8-K

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): March 30, 2015

Tengasco, Inc.

(Exact name of registrant as specified in its charter)

Commission File Number: 1-15555

Delaware	87-0267438
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

6021 S. Syracuse Way, Suite 117, Greenwood Village CO 80111

(Address of principal executive offices, including zip code)

(720) 420-4460

(Registrant’s telephone number, including area code)

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):

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

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

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

☐ 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 March 30, 2015, Tengasco, Inc. (the “Company”) issued a press release announcing its financial results for the twelve months ended December 31, 2014.  A copy of the press release is attached to this report as Exhibit 99.1.

On May 14, 2015, the Company issued a press release announcing its financial results for the three months ended March 31, 2015.  A copy of the press release is attached to this report as Exhibit 99.2.

On August 14, 2015, the Company issued a press release announcing its financial results for the three and six months ended June 30, 2015.  A copy of the press release is attached to this report as Exhibit 99.3.

On November 16, 2015 the Company issued a press release announcing its financial results for the three and nine months ended September 30, 2015.  A copy of the press release is attached to this report as Exhibit 99.4.

On March 30, 2016, the Company issued a press release announcing its financial results for the twelve months ended December 31, 2015.  A copy of the press release is attached to this report as Exhibit 99.5.

On May 13, 2016, the Company issued a press release announcing its financial results for the three months ended March 31, 2016.  A copy of the press release is attached to this report as Exhibit 99.6.

On August 12, 2016, the Company issued a press release announcing its financial results for the three and six months ended June 30, 2016.  A copy of the press release is attached to this report as Exhibit 99.7.

The information in this Current Report on Form 8-K, including the information set forth in Exhibits 99.1 through 99.7, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release dated March 30, 2015 (a)
99.2	Press Release dated May 14, 2015 (a)
99.3	Press Release dated August 14, 2015 (a)
99.4	Press Release dated November 16, 2015 (a)
99.5	Press Release dated March 30, 2016 (a)
99.6	Press Release dated May 13, 2016 (a)
99.7	Press Release dated August 12, 2016 (a)

(a) The exhibits relating to Item 2.02 are intended to be furnished to, not filed with, the U.S. Securities and Exchange Commission pursuant to General Instruction B.2 of Form 8-K.

1

SIGNATURES

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

Date:  November 21, 2016

TENGASCO, INC.
By:	/s/ Michael J. Rugen
Name:	Michael J. Rugen
Title:	Chief Executive Officer

EX-99.1

Exhibit 99.1 Press Release dated March 30, 2015

Tengasco Announces Year-End 2014 Financials and Results of Operations

GREENWOOD VILLAGE, Colo., March 30, 2015 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today that it has filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended December 31, 2014.

The Company reported net loss from continuing operations of $(0.8) million or $(0.01) per share in 2014 compared to net income from continuing operations of $3.0 million or $0.05 per share in 2013. Included in the 2014 net loss was a $2.8 million ($1.7 million net of tax effect) non-cash impairment of the Company’s Manufactured Methane facilities.  Net income from continuing operations before effect of impairment was $0.9 million or $0.02 per share in 2014 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The impairment resulted from the Company’s assessment that future cash flows, using historical costs and runtimes, were insufficient to recover the Manufactured Methane facilities’ net book value.  The Manufactured Methane facilities were written down to a fair value amount calculated from future discounted cash flows, as well as certain expressions of interest regarding potential purchase of the facilities by an outside party.  The Company did not report net income or loss from discontinued operations in 2014.  The Company reported a net loss from discontinued operations of $(0.1) million or $(0.00) per share in 2013 as the Company’s pipeline assets were sold in August 2013.

