-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JgpalVVO4z3sPb9DgXCrdNtUUIPrWhjOBG1h5UcWJ2crYTRtD0RP09brciG0HbMk vYf7LXYBT6D4vFfI55SWdg== 0001001614-06-000014.txt : 20060424 0001001614-06-000014.hdr.sgml : 20060424 20060424085037 ACCESSION NUMBER: 0001001614-06-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060424 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060424 DATE AS OF CHANGE: 20060424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TENGASCO INC CENTRAL INDEX KEY: 0001001614 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 870267438 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15555 FILM NUMBER: 06774018 BUSINESS ADDRESS: STREET 1: 10215 TECHNOLOGY DRIVE STREET 2: SUITE 301 CITY: KNOXVILLE STATE: TN ZIP: 37932 BUSINESS PHONE: 865-675-1554 MAIL ADDRESS: STREET 1: 10215 TECHNOLOGY DRIVE STREET 2: SUITE 301 CITY: KNOXVILLE STATE: TN ZIP: 37932 8-K 1 april24_8k.htm APRIL 24, 2006

 

                           UNITED STATES
SECURITIES and EXCHANGE COMMISSION

 

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

Current Report Pursuant to Section 13 or 15(d) of the

 

Securities Exchange Act of 1934

 

 

 

 

Date of Report (Date of Earliest Event Reported):

 

 

April 24, 2006

 

 

Tengasco, Inc.

 

 

(Exact Name of Registrant as specified in its charter)

 

 

Commission File Number 0-20975

 

 

Tennessee

87-0267438

 

(State or other jurisdiction of

(I.R.S. Employer Identification No.)

incorporation or organization)

 

 

 

 

10215 Technology Drive N.W., Suite 301, Knoxville, Tennessee 37932

 

(Address of Principal Executive Office

 

 

 

 

(865) 675-1554

 

 

(Registrant's Telephone number)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

Item 2.02.

Results of Operations and Financial Condition.

 

On April 24, 2006, Tengasco, Inc. issued a press release which discloses the results to date of it's eight and twelve well drilling programs on its Kansas properties and the Company’s record level oil production in Kansas for the first quarter ended March 31, 2006. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01

Financial Statements and Exhibits

 

(c)

Exhibits

 

99.1

Press Release dated April 24, 2006

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.

 

Dated: April 24, 2006

 

 

Tengasco, Inc.

 

 

 

By: s/Jeffery R. Bailey  

 

 

Jeffrey R. Bailey,

 

 

Chief Executive Officer

 

 

 

 

 

 

 

EX-99 2 pressrelease_april24.htm PRESS RELEASE

For immediate release

Tengasco, Inc. Announces Completion of 8-Well Drilling Program and First Quarter Kansas Operations Update

Knoxville, Tenn. Tengasco, Inc. (AMEX:TGC) today announced the completion of the Company’s 8-well drilling program on its oil producing properties in Kansas by the drilling of the final two program wells. The 8-well drilling program proved to be highly successful, with 7 of 8 wells producing or expected to produce commercial quantities of oil. The Company also announced that three of the wells in the Company’s 12-well drilling program in Kansas have also been drilled to date, and the fourth program well, the Foster #10, is currently being drilled.

The last of the wells drilled in the 8-well program, the Crofoot A-9 was finished in April 2006. CEO Jeffrey R. Bailey said, “This well had an outstanding test, and we expect this to be the best producer of the 8 program wells drilled. While the test volumes for this well exceeded 450 barrels of oil per day (BOPD), we anticipate that the initial and near- term actual production rates will most likely be maintained in the range of 100 BOPD in order to maintain the functionality of the well and to promote maximum long-term recoverability of reserves. The structure of the drilling program calls for the participants to receive all revenues from their program interest until payout of their investment, when the Company will begin to receive a management fee of 85% of revenues from the participant’s program interest. The Company will continue to receive this management fee for the remaining life of the wells. As a result of the expected overall production levels of all the program wells, the Company anticipates that the payout to the participants will occur and that the Company will commence receiving these management fee revenues for all of these eight program wells sometime in the third quarter of 2006.”

 

The Company also announced that quarterly oil production volumes in Kansas achieved another record level with 38,502 barrels of oil produced in the first quarter of 2006. This is the highest first quarter Kansas oil production level since 1997, the year Tengasco purchased the Kansas oil properties. Mr. Bailey said, “In our historically lowest quarter for production, it is a testament to the value of our Kansas properties and our Kansas based employees, that we were able to achieve these excellent results in the first quarter of 2006.”

 

The Company announced that it expects to file with the Securities and Exchange Commission, its Report on Form 10-Q for the Quarter Ended March 31, 2006 in early May, 2006.

 

Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the Company's reserves and projects as well as risks of downturns in economic conditions generally, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

 

 

 

 

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