UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
REPORT ON FORM 10-K
(Mark one)
/X/ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended DECEMBER 31, 2002 or
/ / Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to .

                           Commission File No. 0-20975

                                 TENGASCO, INC.
                (NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

         TENNESSEE                                               87-0267438
(STATE OR OTHER JURISDICTION OF                               (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                               IDENTIFICATION NO.)

                603 MAIN AVENUE, KNOXVILLE, TENNESSEE             37902
               (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)         (ZIP CODE)	

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (865) 523-1124.
Securities registered pursuant to Section 12(b) of the Act: NONE.
Securities registered pursuant to Section 12(g) of the Act:

COMMON STOCK, $.001 PAR VALUE PER SHARE.
Indicate by checkmark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes /X/ No / /
Indicate by checkmark if disclosure of delinquent filers in response to
Item 405 of Regulation SK is not contained in this form and no disclosure will be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]
State the aggregate market value of the voting stock held by non-affiliates (based on the closing price on March 3, 2003 of $1.39): $8,378,799.
Indicate by checkmark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act): Yes / / No /X/
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second quarter (based on the closing price on June 28, 2002 of $2.80): $18,994,161.
State issuer's revenues for its most recent fiscal year: $5,700,478
State the number of shares outstanding of the registrant's $.001 par value common stock as of the close of business on the latest practicable date (March 3, 2003): 11,927,004
Documents Incorporated By Reference: None.
TABLE OF CONTENTS

                                                                                                               Page
PART I

         Item 1.     Business.....................................................................................1

         Item 2.     Description Of Property.....................................................................22

         Item 3.     Legal Proceedings...........................................................................29

         Item 4.     Submission of Matters to a Vote of Security Holders.........................................32

PART II

         Item 5.     Market for Registrant's Common Equity and Related Stockholder Matters.......................33

         Item 6.     Selected Financial Data.....................................................................34

         Item 7.     Management's Discussion and Analysis of Financial Condition and Results of
                         Operation...............................................................................35

         Item 7A.    Quantative and Qualitative Disclosures About Market Risk....................................46

         Item 8.     Financial Statements and Supplementary Data.................................................48

         Item 9.     Changes in and Disagreements with Accountants on Accounting and Financial
                         Disclosure..............................................................................48

PART III

         Item 10.   Directors and Executive Officers of the Registrant...........................................49

         Item 11.   Executive Compensation.......................................................................55

         Item 12.   Security Ownership of Certain Beneficial Owners and Management...............................58

         Item 13.   Certain Relationships and Related Transactions...............................................61

         Item 14.    Controls and Procedures.....................................................................63

PART IV

         Item 15.   Exhibits, Financial Statement Schedules, and Reports on Form 8-K.............................64

SIGNATURES.......................................................................................................71	

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FORWARD LOOKING STATEMENTS
The information contained in this Report, in certain instances, includes forward-looking statements. When used in this document, the words budget, budgeted, anticipate, expects, estimates, believes, goals or projects and similar expressions are intended to identify forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected by such forward-looking statements. Important factors that could cause actual results to differ materially from those projected in the forward-looking statements include, but are not limited to, the following:
production variances from expectations, volatility of oil and gas prices, the need to develop and replace reserves, the substantial capital expenditures required for construction of pipelines and the drilling of wells and the related need to fund such capital requirements through commercial banks and/or public securities markets, environmental risks, drilling and operating risks, risks related to exploration and development drilling, the uncertainty inherent in estimating future oil and gas production or reserves, uncertainty inherent in litigation, competition, government regulation, and the ability of the Company to implement its business strategy, including risks inherent in integrating acquisition operations into the Company's operations.
PART I
ITEM 1.BUSINESS.
OVERVIEW
The Company is in the business of exploring for, producing and transporting oil and natural gas in Tennessee and Kansas. The Company leases producing and non-producing properties with a view toward exploration and development. Emphasis is also placed on pipeline and other infrastructure facilities to provide transportation services. The Company utilizes state-of-the-art seismic technology to maximize the recovery of reserves.
The Company's activities in the oil and gas business commenced in May 1995 with the acquisition of oil and gas leases in Hancock, Claiborne, Knox, Jefferson and Union Counties in Tennessee. The Company's current lease position in these areas in Tennessee is approximately 41,088 acres. See, "Item 2, Description of Properties."
To date, the Company has been drilling primarily on a portion of its Tennessee leases, known as the Swan Creek Field in Hancock County (the "Swan Creek Field or Leases") focused within the Knox formation, one of the geologic formations in the Field. The Company currently has 22 producing gas wells and 6 producing oil wells in the Swan Creek which produce approximately 1.4 MMcf of natural gas per day and 2,200 barrels of oil per month. Revenues from the Swan Creek Field were approximately $200,000 per month during 2002.
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On March 8, 2001, the Company's wholly owned subsidiary, Tengasco Pipeline Corporation ("TPC"), completed a 65 mile intrastate pipeline from the Swan Creek Field to Kingsport, Tennessee at a cost of approximately $15.3 million. Until the Company's pipeline was completed in 2001, the gas wells that had been drilled in the Swan Creek Field could not be placed into actual production and the gas transported and sold to the Company's industrial customers in Kingsport. The Company initially believed that when actual production began from the Swan Creek wells that the volumes of natural gas from the Swan Creek Field would be significantly higher than the rates of actual production that have occurred since production began. The reasons for the occurrence of lower production volumes include initial production problems caused by naturally occurring fluids entering the well bore, the slower than anticipated rate of production of the wells due to underground reservoir characteristics that became apparent only when the wells were placed into actual production, and the inability of the Company to drill additional wells due to capital acquisition problems and difficulties with the Company's primary lender, Bank One, N.A. of Houston, Texas ("Bank One"). The Company has taken steps to minimize fluid problems in existing wells by mechanical means, and to prevent them in any future wells by drilling and completion techniques. However, management believes that the only way to increase production volumes of gas from this field is to drill additional wells to most efficiently drain the underground reservoirs of the large reserves of gas, and the Company's ability to do so is dependent upon raising the additional capital for drilling. Although no assurances can be given, the current management of the Company believes that it will be able to resolve the difficulties currently preventing it from drilling additional wells and increasing production volumes of natural gas from the Swan Creek Field.
Effective December 31, 1997, the Company acquired from AFG Energy, Inc. ("AFG"), a private company, approximately 32,000 acres of leases in the vicinity of Hays, Kansas (the "Kansas Properties"). Included in the acquisition which closed on March 5, 1998 were 273 wells, including 208 working wells, of which 149 were producing oil wells and 59 were producing gas wells, a related 50 mile pipeline and gathering system, 3 compressors and 11 vehicles. The total purchase price of these assets was approximately $5.5 million, which consisted of $3 million in cash and seller financing of $2.5 million. The seller financing portion of the purchase price was refinanced by Arvest United Bank of Oklahoma City, Oklahoma as evidenced by a note dated November 23, 1999 in the amount of $1,883,650 to be paid in monthly installments of principal and interest over a three year period. This obligation was subsequently satisfied from the proceeds of a line of credit received by the Company from Bank One. See, "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operation."
The Kansas Properties are currently producing approximately 800,000 cubic feet of natural gas and 336 barrels of oil per day. Net revenues from the Kansas Properties were approximately $275,000 per month during 2002.
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HISTORY OF THE COMPANY
The Company was initially organized under the laws of the State of Utah on April 18, 1916, under the name "Gold Deposit Mining & Milling Company." The Company subsequently changed its name to Onasco Companies, Inc. The Company was formed for the purpose of mining, reducing and smelting mineral ores. On November 10, 1972, the Company conveyed to an unaffiliated entity substantially all of the Company's assets and the Company ceased all business operations. From approximately 1983 to 1991, the operations of the Company were limited to seeking out the acquisition of assets, property or businesses.
At a special meeting of stockholders held on April 28, 1995, the Company's stockholders voted: (i) to approve the execution of an agreement (the "Purchase Agreement") pursuant to which the Company would acquire certain oil and gas leases, equipment, securities and vehicles owned by Industrial Resources Corporation ("IRC")(1), a Kentucky corporation, in consideration of the issuance of 4,000,000 post-split (as described below) "unregistered" and "restricted" shares of the Company's common stock and a $450,000, 8% promissory note payable to IRC. The promissory note was converted into 83,799 shares of the Company's common stock in December 1995; (ii) to amend the Articles of Incorporation of the Company to effect a reverse split of the Company's outstanding $0.001 par value common stock on a basis of one share for two, retaining the par value at $0.001 per share, with appropriate adjustments being made in the additional paid-in capital and stated capital accounts of the Company; (iii) to change the name of the Company from "Onasco Companies, Inc." to "Tengasco, Inc."; and, (iv) to change the domicile of the Company from the State of Utah to the State of Tennessee by merging the Company into Tengasco, Inc., a Tennessee corporation, formed by the Company solely for this purpose.
The Purchase Agreement was duly executed by the Company and IRC, effective May 2, 1995. The reverse split, name change and change of domicile became effective on May 4, 1995, the date on which duly executed Articles of Merger effecting these changes were filed with the Secretary of State of the State of Tennessee; a certified copy of the Articles of Merger from the State of Tennessee was filed with the Department of Commerce of the State of Utah on May 5, 1995. Unless otherwise noted, all subsequent computations herein retroactively reflect this one for two reverse split.
During 1996, the Company formed TPC to manage the construction and operation of its pipeline, as well as other pipelines planned for the future.

(1) Malcolm E. Ratliff, the Company's former Chief Executive Officer, former Chairman of the Board of Directors and former Director, is the the sole shareholder of IRC.

