Small & Midcap Stocks Discuss TGC .. TENGASCO Inc... Energy Stock in the Stock Market Forum forums; I stumbled upon this stock Tuesday afternoon and knew very little about it other than it continues to move north. I bought 500 shares @ .92 and wished it well not ...

**Aufan 1983** · #1 05-22-2008, 12:34 AM

I stumbled upon this stock Tuesday afternoon and knew very little about it other than it continues to move north. I bought 500 shares @ .92 and wished it well not putting any effort into DD. The stock closed today @ 1.30

I have since looked a little deeper into the company and I'm liking this play as a holder. I may be wrong here but I think this will move even higher over the next days or even weeks. This is an AMEX traded stock. Be sure to check out the next couple of post for some of the latest news and its pretty impressive.

Share Structure:

O/S = 59.199 Million

Float = 56.495 Million

EDIT: I tried to add more today but Scottrade has it restricted

**Aufan 1983** · #2 05-22-2008, 12:37 AM

Tengasco Performance Reported in Oil & Gas Financial Journal
Wednesday May 21, 11:28 am ET

KNOXVILLE, TN--(MARKET WIRE)--May 21, 2008 -- Tengasco, Inc. (AMEX:TGC - News)

The May 2008 issue of the publication Oil & Gas Financial Journal reporting on the performance of public oil and gas companies lists Tengasco as the 12th fastest growing oil and gas company, 5th best in percentage return on total assets, and 6th best in return on total revenue percentage based upon the measures used by the magazine. You can obtain a copy of this article at:

http://www.ogfj.com/display_article/...ial-increases/

Jeffrey R. Bailey, Chief Executive Officer of the Company, said, "It is extremely gratifying for the efforts of Tengasco to be recognized in several critical categories of growth in an industry publication like the Oil & Gas Financial Journal. For Tengasco to be named as a leader in three separate categories of the 144 public companies covered by the article is a strong vote of confidence in the direction and management model that is serving us well. While the oil and gas industry has certainly received a benefit from higher commodity prices, measures like those described in this article tend to be more a reflection of efforts generated by the Company's actions and the efforts of its employees, and the subsequent results of those actions and efforts, and therefore are received on behalf of Tengasco with great pride."

Tengasco also wishes to remind shareholders of the Company's upcoming annual meeting of stockholders, to be held at the Hilton Homewood Suites in Knoxville, Tennessee on June 2, 2008 at 9:00 am (Eastern Daylight Savings Time).

Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the Company's reserves and projects as well as risks of downturns in economic conditions generally, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact:
Contact:
Tengasco, Inc.
Jeffrey R. Bailey
CEO
865-675-1554

**Aufan 1983** · #3 05-22-2008, 12:45 AM

Tengasco Announces First Quarter 2008 Financial Results
Wednesday May 14, 4:13 pm ET

KNOXVILLE, TN--(MARKET WIRE)--May 14, 2008 -- Tengasco, Inc. (AMEX:TGC - News) announced today its financial results for the quarter ended March 31, 2008. The Company realized a net income attributable to common shareholders of $5,812,011 or $0.10 per share of common stock during the first quarter of 2008, compared to a net loss in the first quarter of 2007 to common shareholders of $(209,165) or $(0.004) per share of common stock. Of the ten cents per share earnings, approximately eight cents are the result of the recognition of a deferred tax asset related to prior period net operating losses in the amount of $5,227,000 to offset future income tax liability.

The Company recognized $3,305,720 in revenues during the first quarter of 2008 compared to $1,772,400 in the first quarter of 2007. Production for the first quarter of 2008 of 47,654 gross barrels in Kansas with about 33,800 barrels being net to the Company's interest led to record revenues to the Company for a single quarter. Increased production continued in April 2008 with a monthly production of 17,234 barrels in Kansas.

The increase in revenues was due principally to an increase in oil prices in 2008 and a 5,346 net barrel increase in oil sales during the first three months of 2008. Oil prices in the first quarter of 2008 averaged $91.36 per barrel as compared to $52.61 per barrel in the first quarter of 2007. The Company's revenue in the first quarter of 2007 had been adversely affected by inclement weather in Kansas and lower oil prices compared to the 2008 period. The Company's operating income was $885,011 in the first quarter of 2008 compared to a ($209,165) loss in operating income in the 2007 period. Production costs and taxes in the first quarter of 2008 increased to $1,335,021 from $963,130 in the first quarter of 2007 due to increased workovers to increase production, increased taxes, and overall cost increases of supplies in the industry.

The Company drilled the final well of its 10 well program in Kansas in the first quarter of 2008. The Company recently drilled 3 wells: The McElhaney A well was completed on April 22, 2008 and has produced 444 barrels to date or 30 barrels per day. The Von-lintel well, an exploratory wildcat well, was not successful and has been plugged and abandoned. This week the third well, the Ruder, was drilled and completion efforts will begin by the end of May 2008.

