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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES and
EXCHANGE COMMISSION </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Current Report
Pursuant to Section 13 or 15(d) of the Securities <BR>Exchange Act of 1934 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date
of Earliest Event Reported): </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>March 4, 2005 </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Tengasco, Inc.</u><br>(Exact
Name of Registrant as specified in its charter) </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Commission File Number
0-20975 </FONT></P>





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     <TD ALIGN="CENTER"><u>Tennessee</u>  </TD>
     <TD ALIGN="CENTER">&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> </TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="CENTER">(State or other jurisdiction of<br>incorporation or organization)</TD>
     <TD ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;(I.R.S. Employer Identification No.)</TD></TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>603 Main Avenue,
Suite 500, Knoxville, Tennessee 37902 </U><br>(Address of Principal
Executive Office)</FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>(865)523-1124 </U><br> (Registrant&#146;s Telephone number)
Executive Office)</FONT></P>


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          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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): </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] 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)) </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 2.01 Completion of
Acquisition or Disposition of Assets </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March 4, 2005, the Company sold its natural gas producing properties in Rush County,
Kansas to Bear Petroleum, Inc. for $2.4 million effective with gas production beginning
February 1, 2005. The sale involved fifty three producing gas wells and saltwater disposal
wells, and the associated gathering system as well as the underlying leases and rights of
way, being all of the gas wells, leases, and gathering system in Rush County, Kansas that
were purchased from AFG Energy by the Company in 1998. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
sale did not involve any of the Company&#146;s oil producing properties and leases in
Kansas. The net proceeds of the sale were applied to reduce the principal outstanding on
the Company&#146;s promissory note dated May 18, 2004 payable to Dolphin Offshore Partners, L.P. (&#147;Dolphin&#148;) from the original
amount of $2.5 million to $150,000 as of March 4, 2005. It is anticipated that the balance
of the note will be paid down from the Company&#146;s operations. Interest on the note to
Dolphin is 12% per annum payable monthly which prior to reduction of the principal was $
25,000 per month. Dolphin is the largest holder of the Company&#146;s common stock and
Peter E. Salas, controlling person of Dolphin, is a Director of the Company. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
2004, the wells that were sold produced 261,466 Mcf of gas resulting in revenues to the
Company of approximately $868,892. The Company&#146;s revenues from all of its Kansas
properties in 2004 were $4,435,709. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01 Financial
Statements and Exhibits </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) Exhibits </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1
Asset Purchase Agreement dated March 4, 2005 between Tengasco, Inc. and BearPetroleum,
<BR>Inc.</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2
Assignment and Bill of Sale between Tengasco, Inc. and Bear Petroleum, Inc.
<BR>99.1    Press Release dated March 9, 2005</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1
Press Release dated March 9, 2005
<BR>   </FONT></P>






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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&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. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: March 9, 2005<br>Tengasco, Inc. </FONT></P>



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     <TD ALIGN="center"> By: <u>s/Jeffrey R. Bailey</u> <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jeffrey R. Bailey, <br>President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></tr>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></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": "05669755"}, "business-address": {"street1": "603 MAIN AVE", "street2": "SUITE 500", "city": "KNOXVILLE", "state": "TN", "zip": "37902", "phone": "4235231124"}, "mail-address": {"street1": "630 MAIN AVENUE", "street2": "SUITE 500", "city": "KNOXVILLE", "state": "TN", "zip": "37902"}}
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):
March 4, 2005
Tengasco, Inc.
(Exact
Name of Registrant as specified in its charter)
Commission File Number
0-20975
Tennessee
87-0267438
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification No.)
603 Main Avenue,
Suite 500, Knoxville, Tennessee 37902
(Address of Principal
Executive Office)
(865)523-1124
(Registrant's Telephone number)
Executive Office)
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))
1
Item 2.01 Completion of
Acquisition or Disposition of Assets
On
March 4, 2005, the Company sold its natural gas producing properties in Rush County,
Kansas to Bear Petroleum, Inc. for $2.4 million effective with gas production beginning
February 1, 2005. The sale involved fifty three producing gas wells and saltwater disposal
wells, and the associated gathering system as well as the underlying leases and rights of
way, being all of the gas wells, leases, and gathering system in Rush County, Kansas that
were purchased from AFG Energy by the Company in 1998.
The
sale did not involve any of the Company's oil producing properties and leases in
Kansas. The net proceeds of the sale were applied to reduce the principal outstanding on
the Company's promissory note dated May 18, 2004 payable to Dolphin Offshore Partners, L.P. ("Dolphin") from the original
amount of $2.5 million to $150,000 as of March 4, 2005. It is anticipated that the balance
of the note will be paid down from the Company's operations. Interest on the note to
Dolphin is 12% per annum payable monthly which prior to reduction of the principal was $
25,000 per month. Dolphin is the largest holder of the Company's common stock and
Peter E. Salas, controlling person of Dolphin, is a Director of the Company.
In
2004, the wells that were sold produced 261,466 Mcf of gas resulting in revenues to the
Company of approximately $868,892. The Company's revenues from all of its Kansas
properties in 2004 were $4,435,709.
Item 9.01 Financial
Statements and Exhibits
(c) Exhibits
10.1
Asset Purchase Agreement dated March 4, 2005 between Tengasco, Inc. and BearPetroleum,
Inc.
10.2
Assignment and Bill of Sale between Tengasco, Inc. and Bear Petroleum, Inc.
99.1    Press Release dated March 9, 2005
99.1
Press Release dated March 9, 2005
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: March 9, 2005
Tengasco, Inc.
By:
s/Jeffrey R. Bailey
Jeffrey R. Bailey,
President
3