The Company realized revenues of approximately $13.8 million in 2014 compared to $15.7 million in 2013.  During 2014, revenues decreased approximately $1.9 million of which $1.2 million was related to decreases in oil sales volumes from 166.2 MBbl in 2013 to 153.5 MBbl in 2014.  The more significant production declines were experienced in the Albers, Coddington, Liebenau, McElhaney A, Veverka A, and Veverka C leases.  These decreases were primarily due to natural declines from higher levels of production as a result of drilling and polymers on these leases during 2011 and the first half of 2012.  These production declines were partially offset by production from the successful drilling of the Albers B #3, Albers C #1, Howard A #1, and Veverka D #4 wells.  In addition, $0.8 million of this decrease related to a $4.98 per barrel decrease in the average oil price received from $91.03 per barrel received in 2013 to $86.05 per barrel received in 2014.  Also, there was a $0.1 million decrease related to lower gas sales as the Tennessee oil and gas assets were sold in 2013 and a $0.1 million decrease in gas sales at the methane facility as the Company focus on electric generation only in 2014.  These decreases were partially offset by a $0.3 million increase in electric generation revenues at the landfill related to an increase in runtime from 27% during 2013 to 56% during 2014.

The Company reported total proven oil reserves at December 31, 2014 of 1.8 million barrels, valued at $40.4 million on a discounted future net cash flow basis before effect of income taxes, down from 2.0 million barrels valued at $47.9 million at December 31, 2013.

Michael J. Rugen, CEO, said, “Although our drilling success in 2014 was lower than in prior years, we did complete 50% of our drilled wells as producers.  However, like all others in the crude oil exploration and production business, the drastic changes in world market pricing for crude oil at the very end of 2014 and continuing to this day will be adversely affecting our oil revenues and results of operations in 2015 as well as causing us to slow our drilling and polymer activities until prices improve.  We also anticipate during 2015, we will be required to write down our oil and gas properties due to ceiling test failures as a result of the low oil prices.  Although the yearly price average in 2014 was about $86 per barrel, current pricing in 2015 is approaching about half of that, and there is no reliable forecast of when prices may rise again. Currently we have budgeted to drill only two wells in calendar 2015.  However, we will consider workovers and recompletions of our existing wells on a case by case basis. We also intend to expand our seismic program in 2015 on the new acreage we acquired off the Central Kansas Uplift. Our well drilled in December 2014 to test the initial seismic acquisition was plugged and abandoned.  However, the knowledge gained from drilling this test well will assist in our continuing evaluation of this area and our planning for additional drilling in the future.”

“In addition, the Company plans to increase its leasing and seismic activities during 2015 in other areas.  We will also continue to look for opportunities to acquire existing production from other parties.  If this period of lower crude oil market prices continues, other parties with greater leverage burdens may face pressure to sell their assets at lower sales prices. Tengasco is in a relatively stronger position to take advantage of this in view of our low debt levels due to our paydown of our credit facility from cash flow during much of the last two years.  However, to date we have not seen significant downward pressures on sales prices of new acreage or existing production.”

The statements contained in this release that are not purely historical are forward-looking statements within the meaning of applicable securities laws.  Forward-looking statements include statements regarding “expectations,” “anticipations,” “intentions,” “beliefs,” or “strategies” regarding the future.  Forward-looking statements also include statements regarding revenue, margins, expenses, and earnings analysis for 2014 and thereafter; oil and gas prices; reserve calculation and valuation; exploration activities; development expenditures; costs of regulatory compliance; environmental matters; technological developments; future products or product development; the Company’s products and distribution development strategies; potential acquisitions or strategic alliances; and liquidity and anticipated cash needs and availability.  The Company’s actual results could differ materially from the forward-looking statements.

GAAP to Non-GAAP Reconciliation ($ millions, except per share data)

	Year Ended
	December 31, 2014
Net loss from continuing operations (US GAAP)	$	(0.8	)
Impairment, net of tax	$	1.7
Net income from continuing operations before effect of impairment	$	0.9
Net loss per share from continuing operations – basic and diluted (US GAAP)	$	(0.01	)
Impairment, net of tax per share – basic and diluted	$	0.03
Net income per share from continuing operations before effect of impairment – basic and diluted	$	0.02

SOURCE Tengasco, Inc.

