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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001001614-09-000033.txt : 20090803
<SEC-HEADER>0001001614-09-000033.hdr.sgml : 20090801
<ACCEPTANCE-DATETIME>20090803112341
ACCESSION NUMBER:		0001001614-09-000033
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090728
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090803
DATE AS OF CHANGE:		20090803

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:		09979215

	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>hedging.htm
<DESCRIPTION>HEDGING AGREEMENT
<TEXT>
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        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; FONT-SIZE: 12pt" align="left"><b><font style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp; UNITED STATES</font></b></p>

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

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="left"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b> <b><u>July 28, 2009</u></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commission File Number <u>0-20975</u></p>

        <p></p>

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

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

        <p></p>

        <p style="MARGIN-TOP: 5pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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 style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="left"><b>Item 8.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Events</b></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
        On July 28, 2009, the Company entered into a two year hedging agreement (the &ldquo;Agreement&rdquo;) effective August 1, 2009 on crude oil pricing with Macquarie Bank Limited. The Agreement provides for a $60.00 price per barrel floor and a ceiling of $81.50 per barrel on volumes of 9,500 barrels per month during the period August 1, 2009 through December 31, 2010 and 7,375 barrels per month from January 1, 2011 through July 31, 2011 (the &ldquo;Hedged Volumes&rdquo;). The
        Company&rsquo;s current average oil production is approximately 15,000 barrels per month. The Company does not pay a fee under the Agreement.<br>
        &nbsp;<br>
        The Agreement is intended to protect the Company in the event that oil prices return to the low levels of crude oil pricing experienced in late 2008 and early 2009 when crude oil prices fell to the $30.00 per barrel range. If crude oil prices remain between the floor and ceiling prices no activity will occur under the Agreement. However, pursuant to the terms of the Agreement if the price of crude oil falls below $60.00 per barrel during the term of the Agreement, the Company will still
        receive the price of $60.00 per barrel on the Hedged Volumes of the Company&rsquo;s oil production. Conversely, if the price of crude oil rises above $81.50 during the term of the Agreement the Company will receive such increased prices in excess of $81.50 per barrel only on the Company&rsquo;s oil production in excess of the Hedged Volumes.<br>
        &nbsp;<br>
        To effectuate the hedging arrangement, the Company and its subsidiaries, Macquaire Bank Limited and the Company&rsquo;s senior lender, Sovereign Bank entered into an International Swaps and Derivatives Master Agreement and intercreditor agreement.<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: -72px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1in" align="left"><b>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b></p>

        <p></p>

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: -36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="left">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated August 3, 2009</p>

        <p></p>

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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: August 3, 2009<br>
        &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; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p></p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>pressrelease.htm
<DESCRIPTION>99.1 PRESS RELEASE DATED AUG. 3
<TEXT>
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        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">FOR IMMEDIATE RELEASE</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 0px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><b><font style="FONT-SIZE: 14pt">Tengasco Enters Crude Oil Hedging Agreement </font></b></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">KNOXVILLE, Tenn., August 3, 2009 -- Tengasco, Inc. (NYSE Amex: TGC) announced that on July 28, 2009 the Company entered into a two-year price hedging agreement effective August 1, 2009 in the form of a costless collar applicable to a portion of the Company&rsquo;s crude oil production volumes. </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'; FONT-SIZE: 14pt">The hedge agreement has a</font> <font style="FONT-SIZE: 14pt">$60</font> <font style="FONT-SIZE: 14pt">per barrel</font> <font style="FONT-SIZE: 14pt">floor and $81.50 per barrel cap</font> <font style="FONT-SIZE: 14pt">on a notional volume of 9,500 barrels per month from</font> <font style="FONT-SIZE: 14pt">August 1, 2009
        through December</font> <font style="FONT-SIZE: 14pt">31, 2010 and 7,375</font> <font style="FONT-SIZE: 14pt">barrels per month from January 1 through July 31, 2011. The hedge is based on the West Texas Intermediate price reported by NYMEX, and not the prices actually received for the Company&rsquo;s oil production. </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">The Company entered</font> <font style="FONT-SIZE: 14pt">the hedge agreement with </font><font style="FONT-FAMILY: 'TIMES NEW ROMAN'; FONT-SIZE: 14pt">Macquarie Bank Limited</font><font style="FONT-SIZE: 14pt">, as counterparty</font><font style="FONT-FAMILY: 'TIMES NEW ROMAN'; FONT-SIZE: 14pt">, and Sovereign Bank</font>
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'; FONT-SIZE: 14pt">of Dallas, Texas, the Company&rsquo;s senior lender. </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">Jeffrey R. Bailey, CEO, explained &ldquo;We entered the hedge agreement to protect the Company from the risks of a return to the crude oil prices of late 2008 and early 2009, when crude oil sold for around $30 dollar per barrel. The costless collar provides price support on the hedged volumes when market prices for crude oil fall below $60 per barrel.
        Conversely, we give up the upside potential on the hedged volumes if per-barrel prices exceed $81.50. Entering into this collar arrangement, rather than merely purchasing a put at the lower price, permits the Company to avoid paying cash for the option, which we view as a significant benefit. Our average production is currently about 15,000 barrels per month, so the risks and benefits of the hedge arrangement apply to only about two-thirds of this volume. If low prices return, this
        agreement may help us to maintain production levels of crude oil by enabling us to perform at least some ongoing polymer or other workover treatments on our existing producing wells in Kansas. Our view is that ensuring sufficient cash flow to fund operations is more important in the current environment than maximizing any profit possibilities from potential price improvements.&rdquo; </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><font style="FONT-SIZE: 14pt">The statements contained in this release that are not purely historical are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements regarding &ldquo;expectations,&rdquo; &ldquo;anticipations,&rdquo; &ldquo;intentions,&rdquo; &ldquo;beliefs,&rdquo; or &ldquo;strategies&rdquo; regarding the
        future. Forward-looking statements also include statements regarding revenue, margins, expenses, and earnings analysis for 2009 and thereafter; oil and gas prices; reserve calculation and valuation; exploration activities; development expenditures; costs of regulatory compliance; environmental matters; technological developments; future products or product development; the Company&rsquo;s products and distribution development strategies; potential acquisitions or strategic alliances;
        and liquidity and anticipated cash needs and availability. The Company&rsquo;s actual results could differ materially from the forward-looking statements. </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 36px; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="justify"><b><i><font style="FONT-SIZE: 14pt">Contact: Jeffrey R. Bailey, CEO 865-675-1554</font></i></b></p>
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