The Company's six-well Kansas drilling program is nearing the agreed point where the Company's interest in these wells will increase. The Company anticipates that this "flip" point will be reached in May 2008, and the Company will begin receiving an additional 85% of revenues from these wells, in addition to the 5% interest currently received by the Company, resulting in an approximate increase in revenues with June 2008 production of about $50,000 per month at current volumes and prices.

In the first quarter of 2008, the Company recorded a deferred tax asset relating to all of its remaining net operating loss carry forwards to offset tax liability of $5,227,000 in future periods, and recorded income tax expense of $300,000 for the first quarter net income. In total, the Company has now recognized a deferred tax asset relating to all of its net operating losses to offset a total of $7,327,000 in federal income tax liability. No existing NOLs remain to be recorded in any future quarter.

Jeffrey R. Bailey, Chief Executive Officer, said, "We are extremely pleased with the two cents per share income to our shareholders for the quarter (excluding the recognition of a tax asset based on our NOLs). The Company experienced a very successful quarter with net operating income of $885,011 or about a 27% profit."

Mr. Bailey continued: "Our methane project in Tennessee remains scheduled for a summer 2008 startup of commercial operations. All of the treatment equipment has been delivered and set up on site, and we await arrival of the compressors and related equipment, as well as completion of the pipeline. These projects appear to be progressing as anticipated. With May 2008 gas prices in the $11.00/MMBtu range, we expect this new, alternative green-energy gas source to provide immediate income and, to the extent it succeeds, to assist in acquisition of additional methane projects."

Mr. Bailey concluded: "In our Gulf Coast operations, we have qualified Tengasco as an operator under federal Minerals Management Service standards and are proceeding with our duties under management agreement to operate and manage properties owned by Hoactzin Partners, L.P. We are looking at opportunities there to participate in workovers or new drilling up to 15% of Hoactzin's interest."

Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the Company's reserves and projects as well as risks of downturns in economic conditions generally, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.[/quote]

**Aufan 1983** · #4 05-22-2008, 09:36 AM

Headed north in premarket. The more I have found on the company the better I like this play.

Today could be very sweet

**BadThad** · #5 05-22-2008, 10:26 AM

I'm going to jump in. From thestreet.com:

Quote:

RECOMMENDATION
We rate TENGASCO INC (TGC) a BUY. This is driven by some important positives, which we believe should
have a greater impact than any weaknesses, and should give investors a better performance opportunity than
most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price
performance, growth in earnings per share, increase in net income, revenue growth and largely solid
financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact
that the company has had somewhat disappointing return on equity.
HIGHLIGHTS
Powered by its strong earnings growth of 200.00% and other important driving factors, this stock has surged
by 30.50% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to
the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the
stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
TENGASCO INC reported significant earnings per share improvement in the most recent quarter compared to
the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth
over the past two years. During the past fiscal year, TENGASCO INC increased its bottom line by earning $0.04
versus $0.02 in the prior year.
The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500
and the Oil, Gas & Consumable Fuels industry. The net income increased by 204.4% when compared to the
same quarter one year prior, rising from $0.52 million to $1.58 million.
TGC's revenue growth trails the industry average of 28.9%. Since the same quarter one year prior, revenues
slightly increased by 5.7%. This growth in revenue appears to have trickled down to the company's bottom
line, improving the earnings per share.
TGC's debt-to-equity ratio is very low at 0.13 and is currently below that of the industry average, implying that
there has been very successful management of debt levels. To add to this, TGC has a quick ratio of 1.91,
which demonstrates the ability of the company to cover short-term liquidity needs.

**Aufan 1983** · #6 05-22-2008, 10:28 AM

Quote:

Originally Posted by BadThad

I'm going to jump in. From thestreet.com:

Thanks for the info!!!! I plan to add some today but will have to phone it in because in Scottrades wisdom they restricted it sometime yesterday.

I think its very solid and going alot higher.

**BadThad** · #7 05-22-2008, 10:37 AM

I don't think it's going much higher, definately in $2 range, but my guess it will "run out of gas" (pun intended, lol) soon after. I'm in at 1.50 and in the green just minutes later. Thanks for this one bro...it definately ROCKS.

**Aufan 1983** · #8 05-22-2008, 11:22 AM

Quote:

Originally Posted by BadThad

I don't think it's going much higher, definately in $2 range, but my guess it will "run out of gas" (pun intended, lol) soon after. I'm in at 1.50 and in the green just minutes later. Thanks for this one bro...it definately ROCKS.

I added more today @ 1.52.

I'm planning to hold this one and add on dips. The best is yet to come according to the information from the company. There are wells that will be coming into production in the next few weeks and it should bring in some nice $$$$. Their wells seem to have been very productive thus far and this should be no different.

I'm in the natural gas business and have some contacts in Tennessee that I will try to talk to and see what I can find.

**BadThad** · #9 05-22-2008, 11:41 AM

As expected after a quick jump like this, some profit taking going on. Time to light a cigar, sit back and wait.

**Aufan 1983** · #10 05-22-2008, 12:25 PM

Ouch... We are taking a beating but makes for a nice entry point.