EX-99.2

Exhibit 99.2 Press Release dated May 14, 2015

Tengasco Announces First Quarter 2015 Financials and Results of Operations

GREENWOOD VILLAGE, Colo., May 14, 2015 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today its financial results for the quarter ended March 31, 2015.  The Company reported a net loss of $(0.5) million or $(0.01) per share during the first quarter of 2015 compared to net income of $0.4 million or $0.01 per share during the first quarter of 2014.

The Company realized revenues of approximately $1.6 million during the first quarter of 2015 compared to revenues of $3.5 million during the first quarter of 2014.  During the first quarter of 2015, revenues decreased approximately $1.9 million of which $1.8 million related to a $49.91 per barrel decrease in the average oil price received from an average of $92.21 per barrel received during the first quarter of 2014 to an average of $42.30 per barrel received during the first quarter of 2015.  In addition, the Company experienced a $126,000 decrease in revenues related to a 1.4 MBbl decrease in net oil sales volumes from 37.0 MBbl during the first quarter of 2014 to 35.6 MBbl during the first quarter of 2015.

During the first quarter of 2015, the Company reported a $197,000 decrease in production cost and taxes, and a $139,000 decrease in general and administrative cost.  These reductions were primarily due to non-recurring costs recognized during the first quarter of 2014. In addition, the Company reported a $604,000 decrease in associated income tax expense.

Michael J. Rugen, CEO, said, “Performance during the first quarter of 2015 was significantly impacted by a 54% decrease in oil prices compared to the prices we received during the first quarter of 2014.  Although oil prices have increased from the levels seen in mid March 2015, the Company expects low oil prices to continue in the near future.  Consequently, the Company will continue to look for ways to reduce cost without significantly impacting the ongoing operations of the Company.  During the first quarter of 2015, we have initiated temporary salary cuts and will consider workovers and recompletions of our existing wells on a case by case basis.  Although no write down of our oil and gas properties was required under accounting rules in the first quarter of 2015 as a result of ceiling test failures due to low oil prices, we expect non-cash write downs to occur later this year particularly if low oil prices continue.”

“We are continuing to look for opportunities to acquire existing production from other parties as well as leasing of additional acreage.  As noted in our last press release, the Company believes that if this period of lower crude oil market prices continues, other parties with greater debt burdens may face pressure to sell their assets at lower sales prices. Tengasco is in a relatively stronger position to take advantage of this in view of our low debt levels due to our paydown of our credit facility from cash flow during much of the last two years.  We have started to see more opportunities become available and will pursue those opportunities that we believe are priced appropriately for today’s economic environment.”

The statements contained in this release that are not purely historical are forward-looking statements within the meaning of applicable securities laws.  Forward-looking statements include statements regarding “expectations,” “anticipations,” “intentions,” “beliefs,” or “strategies” regarding the future.  Forward-looking statements also include statements regarding revenue, margins, expenses, and earnings analysis for 2015 and thereafter; oil and gas prices; reserve calculation and valuation; exploration activities; development expenditures; costs of regulatory compliance; environmental matters; technological developments; future products or product development; the Company’s products and distribution development strategies; potential acquisitions or strategic alliances; and liquidity and anticipated cash needs and availability.  The Company’s actual results could differ materially from the forward-looking statements.

SOURCE Tengasco, Inc.

EX-99.3

Exhibit 99.3 Press Release dated August 14, 2015

Tengasco Announces Second Quarter 2015 Financial Results

GREENWOOD VILLAGE, Colo., Aug. 14, 2015 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today its financial results for the quarter ended June 30, 2015. The Company reported net loss from continuing operations of $(76,000) or $(0.00) per share of common stock during the second quarter of 2015 compared to net income from continuing operations of $377,000 or $0.01 per share of common stock during the second quarter of 2014.  The $453,000 decrease in net income was primarily due to a $2.1 million decrease in revenues, partially offset by a $1.0 million decrease in production cost and taxes, a $257,000 decrease in general and administrative cost, a $53,000decrease in DD&A, and a $292,000 decrease in associated income tax expense.

