<SEC-DOCUMENT>0001140361-20-024157.txt : 20201030
<SEC-HEADER>0001140361-20-024157.hdr.sgml : 20201030
<ACCEPTANCE-DATETIME>20201030063013
ACCESSION NUMBER:		0001140361-20-024157
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201201
FILED AS OF DATE:		20201030
DATE AS OF CHANGE:		20201030
EFFECTIVENESS DATE:		20201030

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:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15555
		FILM NUMBER:		201274645

	BUSINESS ADDRESS:	
		STREET 1:		8000 E. MAPLEWOOD AVENUE
		STREET 2:		SUITE 130
		CITY:			GREENWOOD VILLAGE
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		720-420-4460

	MAIL ADDRESS:	
		STREET 1:		8000 E. MAPLEWOOD AVENUE
		STREET 2:		SUITE 130
		CITY:			GREENWOOD VILLAGE
		STATE:			CO
		ZIP:			80111
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>brhc10016422_def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 18pt; font-weight: bold;">SCHEDULE 14A INFORMATION</div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934</div>
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      <div style="font-family: 'Times New Roman'; font-weight: bold;">Filed by the Registrant &#9746;</div>
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      <div style="font-family: 'Times New Roman'; font-weight: bold;">Filed by a Party other than the Registrant &#9744;</div>
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      <div style="font-family: 'Times New Roman'; font-weight: bold;">Check the Appropriate Box:</div>
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                <div style="text-align: left; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font><font style="font-family: 'Times New Roman';"></font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">Preliminary Proxy Statement</font></div>
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                <div style="text-align: left; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font><font style="font-family: 'Times New Roman';"></font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">Confidential for Use of Commission Only</font></div>
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                <div style="text-align: left; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9746;</font><font style="font-family: 'Times New Roman';"></font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">Definitive Proxy Statement</font></div>
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                <div style="text-align: left; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font><font style="font-family: 'Times New Roman';"></font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">Definitive Additional Materials</font></div>
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                <div style="text-align: left; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font><font style="font-family: 'Times New Roman';"></font></div>
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                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">Soliciting Materials Pursuant to &#167;240.14a-11(c) or &#167;240.14a-12</font></div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 24pt; font-weight: bold;">TENGASCO, INC.</div>
      <div style="font-family: 'Times New Roman';">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">(Name of Registrant as Specified in its Charter)</div>
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      </div>
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        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">(Name of person(s) Filing Proxy Statement if other than Registrant)</div>
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      <div style="font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">Payment of Filing Fee (Check the appropriate box)</div>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9746;</font></div>
              </td>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">No Fee Required</font></div>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font></div>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">$125 per Exchange Act Rules-O-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or Item 22(a)(2) of Schedule 14A.</font></div>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">&#9744;</font></div>
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                <div style="text-align: justify; font-weight: bold;"><font style="font-family: 'Times New Roman';">Fee computed on table below per Exchange Act Rules14A-6(i)(4) and O-11.</font></div>
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      <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">(1) Title of each class of securities to which each transaction applies:</div>
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      </div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">(2) Aggregate number of securities to which transaction applies:</div>
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      </div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule O-11 (Set forth the amount on which the filing
        fee is calculated and state how it was determined):</div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify;"><font style="display: inline-block; text-indent: 0px; width: 36pt; font-family: 'Times New Roman';" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-family: 'Times New Roman'; font-weight: bold;">(4) Proposed maximum
          aggregate value of the transaction:</font></div>
      <div><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman';"><br>
        </font></div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">(5) Total fee paid:</div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">&#9744;</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fee paid previously with preliminary materials.</font></div>
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                <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">&#9744;</div>
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                <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid
                  previously.&#160; Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">(1)</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Amount Previously Paid:</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">(2)</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Form Schedule or Registration No.:</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">(3)</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Filing Party:</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">(4)</font></div>
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Date Filed:</font></div>
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        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">TENGASCO, INC.</div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">8000 E. Maplewood Ave., Suite 130</div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Greenwood Village, Colorado 80111</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON December 1, 2020</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="margin-left: 5.8pt; font-family: 'Times New Roman'; text-align: justify;">TO THE STOCKHOLDERS:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Notice is hereby given that the 2020 annual meeting of stockholders (the &#8220;Annual Meeting&#8221;) of Tengasco, Inc. (the &#8220;Company&#8221;) has been called for and will be held
          in a virtual format&#160; only from the Company&#8217;s headquarters at 8000 E. Maplewood Ave., Greenwood Village, CO 80111 on December 1, 2020 at 9:00 AM local (Mountain) time. <font style="font-weight: bold;">Personal attendance at the meeting will not
            be allowed due to current pandemic health concerns.</font>&#160; The manner for any stockholder wishing to participate in the virtual Annual Meeting is set out in detail in the Proxy Statement accompanying this Notice, beginning on page 4 of the
          Proxy Statement.&#160; The meeting is being held for these purposes:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
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              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To elect Matthew K. Behrent, Peter E. Salas, and Richard M. Thon, to the Board of Directors to hold office until their successors shall have been elected and qualify;</div>
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        </div>
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              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To ratify the appointment by the Board of Directors of Moss Adams LLP to serve as the independent certified public accountants for the current fiscal year;</div>
              </td>
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        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zf067cf8bf28a435281ef9f8af5b43d4a" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

