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<SEC-DOCUMENT>0001001614-05-000046.txt : 20050824
<SEC-HEADER>0001001614-05-000046.hdr.sgml : 20050824
<ACCEPTANCE-DATETIME>20050824125857
ACCESSION NUMBER:		0001001614-05-000046
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20050823
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050824
DATE AS OF CHANGE:		20050824

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:		051045486

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>prefered_8kaugust24.htm
<DESCRIPTION>8-K
<TEXT>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES </FONT></H1>

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

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

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

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<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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<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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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>August 18, 2005 </FONT></H1>

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

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








<TABLE width= 100% BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH><u>Tennessee </u>   </TH>
     <TH></TH>
     <TH><u>87-0267438</u></TH></TR>
<TR VALIGN="TOP">
     <TD align=center>(State or other jurisdiction of<br>incorporation or organization) </TD>
     <TD></TD>
     <TD align=center>(I.R.S. Employer Identification No.)</TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
</TABLE>






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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>10215 Technology
Drive N.W., Suite 301, Knoxville, Tennessee 37932 </U></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address of Principal
Executive Office </FONT></P>







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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>(865) 675-1554</u><br>(Registrant&#146;s Telephone number) </FONT></P>
<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<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): </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] 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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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.</FONT></H1>





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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.02 Unregistered
Sales of Equity Securities. </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 August
1, 2005, the Company made an offer to all the holders of its Series B 8% and Series 6%
Cumulative Convertible Preferred Stock (the &#147;Series B and Series C shares&#148;) to
exchange their Series B and C Shares for either a cash payment or shares of the
Company&#146;s common stock, $.001 par value. The cash option provided a payment equal to
66.7% of the aggregate face value of the holders Series B and C Shares together with any
accrued unpaid dividends and interest thereon. The share exchange option provided for four
shares of the Company&#146;s common stock to be issued for each dollar of the face value,
dividends, and interest of the holders&#146; Series B and C shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August 22, 2005, the Company accepted subscription agreements tendered by holders of all
of the Company&#146;s Series B and C shares having a total aggregate face value together
with accrued unpaid dividends and interest thereon of $5,113,045.39 exchanging of all
their rights under their Series B and C shares for either cash or for shares of the
Company&#146;s common stock. As a result of the exchange, as of August 22, 2005 there are
no longer any holders of the Series B and C Shares and the Company no longer has any
further obligations with respect to those shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of approximately 54.3 % of the face value of outstanding Series B and C shares selected
the cash payment option, exchanging preferred shares having an aggregate value of
$2,721,140.39 for cash payments totaling $1,814,184.30. The Company obtained the funds for
this exchange primarily from proceeds of a loan of $1,814,000 from Dolphin Offshore
Partners, L.P. (&#147;Dolphin&#148;), the Company&#146;s largest holder of common stock
and the managing partner of which is Peter E. Salas, the Chairman of the Company&#146;s
Board of Directors. The loan from Dolphin was evidenced by a promissory note secured by a
lien on the Company&#146;s assets and bearing 12% interest per annum payable interest only
monthly until the principal amount of the note becomes due on December 31, 2005. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
of the holders of the remaining aggregate value of $2,391,905 or 55.7% of the Series B and
C shares, including Dolphin, selected the share exchange option, and as a result a total
of 9,567,620 shares of the Company&#146;s common stock will be issued to those holders. Of
this total number, 4,595,040 shares of unregistered common stock are to be issued to
Dolphin in exchange for the $1,148,760 in aggregate value for all of the Series B shares
held by Dolphin. The shares of common stock will be issued to all holders selecting this
exchange option following the approval by the American Stock Exchange of the
Company&#146;s additional listing application for those shares that is pending upon the
date of this filing. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>


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<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
August 18, 2005 the Company&#146;s Board of Directors adopted a resolution authorizing the extension of a
promissory note dated May 19, 2005 made by the Company to Dolphin, the current principal
balance of which is $700,000. By an amended and restated note dated August 18, 2005, the
due date of note was extended on the same terms as the existing note from August 20, 2005
to December 31, 2005. </FONT></P>

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

10.1     Promissory Note dated August 22, 2005 from Tengasco, Inc. To Dolphin Offshore
         Partners, L.P. in the principal amount of $1,814,000.

