Tengasco, Inc. (TGC) engages in the acquisition, exploration, and development of oil and natural gas throughout North America. Currently, the company has operations in Kansas and Tennessee. The company proved reserves of 2,145,190 barrels of oil and 1,786,742 MCF of gas at the end of 2006. Headquarters are located in Knoxville, TN.

The company reported their total proved reserves for the year of 2007, which turned out to be more than double that of 2006. The gas reserves as of December 31, 2007 calculated at a net present value using a 10% discount factor was $53,627,086, up from the 2006 year-end-total of $26,469,192. The report was prepared by the independent engineering firm of LaRoche Petroleum Consultants, Ltd.

During the past months, Tengasco has drilled all ten wells in a drilling program with Hoactzin Partners, L.P. Of the ten drilled wells, nine were completed as oil producers. Although the company has a 25% interest in the agreement, the company’s interest will increase to 88.75% when Hoactzin receives the payout point, which totals to net revenues of $5,215,595. It is expected that within four years all program wells will achieve the payout point.

Jeffrey R. Bailey is the acting CEO/Director of Tengasco and has served as an officer and director in the company since July 2002. Bringing more than 28 years of oil and gas exploration, management, and reservoir evaluation experience, Mr. Bailey offers many strategic and advanced concepts. He has been a guest speaker at numerous companies and universities around the world, and has authored and presented an array of technical papers.

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