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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER 0-20975
CUSIP NUMBER 88033R 20 5
(Check One): /X/ Form 10-K / / Form 20-F / / Form 11-K
/ / Form 10-Q / / Form N-SAR
For Period Ended: December 31, 1999
/ / Transition Report on Form 10-K
/ / Transition Report on Form 20-F
/ / Transition Report on Form 11-K
/ / Transition Report on Form 10-Q
/ / Transition Report on Form N-SAR
For the Transition Period Ended:
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
Tengasco, Inc.
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Full Name of Registrant
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Former Name if Applicable
630 Main Avenue -- Suite 500
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Address of Principal Executive Office (Street and Number)
Knoxville, TN 37902
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City, State and Zip Code
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PART II - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
/X/ (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
/X/ (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be
filed on or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report or transition report on Form
10-Q, or portion thereof will be filed on or before the fifth calendar
day following the prescribed due date; and
/ / (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 11-K, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
Registrant is unable to complete its financial statements in time to
file by the March 30, 2000 filing date. The delay in completing the financial
statements is due both the Registrant's inability to provide the Registrant's
auditors with certain information and the auditor's inability to complete the
financial statements within the required time period. It is expected that the
audit will be completed shortly and the Form 10-KSB will be filed by the end of
the extension period.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Kenneth N. Miller (212) 944 - 2200
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) been filed? If answer is no,
identify report(s). /X/ Yes / / No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
/X/ Yes / / No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Tengasco, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: March 28, 2000 By /s/ Terry W. Piesker
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Terry W. Piesker
President
Tengasco, Inc. (the "Company") expects to have a loss for the year
ended December 31, 1999 in the amount of $2,671,923 as opposed to a loss for the
year ended December 31, 1998 in the amount of $3,204,394.
The Company produced revunues of $3,017,252 from its oil and gas wells
in Kansas and its Swan Creek location in Tennessee. Production costs from these
wells was $2,564,932. The decrease in loss for the year ended December 31, 1999
is attributable primarily to the increase in revenues due to the increase in oil
prices in 1999; however, oil production in Swan Creek did increase from 11,222
barrels in 1998 to 21,964 barrels in 1999. Revenues in 1999 were offset by
increased production costs and taxes of $2,564,932 compared to $1,943,944 in
1998. These increases in production costs were attributable primarily to well
workover costs on several wells in Kansas. Interest expense of $417,497 in 1999
was $157,409 less than previous year due to less debt and funding transactions.
Depletion, depreciation and amortization, general and administrative costs,
public relations and legal and accounting expense in total were $2,706,746 in
1999 as compared to $2,661,068 in 1998
