SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SALAS PETER E
(Last) (First) (Middle)
P.O. BOX 16867
(Street)
FERNANDINA BEACH FL 32035
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TENGASCO INC [ TGC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
10/02/2015
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 218,000(1) D
Common Stock 20,639,156(2) I By Affiliate Partnership(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option Right to Buy $0.22 10/02/2015 J(3) 1 10/02/2015 10/01/2020 Common Stock 6,250 $0 1 D
Option Right to Buy $0.27 07/02/2015 J(3) 1 07/02/2015 07/01/2020 Common Stock 6,250 $0 1 D
Option Right to Buy $0.23 04/02/2015 J(3) 1 04/02/2015 04/01/2020 Common Stock 6,250 $0 1 D
Option Right to buy $0.25 01/05/2015 J(3) 1 01/05/2015 01/04/2020 Common Stock 6,250 $0 1 D
Option Right to Buy $0.44 10/02/2014 J(3) 1 10/02/2014 10/01/2019 Common Stock 6,250 $0 1 D
Option Right to buy $0.44 07/02/2014 J(3) 1 07/02/2014 07/01/2019 Common Stock 6,250 $0 1 D
Option Right to buy $0.48 04/01/2014 J(3) 1 04/01/2014 03/31/2019 Common Stock 6,250 $0 1 D
Option Right to buy $0.41 01/03/2014 J(3) 1 01/03/2014 01/02/2019 Common Stock 6,250 $0 1 D
Option Right to buy $0.41 10/02/2013 J(3) 1 10/02/2013 10/01/2018 Common Stock 6,250 $0 1 D
Option Right to buy $0.48 07/01/2013 J(3) 1 07/01/2013 06/30/2018 Common Stock 6,250 $0 1 D
Option Right to buy $0.62 04/01/2013 J(3) 1 04/01/2013 03/31/2018 Common Stock 6,250 $0 1 D
Option Right to buy $0.64 01/02/2013 J(3) 1 01/02/2013 01/01/2018 Common Stock 6,250 $0 1 D
Option Right to buy $0.73 10/01/2012 J(3) 1 10/01/2012 09/30/2017 Common Stock 6,250 $0 1 D
Option Right to buy $0.81 07/02/2012 J(3) 1 07/02/2012 07/01/2017 Common Stock 6,250 $0 1 D
Option Right to buy $1.07 04/02/2012 J(3) 1 04/02/2012 04/01/2017 Common Stock 6,250 $0 1 D
Option Right to buy $0.75 01/03/2012 J(3) 1 01/03/2012 01/02/2017 Common Stock 6,250 $0 1 D
Option Right to Buy $0.72 10/03/2011 J(3) 1 10/03/2011 10/02/2016 Common Stocik 6,250 $0 1 D
Option Right to buy $0.84 07/06/2011 J(3) 1 07/06/2011 07/05/2016 Common Stock 6,250 $0 1 D
Option Right to buy $1.16 04/01/2011 J(3) 1 04/01/2011 03/31/2016 Common Stock 6,250 $0 1 D
Option Right to Buy $1.08 03/17/2011 J(3) 1 03/17/2011 03/16/2016 Common Stock 25,000 $0 1 D
1. Name and Address of Reporting Person*
SALAS PETER E
(Last) (First) (Middle)
P.O. BOX 16867
(Street)
FERNANDINA BEACH FL 32035
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
DOLPHIN OFFSHORE PARTNERS LP
(Last) (First) (Middle)
P.O. BOX 16867
(Street)
FERNANDINA BEACH FL 32035
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Held directly by Peter E. Salas in his individual capacity.
2. Held directly by Dolphin Offshore Partners L.P. Peter E. Salas, the chairman of Tengasco Inc.'s Board of Directors, is the sole shareholder and controlling person of Dolphin Mgmt. Services, Inc., the managing general partner of Dolphin Offshore Partners, L.P.
3. Grant of option pursuant to Tengasco's Stock Incentive Plan to Peter E. Salas in his individual capacity.
Remarks:
/s/ Dolphin Offshore Partners, L.P. 10/06/2015
/s/ Peter E Salas 10/06/2015
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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