The Company also recognized $1.9 million in revenues during the second quarter of 2015 compared to $4.0 million during the second quarter of 2014. This revenue decrease from 2014 levels was primarily due to a $1.5 million decrease related to a $44.91 per barrel decrease in the average Kansas oil price from an average price of $96.10 per barrel during second quarter of 2014 compared to an average price of $51.19 per barrel during the second quarter of 2015, and a $514,000 decrease related to a 5.3 MBbl decrease in Kansas sales volumes.

The Company reported a net loss of $(591,000) or $(0.01) per share of common stock during the first six months of 2015 compared to net income of $802,000 or $0.01 per share of common stock during the first six months of 2014.  The $1.4 million decrease in net income was primarily due to a $4.0 million decrease in revenues, partially offset by a $1.2 million decrease in production cost and taxes, a $396,000 decrease in general and administrative cost, and an $895,000decrease in associated income tax expense.

The Company recognized $3.5 million in revenues during the first six months of 2015 compared to $7.5 million during the first six months of 2014. The revenue decrease from 2014 levels was primarily due to a $3.3 million decrease related to a $47.58 per barrel decrease in the average Kansas oil price from an average price of $94.22 per barrel during first six months of 2014 compared to an average price of $46.64 per barrel during the first six months of 2015, and a $633,000decrease related to the 6.7 MBbl decrease in Kansas sales volumes.

Michael J. Rugen, CEO said, “The Company continues to deal with depressed crude oil pricing. Like others in this industry, our drilling plans are largely on hold until prices improve.  We continue to consider workover and recompletion decisions on our existing wells as they arise in the context of current market realities.  However, we have seen some downward movement in service costs and intend to take advantage of those cost reductions by initiating a seismic program on our recently leased acreage in Kansas.  During the second quarter of 2015, we continued to evaluate corporate opportunities, as well as opportunities to purchase acreage and producing properties.  We believe we have started to see the beginning of distressed sales by others of producing properties and expect more of these acquisition opportunities to appear as existing price hedging begins to fall off and other producers are forced to deal directly with the realities of the current market.  We intend to evaluate taking advantage of those opportunities either on our own or in joint ventures with industry partners.”

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.

SOURCE Tengasco, Inc.

EX-99.4

Exhibit 99.4 Press Release dated November 16, 2015

Tengasco Announces Third Quarter 2015 Financial Results

GREENWOOD VILLAGE, Colo., Nov. 16, 2015 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today its financial results for the quarter ended September 30, 2015. The Company reported a net loss of $(5.0 million) or $(0.08)per share of common stock during the third quarter of 2015 compared to net income of $425,000 or $0.01 per share of common stock during the third quarter of 2014.  The $5.4 million decrease was primarily due to recording a non-cash ceiling test impairment of $7.2 million ($4.4 million net of tax effect) as a result of the low oil prices experienced during 2015, a $2.2 million decrease in revenues, partially offset by a $335,000 decrease in production cost and taxes, a $112,000 decrease in DD&A, a $110,000 decrease in general and administrative cost, and a $3.5 million decrease in associated income tax expense.  Net loss before effect of impairment was $(587,000) or $(0.01) for the quarter ended September 30, 2015 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The Company also recognized $1.4 million in revenues during the third quarter of 2015 compared to $3.6 million during the third quarter of 2014. This revenue decrease from 2014 levels was primarily due to a $1.6 million decrease related to a $50.07 per barrel decrease in the average oil price from an average price of $90.31 per barrel during third quarter of 2014 compared to an average price of $40.24 per barrel during the third quarter of 2015, and a $648,000 decrease related to a 7.2 MBbl decrease in oil sales volumes.

