REGISTRANT IN SUPPORT OF A CONTENTION  THAT ENHANCED
RECOVERY WILL BE ACHIEVED. (EXTRACTED FROM SAB-35)

         COMPANIES  SHOULD REPORT  RESERVES OF NATURAL GAS LIQUIDS WHICH ARE NET
TO THEIR LEASEHOLD INTEREST,  I.E., THAT PORTION RECOVERED IN A PROCESSING PLANT
AND ALLOCATED TO THE LEASEHOLD  INTEREST.  IT MAY BE  APPROPRIATE IN THE CASE OF
NATURAL GAS LIQUIDS NOT CLEARLY ATTRIBUTABLE TO LEASEHOLD INTERESTS OWNERSHIP TO
FOLLOW  INSTRUCTION  (B) OF ITEM  2(B)(3)  OF  REGULATION  S-K AND  REPORT  SUCH
RESERVES  SEPARATELY AND DESCRIBE THE NATURE OF THE OWNERSHIP.  (EXTRACTED  FROM
SAB-35)

         THE STAFF BELIEVES THAT SINCE COALBED METHANE GAS CAN BE RECOVERED FROM
COAL IN ITS  NATURAL  AND  ORIGINAL  LOCATION,  IT SHOULD BE  INCLUDED IN PROVED
RESERVES, PROVIDED THAT IT COMPLIES IN ALL OTHER RESPECTS WITH THE DEFINITION OF
PROVED OIL AND GAS  RESERVES  AS  SPECIFIED  IN RULE  4-10(A)(2)  INCLUDING  THE
REQUIREMENT THAT METHANE PRODUCTION BE ECONOMICAL AT CURRENT PRICES, COSTS, (NET
OF THE TAX CREDIT) AND EXISTING OPERATING CONDITIONS. (EXTRACTED FROM SAB-85)

         Statements   in   Staff   Accounting   Bulletins   are  not   rules  or
interpretations  of the  Commission  nor  are  they  published  as  bearing  the
Commission's  official approval;  they represent  interpretations  and practices
followed  by the  Division  of  Corporation  Finance and the Office of the Chief
Accountant  in  administering   the  disclosure   requirements  of  the  Federal
securities laws.

SUB-CATEGORIZATION OF DEVELOPED RESERVES  (SPE/WPC DEFINITIONS)

         In  accordance  with  guidelines  adopted by the  Society of  Petroleum
Engineers (SPE) and the World Petroleum  Congress (WPC),  developed reserves may
be sub-categorized as producing or non-producing.

PRODUCING.  Reserves  sub-categorized  as producing are expected to be recovered
from  completion  intervals  which  are  open and  producing  at the time of the
estimate.  Improved  recovery  reserves are considered  producing only after the
improved recovery project is in operation.

NON-PRODUCING.  Reserves  sub-categorized  as non-producing  include shut-in and
behind pipe  reserves.  Shut-in  reserves are expected to be recovered  from (1)
completion  intervals  which are open at the time of the estimate but which have
not  started   producing,   (2)  wells  which  were  shut-in  awaiting  pipeline
connections or as a result of a market interruption, or (3) wells not capable of
production  for  mechanical  reasons.  Behind pipe  reserves  are expected to be
recovered from zones in existing wells, which will require additional completion
work or future recompletion prior to the start of production.



                   RYDER SCOTT COMPANY PETROLEUM CONSULTANTS



PETROLEUM RESERVES DEFINITIONS
PAGE 4


UNPROVED RESERVES  (SPE/WPC DEFINITIONS)

         Unproved reserves are based on geologic and/or engineering data similar
to that  used in  estimates  of proved  reserves;  but  technical,  contractual,
economic, or regulatory uncertainties preclude such reserves being classified as
proved.  Unproved  reserves may be further  classified as probable  reserves and
possible reserves.

         Unproved reserves may be estimated assuming future economic  conditions
different  from  those  prevailing  at the time of the  estimate.  The effect of
possible   future   improvements  in  economic   conditions  and   technological
developments can be expressed by allocating  appropriate  quantities of reserves
to the probable and possible classifications.

PROBABLE RESERVES.  Probable reserves are those unproved reserves which analysis
of  geological  and  engineering  data  suggests  are more likely than not to be
recoverable.  In this context, when probabilistic methods are used, there should
be at least a 50 percent probability that the quantities actually recovered will
equal or exceed the sum of estimated proved plus probable reserves.

