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<SEC-DOCUMENT>0001001614-05-000022.txt : 20050523
<SEC-HEADER>0001001614-05-000022.hdr.sgml : 20050523
<ACCEPTANCE-DATETIME>20050523152302
ACCESSION NUMBER:		0001001614-05-000022
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20050519
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050523
DATE AS OF CHANGE:		20050523

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:		05851072

	BUSINESS ADDRESS:	
		STREET 1:		603 MAIN AVE
		STREET 2:		SUITE 500
		CITY:			KNOXVILLE
		STATE:			TN
		ZIP:			37902
		BUSINESS PHONE:		4235231124

	MAIL ADDRESS:	
		STREET 1:		630 MAIN AVENUE
		STREET 2:		SUITE 500
		CITY:			KNOXVILLE
		STATE:			TN
		ZIP:			37902
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>may23eightkfinal.htm
<DESCRIPTION>EIGHT K
<TEXT>

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<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES </FONT></H1>

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<A NAME=A002></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES and
EXCHANGE COMMISSION </FONT></H1>

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<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></H1>

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<A NAME=A004></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></H1>

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<A NAME=A005></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Current Report
Pursuant to Section 13 or 15(d) of theSecurities <BR>Exchange Act of 1934 </FONT></H1>

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<A NAME=A006></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date
of Earliest Event Reported): </FONT></H1>

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<A NAME=A007></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>May 19, 2005 </FONT></H1>

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<A NAME=A008></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Tengasco, Inc.(Exact
<BR>Name of Registrant as specified in its charter) </U></FONT></P>

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<A NAME=A009></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Commission File Number
0-20975 </FONT></P>

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<A NAME=A010></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;
</I></FONT></P>










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<TR align = center VALIGN="BOTTOM">
     <TH><u>Tennessee</u></TH>
     <TH></TH>
     <TH><u>87-0267438</u></TH></TR>
<TR align= center VALIGN="TOP">
     <TD>(State or other jurisdiction of<br>incorporation or organization) </TD>
     <TD></TD>
     <TD>(I.R.S. Employer Identification No.)</TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
</TABLE>





<!-- MARKER FORMAT-SHEET="Head Center Underline-TNR" FSL="Project" -->
<A NAME=A011></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>603 Main Avenue,
Suite 500, Knoxville, Tennessee 37902</u><br>(Address of Principal
Executive Office </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<A NAME=A012></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Center Underline-TNR" FSL="Project" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>(865) 523-1124</u><br>(Registrant&#146;s Telephone number)</FONT></P>













<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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)) </FONT></P>


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<HR SIZE=5 COLOR=GRAY NOSHADE>


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<A NAME=A013></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.03 Amendments to
Articles of Incorporation or Bylaws </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 19, 2005, the Company&#146;s Board of Directors adopted a resolution authorizing the
amendment of section Article III paragraph 6 of the Company&#146;s Bylaws which before
amendment provided that the presence of six (6) directors are necessary at a Board meeting
to establish a quorum, to provide after amendment that a quorum is established when the
number of directors in attendance is more than half of the number of directors then
serving on the Board. </FONT></P>

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<A NAME=A014></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8.01 Other Events </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 19 , 2005, Dolphin Offshore Partners, LP (&#147;Dolphin&#148;), the largest shareholder
of the Company and whose managing partner is Peter E. Salas, the Chairman of the
Company&#146;s Board of Directors, extended the due date on two notes made by the Company
to Dolphin, the present aggregate principal balance of which is $700,000, on the same
terms and conditions as the existing notes for a period of three months from May 20, 2005
to August 20, 2005. </FONT></P>

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<A NAME=A015></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01 Financial
Statements and Exhibits </FONT></H1>

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<A NAME=A016></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) Exhibits </FONT></P>

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<A NAME=A017></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1 Amendment to Bylaws
dated May 19, 2005<br><br>10.1  Amended and Restatement of Promissory Notes dated May 19, 2005 </FONT></P>



<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<A NAME=A018></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1 Press Release dated
May 23, 2005 </FONT></P>

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<A NAME=A019></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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. </FONT></P>

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<A NAME=A020></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: May 23, 2005 </FONT></P>

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<A NAME=A021></A>
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tengasco,
Inc.</FONT></P>