The Company reported a net loss of $(5.55 million) or $(0.09) per share of common stock during the first nine months of 2015 compared to net income of $1.2 million or $0.02 per share of common stock during the first nine months of 2014.  The $6.8 million decrease in net income was primarily due to recording a non-cash ceiling test impairment of $7.2 million ($4.4 million net of tax effect) together with a $6.15 million decrease in revenues, partially offset by a $1.55 million decrease in production cost and taxes, a $505,000 decrease in general and administrative cost, and a $4.4 million decrease in associated income tax expense.  Net loss before effect of impairment was $(1.2 million) or $(0.02) for the nine months ended September 30, 2015 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The Company recognized $5.0 million in revenues during the first nine months of 2015 compared to $11.1 million during the first nine months of 2014. The revenue decrease from 2014 levels was due to a $4.9 million decrease related to a $48.25 per barrel decrease in the average oil price from an average price of $92.90 per barrel during first nine months of 2014 compared to an average price of $44.65 per barrel during the first nine months of 2015, and a $1.3 million decrease related to a 13.9 MBbl decrease in oil sales volumes.

Michael J. Rugen, CEO said, “During the third quarter 2015 we saw prices decrease approximately 21% from price levels received during the second quarter 2015.  As was the case during the second quarter of 2015, our drilling plans remain on hold until prices improve.  We continue to consider workover and recompletion decisions on our existing wells as they arise in the context of current market realities.  During the third quarter of 2015, we continued to evaluate corporate opportunities, as well as opportunities to purchase acreage and producing properties.  While we have reviewed numerous opportunities, we have been unable to come to any agreement on terms beneficial to the company.  During the fourth quarter of 2015, we plan to take advantage of the currently low seismic cost and have contracted to start shooting additional seismic over our recently leased Kansas acreage with plans to drill in the second quarter of 2016.  Drilling plans will be dependent on locations we are able to identify from seismic, as well as oil prices at that time.  We will also continue to search for acquisitions, joint ventures, and corporate opportunities that will add value to the Company.”

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.

GAAP to Non-GAAP Reconciliation ($ millions, except per share data)

	Quarter Ended			Nine Months Ended
	September 30, 2015			September 30, 2015
Net loss from continuing operations (US GAAP)	$	(5.0	)	$	(5.6	)
Impairment, net of tax	$	4.4		$	4.4
Net loss before effect of impairment	$	(0.6	)	$	(1.2	)
Net loss per share – basic and diluted (US GAAP)	$	(0.08	)	$	(0.09	)
Impairment, net of tax per share – basic and diluted	$	0.07		$	0.07
Net loss per share before effect of impairment – basic and diluted	$	(0.01	)	$	(0.02	)

SOURCE Tengasco, Inc.

EX-99.5

Exhibit 99.5 Press Release dated March 30, 2016

Tengasco Announces Year-End 2015 Financials and Results of Operations

GREENWOOD VILLAGE, Colo., March 30, 2016 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today that it has filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended December 31, 2015.

The per-share information in this release reflects the one–for-ten reverse stock split approved by shareholder vote on March 21, 2016 and made effective March 24, 2016 as to 2015 and prior periods. The Company reported net loss from continuing operations of $(24.7) million or $(4.06) per share in 2015 compared to net loss of $(0.8) million or $(0.13) per share in 2014. Included in the 2015 net loss was a $14.5 million non-cash impairment of the Company’s oil and gas properties and recording of a $7.3 million non-cash valuation allowance on the Company’s deferred tax asset. Net loss before effect of the impairment and the valuation allowance is $(2.9) million or $(0.47) per share in 2015 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The non-cash impairment resulted from ceiling test failures during the quarters ended September 30, 2015 and December 31, 2015. These ceiling test failures were primarily a result of low oil prices experienced since late 2014. The valuation allowance was primarily a result of cumulative losses incurred during the three years ended December 31, 2015.

