Tengasco Inc. reported financial results for the third quarter and first nine months ended September 30, 2009. The company realized net loss attributable to common shareholders of $0.4 million or $0.01 per share of common stock during the third quarter of 2009, compared to a net income in the third quarter of 2008 to common shareholders of $1.6 million or $0.03 per share of common stock. The company recognized $2.6 million in revenues during the third quarter of 2009 compared to $5.1 million in the third quarter of 2008. The decrease in Revenue was due to a sharp decrease in oil prices in 2009. The company recognized $6.8 million in revenues during the first nine months of 2009 compared to $13.0 million in the first nine months of 2008. The decrease in Revenue was due to a decrease in oil prices in 2009. The company realized a net loss attributable to common shareholders of $0.9 million or $0.02 per share of common stock during the first nine months of 2009, compared to a net income in the first nine months of 2008 to common shareholders of $8.8 million or $0.15 per share of common stock. Approximately $3.4 million [38%] of this income was attributable to the net effects of recognizing the company's deferred tax assets in 2008. The company recorded the remaining net operating loss carry forwards of $5.2 million in the first nine months of 2008 and recorded non-cash income tax expense of $1.8 million for the first nine months net income.

Tengasco Inc. announced that on September 28, 2009 the Board of Directors appointed Michael J. Rugen as the Chief Financial Officer of the company. Mr. Rugen is 49 years old and is a Certified Public Accountant (Texas) and has been involved in the financial aspects of the oil and gas business since 1982. From 1999 to 2007 he provided financial consulting services with Jefferson Wells International and UHY Advisors in Houston, and from 2007 until joining the company served as Vice President, Accounting and Finance, of Nighthawk Oilfield Services in Houston. The company announced that on September 24, 2009 Mark A. Ruth delivered to the company his letter of resignation as Chief Financial Officer of the company effective immediately. Mr. Ruth had served in this capacity since 1998.

Tengasco Inc. announced that on August 27, 2009, the company entered into a five-year fixed price gas sales contract with Atmos Energy Marketing, LLC. The agreement provides for the sale of up to 600 MMBtu per day of gas produced by facilities which extract the methane component of landfill gas installed by the company's subsidiary, Manufactured Methane Corp., at the Carter Valley Landfill in Church Hill, Tennessee. The contract is effective beginning with September 2009 gas production and ends July 31, 2014. The agreed contract price of approximately $6.00 per MMBtu is a premium to the five-year strip price for natural gas on the NYMEX futures market. MMC currently produces an average of about 500 MMBtu per day from the Carter Valley landfill, equivalent to about 500,000 cubic feet of methane gas, and this is expected to increase with the growth of the Carter Valley Landfill.