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<TR  VALIGN="BOTTOM">
     <TH></TH>
     <TH></TH></TR>
<TR VALIGN="TOP">
     <TD><br>By: <u>s/Jeffery R. Bailey</u><br>Jeffrey R. Bailey,<br>President</TD>
     <TD></TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD></TR>
</TABLE>





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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3
<SEQUENCE>2
<FILENAME>bylawamendment.htm
<DESCRIPTION>3.1 AMENDEMENT TO BY LAWS
<TEXT>
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<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<A NAME=A001></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

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<A NAME=A002></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>STATEMENT OF AMENDMENT
OF BYLAWS </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Whereas the Board of Directors in
special meeting on May 19, 2005 duly resolved pursuant to authority granted by the laws of
Tennessee to amend the Bylaws of the corporation to provide that at any meeting of the
directors the next whole number that is greater than half of the number of directors then
serving shall constitute a quorum for transaction of business, ARTICLE III, Paragraph 6 of
the Bylaws of Tengasco, Inc. is hereby amended to provide as follows: </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Project" -->
<A NAME=A003></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE
III &#151; BOARD OF DIRECTORS</b></FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Project" -->
<A NAME=A004></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.
Quorum</FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any meeting of the directors the next whole number that is greater than half of the number
of directors then serving shall constitute a quorum for transaction of business, but if
less than said number is present at a meeting, a majority of the directors present may
adjourn the meeting from time to time without further notice. The directors may provide
that quorum requirements may be satisfied by directors present telephonically. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This Statement shall be included with
the Bylaws of the Corporation to reflect the amendment of this provision. In all other
respects, the Bylaws of the Corporation remain in full force and effect. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DATED this the 19<SUP>th</SUP> day of
May, 2005. </FONT></P><br>





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     <TH></TH>
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     <TD><u>s/Cary V. Sorensen</u><br>CARY V. SORENSEN<br>Corporate Secretary<br>Tengasco, Inc.</TD>
     <TD></TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD></TR>
</TABLE>







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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrelease.htm
<DESCRIPTION>99.1 PRESS RELEASE
<TEXT>
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<A NAME=A001></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FOR IMMEDIATE RELEASE </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A002></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tengasco Announces
Extension of Notes and Amendment of Bylaws </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>KNOXVILLE, Tenn., May 23, 2005 &#151;
Tengasco, Inc. (Amex:&nbsp;TGC) announced today that on May 19, 2005, the Company&#146;s
Board of Directors adopted a resolution authorizing the extension of the current principal
balance of two promissory notes made by the Company to Dolphin Offshore Partners, LP, the
largest shareholder of the Company and whose managing partner is Peter E. Salas, the
Chairman of the Company&#146;s Board of Directors.&nbsp; The present aggregate principal
balance of the two notes is $700,000, the payment of which was extended on the same terms
and conditions as the existing notes for a period of three months from May 20, 2005 to
August 20, 2005 by amended and restatement of promissory notes dated May 19, 2005. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company also announced that on
May 19, 2005 the Board amended Article III, paragraph 6 of the Company&#146;s Bylaws which
before amendment provided that the presence of six directors established a quorum, to
provide after amendment that a quorum is established when the number of directors in
attendance is more than half of the number of directors then serving on the Board. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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&#146;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&#146;s filings with the Securities
and Exchange Commission. </FONT></P>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>promnoteexhibit.htm
<DESCRIPTION>EXHIBIT 10.1 AMENDED PROMMISSORY NOTE
<TEXT>
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<A NAME=A001></A>
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b><u>AMENDED
AND RESTATEMENT OF PROMISSORY NOTES</u></b></FONT></P>




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     <TH></TH>
     <TH></TH>
     <TH></TH></TR>
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     <TD>$700,000<br>Knoxville, Tennessee<br>May 19, 2005  </TD>
     <TD></TD>
     <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
</TABLE>