The Company realized revenues of approximately $6.2 million in 2015 compared to $13.8 million in 2014. During 2015, revenues decreased approximately $7.6 million of which $5.7 million was related to a $43.39 per barrel decrease in average oil price received from $86.05 per barrel received in 2014 to $42.66 per barrel received in 2015. In addition, $1.9 million of the decrease was related to decreases in oil sales volumes from 153.5 MBbl in 2014 to 130.9 MBbl in 2015. The more significant production declines were experienced in the Albers, Liebenau, McElhaney A, Veverka B, and Veverka D leases. These decreases were primarily due to natural declines. These production declines were partially offset by production from the successful drilling of the Howard A #1 in late 2014.

The Company reported total proved oil reserves at December 31, 2015 of 0.9 million barrels, valued at $8.3 million on a discounted future net cash flows basis before effect of income taxes, down from 1.8 million barrels valued at $40.4 million at December 31, 2014. The decrease in volumes and value is primarily related to a $44.36 decrease in oil price used in the reserve report from $88.34 per barrel used at December 31, 2014 to $43.98 per barrel used at December 31, 2015.

Michael J. Rugen, CEO, said “Low oil prices in 2015 have significantly impacted our business. Not only did low oil prices severely impact our 2015 and current year revenues, but also was by far the primary contributor to the impairment of our oil and gas properties as well as recording of the valuation allowance on our deferred tax asset. The Company anticipates low oil prices to continue in the near term and has taken steps to reduce G&A and operating costs. The Company has continued to review personnel, services, and service providers to determine if there are cost-effective alternatives. As a result of this review, the Company recently terminated three full time employees in its corporate geological and engineering staff resulting in an annualized reduction in G&A of approximately $500,000. However, those savings will be offset in part by the cost of contractors and consultants that the Company intends to utilize on an as-needed basis going forward until crude oil prices improve significantly and the Company determines a need to add technical employees. In addition, the Company should benefit from the knowledge provided by the more specialized consultants we would use to assist our review of a variety of opportunities in several geographical areas in addition to Kansas. Salary reductions for our Kansas personnel have also been initiated. We will continue to review other cost cutting measures during these periods of low oil prices.”

“During the first quarter of 2016, the Company completed shooting seismic over our Saline County acreage. Processing and interpretation of this data should be completed in the second quarter of 2016. While the Company has started to see more producing asset and drilling opportunities become available in the market, many of these opportunities remain uneconomic at current prices.”

The statements contained in this release that are not purely historical are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements regarding “expectations,” “anticipations,” “intentions,” “beliefs,” or “strategies” regarding the future. Forward-looking statements also include statements regarding revenue, margins, expenses, and earnings analysis for 2015 and thereafter; oil and gas prices; reserve calculation and valuation; exploration activities; development expenditures; costs of regulatory compliance; environmental matters; technological developments; future products or product development; the Company’s products and distribution development strategies; potential acquisitions or strategic alliances; and liquidity and anticipated cash needs and availability. The Company’s actual results could differ materially from the forward-looking statements.

GAAP to Non-GAAP Reconciliation ($ millions, except per share data)

	Year Ended December 31, 2015
Net loss (US GAAP)	$	(24.7	)
Impairment	$	14.5
Valuation allowance	$	7.3
Net income from continuing operations before effect of impairment	$	(2.9	)
Net loss per share – basic and diluted (US GAAP)	$	(4.06	)
Impairment – basic and diluted	$	2.38
Valuation allowance – basic and diluted	$	1.21
Net income per share before effect of impairment and valuation allowance – basic and diluted	$	(0.47	)