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GENERAL
1. THE SWAN CREEK FIELD
Amoco Production Company ("AMOCO") during the late 1970's and early 1980's, after extensive geological and seismic studies, acquired approximately 50,500 acres of oil and gas leases in the Eastern Overthrust in the Appalachian Basin, including the area now referred to as the Swan Creek Field.
In 1982 AMOCO successfully drilled two significant natural gas discovery wells in the Swan Creek Field to the Knox Formation at approximately 5,000 feet of total depth. These wells, once completed, had a high pressure and apparent volume of deliverability of natural gas; however, in the mid-1980's a substantial decline in worldwide oil and gas prices occurred and the high cost of constructing a necessary 23 mile pipeline across three rugged mountain ranges and crossing the environmentally protected Clinch River from Sneedville to the closest market in Rogersville, Tennessee was cost prohibitive.
In 1987, AMOCO farmed out its leases to Eastern American Energy Company which held the leases until July 1995. The Company became aware of a law adopted by the Tennessee legislature which enabled the Company to lease all of AMOCO's prior acreage. The Company filed for a declaratory judgment as to its right to lease AMOCO's prior acreage. The Company was ultimately successful in winning all right, title and interest in all of AMOCO's prior leases in a precedent-setting Supreme Court case.
In July 1995 after completion of the Purchase Agreement with IRC, the Company acquired the Swan Creek Leases. These leases provide for a landowner royalty of 12.5%.
A. SWAN CREEK PIPELINE FACILITIES
In July 1998 the Company completed the first phase ("Phase I") of its pipeline in the Swan Creek Field, a 30 mile pipeline made of 6 and 8 inch steel pipe running from the Swan Creek Field into the main city gate of Rogersville, Tennessee. With the assistance of the Tennessee Valley Authority ("TVA"), the Company was successful in utilizing TVA's right-of-way along its main power line grid from the Swan Creek Field to the Hawkins County Gas Utility District located in Rogersville. The cost of constructing Phase I of the pipeline was approximately $4,200,000.
In April 2000, TPC commenced construction of Phase II of the Company's pipeline. This was an additional 35 miles of 8 and 12 inch pipe laid at a cost of approximately $11.1 million extending the Company's pipeline from a point near the terminus of Phase I and connecting to an existing pipeline and meter station at Eastman Chemical Company's chemical plant. The pipeline system was completed on March 8, 2001 at an overall cost of approximately $15.3 million and extends 65 miles from the Company's Swan Creek Field to Kingsport, Tennessee.
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B. SWAN CREEK CONTRACTUAL ARRANGEMENTS
On November 18, 1999, the Company entered into an agreement with Eastman Chemical Company ("Eastman") which provides that the Company will deliver daily to Eastman's plant in Kingsport a minimum of the lesser of (i) 5,000 MMBtu's (MMBtu means one million British thermal units which is the equivalent of approximately one thousand cubic feet of gas) or (ii) forty percent (40%) of the natural gas requirements of Eastman's plant and a maximum of 15,000 MMBtu's per day. Under the terms of the agreement, the Company had the option to install facilities to treat the delivered gas so that the total non-hydrocarbon content of the delivered gas is not greater than two percent (2%). This would have allowed the gas to be used in certain processes in the Eastman plant requiring low levels of non-hydrocarbons. If the Company elected to perform this option by installing additional facilities, the minimum daily amount of gas to be purchased by Eastman from the Company would increase to the lesser of (i)10,000 MMBtu's or (ii) eighty percent (80%) of the natural gas requirements of Eastman's chemical plant.
On March 27, 2000, the Company and Eastman signed an amendment to the agreement permitting the Company a further option with respect to the allowable level of non-hydrocarbons in the delivered gas. This amendment gives the Company the further option to tender gas without treatment, at a minimum volume of 10,000 MMBtu's per day, in consideration of which the Company agrees to accept a price reduction of five cents per MMBtu for the volumes per day between 5,000 and 10,000 MMBtu's per day under the pricing structure in place under the original agreement. To date, none of the gas sold by the Company to Eastman exceeds the allowable level of non-hydrocarbons permitted under the agreement and does not require treatment.
Under the agreement as amended March 27, 2000, Eastman agreed to pay the Company the index price plus $0.10 for all natural gas quantities up to 5,000 MMBtu's delivered per day, the index price plus $0.05 for all quantities in excess of 5,000 MMBtu's per day and the index price for all quantities in excess of 15,000 MMBtu's per day. The index price means the price per MMBtu published in McGraw-Hill's INSIDE F.E.R.C Gas Market Report equal to the Henry Hub price index as shown in the table labeled Market Center Spot Gas Prices.
The agreement with Eastman is for a term of twenty years and will be automatically extended, if the parties agree, for successive terms of one year. The initial term of the agreement commenced upon the Company's completion of construction of Phase II of its pipeline and connection to Eastman's facilities and once commercial operation of that facility was approved which was in March 2001.
On January 25, 2000, TPC, signed a franchise agreement to install and operate new natural gas utility services to residential, commercial and industrial users in Hancock County, Tennessee for the Powell Valley Utility District. The Powell Valley District had no existing natural gas facilities and the system to be installed by TPC was intended to initially extend to schools and small customers, and gradually be expanded over time to
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serve as many of the 6,900 residents of the County as is economically feasible. TPC purchases gas from the Company on behalf of the District which is to be resold at an average retail price of about $8.00 Mcf. Under the franchise agreement, which has an initial term of ten years and may be renewed for an additional ten years, TPC will receive 95% of the gross proceeds of the sale of gas for its services under the agreement. In June, 2000, TPC began installation of the necessary facilities to begin to serve up to 1,500 residential and industrial consumers in the City of Sneedville, county seat of Hancock County. The Company's existing eight inch main line from its Swan Creek Field passes through the city limits of Sneedville. A one-half mile of interconnecting pipeline from the Company's existing pipeline was installed, as well as an additional four miles of pipeline as the initial phase of the distribution system. The construction was completed and delivery of initial volumes of gas into the system from the Swan Creek field occurred on December 27, 2000. The cost of construction of these facilities was approximately $133,000. Upon enactment of initial rate schedules by the Powell Valley Utility District, initial sales began in January 2001 to a small number of residential and small commercial customers. TPC contracted with the City of Sneedville to conduct billing and installation activities in connection with the day to day operation of this system.
On March 11, 2002, the Company began delivering gas to its first commercial customer in a new industrial park in Sneedville, Kiefer Built, Inc, an Iowa based manufacturer of livestock and industrial trailers. The Company hopes to be able to supply gas to other customers who may move into that industrial park. At this time, however, no gas sales agreements for large volume or base load sales have been signed and there can be no assurances that such agreements will be signed and if signed, it is not possible to predict when such sales may begin or what the overall volumes of gas sold may be. Due to the small number of existing customers and relatively high operating costs, the Company experienced a loss of approximately $35,000 attributable to the operation of this system in 2002. The Company intends to either expand the operation of this system so as to increase revenues or to sell these assets to neighboring utilities or the City of Sneedville. In the event of such a sale, the Company could still sell gas to the Powell Valley Utility District.
On March 30, 2001, the Company signed a contract to supply natural gas to BAE SYSTEMS Ordnance Systems Inc. ("BAE"), operator of the Holston Army Ammunition Plant in Kingsport, Tennessee for a period of twenty years. Natural gas is used at the Holston Army ammunition facility to fire boilers and furnaces for steam production and process operations utilized in the manufacture of explosives by BAE for the United States military. Under the agreement, BAE's daily purchases of natural gas may be between 1.8 million and 5 million cubic feet, and volume could increase significantly over the life of the agreement as BAE conducts additional operations at the Holston facility. The contract calls for a price based on the monthly published index price for spot sales of gas at the Henry Hub plus five cents per MMBtu in the same manner as the price is calculated in the contract between the Company and Eastman.
The Company has the only gas pipeline located on the grounds of the 6,000-acre Holston facility. A portion of the Holston facility is being developed by BAE as the new
6
Holston Business and Technology Park which will serve as a location for additional commercial and industrial customers. The Company's presence at the Holston Business and Technology Park will provide the availability of gas service to other customers and is considered by BAE to be an important factor in the development of the Park, as well as the source of potential new customers for the Company.
C. SWAN CREEK PRODUCTION AND DEVELOPMENT
The Company began delivering gas through its pipeline to BAE on April 4, 2001 and to Eastman on May 24, 2001. Daily production in June 2001 was 4,936.2 Mcf and in July 2001 daily production averages increased to 5,497 Mcf per day. However, the Company was unable to maintain these production levels for the remainder of 2001 and for 2002. This was due primarily to three factors: initial fluid problems in some wells; natural and expected production declines from the type of reservoir that exists in the Swan Creek field; and the inability of the Company to offset expected natural declines in production by drilling new wells because of funding difficulties caused in large part by the dispute with the Company's primary lender Bank One. See, "Item 3 Legal Proceedings" and "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operation - Liquidity and Capital Resources" for a more detailed discussion of the Bank One matter.
As to the first of these problems, the Company experienced the in-flow of substantially more fluids in the existing wells than had been expected when they were first brought into continuous production in 2001. These fluids entered the wells from the boreholes. The fluids obstructed and significantly reduced the flow of gas from the existing wells in the Swan Creek Field and required the Company to perform substantial additional work and repairs to increase the production from existing wells. First, it was necessary to install a drip tank system to eliminate the fluids in the pipeline. Next, the Company had to install mechanical devices in many of the existing wells to reduce the fluid problems. As a result of this repair work, many of the existing wells had to be shut down while the repairs were made. Gas lifts have been installed in 15 of the Company's existing wells and act as mechanisms to remove the fluids and stabilize erratic behavior, such as large swings in individual well production. These devices have had a variety of effects on production totals of existing wells. On some individual wells production has more than doubled, while on others, although production totals have not increased, the monthly average production volume has become constant and more predictable. The techniques used in addressing these fluid problems will be applied in any future wells the Company drills in the Swan Creek Field and it is anticipated that this will minimize or prevent these problems.
Second, the Company experienced an expected and normal decline in initial production from existing wells in a newly-producing field, such as Swan Creek, related to natural fracture production and the associated decline to steadier flow rates from such a two-part system. The natural storage system for the Knox formation in the Swan Creek Field to which the Company's existing wells have been drilled and from which gas is currently being produced has both primary and secondary porosity distributed throughout the
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dolomite rock that makes up this complex formation. All types of gas wells experience some type of decline as production takes place. While the natural fractures enhance production cumulative overall and contribute to longevity, the initial production declines can be significant. These natural declines were expected and do not diminish either the shut in pressure or the Company's actual reserves in the Swan Creek Field. They do, however, suggest the production rates from some of the smaller wells will be slower, but production will last longer than expected.
Third, the declines in production have not been addressed and replaced by additional drilling as the Company had expected. In order for overall field production to remain steady or grow in a field such as the Swan Creek field, new wells must be brought online. Any of the new wells drilled by the Company would also experience the same harmonic (i.e. a relatively steep initial decline curve followed by longer periods of relatively flat or stable production) decline as does every natural gas well in a formation similar to the Knox formation, so continuous drilling is vital to maintaining or increasing earlier levels of production. Only two gas wells were added by the Company in 2002 due to the destabilized lending arrangements caused by the actions of Bank One and ongoing litigation regarding that matter. The Company anticipates that the natural decline of production from existing wells is now predictable in Swan Creek, that the total volume of the Company's reserves remains largely intact, and that these reserves can be extracted through existing wells and also by steady additional drilling brought on by reliable financial arrangements to fund drilling. The Company is hopeful that it will be able to obtain additional or replacement financing which will allow it to satisfy any indebtedness owed to Bank One and to drill additional wells; however, no assurances can be made that such financing will be obtained. See, "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operation - Liquidity and Capital Resources."
Due to natural and expected declines that continue to occur in ongoing production from any oil and gas well, some additional declines are expected to occur in production from the Company's existing wells in Swan Creek. The Company expects these natural declines to be less than the decline experienced to date, and that ongoing production from existing wells will tend to level off, in view of two factors: first, additional work, repairs, and recompletions have been performed on many of the existing wells; and second, the natural production decline from any well is greatest during the initial producing periods, which periods as to the Company's existing wells are now coming to the point where future production is expected to remain relatively level. Declines in production in the Swan Creek Field experienced in the last quarter of 2001 and the first quarter of 2002 began to stabilize in March 2002 at approximately 2.5 million cubic feet per day as these factors came into play. During the remainder of 2002, the Field continued to experience natural decline in production, although the rate of the decline was slower as would normally be expected from a field such as the Swan Creek Field.
Natural gas production from the Swan Creek field during 2002 averaged 2.567 million cubic feet per day in the first quarter; 2.553 million cubic feet per day in the second quarter; 2.224 million cubic feet per day in the third quarter; and, 1.467 million cubic
8
feet per day in the fourth quarter. This production history reflects a combination of natural and expected decline from initial production from existing wells, partially offset in the second and third quarters by the addition of production from two new gas wells. During the fourth quarter, no wells were added to offset the natural and expected declines in initial production from existing wells.
The Company also experienced reductions or declines in its sales volumes during certain times in 2002 for reasons unrelated to the production capability of its wells or fields. These declines were caused by reductions in the Company's customers' usage requirements or delivery restrictions. For example, during the period from June 28, 2002 through July 29, 2002, Eastman temporarily ceased its purchases from the Company because the Company was delivering most of its then available volumes to supply BAE's newly increased requirements resulting from BAE connecting additional gas burning facilities to its operations. The Company was unable to sell all volumes of gas exceeding BAE's increased requirements to Eastman, although the Company was able to produce these volumes, because Eastman requires a minimum for its meters that available volumes did not exceed, and a uniform rate of delivery that taking short term volumes would interrupt. During the time Eastman was not purchasing gas from the Company, BAE purchased additional volumes until BAE experienced a partial equipment outage on July 15, 2002 and reduced its purchased volumes. As a result of these occurrences, which were not within the control of the Company, the Company's sales volume to BAE and Eastman in July 2002 declined to 42,382 Mcf or an average of 1,367 Mcf per day. Eastman recommenced its purchases of gas from the Company on July 29, 2002. Due to the combination of factors listed above affecting the deliverability of gas from the Swan Creek Field, the Company remains capable of delivering gas to both BAE and Eastman such deliverability from the Swan Creek field of approximately 1.5 million cubic feet per day as of March 31, 2003. In order to increase the volumes of gas for delivery from the Swan Creek Field, the Company must drill additional wells. However, even if additional wells are drilled, the Company anticipates based on all information acquired to date that deliverability from the Swan Creek Field, once stabilized, may not exceed approximately 3 million cubic feet per day.
During 2002, the Company deepened or drilled and completed three wells in the Swan Creek field, the Colson No. 2, Paul Reed No. 8 and the Paul Reed No. 9, to offset in part the normal and expected natural decline in production from the Company's existing wells, and to thereby increase overall oil and gas production capability and deliverability to BAE and Eastman.
In May, 2002, The Colson No. 2, previously an oil well with low production levels, was deepened from approximately 3000 feet to 4,500 feet and successfully recompleted as a gas well. The Colson No. 2 produced 59 million cubic feet of gas in 2002 and is currently producing approximately 175,000 cubic feet per day.
On July 1, 2002, the Paul Reed No. 8 well was drilled to a total depth of 4,600 feet and although gas was present, based on information acquired during drilling, the
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Company determined that it was economically more beneficial to the Company in view of current oil prices and the anticipated levels of potential gas production, to complete this well as an oil well in the Murfreesboro and Stone River formations at a depth of 2500-3200 feet. The Paul Reed No. 8 well was successfully completed as an oil well and came in producing 100 barrels per day. This well is currently producing approximately 65 barrels per day.
The Company drilled the Paul Reed No. 9 well to a total depth of 4,860 feet and completed it as a gas well. The well was connected to the Company's pipeline in early August 2002 and is currently producing approximately 200,000 cubic feet of gas per day.
The completion stimulation techniques used on the Paul Reed No. 8 well were also used on two existing oil wells with moderate success. The Paul Reed No. 5 which had stopped production in March 2002 due to paraffin build-up was re-stimulated with a similar technique to enhance flow and limit build-up of paraffin. Additional production was achieved, with 828 barrels produced in July and 1,036 barrels in August 2002, and production continues to date. Altogether, in September 2002, Swan Creek oil production achieved its highest monthly total to date of 2,423 barrels, which increased again in October 2002 to 3,012 barrels of oil. Despite these increases, oil production in the Swan Creek Field declined from 30,323 barrels in 2001 to 20,122 barrels in 2002. This decline was due primarily to the cessation of production from one of the Company's wells, the Paul Reed No. 2 for mechanical reasons, although production from the Paul Reed No. 8 largely offset the lost volumes from the Paul Reed No. 2. which has been abandoned and will be plugged. The Company is presently reviewing key areas for drilling of new oil wells in the Swan Creek Field. In addition, chemical treatments to enhance production from existing wells are presently being studied and may be undertaken if the Company believes the results of such treatments will be cost effective.
During 2002, the Company had 30 producing gas wells and seven producing oil wells in the Swan Creek Field. Miller Petroleum, Inc. and others had a participating interest in twelve of these wells. See, "Item 2 - Description of Property - Property Location, Facilities, Size and Nature of Ownership." In total, the Company has completed 45 wells in the Swan Creek Field. The majority of these gas wells were drilled prior to the completion of the pipeline system so only test data was available prior to full production. Of the completed wells, twelve are shut-in or currently not producing because these wells are either not presently producing commercial quantities of hydrocarbons, or are awaiting workover or tie-in to the Company's pipeline. However, certain of these wells may not be tied-in to the Company's pipeline since the expense of connection over rough terrain may not be justified in view of the expected volumes to be produced.
The Company has not been able to drill a substantial number of additional gas or oil wells at Swan Creek in 2002 because it has not had sufficient funds to do so. Although the Company had expected to commence and continue its drilling program in 2002, the Company has been forced to postpone any further drilling until additional funds become available and the dispute between the Company and its primary lender
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Bank One are resolved. Because the Knox formation has been defined by the accumulation of data from previously drilled wells and seismic data, new locations and new wells when drilled are expected to contribute significantly to achieving increases to production totals. The Company believes that new wells can be strategically located due to the high degree of information it has developed from its existing wells as to the shape and key producing horizons of the Knox formation. The Company has obtained approval from the Tennessee regulatory authorities with jurisdiction over spacing of wells to drill additional wells on smaller spacing units in the field, effectively allowing more wells to be drilled and the reservoir to produce more quickly but with no decrease in the long term efficiency of production of the maximum amount of reserves from the reservoir. The Company is hopeful that production from these new wells will be in line with its more productive existing wells in the Swan Creek Field and will have a noticeable effect on increasing the total production from the Field. Although no assurances can be made, the Company believes that, once this work is completed and the new wells are drilled, production from the Swan Creek Field will increase. However, even if such production increase does occur, the deliverability from the Swan Creek Field will not be sufficient to meet the Company's daily requirements under the contracts with BAE and Eastman.
The Company also intends to commence drilling in other formations in its Swan Creek Field. To date, drilling in the Swan Creek Field has focused on production of gas primarily from the Knox formation. This is a lower Ordovician Dolomite, and the heart of the anticline structure at Swan Creek. However, immediately adjacent to this formation and shallower over these formations are other formations which the Company believes have a potential for gas production. The Stones River and Trenton formations hold the possibility for both oil and gas and have produced some gas to date. These Upper Ordovician formations have not been a primary target for gas production, but the shallower depths needed for drilling and the moderate gas production might make a potential subsequent source for additional gas production. With the completion of only one well in the Trenton formation which is producing approximately 50Mcf per day, the impact of these targets is proportional both to an area and an extent that is yet undefined. However, the Company can not proceed with such drilling until such time that it has the funds to so.
D. RELATIONSHIP WITH THE UNIVERSITY OF TENNESSEE
On March 17, 2000, the Company announced that it had entered into an agreement with the University of Tennessee-Knoxville ("UTK") related to its hydrocarbon exploration activities in eastern Tennessee. Two UTK geological scientists, Professor Robert D. Hatcher, Jr., a University of Tennessee/Oak Ridge National Laboratory Distinguished Scientist in structural and Appalachian geology who served as a Director of the Company in 2002, and Dr. Richard T. Williams, Ph. D., Associate Professor in geophysics, who is currently the Company's Chief Executive Officer and a Director of the Company, provide the Company with assistance in interpreting the structure of the Swan
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Creek Field and geophysical data from that field. New seismic data will permit better subsurface imaging and more exact determination of the size of the Swan Creek Field.
A major outgrowth of the Company's relationship with UTK is a new graduate fellowship, called the Tengasco Fellowship, to be awarded in UTK's Department of Geological Sciences to an outstanding graduate student interested in pursuing a career in the petroleum industry. The fellowship will provide a living allowance and tuition for the student. A number of UTK graduate students receiving financial support from the Company have already provided computer generated 3-D images of the Swan Creek Field. These images have helped outline the subsurface shape of the hydrocarbon producing zone to allow the Company to better understand where additional production might be located.
The Agreement between the Company and the University of Tennessee also provides for cooperation between them in the use of vibreosis seismic equipment, primarily a large vibrator truck, owned by the University that is to be used in the Company's exploration program. Under the agreement, the Company is entitled to use the equipment in exchange for performing required routine expert maintenance and upkeep on the University's equipment, the cost of which exceeds the University's available resources. The University-owned truck is identical to two trucks owned by the Company and used in its seismic exploration program.
2. THE KANSAS PROPERTIES
The Company, as of December 31, 1997 acquired the Kansas Properties which presently includes 134 producing oil wells and 51 producing gas wells in the vicinity of Hays, Kansas and a gathering system including 50 miles of pipeline. The Company also acquired 37 other wells which now serve as saltwater disposal wells in the vicinity of Hays, Kansas. Saltwater wells are used to store saltwater encountered in the drilling process that would otherwise have to be transported out of the area. These saltwater disposal wells reduce operating costs by eliminating the need for transport. The aggregate production for the Kansas Properties at present is approximately 800 Mcf and 336 barrels of oil per day. Revenue for the Kansas Properties was approximately $275,000 per month in 2002.
The Company employs a full time geologist in Kansas to oversee operations of the Kansas Properties. Recent well workovers in Kansas have improved production with an estimated $1.80 increase in revenue for every $1.00 in work expense. The Company has identified five new locations for drilling wells in Ellis and Rush Counties, Kansas on its existing leases in response to drilling activity in the area establishing new areas of production. In 2001 the Company successfully drilled the Dick No. 7 well in Kansas and completed the well as an oil well. The Company did not drill any new wells in Kansas in 2002 due to lack of funds available for such drilling. The Company is also engaged in gathering for a fee the gas produced from wells owned by
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others located in Kansas adjacent to the Company's wells and near the Company's gathering lines. The Company's plans for its Kansas properties include maintaining the current productive capacity of its existing wells through normal workovers and maintenance of the wells, performing gathering or sales services for adjacent producers, and expanding the Company's own production through drilling these additional wells. Such plans are subject to the availability of funds to perform the work.
In addition, there are several capital development projects that are available with respect to the Kansas Properties which include recompletion of wells and major workovers to increase current production. These projects when completed may increase production in Kansas. Management, however, has made the decision not to perform this work at the present time, as the Company does not presently have the funds necessary to perform these projects. It will however, reconsider its decision if such funds become available through the Company's operations or other sources of financing.
3. OTHER AREAS OF DEVELOPMENT
The Company is presently exploring other geological structures in the East Tennessee area that are similar to the Swan Creek structure and which the Company believes have a high probability of producing hydrocarbons. The Company has either acquired seismic data on these structures from third-party sources, or is conducting its own seismic studies with its own trucks and equipment. The seismic analysis is continuing and related leasing activities have begun based on initial analysis of seismic results. The Company plans to conduct exploration activities in these areas. The first of these locations was in Cocke County, Tennessee which is approximately 40 miles southeast of the Swan Creek Field. In 2002, the Company, in conjunction with Southeast Gas & Oil Corp. of Newport, Tennessee, drilled an approximately 6,000-foot exploratory well to the Knox formation. This well did not result in any commercial quantities of hydrocarbons.
GOVERNMENTAL REGULATIONS
The Company is subject to numerous state and federal regulations, environmental and otherwise, that may have a substantial negative effect on its ability to operate at a profit. For a discussion of the risks involved as a result of such regulations, see, "Effect of Existing or Probable Governmental Regulations on Business" and "Costs and Effects of Compliance with Environmental Laws" hereinafter in this section.
PRINCIPAL PRODUCTS OR SERVICES AND MARKETS
The Company will conduct exploration and production activities to produce crude oil and natural gas. The principal markets for these commodities are local refining companies, local utilities and private industry end users, which purchase the crude oil, and local utilities, private industry end users, and natural gas marketing companies, which purchase the natural gas.
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Gas production from the Swan Creek Field can presently be delivered through the Company's completed pipeline to the Powell Valley Utility District in Hancock County, Eastman and BAE in Sullivan County, as well as other industrial customers in the Kingsport area. The Company has acquired all necessary regulatory approvals and 100% of necessary property rights for the pipeline system. The Company's pipeline will not only provide transportation service for gas produced from the Company's wells, but will provide transportation of gas for small independent producers in the local area as well. Direct sales could also be made to some local towns, industries and utility districts.
Natural gas from the Kansas Properties is delivered to Kansas-Nebraska Energy, Inc. in Bushton, Kansas. At present, crude oil is sold to the National Cooperative Refining Association in McPherson, Kansas, 120 miles from Hays. National Cooperative is solely responsible for transportation of the oil it purchases whether by truck or pipeline. There is a limited market in the area and the only other purchaser of crude oil is EOTT Energy Operations Ltd.
DRILLING EQUIPMENT
In addition to the drilling equipment and vehicles which it acquired from IRC, on November 1, 2000, the Company purchased an Ingersoll Rand RD20 drilling rig and related equipment from Ratliff Farms, Inc., an affiliate of Malcolm E. Ratliff, the Company's former Chief Executive Officer and former Chairman of the Board of Directors and a former Director of the Company. All of this equipment is in satisfactory operating condition. The Company also receives contract drilling services from Miller Petroleum, Inc. and Union Drilling in the Swan Creek Field.
DISTRIBUTION METHODS OF PRODUCTS OR SERVICES
Crude oil is normally delivered to refineries in Tennessee and Kansas by tank truck and natural gas is distributed and transported via pipeline.
COMPETITIVE BUSINESS CONDITIONS, COMPETITIVE POSITION IN THE INDUSTRY AND METHODS OF COMPETITION
The Company's contemplated oil and gas exploration activities in the States of Tennessee and Kansas will be undertaken in a highly competitive and speculative business atmosphere. In seeking any other suitable oil and gas properties for acquisition, the Company will be competing with a number of other companies, including large oil and gas companies and other independent operators with greater financial resources. Management does not believe that the Company's initial competitive position in the oil and gas industry will be significant.
Its principal competitors in the State of Tennessee are Nami Resources,
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LLC, Miller Petroleum, Inc., Knox Energy Development and Penn Virginia Corporation. The Company is in a favorable position in the area in which its pipeline is located. Within that area, the Company owns leases on approximately 41,088 acres.
There are numerous producers in the area of the Kansas Properties. Some are larger and some smaller than the Company. However, management expects that it will be able to sell all of the gas and oil that the Kansas Properties produce.