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<A NAME=A002></A>
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FOR
VALUE RECEIVED, the undersigned, TENGASCO, INC., a Tennessee corporation and TENGASCO
PIPELINE CORPORATION, a Tennessee corporation (the <B>&#147;Maker&#148;</B> whether one or
more), jointly and severally promise to pay to the order of Dolphin Offshore Partners, LP,
whose address is care of Dolphin Asset Management Corporation, 129 East 17<SUP>th</SUP>
St., New York, N.Y. its successors and/or assigns (said parties and any subsequent holders
hereinafter being collectively called the <B>&#147;Holder&#148;</B> at 129 East
17<SUP>th</SUP> St., New York, N.Y (or at such other place as the Holder hereof may
designate) the principal sum of SEVEN HUNDRED THOUSAND DOLLARS ($700,000), (the
&#147;Principal&#148;), plus interest (the &#147;Interest&#148;) at the rate set forth
below on the Principal from time to time remaining unpaid. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
on the outstanding Principal balance shall accrue at a rate of twelve percent (12%) per
annum based upon a 360-day year. Interest on the unpaid principal balance shall accrue
from date hereof and shall be payable forty-five days after the end of each calendar
quarter. The entire unpaid Principal and any accumulated unpaid Interest thereon shall be
due (the &#147;Due Date&#148;) on August 20, 2005. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>REPLACEMENT
AND EXTENSION OF ORIGINAL NOTES. This Amendment and Restatement of Promissory Notes is
issued in replacement for the total of the principal amounts remaining unpaid under both
of those two certain Promissory Notes issued by the Maker hereof dated May 18, 2004 and
December 30, 2004 payable to the Holder, in the respective original face amounts of
$2,500,000.00 and $550,000.00 respectively (the &#147;Original Notes&#148;). This
Amendment and Restatement is also issued in extension of the due dates of the Original
Notes to August 20, 2005. The indebtedness of the Maker to the Holder evidenced by the
Original Notes is continuing indebtedness and nothing herein shall be deemed to constitute
a novation of the Original Notes or as a release or to otherwise adversely affect any
rights of Holder against the Maker as to the principal remaining unpaid under the Original
Notes as of the date hereof. All principal amounts outstanding as of the date hereof under
the Original Notes shall be transferred to, and be deemed to be outstanding under, this
Amended and Restated Promissory Note.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Note is secured by a lien on following property wherever located and whether now/owned or
hereafter owned or acquired by Maker, whether or not affixed to realty, and all Proceeds
and Products thereof in any form, and all parts, accessories, attachments, special tools,
additions, replacements, substitutions and accessions thereto or therefor and in all
increases or profits received therefrom (Collateral): all of Maker&#146;s interest, either
real or personal, tangible or intangible; in that certain undivided interest in pipeline
facilities owned by the Company and described in Exhibit&nbsp;A attached hereto and
incorporated herein by reference. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Note is a Note referred to in the Continuing Security Agreement dated December 3, 2003
between Maker and Holder, and is entitled to the benefits and subject to the terms thereof
and may be prepaid in whole or in part and secured by the collateral as provided therein. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Default</U>. The happening of any of the following events shall constitute an
          event of default hereunder: failure of Maker to pay in full any Principal
          payment or Interest Payment due hereunder promptly when it becomes due; the
          occurrence of any one or more of the Events of Default specified in the Security
          Agreement or the Maker becoming bankrupt, insolvent or if any bankruptcy
          (voluntary or involuntary) or insolvency proceedings (as said terms
          &#147;insolvent&#148; and &#147;insolvency proceedings&#148; are defined in the
          Uniform Commercial Code of Tennessee) are instituted or made by or against
          Maker, or if application is made for the appointment for a receiver for the
          Maker or for any of the assets of any Maker, or as assignment is made for the
          benefit of the Maker&#146;s creditors. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the happening of any event of default as defined herein, the Holder, at its option, may
declare the entire unpaid Principal balance of this Promissory Note without notice or
demand, together with accrued Interest, to be immediately due and payable without notice
or demand. In the event of default, the then unpaid principal balance hereof shall bear
interest from the time of such default at the maximum legal rate permissible. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to payment of Interest and Principal, if there is a default in this Note, the
Holder shall be entitled to recover from the Maker all the Holder&#146;s costs of
collection, including the Holder&#146;s attorneys&#146; fees (whether incurred in
connection with any judicial, bankruptcy, reorganization, administrative, appeals or other
proceedings and whether such fees or expenses arise before proceedings are commenced or
after entry of any judgment), and all other costs or expenses incurred in connection
therewith. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Waiver</U>. With respect to the payment hereof, the Maker waives all rights
          of exemption of property from levy or sale under execution or the process for
          the collection of debts under the Constitution or laws of the United States or
          of any state thereof, and demand, presentment, protest, notice of dishonor, suit
          against any party, and all other requirements necessary to charge or hold any
          Maker liable hereunder. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