10.2     Amended and Restated Promissory Note dated August 18, 2005 from Tengasco, Inc. To
         Dolphin Offshore Partners, L.P. in the principal amount of $700,000.


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1 Press Release dated
August 24, 2005 </FONT></P>

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<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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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: August 24, 2005 </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tengasco,
Inc.</FONT></P>


<TABLE align=center BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH></TH>
     <TH></TH>
     <TH></TH></TR>
<TR VALIGN="TOP">
     <TD>By: <u>s/Jeffery R. Bailey</u><br>Jeffrey R. Bailey,<br> President </TD>
     <TD></TD>
     <TD></TD></TR>
<TR VALIGN="TOP">
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
</TABLE>










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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>


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<TYPE>EX-99
<SEQUENCE>2
<FILENAME>pressreleaseaug24final.htm
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FOR IMMEDIATE RELEASE </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tengasco Announces
Exchange of Series B and C Preferred Stock and Extension of Note </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>KNOXVILLE, Tenn., August 24, 2005
&#151; Tengasco, Inc. (AMEX: TGC) announced today that all holders of the Company&#146;s
Series B and C Cumulative Convertible Preferred Stock (the &#147;Series B and Series C
shares&#148;) having a total aggregate value of $5,113,045.39 consisting of face value,
dividends, and interest have exchanged all rights under their Series B and C shares for
cash or for the Company&#146;s common stock. As a result of the exchange, as of August 22,
2005 the Company no longer has any holders of Series B or C preferred stock and no further
obligations under any Series B and C shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Management states that on August 1,
2005, a choice of four options was given to all Series B and C shareholders. One option
offered was to exchange Series B and C shares for a cash amount equal to 66.67% of the
face value together with any unpaid accrued dividends and interest on those shares Subject
to the anticipated receipt of a signed agreement from one holder holding $100,000 or 2.4%
of face value, holders of approximately 54.3% of the face value of outstanding Series B
and C shares selected this option, exchanging preferred shares having an aggregate value
of $2,721,140.39 for cash payments totaling $1,814,184.30. Holders of approximately 54.3 % of the face value of outstanding Series B and C shares selected this option, exchanging
preferred shares having an aggregate value of $2,721,140.39 for cash payments totaling
$1,814,184.30. The Company obtained the funds for this exchange primarily from proceeds of
a loan of $1,814,000 from Dolphin Offshore Partners, L.P. (&#147;Dolphin&#148;) the
Company&#146;s largest shareholder and whose managing partner is Peter E. Salas, the
Chairman of the Company&#146;s Board of Directors. The loan from Dolphin was evidenced by
a promissory note secured by a lien on the Company&#146;s assets and bearing 12% interest
per annum payable interest only monthly until the principal amount of the note becomes due
on December 31, 2005. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A second option offered to the Series
B and C holders was to exchange their Series B and C shares for four shares of the
Company&#146;s common stock for each dollar of the face value and unpaid accrued dividends
and interest on their Series B and C shares. All of the holders, including Dolphin, of the
remaining aggregate value of $2,391,905 or 55.7% of the Series B and C shares selected
this option. As a result, a total of 9,567,620 shares of the Company&#146;s common stock
will be issued to those holders. Of this total number, 4,595,040 shares of unregistered
common stock are to be issued to Dolphin in exchange for the $1,148,760 in aggregate value
of the Series B shares held by Dolphin. The shares of common stock will be issued to all
holders selecting this exchange option following the approval by the American Stock
Exchange of the Company&#146;s pending additional listing application for those shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Series B and C holders were
offered a third and fourth option: to exchange Series B and C shares for up to twelve unit
interests in a program to drill twelve oil wells in Kansas on properties leased by the
Company; or, to make no exchange and retain their Series B or C shares. No Series B or C
holder elected either of these two options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company also announced today that
on August 18, 2005 the Board of Directors adopted a resolution authorizing the extension
of promissory note dated May 19, 2005 made by the Company to Dolphin, the principal
balance of which is $700,000. By an amended and restated note dated August 18, 2005, the
due date of the note was extended on the same terms as the existing note from August 20,
2005 to December 31, 2005. 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.<br><br>Contact- Jeffrey R. Bailey, President 865-675-1554 </FONT></P>