CONTACT: Cary V. Sorensen, 720-420-4460

EX-99.6

Exhibit 99.6 Press Release dated May 13, 2016

Tengasco Announces First Quarter 2016 Financial Results

GREENWOOD VILLAGE, Colo., May 13, 2016 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today its financial results for the quarter ended March 31, 2016. The Company reported a net loss of $(1,404,000) or $(0.23) per share of common stock during the first quarter of 2016 compared to net loss of $(515,000) or $(0.08) per share of common stock during the first quarter of 2015.  The $889,000 decrease was primarily due to recording a $702,000 decrease in revenues, a non-cash ceiling test impairment of $641,000as a result of the low oil prices experienced during 2015 and 2016, a $331,000 decrease in income tax benefit, all of which were partially offset by a $396,000 decrease in DD&A, a $363,000 decrease in production costs and taxes, and a $54,000 decrease in general and administrative costs.  Net loss before effect of impairment was $(763,000) or $(0.13) for the quarter ended March 31, 2016(a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The Company also recognized $932,000 in revenues during the first quarter of 2016 compared to $1,634,000 during the first quarter of 2015. This revenue decrease from 2015 levels was primarily due to a $407,000 decrease related to a $14.63 per barrel decrease in the average oil price from an average price of $42.30 per barrel during first quarter of 2015 compared to an average price of $27.67 per barrel during the first quarter of 2016, and a $328,000 decrease related to a 7.7 MBbl decrease in oil sales volumes.  The more significant sales volume declines were experienced in the Albers B, Coddington, Dick A, Heyl, Howard A, Kraus B, Liebenau, Mosher, Veverka B and D leases.

Michael J. Rugen, CEO said, “During the first quarter of 2016, the Company completed the seismic shoot over its Saline County, Kansas acreage.  While we have not completed our interpretation of the seismic, it appears that several potential drilling locations may exist.  In addition, the Company continues to evaluate acquisition, joint venture, and corporate opportunities that will add value to the Company.  Although we are in the process of evaluating several opportunities, no agreements have been entered into by the Company to move forward with any of the opportunities currently under evaluation.  In order to fund this potential drilling as well as other possible transactions, the Company is considering additional means of raising capital as the current credit facility would not be sufficient to fund these potential opportunities.

Personnel reductions announced during the first quarter of 2016, resulted in savings of payroll and benefit costs of approximately $19,000.  However, these savings were offset by one time severance payments made to the severed personnel.  The Company realized only a small portion of these saving as the reductions occurred late in the first quarter.  In future quarters, the Company anticipates savings of approximately $125,000 per quarter as a result of these personnel reductions.  These anticipated savings may be reduced as a result of using contractors and consultants on an as needed basis.

During the first quarter 2016 we saw realized oil prices drop below $30 per barrel.  This was the lowest level we have seen during this current period of low prices.  Although we have experienced price increases since the end of the first quarter, current price levels still make it a challenge for the company to regain profitability.  During the first quarter of 2016, the Company recorded a non-cash ceiling test impairment.  This represents the third quarter in a row that such an impairment has been recorded.  The Company also expects to record an impairment during the second quarter of 2016 as it appears that prices during the second quarter of 2016 will be significantly lower than prices realized during the second quarter of 2015.  We will continue to evaluate all of our suppliers and service providers in order to determine if there are additional ways for the Company to reduce G&A and operating costs.”

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.

GAAP to Non-GAAP Reconciliation ($ thousands, except per share data)

	Quarter Ended
	March 31, 2016
Net loss from continuing operations (US GAAP)	$	(1,404	)
Impairment	$	641
Net loss before effect of impairment	$	(763	)
Net loss per share – basic and diluted (US GAAP)	$	(0.23	)
Impairment, net of tax per share – basic and diluted	$	0.10
Net loss per share before effect of impairment – basic and diluted	$	(0.13	)

SOURCE Tengasco, Inc.

