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        <b><font style="FONT-SIZE: 14pt">UNITED STATES</font></b></p>

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        <font style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
        <b><font style="FONT-SIZE: 14pt">SECURITIES and EXCHANGE COMMISSION</font></b></p>

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

        <p></p>

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

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

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

        <p></p>

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

        <p></p>

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

        <p></p>

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

        <p></p>

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

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

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

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

        <p></p>

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

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

        <p></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        Check the appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following provisions (see
        General Instruction A.2. below):<br>
        [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)<br>
        [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)<br>
        [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
        CFR 240.14d-2(b))<br>
        [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
        CFR 240.13e-4(c))<br>
        &nbsp;<br>
        &nbsp;</p>

        <p></p>

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

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

        <p></p>

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

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

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

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

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

        <p></p>

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

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

        <p></p>

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        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities and Exchange
        Act of 1934, the Registrant has duly caused and authorized this report to be signed on its
        behalf by the undersigned.<br>
        &nbsp;<br>
        Dated: June 2,
        2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

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

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

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{"company-data": {"conformed-name": "TENGASCO INC", "cik": "0001001614", "assigned-sic": "1311", "irs-number": "870267438", "state-of-incorporation": "TN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15555", "film-number": "08872386"}, "business-address": {"street1": "10215 TECHNOLOGY DRIVE", "street2": "SUITE 301", "city": "KNOXVILLE", "state": "TN", "zip": "37932", "phone": "865-675-1554"}, "mail-address": {"street1": "10215 TECHNOLOGY DRIVE", "street2": "SUITE 301", "city": "KNOXVILLE", "state": "TN", "zip": "37932"}}
UNITED STATES
SECURITIES and EXCHANGE COMMISSION
WASHINGTON, D.C.
        20549
FORM
        8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
May 30, 2008
Tengasco, Inc.
(Exact Name of Registrant as specified in its charter)
Commission File Number 1-15555
Tennessee
87-0267438
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or
        organization)
10215 Technology Drive N.W., Suite 301, Knoxville,
        Tennessee 37932
(Address of Principal Executive Office
(865) 675-1554
(Registrant's Telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following provisions (see
        General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
        CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
        CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agrement
On May 30, 2008, the Company signed a letter agreement with Black Diamond Oil, Inc. to
        purchase approximately 80 barrels per day of oil producing properties and related leases
        and equipment in Rooks County, Kansas for $5.35 million effective with gas production
        beginning June 1, 2008. It is anticipated that the closing of the purchase will take place
        on or before July 1, 2008. The assets purchased include producing oil wells and saltwater
        disposal wells, equipment, and the underlying working interests in leases that have been
        owned and operated by Black Diamond for many years.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-
        Balance Sheet Arrangement of a Registrant
The Company also announced that on June 2, 2008 it entered into an amendment to its credit
        facility with Sovereign Bank of Dallas, TX whereby the Company's borrowing base is
        being increased by the Bank as a result of its review of the Company's currently
        owned producing properties. The borrowing base is being increased from $7 million to $11
        million effective June 2, 2008. The Company has previously utilized about $4.2 million of
        the Sovereign credit facility, leaving approximately $6.8 million available for use by the
        Company upon this borrowing base increase. The Company will use $5.35 million of its
        available $6.8 million borrowing base for the purchase of the Black Diamond Oil properties
        discussed above.
Item 9.01 Financial Statements and Exhibits
(a) FINANCIAL STATEMENTS OF
        BUSINESSES ACQUIRED
The financial statements required by this Item will be filed by amendment
not later than 71 calendar days after the date that a Report on Form 8-K announcing the
        closing of the agreement referred to in Item 1.01 was due to be filed.
(b) PRO FORMA FINANCIAL INFORMATION
The financial statements required by this Item will be filed by amendment
not later than 71 calendar days after the date that a Report on Form 8-K announcing the
        closing of the agreement referred to in Item 1.01 was due to be filed.
The following exhibits are filed herewith:
99.1 press release dated June 2, 2008
SIGNATURES
Pursuant to the requirements of the Securities and Exchange
        Act of 1934, the Registrant has duly caused and authorized this report to be signed on its
        behalf by the undersigned.
Dated: June 2,
        2008
Tengasco,
        Inc.
By:
s/Jeffrey R. Bailey
Jeffrey R. Bailey,
Chief Executive Officer