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                  <td style="width: 45pt; text-align: justify;">&#160;</td>
                  <td style="vertical-align: top; width: 18pt;">
                    <div style="text-align: justify;">3.</div>
                  </td>
                  <td style="align: left; vertical-align: top; width: auto;">
                    <div style="text-align: justify;">To consider and transact such other business as may properly come before the Annual Meeting or any adjournments thereof.</div>
                  </td>
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        </div>
        <div style="text-align: justify; font-family: 'Times New Roman';"> <br>
        </div>
        <div style="font-family: 'Times New Roman',Times,serif; text-indent: 45pt; text-align: justify;">The Board of Directors has fixed the close of business on October 21, 2020 as the record date for the determination of the stockholders entitled to
          receive notice and to vote at the Annual Meeting or any adjournments thereof. The list of stockholders entitled to vote will be available for examination by any stockholder at the Company's offices at 8000 E. Maplewood Ave., Suite 130, Greenwood
          Village, CO 80111, for ten (10) days prior to December 1, 2020.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>NOTE that this Proxy Statement and the Annual Meeting contemplated hereby does NOT relate to the previously announced proposed merger (the
            &#8220;Merger&#8221;) pursuant to an Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;) dated October 21, 2020 among the Company, Antman Sub, LLC, a wholly-owned subsidiary of the Company, and Riley Exploration - Permian, LLC (&#8220;Riley&#8221;).&#160; In connection
            with the Merger, the Company intends to file materials with the Securities and Exchange Commission (the &#8220;SEC&#8221;), including a Registration Statement on Form S-4 (the &#8220;Registration Statement&#8221;), that will include a proxy statement/prospectus. After
            the Registration Statement is declared effective by the SEC, the Company intends to mail a definitive proxy statement/prospectus to the Company&#8217;s stockholders.</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
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              <td style="width: 50.02%; vertical-align: top; font-family: 'Times New Roman';">
                <div>Dated: October 30, 2020</div>
              </td>
              <td style="width: 49.98%; vertical-align: top; font-family: 'Times New Roman';">
                <div>By Order of the Board of Directors</div>
              </td>
            </tr>
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              <td style="width: 50.02%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>
              <td style="width: 49.98%; vertical-align: top; font-family: 'Times New Roman';">
                <div>/s/ Michael J. Rugen</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.02%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>
              <td style="width: 49.98%; vertical-align: top; font-family: 'Times New Roman';">
                <div>Michael J. Rugen, <font style="font-style: italic;">Chief Executive Officer</font></div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">2</font></div>
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        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;">WHETHER OR NOT YOU EXPECT TO ATTEND THE MEETING, PLEASE FILL IN, SIGN AND DATE THE PROXY SUBMITTED HEREWITH AND RETURN IT IN THE ENCLOSED
          STAMPED ENVELOPE.&#160; THE GRANTING OF SUCH PROXY WILL NOT AFFECT YOUR RIGHT TO REVOKE SUCH PROXY IN PERSON SHOULD YOU LATER DECIDE TO ATTEND THE MEETING. THE ENCLOSED PROXY IS BEING SOLICITED BY THE BOARD OF DIRECTORS.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"><u>INTERNET AVAILABILITY OF PROXY MATERIALS</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; text-indent: 72pt; margin-right: 2.5pt; margin-left: 5.8pt; font-family: 'Times New Roman';">This Notice of Annual Meeting and Proxy Statement along with the form of proxy card and the Company&#8217;s Annual Report on
          Form 10-K for the year ended December 31, 2019 will be available online at <u>https://www.cstproxy.com/tengasco/2020</u>&#160;on the first day these materials are mailed to shareholders which is&#160; anticipated to be October 30, 2020.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">3</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">TENGASCO, INC. - PROXY STATEMENT </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">GENERAL</div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">This proxy statement is furnished by the Board of Directors of Tengasco, Inc., a Delaware corporation (sometimes the &#8220;Company&#8221; or &#8220;Tengasco&#8221;), in connection with
          the solicitation of proxies to be used at the annual meeting of stockholders of the Company to be held on December 1, 2020 and at any adjournments thereof (the &#8220;Annual Meeting&#8221;). The Annual Meeting will be held in a virtual format only from the
          Company&#8217;s headquarters at 8000 E. Maplewood Ave., Greenwood Village, CO 80111 on December 1, 2020 at 9:00 AM local (Mountain) time. <font style="font-weight: bold;">Personal attendance at the meeting will not be allowed due to current pandemic
            health concerns.</font></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; margin-left: 45pt; text-align: justify;"><u>How do I attend the Virtual Annual Meeting?</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Follow the instructions below for either &#8220;Registered Shareholders&#8221; or &#8220;Beneficial Owners&#8221; as may be applicable to you.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; margin-left: 45pt;">Registered Shareholders (shareholders having a paper certificate of their shares):</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">As a registered shareholder, you will receive a Proxy Card from Continental Stock Transfer. The Proxy Card will tell you how you may vote your shares before the
          virtual meeting. The Proxy Card also contains instructions on how to attend the virtual annual meeting and provides the required URL address, along with your control number. You will need your control number for access. If you do not have your
          control number, contact Continental Stock Transfer at the phone number or e-mail address below.&#160;&#160; Continental Stock Transfer contact information is as follows:&#160; 917-262-2373, or email to proxy@continentalstock.com.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">You can (but are not required to) pre-register to attend the virtual meeting.&#160; Pre-registration begins November 25, 2020 at 9:00 A.M.&#160; Mountain Time. Enter this
          URL address into your browser <u>https://www.cstproxy.com/tengasco/2020</u> then enter your control number, name, and email address.&#160; Once you pre-register you can vote your shares, and if you wish you may also enter questions in the chat box
          for submittal at the virtual meeting.&#160; At the start of the virtual meeting you will need to re-log in using your Control Number and will also be prompted to enter your Control Number if you vote during the meeting. If you have not pre-registered,
          you may still attend the virtual annual meeting by following the same procedure as for &#8220;pre-registering&#8221; set out in this paragraph.&#160; On the day of the virtual meeting you will log in to the virtual annual meeting by going to:&#160; <u>https://www.cstproxy.com/tengasco/2020</u>&#160;
          You should do this about 15 minutes before the meeting to assure timely entrance to the virtual meeting.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; margin-left: 45pt;">Beneficial Owners of shares (who own their investments through a bank or broker holding the shares in institutional or &#8220;street&#8221; name):</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; margin-left: 45pt;"><u>To vote your shares before the meeting:</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">4</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">You will receive proxy materials forwarded to you by the bank or broker. Although most&#160; banks and brokers offer mail, telephone, and internet voting, to vote your
          shares before the meeting, the availability of voting options and specific procedures to be used to vote will depend on their respective voting arrangements set out in the materials you receive by mail from your bank or broker. Follow those
          instructions to vote your shares before the meeting.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">However, the forms you receive from the bank or broker will <font style="font-weight: bold; font-style: italic;">not</font> contain instructions for attending the
          virtual annual meeting.&#160; If you vote your shares before the meeting, you are not obliged to attend the virtual meeting but are welcome to do so. To attend the virtual annual meeting and submit any questions to management, follow one of the two
          choices below:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-style: italic; text-indent: 45pt;"><u>To Attend the Virtual Annual Meeting and Vote your Shares at the meeting:</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">To attend the virtual annual meeting and vote shares at the meeting, beneficial owners will need to contact Continental Stock Transfer to receive a Control
          Number.&#160; Continental Stock Transfer contact information is as follows:&#160; 917-262-2373 or email to proxy@continentalstock.com.&#160; &#160; If you plan to vote at the meeting you will <u>also</u> need to have what is called a &#8220;legal proxy&#8221; that you must
          obtain from your bank or broker.&#160; This assures your votes will not be double counted.&#160; <u>Without the &#8220;legal proxy&#8221; from your bank or broker, you will not be allowed to vote at the meeting even though you have obtained a control number and are
            thereby entitled to attend the virtual meeting and ask questions.&#160; </u><u>On the day of the virtual meeting you will log in to the virtual annual meeting by going to:&#160; https://www.cstproxy.com/tengasco/2020</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-style: italic; text-indent: 45pt;"><u>To Attend the Virtual Annual Meeting but Not Vote your Shares at the meeting:</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">If you are a beneficial owner and would like to join the virtual annual meeting but do not want or need to vote your shares at the meeting,&#160; Continental Stock
          Transfer will issue you a guest control number with proof of your stock ownership. You must contact Continental Stock Transfer for specific instructions on how to receive the guest control number. Continental Stock Transfer can be contacted at
          the number or email address as follows:&#160; 917-262-2373, or email to proxy@continentalstock.com.&#160; &#160;&#160; Please allow up to 72 hours prior to the meeting for processing your control number.&#160; On the day of the meeting you will log in to the virtual
          annual meeting by going to:</div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">https://www.cstproxy.com/tengasco/2020</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">If a proxy is properly executed and returned, the shares represented thereby will be voted as instructed on the proxy. Any proxy may be revoked by a stockholder
          prior to its exercise upon written notice to the Chief Executive Officer of the Company, or by a stockholder voting in person at the Annual Meeting. Unless instructions to the contrary are indicated, proxies will be voted FOR the election of the
          directors named therein and FOR the ratification of the selection by the Audit Committee of the Board of Directors of Moss Adams LLP as the independent certified public accountants of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">A copy of the Company&#8217;s Annual Report on Form 10-K of the Company for the fiscal year ended December 31, 2019 (&#8220;Fiscal 2019&#8221;), which contains financial statements
          audited by the Company's independent certified public accountants, accompanies this proxy statement.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">5</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="text-indent: 45pt;">
          <div>
            <div style="text-align: justify; font-family: 'Times New Roman';">The cost of preparing, assembling, and mailing the Notice of Internet Availability of Proxy materials, notice of meeting, proxy statement, the enclosed Annual Report on Form 10-K
              and proxy card will be borne by the Company. In addition to solicitation of the proxies by use of the mails, some of the officers and regular employees of the Company, without extra remuneration, may solicit proxies personally or by
              telephone, fax transmission or e-mail. The Company may also request brokerage houses, nominees, custodians, and fiduciaries to forward soliciting material to the beneficial owners of the common stock. The Company will reimburse such persons
              for their expenses in forwarding soliciting material.</div>
          </div>
        </div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">VOTING SECURITIES AND PRINCIPAL HOLDERS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board of Directors has fixed October 21, 2020 as the record date (the &#8220;Record Date&#8221;) for determination of stockholders entitled to notice of and to vote at the
          Annual Meeting. Only stockholders on Record Date will be able to vote at the Annual Meeting.&#160; &#160; As of the Record Date, 10,684,417 shares of the Company's common stock were outstanding, and each share will be entitled to one vote, with no shares
          having cumulative voting rights. Holders of shares of common stock are entitled to vote on all matters. Unless otherwise indicated herein, a majority of the votes represented by shares present or represented at the Annual Meeting is required for
          approval of each matter that will be submitted to the stockholders.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Management knows of no business other than that specified in Items 1 and 2 in the Notice of Annual Meeting that will be presented at the Annual Meeting. If any
          other matter is properly presented, the persons named in the enclosed proxy intend to vote in their best judgment.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Five Percent Stockholders</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The following table sets forth the shareholdings of those persons who own more than 5% of the Company's common stock as of October 21, 2020 with these computations
          being based upon 10,684,417 shares of common stock being outstanding as of that date:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za5d4fdcaba0545ebbe2db4f406f5ec33">

            <tr>
              <td style="width: 37.86%; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: center;">Name and Address</div>
              </td>
              <td style="width: 18.45%; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: center;">Title</div>
              </td>
              <td style="width: 24.27%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman';">Number of Shares</div>
                <div style="text-align: center; font-family: 'Times New Roman';">Beneficially Owned</div>
              </td>
              <td style="width: 19.42%; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: center;">Percent of Class</div>
              </td>
            </tr>
            <tr>
              <td style="width: 37.86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">Dolphin Offshore Partners, L.P.</div>
                <div style="font-family: 'Times New Roman';">c/o Dolphin Mgmt. Services, Inc.</div>
                <div style="font-family: 'Times New Roman';">P.O. Box 16867</div>
                <div style="font-family: 'Times New Roman';">Fernandina Beach, FL 32035</div>
              </td>
              <td style="width: 18.45%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Stockholder</div>
              </td>
              <td style="width: 24.27%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">5,297,741<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
              </td>
              <td style="width: 19.42%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">49.6%</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
        <div> <br>
        </div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Consists of shares held directly by Peter E. Salas individually, and shares held directly by Dolphin Offshore Partners, L.P.
          (&#8220;Dolphin&#8221;). Peter E. Salas is the sole shareholder of and controlling person of Dolphin Mgmt. Services, Inc. which is the general partner of Dolphin.</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">6</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">PROPOSAL NO. 1: ELECTION OF DIRECTORS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="margin-left: 5.8pt; font-family: 'Times New Roman'; font-weight: bold;">GENERAL</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Article 3.1 of the Company's Bylaws provides that the number of directors of the Company shall be a minimum of three and a maximum of ten. The members of the Board
          of Directors are each elected for a one-year term or until their successors are elected and qualify with a plurality of votes cast in favor of their election. Three nominees are put forth before the stockholders for election to the Board of
          Directors at the Annual Meeting. All of the nominees are presently directors of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The directors will serve until the next annual meeting of stockholders or until their successors shall have been elected and qualified.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Unless authority is withheld, the proxies in the accompanying form will be voted in favor of the election of the nominees named above as directors. If any nominee
          should subsequently become unavailable for election, the persons voting the accompanying proxy may in their discretion vote for a substitute.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-align: justify;">BOARD OF DIRECTORS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board of Directors has the responsibility for establishing broad corporate policies and for the overall performance of the Company. The members of the Board
          are kept informed of the Company's business by various reports and documents sent to them as well as by operating and financial reports made at Board meetings. The Board of Directors held 7 meetings in Fiscal 2019. All directors who are up for
          re-election attended at least 75% of the aggregate number of meetings of the Board of Directors and of the committees on which such directors served during Fiscal 2019.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">There is no understanding or arrangement between any director and any other persons pursuant to which such individual was or is to be selected as a director or
          nominee of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Company&#8217;s Chief Executive Officer does not currently serve as a Director. In the event a Chief Executive Officer also serves as a Director, the Board has
          previously determined as a matter of policy to divide the functions of CEO and Chairman between two individuals. Placing the CEO on the Board as a director may have the dual beneficial effects of assisting both the CEO in making operational
          decisions as he is expected to do in the ongoing operation of the Company with accessibility to the guidance of the Board, while allowing the Board to more effectively oversee the business risk without any additional influence from the
          CEO/Director if he were also serving as Chairman.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">7</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold;"><u>Identification of Director-Nominees</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt;">The following table sets forth the names of all director-nominees.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb45ebf4b6f954b74aa21e62e3a9c1222">