EX-99.7

Exhibit 99.7 Press Release dated August 12, 2016

Tengasco Announces Second Quarter 2016 Financial Results

GREENWOOD VILLAGE, Colo., Aug. 12, 2016 /PRNewswire/ -- Tengasco, Inc. (NYSE MKT: TGC) announced today its financial results for the quarter ended June 30, 2016. The Company reported a net loss of $1.6 million or $0.27 per share of common stock during the second quarter of 2016 compared to a net loss of $76,000 or $0.01 per share of common stock during the second quarter of 2015.  The $1.55 million increase in net loss was primarily due to a non-cash ceiling test impairment of $1.4 million recorded in the second quarter of 2016 as a result of the low oil prices experienced during 2015 and 2016, and a $617,000 decrease in revenues, partially offset by a $390,000 decrease in DD&A, a $133,000 decrease in general and administrative cost, and a $50,000 decrease in production cost and taxes. Net loss before effect of impairment was $182,000 for the quarter ended June 30, 2016 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The Company recognized $1.3 million in revenues during the second quarter of 2016 compared to $1.9 million during the second quarter of 2015. The revenue decrease from 2015 levels was primarily due to a $313,000 decrease related to a $11.33 per barrel decrease in the average oil price from an average price of $51.19 per barrel during second quarter of 2015 compared to an average price of $39.86 per barrel during the second quarter of 2016, and a $326,000 decrease related to a 6.4 MBbl decrease in sales volumes, primarily from the Albers, Croffoot, DeYoung, Howard A, Liebenau, McElhaney A, Rogers, Stahl, JR Thyfault, Veverka B and C leases. In addition, there was a $24,000 increase in methane facility revenues related to higher runtimes and increased efficiency.

The Company reported a net loss of $3.0 million or $0.50 per share of common stock during the first six months of 2016 compared to a net loss of $591,000 or $0.10 per share of common stock during the first six months of 2015. The $2.44 million decrease in net income was primarily due to recording a non-cash ceiling test impairment of $2.1 million together with a $1.3 million decrease in revenues, partially offset by a $413,000 decrease in production cost and taxes, a $186,000 decrease in general and administrative cost, and a $786,000 decrease in DD&A. Net loss before effect of impairment was $945,000 for the six months ended June 30, 2016 (a non-GAAP financial measure – see GAAP to Non-GAAP Reconciliation at the end of this press release).

The Company recognized $2.2 million in revenues during the first six months of 2016 compared to $3.5 million during the first six months of 2015. The revenue decrease from 2015 levels was due to a $716,000 decrease related to a $12.90 per barrel decrease in the average oil price from an average price of $46.64 per barrel during first six months of 2015 compared to an average price of $33.75per barrel during the first six months of 2016, and a $658,000 decrease related to a 14.1 MBbl decrease in oil sales volumes.

Michael J. Rugen, CEO, said, “During the second quarter of 2016, the Company initiated the interpretation of the seismic shoot over our Saline County, Kansas acreage. Any drilling of locations that may result from this interpretation will be contingent on improvement of commodity prices.  In addition, the Company continues to evaluate acquisition, joint venture, and corporate opportunities that will add value to the Company. Although we continue evaluating several opportunities, no agreements have been entered into by the Company to move forward with any of the opportunities currently under evaluation. In order to fund potential drilling as well as other possible transactions, the Company is considering additional means of raising capital during this period of low commodity prices and the resulting difficulty faced by most oil and gas companies in obtaining additional borrowed funds in the current financial markets.

During the second quarter 2016 we continued to see realized oil prices remain at low historical levels per barrel.  Current price levels still make it a challenge for the Company to regain profitability.  During the first and second quarters of 2016, the Company recorded non-cash ceiling test impairments due to continuing low oil prices. This is the fourth quarter in a row that an impairment has been recorded. The Company also expects to record an impairment during the third quarter of 2016 as it appears that prices during the third quarter of 2016 will be lower than prices realized during the third quarter of 2015. We will continue to determine if there are additional ways for the Company to reduce G&A and operating costs.”

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.

GAAP to Non-GAAP Reconciliation ($ millions)

	Quarter Ended			Six Months Ended
	June 30, 2016			June 30, 2016
Net loss from continuing operations (US GAAP)	$	(1.6	)	$	(3.0	)
Impairment	$	1.4		$	2.1
Net loss before effect of impairment	$	(0.2	)	$	(0.9	)

SOURCE Tengasco, Inc.