         In general,  probable reserves may include (1) reserves  anticipated to
be proved by normal step-out drilling where sub-surface control is inadequate to
classify these reserves as proved,  (2) reserves in formations that appear to be
productive  based on well log  characteristics  but lack core data or definitive
tests and which are not  analogous to producing or proved  reserves in the area,
(3)  incremental  reserves  attributable to infill drilling that could have been
classified as proved if closer  statutory  spacing had been approved at the time
of the estimate,  (4) reserves  attributable to improved  recovery  methods that
have been established by repeated commercially  successful applications when (a)
a project or pilot is planned  but not in  operation  and (b) rock,  fluid,  and
reservoir  characteristics  appear  favorable for  commercial  application,  (5)
reserves  in an area of the  formation  that  appears to be  separated  from the
proved area by faulting and the geologic  interpretation  indicates  the subject
area is structurally higher than the proved area, (6) reserves attributable to a
future  workover,  treatment,   re-treatment,  change  of  equipment,  or  other
mechanical  procedures,  where such procedure has not been proved  successful in
wells  which  exhibit  similar  behavior  in  analogous   reservoirs,   and  (7)
incremental reserves in proved reservoirs where an alternative interpretation of
performance or volumetric data indicates more reserves than can be classified as
proved.

POSSIBLE RESERVES.  Possible reserves are those unproved reserves which analysis
of geological  and  engineering  data suggests are less likely to be recoverable
than probable reserves.  In this context,  when probabilistic  methods are used,
there should be at least a 10 percent  probability that the quantities  actually
recovered  will equal or exceed the sum of estimated  proved plus  probable plus
possible reserves.

         In general,  possible reserves may include (1) reserves which, based on
geological  interpretations,  could  possibly  exist beyond areas  classified as
probable,  (2) reserves in formations that appear to be petroleum  bearing based
on log and core  analysis but may not be productive  at  commercial  rates,  (3)
incremental reserves attributed to infill drilling that are subject to technical
uncertainty,  (4) reserves  attributed to improved  recovery  methods when (a) a
project  or pilot is  planned  but not in  operation  and (b) rock,  fluid,  and
reservoir  characteristics  are such that a  reasonable  doubt  exists  that the
project will be  commercial,  and (5) reserves in an area of the formation  that
appears  to be  separated  from  the  proved  area by  faulting  and  geological
interpretation  indicates the subject area is structurally lower than the proved
area.

EX-99.15(A)

                                                                 Exhibit 99.15a


[RYDER SCOTT LOGO]  RYDER SCOTT COMPANY
                    ----------------------
                    PETROLEUM CONSULTANTS                     FAX (713) 651-0849

1100 LOUISIANA          SUITE 3800      HOUSTON, TEXAS 77002-5218
                                         TELEPHONE (713) 651-9191





           CONSENT OF INDEPENDENT PETROLEUM ENGINEERS AND GEOLOGISTS

      As independent oil and gas consultants, Ryder Scott Company, L.P. hereby
consents to: (a) the use of our report setting forth our estimates of proved
reserves and future revenue, as of December 31, 2001, to the interest of
Tengasco, Inc. (Tengasco) in certain oil and gas properties, and (b) all
references to our firm included in or made a part of Tengasco's Annual Report on
Form 10-K for the year ended December 31, 2001.



                                        /s/ RYDER SCOTT COMPANY, L.P.
                                        ----------------------------
                                        RYDER SCOTT COMPANY, L.P.




Houston, Texas
April 3, 2002









                                                                                   
1100, 530 - 8th AVENUE, S.W.      CALGARY, ALBERTA T2P 3S8         TEL (403) 262-2799      FAX (403) 262-2790
600 17TH STREET, SUITE 1610N      DENVER, COLORADO 80202-5416       TEL (303) 623-9147      FAX (303) 623-4258

EX-99.A

[RYDER SCOTT LOGO]  RYDER SCOTT COMPANY
                    ----------------------
                    PETROLEUM CONSULTANTS

1100 LOUISIANA                 SUITE 3800              HOUSTON, TEXAS 77002-5218
TELEPHONE (713) 651-9191                                      FAX (713) 651-0849


                   CONSENT OF INDEPENDENT PETROLEUM ENGINEERS

     As independent oil and gas  consultants,  Ryder Scott Company,  L.P. hereby
consents  to: (a) the use of our report  setting  forth our  estimates of proved
reserves  and future  revenue,  as of  December  31,  2001,  to the  interest of
Tengasco,  Inc.  (Tengasco)  in  certain  oil  and gas  properties,  and (b) all
references to our firm included in or made a part of Tengasco's Annual Report on
Form 10-K for the year ended December 31, 2001.


                                                  /s/ RYDER SCOTT COMPANY, L.P.
                                                  -----------------------------
                                                      RYDER SCOTT COMPANY, L.P.


Houston, Texas
April 3, 2002





                                                                                   
1100, 530 - 8th AVENUE, S.W.       CALGARY, ALBERTA T2P 3S8         TEL (403) 262-2799      FAX (403) 262-2790
600 17TH STREET, SUITE 1610N      DENVER, COLORADO 80202-5416       TEL (303) 623-9147      FAX (303) 623-4258