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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001001614-08-000039.txt : 20080602
<SEC-HEADER>0001001614-08-000039.hdr.sgml : 20080602
<ACCEPTANCE-DATETIME>20080602083548
ACCESSION NUMBER:		0001001614-08-000039
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080602
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080602
DATE AS OF CHANGE:		20080602

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:		08872386

	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>blackdiamondeightk.htm
<DESCRIPTION>BLACK DIAMOND AQUISITION
<TEXT>
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    <head>
        <title></title>
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        <!-- Rev Number:                                                                      -->
        <!-- Client Name:                                                                     -->
        <!-- Project Name:                                                                    -->
        <!-- Firm Name:                                                                       -->
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    <body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 14pt">UNITED STATES</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <font style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
        <b><font style="FONT-SIZE: 14pt">SECURITIES and EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WASHINGTON, D.C.
        20549</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b> <b><font style="FONT-SIZE: 14pt">FORM
        8-K</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Report Pursuant to Section 13 or 15(d) of the<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities Exchange Act of 1934</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date of Report (Date of Earliest Event Reported):</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 30, 2008</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Tengasco, Inc.</u><br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Exact Name of Registrant as specified in its charter)</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commission File Number 1-15555</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <u>Tennessee</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        <u>87-0267438</u><br>
        (State or other jurisdiction of (I.R.S. Employer Identification No.)<br>
        incorporation or
        organization)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>10215 Technology Drive N.W., Suite 301, Knoxville,
        Tennessee 37932</u><br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of Principal Executive Office</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(865) 675-1554</u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant's Telephone number)</p>

        <p></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        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):<br>
        [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)<br>
        [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)<br>
        [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
        CFR 240.14d-2(b))<br>
        [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
        CFR 240.13e-4(c))<br>
        &nbsp;<br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 1.01 Entry into a Material Definitive Agrement<br>
        &nbsp;</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        On May 30, 2008, the Company signed a letter agreement with Black Diamond Oil, Inc. to
        purchase approximately 80 barrels per day of oil producing properties and related leases
        and equipment in Rooks County, Kansas for $5.35 million effective with gas production
        beginning June 1, 2008. It is anticipated that the closing of the purchase will take place
        on or before July 1, 2008. The assets purchased include producing oil wells and saltwater
        disposal wells, equipment, and the underlying working interests in leases that have been
        owned and operated by Black Diamond for many years.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-
        Balance Sheet Arrangement of a Registrant</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        The Company also announced that on June 2, 2008 it entered into an amendment to its credit
        facility with Sovereign Bank of Dallas, TX whereby the Company&rsquo;s borrowing base is
        being increased by the Bank as a result of its review of the Company&rsquo;s currently
        owned producing properties. The borrowing base is being increased from $7 million to $11
        million effective June 2, 2008. The Company has previously utilized about $4.2 million of
        the Sovereign credit facility, leaving approximately $6.8 million available for use by the
        Company upon this borrowing base increase. The Company will use $5.35 million of its
        available $6.8 million borrowing base for the purchase of the Black Diamond Oil properties
        discussed above.<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 9.01 Financial Statements and Exhibits<br>
        &nbsp;</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(a) FINANCIAL STATEMENTS OF
        BUSINESSES ACQUIRED<br>
        &nbsp;<br>
         The financial statements required by this Item will be filed by amendment<br>
        not later than 71 calendar days after the date that a Report on Form 8-K announcing the
        closing of the agreement referred to in Item 1.01 was due to be filed.<br>
        &nbsp;<br>
         (b) PRO FORMA FINANCIAL INFORMATION<br>
        &nbsp;<br>
         The financial statements required by this Item will be filed by amendment<br>
        not later than 71 calendar days after the date that a Report on Form 8-K announcing the
        closing of the agreement referred to in Item 1.01 was due to be filed.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        The following exhibits are filed herewith:<br>
        &nbsp;<br>
        99.1 press release dated June 2, 2008</p>

        <p></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>SIGNATURES</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &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.<br>
        &nbsp;<br>
        Dated: June 2,
        2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tengasco,
        Inc.<br>
        &nbsp;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:
        <u>s/Jeffrey R. Bailey</u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        Jeffrey R. Bailey,<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        Chief Executive Officer<br>
        &nbsp;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p></p>
    </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>pressrelease.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html>
    <head>
        <title></title>
        <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
        <!-- Control Number:                                                                  -->
        <!-- Rev Number:                                                                      -->
        <!-- Client Name:                                                                     -->
        <!-- Project Name:                                                                    -->
        <!-- Firm Name:                                                                       -->
    </head>

    <body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER'" align="left">
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">FOR IMMEDIATE RELEASE<br>
        <br>
        </font><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Tengasco Announces Purchase of
        Kansas Oil Production and Increase of Borrowing Base under Sovereign Bank Credit Facility
        to $11 million</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">KNOXVILLE, Tenn., June 2, 2008 -- Tengasco,
        Inc. (AMEX: TGC) announced today that on May 30, 2008, the Company signed a letter
        agreement with Black Diamond Oil, Inc. to purchase approximately 80 barrels per day of oil
        producing properties and related leases and equipment in Rooks County, Kansas for $5.35
        million effective on closing. Closing of the purchase is expected to occur on or before
        July 1, 2008. The sale includes the purchase of producing oil wells and saltwater disposal
        wells, equipment, and the underlying working interests in leases that have been owned and
        operated by Black Diamond for many years.<br>
         &nbsp;<br>
         The Company also announced that on June 2, 2008 the Company has entered into an amendment
        to its credit facility with Sovereign Bank of Dallas, Texas whereby the Company&rsquo;s
        borrowing base is being increased by the Bank as a result of its review of the
        Company&rsquo;s currently owned producing properties. The Company&rsquo;s borrowing base is
        being increased from $7 million to $11 million effective June 2, 2008. The Company has
        previously utilized approximately $4.2 million of the facility, leaving approximately $6.8
        million available for use by the Company upon this borrowing base increase. The Company
        will use $5.35 million of the available $6.8 million for the purchase of the Black Diamond
        Oil properties discussed above.<br>
         &nbsp;<br>
         Tengasco&rsquo;s President Jeffrey R. Bailey said &ldquo;We are very pleased to acquire
        these producing properties from Black Diamond which are a good fit with our existing
        properties in Kansas. This will immediately add about 80 barrels per day of production to
        the approximately 600 barrels per day that we currently produce in Kansas. Our view of the
        underlying geology and engineering suggests we may be able to produce increased volumes
        from these wells. We can operate these additional properties with little additional
        personnel or equipment needs which will enable us to maximize the results of our Kansas
        production staff for the benefit of our shareholders. We are also pleased that Sovereign
        Bank has increased our borrowing base to $11 million, which will allow us to purchase these
        properties entirely for the Company&rsquo;s interest and without involvement of third party
        participants. In addition, these new properties have not been considered by the Bank in its
        borrowing base review and may support additional borrowing base increases in the
        future.&rdquo;<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Forward-looking statements made in this
        release are made pursuant to the safe harbor provisions of the Private Securities
        Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements
        involve risk and uncertainties which may cause actual results to differ from anticipated
        results, including risks associated with the timing and development of the Company's
        reserves and projects as well as risks of downturns in economic conditions generally, and
        other risks detailed from time to time in the Company's filings with the Securities and
        Exchange<br>
         Commission.<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <i><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Contact:</font></i></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Tengasco, Inc.<br>
        Jeffrey R. Bailey CEO, 865-675-1554</font></p>
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