Management does not foresee any difficulties in procuring drilling rigs or the manpower to run them in the area of its operations. The experience of management has been that in most instances, drilling rigs have only a one or two day waiting period; however, several factors, including increased competition in the area, may limit the availability of drilling rigs, rig operators and related personnel and/or equipment; such an event may have a significant adverse impact on the profitability of the Company's operations.
The Company anticipates no difficulty in procuring well drilling permits which are obtained from the Tennessee Oil and Gas Board. They are usually issued within one week of application. The Company generally does not apply for a permit until it is actually ready to commence drilling operations.
The prices of the Company's products are controlled by the world oil market and the United States natural gas market; thus, competitive pricing behaviors are considered unlikely; however, competition in the oil and gas exploration industry exists in the form of competition to acquire the most promising acreage blocks and obtaining the most favorable prices for transporting the product. Management believes that the Company is well-positioned in these areas because of the transmission lines that run through and adjacent to the properties leased by the Company and because the Company holds relatively large acreage blocks in what management believes are promising areas.
SOURCES AND AVAILABILITY OF RAW MATERIALS
AND NAMES OF PRINCIPAL SUPPLIERS
Excluding the development of oil and gas reserves and the production of oil and gas, the Company's operations are not dependent on the acquisition of any raw materials. See, "Competitive Business Conditions, Competitive Position in the Industry and Methods of Competition" set forth above.
DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS
The Company is presently dependent upon a small number of customers for the sale of gas from the Swan Creek Field, principally Eastman and BAE, and other
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industrial customers in the Kingsport area with which the Company may enter into gas sales contracts.
Natural gas from the Kansas Properties is delivered to Kansas-Nebraska Energy, Inc. in Bushton, Kansas. At present, crude oil from the Kansas Properties is being trucked and transported through pipelines to the National Cooperative Refining Association in McPherson, Kansas, 120 miles from Hays, Kansas. National Cooperative is solely responsible for transportation of products whether by truck or pipeline. There is a limited market in the area and the only other purchaser of crude oil is EOTT Energy Operations Ltd. The Company, however, anticipates that it will be able to sell all of the oil and gas produced from the Kansas Properties.
PATENTS, TRADEMARKS, LICENSES, FRANCHISES, CONCESSIONS, ROYALTY AGREEMENTS OR LABOR CONTRACTS, INCLUDING DURATION
Royalty agreements relating to oil and gas production are standard in the industry. The amount of the Company's royalty payments varies from lease to lease.
NEED FOR GOVERNMENTAL APPROVAL OF PRINCIPAL PRODUCTS OR SERVICES
None of the principal products offered by the Company require governmental approval; however, permits are required for drilling oil or gas wells. See, "Effect of Existing or Probable Governmental Regulations on Business" below in this section.
The transportation service offered by TPC is subject to regulation by the Tennessee Regulatory Authority to the extent of certain construction, safety, tariff rates and charges, and nondiscrimination requirements under state law. These requirements are typical of those imposed on regulated utilities. TPC has been granted a certificate of public convenience and necessity to operate as a pipeline utility in Hancock, Hawkins, and Claiborne counties, Tennessee. In addition, TPC was authorized to construct and operate the portion of Phase II of the pipeline to Eastman by resolution of the City of Kingsport in May, 2000. This resolution was approved by the Tennessee Regulatory Authority as required by state law. All approvals for the Company's pipeline have been granted.
The City of Kingsport, Tennessee has also enacted an ordinance dated June 6, 2000 granting to Tengasco Pipeline a franchise for twenty years to construct, maintain and operate a gas system to import, transport, and sell natural gas to the City of Kingsport and its inhabitants, institutions and businesses for domestic, commercial, industrial and institutional uses. This ordinance and the franchise agreement it authorizes also require approval of the Tennessee Regulatory Authority under state law. The Company will not initiate the required approval process for the ordinance and franchise agreement until such time that it can supply gas to the City of Kingsport. Although the Company anticipates that regulatory approval will be granted, there can be no assurances that it will be granted, or that such approval may be granted
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in a timely manner, or that such approval may not be limited in some manner by the Tennessee Regulatory Authority as is expressly permitted under state law.
TPC presently has all required tariffs and approvals necessary to transport natural gas to all customers of the Company. See, "Effect of Existing or Probable Governmental Regulations on Business" below in this section.
EFFECT OF EXISTING OR PROBABLE GOVERNMENTAL REGULATIONS ON BUSINESS
Exploration and production activities relating to oil and gas leases are subject to numerous environmental laws, rules and regulations. The Federal Clean Water Act requires the Company to construct a fresh water containment barrier between the surface of each drilling site and the underlying water table. This involves the insertion of a seven-inch diameter steel casing into each well, with cement on the outside of the casing. The Company has fully complied with this environmental regulation, the cost of which is approximately $10,000 per well.
The State of Tennessee also requires the posting of a bond to ensure that the Company's wells are properly plugged when abandoned. A separate $2,000 bond is required for each well drilled. The Company currently has the requisite amount of bonds on deposit with the State of Tennessee.
As part of the Company's purchase of the Kansas Properties it acquired a statewide permit to drill in Kansas. Applications under such permit are applied for and issued within one- two weeks prior to drilling. At the present time, the State of Kansas does not require the posting of a bond either for permitting or to insure that the Company's wells are properly plugged when abandoned. All of the wells in the Kansas Properties have all permits required and are in compliance with the laws of the State of Kansas.
The Company's operations are also subject to laws and regulations requiring removal and cleanup of environmental damages under certain circumstances. Laws and regulations protecting the environment have generally become more stringent in recent years, and may in certain circumstances impose "strict liability," rendering a corporation liable for environmental damages without regard to negligence or fault on the part of such corporation. Such laws and regulations may expose the Company to liability for the conduct of operations or conditions caused by others, or for acts of the Company which were in compliance with all applicable laws at the time such acts were performed. The modification of existing laws or regulations or the adoption of new laws or regulations relating to environmental matters could have a material adverse effect on the Company's operations. In addition, the Company's existing and proposed operations could result in liability for fires, blowouts, oil spills, discharge of hazardous materials into surface and subsurface aquifers and other environmental damage, any one of which could result in personal injury, loss of life, property damage or destruction or suspension of operations.
The Company believes it is presently in compliance with all applicable federal, state or local environmental laws, rules or regulations; however, continued compliance (or failure
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to comply) and future legislation may have an adverse impact on the Company's present and contemplated business operations.
The Company's Board of Directors adopted resolutions to form an Environmental Response Policy and Emergency Action Response Policy Program. A plan was adopted which provides for the erection of signs at each well and at strategic locations along the pipeline containing telephone numbers of the Company's office and the home telephone numbers of key personnel. A list is maintained at the Company's office and at the home of key personnel listing phone numbers for fire, police, emergency services and Company employees who will be needed to deal with emergencies.
The foregoing is only a brief summary of some of the existing environmental laws, rules and regulations to which the Company's business operations are subject, and there are many others, the effects of which could have an adverse impact on the Company. Future legislation in this area will no doubt be enacted and revisions will be made in current laws. No assurance can be given as to what effect these present and future laws, rules and regulations will have on the Company's current and future operations. See, "Risk Factors", below.
RESEARCH AND DEVELOPMENT
The Company has not expended any material amount in research and development activities during the last two fiscal years. Research done in conjunction with its exploration activities will consist primarily of conducting seismic surveys on the lease blocks. This work will be performed by the Company's geology and engineering personnel and other employees and will not have a material cost of anything more than standard salaries.
COST AND EFFECTS OF COMPLIANCE WITH ENVIRONMENTAL LAWS
See, "Effect of Existing or Probable Governmental Regulations on Business" set forth above in this section.
NUMBER OF TOTAL EMPLOYEES AND NUMBER OF FULL-TIME EMPLOYEES
The Company presently has twenty-one full time employees and no part-time employees.
RISK FACTORS
In addition to the other information in this document, investors in the Company's common stock should consider carefully the following risks:
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SIGNIFICANT CAPITAL REQUIREMENTS. The Company must make a substantial amount of capital expenditures for the acquisition, exploration and development of oil and gas reserves. Historically, the Company has paid for these expenditures with cash from operating activities, proceeds from debt and equity financings and asset sales. The Company's ability to re-work existing wells and complete its drilling program in the Swan Creek Field is dependent upon its ability to fund these costs. Although the Company anticipated that by this time it would be able to fund the completion of its drilling program in the Swan Creek Field from revenues from the sales of gas, it is unable to do so. Further, the Company's credit facility with Bank One has been reduced by Bank One, although the Company vigorously disputes the Bank's actions. As a result of Bank One's reduction of the credit facility and the corresponding demand for payment, combined with the fact that the Company is still in the early stages of its oil and gas operating history during which time it has a history of losses from operations and has an accumulated deficit of $27,776,726 and a working capital deficit of $7,998,835 as of December 31, 2002, the Company's independent certified public accountants have indicated in their report on the Company's Consolidated Financial Statements for the year ended December 31, 2002, that these circumstances contribute to uncertainty over the Company's ability to continue as a going concern which depends upon its ability to obtain long-term debt or raise capital to satisfy its cash flow requirements. At the present time and until the Company is able to increase its production and sales of gas and to resolve its dispute with Bank One, it must obtain the necessary funds to complete its drilling program from other sources such as equity investment, bank loan or a joint venture with another company. In addition, the Company's revenues or cash flows could be reduced because of lower oil and gas prices or for some other reason. If the Company's revenues or cash flows decrease and the Company is unable to procure alternative financing, this would require the Company to reduce production over time and this would have an adverse impact on the Company's ability to continue in business. Although management believes it will be able to obtain the long-term debt or raise capital to enable it to continue drilling and remain in business, there can be no assurances that it will be able to obtain such funding. Where the Company is not the majority owner or operator of an oil and gas project, it may have no control over the timing or amount of capital expenditures associated with the particular project. If the Company cannot fund its capital expenditures, its interests in some projects may be reduced or forfeited.
VOLATILE OIL AND GAS PRICES CAN MATERIALLY AFFECT THE COMPANY. The Company's future financial condition and results of operations will depend upon the prices received for the Company's oil and natural gas production and the costs of acquiring, finding, developing and producing reserves. Prices for oil and natural gas are subject to fluctuations in response to relatively minor changes in supply, market uncertainty and a variety of additional factors that are beyond the control of the Company. These factors include worldwide political instability (especially in the Middle East and other oil-producing regions), the foreign supply of oil and gas, the price of foreign imports, the level of drilling activity, the level of consumer product demand, government regulations and taxes, the price and availability of alternative fuels and the overall economic environment. A substantial or extended decline in oil and gas prices would have a material adverse effect on the Company's financial position, results of operations, quantities of oil and gas that may be economically produced, and access to capital. Oil and natural gas prices have historically been and are likely to continue to be volatile. This volatility makes it difficult to estimate with precision the value of producing properties in acquisitions and to budget and project the return on exploration and development projects involving the Company's oil and
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gas properties. In addition, unusually volatile prices often disrupt the market for oil and gas properties, as buyers and sellers have more difficulty agreeing on the purchase price of properties.
UNCERTAINTY IN CALCULATING RESERVES; RATES OF PRODUCTION; DEVELOPMENT EXPENDITURES; CASH FLOWS. There are numerous uncertainties inherent in estimating quantities of oil and natural gas reserves of any category and in projecting future rates of production and timing of development expenditures, which underlie the reserve estimates, including many factors beyond the Company's control. Reserve data represent only estimates. In addition, the estimates of future net cash flows from the Company's proved reserves and their present value are based upon various assumptions about future production levels, prices and costs that may prove to be incorrect over time. Any significant variance from the assumptions could result in the actual quantity of the Company's reserves and future net cash flows from being materially different from the estimates. In addition, the Company's estimated reserves may be subject to downward or upward revision based upon production history, results of future exploration and development, prevailing oil and gas prices, operating and development costs and other factors.
OIL AND GAS OPERATIONS INVOLVE SUBSTANTIAL COSTS AND ARE SUBJECT TO VARIOUS ECONOMIC RISKS. The oil and gas operations of the Company are subject to the economic risks typically associated with exploration, development and production activities, including the necessity of significant expenditures to locate and acquire producing properties and to drill exploratory wells. In conducting exploration and development activities, the presence of unanticipated pressure or irregularities in formations, miscalculations or accidents may cause the Company's exploration, development and production activities to be unsuccessful. This could result in a total loss of the Company's investment. In addition, the cost and timing of drilling, completing and operating wells is often uncertain.
COSTS INCURRED TO CONFORM TO GOVERNMENT REGULATION OF THE OIL AND GAS INDUSTRY. The Company's exploration, production and marketing operations are regulated extensively at the federal, state and local levels. The Company has made and will continue to make large expenditures in its efforts to comply with the requirements of environmental and other regulations. Further, the oil and gas regulatory environment could change in ways that might substantially increase these costs. Hydrocarbon-producing states regulate conservation practices and the protection of correlative rights. These regulations affect the Company's operations and limit the quantity of hydrocarbons the Company may produce and sell. In addition, at the U.S. federal level, the Federal Energy Regulatory Commission regulates interstate transportation of natural gas under the Natural Gas Act. Other regulated matters include marketing, pricing, transportation and valuation of royalty payments.
COSTS INCURRED RELATED TO ENVIRONMENTAL MATTERS. The Company, as an owner or lessee and operator of oil and gas properties, is subject to various federal, state and local laws and regulations relating to discharge of materials into, and protection of, the environment. These laws and regulations may, among other things, impose liability on the lessee under an oil and gas lease for the cost of pollution clean-up resulting from operations, subject the lessee to liability for pollution damages, and require suspension or cessation of operations in affected areas.
The Company maintains insurance coverage, which it believes is
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customary in the industry, although it is not fully insured against all environmental risks. The Company is not aware of any environmental claims existing as of December 31, 2002, which would have a material impact upon the Company's financial position or results of operations.
The Company has made and will continue to make expenditures in its efforts to comply with these requirements, which it believes are necessary business costs in the oil and gas industry. The Company has established policies for continuing compliance with environmental laws and regulations. The costs incurred by these policies and procedures are inextricably connected to normal operating expenses such that the Company is unable to separate the expenses related to environmental matters; however, the Company does not believe any such additional expenses are material to its financial position or results of operations.
The Company does not believe that compliance with federal, state or local provisions regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, will have a material adverse effect upon the capital expenditures, earnings or competitive position of the Company or its subsidiaries; however, there is no assurance that changes in or additions to laws or regulations regarding the protection of the environment will not have such an impact.
INSURANCE DOES NOT COVER ALL RISKS. Exploration for and production of oil and natural gas can be hazardous, involving unforeseen occurrences such as blowouts, cratering, fires and loss of well control, which can result in damage to or destruction of wells or production facilities, injury to persons, loss of life, or damage to property or the environment. The Company maintains insurance against certain losses or liabilities arising from its operations in accordance with customary industry practices and in amounts that management believes to be prudent; however, insurance is not available to the Company against all operational risks.
HEDGING MAY PREVENT THE COMPANY FROM FULLY BENEFITTING FROM PRICE INCREASES. The Company does not presently have any hedging agreements or plans to enter into any hedging activities. However, to the extent that the Company does enter into such agreements or undertake such activities, it may be prevented from realizing the benefits of price increases above the levels of the hedges. In addition, the Company is subject to basis risk when it engages in hedging transactions, particularly where transportation constraints restrict the Company's ability to deliver oil and gas volumes at the delivery point to which the hedging transaction is indexed.
GENERAL ECONOMIC CONDITIONS. Virtually all of the Company's operations are subject to the risks and uncertainties of adverse changes in general economic conditions, the outcome of pending and/or potential legal or regulatory proceedings, changes in environmental, tax, labor and other laws and regulations to which the Company is subject, and the condition of the capital markets utilized by the Company to finance its operations.
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ITEM 2. DESCRIPTION OF PROPERTY
PROPERTY LOCATION, FACILITIES, SIZE AND NATURE OF OWNERSHIP
The Company's Swan Creek Leases are on approximately 41,088 acres in Hancock, Claiborne, Knox, Jefferson, Morgan and Union Counties in Tennessee. The initial terms of these leases vary from one to five years. Some of them will terminate unless the Company has commenced drilling. However, the Company does not anticipate any difficulty in continuing the Swan Creek Leases. In 2002, the Company reduced the acreage comprising the Swan Creek Field from approximately 50,500 acres to the present 41,088 acres. This reduction in acreage was a result of the Company having a better understanding of the geological and geophysical makeup of the Swan Creek Field. Management believes the acreage eliminated from the Field does not have the potential to produce commercial quantities of oil or gas. The reduction of this acreage does not affect the reserves of the Swan Creek Field or diminish its potential. Further, the elimination of the leases for this acreage will result in beneficial cost savings to the Company.
Morita Properties, Inc., an affiliate of Shigemi Morita, a former Director of the Company, currently has a 25% working interest in nine of the Company's existing wells, and a 50% working interest and 6% working interest in two of the Company's other existing wells. All of these wells are located in the Swan Creek Field and all but two are presently producing wells. In addition, to those interests, Morita Properties, Inc. previously owned a 25% working interest in three of the Company's other existing wells and 12.5% working interest in another of the Company's wells which it subsequently sold.
An individual who is not an affiliate of the Company purchased 25% working interests in two other wells, the Stephen Lawson No. 1 and the Patton No. 1. Both of these wells are located in the Swan Creek Field and are presently producing wells.
Another individual has a 29% revenue interest in the Laura Jean Lawson No. 3 well by virtue of having contributed her unleased acreage to the drilling unit and paying her proportionate share of the drilling costs of the well. The Company was obligated to allow that individual to participate on that basis in accordance with both customary industry practice and the requirements of the procedures of the Tennessee Oil and Gas Board in a forced pooling action brought by the Company to require the acreage to be included in the unit so that the well could be drilled. The forced pooling procedure was concluded by her contribution of acreage and agreement to pay proportionate share of drilling costs. This well is also located in the Swan Creek Field and is a presently producing well.
The Company also entered into a farmout agreement with Miller Petroleum, Inc. ("Miller") for ten wells to be drilled in the Swan Creek Field with the Company having an option to award up to an additional ten future wells. All locations were to be mutually agreed upon. Net revenues are to be 81.25% to Miller and the Company's subsidiary TPC will transport Miller's gas. The Company reserved all offset locations to wells drilled under the farmout agreement. All ten wells have been drilled under the farmout agreement. The Company acquired back from Miller a 50% working interest from Miller in nine of those ten wells in addition to its rights under the farmout agreement. In addition, the Company and Miller have drilled two additional wells on
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a 50-50 basis, although the Company declined to exercise its option for a ten-well extension of the farmout agreement. Of the wells in which Miller owns an interest, six are presently producing.
Other than the working interests described or referred to in this Item, the Company retains all other working interests in wells drilled or to be drilled in the Swan Creek Field.
Working interest owners in oil and gas wells are entitled to market their respective shares of production to purchasers other than purchasers with whom the Company has contracted. Absent such contractual arrangements being made by the working interest owners, the Company is authorized but is not required to provide a market for oil or gas attributable to working interest owners' production. At this time, the Company has not agreed to market gas for any working interest owner to customers other than customers of the Company. If the Company does agree to market gas for working interest owners to the Company's customers, the Company will have to agree, at that time, to the terms of such marketing arrangements and it is possible that as a result of such arrangements, the Company's revenues from such customers may be correspondingly reduced. If the working interest owners make their own arrangements to market their natural gas to other end users along the pipeline which have been served by East Tennessee Natural Gas, an interstate pipeline, such gas would be transported through the Company's wholly owned subsidiary TPC at published tariff rates. The current published tariff rate is for firm transportation at a demand charge of five cents per MMBtu per day plus a commodity charge of $0.80 per MMBtu. If the working interest owners do not market their production, either independently or through the Company, then their interest will be treated as not yet produced and will be balanced either when marketing arrangements are made by such working interest owners or when the well ceases to produce in accordance with customary industry practice.
The Kansas Properties contain 138 leases totaling 32,158 acres in the vicinity of Hays, Kansas. The original term on these leases was from 1 to 10 years and in most cases has expired, however, most leases are still in effect because they are being held by production. The Company maintains a 100% working interest in most wells. The leases provide for a landowner royalty of 12.5%. Some wells are subject to an overriding royalty interest from 0.5% to 9%.
The Company pays ad valorem taxes on its Kansas Properties. It does not pay any taxes on its Swan Creek Leases. The Company has general liability insurance for the Kansas Properties and the Swan Creek Field.
The Company leases its principal executive offices, consisting of approximately 5,647 square feet located at 603 Main Avenue, Suite 500, Knoxville, Tennessee and an office in Hays, Kansas at a rental of $500 per month. During 2002 and the first quarter of 2003, the Company closed a field office in Sneedville, Tennessee and an office in New York City it had previously leased at an aggregate rental of $3,100 per month.
RESERVE ANALYSES
Ryder Scott Company, L.P. of Houston, Texas ("Ryder Scott") has performed reserve analyses of all the Company's productive leases. Ryder Scott and its employees and its registered petroleum engineers have no interest in the Company or IRC, and performed these services at their standard rates. The net reserve values used hereafter were obtained from a
23
reserve report dated February 10, 2003 (the "Report") prepared by Ryder Scott as of December 31, 2002. In substance, the Report used estimates of oil and gas reserves based upon standard petroleum engineering methods which include production data, decline curve analysis, volumetric calculations, pressure history, analogy, various correlations and technical judgment. Information for this purpose was obtained from owners of interests in the areas involved, state regulatory agencies, commercial services, outside operators and files of Ryder Scott. The net reserve values in the Report were adjusted to take into account the working interests that have been sold by the Company in various wells in the Swan Creek Field. The Report provides that the net proved reserves for wells in the Swan Creek Field are 30,360 MMcf of natural gas and 226,456 barrels of oil. According to the Report, the value of the future gross revenues of the Company's interest in the Swan Creek Field as of December 31, 2002 is $103,667,886 before production taxes and $100,557,852 after production taxes. The Report further provides that as of December 31, 2002 the value of the future net income before income taxes of the Company's interest in the Swan Creek Field is $80,798,842 and, discounting the future net income by 10% results in a present value of $36,230,728.
The Report reflects that the amount of proved natural gas reserves in the Swan Creek Field of 30,360MMcf remained essentially unchanged from reserves of 30,366 MMcf reported in the Ryder Scott report dated March 28,2002 reporting values as of December 31, 2001. The Report also reflects a decrease in the amount of proved oil reserves to 224,456 barrels in 2002 from 319,650 barrels reported in the earlier Ryder Scott report for values as of December 31, 2001. This decrease was primarily due to estimates for the Colson #1 well which was included in the earlier Ryder Scott report as of December 31, 2001, but was not included in the current Report as that well was subsequently taken off-line and reclassified as unproved. The Report reflects an increase from the Ryder Scott Report for the year ended December 31, 2001 in the value of the future gross revenues of the Company's interest in the Swan Creek Field from $57,832,005 to $103,667,886 before production taxes and $56,097,044 after production taxes to $100,557,852. The Report also indicates an increase in the discounted (at 10% per annum compounded monthly) present value of the reserves of the Swan Creek Field from $19,302,590 as of December 31, 2001 to $36,230,728 as of December 31, 2002. These increases in values reported by Ryder Scott in the Report are due to an increase in oil and gas prices for 2002 making a larger portion of the Field's undeveloped reserves more economical for future development. Gas prices for the year-end 2001 Ryder Scott report utilized gas prices of $2.35 per Mcf and oil prices of $16.25 per barrel as opposed to the $4.22 per Mcf price and $26.90 per barrel price utilized in the current Report for the year ended December 31, 2002. In addition, the Company drilled two wells in 2002, the Colson #2 and the Paul Reed #9, which added 936 MMcf to the Company's gas reserves in the Swan Creek Field.
Ryder Scott also performed a reserve analysis of the Kansas Properties. The Report provides that as of December 31, 2002 the net proved reserves for the Kansas Properties are 4,005 MMcf of natural gas and 1,586,258 barrels of oil. According to the Report, the value of the future gross revenues of the Company's interest in the Kansas Properties as of December 31, 2002 is $48,511,771 before production taxes and $48,066,045 after production taxes. The Report further provides that as of December 31, 2002 the value of the future net income before income taxes of the Company's interest in the Kansas Properties is $18,163,162 and, discounting the future net income by 10% results in a present value of $10,417,292.
The current Report reflects a substantial increase from the Ryder Scott Report
24
analyzing the reserves of the Kansas Properties as of December 31, 2001 in (i) the number of barrels of oil attributed to the Company's net interest in the Kansas Properties from 831,930 barrels to 1,308,467 and (ii) the value of the future gross revenues of the Company's interest in the Kansas Properties from $20,463,797 to $48,511,771 before production taxes and $19,586,607 after production taxes to $48,066,045. The current Report also indicates an increase in the discounted (at 10% per annum compounded monthly) net present value of the Company's oil and gas reserves in the Kansas Properties from $2,431,317 as of December 31, 2001 to $10,417,292 as of December 31, 2002. These increases are due primarily to two factors. First, the increased price and future speculative market for energy prices have driven both oil and gas prices higher. The 2001 Ryder Scott Report used a gas price of $2.13 per Mcf in determining the value of reserves in contrast to the $4.13 per Mcf price used in the current Report and an oil price of $17.24 per barrel in 2001 contrasted to the $27.29 per barrel price used in 2002. Second, an increase in the number of barrels occurred because the current Report for December 31, 2002 included the production and reserves from approximately thirty producing oil wells that had not been included in the prior Ryder Scott Report for December 31, 2001. At the time of the earlier Report, the calculated operating expenses for those producing wells matched or exceeded the oil price utilized in that Report and therefore, those wells were not considered commercially viable for purposes of that earlier Report. As a result of the increase in the price of oil, those wells and associated reserves are included in the current Report. The Company anticipates that future reports of the net present value of the Kansas Properties should remain stable, and may even increase and will continue to include the consideration of reserves attributable to all of the Company's wells in Kansas, which are still producing in accordance with their extended production history, provided that the market price of oil and gas remains constant or increases.
The Company believes that the reserve analysis reports prepared by Ryder Scott for the Company for the Swan Creek Field and Kansas Properties provide an essential basis for review and consideration of the Company's producing properties by all potential industry partners and all financial institutions across the country. It is standard in the industry for reserve analyses such as these to be used as a basis for financing of drilling costs. Reserve analyses, however, are at best speculative, especially when based upon limited production; no assurance can be given that the reserves attributed to these leases exist or will be economically recoverable. The result of any reserve analysis is dependent upon the forecast of product prices utilized in the analysis which may be more or less than the actual price received during the period in which production occurs.
The Company has not filed the reserve analysis reports prepared by Ryder Scott or any other reserve reports with any Federal authority or agency other than the Securities and Exchange Commission. The Company, however, has filed the information in the Report of the Company's reserves with the Energy Information Service of the Department of Energy in compliance with that agency's statutory function of surveying oil and gas reserves nationwide.
25
 