            <tr>
              <td style="width: 26.07%; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: center; font-weight: bold;">Name</div>
              </td>
              <td style="width: 31.2%; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: center; font-weight: bold;">Positions Held</div>
              </td>
              <td style="width: 42.72%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Date of Initial Election or Designation</div>
              </td>
            </tr>
            <tr>
              <td style="width: 26.07%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div>Matthew K. Behrent</div>
              </td>
              <td style="width: 31.2%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Director</div>
              </td>
              <td style="width: 42.72%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">3/27/07</div>
              </td>
            </tr>
            <tr>
              <td style="width: 26.07%; vertical-align: top; font-family: 'Times New Roman';">
                <div>Peter E. Salas</div>
              </td>
              <td style="width: 31.2%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman';">Director;</div>
                <div style="text-align: center; font-family: 'Times New Roman';">Chairman of the Board</div>
              </td>
              <td style="width: 42.72%; vertical-align: top;">
                <div style="text-align: center; font-family: 'Times New Roman';">10/8/02</div>
                <div style="text-align: center; font-family: 'Times New Roman';">10/21/04</div>
              </td>
            </tr>
            <tr>
              <td style="width: 26.07%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div>Richard M. Thon</div>
              </td>
              <td style="width: 31.2%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Director</div>
              </td>
              <td style="width: 42.72%; vertical-align: top; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">11/22/13</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>Background of Directors</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The following is a brief account of the experience, for at least the past five (5) years, of each nominee for director.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Matthew K. Behrent is 50 years old. He is currently the Executive Vice President, Corporate Development of EDCI Holdings, Inc, a company that is currently engaged
          in carrying out a plan of dissolution. Before joining EDCI in June, 2005, Mr. Behrent was an investment banker, working as a Vice-President at Revolution Partners, a technology focused investment bank in Boston, from March 2004 until June 2005
          and as an associate in Credit Suisse First Boston Corporation's technology mergers and acquisitions group from June 2000 until January 2003. From June 1997 to May 2000, Mr. Behrent practiced law, most recently with Cleary, Gottlieb, Steen &amp;
          Hamilton in New York, advising financial sponsors and corporate clients in connection with financings and mergers and acquisitions transactions. Mr. Behrent received his J.D. from Stanford Law School in 1997, and his B.A. in Political Science and
          Political Theory from Hampshire College in 1992. He became a Director of the Company on March 27, 2007.&#160;&#160; During a portion of the last five years ending in 2018, he was a Director and Chairman of the Audit Committee of Asure Software, Inc.
          (NASDAQ: ASUR). The experience, qualifications, attributes, and skills gained by Mr. Behrent in these sophisticated legal and financial positions directly apply to and support the financial oversight of the Company&#8217;s operations and qualify Mr.
          Behrent to serve as a Director of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Peter E. Salas is 66 years old. He has been President of Dolphin Asset Management Corp. and its related companies since he founded it in 1988. Prior to
          establishing Dolphin, he was with J.P. Morgan Investment Management, Inc. for ten years, becoming Co-manager, Small Company Fund and Director-Small Cap Research.&#160; He received an A.B. degree in Economics from Harvard in 1978. Mr. Salas was elected
          to the Board of Directors on October 8, 2002. The business experience, attributes, and skills gained by Mr. Salas in these sophisticated financial positions, together with his service as director of other public companies and his capacity as
          controlling person of the Company&#8217;s largest shareholder directly apply to and support his qualification as a director, and lead to the conclusion that Mr. Salas should serve as a Director of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">8</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Richard M. Thon is 65 years old. He began a career with ARAMARK Corporation in 1987. ARAMARK is based in Philadelphia, has 270,000 employees worldwide, and
          provides food services, facilities management, and uniform and career apparel to health care institutions, universities, and businesses in 21 countries. Mr. Thon served in various capacities in the Corporate Finance Department of ARAMARK
          culminating with the position of Assistant Treasurer when he retired in June 2002. His responsibilities included bank credit agreements, public debt issuance, interest rate risk management, foreign subsidiary credit agreements, foreign exchange,
          letters of credit, insurance finance, off-balance-sheet finance, and real estate and equipment leasing. Prior to joining ARAMARK, Mr. Thon was a Vice President in the International Department of Mellon Bank. During a portion of the last five
          years he has been, but is not currently, a director of Boston Restaurant Associates, Inc.&#160; Mr. Thon received a B.A. in Economics degree from Yale College in 1977 and a Masters of Business Administration degree in Finance from The Wharton School,
          University of Pennsylvania in 1979. Mr. Thon&#8217;s experience in the fields of banking and finance directly apply to the business needs of the Company and lead to the conclusion that he will provide significant benefit to the Board and that he is
          qualified to serve as a Director of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>Director Independence</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Rules of the NYSE American stock exchange (the &#8220;NYSE American Rules&#8221;) require that an issuer such as the Company which is a &#8220;Smaller Reporting Company&#8221;
          pursuant to Regulation S-K Item 10(f)(1) maintain a board of directors of which at least one-half of the members are independent in that they&#160; are not officers of the Company and are free of any relationship that would interfere with the exercise
          of their independent judgment. The NYSE American Rules also require that as a Smaller Reporting Company, the Company&#8217;s Board of Directors&#8217; Audit Committee be comprised of at least two members all of whom qualify as independent under the criteria
          set forth in Rule 10 A-3 of the Securities Exchange Act of 1934 and NYSE American Rule 803(b)(2)(c).&#160;&#160; The Board of Directors has determined that the director-nominees, Matthew K. Behrent and Richard M. Thon,&#160; are&#160; independent&#160; as&#160; defined&#160; by&#160;
          the&#160; NYSE&#160; American&#160; Rules,&#160; and&#160; that&#160; Matthew&#160; K.&#160; Behrent, and Richard M. Thon are also independent as defined by Section 10A(m)(3) of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission
          and that each of these nominees does not have any relationship which would interfere with the exercise of his independent judgment in carrying out his responsibilities as a director. In reaching its determination, the Board of Directors reviewed
          certain categorical independence standards to provide assistance in the determination of director independence. The categorical standards are set forth below and provide that a director will not qualify as an independent director under the NYSE
          American Rules if:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zb665bed15def4f7a80c58d5f0fdc4a1e" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="width: 45pt;">&#160;</td>
                <td style="vertical-align: top; width: 18pt;">
                  <div style="text-align: left;"><font style="font-family: 'Times New Roman';">&#8226;</font></div>
                </td>
                <td style="vertical-align: top; width: auto;">
                  <div style="text-align: left;"><font style="font-family: 'Times New Roman';">The Director is, or has been during the last three years, an employee or an officer of the </font>Company or any of its affiliates;</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zda490c8a620f42d986a5c95df3cb5bcf">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Director has received, or has an immediate family member<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;who has received, during any twelve consecutive months in the last three years any compensation from the Company in excess of $120,000, other than compensation
                  for service on the Board of Directors, compensation to an immediate family member who is an employee of the Company other than an executive officer, compensation received as an interim executive officer or benefits under a tax-qualified
                  retirement plan, or non-discretionary compensation; </div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
        <div><br>
        </div>
        <div style="margin-right: 4.8pt; margin-left: 5.8pt; margin-top: 2.35pt; font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;Under these categorical standards &#8220;immediate family member&#8221;
          includes a person&#8217;s spouse, parents, children, siblings, mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in-law, and anyone who resides in such person&#8217;s home (other than a domestic employee)</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">9</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbba360efdb324401ad73c8685827dd9e">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Director is a member of the immediate family of an individual who is, or has been in any of the past three years, employed by the Company or any of its affiliates as an executive officer;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z618ea3c63de94daaada975e1f12aca0a">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Director, or an immediate family member, is a partner in, or controlling shareholder or an executive officer of, any for-profit business organization to which the Company made, or received, payments (other than those arising solely
                  from investments in the Company&#8217;s securities) that exceed 5% of the Company&#8217;s or business organization&#8217;s consolidated gross revenues for that year, or $200,000, whichever is more, in any of the past three years;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7833ffa1529b45b1bf756dc757045bce">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Director, or an immediate family member, is employed as an executive officer of another entity where at any time during the most recent three fiscal years any of the Company&#8217;s executives serve on that entity&#8217;s compensation
                  committee; or</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd5d4de313d1849afb02eb448b0b140f8">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Director, or an immediate family member, is a current partner of the Company&#8217;s outside auditors, or was a partner or employee of the Company&#8217;s outside auditors who worked on the Company&#8217;s audit at any time during the past three
                  years.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="margin-right: 4.8pt; margin-left: 5.8pt; font-family: 'Times New Roman'; text-align: justify;">The following additional categorical standards were employed by the Board in determining whether a director qualified as independent to serve
          on the Audit Committee and provide that a director will not qualify if:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1ff32af0ed734302b266b176395298a5">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">The&#160; Director&#160; directly or&#160; indirectly&#160;&#160; accepts&#160; any consulting, advisory, or other compensatory fee from the Company or any of its subsidiaries;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zdc9d47f39fe7499fbb83aa6f87273b13" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="width: 45pt; text-align: justify;">&#160;</td>
                <td style="vertical-align: top; width: 18pt;">
                  <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">&#8226;</font></div>
                </td>
                <td style="vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">The Director is an affiliated person<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;of the Company or any of its subsidiaries; or</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z56f98cf17b9648e4b702885e41ea8a99">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">The Director participated in the preparation of the Company&#8217;s financial statements at any time during the past three years.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The independent members of the Board meet as often as necessary to fulfill their responsibilities, but meet at least annually in executive session without the
          presence of non- independent directors and management.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt; text-align: justify;"><u>Committees</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">The Company&#8217;s Board has audit and compensation/stock option committees.</div>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
        <br>
        <div style="margin-top: 2.35pt; font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;For purposes of this categorical standard, an &#8220;affiliated person of the Company&#8221; means a person that
          directly or indirectly through intermediaries controls, or is controlled by, or is under common control with the Company. A person will not be considered to be in control of the Company, and therefore not an affiliate of the Company, if he is not
          the beneficial owner, directly or indirectly of more than 10% of any class of voting securities of the Company and he is not an executive officer of the Company. Executive officers of an affiliate of the Company as well as a director who is also
          an employee of an affiliate of the Company will be deemed to be affiliates of the Company.</div>
        <div style="margin-right: 7.2pt; margin-left: 5.8pt; margin-top: 2.35pt; font-family: 'Times New Roman';"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">10</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>Audit Committee</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">In Fiscal 2019, director-nominees Matthew K. Behrent and Richard M. Thon were the members of the Audit Committee.&#160; Mr. Behrent was the Chairman of the Committee.
          The Board determined that both Mr. Behrent and Mr. Thon are qualified as an &#8220;audit committee financial expert&#8221; as defined by applicable Securities and Exchange Commission (&#8220;SEC&#8221;) regulations and the NYSE American Rules. Each of the members of the
          Audit Committee met the independence and experience requirements of the NYSE American exchange rules, the applicable securities laws, and the regulations and rules promulgated by the SEC.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; margin-right: 2.8pt; margin-left: 5.8pt; font-family: 'Times New Roman';">The Audit Committee adopted an Audit Committee Charter during fiscal 2001. In 2004 and 2015, the Board adopted amendments to the Audit
          Committee Charter, a copy&#160; of which, as amended, is available on the Company&#8217;s internet website, <u>www.tengasco.com. </u>The Audit Committee Charter fully complies with the requirements of the NYSE American Rules. The Audit Committee reviews
          and reassesses the Audit Committee Charter annually.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">The Audit Committee's functions are:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4c10e4a529d8441e94900dc3562b2656">