failure or delay on the part of the Holder in exercising any right, power or remedy
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to the Maker or the
Holder at law, in equity or otherwise. Any amendment, supplement or modification of or to
any provision of this Note, any waiver of any provision of this Note and any consent to
any departure by the Maker from the terms of any provision of this Note, shall be
effective (i) only if it is made or given in writing and signed by the Maker and the
Holder of this Note and (ii) only in the specific instance and for the specific purpose
for which made or given. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Fees and Costs</U>. The Maker agrees to pay all filing fees and taxes, and
          all costs of collection or securing or attempting to collect or secure the
          payment thereof, including attorneys&#146; fees, whether or not involving
          litigation and/or appellate proceedings. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Remedies</U>. The Holder shall not by any act, delay, omission or otherwise
          be deemed to have waived any of its rights or remedies, and no waiver of any
          kind shall be valid, unless in writing and signed by the Holder. All rights and
          remedies of the Holder shall be cumulative. Furthermore, the Holder shall be
          entitled to all the rights of a Holder in due course of a negotiable instrument.
          In the event of default, Holder shall have all remedies available to a secured
          party under the Uniform Commercial Code. Holder shall give Maker ten business
          days notice in writing of any public or private sale of the property securing
          this note. Holder shall incur no liability as a result of the sale of the
          property securing this note, other than for its own negligence, willful
          misconduct, or bad faith. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Warranty of Title</U>. The seller warrants that the Maker&#146;s title to the
          property is free of any encumbrance. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Governing Law</U>. This Note shall be governed by and construed in accordance
          with the laws of the State of New York. Any provision of this Note that may be
          unenforceable or invalid under any law shall be ineffective to the extent of
          such unenforceability or invalidity without affecting the enforceability or
          validity of any other provision hereof. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Notice</U>. Any notice required to be given to any person shall be deemed
          sufficient if mailed, postage prepaid, to such person&#146;s address as set
          forth in this Note. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Successors and Assigns</U>. The provisions of this Note are binding on the
          assigns and successors of Maker and shall inure to the benefit of the Holder and
          its successors and assigns. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Collection</U>. If this Note is not paid upon demand or according to the
          tenor hereof and strictly as above provided, it may be placed in the hands of an
          attorney at law for collection. In such event, each party liable for payment
          thereof, as Maker, endorser, guarantor or otherwise, hereby agrees to pay the
          holder hereof, in addition to the sums above stated, a reasonable
          attorneys&#146; fee, whether or not suit be initiated, which fee shall include
          attorneys&#146; fees at the trial level and on appeal, together with all costs
          incurred. IN THE EVENT THAT LITIGATION IS INITIATED FOR THE COLLECTION OF THE
          OBLIGATION EVIDENCED BY THIS NOTE, THEN MAKER HEREBY WAIVES ANY RIGHT TO TRIAL
          BY JURY REGARDING THIS NOTE AND ANY AGREEMENT OR INSTRUMENT SECURING SAME, AND
          THE PREVAILING PARTY IN SUCH LITIGATION SHALL BE ENTITLED TO AN AWARD FOR COSTS
          AND REASONABLE ATTORNEYS&#146; FEES INCURRED IN THE LITIGATION, INCLUDING ALL
          TRIALS AND APPEALS RELATING THERETO. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Maker hereby irrevocably consents and submits to the exclusive jurisdiction of the United
States federal courts and the courts of the State of New&nbsp;York located in
New&nbsp;York, New&nbsp;York, in connection with any action or proceeding arising out of
or relating to this Note or any document or instrument delivered pursuant hereto. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of any action that may be brought to enforce this Note, the Maker agrees that
this Note constitutes an instrument for the payment of money only within the meaning of
Section&nbsp;3213 of the Civil Practice Law and Rules of the State of New&nbsp;York. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary, in no event, whether by reason of advancement of the proceeds
hereof, acceleration of maturity of the unpaid balance hereof, or otherwise, shall the
amount taken, reserved or paid, charged or agreed to be paid, for the use, forbearance or
detention of money advanced pursuant hereto or pursuant to any other document executed in
connection herewith, exceed the maximum rate allowed by New York law. If any one or more
of the provisions contained herein, or the application thereof in any circumstance, is
held invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any other provisions hereof shall not be in any way
impaired, unless the provisions held invalid, illegal or unenforceable shall substantially
impair the benefits of the remaining provisions hereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Maker shall execute such documents and perform such further acts (including, without
limitation, obtaining any consents, exemptions, authorizations or other actions by, or
giving any notices to, or making any filings with, any governmental authority or any other
person) as may be reasonably required or appropriate to carry out or to perform the
provisions of this Note. </FONT></P>

