About Tengasco

Tengasco, Inc. engages in the business of exploration for and production of oil and natural gas in Kansas. The company’s primary area of exploration and production is in Kansas. The Kansas Properties The company’s operated properties in Kansas are located in central Kansas and included 174 producing oil wells, 13 shut-in wells, and 37 active disposal wells (the ‘Kansas Properties’) as of December 31, 2019. The company has onsite production management and field personnel working out of the Hays, Kansas office. The company maintains a 100% working interest in most of its wells in Kansas. During 2019, the company participated in drilling two operated wells, one of which was completed as a producing well, and one non-operated wells, which was completed as a producing well. The company’s gross operated oil production in Kansas was approximately 110.9 MBbl in 2019. The company has a ten well drilling program with Hoactzin Partners, L.P., consisting of wells to be drilled on the company’s Kansas Properties. Tennessee Properties On October 24, 2006, the company signed a twenty-year Landfill Gas Sale and Purchase Agreement (the Agreement) with predecessors in interest of Republic Services, Inc. (Republic). The company assigned its interest in the Agreement to MMC. The Agreement provided that MMC would purchase the naturally produced gas stream being collected at the Carter Valley municipal solid waste landfill owned and operated by Republic in Church Hill, Tennessee. The company installed a proprietary combination of advanced gas treatment technology to extract the methane component of the purchased gas stream. Principal Products or Services and Markets The principal markets for the company’s crude oil are local refining companies. Crude oil produced by the company in Kansas is sold at or near the wells to Coffeyville Resources Refining and Marketing, LLC (Coffeyville) in Kansas City, Kansas; and to CHS McPherson Refinery (CHS) in McPherson, Kansas. Both Coffeyville and CHS are responsible for transportation to their refineries of the oil they purchase. Electricity generated at the company’s Manufactured Methane Corporation site in Tennessee was sold to Holston Electric Cooperative and Tennessee Valley Authority. Other Areas of Development The company would continue to review potential transactions involving producing properties and undeveloped acreage in Kansas, as well as acquisition and drilling opportunities in other states. Patents and Trademarks In 2010, the company’s subsidiary, Manufactured Methane Corporation, was granted United States Patent No. 7,815,713 for Landfill Gas Purification Method and System, pursuant to application filed January 10, 2007. The patent term is for twenty years from filing date plus adjustment period of 595 days due to the length of the review process resulting in grant of the patent. The patent is for the process designed and utilized by Manufactured Methane Corporation at the Carter Valley landfill facility. History Tengasco, Inc. was founded in 1916.