            <tr>
              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">To review with management and the Company&#8217;s independent auditors the scope of the annual audit and quarterly statements, significant financial reporting issues and judgments made in connection with the
                  preparation&#160; of&#160; the Company&#8217;s financial statements;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z032ae4bec4d6416bbc8cb1c0e4b0c06b">

            <tr>
              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To review major changes to the Company&#8217;s auditing and accounting principles and practices suggested by the independent auditors;</div>
              </td>
            </tr>

        </table>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zd80c6dde7606439d8b344efb729ac9b2" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="width: 59.8pt; text-align: justify;">&#160;</td>
                <td style="vertical-align: top; width: 17.2pt;">
                  <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">&#8226;</font></div>
                </td>
                <td style="vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">To monitor the independent auditor's relationship with the Company;</font></div>
                </td>
              </tr>

          </table>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6dc62fe7702249b2a4c559ba8aa9037e">

            <tr>
              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To advise and assist the Board of Directors in evaluating the independent auditor's examination;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb247a49eedfd4ab99ec1ef113cb8453f">

            <tr>
              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To supervise the Company's financial and accounting organization and financial reporting;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3673a41902a240548b5d10cd5f442052">

            <tr>
              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To nominate, for approval of the Board of Directors, a firm of certified public accountants whose duty it is to audit the financial records of the Company for the fiscal year for which it is appointed; and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z085f8b95e3d84ea7800a55210d692134">

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              <td style="width: 59.8pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 17.2pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>To review and consider fee arrangements with, and fees charged by, the Company&#8217;s independent auditors.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Audit Committee met each quarter and a total of 4 times in Fiscal 2019 with the Company&#8217;s auditors, including discussing the audit of the Company&#8217;s year-end
          financial statements. It is intended that if elected as directors in 2020, Messrs. Behrent and Thon will continue to serve as members of the Audit Committee with Mr. Behrent again serves as the Chairman of the Committee and with Messrs. Behrent
          and Thon each being an audit committee financial expert.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">11</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-family: 'Times New Roman'; font-style: italic; text-indent: 45pt;"><u>Audit Committee Report</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt;">The Audit Committee has:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; margin-left: 45pt;"><font style="font-family: 'Times New Roman';">I.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Reviewed and discussed the Company&#8217;s unaudited financial statements for the first
            three quarters of Fiscal 2019 and the Company&#8217;s audited financial statements for the year ended December 31, 2019 with the management of the Company and the Company&#8217;s independent auditors;</font></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; margin-left: 45pt;">II.&#160; &#160; &#160; &#160; Discussed&#160; with&#160; the&#160; Company&#8217;s&#160; independent&#160; auditors&#160; the&#160; matters&#160; required&#160; to&#160; be discussed by Statement of Auditing Standards No. 61, as the same
          was in effect on the date of the Company&#8217;s financial statements; and</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; margin-left: 45pt;">III.&#160; &#160; &#160; Received the written disclosures and the letter from the Company&#8217;s independent accountant&#160; required by applicable requirements of the Public Company
          Accounting Oversight Board regarding the independent accountant&#8217;s communications with the audit committee concerning independence, and has discussed with the independent accountant the independent accountant&#8217;s independence.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Based on the foregoing materials and discussions, the Audit Committee recommended to the Board of Directors that the unaudited financial statements for each of the
          first three quarters of Fiscal 2019 be included in the Quarterly Reports on Form 10-Q for those quarters and that the audited financial statements for the year ended December 31, 2019 be included in the Company&#8217;s Annual Report on Form 10-K for
          the year ended December 31, 2019.</div>
        <div style="text-align: justify; font-family: 'Times New Roman';"> <br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman';">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z42467a85bf594d81b0641b6c15938711">

              <tr>
                <td style="width: 50.00%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div>
                    <div style="text-align: left;"><u>Members of the Audit Committee</u></div>
                    <div style="text-align: left;">Matthew K. Behrent</div>
                    <div style="text-align: left;">Richard M. Thon</div>
                  </div>
                </td>
              </tr>

