SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number__________
NOTIFICATION OF LATE FILING
(Check One): [_] Form 10-K [_] Form 11-K [_] Form 20-F [x] Form 10-Q
[_] Form N-SAR
For Period Ended: June 30, 2003
[_] 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:______________________________________
Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates: ________________________
PART I
REGISTRANT INFORMATION
Full name of registrant Tengasco, Inc.
Former name if applicable
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Address of principal executive office (Street and number)
603 Main Avenue Suite 500 __________________________________________________
City, state and zip code Knoxville, TN 37902__________________________________
PART II
RULE 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.)
| (a) The reasons described in reasonable detail in Part III of this | form
could not be eliminated without unreasonable effort or | expense; | | (b)
The subject annual report, semi-annual report, transition report | on Form
10-K, 20-F, 11-K or Form N-SAR, or portion thereof will
[x] | be filed on or before the 15th 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 why the Form 10-K, 11-K, 20-F 10-Q, N-SAR
or the transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
Registrant is unable to complete its financial statements in time to meet the
August 14, 2003 filing date. The delay in completing the statements has been the
result of our re-evaluation of assumption and estimates in relation to SFAS 143
..
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 report(s) been filed? If the 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.
CComparison of the Quarters Ending June 30 2003 and 2002
The Company recognized $1,436,848 in oil and gas revenues from its Kansas
Properties and the Swan Creek Field during the second quarter of 2003 compared
to $1,233,473 in the second quarter of 2002. The increase in revenues was due to
an increase in price from oil and gas sales. Oil prices averaged $26.47 per
barrel in 2003 as compared to $23.73 in 2002. Gas prices averaged $5.00 per Mcf
in 2003 as compared to $3.30 for 2002. The Swan Creek Field produced 95,389 Mcf
and 192,960 Mcf in the second quarter of 2003 and 2002, respectively. This
decrease was due to natural declines in production which could not be offset as
the Company did not have the funds to continue drilling new wells, due to it's
dispute with it's primary lender, Bank One NA. The decrease in pipeline
transportation revenues is directly related to the decrease in gas volumes.
The Company realized a net loss attributable to common shareholders of $786,802
(($.07) per share of common stock) during the second quarter of 2003 compared to
a net loss in the second quarter of 2002 to common shareholders of $984,139
(($.09) per share of common stock)
------ Tengasco, Inc.
(Name of Registrant as Specified in Charter) Has caused this
notification to be signed on its behalf by the undersigned thereunto duly
authorized.
Date By: /s/ Mark A. Ruth- Chief Financial Officer
August 14, 2003 ---------------------------------------------
INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and
title of the person signing the form shall be typed or printed beneath the
signature. If the statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer), evidence of
the representative's authority to sign on behalf of the registrant shall be
filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (see 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 of the General Rules and
Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and Exchange
Commission, Washington, DC 20549, in accordance with Rule 0-3 of the General
Rules and Regulations under the Act. The information contained in or filed with
the form will be made a matter of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of the
registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but
need not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to difficulties
in electronic filing should comply with either Rule 201 or Rule 202 of
Regulation S-T or apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T.