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<TYPE>EX-10
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<FILENAME>finalnoteaug22.htm
<DESCRIPTION>EXHIBIT 10.1
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<H1 ALIGN="CENTER"><FONT SIZE="2" FACE="Times New Roman, Times, Serif">PROMISSORY NOTE </FONT></H1>




<P ALIGN="left"><FONT SIZE="2" FACE="Times New Roman, Times, Serif">$1,814,000 </FONT></P>


<P ALIGN="RIGHT"><FONT SIZE="2" FACE="Times New Roman, Times, Serif">Knoxville, Tennessee<br>August 22, 2005 </FONT></P>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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 ONE MILLION EIGHT HUNDRED AND FOURTEEN THOUSAND DOLLARS
($1,814,000) (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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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 monthly on the first day of each month. The entire
unpaid Principal and any accumulated unpaid Interest thereon shall be due (the &#147;Due
Date&#148;) on December 31, 2005. </FONT></P>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


     <P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>



<br>



<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0">

<TR VALIGN="TOP">
     <TD>TENGASCO, INC.<br><br>By: <u>s/ Jeffrey R. Bailey</u><br>JEFFREY R. BAILEY, President</TD>
     <TD></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>
     <TD></TD></TR> </TABLE>






<HR NOSHADE COLOR="GRAY" SIZE="5">


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">
<b>EXHIBIT&nbsp;A to PROMISSORY NOTE Dated August 22, 2005 between Tengasco,
Inc. and Tengasco Pipeline Corporation as Maker and Dolphin Offshore Partners, LP
as Holder. </b></FONT></P>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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>


<P><FONT SIZE="2" FACE="Times New Roman, Times, Serif">&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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<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>amendedrestatednote700.htm
<DESCRIPTION>10.02 AMENDED AND RESTATED PROMISSORY NOTE
<TEXT>
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<H1 ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>AMENDED AND RESTATED
PROMISSORY NOTE </FONT></H1>


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<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$700,000</FONT></P>

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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Knoxville, Tennessee<br>August 18, 2005 </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 monthly on the first day of each month. The entire
unpaid Principal and any accumulated unpaid Interest thereon shall be due (the &#147;Due
Date&#148;) on December 31, 2005. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>REPLACEMENT
AND EXTENSION OF ORIGINAL NOTE. This Amendment and Restatement of Promissory Note is
issued in replacement for the total of the principal amount remaining unpaid under that
certain Promissory Note issued by the Maker hereof dated May 19, 2005 payable to the
Holder in the original face amount of $700,000 (the&#148;Original Note&#148;). This
Amendment and Restatement is also issued in extension of the due date of the Original Note
to December 31, 2005. The indebtedness of the Maker to the Holder evidenced by the
Original Note is continuing indebtedness and nothing herein shall be deemed to constitute
a novation of the Original Note 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
Note as of the date hereof. All principal amounts outstanding as of the date hereof under
the Original Note shall be transferred to, and be deemed to be outstanding under, this
Amended and Restated Promissory Note.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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="Workstation" -->
     <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="Workstation" -->
<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="Workstation" -->
<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="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
     <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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<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>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>




<TABLE align=center BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH></TH>
     <TH></TH>
     <TH></TH></TR>
<TR VALIGN="TOP">
     <TD>TENGASCO, INC.<br><br>By:<u>s/JEFFREY R. BAILEY</u><br>Jeffrey R. Bailey, President</TD>
     <TD></TD>
     <TD></TD></TR>
<TR VALIGN="TOP">
     <TD><br><br>TENGASCO PIPELINE CORPORATION<br><br>By: s/<u>Robert M. Carter</u><br>Robert M. Carter,  President</TD>
     <TD></TD>
     <TD></TD></TR>
</TABLE>












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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<b>EXHIBIT&nbsp;A  to AMENDMENT AND RESTATEMENT OF PROMISSORY NOTES Dated August 18, 2005 between Tengasco,
Inc. and Tengasco Pipeline Corporation as Maker and Dolphin Offshore Partners, LP
as Holder.</b></FONT></P>
<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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