          </table>
        </div>
        <br>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Nominations for the Board of Directors are determined by&#160; the independent directors pursuant to procedures adopted by the Board. Those procedures provide that the
          qualifications that should be met by any person recommended as a nominee for a position on the Company&#8217;s Board of Directors should include one or more of the following: a background or experience in oil and gas exploration, production,
          transportation, geology, construction, finance or in another business, government service, or profession that would reasonably enable the nominee to provide seasoned and reputable service to the shareholders of the Company in the performance of
          the duties of a member of the Board of Directors.&#160;&#160; The Board has not paid fees to any third party to identify, evaluate or to assist in identifying or evaluating, potential nominees, but may do so in the future if the Board determines doing so
          is necessary or appropriate.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board has no policy regarding the consideration of &#8220;diversity&#8221; in identifying nominees for director. The Company has no separate policy with regard to the
          consideration of any director candidates recommended by security holders. However, the Board will consider director candidates recommended by security holders provided that such nominations are timely made as set forth hereinafter under the
          heading &#8220;Stockholders Proposals&#8221;. Any person recommended by a security holder to serve on the Board of Directors is considered upon the same terms as candidates recommended by any other person.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">12</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="margin-left: 41.8pt; font-family: 'Times New Roman';">Among the nominating procedures are the following:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1623339ffbb74de486776f11114a904d">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Any shareholder, officer, or director may recommend for nomination any person for the slate of candidates for membership on the Company&#8217;s Board of Directors to be presented to the shareholders at the Company&#8217;s annual meeting of
                  shareholders. Such recommendations must be furnished in writing addressed to the Company&#8217;s Board of Directors at the Company&#8217;s principal offices. All such nominations will be furnished to the Board which may conduct interviews,
                  investigations or make other determinations as to the qualifications of such recommended persons.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z25ed825171604e18bf6f57bdca9206ff">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Any then-current members of the Board of Directors desiring to stand for re-election may be placed on the slate of directors for re-election without further inquiry as to their qualifications.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb16c382779c1469eb77b5c431178b051">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The Board will determine the slate of candidates for the Board in such a manner and at such a time so as not to delay either the mailing of the proxy statement to the Company&#8217;s shareholders or the annual meeting of shareholders.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcde13928a8524c0ca0a56a76f55f8ba7">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The adopted procedures apply only to the determination of the slate of directors to be presented for election at the annual meeting of the shareholders. Any vacancies on the Board of Directors following the annual meeting of
                  shareholders may be filled in the manner currently applicable under the Company&#8217;s Charter, Bylaws, and applicable law.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zef88fd94e0474b249958b7d7458adee7">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>The procedures adopted may be amended from time to time by the Board of Directors in order to comply with any applicable provision or interpretation of any rule, statute, or stock exchange rule of the exchange on which the Company&#8217;s
                  stock may be listed.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The nomination procedures adopted are posted on the Company&#8217;s internet website at www.tengasco.com. In the event of any such amendment to the procedures, the
          Company intends to disclose the amendments on the Company's internet website within five business days following such amendment.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">The independent members of the Board determined the slate of candidates for the Board of Directors presented for election at this year&#8217;s Annual Meeting.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="margin-left: 44.8pt; font-family: 'Times New Roman'; font-weight: bold; text-align: justify;"><u>Compensation/Stock Option Committee</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The members of the Compensation/Stock Option Committee in Fiscal 2019 were Matthew K.&#160; Behrent, and Richard M. Thon, with Mr. Thon acting as Chairman. Messrs.
          Behrent and Thon meet the current independence standards established by the NYSE American Rules. It is intended that if elected as directors in 2018, Messrs. Behrent and Thon will continue to serve as a members of the Compensation/Stock Option
          Committee with Mr. Thon serving as Chairman.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">The Board of Directors has adopted a charter for the Compensation/Stock Option Committee which is available at the Company&#8217;s internet website, www.tengasco.com.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">13</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Compensation/Stock Option Committee&#8217;s functions, in conjunction with the Board of Directors, are&#160; to&#160; provide&#160; recommendations&#160; with&#160; respect&#160; to&#160; general&#160;
          and&#160; specific&#160; compensation policies and practices of the Company for directors, officers and other employees of the Company. The&#160; Compensation/Stock&#160; Option&#160; Committee&#160; expects&#160; to&#160; periodically&#160; review&#160; the&#160; approach&#160; to executive compensation
          and to make changes as competitive conditions and other circumstances warrant and will seek to ensure the Company's compensation philosophy is consistent with the Company's best interests and is properly implemented. The Committee determines or
          recommends to the Board of Directors for determination the specific compensation of the Company&#8217;s Chief Executive Officer and all of the Company&#8217;s other officers. Although the Committee may seek the input of the Company&#8217;s Chief Executive Officer
          in determining the compensation of the Company&#8217;s other executive officers, the Chief Executive Officer may not be present during the voting or deliberations with respect to his compensation. The Committee may not delegate any of its
          responsibilities unless it is to a subcommittee formed by the Committee, but only if such subcommittee consists entirely of directors who meet the independence requirements of the NYSE American exchange rules.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Compensation/Stock Option Committee is also charged with administering the Tengasco, Inc. 2018 Stock Incentive Plan (the &#8220;Stock Incentive Plan&#8221;).&#160; The
          Compensation/Stock Option Committee has complete discretionary authority with respect to the awarding of options and Stock Appreciation Rights (&#8220;SARs&#8221;), under the Stock Incentive Plan, including, but not limited to, determining the individuals
          who shall receive shares, options, and SARs; the times when they shall receive them; whether an option shall be an incentive or a non-qualified stock option; whether an SAR shall be granted separately, in tandem with or in addition to an option;
          the number of shares to be subject to each option and SAR; the term of each option and SAR; the date each option and SAR shall become exercisable; whether an option or SAR shall be exercisable in whole, in part or in installments and the terms
          relating to such installments; the exercise price of each option and the base price of each SAR; the form of payment of the exercise price; the form of payment by the Company upon the exercise of an SAR; whether to restrict the sale or other
          disposition of the shares of common stock acquired upon the exercise of an option or SAR; to subject the exercise of all or any portion of an option or SAR to the fulfillment of a contingency, and to determine whether such contingencies have been
          met; with the consent of the person receiving such option or SAR, to cancel or modify an option or SAR, provided such option or SAR as modified would be permitted to be granted on such date under the terms of the Stock Incentive Plan; and to make
          all other determinations necessary or advisable for administering the Stock Incentive Plan.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Compensation/Stock Option Committee did not meet in Fiscal 2019. The Committee has the authority to retain a compensation consultant or other advisors to
          assist it in the evaluation of compensation and has the sole authority to approve the fees and other terms of retention of such consultants and advisors and to terminate their services. The Committee did not retain any such consultants or
          advisors in 2019.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-style: italic; text-indent: 45pt;">Compensation/Stock Option Committee Interlocking and Insider Participation</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">No interlocking relationship existed or exists between any member of the Company's Compensation/Stock Option Committee and any member of the compensation committee
          of any other company, nor has any such interlocking relationship existed in the past. No member or nominee of the Compensation/Stock Option Committee is now or was previously an officer or an employee of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">14</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt; text-align: justify;"><u>Section 16(a) Beneficial Ownership Reporting Compliance</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Section 16(a) of the Securities Exchange Act of 1934 requires the Company&#8217;s executive officers, directors and persons who beneficially own more than 10% of the
          Company&#8217;s Common Stock to file initial reports of ownership and reports of changes in ownership with the SEC no later than the second business day after the date on which the transaction occurred unless certain exceptions apply. In Fiscal 2019,
          the Company, its officers, directors and shareholders owning more than 10% of its common stock were not delinquent in filing any Form 3, 4, and 5 reports.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt; text-align: justify;"><u>Family and Other Relationships</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">There are no family relationships between any of the present directors or executive officers of the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; text-indent: 45pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><u>Involvement in Certain Legal Proceeding</u></font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>s</u></font></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">To the knowledge of management, no director, executive officer or affiliate of the Company or owner of record or beneficially of more than 5% of the Company's
          common stock is a party adverse to the Company or has a material interest adverse to the Company in any proceeding.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">To the knowledge of management, during the past ten years, unless specifically indicated below&#160; with&#160; respect&#160; to&#160; any&#160; numbered&#160; item,&#160; no&#160; present&#160; director,&#160;
          executive&#160; officer&#160; or&#160; person nominated to become a director or an executive officer of the Company:</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z76bf09673b974be5ab359afa6e2706e3" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="width: 45pt; text-align: justify;">&#160;</td>
                <td style="vertical-align: top; width: 27pt;">
                  <div style="text-align: justify; font-family: 'Times New Roman';">(1)</div>
                </td>
                <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify; font-family: 'Times New Roman';">Filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for the business or
                    property of such person, or any partnership in which he or she was a general partner at or within two years before the time of such filing, or any corporation or business association of which he or she was an executive officer at or
                    within two years before the time of such filing; provided, however that:</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; margin-left: 72pt; text-align: justify;">Peter E. Salas, a director of the Company and Chairman of the Board of the Company was the chief executive officer of Boston Restaurant Associates, Inc. when that
          company filed a Chapter 11 reorganization plan under federal bankruptcy laws on May 20, 2015. The plan of reorganization became effective on August 31, 2015 and Mr. Salas has remained the chief executive officer and sole director of that company
          since the reorganization.&#160; In addition, Mr. Salas was controlling person of the general partner of Hoactzin Partners, L.P. (&#8220;Hoactzin&#8221;) when on October 26, 2019 Hoactzin filed a petition under Chapter 11 of the Bankruptcy Code in the Northern
          District of Texas in Dallas.&#160; On February 12, 2020 the proceeding was converted to a Chapter 7 liquidation proceeding.&#160; At the time of this Proxy Statement, the case was proceeding in due course.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64d24b3502764ddd9988491c691f8626">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">15</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2e17b504edc24abfa73bbe296652f4fa">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(3)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him or her from or otherwise limiting the following
                  activities: (a) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading
                  Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan
                  association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity; (b) engaging in any type of business practice; or (c) engaging in any activity in connection with the purchase or
                  sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z96a7adfd3f6c4115bf638ede29bf698c">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(4)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting him or her for more than 60 days from engaging in any
                  activity described in paragraph 3(a) above, or being associated with any persons engaging in any such activity;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbd226d58bffb4043b249331415716fe6">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(5)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, and the judgment in such civil action or finding by the SEC has not been subsequently reversed,
                  suspended, or vacated;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb16a165e00d74791859c2b7f9efc95ee">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(6)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was found by a court of competent jurisdiction in a civil action or by&#160; the Commodity Futures Trading Commission (&#8220;CFTC&#8221;) to have violated any federal&#160; commodities law, and the judgment in such civil action or finding by the&#160; CFTC has
                  not been subsequently reversed, suspended, or vacated;</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z32d98b5e9d2e4f9cbb6b88ce1bcee302">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(7)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was&#160; the&#160; subject&#160; of,&#160; or&#160; a&#160; party&#160; to,&#160; any&#160; federal&#160; or&#160; state&#160; judicial&#160; or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: (i) any federal
                  or state securities or commodities law or regulation; (ii) any law or regulation respecting financial institutions or insurance companies including but not limited to a temporary or permanent injunction, order of disgorgement or
                  restitution, civil money penalty or temporary or permanent cease and desist order, or removal or prohibition order; or (iii) any law or regulation prohibiting mail&#160; or&#160; wire&#160; fraud&#160; or&#160; fraud in&#160; connection&#160; with&#160; any business entity; or</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbae9d37946624e968a8ce451a2fa3e30">

            <tr>
              <td style="width: 45pt; font-family: 'Times New Roman';"><br>
              </td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman';">(8)</td>
              <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';">
                <div>Was the subject of, or a party to, any sanction or order, not subsequently reversed,&#160; suspended&#160; or&#160; vacated,&#160; of&#160; any&#160; self-regulatory&#160; organization&#160; (as defined in Section 3(a)(26) of the Exchange Act [15 U.S.C. 78c(a)(26)], any
                  registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act [7 U.S.C. 1(a)(29)], or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated
                  with a member.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">16</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman';">
          <div style="font-weight: bold;"><u>Stockholder Communications with the Board of Directors</u></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;"> <br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Stockholders may communicate with the Board of Directors of the Company by writing to: Cary V. Sorensen, Secretary, Tengasco, Inc., 8000 E. Maplewood Ave., Suite
          130, Greenwood Village, CO 80111 or by e-mail: to:&#160; csorensen@tengasco.com Subject: Communication to Board of Directors. All letters and e-mails will be answered, if possible, and will be distributed to Board members as appropriate.
          Notwithstanding the foregoing, the Company has the authority to discard or disregard any communication, which is unduly hostile, threatening, illegal or otherwise inappropriate or to take any other appropriate actions with respect to such
          communications.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">SECURITY OWNERSHIP OF DIRECTORS AND OFFICERS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z01dd8a189f9e43a0bb0a8fd630397eb5">

