<DOCUMENT>
<TYPE>EX-14
<SEQUENCE>3
<FILENAME>c31674_ex-14.txt
<TEXT>
Exhibit 14

                                                                  March 11, 2004



                                 TENGASCO, INC.

                                 CODE OF ETHICS

Tengasco,  Inc. (the "Company") has adopted this Code of Ethics specifically for
its chief executive  officer  ("CEO") and all financial  officers and executives
(collectively, the "Financial Officers and Executives"), including the president
and chief financial  officer.  The Financial  Officers and Executives subject to
this Code of Ethics will be designated  and informed of such  designation by the
Company.

The CEO and the financial  officers and  executives are subject to the following
specific policies:

      1.  In carrying out their duties,  the CEO and the Financial  Officers and
          Executives   will   promote   full,   fair,   accurate,   timely   and
          understandable  disclosure  in all  reports  and other  documents  the
          Company files with,  or furnishes or submits,  to the  Securities  and
          Exchange  Commission,  as well as other public  communications made by
          the  Company.  Accordingly,  the CEO and each  Financial  Officer  and
          Executive  shall  promptly  bring  to the  attention  of the  Board of
          Directors any material information of which she or he may become aware
          that  affects  the  disclosures  made  by the  Company  in the  public
          filings, if such information is not already being adequately addressed
          in public filings being prepared for the Company.

      2.  The CEO and each Financial  Officer and Executive shall promptly bring
          to the attention of the Board of Directors any  information  she or he
          may have  concerning  (a)  significant  deficiencies  in the design or
          operation  of  internal  controls  which  could  adversely  affect the
          Company's ability to record,  process,  summarize and report financial
          data  or (b)  any  fraud,  whether  or  not  material,  that  involves
          management  or  other  employees  who have a  significant  role in the
          Company's financial reporting, disclosures or internal controls.

      3.  In carrying out their duties,  the CEO and each Financial  Officer and
          Executive  shall  endeavor  to  comply,  and to cause the  Company  to
          comply, with all applicable governmental laws, rules and regulations.

      4.  The Board of  Directors  shall  determine,  or  designate  appropriate
          persons to determine,  appropriate actions to be taken in the event of
          violations of the Code of Ethics by the CEO or any  Financial  Officer
          or  Executive.  Such  actions  shall be  reasonably  designed to deter
          wrongdoing and to promote  accountability for adherence to the Code of
          Ethics.  The Company shall at least annually report violations and the
          actions taken by the Board of Directors.

</TEXT>
</DOCUMENT>