PRODUCTION
The following tables summarize for the past three fiscal years the volumes of oil and gas produced to the Company's interests, the Company's operating costs and the Company's average sales prices for its oil and gas. The information does not include volumes produced to royalty interests or other working interests.

TENNESSEE
--------------------------------------------------------------------------------------------------------------
        YEAR                 PRODUCTION               COST OF                    AVERAGE SALES PRICE
       ENDED                                         PRODUCTION
      DECEMBER                                      (PER BOE)(2)
         31
--------------------------------------------------------------------------------------------------------------
                      OIL                GAS                                     OIL               GAS
                     (BBL)              (MCF)                                   (BBL)           (PER MCF)
--------------------------------------------------------------------------------------------------------------
2002               15,111.54         521,834.35          $4.10(3)               $21.85            $3.22
--------------------------------------------------------------------------------------------------------------
2001               22,776.21         703,073.56          $0.31                  $16.05            $2.55
--------------------------------------------------------------------------------------------------------------
2000               37,210.67           2,411.00          $0.69                  $20.32            $2.86
--------------------------------------------------------------------------------------------------------------	

Gas volumes and prices for 2000 reflect only the nominal purchases made by Hawkins County Gas Utility District upon completion of Phase I of Tengasco Pipeline Company's pipeline system.

(2) A "BOE" is a barrel of oil equivalent. A barrel of oil contains approximately 6 Mcf of natural gas by heating content. The volumes of gas produced have been converted into "barrels of oil equivalent" for the purposes of calculating costs of production.
(3) The increase in cost of production in 2002 was a result of this being the first full year of production in the Swan Creek Field.
26

KANSAS
--------------------------------------------------------------------------------------------------------------
          YEAR               PRODUCTION                COST OF                   AVERAGE SALES PRICE
         ENDED                                       PRODUCTION
        DECEMBER                                      (PER BOE)
          31
--------------------------------------------------------------------------------------------------------------
                       OIL               GAS                                    OIL               GAS
                      (BBL)             (MCF)                                  (BBL)           (PER MCF)
--------------------------------------------------------------------------------------------------------------
2002               105,473.54        246,510.98         $ 8.71                 $23.89            $2.96
--------------------------------------------------------------------------------------------------------------
2001               112,495.88        278,884.66         $10.72                 $23.50            $4.12
--------------------------------------------------------------------------------------------------------------
2000               111,734.81        291,096.22         $ 9.68                 $28.06            $3.75
--------------------------------------------------------------------------------------------------------------	

OIL AND GAS DRILLING ACTIVITIES
The Company's oil and gas developmental drilling for the past three fiscal years are as set forth in the following tables. During the fiscal years ending December 31, 2000 and 2001 the Company did not drill any exploratory wells. In 2002, the Company drilled one exploratory well in Cocke County, Tennessee which did not result in finding commercial quantities of hydrocarbons. The information should not be considered indicative of future performance, nor should it be assumed that there is necessarily any correlation between the number of wells drilled, quantities of reserves found or economic value.
GROSS AND NET WELLS
The following tables set forth for the fiscal years ending December 31, 2000, 2001, and 2002 the number of gross and net development wells drilled by the Company. The dry hole set forth in the table below is the Cocke County well referred to above. The term gross wells means the total number of wells in which the Company owns an interest, while the term net wells means the sum of the fractional working interests the Company owns in gross wells.
27

-------------------------------------------------------------------------------------------------------------------
                                                 YEAR ENDED DECEMBER 31
                                          2002                          2001                           2000
-------------------------------------------------------------------------------------------------------------------
                                  GROSS           NET           GROSS            NET           GROSS           NET
-------------------------------------------------------------------------------------------------------------------
TENNESSEE
-------------------------------------------------------------------------------------------------------------------
PRODUCTIVE WELLS                    3           2.625             19            11.42            9           4.0515
-------------------------------------------------------------------------------------------------------------------
DRY HOLES                           1             .50              0                0            0                0
-------------------------------------------------------------------------------------------------------------------
KANSAS
-------------------------------------------------------------------------------------------------------------------
PRODUCTIVE WELLS                    0               0              3            2.594            0                0
-------------------------------------------------------------------------------------------------------------------
DRY HOLES                           0               0              0                0            0                0
-------------------------------------------------------------------------------------------------------------------	

PRODUCTIVE WELLS
The following table sets information regarding the number of productive wells in which the Company held a working interest as of December 31, 2002. Productive wells are either producing wells or wells capable of commercial production although currently shut-in. One or more completions in the same bore hole are counted as one well.