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     <TD>TENGASCO, INC. <br><br>By:<u>s/Jeffrey R. Bailey</u><br>JEFFREY R. BAILEY, President  </TD>
     <TD></TD></TR>
<TR  VALIGN="TOP">
     <TD><br>TENGASCO PIPELINE CORPORATION<br><br>By:<u> s/ Robert M. Carter</u><br>ROBERT M. CARTER, President</TD>
     <TD></TD></TR>
</TABLE>












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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>EXHIBIT&nbsp;A</b> </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>
to AMENDMENT AND RESTATEMENT OF PROMISSORY NOTES Dated May 19, 2005 between Tengasco, Inc.
and Tengasco Pipeline Corporation as Maker and Dolphin Offshore Partners, LP as
Holder.</B> </FONT></TD>
</TR>
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<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
and all undivided interest in and to Tengasco Pipeline Corporation&#146;s right, title,
and interest in, to the following property rights-of-way, leases (other than the right to
produce oil or gas under any lease granting pipeline installation and use rights) and/or
easements located in Hancock County, Hawkins County, and Sullivan County, Tennessee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[PHASE
I]: That certain steel pipeline main, 6 inches and 8 inches in diameter, as it has been
installed, together with all associated permits, pipeline rights-of-way, and pipeline
installation rights under oil and gas leases (but excluding any rights to produce oil and
gas leases under any oil and gas lease granting such pipeline installation rights), from a
point at the Big Creek Missionary Baptist Church at the intersection of Upper Caney Valley
Road and Big Creek Road in Hancock County, Tennessee, extending generally eastward north
of the Clinch River, boring under the Clinch River and proceeding generally southward
along an existing Tennessee Valley Authority power line easement along and within
rights-of-way thereon, which are incorporated by reference for all purposes but without
limiting the generality of the foregoing description, proceeding further into Hawkins
County, Tennessee, to a point of intersection of the existing installed pipeline with the
distribution system of Hawkins County Gas Utility District, a total distance described in
this paragraph of approximately 26.0 miles; together with </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[PHASE
II]: That certain steel pipeline main 8 inches and 12 inches in diameter as it has been
installed, together with a 4-inch supply line already constructed, with all associated
contracts, permits, agreements, and pipeline rights-of-way, extending from a point of
intersection of the existing installed Phase I pipeline described above with the
distribution system of Hawkins County Gas Utility District and proceeding from that point
generally eastward along rights-of-way along Highway 11-W, and proceeding further along
and within the right-of-way of Highway 11W in accordance with the permit granted by
Tennessee Department of Transportation to Tengasco Pipeline Corporation dated April 11,
2000, and proceeding generally eastwards to a point located on the grounds of Holston Army
Ammunition Plant in accordance with the Tenant Use Agreement between Royal Ordinance North
America, Inc. (now BAE Systems Ordnance Systems, Inc.) and Tengasco Pipeline Corporation
dated June 16, 2000, which agreement is incorporated by reference for all purposes,
proceeding to a point on the grounds of the Holston Army Ammunition Plant known as Mead
Station, proceeding from that point further both as a 4-inch supply line to Holston Area A
and ending at the Area A boilers and as a 12-inch main line generally southward, off the
grounds of Holston Army Ammunition Plant and across rights-of-way to and including
property owned by Eastman Chemical Company, and proceeding to the point of interconnection
with the existing natural gas system owned by Eastman Chemical Company in Kingsport,
Sullivan County, Tennessee, a total distance described in this paragraph of approximately
30.4 miles, together with compressors, valves, stations and metering equipment installed
to effect deliveries through the pipeline . </FONT></P>
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