            <tr>
              <td style="width: 33.95%; vertical-align: top; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Name and Address</div>
              </td>
              <td style="width: 27.2%; vertical-align: top; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Title</div>
              </td>
              <td style="width: 21.72%; vertical-align: top; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Number of Shares </div>
                <div style="text-align: center; font-weight: bold;">Beneficially Owned<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
              </td>
              <td style="width: 17.13%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Percent of</div>
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Class<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Matthew K. Behrent<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Director</div>
              </td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">65,025</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Less than 1%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Michael J. Rugen<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Chief Executive Officer;</div>
                <div style="text-align: center;"> Chief Financial Officer</div>
              </td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">81,522</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Less than 1%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Peter E. Salas<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">8</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center; font-family: 'Times New Roman';">Director;</div>
                <div style="text-align: center; font-family: 'Times New Roman';">Chairman of the Board</div>
              </td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">5,298,366</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">49.6%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Cary V. Sorensen<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">9</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Vice President; General </div>
                <div style="text-align: center;">Counsel; Secretary</div>
              </td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">23,623</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">Less than 1%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Richard M. Thon<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Director</div>
              </td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">33,125</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">Less than 1%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.95%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman';">All Officers and Directors as a group<sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">11</sup></div>
              </td>
              <td style="width: 27.2%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 21.72%; vertical-align: middle; font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center;">5,501,661</div>
              </td>
              <td style="width: 17.13%; vertical-align: middle; font-family: 'Times New Roman'; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: center;">51.5%</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;">Change in Control</div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"> <br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">To the knowledge of the Company&#8217;s management, there are no present arrangements or pledges of the Company&#8217;s securities which may result in a change in control of
          the Company. On October 21, 2020, the Company entered into the Merger Agreement, which, if completed as contemplated by the Merger Agreement, will result in a change of control of the Company. For more information regarding the Merger Agreement,
          please see the Company&#8217;s Current Report on Form 8-K filed with SEC on October 22, 2020.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">EXECUTIVE COMPENSATION</div>
        <div style="text-align: justify; font-family: 'Times New Roman';">Executive Officer Compensation</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The following table sets forth a summary of all compensation awarded to, earned or paid to, the Company's Chief Executive Officer, Chief Financial Officer, other
          executive officers, and employees whose compensation exceeded $100,000 during fiscal years ended December 31, 2019 and December 31, 2018.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman';">
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
        <div style="font-family: 'Times New Roman';"><sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
          </sup></div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup>&#160;Unless otherwise stated, all shares of common stock are directly held with sole voting and dispositive power. The shares set
          forth in the table are as of October 21, 2020.</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup> Calculated pursuant to Rule 13d-3(d) under the Securities Exchange Act of 1934 based upon 10,684,417 shares of common stock
          being outstanding. Shares not outstanding that are subject to options exercisable by the holder within 60 days of October 21, 2020 are deemed outstanding for the purposes of calculating the number and percentage owned by such stockholder, but not
          of any other person. </div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;Consists of 64,400 shares held directly and 625 vested, fully exercisable options to purchase shares.</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">7 </sup>Consists of shares held directly.</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">8</sup> Consists of Peter E. Salas&#8217; directly, vested, fully exercisable options to purchase 625 shares and his 9,500 shares held
          individually; and 5,288,241 shares held directly by Dolphin Offshore Partners, L.P. (&#8220;Dolphin&#8221;). Peter E. Salas is the sole shareholder of and controlling person of Dolphin Mgmt. Services, Inc. which is the general partner of Dolphin.</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">9</sup>&#160;Consists of shares held directly</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup>&#160;Consists of 32,500 shares held directly; and vested, fully exercisable options to purchase 625 shares.</div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">11</sup>&#160;Consists of 211,545 shares held directly by directors and management; 5,288,241 shares held by Dolphin; and vested, and fully
          exercisable options to purchase 1,875 shares.</div>
        <div style="font-family: 'Times New Roman';"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">17</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">SUMMARY COMPENSATION TABLE</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z9fb504bdb59f48c4a2f28c04e65c4833">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 31%;">
                <div style="font-weight: bold;">Name and Principal Position</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 9%;">
                <div style="text-align: center; font-weight: bold;">Year</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">Salary</div>
                  ($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; font-weight: bold;">Bonus</div>
                <div style="text-align: center; font-weight: bold;">($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">Stock</div>
                  <div style="font-weight: bold;">Awards</div>
                  ($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">All Other</div>
                  <div style="font-weight: bold;">Compensation<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
                  ($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; font-weight: bold;">Total</div>
                <div style="text-align: center; font-weight: bold;">($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 31%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>Michael J. Rugen,</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; margin-right: 3.25pt;">2019</div>
              </td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div>199,826</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div>23,507</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div>12,147</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div>8,128</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div>243,608</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 31%; border-left: 2px solid rgb(0, 0, 0);">
                <div>Chief Financial Officer</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 9%;">
                <div style="text-align: right; margin-right: 3.25pt;">2018</div>
              </td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
                <div>184,213</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
                <div>21,821</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
                <div>15,097</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
                <div>7,482</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
                <div>228,613</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 31%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>Chief Executive Officer (interim)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 31%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>Cary V. Sorensen,</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; margin-right: 3.25pt;">2019</div>
              </td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
                <div>91,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
                <div>3,707</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
                <div>94,707</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 31%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>General Counsel</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; margin-right: 3.25pt;">2018</div>
              </td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
                <div>87,050</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
                <div>3,550</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
                <div>90,600</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            </tr>

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        <div style="font-family: 'Times New Roman';"> <br>
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            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">(1)</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">The amounts in this column consist of the Company&#8217;s matching contributions to its 401 (k) plan and the portion of company-wide group term life insurance premiums allocable to these named executive officers.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze3312fe747f54498b2a7e7984da41764">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">(2)</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">Mr. Rugen was appointed interim Chief Executive Officer on June 28, 2013.&#160; The bonus and stock award information for Mr. Rugen for 2019 and 2018 represents his compensation for his services as CEO.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold;">Outstanding Equity Awards at Fiscal Year-End</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zda8c0b077e3149a18a41fb6cf09a0061">