-------------------------------------------------------------------------------------------------------------------
                                                    GAS                                         OIL
-------------------------------------------------------------------------------------------------------------------
                                         GROSS                    NET                GROSS                NET
-------------------------------------------------------------------------------------------------------------------
TENNESSEE                                  31                    18.9                  12                6.18
-------------------------------------------------------------------------------------------------------------------
KANSAS                                     52                   43.45                 128               110.5
-------------------------------------------------------------------------------------------------------------------	

DEVELOPED AND UNDEVELOPED OIL AND GAS ACREAGE
As of December 31, 2002, the Company owned working interests in the following developed and undeveloped oil and gas acreage. Net acres refers to the Company's interest less the interest of royalty and other working interest owners.
28

-------------------------------------------------------------------------------------------------------------------
                                                 DEVELOPED                                  UNDEVELOPED
-------------------------------------------------------------------------------------------------------------------
                                      GROSS ACRES              NET ACRES          GROSS ACRES          NET ACRES
-------------------------------------------------------------------------------------------------------------------
TENNESSEE                               1,840.00                1,065.38            41,088              35,952
-------------------------------------------------------------------------------------------------------------------
KANSAS                                  9,666.00                8,080.44            22,711              18,995.48
-------------------------------------------------------------------------------------------------------------------	

ITEM 3. - LEGAL PROCEEDINGS
Except as described hereafter, the Company is not a party to any pending material legal proceeding. To the knowledge of management, no federal, state or local governmental agency is presently contemplating any proceeding against the Company which would have a result materially adverse to the Company. To the knowledge of management, no director, executive officer or affiliate of the Company or owner of record or beneficially of more than 5% of the Company's common stock is a party adverse to the Company or has a material interest adverse to the Company in any proceeding.
1. On November 8, 2001, the Company signed a credit facility with Bank One, N.A. in Houston, Texas whereby Bank One extended to the Company a revolving line of credit of up to $35 million. The initial borrowing base under the facility was $10 million.
On April 5, 2002, the Company received a notice from Bank One stating that it had redetermined and reduced the then-existing borrowing base under the Credit Agreement by $6,000,000 to $3,101,766. Bank One demanded that the Company pay the $6,000,000 within thirty days. On May 2, 2002, the Company filed suit in federal court in the Eastern District of Tennessee, Northeastern Division at Greeneville to restrain Bank One from taking any steps pursuant to its Credit Agreement to enforce its demand that the Company reduce its loan obligation or else be deemed in default and for damages resulting from the wrongful demand.
TENGASCO, INC., TENGASCO LAND AND MINERAL CORPORATION AND TENGASCO PIPELINE CORPORATION V. BANK ONE, NA, DOCKET NO. 2:02-CV-118. It is the position of the Company that Bank One's demand that the Company reduce its loan from $9,101,776.66 to $3,101,776.66 within thirty days, coming only four months after the loan was made, in the absence of any change in the Company's production of oil and gas from the time the loan was closed or the condition of the Company's assets, without warning and prior to the receipt of a December 2002 reserve report, without any basis or explanation, is a violation of the Credit Agreement and an act of bad faith. The Company sought a jury trial and actual damages sustained by it as a result of the wrongful demand, in the amount of $51,000,000 plus punitive damages in the amount of $100 million.
29
On July 1, 2002, Bank One filed its answer and counterclaim, alleging that its actions were proper under the terms of the Credit Agreement, and in the counterclaim, seeking to recover all amounts it alleges to be owed under the Credit Agreement, including principal, accrued interest, expenses and attorney's fees in the approximate amount of $9 million. No hearings have occurred or been scheduled in the court proceeding. The Company has filed initial written discovery requests from Bank One. On November 5, 2002, the Company and the Bank reached preliminary agreement on terms of a potential settlement of the litigation, subject to execution of formal settlement documents. The Company has continued to pay the sum of $200,000 per month of principal due under the original terms of the Credit Agreement, plus interest, and has reduced the principal now outstanding to approximately $7.1 million. Although the parties continue to attempt to reach settlement of all outstanding issues under the preliminary agreement, the settlement has not been concluded. At a scheduling conference held by the Court on February 21, 2003, a procedural schedule has been set as requested by the Company leading toward a trial date of November 18, 2003 in the event settlement is not concluded.
2. On November 22, 2002, the Company and its then Chief Executive Officer, Malcolm E. Ratliff, were served with complaint filed in the United States District Court for the Eastern District of Tennessee, Knoxville, entitled PAUL MILLER V. M. E. RATLIFF AND TENGASCO, INC., DOCKET NUMBER 3:02-CV-644. The complaint seeks certification of a class action to recover on behalf of the class of all persons who purchased shares of the Company's common stock between August 1, 2001 and April 23, 2002, damages in an amount not specified which were allegedly caused by violations of the federal securities laws, specifically Rule 10b-5 issued under the Securities Exchange Act of 1934 as to the Company and Mr. Ratliff, and Section 20(a) the Securities Exchange Act of 1934 as to Mr. Ratliff. The complaint alleges that documents and statements made to the investing public by the Company and Mr. Ratliff misrepresented material facts regarding the business and finances of the Company. The Company's initial review of the allegations of the complaint against the Company discloses that the allegations do not appear to be well founded and are without merit. The Company intends to vigorously defend against all allegations of the complaint. The Company has filed a motion to dismiss the action based on the failure of the complaint to meet the requirements of the Securities Litigation Reform Act of 1995. If that motion is not granted, the Company will file its responsive pleading and will contest the class certification issues and the substantive allegations of the complaint.
3. The Company and its subsidiary, Tengasco Pipeline Corporation ("TPC"), were named as defendants in an action commenced on June 4, 2001 by C.H. Fenstermaker & Associates, Inc. ("Fenstermaker") in the United States District Court for the Eastern District of Tennessee entitled C.H. FENSTERMAKER & ASSOCIATES, INC. V. TENGASCO, INC., NO. 3:01-CV-283. The action seeks to recover approximately $365,000 in charges billed to TPC for engineering services in connection with the planning and construction of Phase II of the Company's pipeline, which runs from Rogersville to Kingsport, TN to serve Eastman Chemical Company and Holston Ordnance. On June 25, 2001, the Company and TPC filed an answer to the complaint denying liability for the billings claimed, and counterclaiming against Caddum, Inc. ("Caddum"), a division of Fenstermaker. The counterclaim seeks damages for breach of contract and breach of
30
professional engineering standards caused by Caddum, including unauthorized deviations from the pipeline route, which caused the Company to incur significant additional costs. These costs included fees for concrete capping of the pipeline as a result of the pipeline being placed to close to the adjoining highway right of way. The counterclaim further alleges that Caddum damaged the Company: by causing delays in completing the pipeline by failing to submit engineering drawings and failing to timely obtain certain x-rays of the pipeline welds; its unauthorized actions in ordering supplies and materials; and, overbilling from the agreed contract rate for engineering services. The District Court rescheduled the case for a non-jury trial on May 8, 2003. On February 27, 2003, the parties reached an agreement in principle for the settlement of this action, and settlement documents are being prepared for review by both parties. In general, the proposed settlement framework contemplates a reduction in the amount owed by the Company from that claimed in the complaint, and favorable extended payment terms.
4. TENGASCO PIPELINE CORPORATION V. JAMES E. LARKIN AND KATHLEEN A. O'CONNOR, No. 4929J in the Circuit Court for Hawkins County, Tennessee. This is a condemnation proceeding brought by Tengasco Pipeline Corporation to acquire a temporary construction easement and permanent right of way to maintain and operate a portion of Phase I of the Company's pipeline in Hawkins County, Tennessee. The court granted an order of possession to the Company in January, 1998 and the pipeline has been constructed across approximately 3,000 feet of the property concerned in a rural and very steep locale. The Company has had the right of way appraised at $4,000. The landowners, Mr. Larkin and Kathleen A. O Connor who both live on the property, contest the appraised value of the property and claim incidental damages to certain fish ponds located on their property. The landowners, despite a lack of evidence of any fish raising or aquaculture business actually being or having been operated on the premises or of any actual losses to such business, have counterclaimed for $867,585 in compensatory damages and $2.6 million in punitive damages arising from trespass and other legal theories. The Court required the parties to attempt to mediate this dispute and the mediation occurred in December, 2000. The parties were unable to reach a mediated settlement and the matter has most recently been scheduled for trial on January 29, 2003. The January 29, 2003 trial date has been continued by the Court to an unspecified future date. The Court has ordered the parties to a second mediation session which will occur in March or April, 2003. If settlement is not reached at mediation, the Company intends to vigorously defend the allegations of the counterclaim because trial preparations have not disclosed any fact that reasonably suggests a substantial adverse result in this matter and the allegations of the counterclaim appear to be without any credible basis.
5. The Company, its former Chief Executive Officer and former Director of the Company, Malcolm E. Ratliff, and one of the Company's attorneys, Morton S. Robson, were named as defendants in an action commenced in the Supreme Court of the State of New York, New York County entitled MAUREEN COLEMAN, JOHN O. KOHLER, CHARLES MASSOUD, JONATHAN SARLIN, VON GRAFFENRIED A.G. AND VPM VERWATUNGS A.G., PLAINTIFFS V. TENGASCO, INC., MORTON S. ROBSON AND MALCOLM E. RATLIFF, DEFENDANTS, INDEX NO. 603009/98. In that action, the plaintiffs, shareholders of the Company each of which purchased restricted shares of the Company's Common Stock, allege that although they were entitled to sell their shares pursuant to SEC Rule
31
144 in the open market, they were precluded from doing so by the defendants' purported wrongful refusal to remove the restrictive legend from their shares. The plaintiffs own in the aggregate 35,000 shares of the Company's common stock. The plaintiffs are seeking damages in an amount equal to the difference between the amount for which they would have been able to sell their shares if the defendants had acted to remove the restrictive legends when requested and the amount they will receive on the sale of their shares. The plaintiffs are also seeking punitive damages in an amount they claim to be in excess of $500,000 together with interest, costs and disbursements of bringing the action, including reasonable attorneys fees. This action has been partially settled by the Company agreeing to remove the restrictive legends on the plaintiffs' stock.
As for the balance of the action, the Company believes that there are several substantial factual and legal issues as to the date on which the shareholders were entitled to sell their stock pursuant to Rule 144. Management further believes that the Company did not wrongfully withhold its approval of the removal of the restrictive legends at the times such removal was requested by the shareholders. However, in the event the Company is found to have improperly withheld its permission to remove the restrictive legends from the shares owned by the shareholders, the Company may be held liable for damages to the shareholders in an amount equal to the difference between the actual sale price of such shares and the sales price they would have realized on the date such restrictive legends should have been permitted to be removed. At this time it is not possible to ascertain with any certainty what such damages would be. The plaintiffs have not taken any action in this matter for several years.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None during the fourth quarter of 2002.
32
 
PART II
ITEM 5 MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
MARKET INFORMATION
The Company's common stock was listed on the OTC Bulletin Board of the NASD from March 31, 1994 through December 20, 1999 under the symbol TNGO. On December 10, 1999, the American Stock Exchange ("AMEX") approved the application of the Company to have its common stock listed on the AMEX. Trading of the Company's common stock on the AMEX commenced on December 21, 1999 under the symbol TGC.
The range of high and low closing prices for shares of common stock of the Company during the fiscal years ended December 31, 2001 and December 31, 2002 are set forth below. The prices for the first three quarters of 2001 have been retroactively adjusted by a 5% reduction to take into account the 5% stock dividend declared by the Company payable on October 1, 2001 to all shareholders of record as of September 4, 2001.

                                                          HIGH               LOW
For the Quarters Ending

March 31, 2002                                            8.19              5.80

June 30, 2002                                             6.49              2.71

September 30, 2002                                        3.45              2.20

December 31, 2002                                         2.90              1.05

March 31, 2001                                           14.20              9.69

June 30, 2001                                            15.01             11.16

September 30, 2001                                       13.69              7.60

December 31, 2001                                        10.54              7.39	

33
HOLDERS
As of March 3, 2003 the number of shareholders of record of the Company's common stock was 205 and management believes that there are approximately 2,387 beneficial owners of the Company's common stock.
DIVIDENDS
The Company under its credit agreement with Bank One is presently restricted from paying dividends without Bank One's consent. The Company did not pay any dividends with respect to the Company's common stock in 2002 and has no present plans to declare any further dividends with respect to its common stock.
RECENT SALES OF UNREGISTERED SECURITIES
Except as previously reported in Quarterly Reports on Form 10-Q filed by the Company, no other equity securities that were not registered under the Securities Act of 1933, as amended, were sold or issued by the Company during 2002.
Management believes that all of the persons who were sold or issued common stock or preferred stock during 2002 that was not registered under the Securities Act of 1933, as amended, were either "accredited investors" as that term is defined under applicable federal and state securities laws, rules and regulations, or were persons who by virtue of background, education and experience who could accurately evaluate the risks and merits attendant to an investment in the securities of the Company. Further, all such persons were provided with access to all material information regarding the Company, prior to the offer or sale of these securities, and each had an opportunity to ask of and receive answers from directors, executive officers, attorneys and accountants for the Company. The offers and sales of such securities during 2002 are believed to have been exempt from the registration requirements of Section 5 of the 1933 Act, as amended, pursuant to Section 4(2) thereof, and from similar state securities laws, rules and regulations covering the offer and sale of securities by available state exemptions from such registration.
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data have been derived from the Company's financial statements, and should be read in conjunction with those financial statements, including the related footnotes.
Years Ended December 31(4),

(4) All references in this table to common stock and per share data have been retroactively adjusted to reflect the 5% stock dividend declared by the Company effective as of September 4, 2001.

34

                                  2002              2001             2000              1999            1998
---------------------------------------------------------------------------------------------------------------------
INCOME STATEMENT DATA:
---------------------------------------------------------------------------------------------------------------------
Oil and Gas Revenues           $5,437,723        $6,656,758       $5,241,076        $3,017,252      $2,078,101
---------------------------------------------------------------------------------------------------------------------
Production Costs and Taxes     $3,094,731        $2,951,746       $2,614,414        $2,564,932      $1,943,944
---------------------------------------------------------------------------------------------------------------------
General and Administrative     $1,868,141        $2,957,871       $2,602,311        $1,961,348      $1,372,132
---------------------------------------------------------------------------------------------------------------------
Interest Expense               $578,039          $850,965         $415,376          $417,497        $574,906
---------------------------------------------------------------------------------------------------------------------
Net Loss                       $(3,154,555)      $(2,262,787)     $(1,541,884)      $(2,671,923)    $(3,083,638)
---------------------------------------------------------------------------------------------------------------------
Net Loss Attributable to
Common Stockholders            $(3,661,334)      $(2,653,970)     $(1,799,441)      $(2,791,270)    $(3,083,638)
---------------------------------------------------------------------------------------------------------------------
Net Loss Attributable to       $(0.33)           $(0.26)          $(0.19)           $(0.33)         $(0.42)
Common Stockholders Per
Share
---------------------------------------------------------------------------------------------------------------------	

As of December 31(5 6),

                                        2002               2001             2000             1999             1998
---------------------------------------------------------------------------------------------------------------------
BALANCE SHEET DATA:
---------------------------------------------------------------------------------------------------------------------
Working Capital Deficit          $(7,998,835)        $(6,326,204)     $(708,317)       $(1,406,263)     $(1,929,215)
---------------------------------------------------------------------------------------------------------------------
Oil and Gas Properties, Net      $13,864,321         $13,269,930      $9,790,047       $8,444,036       $7,747,655
---------------------------------------------------------------------------------------------------------------------
Pipeline Facilities, Net         $15,372,843         $15,039,762      $11,047,038      $4,212,842       $4,019,209
---------------------------------------------------------------------------------------------------------------------
Total Assets                     $32,584,391         $32,128,245      $25,224,724      $15,182,712      $13,525,777
---------------------------------------------------------------------------------------------------------------------
Long-Term Debt                   $2,006,209          $3,902,757       $7,108,599       $3,119,293       $3,190,930
---------------------------------------------------------------------------------------------------------------------
Redeemable Preferred Stock       $6,762,218          $5,459,050       $3,938,900       $1,988,900       $800,000
---------------------------------------------------------------------------------------------------------------------
Stockholders Equity              $14,210,623         $14,991,847      $10,864,202      $7,453,930       $7,245,090
---------------------------------------------------------------------------------------------------------------------	

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
RESULTS OF OPERATIONS
The Company incurred a net loss to holders of common stock of $3,661,344
($0.33 per share) in 2002 compared to a net loss of $2,653,970 ($0.26 per share)
in 2001 and $1,799,441 ($0.19 per share) of common stock in 2000.

