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        <h1 align="center"><font face="Times New Roman, Times, Serif" size="4">UNITED
        STATES</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Minor Center Bold" FSL="Default" --><a name="A002"></a>

        <h1 align="center"><font face="Times New Roman, Times, Serif" size="2">SECURITIES and
        EXCHANGE COMMISSION</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Major Center Bold" FSL="Default" --><a name="A003"></a>

        <h1 align="center"><font face="Times New Roman, Times, Serif" size="4">WASHINGTON, D.C.
        20549</font></h1>
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        <h1 align="center"><font face="Times New Roman, Times, Serif" size="4">FORM 8-K</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Major Center Bold 1" FSL="Default" --><a name="A005"></a>

        <h1 align="center"><font face="Times New Roman, Times, Serif" size="3">Current Report
        Pursuant to Section 13 or 15(d) of theSecurities<br>
        Exchange Act of 1934</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Major Center Bold 1" FSL="Default" --><a name="A006"></a>

        <h1 align="center"><font face="Times New Roman, Times, Serif" size="3">Date of Report (Date
        of Earliest Event Reported):</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Major Center Bold 1" FSL="Default" --><a name="A007"></a>

        <h1 align="center"><font face="Times New Roman, Times, Serif" size="3">December 17,
        2007</font></h1>
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        <p align="center"><font face="Times New Roman, Times, Serif" size="2"><u>Tengasco,
        Inc.(Exact<br>
        Name of Registrant as specified in its charter)</u></font></p>
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        <p align="center"><font face="Times New Roman, Times, Serif" size="2">Commission File
        Number 1-15555</font></p>
        Tennessee 87-0267438 (State or other jurisdiction of (I.R.S. Employer Identification No.)
        incorporation or organization)
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        <p align="center">
        <font face="Times New Roman, Times, Serif" size="2"><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</em>
        10215 Technology Drive N.W., Suite 301, Knoxville, Tennessee 37932</font></p>
        <!-- MARKER FORMAT-SHEET="Head Minor Center" FSL="Default" --><a name="A011"></a>

        <p align="center"><font face="Times New Roman, Times, Serif" size="2">(Address of Principal
        Executive Office</font></p>
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                    <p align="center">&nbsp;</p>
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                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(865)&nbsp;
                    675-1554</font> (Registrant&rsquo;s Telephone number)</p>
                </td>
            </tr>
        </table>
        <br>
        <!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->

        <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>
        Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
        Sheet Arrangement of a Registrant <!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->

        <p>
        <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
        December 17, 2007, Tengasco, Inc. (the &ldquo;Company&rdquo;) executed an assignment of a
        revolving senior credit facility between the Company and Citibank Texas, N.A.to Sovereign
        Bank (&ldquo;Sovereign&rdquo;) of Dallas, Texas as requested by the Company.</font></p>
        <!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->

        <p>
        <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
        the facility as assigned to Sovereign, loans and letters of credit will be available to the
        Company on a revolving basis in an amount outstanding not to exceed the lesser of
        $20,000,000 or the borrowing base in effect from time to time. The Company&rsquo;s initial
        borrowing base with Sovereign was set at $7.0 million, an increase from the borrowing base
        of $3.3 million in effect with Citibank prior to the assignment.</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
        initial borrowing on December 17, 2007 by the Company under the new facility with Sovereign
        was approximately $4.2 million to bear interest at a floating rate equal to prime as
        published in the Wall Street Journal plus 0.25%, resulting in a current rate of interest of
        approximately 7.5%. Interest only is payable during the term of the loan and the principal
        balance of the loan is due December 31, 2010. The facility as assigned is secured by
        substantially all of the Company&rsquo;s producing and non-producing oil and gas properties
        and pipeline and the Company&rsquo;s methane project assets.</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
        Company used a portion of the $4.2 million borrowed from Sovereign to pay off the $3.3
        million it previously borrowed from Citibank. The remaining $900,000 borrowed from
        Sovereign was used to pay bank fees and attorney fees relating to the assignment in the
        amount of approximately $75,000 and the balance of approximately $825,000 was used to pay a
        portion of the purchase price for equipment to be utilized in the methane extraction
        facility currently under construction in Carter Valley, Tennessee by the Company&rsquo;s
        wholly-owned subsidiary, Manufactured Methane Corporation (&ldquo;MMC&rdquo;). It is
        anticipated that the Carter Valley methane project will cost approximately $4.1 million,
        which includes treatment equipment, pipeline construction, compression and controls. To
        date, MMC has paid approximately $2.6 million or 63% of the total expected methane project
        costs of which approximately $1.8 million has been paid from the Company&rsquo;s operating
        revenues. The Company anticipates that most of the remaining balance of the methane project
        costs will also be paid from the Company&rsquo;s cash flow.</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
        information in this Form 8-K (including Exhibit 99.1) shall not be deemed
        &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934 (the
        &ldquo;Exchange Act&rdquo;) or otherwise subject to the liabilities of that section, nor
        shall it be deemed incorporated by reference in any filing under the Securities Act of 1933
        or the Exchange Act, except as expressly set forth by specific reference in such a
        filing.</font></p>
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        <h1 align="left"><font face="Times New Roman, Times, Serif" size="3">Item 9.01 Financial
        Statements and Exhibits</font></h1>
        <!-- MARKER FORMAT-SHEET="Head Left" FSL="Default" --><a name="A013"></a>