            <tr>
              <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="8" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">OPTION AWARDS</div>
              </td>
            </tr>
            <tr>
              <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Name</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">Number of securities</div>
                </div>
                <div style="text-align: center; font-weight: bold;">underlying unexercised</div>
                <div style="text-align: center; font-weight: bold;">options exercisable</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">Number of securities</div>
                  <div style="font-weight: bold;">underlying unexercised</div>
                  options unexercisable</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: center; font-weight: bold;">
                  <div style="font-weight: bold;">Option exercise</div>
                  price</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-right: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Option</div>
                <div style="text-align: center; font-weight: bold;">expiration date</div>
              </td>
            </tr>
            <tr>
              <td style="width: 35%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">
                <div>Michael J. Rugen</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div>$</div>
              </td>
              <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">
                <div>Cary V. Sorensen</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div>$</div>
              </td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                <div style="text-align: right; margin-right: 3.25pt;">&#160;&#8212;</div>
              </td>
              <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">Option and Award Exercises</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">No other options were exercised during 2019 or 2018.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">Employment Contracts and Compensation Agreements</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">On September 18, 2013, the Company and its Chief Financial Officer and interim Chief Executive Officer Michael J. Rugen entered into a written Compensation
          Agreement as reported on Form 8-K filed on September 24, 2013.&#160; Under the terms of the Compensation Agreement, Mr. Rugen&#8217;s annual salary will increase from $150,000 to $170,000 per year in his capacity as Chief Financial Officer, and he will
          receive a bonus of $7,500 per quarter for each quarter during which he also serves as interim Chief Executive Officer.&#160; At June 1, 2014, Mr. Rugen&#8217;s salary was increased to $199,826 per year in his capacity as Chief Financial Officer, the
          quarterly bonus received while in the capacity as interim Chief Financial Officer was increased to $8,815 per quarter.&#160; The increases at June 1, 2014 were for cost of living adjustments related to the relocation of the corporate office from
          Knoxville to Greenwood Village.&#160; The Compensation agreement is not an employment contract, but does provide that in the event Mr. Rugen were terminated without cause, he would receive a severance payment in the amount of six month&#8217;s salary in
          effect at the time of any such termination.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">18</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">On February 25, 2015, the Company and its Vice President, General Counsel, and Corporate Secretary Cary V. Sorensen entered into a written Compensation Agreement
          as reported on Form 8-K filed on February 19, 2015.&#160; Under the terms of the Compensation Agreement, effective March 2, 2015, Mr. Sorensen&#8217;s annual salary will be reduced from $137,500 to $91,000 in consideration of the Company's agreement to
          permit Mr. Sorensen to serve as a full time employee from a virtual office in Galveston, Texas with presence in the Denver area headquarters as required. He will remain eligible for certain existing benefits: 401-K plan, bonus potential;
          Company-paid state bar membership dues and charges, and mobile phone charges. The Company also pays reasonable and customary office operating expenses. The Company would pay for business travel on a mileage basis and out of pocket travel costs.
          However, as to health insurance, Mr. Sorensen will obtain a combination of private/governmental health and disability insurance in lieu of the Company plans, with the Company reimbursing up to $13,000 per year in premiums incurred by him.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman';">
          <div style="text-align: justify; text-indent: 45pt;">On February 19, 2015, in response to the global market factors affecting revenues from sales of the Company&#8217;s production of crude oil, the Board of Directors of the Company implemented
            reductions in the compensation of the Company&#8217;s officers.</div>
        </div>
        <div style="font-family: 'Times New Roman';">
          <div><br>
          </div>
        </div>
        <div style="font-family: 'Times New Roman';">
          <div style="text-align: justify; text-indent: 45pt;">As to the Company&#8217;s Chief Financial Officer and interim Chief Executive Officer Michael J. Rugen, Mr. Rugen&#8217;s salary as CFO and bonus as CEO was reduced effective February 2, 2015 by 18% from
            current levels, or about $42,000 per year. The 18% reduction will remain in place until the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information Administration meets
            or exceeds $70 per barrel when his compensation shall revert to the levels in place before the reductions became effective. In May 2018, oil prices as so calculated exceeded $70 and compensation reverted to the levels in place before the
            reductions became effective.&#160; At such time, if any, that the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information Administration meets or exceeds $85 per barrel, all
            previous reductions made will be reimbursed to Mr. Rugen if he is still employed by the Company. Mr. Rugen expressly consented to this reduction as not constituting a &#8220;termination without Cause&#8221; under the terms of his Compensation Agreement
            dated September 18, 2013 but permitting him to invoke that provision in the event prices do recover as set out above but the compensation reduction is not rescinded or the reductions are not repaid.</div>
        </div>
        <div style="font-family: 'Times New Roman';">
          <div><br>
          </div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">As to the Company&#8217;s Vice President, General Counsel, and Corporate Secretary Cary V Sorensen, the Company and Mr. Sorensen reached agreement on February 25, 2015
          that as of March 2, 2015 his annual salary would be set at $91,000 per annum, a reduction from his current salary of $137,500 per annum as described above. In addition, Mr. Sorensen&#8217;s $91,000 salary will be reduced effective March 2, 2015 by 10%.
          In like manner as set out above for Mr. Rugen, the 10% reduction on Mr. Sorensen&#8217;s salary will remain in place until the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy
          Information Administration meets or exceeds $70 per barrel when his salary shall revert to $91,000 per annum.&#160; In May 2018, oil prices as so calculated exceeded $70 and compensation reverted to the levels in place before the reductions became
          effective.&#160; At such time, if any, that the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information Administration meets or exceeds $85 per barrel, all previous reductions
          made from the $91,000 salary level will be reimbursed to Mr. Sorensen if he is still employed by the Company.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">19</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">There are presently no other employment contracts relating to any member of management. However, depending upon the Company's operations and requirements, the
          Company may offer long-term contracts to executive officers or key employees in the future.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>Compensation of Directors</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board of Directors has resolved to compensate members of the Board of Directors for attendance at meetings at the rate of $250 per day, together with direct
          out-of-pocket expenses incurred in attendance at the meetings, including travel. The Directors, as of the date of this Report, have waived all such fees due to them for prior meetings.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Members of the Board of Directors may also be requested to perform consulting or other professional services for the Company from time to time, although at this
          time no such arrangements are in place.&#160; The Board of Directors has reserved to itself the right to review all directors' claims for compensation on an <font style="font-style: italic;">ad hoc</font> basis.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Board members currently receive fees from the Company for their services as director.&#160;&#160; They may also from time to time be granted stock options or common stock
          under the Tengasco, Inc. Stock Incentive Plan. A separate plan to issue cash and/or shares of stock to independent directors for service on the Board and various committees was authorized by the Board of Directors and approved by the Company&#8217;s
          shareholders. A copy of that separate plan is posted at the Company&#8217;s website at www.tengasco.com. However, no award was made to any independent director under that separate plan in Fiscal 2019.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">On February 19, 2015, in response to the global market factors affecting revenues from sales of the Company&#8217;s production of crude oil, the Board of Directors of
            the Company implemented reductions in the compensation of the Company&#8217;s directors.&#160; The reductions on the directors&#8217; compensation will remain in place until the market price of crude oil, calculated as a thirty day trailing average of WTI
            postings as published by the U.S. Energy Information Administration meets or exceeds $70 per barrel when then their compensation will revert to pre-reduction levels.&#160; In May 2018, oil prices as so calculated exceeded $70 and compensation
            reverted to the levels in place before the reductions became effective.&#160; At such time, if any, that the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information
            Administration meets or exceeds $85 per barrel, all previous reductions made from pre-reduction compensation levels will be reimbursed to the directors if they are still directors of the Company.</div>
          <div style="font-family: 'Times New Roman';"><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">20</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">DIRECTOR COMPENSATION FOR FISCAL 2019</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z84af498222954d98ba24af13d06fd8d6" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Fees earned or</div>
                <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">paid in cash</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Stock awards</div>
                <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">compensation<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Total</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Name</div>
              </td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">($)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Matthew K. Behrent</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>15,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>1,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>16,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Richard M. Thon</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>15,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>1,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>16,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Peter E. Salas</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>15,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>1,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>16,840</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman';">
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;"></div>
        <div style="font-family: 'Times New Roman';"> <br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z96cdabd36a724033861c0f50e4767199">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman';">(3)</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">The amounts represented in this column are equal to the aggregate grant date fair value of the award computed in accordance with FASB ASC Topic 718, Compensation-Stock Compensation, in connection with
                  options granted under the Tengasco, Inc. Stock Incentive Plan.&#160; See Note 11 Stock and Stock Options in the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31,
                  2019 for information on the relevant valuation assumptions.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za6569005fa964ffeab6e3dff6e0bd2e9">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; text-align: justify;">(4)</td>
              <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">As of December 31, 2019, Mr. Behrent held 3,125 unexercised options; Mr. Salas held 3,125 unexercised options; and Mr. Thon held 3,125 unexercised options.&#160; The number of unexercised options has been
                  adjusted to reflect the impact of the 1 for 10 reverse stock split approved at the shareholder meeting dated March 21, 2016, effective with trading on March 24, 2016.</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>CERTAIN TRANSACTIONS</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">During the 4<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> quarter of 2018, the Company acquired all of Hoactzin&#8217;s working interest in all drilling program wells for $134,690. The acquisition was
          authorized by the two nonrelated party directors in accordance with the Company&#8217;s related party transaction policy, and was made on the same terms offered to all participants and accepted by four of the five drilling program participants other
          than Hoactzin electing to sell their interest to the Company.&#160; One participant did not accept the Company&#8217;s offer to purchase its interest. Other than that acquisition, there have been no material transactions, series of similar transactions or
          currently proposed transactions entered into during 2019 and 2018 to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds the lesser of $120,000 or one percent of the average of the Company&#8217;s
          total assets at year-end for its last two completed fiscal years in which any director or executive officer or any security holder who is known to the Company to own of record or beneficially more than 5% of the Company's common stock, or any
          member of the immediate family of any of the foregoing persons, had a material interest.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">In this Report on Form 10-K for the year ended December 31, 2019, the Company describes two transactions of the type described above, that the Company entered into
          with Hoactzin in 2007 that remained in existence for a portion of the year in 2018.&#160;&#160; Those two transactions are the &#8220;net profits agreement&#8221; and the &#8220;drilling programs&#8221;.&#160; In January 2018, the Company sold its methane facility assets, thereby
          ending the net profits agreement at the Methane Project.&#160; In November 2018, the Company acquired Hoactzin&#8217;s interest in the Ten Well Program for $131,290.&#160; As noted above, Peter E. Salas, the Chairman of the Board of Directors of the Company, is
          the controlling person of Hoactzin and of Dolphin Offshore Partners, L.P., the Company&#8217;s largest shareholder. These two 2007 transactions between the Company and Hoactzin are described in Item 1, Business.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">21</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">In addition to the two 2007 transactions, Hoactzin also owned a drilling program interest in the Company&#8217;s &#8220;6 Well Program&#8221; in Kansas, acquired in 2005 by Hoactzin
          in exchange for surrender of the Company&#8217;s promissory notes given by the Company for borrowings to fund the redemption in 2004 of the Company&#8217;s three series of preferred stock, all as previously disclosed.&#160; In November 2018, the Company acquired
          Hoactzin&#8217;s interest in the 6 Well Program for $3,400.&#160; The approximate dollar value of the amount of Hoactzin&#8217;s interest in the 6 Well Program was $9,000 in 2018 (calculated as the total payments attributable to Hoactzin for its program
          interest).&#160; Following the acquisition of all Hoactzin&#8217;s drilling program interests in November 2018, there will be no interest of Hoactzin in the ten well or six well drilling programs in any future period.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">In addition to the above, one transaction of the type described above was entered into in 2007 but has expired by its own terms.&#160; On December 18, 2007, the Company
          entered into a Management Agreement with Hoactzin to manage on behalf of Hoactzin all of its working interest in certain oil and gas properties owned by Hoactzin and located in the onshore Texas Gulf Coast, and offshore Texas and offshore
          Louisiana. As part of the consideration for the Company&#8217;s agreement to enter into the Management Agreement, Hoactzin granted to the Company an option to participate in up to a 15% working interest on a dollar for dollar cost basis in any new
          drilling or workover activities undertaken on Hoactzin&#8217;s managed properties during the term of the Management Agreement.&#160; The Management Agreement expired on December 18, 2012.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Company entered into a transition agreement with Hoactzin whereby the Company will no longer perform operations, but will administratively assist Hoactzin in
          becoming operator of record of these wells and administratively assist Hoactzin in the transfer of the corresponding bonds from the Company to Hoactzin.&#160; This assistance is primarily related to signing the necessary documents to effectuate this
          transition.&#160; Hoactzin and its controlling member are indemnifying the Company for any costs or liabilities incurred by the Company resulting from such assistance, or the fact that the Company is the operator of record on certain of these wells.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; text-indent: 45pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Review, Approval or Ratification of Transactions
              with Related Parties</u></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u>12</u></sup></font></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Company&#8217;s Board of Directors has adopted a written Related Party Transactions Approval Policy which is posted on the Company&#8217;s website at www.tengasco.com. It
          is the Company&#8217;s preference to avoid entering into a material related-party transaction if a transaction with a non-related party is available on an equally timely and equally beneficial basis. However, if a Related Party Transaction appears to
          be in the Company&#8217;s best interest then it will be approved or ratified if the Board of Directors pursuant to the Company&#8217;s Related Party Transaction Approval Policy expressly finds that the terms of the transaction are comparable to or more
          beneficial to the Company than those that could be obtained in arm&#8217;s length dealings with an unrelated third party; or, the transaction is approved by the majority of disinterested directors of the Company&#8217;s Board.</div>
        <br>
        <div>
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;">
        </div>
        <div> <br>
        </div>
        <div style="font-family: 'Times New Roman'; text-align: justify;"><sup style="font-family: Calibri,sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">12</sup>&#160;A &#8220;Related Party&#8221; is any director or executive officer of the Company, any nominee for director, any shareholder known to be
          the beneficial owner of more than 5% of any class of the Company&#8217;s voting stock, and any Immediate Family Member of any such Party. &#8220;Immediate Family Member&#8221; means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law,
          father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law of a person, and any person (other than a tenant or an employee) sharing the household of such person.</div>
        <div style="font-family: 'Times New Roman';"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">22</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;"><u>Parent of Issuer</u></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-indent: 45pt;">The Company has no parent.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold;">BOARD RECOMMENDATION AND VOTE REQUIRED</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">For Proposal No. 1 regarding the election of directors, votes may be cast in favor of all nominees, may be withheld with regard to all nominees or may be withheld
          only with regard to nominees specified by the stockholder. Directors will be elected by a plurality of the votes of the shares of the Company's common stock present in person or represented by proxy, and entitled to vote on the election of
          directors at a meeting at which a quorum is present.&#160; Abstentions are tabulated in determining the votes present at a meeting. Consequently, an abstention has the same effect as a vote against a director-nominee, as each abstention would be one
          less vote in favor of a director nominee. If a broker indicates on the proxy that it does not have discretionary authority as to certain shares to vote on a particular matter (i.e., a &#8220;broker non-vote&#8221;), those shares will not be considered as
          present and entitled to vote with respect to that matter. The Board of Directors recommends that stockholders vote &#8220;FOR&#8221; the nominees set forth above. Unless marked to the contrary, proxies received will be voted FOR the nominees set forth above.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">23</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">PROPOSAL No. 2</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">RATIFICATION OF SELECTION </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">OF</div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">MOSS ADAMS LLP AS INDEPENDENT AUDITORS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board&#8217;s Audit Committee has recommended and the Board of Directors has approved the engagement of Moss Adams LLP (&#8220;Moss Adams&#8221;) as independent certified public
          accountants, to audit the accounts for the Company for Fiscal 2020.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Hein &amp; Associates LLP (&#8220;Hein&#8221;) performed these services for the year ended December 31, 2016, and the first three quarters of 2017.&#160; In November 2017, Hein
          combined with Moss Adams LLP (&#8220;Moss Adams&#8221;) and Moss Adams was selected by the Audit Committee at that time to continue as the Company&#8217;s independent accountants.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Company is advised that neither Moss Adams nor any of its partners has any material direct or indirect relationship with the Company. The Audit Committee
          considers Moss Adams to be well qualified for the function of serving as the Company's auditors.&#160; Delaware law does not require the approval of the selection of auditors by the Company's stockholders, but in view of the importance of the
          financial statements to stockholders, the Board of Directors deems it desirable that they pass upon its selection of auditors.&#160; In the event the stockholders disapprove of the selection, the Board of Directors will consider the selection of other
          auditors.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-right: 7.55pt; margin-left: 10.8pt; font-family: 'Times New Roman'; font-weight: bold;">Audit and Non-Audit Fees</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The following table presents the fees for professional audit services rendered by the Company&#8217;s independent registered public accounting firm, Moss Adams LLP
          (&#8220;Moss Adams&#8221;), for the audit of the Company&#8217;s annual consolidated financial statements and fees for professional audit services rendered for the quarterly reviews for the fiscal years ended December 31, 2019 and December 31, 2018.</div>
        <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';"><br>
          </font></div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">AUDIT AND NON-AUDIT FEES</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="z4e24023d8d09484da7ff877b96a65f44" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;"> 2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">2018</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Moss Adams</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Moss Adams</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1.04%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Audit Fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>122,063</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>117,600</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Audit-Related Fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8212;</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>Tax Fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div>All Other Fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>&#8212;</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>3,599</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Total Fees</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>122,063</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div>121,199</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1.04%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