(5) With respect to the pipeline facilities, during the years ended December 31, 2000, 1999, and 1998, this included portions which were under construction.
(6) No cash dividends have been declared or paid by the Company for the periods presented.
35
The Company realized oil and gas revenues of $5,437,723 in 2002 as compared to $6,656,758 in 2001 and $5,241,076 in 2000. The decrease in revenues in 2002 from 2001 was due to a decrease in volumes produced in 2002 from the volumes produced in 2001. Gas produced from the Swan Creek Field was 717,701 MCF in 2002 as compared to 966,967 MCF in 2001, resulting in approximately $800,000 in reduced revenues. Oil production from the Swan Creek Field was 20,122 barrels in 2002, down from 30,323 barrels in 2001, resulting in approximately $200,000 in reduced revenues. Gas production from the Kansas Properties was 287,198 MCF in 2002 compared to 324,915 MCF in 2001, resulting in approximately $100,000 in reduced revenues. Oil production from the Kansas Properties was 137,851 barrels in 2002 compared to 147,029 barrels in 2001, resulting in approximately $200,000 in reduced revenues. The reason for the decrease in volumes produced in 2002 was the Company's dispute with Bank One which significantly limited the Company's ability to drill new wells and to work over under producing wells in Kansas. The increased revenues in 2001 of $6,656,758 compared to $5,241,076 in 2000 was primarily due to gas sales from the Swan Creek field of $2,563,935 being made for the first time during 2001. However, oil sales decreased by approximately $951,000 in 2001 from 2000 levels due to price decreases, as the number of barrels produced remained constant.
The Company's subsidiary, TPC, had pipeline transportation revenues of $259,677 in 2002, a decrease compared to of $296,331 in 2001, the first year of transportation revenues.
The Company's production costs and taxes have increased each year from 2000 to 2002 as additional costs have been incurred to maintain the Kansas Properties and to begin production from the Swan Creek Field in 2001 and to maintain it in 2002. The production costs and taxes increased from $2,951,746 in 2001 to $3,094,731 in 2002. An increase in 2001 of $337,332 in production costs and taxes as compared to 2000 was due primarily to the commencement of production from the Swan Creek Field.
Depletion, depreciation, and amortization increased significantly in 2002 to $2,413,597 over 2001 and 2000 levels of $1,849,963 and $371,249, respectively. The primary reason for the increase from 2002 over 2001 was due to depreciation being taken for the first time for a full year on the Company's pipeline facilities in 2002, whereas only a half year of depreciation was taken in 2001 after the pipeline was placed in service in mid-year. Also, approximately $186,000 of loan fees were amortized in 2002. The primary increase in 2001 from 2000 was due to significant increases in depletion expense during 2001 ($1,142,000) as a result of the following: decreases in reserve estimates on oil and gas properties arising from declining commodity prices; certain of the Company's gas wells had decreased production levels at year-end due to problems encountered with liquids in the wells. This decreased production level at year-end was factored into the estimated future proved reserves calculation performed as of December 31, 2001, resulting in a lower future proved reserves estimate. Additionally, in 2001 the Company took depreciation on the pipeline for the first time ($220,371).
The Company has significantly reduced its general administrative costs to $1,868,141 in 2002 from $2,957,871 in 2001. Management has made a significant
36
effort to control costs in every aspect of its operations. Some of these cost reductions include the closing of the New York office and a reduction in personnel from 2001 levels. General and administrative expenses had increased to $2,957,871 in 2001 from $2,602,311 in 2000. The increases in 2001 from 2000 were attributable to an increase in insurance of approximately $400,000 in 2001 to expand coverage including blowout insurance and the addition of Company provided medical insurance for employees.
Interest expense for 2002 decreased significantly over 2001 levels due to the reduced interest rate on the Bank One loan over the rate applicable under previous financing arrangements. Interest expense in 2002 was $578,039 compared to $850,965 in 2001. Interest expense for 2001 had in turn increased significantly from $415,376 in 2000. This increase was due to additional interest cost associated with financing for the completion of Phase II of the Company's 65 mile pipeline. The increase in 2001 was reduced by interest cost of approximately $148,000 which was capitalized in the first 3 months of 2001 during construction of the pipeline. Interest of $128,000 was capitalized in 2000.
Public relations costs were significantly reduced in 2002 to $193,229 from $293,448 in 2001 as the Company applied cost saving methods in the preparation of the Annual Report and in publishing of press releases. Public relations costs increased to $293,448 in 2001 as compared to 2000 costs of $106,195 due to costs associated with producing the annual report, the proxy statement, and press releases.
Professional fees increased to $707,296 in 2002 from $355,480 in 2001 due to legal and accounting services primarily related to the Bank One litigation and new accounting regulations. Professional fees had decreased substantially in 2001 from 2000 fees of $719,320 which included a charge in 2000 of $242,000 for stock options issued in 2000 to non-employees.
Dividends on preferred stock increased to $506,789 in 2002 from $391,183 in 2001 and from $257,557, in 2000 as a result in the increase in the amount of preferred stock outstanding.
LIQUIDITY AND CAPITAL RESOURCES
On November 8, 2001, the Company signed a credit facility agreement (the "Credit Agreement") with the Energy Finance Division of Bank One, N.A. in Houston Texas ("Bank One") whereby Bank One extended to the Company a revolving line of credit of up to $35 million. The initial borrowing base under the Credit Agreement was $10 million. On November 9, 2001, funds from the Bank One credit line were used to (1) satisfy existing indebtedness on the Company's Kansas Properties ($1,427,309); (2) payoff the internal financing provided by Directors and shareholders of the Company for the completion of the Company's 65 mile intrastate pipeline ($3,895,490); (3) payoff a
37
note due to Spoonbill, Inc. for funds borrowed by the Company for working capital ($1,080,833); (4) payoff a note due to Malcolm E. Ratliff, the Company's Chief Executive Officer, for purchase by the Company of a drilling rig and related equipment ($1,003,844); and, (5) payoff the remaining balance of a loan made to the Company for working capital by Edward W.T.Gray III, a former Director of the Company, due on December 31, 2001 ($304,444). All of these obligations incurred interest at a rate substantially greater than the rate being charged by Bank One under the Credit Agreement. Together with attorneys fees, mortgage taxes in Tennessee and Kansas and related fees the total drawn down on November 9, 2001 from the credit facility was $7,901,776.
On or about April 5, 2002, the Company received a notice from Bank One stating that it had redetermined and reduced the borrowing base under the Credit Agreement to $3,101,776.66 and the Bank required a $6 million reduction of the outstanding loan.
The schedule of reserve reports required by the Credit Agreement upon which such redeterminations were to be based specifically established a procedure involving an automatic monthly principal payment of $200,000 commencing February 1, 2002. The Company has remained current in payments of this monthly principal reduction through March 1, 2003. As of the date of this Report, the outstanding principal balance under the Credit Agreement was $6,901,776.66.
As a result of Bank One's unexpected reduction of the borrowing base and the corresponding demand for payment of $6 million, combined with the fact that the Company is still in the early stages of its oil and gas operating history during which time it has had a history of losses from operations and has an accumulated deficit of $27,776,726 and a working capital deficit of $7,998,835 as of December 31, 2002, the Company's independent auditors indicated in their report on the audit of the Company's consolidated financial statements for the year ended December 31, 2002 that the Company's ability to continue as a going concern is uncertain. The Company's ability to continue as a going concern depends upon its ability to obtain long-term debt or raise capital and satisfy its cash flow requirements.
On May 2, 2002, the Company filed suit against Bank One in Federal Court in the Eastern District of Tennessee, Northeastern Division at Greeneville, Tennessee to restrain Bank One from taking any steps pursuant to its Credit Agreement with the Company to enforce its demand that the Company reduce its loan obligation or else be deemed in default and for actual and punitive damages resulting from the wrongful demand in the amount of $150 million.
On July 1, 2002, Bank One filed its answer and counterclaim, alleging that its actions were proper under the terms of the Credit Agreement, and in the counterclaim, seeking to recover all amounts it alleges to be owed under the Credit
38
Agreement, including principal, accrued interest, expenses and attorney's fees in the approximate amount of $9 million.
On November 5, 2002, the Company and Bank One concluded a series of meetings and correspondence by reaching preliminary agreement upon the basic terms of a potential settlement. Any settlement is conditioned upon execution of final settlement documents, and the parties agreed to attempt to close the settlement by November 29, 2002. The principal element of the settlement proposal is for the Bank and the Company to enter into an amended and restated agreement for a new term loan to replace the prior revolving credit facility. The proposed settlement agreement would place specific limits and requirement upon any ability of Bank One to require a reduction of the loan balance. Such a reduction could only occur in the event the value of the oil and gas reserves of the Company falls below an agreed-upon figure in relation to the loan balance, pursuant to a formula which management is satisfied provides ample protection against any future reasonable likelihood of a similar problem arising in the manner causing initiation of the litigation between the Company and Bank One. As of the date of this report, the Company and Bank One continue to negotiate the terms of a mutually satisfactory settlement agreement.
Even if the Company concludes a settlement with Bank One, the Company does not anticipate that it will be able to either increase its borrowing base under the Bank One Credit Agreement or to borrow any additional sums from Bank One. To fund additional drilling and to provide additional working capital, the Company would be required to pursue other options. Such options would include debt financing, sale of equity interests in the Company, a joint venture arrangement, the sale of oil and gas interests, etc. The inability of the Company to obtain the necessary cash funding on a timely basis would have an unfavorable effect on the Company's financial condition and would require the Company to materially reduce the scope of its operating activities.
The harmful effects upon operations of the Company caused by the actions of Bank One and the ongoing litigation with Bank One in 2002 have been dramatic. First, the action of Bank One in April, 2002 (less than five months after it had entered into the credit facility agreement with the Company and received substantial fees for the providing the credit facility) of reducing the Company's credit line to a point $6 million below its then-existing indebtedness and then calling for payment of that $6 million within thirty days had the effect of totally cutting off any additional funds to the Company to support Company operations. Further, the funds loaned to the Company by Bank One had been used to refinance the Company's indebtedness and no funds were then available to pay this large repayment obligation to Bank One, even if such action by the Bank was proper, which the Company has vigorously and continually denied. The principal reason the Company had entered into the Bank One credit agreement was to provide for additional funds to promote the growth of the Company. Consequently, as a result of Bank One's unwarranted actions no additional funds under the credit facility agreement were available in 2002 for additional drilling that the Company had anticipated performing in the Swan Creek Field and which were critical to the
39
development of that Field. In order for overall field production to remain steady or grow in a field such as the Swan Creek Field, new wells must be brought online. Any of the new wells drilled by the Company would also experience a relatively steep initial decline curve followed by longer periods of relatively flat or stable production decline, as does every natural gas well in a formation similar to the Knox formation, so continuous drilling is vital to maintaining or increasing earlier levels of production. Only two gas wells were added by the Company in 2002 due to the destabilized lending arrangements caused by the actions of Bank One and ongoing litigation.
Second, the existence of the dispute with Bank One, compounded by the fact that an effect of Bank One's action was to cause the Company's auditors to indicate that their was an uncertainty over the Company's ability to continue as a going concern, has significantly discouraged other institutional lenders from considering a variety of additional or replacement financing options for drilling and other purposes that may have ordinarily been available to the Company. Third, the dispute has caused Bank One to fail to grant permission under the existing loan agreements with the Company to permit the Company to formulate drilling programs involving potential third party investors that may have permitted additional drilling to occur. Finally, the dispute has caused the Company to incur significant legal fees to protect the Company's rights.
The Company believes that the total volume of the Company's reserves in the Swan Creek Field remains largely intact, and that these reserves can be extracted through existing wells and by steady additional drilling brought on by reliable financial arrangements. The Company plans to drill as many as twenty additional wells in the heart of this Field and has obtained approval from the Tennessee regulatory authorities with jurisdiction over spacing of wells to drill on smaller spacing units in the Field, effectively allowing more wells to be drilled and the reservoir to produce more quickly but with no decrease in the long term efficiency of production of the maximum amount of reserves from the reservoir. The Company is hopeful that production from these new wells will be in line with the production from its more productive existing wells in the Swan Creek Field and will have a noticeable effect on increasing the total production from the Field. Although no assurances can be made, the Company believes that it will either be able to resolve the Bank One dispute or obtain additional or replacement financing to allow drilling to increase, and that once new wells are drilled, production from the Swan Creek Field will increase. However, no assurances can be made that such financing will be obtained or that overall produced volumes will increase.
Similarly, when funding for additional drilling becomes available, the Company plans to drill wells in five new locations it has identified in Ellis and Rush Counties, Kansas on its existing leases in response to drilling activity in the area establishing new areas of oil production. Although the Company successfully drilled the Dick No. 7 well in Kansas in 2001 and completed the well as an oil well, it was not able to drill any new wells in Kansas in 2002 due to lack of funds available for such drilling caused by the Bank One situation. As with Tennessee, the Company is hopeful that
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once the Bank One matter is resolved it will be able to resume drilling and well workovers in Kansas to maximize production from the Kansas Properties.
As of December 31, 2002, the Company had total stockholders' equity of $14,210,623 on total assets of $32,584,391. The Company has a net working capital deficiency at December 31, 2002 of $7,998,835 as compared to a net deficiency of $6,326,204 at December 31, 2001. This working capital deficiency arises primarily from the acceleration of $6,000,000 of the Bank One credit facility debt discussed above.
Net cash used in operating activities increased from $221,176 in 2001 to $566,017 in 2002. The Company's net loss in 2002 increased to $3,154,555 from $2,262,787 in 2001. The impact on cash used due to the net loss for 2001 was offset by non-cash depletion, depreciation and amortization of $2,413,597. Cash flow from working capital items in 2002 was $126,321 as compared to $232,338 in 2001. This resulted from increases in accounts payable of $188,597, and an increase in accrued liabilities of $31,805 and an increase in other current assets of $58,000, partially offset by an increase in accounts receivable of $69,192 and an increase in inventory of $103,384.
Net cash used in operating activities decreased from $820,615 in 2000 to $221,176 in 2001. The Company's net loss in 2001 increased to $2,262,787 from $1,541,884 in 2000. The impact on cash used due to the net loss for 2001 was primarily offset by non-cash depletion, depreciation and amortization of $1,849,963 and non-cash compensation and services paid by issuance of equity instruments of $92,253. Cash flow from working capital items in 2001 was $232,338 as compared to $66,020 in 2000. This resulted from increases in accounts payable of $191,702, and decreases in inventory of $91,981 and accounts receivable of $3,814, partially offset by a decrease in accrued interest payable of $2,519 and a decrease in accrued liabilities of $52,640.
Net cash used in investing activities amounted to $2,889,937 for 2002 compared to net cash used in the amount of $9,408,684 for 2001. The decrease in net cash used for investing activities during 2002 is primarily attributable to the construction of Phase II of the pipeline of $4,213,095 in 2001 as compared to $841,750 in 2002, additions to oil and gas properties of $4,821,883 in 2001 as compared to $1,982,529 in 2002.
Net cash used in investing activities amounted to $9,408,684 for 2001 as compared to $8,936,863 for 2000. The increase in net cash used for investing activities during 2001 was primarily attributable to additions to oil and gas properties of $4,821,883 in 2001 as compared to $1,456,996 in 2000. This was offset by a reduction in expenditures used for the construction of Phase II of the pipeline of $4,213,095 due to its completion in 2001 compared to $6,834,196 in 2000 and a reduction of expenditures used for additions to other property and equipment of $285,722 in 2001 as compared to $1,276,783 in 2000.
Net cash provided by financing activities decreased to $3,246,633 in 2002 from $8,419,336 in 2001. This was due to the Company's inability to enter into new financing
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arrangements in 2002 as a result of its dispute with Bank One as discussed above. In 2001 the primary sources of financing includes proceeds from borrowings of $10,442,068 as compared to $2,063,139 in 2002, private placements of common stock of $3,900,000 in 2001 as compared to $2,677,000 in 2002 and convertible redeemable preferred stock of $l,591,150 in 2001 as compared to $1,303,168 in 2002 and proceeds from exercise of options of $2,341,000 in 2001 as compared to zero in 2002 as the market price of the Company's stock fell below the exercise price of the earlier granted options. The primary use of cash in financing activities in 2001 was the use of the funds received from Bank One to repay the Company's prior borrowings of $8,833,325 as compared to 2002 when cash from financing activities of $2,378,273 was used primarily to make payments to Bank One in 2002 and for working capital.
Net cash provided by financing activities amounted to $8,419,336 in 2001 as compared to $10,940,863 in 2000. The primary sources of financing include proceeds from borrowings of $10,442,068 in 2001 as compared to $6,493,563 in 2000, private placements of common stock of $3,900,000 in 2001 as compared to $4,245,700 in 2000, convertible redeemable preferred stock of $1,591,150 in 2001 as compared to $2,000,000 in 2000 and proceeds from exercise of options of $2,341,000 in 2001 as compared to $180,013 in 2000. The primary use of cash in financing activities was the repayment of borrowings of $8,833,325 in 2001 as compared to $1,720,856 in 2000.
CRITICAL ACCOUNTING POLICIES
The Company's accounting policies are described in the Notes to Consolidated Financial Statements in Item 8 of this Report. The Company prepares its Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America, which requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. The Company considers the following policies to be the most critical in understanding the judgments that are involved in preparing the Company's financial statements and the uncertainties that could impact the Company's results of operations, financial condition and cash flows.
FULL COST METHOD OF ACCOUNTING
The Company follows the full cost method of accounting for oil and gas property acquisition, exploration and development activities. Under this method, all productive and non-productive costs incurred in connection with the acquisition of, exploration for and development of oil and gas reserves for each cost center are capitalized. Capitalized costs include lease acquisitions, geological and geophysical work, daily rentals and the costs of drilling, completing and equipping oil and gas wells. The Company capitalized $1,982,529, $4,821,883 and $1,456,996 of these costs in 2002, 2001 and 2000, respectively. Costs, however, associated with
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production and general corporate activities are expensed in the period incurred. Interest costs related to unproved properties and properties under development are also capitalized to oil and gas properties. Gains or losses are recognized only upon sales or dispositions of significant amounts of oil and gas reserves representing an entire cost center. Proceeds from all other sales or dispositions are treated as reductions to capitalized costs.
OIL AND GAS RESERVES/DEPLETION DEPRECIATION
AND AMORTIZATION OF OIL AND GAS PROPERTIES
The capitalized costs of oil and gas properties, plus estimated future development costs relating to proved reserves and estimated costs of plugging and abandonment, net of estimated salvage value, are amortized on the unit-of-production method based on total proved reserves. The costs of unproved properties are excluded from amortization until the properties are evaluated, subject to an annual assessment of whether impairment has occurred.
The Company's proved oil and gas reserves as at December 31, 2002 were estimated by Ryder Scott, L.P., Petroleum Consultants. The Company's discounted present value of its proved oil and gas reserves requires subjective judgments. Estimates of the Company's reserves are in part forecasts based on engineering data, projected future rates of production and timing of future expenditures. The process of estimating oil and gas reserves requires substantial judgment, resulting in imprecise determinations, particularly for new discoveries. Different reserve engineers may make different estimates of reserve quantities based on the same data. The passage of time provides more qualitative information regarding estimates of reserves and revisions are made to prior estimates to reflect updated information. Given the volatility of oil and gas prices, it is also reasonably possible that the Company's estimate of discounted net cash flows from proved oil and gas reserves could change in the near term. If oil and gas prices decline significantly this will result in a reduction of the valuation of the Company's reserves. This past year, Ryder Scott based on production results and the increase of oil and gas prices, increased the Company's estimated value of reserves of gas in the Swan Creek Field from its reserve report for the year ended December 31, 2001. See, "Item 2 - Description of Property - Reserve Analysis".
CONTINGENCIES
The Company accounts for contingencies in accordance with Financial Accounting Standards Board Statement of Financial Accounting Standards ("SFAS") No. 5, "Accounting Contingencies." SFAS No. 5 requires that we record an estimated loss from a loss contingency when information available prior to the issuance of the Company's financial statements indicate that it is probable an asset has been impaired or a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Accounting for contingencies such as environmental, legal and income tax matters requires management of the Company to use its judgment. While management of the Company believes that the Company's accrual for these matters are adequate, if the actual loss from a loss contingency is significantly
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different from the estimated loss, the Company's results of operations may be over or understated. The primary area in which the Company has to estimate contingent liabilities is with respect to legal actions brought against the Company. See. Item 3 - Legal Proceedings."
RECENT ACCOUNTING PRONOUNCEMENTS
In July 2001, the Financial Accounting Standards Board ("FASB") issued SFAS No. 141, "Business Combinations" and SFAS No.142, "Goodwill and Other Intangible Assets". SFAS No. 141 addresses the initial recognition and measurement of goodwill and other intangible assets acquired in a business combination and SFAS No. 142 addresses the initial recognition and measurement of intangible assets acquired outside of a business combination whether acquired individually or with a group of other assets. These standards require all future business combinations to be accounted for using the purchase method of accounting. Goodwill will no longer be amortized but instead will be subject to impairment tests at least annually. The Company was required to adopt SFAS No. 141 on July 1, 2001, and to adopt SFAS 142 on a prospective basis as of January 1, 2002. The Company has not effected a business combination and carries no goodwill on its balance sheet; accordingly, the adoption of these standards did not have an effect on the Company's financial position or results of operations.
In 2001, the FASB issued SFAS No.143, "Accounting for Asset Retirement Obligations." SFAS No. 143 addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. This statement requires companies to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset's carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company's asset retirement obligations relate primarily to the plugging dismantlement, removal, site reclamation and similar activities of its oil and gas properties. Prior to adoption of this statement, such obligations were accrued ratably over the productive lives of the assets through its depreciation, depletion and amortization for oil and gas properties without recording a separate liability for such amounts. The Company has adopted SFAS 143 beginning on January 1, 2003; however, the effect of adoption of this statement on future results of operations or financial position has not yet been determined by management.
SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, addresses accounting and reporting for the impairment or disposal of long-lived assets. SFAS No. 144 supersedes SFAS No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of. SFAS No. 144 establishes a single accounting model for long-lived assets to be disposed of by sale and expands on the guidance provided by SFAS No. 121 with respect to cash flow estimations. SFAS No. 144 became effective for the Company's fiscal year beginning January 1, 2003. Management does not expect that adoption of this standard will have a material impact on the Company's financial position or results of operations.
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The FASB issued Statement No. 145, Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections, on April 30, 2002. SFAS No.145 will be effective for fiscal years beginning after May 15, 2002. This statement rescinds SFAS No. 4, Reporting Gains and Losses From Extinguishment of Debt, and requires that all gains and losses from extinguishment of debt should be classified as extraordinary items only if they meet the criteria in APB No. 30. Applying APB No. 30 will distinguish transactions that are part of an entity's recurring operations from those that are unusual or infrequent or that meet the criteria for classification as an extraordinary item. Any gain or loss on extinguishment of debt that was classified as an extraordinary item in prior periods presented that does not meet the criteria in APB No. 30 for classification as an extraordinary item must be reclassified. There is no current impact of adoption on the Company's financial position or results of operation.
The FASB issued Statement No. 146, Accounting for Costs Associated with Exit or Disposal Activities, in June 2002. SFAS No. 146 addresses financial accounting and reporting for costs associated with exit or disposal activities and nullifies Emerging Issues Task Force Issue No. 94-3, Liability Recognition for Certain Employee Termination Benefits and Other Costs to Exit an Activity (including Certain Costs incurred in a Restructuring). SFAS No. 146 applies to costs incurred in an "exit activity", which includes, but is not limited to, re-structuring, or a "disposal activity" covered by SFAS No. 144.
SFAS No. 146 requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred. Previously, under Issue 94-3, a liability for an exit cost was recognized at the date of an entity's commitment to an exit plan. Statement No. 146 also establishes that fair value is the objective for initial measurement of the liability. The provisions of SFAS No. 146 are effective for exit or disposal activities that are initiated after December 31, 2002. Management does not expect that adoption of this standard will have a material effect on the Company's financial position or results of operation.
In November 2002, the FASB issued Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness to Others, an interpretation of FASB Statements No.5, 57 and 107 and a rescission of FASB Interpretation No. 34. This Interpretation elaborates on the disclosures to be made by a guarantor in its interim and annual financial statements about its obligations under guarantees issued. The Interpretation also clarifies that a guarantor is required to recognize, at inception of a guarantee, a liability for the fair value of the obligation undertaken. The initial recognition and measurement provisions of the Interpretation are applicable to guarantees issued or modified after December 31, 2002. The Company has not guaranteed the debts of others, therefore, this interpretation is not expected to have a material effect on the Company's financial statements.
In December 2002, the FASB issued SFAS No. 148, Accounting for Stock-Based Compensation -- Transition and Disclosure, an amendment of FASB Statement No.123. This Statement amends FASB Statement No. 123, Accounting for Stock-Based Compensation, to provide alternative methods of transition for a voluntary change to the fair value method
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of accounting for stock-based employee compensation. In addition, this Statement amends the disclosure requirements of Statement No. 123 to require prominent disclosures in both annual and interim financial statements. Management has adopted certain of the disclosure modifications are required for fiscal years ending after December 15, 2002 and are included in the notes to the accompanying consolidated financial statements.
In January 2003, the FASB issued Interpretation No. 46, Consolidation of Variable Interest Entities, an Interpretation of Accounting Research Bulletin No. 51. Interpretation No. 46 requires a company to consolidate a variable interest entity if the company has a variable interest (or combination of variable interests) that will absorb a majority of the entity's expected losses if they occur, receive a majority of the entity's expected residual returns if they occur, or both. A direct or indirect ability to make decisions that significantly affect the results of the activities of a variable interest entity is a strong indication that a company has one or both of the characteristics that would require consolidation of the variable interest entity. Interpretation No. 46 also requires additional disclosures regarding variable interest entities. The new interpretation is effective immediately for variable interest entities created after January 31, 2003, and is effective in the first interim or annual period beginning after June 15, 2003, for variable interest entities in which a company holds a variable interest that it acquired before February 1, 2003. Management does not expect that adoption of this interpretation will have a material effect on the Company's financial position or results of operation.
ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS
COMMODITY RISK
The Company's major market risk exposure is in the pricing applicable to its oil and gas production. Realized pricing is primarily driven by the prevailing worldwide price for crude oil and spot prices applicable to natural gas production. Historically, prices received for oil and gas production have been volatile and unpredictable and price volatility is expected to continue. Monthly oil price realizations ranged from a low of $18.56 per barrel to a high of $27.49 per barrel during 2002. Gas price realizations ranged from a monthly low of $1.91 per Mcf to a monthly high of $4.01 per Mcf during the same period.
As required by its Credit Agreement with Bank One, the Company entered into hedge agreements on December 28, 2001 on notional volumes of oil and natural gas production for the first six months of 2002 in order to manage some exposure to oil and gas price fluctuations. Realized gains or losses from the Company's price risk management activities will be recognized in oil and gas production revenues when the associated production occurs. Notional volumes associated with the Company's derivative contracts are 27,000 barrels and 630,000 MMBTU's for oil and natural gas, respectively. The Company does not generally hold or issue derivative instruments for trading purposes. These hedge agreements expired in June 2002
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and have not been renewed. Hedging activities resulted in a loss to the Company of approximately $118,000 for the year ended December 31, 2002.
INTEREST RATE RISK
At December 31, 2002, the Company had debt outstanding of approximately $9.9 million. The interest rate on the revolving credit facility of $7.5 million is variable based on the financial institution's prime rate plus 0.25%. The remaining debt of $2.4 million has fixed interest rates ranging from 6% to 11.95%. As a result, the Company's annual interest costs in 2002 fluctuated based on short-term interest rates on approximately 78% of its total debt outstanding at December 31, 2002. The impact on interest expense and the Company's cash flows of a 10 percent increase in the financial institution's prime rate (approximately 0.5 basis points) would be approximately $32,000, assuming borrowed amounts under the credit facility remain at $7.5 million. The Company did not have any open derivative contracts relating to interest rates at December 31, 2002.
FORWARD-LOOKING STATEMENTS AND RISK
Certain statements in this report, including statements of the future plans, objectives, and expected performance of the Company, are forward-looking statements that are dependent upon certain events, risks and uncertainties that may be outside the Company's control, and which could cause actual results to differ materially from those anticipated. Some of these include, but are not limited to, the market prices of oil and gas, economic and competitive conditions, inflation rates, legislative and regulatory changes, financial market conditions, political and economic uncertainties of foreign governments, future business decisions, and other uncertainties, all of which are difficult to predict.
There are numerous uncertainties inherent in estimating quantities of proved oil and gas reserves and in projecting future rates of production and the timing of development expenditures. The total amount or timing of actual future production may vary significantly from reserves and production estimates. The drilling of exploratory wells can involve significant risks, including those related to timing, success rates and cost overruns. Lease and rig availability, complex geology and other factors can also affect these risks. Additionally, fluctuations in oil and gas prices, or a prolonged period of low prices, may substantially adversely affect the Company's financial position, results of operations and cash flows.
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ITEM 8 FINANCIAL STATEMENTS
The financial statements and supplementary data commence on page F-1.
ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
Not Applicable
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PART III
ITEM 10 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
IDENTIFICATION OF DIRECTORS AND EXECUTIVE OFFICERS
The following table sets forth the names of all current directors and executive officers of the Company. These persons will serve until the next annual meeting of stockholders (to be held at such time as the Board of Directors shall determine) or until their successors are elected or appointed and qualified, or their prior resignations or terminations.