        <p align="left"><font face="Times New Roman, Times, Serif" size="2">(c) Exhibits</font></p>
        <!-- MARKER FORMAT-SHEET="Head Left" FSL="Default" --><a name="A014"></a>

        <p align="left"><font face="Times New Roman, Times, Serif" size="2">99.1 Press Release
        dated December 21, 2007</font></p>
        <!-- MARKER FORMAT-SHEET="Head Major Center Bold" FSL="Default" --><a name="A015"></a>

        <h1 align="center">
        <font face="Times New Roman, Times, Serif" size="4">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: December 21,
        2007</font></p>
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        <p align="left">
        <font face="Times New Roman, Times, Serif" size="2"><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</em>
        Tengasco, Inc.</font></p>
        <!-- MARKER FORMAT-SHEET="Head Sub 3 Left" FSL="Default" --><a name="A018"></a>

        <p align="left">
        <font face="Times New Roman, Times, Serif" size="2">By:
        <u>s/Jeffery R. Bailey</u><br>Jeffrey R. Bailey,<br>ChiefExecutive Officer&nbsp;</font></p>

        <p align="left">
        <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></p>
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UNITED
        STATES
SECURITIES and
        EXCHANGE COMMISSION
WASHINGTON, D.C.
        20549
FORM 8-K
Current Report
        Pursuant to Section 13 or 15(d) of theSecurities
Exchange Act of 1934
Date of Report (Date
        of Earliest Event Reported):
December 17,
        2007
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 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
        Sheet Arrangement of a Registrant
On
        December 17, 2007, Tengasco, Inc. (the "Company") executed an assignment of a
        revolving senior credit facility between the Company and Citibank Texas, N.A.to Sovereign
        Bank ("Sovereign") of Dallas, Texas as requested by the Company.
Under
        the facility as assigned to Sovereign, loans and letters of credit will be available to the
        Company on a revolving basis in an amount outstanding not to exceed the lesser of
        $20,000,000 or the borrowing base in effect from time to time. The Company's initial
        borrowing base with Sovereign was set at $7.0 million, an increase from the borrowing base
        of $3.3 million in effect with Citibank prior to the assignment.
The
        initial borrowing on December 17, 2007 by the Company under the new facility with Sovereign
        was approximately $4.2 million to bear interest at a floating rate equal to prime as
        published in the Wall Street Journal plus 0.25%, resulting in a current rate of interest of
        approximately 7.5%. Interest only is payable during the term of the loan and the principal
        balance of the loan is due December 31, 2010. The facility as assigned is secured by
        substantially all of the Company's producing and non-producing oil and gas properties
        and pipeline and the Company's methane project assets.
The
        Company used a portion of the $4.2 million borrowed from Sovereign to pay off the $3.3
        million it previously borrowed from Citibank. The remaining $900,000 borrowed from
        Sovereign was used to pay bank fees and attorney fees relating to the assignment in the
        amount of approximately $75,000 and the balance of approximately $825,000 was used to pay a
        portion of the purchase price for equipment to be utilized in the methane extraction
        facility currently under construction in Carter Valley, Tennessee by the Company's
        wholly-owned subsidiary, Manufactured Methane Corporation ("MMC"). It is
        anticipated that the Carter Valley methane project will cost approximately $4.1 million,
        which includes treatment equipment, pipeline construction, compression and controls. To
        date, MMC has paid approximately $2.6 million or 63% of the total expected methane project
        costs of which approximately $1.8 million has been paid from the Company's operating
        revenues. The Company anticipates that most of the remaining balance of the methane project
        costs will also be paid from the Company's cash flow.
The
        information in this Form 8-K (including Exhibit 99.1) shall not be deemed
        "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the
        "Exchange Act") or otherwise subject to the liabilities of that section, nor
        shall it be deemed incorporated by reference in any filing under the Securities Act of 1933
        or the Exchange Act, except as expressly set forth by specific reference in such a
        filing.
Item 9.01 Financial
        Statements and Exhibits
(c) Exhibits
99.1 Press Release
        dated December 21, 2007
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: December 21,
        2007
Tengasco, Inc.
By:
s/Jeffery R. Bailey
Jeffrey R. Bailey,
ChiefExecutive Officer