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        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Audit fees include fees related to the services rendered in connection with the annual audit of the Company&#8217;s consolidated financial statements, the quarterly
          reviews of the Company&#8217;s quarterly reports on Form 10-Q and the reviews of and other services related to statutory filings or engagements for the subject fiscal years.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">24</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-right: 7.55pt; margin-left: 10.8pt; font-family: 'Times New Roman';">Audit-related fees are for assurance and related services by the principal accountants that are reasonably related to
          the performance of the audit or review of the Company&#8217;s financial statements.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-right: 7.55pt; margin-left: 10.8pt; font-family: 'Times New Roman';">Tax Fees include services for (i) tax compliance, (ii) tax advice, (iii) tax planning and (iv) tax reporting.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-right: 7.55pt; margin-left: 10.8pt; font-family: 'Times New Roman';">All Other Fees includes fees for all other services provided by the principal accountants not covered in the other
          categories such as litigation support, etc.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">All of the 2019 services described above were approved by the Audit Committee pursuant to the SEC rule that requires audit committee pre-approval of audit and
          non-audit services provided by the Company&#8217;s independent auditors. The Audit Committee considered whether the provisions of such services, including non-audit services, by Moss Adams were compatible with maintaining its independence and concluded
          they were.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">BOARD RECOMMENDATION AND VOTE REQUIRED</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The Board of Directors recommends that you vote in favor of the above proposal to ratify the appointment of Moss Adams LLP as independent auditors of the Company
          for Fiscal 2020. Ratification will require the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy. In the event ratification is not provided, the Audit Committee and the Board of Directors will
          review the future selection of the Company's independent auditors.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Unless otherwise directed by the stockholder giving the proxy, the proxy will be voted for the ratification of the selection by the Board of Directors of Moss
          Adams LLP as the Company's independent certified public accountants for Fiscal 2020. Shares voted as abstaining will count as votes cast. If a broker indicates on the proxy that it does not have discretionary authority as to certain shares to
          vote on a particular matter (i.e., a &#8220;broker non-vote&#8221;), those shares will not be considered as present and entitled to vote with respect to that matter. An abstention from voting by a stockholder present in person or by proxy at the meeting has
          the same legal effect as a vote &#8220;against&#8221; Proposal No. 2 because it represents a share present or represented at the meeting and entitled to vote, thereby&#160; increasing the number of affirmative votes required to approve this proposal.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">25</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;">STOCKHOLDERS' PROPOSALS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">Proposals of stockholders intended to be presented at the 2021 annual meeting must be received in writing, by the Chief Executive Officer of the Company at its
          offices by July 1, 2021 in order to be considered for inclusion in the Company's proxy statement relating to that meeting.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">SEC rules and regulations provide that if the date of the Company's 2021 Annual Meeting is advanced or delayed more than 30 days from the date of the 2020 Annual
          Meeting, stockholder proposals intended to be included in the proxy materials for the 2021 Annual Meeting must be received by the Company within a reasonable time before the Company begins to print and mail the proxy materials for the 2021 Annual
          Meeting. Upon determination by the Company that the date of the 2021 Annual Meeting will be advanced or delayed by more than 30 days from the date of the 2020 Annual Meeting, the Company will disclose such change by filing Form 8-K within four
          business days from the date when the 2021 annual meeting date is determined.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman';">
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              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
                <td style="width: 50%; vertical-align: top;">
                  <div style="font-family: 'Times New Roman';">By Order of the Board of Directors</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
                <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">
                  <div style="margin-right: 170.1pt;">/s/ Cary V. Sorensen</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
                <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">
                  <div>Cary V. Sorensen, <font style="font-style: italic;">Secretary</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="margin-left: 221.8pt; font-family: 'Times New Roman';"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">26</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">TENGASCO, INC.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">THIS PROXY IS SOLICITED ON BEHALF </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">OF THE BOARD OF DIRECTORS</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman'; text-indent: 45pt;">The undersigned hereby appoints Michael J. Rugen and Cary V. Sorensen as proxies (the &#8220;Proxies&#8221;), each with power of substitution and re-substitution, to vote all
          shares of Common Stock, $.001 par value per share, of Tengasco, Inc. (the &#8220;Company&#8221;) held of record by the undersigned on October 21, 2020 at the Annual Meeting of stockholders to be held at 8000 E. Maplewood Ave., Suite 115, Greenwood Village,
          CO 80111 on December 1, 2020 at 9:00 AM local (Mountain ) time, or at any adjournments thereof, as directed below, and in their discretion on all other matters coming before the meeting or any adjournments thereof.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; margin-right: 252pt; margin-left: 9pt; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt;">Please mark boxes &#9744; in blue or black ink.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman';">1.&#160; &#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Election of Directors: Matthew K.&#160; Behrent, Peter E. Salas, and Richard M. Thon.</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt; text-align: justify;">(Mark only one of the two boxes for this item)</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
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              <td style="width: 45pt; text-align: justify;">&#160;</td>
              <td style="width: 27pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: normal; text-align: justify;">&#9744;</td>
              <td style="vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: justify;">VOTE FOR all nominees named above except those who may be named on these two lines:</div>
              </td>
            </tr>

        </table>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman';">
          <table cellspacing="0" cellpadding="0" border="0" id="z1c1446cbd4f645408b8352bb3e982c11" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td colspan="1" style="width: 6%; padding-bottom: 2px; text-align: justify;">&#160;</td>
                <td style="width: 74%; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: justify;">&#160;</div>
                </td>
                <td style="width: 20%; padding-bottom: 2px; text-align: justify;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 6%; padding-bottom: 2px; text-align: justify;">&#160;</td>
                <td style="width: 74%; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: justify;">&#160;</div>
                </td>
                <td style="width: 20%; padding-bottom: 2px; text-align: justify;" colspan="1">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div style="font-family: 'Times New Roman'; text-align: justify;">(OR)</div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
        <div>
          <div style="font-family: 'Times New Roman',Times,serif;">
            <div>
              <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z86b73ab9a71a41b5871bb7db7bf58deb" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

                  <tr style="vertical-align: top;">
                    <td style="width: 45pt; text-align: justify;">&#160;</td>
                    <td style="vertical-align: top; width: 27pt;">
                      <div style="text-align: justify;">&#9744; </div>
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                      <div style="text-align: justify;">VOTE WITHHELD as to all nominees named above.</div>
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        <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">2.</font><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Proposal to ratify appointment of Moss Adams LLP as the Company's independent certified public
            accountants for Fiscal 2018:</font></div>
        <div style="font-family: 'Times New Roman';"><br>
        </div>
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                <td style="width: 15%;">
                  <div style="text-align: justify;">AGAINST <br>
                  </div>
                </td>
                <td style="width: 5%;">
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                  </div>
                </td>
                <td style="width: 15%;">
                  <div style="text-align: justify;">ABSTAIN <br>
                  </div>
                </td>
                <td style="width: 42%;">
                  <div style="text-align: justify;">&#9744; <br>
                  </div>
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        <div style="font-family: 'Times New Roman';"><br>
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        <div style="text-align: justify;"><font style="font-family: 'Times New Roman';">3.</font><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In their discretion, the Proxies are authorized to vote upon such other business as may properly
            come before the meeting.</font></div>
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        <div style="font-family: 'Times New Roman'; text-indent: 45pt; text-align: justify;">When properly executed, this Proxy will be voted as directed. If no direction is made, this Proxy will be voted &#8220;FOR&#8221; election of all Directors named in Proposal 1
          and FOR Proposal 2.</div>
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        <div style="font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt; text-align: justify;">Please mark, date, and sign and return this Proxy promptly in the enclosed envelope.</div>
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        <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold; text-indent: 45pt;">Please sign exactly as name appears hereon. When shares are held by joint tenants, both should sign. When signing as attorney or executor,
          administrator, trustee or guardian, please give your full title as such. If a corporation, please sign in full corporate name by president or other authorized officer. If a partnership, please sign in partnership name by authorized person.</div>
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                <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dated: </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">______________, 2020</font></div>
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              </td>
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              <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>
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              <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
              <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman'; padding-bottom: 2px;">
                <div>X</div>
              </td>
              <td style="width: 25%; vertical-align: top; font-family: 'Times New Roman'; border-bottom: 2px solid rgb(0, 0, 0);"><br>
              </td>
              <td style="width: 23%; vertical-align: top; font-family: 'Times New Roman'; padding-bottom: 2px;"><br>
              </td>
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