                                                                 Date of Initial
                                      Positions                  Election or
Name                                  Held                       Designation
----                                  ----                       -----------
Stephen W. Akos                       Director                   2/28/03
8000 Maryland Avenue
St. Louis, MO 63105

Joseph E. Armstrong                   Director                   3/13/97
4708 Hilldale Drive
Knoxville, TN 37914

Jeffrey R. Bailey                     Director;                  2/28/03
2306 West Gallaher Ferry              President                  6/17/02
Knoxville, TN 37932

John A. Clendening                    Director                   2/28/03
1031 Saint Johns Drive
Maryville, TN 37801

Robert L. Devereux                    Director                   2/28/03
10 South Brentwood Blvd.
St. Louis, MO 63105

Bill L. Harbert      .                Director                   4/2/02
820 Shaders Creek Pkway
Birmingham, AL 35209

Peter E. Salas                        Director                   10/8/02
129 East 17th Street
New York, NY 10003	

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Charles M. Stivers                    Director                   9/28/01
420 Richmond Road
Manchester, KY 40962

Richard T. Williams                   Director;                  6/28/02
4472 Deer Run Drive                   Chief Executive             2/3/03
Louisville, TN 37777                  Officer

Mark A. Ruth                          Chief Financial           12/14/98
9400 Hickory Knoll Lane               Officer
Knoxville, TN 37922

Robert M. Carter                      President Tengasco          6/1/98
760 Prince George Parish Drive        Pipeline Corporation
Knoxville, TN 37931

Cary V. Sorensen                      General Counsel;           07/9/99
509 Bretton Woods Dr.                 Secretary
Knoxville, TN 37919

Sheila F. Sloan                       Treasurer                  12/4/96
121 Oostanali Way
Loudon, TN 37774	

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
In fiscal 2002, Malcolm E. Ratliff, formerly a Director of the Company and its Chief Executive Officer in 2002, failed to timely file one Form 4 Report involving two transactions. Mr. Ratliff also recently filed an untimely Form 5 Report which indicated he failed to file Form 4 Reports for two transactions, one in October 2002 and the other in December 2002. Benton L. Becker, who was a Director of the Company in 2002, also failed to timely file one Form 4 Report involving three transactions.
BUSINESS EXPERIENCE
DIRECTORS
Stephen W. Akos is 49 years old. He has over twenty years experience in the financial services industry with an expertise in fixed income securities. Since August of 2000, he has been First Vice President, Institutional Fixed Income Sales, Robert W. Baird & Co., St. Louis, Missouri. Prior to 2000, he held executive positions with Mercantile Bank and Mark Twain Bank since 1993. Before 1993 he was a broker and
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held a series of executive positions at brokerage firms Dean Witter, Shearson Lehman Hutton, Drexel Burnham Lambert, and Kidder Peabody in St. Louis. He received an MBA in Finance from Washington University in 1979, and a B.S. in Business Administration, Accounting, from Washington University in 1976. He has been a shareholder of the Company for approximately six years. He was elected as a Director of the Company on February 28, 2003.
Joseph Earl Armstrong is 46 years old and a resident of Knoxville, Tennessee. He is a graduate of the University of Tennessee and Morristown College where he received a Bachelor of Science Degree in Business Administration. From 1988 to the present, he has been an elected State Representative for Legislative District 15 in Tennessee. From 1994 to the present he has been in charge of government relations for the Atlanta Life Insurance Co. From 1981 to 1994 he was a District Manager for the Atlanta Life Insurance Co. He has served as Director of the Company since 1997.
Jeffrey R. Bailey is 45 years old. He graduated in 1980 from New Mexico Institute of Mining and Technology with a B.S. degree in Geological Engineering. Upon graduation he joined Gearhart Industries as a field engineer working in Texas, New Mexico, Kansas, Oklahoma and Arkansas. Gearhart Industries later merged with Halliburton Company. In 1993 after 13 years working in various field operations and management roles primarily focused on reservoir evaluation, log analysis and log data acquisition he assumed a global role with Halliburton as a Petrophysics instructor in Fort Worth, Texas. His duties were to teach Halliburton personnel and customers around the world log analysis and competition technology and to review analytical reservoir problems. In this role Mr. Bailey had the opportunity to review reservoirs in Europe, Latin America, Asia Pacific and the Middle East developing a special expertise in carbonate reservoirs. In 1997 he became technical manager for Halliburton in Mexico focusing on finding engineering solutions to the production challenges of large carbonate reservoirs in Mexico. He joined the Company as its Chief Geological Engineer on March 1, 2002. He was elected as President of the Company on July 17, 2002 and as a Director on February 28, 2003.
Dr. John A. Clendening is 70 years old. He received B.S. (1958), M.S.
(1960) and Ph. D. (1970) degrees in geology from West Virginia University. He was employed as a Palynologist-Coal Geologist at the West Virginia Geological Survey from 1960 until 1968. He joined Amoco in 1968 and remained with Amoco as a senior geological associate until 1972. Dr. Clendening has served as President and other offices of the American Association of Stratigraphic Palynologists and the Society of Organic Petrologists. From 1992 - 1998 he was engaged in association with Laird Exploration Co., Inc. of Houston, Texas, directing exploration and production in south central Kentucky. In 1999 he purchased all the assets of Laird Exploration in south central Kentucky and operates independently. While with Amoco Dr. Clendening was instrumental in Amoco's acquisition in the early 1970's of large land acreage holdings in Northeast Tennessee, based upon his geological studies and recommendations. His work led directly to the discovery of what is now the Company's Paul Reed # 1 well. He further recognized the area to have significant oil and gas potential and is credited with discovery of the field which is now known as the Company's Swan Creek Field. Dr. Clendening previously served as a Director of the
51
Company from September 1998 to August 2000. He was again elected as a Director of the Company on February 28, 2003.
Robert L. Devereux is 42 years old. He graduated in 1982 from St. Louis University with a Bachelor's Degree in Business Administration with a major in finance. He received his law degree from St. Louis University in 1985. For the past eighteen years, Mr. Devereux has been actively engaged in the practice of law, specializing in commercial litigation. Since 1994, he has been a principal in the law firm of Devereux Murphy LLC located in St. Louis, Missouri. For the past eight years Mr. Devereux has also been a principal of and has served as the Chief Executive Officer of Gateway Title Company, Inc. He was elected as a Director of the Company on February 28, 2003.
Bill L. Harbert is 79 years old. He earned a B.S. degree in civil engineering from Auburn University in 1948. In 1949 he was one of the founders of Harbert Construction Company. He managed that company's construction operations, both domestic and foreign, and served as its Executive Vice-President until 1979. From 1979 until July, 1990 he served as President and Chief Operating Officer and from July 1990 through December 1991 he served as Vice Chairman of the Board of Harbert International, Inc. He then purchased a majority of the international operations of Harbert International, Inc. and formed Bill Harbert International Construction, Inc. He served as Chairman and Chief Executive Officer of that corporation until retiring from the company in 2000. Mr. Harbert's companies built pipeline projects in the United States and throughout the world. They also built many other projects including bridges, commercial buildings, waste water treatment plants, airports, including an air base in Negev, Israel and embassies for the United States government in, among other places, Tel Aviv, Hong Kong, and Baku. Mr. Harbert has also served as president (1979) and Director (1980) of the Pipe Line Contractors Association, USA and for seven years as Director, Second Vice-President and First Vice-President (2001-2002) of the International Pipe Line Contractors Association. Mr. Harbert has been active in service to a variety of business associations, charities and the arts in the Birmingham area for many years. He was elected as a Director of the Company on April 2, 2002.
Peter E. Salas is 48 years old. He has been President of Dolphin Asset Management Corp. and its related companies since he founded it in 1988. Prior to establishing Dolphin, he was with J.P. Morgan Investment Management, Inc. for ten years, becoming Co-manager, Small Company Fund and Director-Small Cap Research. He received an A.B. degree in Economics from Harvard in 1976. Mr. Salas was elected to the Board of Directors on October 8, 2002.
Charles M. Stivers is 40 years old. He is a Certified Public Accountant with 18 years accounting experience. In 1984 he received a B.S. degree in accounting from Eastern Kentucky University. From 1983 through July 1986 he served as Treasurer and CEO for Clay Resource Company. From August 1986 through August 1989 he served as a senior tax and audit specialist for Gallaher and Company. From September 1989 to date he has owned and operated Charles M. Stivers, C.P.A., a regional accounting firm. Mr. Stiver's firm specializes in the oil and gas industry and has clients in eight states. The oil and gas work performed by his firm includes
52
all forms of SEC audit work, SEC quarterly financial statement filings, oil and gas consulting work and income tax services. Mr. Stiver's firm has also represented oil and gas companies with respect to Federal and State income tax disputes in 15 states over the past 12 years. In September 2001, he was elected as a director of the Company and is the chairman of the Company's audit committee.
Dr. Richard T. Williams is 52 years old. He has been a member of the faculty of the Department of Geological Sciences at The University of Tennessee in Knoxville, Tennessee, since 1987, after holding faculty positions at West Virginia University and the University of South Carolina since 1979. He has been engaged in reflection seismology and geophysical studies in the Appalachian Overthrust since 1980. He earned his Ph.D. in Geophysics from Virginia Tech in 1979. Dr. Williams was elected to the Board of Directors of the Company effective June 28, 2002. He was appointed Chief Operating Officer of the Company on January 10, 2003, and on February 3, 2003, he was elected Chief Executive Officer of the Company.
OFFICERS
Mark A. Ruth is 44 years old. He is a certified public accountant with 21 years accounting experience. He received a B.S. degree in accounting with honors from the University of Tennessee at Knoxville. He has served as a project controls engineer for Bechtel Jacobs Company, LLC; business manager and finance officer for Lockheed Martin Energy Systems; settlement department head and senior accountant for the Federal Deposit Insurance Corporation; senior financial analyst/internal auditor for Phillips Consumer Electronics Corporation; and, as an auditor for Arthur Andersen and Company. From December 14, 1998 to August 31, 1999 he served as the Company's Chief Financial Officer. On August 31, 1999 he was elected as a Vice-President of the Company and on November 8, 1999 he was again appointed as the Company's Chief Financial Officer.
Robert M. Carter is 66 years old. He attended Tennessee Wesleyan College and Middle Tennessee State College between 1954 and 1957. For 35 years he was an owner of Carter Lumber & Building Supply Company and Carter Warehouse in Loudon County, Tennessee. He has been with the Company since 1995 and during that time has been involved in all phases of the Company's business including pipeline construction, leasing, financing, and the negotiation of acquisitions. Mr. Carter was elected Vice-President of the Company in March, 1996, as Executive Vice-President in April 1997 and on March 13, 1998 he was elected as President of the Company. He served as President of the Company until he resigned from that position on October 19,1999. On August 8, 2000 he again was elected as President of the Company and served in that capacity until July 31, 2001. He has served as President of Tengasco Pipeline Corporation, a wholly owned subsidiary of the Company, from June 1, 1998 to the present.
Cary V. Sorensen is 54 years old. He is a 1976 graduate of the University of Texas School of Law and has undergraduate and graduate degrees form North Texas State University and Catholic University in Washington, D.C. Prior to joining the Company in July, 1999, he had
53
been continuously engaged in the practice of law in Houston, Texas relating to the energy industry since 1977, both in private law firms and a corporate law department, most recently serving for seven years as senior counsel with the litigation department of Enron Corp. before entering private practice in June, 1996. He has represented virtually all of the major oil companies headquartered in Houston and all of the operating subsidiaries of Enron Corp., as well as local distribution companies and electric utilities in a variety of litigated and administrative cases before state and federal courts and agencies in five states. These matters involved gas contracts, gas marketing, exploration and production disputes involving royalties or operating interests, land titles, oil pipelines and gas pipeline tariff matters at the state and federal levels, and general operation and regulation of interstate and intrastate gas pipelines. He has served as General Counsel of the Company since July 9, 1999.
Sheila F. Sloan is 47 years old. She graduated from South Lake High School located in St. Clair Shores, Michigan in 1972. From 1981 to 1985 she worked as a purchasing agent for Sequoyah Land Company located in Madisonville, Tennessee. From 1990 to 1995 she managed the Form U-3 Weight Loss Centers in Knoxville, Tennessee. She has been with the Company since January 1996. On December 4, 1996 she was elected as the Company's Treasurer.
COMMITTEES
The Company's Board has operating audit, stock option, compensation, field safety and frontier exploration committees. Charles M. Stivers, Stephen W. Akos and John A. Clendening are the members of the Company's Audit Committee. Mr. Stivers is the Chairman of this Committee and has also been designated by the Company as the financial expert of the Audit Committee. Robert L. Devereux, John
A. Clendening and Mr. Akos comprise the stock option committee with Mr. Devereux acting as Chairman; Messrs. Akos, Stivers and Clendening comprise the compensation committee with Mr. Clendening acting as Chairman; Richard T. Williams, Jeffrey R. Bailey and Joseph Earl Armstrong comprise the field safety committee; and Messrs. Williams, Bailey and Clendening comprise the frontier exploration committee.
FAMILY RELATIONSHIPS
There are no family relationships between any of the present directors or executive officers of the Company.
INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS
To the knowledge of management, during the past five years, no present or former director, executive officer, affiliate or person nominated to become a director or an executive officer of the Company:
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(1) Filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for the business or property of such person, or any partnership in which he or she was a general partner at or within two years before the time of such filing, or any corporation or business association of which he or she was an executive officer at or within two years before the time of such filing;
(2) Was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
(3) Was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him or her from or otherwise limiting his or her involvement in any type of business, securities or banking activities;
(4) Was found by a court of competent jurisdiction in a civil action, by the Securities and Exchange Commission or the Commodity Futures Trading Commission to have violated any federal or state securities law, and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended, or vacated.
ITEM 11 EXECUTIVE COMPENSATION
The following table sets forth a summary of all compensation awarded to, earned or paid to, the Company's Chief Executive Officer during fiscal years ended December 31, 2002, December 31, 2001 and December 31, 2000. None of the Company's other executive officers earned compensation in excess of $100,000 per annum for services rendered to the Company in any capacity during those periods.
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SUMMARY COMPENSATION TABLE

                                                                     -----------LONG TERM AWARDS-----
                                  ANNUAL COMPENSATION                           -----------AWARDS----PAYOUTS
------------------------------------------------------------------------------------------------------------------------------------
Name and                      YEAR    SALARY ($)   BONUS ($)   OTHER ANNUAL    RESTRICTED     SECURITIES     PAYOUTS       ALL OTHER
Principal Position                                             COMPENSATION    STOCK          UNDERLYING                   COMPEN-
                                                               ($)             AWARDS($)      OPTIONS                      SATION
                                                                                              /SARS(#)
------------------------------------------------------------------------------------------------------------------------------------
Malcolm E. Ratliff,           2002    $80,000       $-0-       $ -0-            -0-            59,0628         -0-           -0-
Chief Executive Officer(7)    2001    $80,000       $-0-       $1,000           -0-             52,500         -0-           -0-
                              2000    $70,000       $-0-       $  500           -0-             52,500         -0-           -0-
------------------------------------------------------------------------------------------------------------------------------------	

(7) Malcolm E. Ratliff served as the Company's Chief Executive Officer throughout 2002. Richard T. Williams, the Company's current Chief Executive Officer replaced Mr. Ratliff on February 3, 2003.
(8) Number of shares underlying options has been retroactively adjusted for a 5% stock dividend declared by the Company as of September 4, 2001.
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OPTION GRANTS FOR FISCAL 2002
During fiscal year ended December 31, 2002 the Company granted an option to the Chief Executive Officer to purchase 6,562 shares of the Company's common stock at a price of $2.86 per share. The option was for a period of three years commencing on August 5, 2002. None of the Company's other executive officers earned compensation in excess of $100,000 per annum for services rendered to the Company in any capacity during the fiscal year ended December 31, 2002.
AGGREGATE OPTION EXERCISES FOR FISCAL 2002
AND YEAR END OPTION VALUES

                                                            --------------------------------------------------------
                                                            NUMBER OF SECURITIES(9)     VALUE(10) of Unexercised
                                                            Underlying Unexercised      In-the-Money
                                                            Options/SARs at             Options/SARs at
                                                            December 31, 2002           December 31, 2002
--------------------------------------------------------------------------------------------------------------------
         NAME              SHARES ACQUIRED   VALUE ($)      EXERCISABLE/                       EXERCISABLE/
                             ON EXERCISE     REALIZED(11)   UNEXERCISABLE                      UNEXERCISABLE
--------------------------------------------------------------------------------------------------------------------
MALCOLM E. RATLIFF               -0-              -0-               59,062/-0-                 $-0-/-0-
--------------------------------------------------------------------------------------------------------------------	

No options were exercised during fiscal year ended December 31, 2002 by the Chief Executive Officer. None of the Company's other executive officers earned compensation in excess of $100,000 per annum for services rendered to the Company in any capacity.
The Company adopted an employee health insurance plan in August 2001. The Company does not presently have a pension or similar plan for its directors, executive officers or employees. Management is considering adopting a 401(k) plan and full liability insurance for directors and executive officers. However, there are no immediate plans to do so at this time.
COMPENSATION OF DIRECTORS
The Board of Directors has resolved to compensate members of the Board of Directors for attendance at meetings at the rate of $250 per day, together with direct out-of-pocket expenses incurred in attendance at the meetings, including travel. The Directors, however, have waived such fees due to them as of this date for prior meetings.

(9) Number of shares underlying the unexercised options has been retroactively adjusted for a 5% stock dividend declared by the Company as of September 4, 2001.
(10) Unexercised options are in-the-money if the fair market value of the underlying securities exceeds the exercise price of the option. The fair market value of the Common Stock was $1.10 per share on December 31, 2002, as reported by The American Stock Exchange. The exercise price of the unexercised options granted to Malcolm E. Ratliff, the Chief Executive Officer of the Company, were $8.69 and $2.86 per share. As a result, the unexercised options have a negative value.
(11) Value realized in dollars is based upon the difference between the fair market value of the underlying securities on the date of exercise, and the exercise price of the option.
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Members of the Board of Directors may also be requested to perform consulting or other professional services for the Company from time to time. The Board of Directors has reserved to itself the right to review all directors' claims for compensation on an ad hoc basis.
Directors who are on the Company's Audit, Compensation and Stock Option Committees are independent and therefore, do not receive any consulting, advisory or compensatory fees from the Company. However, such Board members may receive fees from the Company for their services on those committees. The Company intends to implement a plan for the payment of those committee members for their services on an annual basis.
EMPLOYMENT CONTRACTS
The Company has entered into an employment contract with its Chief Executive Officer, Richard T. Williams for a period of two years through December 31, 2004 at an annual salary of $80,000. There are presently no other employment contracts relating to any member of management. However, depending upon the Company's operations and requirements, the Company may offer long term contracts to directors, executive officers or key employees in the future.
COMPENSATION COMMITTEE INTERLOCKING
AND INSIDER PARTICIPATION
There are no interlocking relationship between any member of the Company's Compensation Committee and any member of the compensation committee of any other company, nor has any such interlocking relationship existed in the past. No member of the Compensation Committee is or was formerly an officer or an employee of the Company.
ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
The following tables set forth the share holdings of the Company's directors and executive officers and those persons who own more than 5% of the Company's common stock as
58
of March 3, 2003 with these computations being based upon 11,927,004 shares of common stock being outstanding as of that date and as to each shareholder, as it may pertain, assumes the exercise of options or warrants or the conversion of convertible debt or preferred stock granted or held by such shareholder as of March 3, 2003.
FIVE PERCENT STOCKHOLDERS(12)

                                                     NUMBER OF SHARES                PERCENT OF
NAME AND ADDRESS                    TITLE            BENEFICIALLY OWNED                CLASS
----------------                    -----            ------------------                -----
Malcolm E. Ratliff                Stockholder           2,736,549(13)                  22.8%
1200 Scott Lane
Knoxville, TN 37922

Dolphin Offshore                  Stockholder           2,036,613(14)                  16.7%
Partners, L.P.
129 East 17th Street
New York, NY 10003

Bill L. Harbert                   Stockholder/          1,489,496(15)                  12.4%
820 Shaders Creek Pkwy.           Director
Birmingham, AL 35209	

DIRECTORS AND OFFICERS(16)

                                                     NUMBER OF SHARES                PERCENT OF
NAME AND ADDRESS                    TITLE            BENEFICIALLY OWNED                CLASS
----------------                    -----            ------------------                -----
Stephen W. Akos                   Director               23,439(17)                 Less than 1%
8000 Maryland Avenue
St. Louis, MO 63105

Joseph Earl Armstrong             Director               57,450(18)                 Less than 1%
4708 Hilldale Drive
Knoxville, TN 37914	

(12) Unless otherwise stated, all shares of Common Stock are directly held with sole voting and dispositive power. The shares set forth in the table reflect the 5% stock dividend declared by the Company for shareholders of record as of September 4, 2001.
(13) Malcolm E. Ratliff, formerly the Company's Chief Executive Officer and Chairman of the Board of Directors and a former Director of the Company, is the sole shareholder and President of Industrial Resources Corporation (" IRC"). Malcolm E. Ratliff's wife, Linda Ratliff, is the Secretary of IRC. Accordingly, IRC may be deemed to be an affiliate of the Company. James Ratliff, who is the father of Malcolm E. Ratliff, is the sole shareholder and President of Ratliff Farms, Inc. Malcolm E. Ratliff is the Vice-President/Secretary of Ratliff Farms. Malcolm E. Ratliff has voting control of the shares of the Company owned by Ratliff Farms, Inc. Accordingly, Ratliff Farms, Inc. may also be deemed to be an affiliate of the Company. The shares listed here include 80,171 shares owned directly and an option to purchase 59,062 shares held by Malcolm E. Ratliff, 1,849,744 shares owned by IRC, 716,072 shares owned directly by Ratliff Farms, Inc. and 31,500 shares owned directly by a trust of which Linda Ratliff is trustee and the children of Malcolm E. Ratliff are the beneficiaries. The shares listed here do not include shares of the Company owned directly by James Ratliff or any entity of which he is the controlling person. The shares listed also do not include 373,900 shares directly owned by Dolphin Offshore Partners, L.P. ("Dolphin") which Dolphin granted IRC an option to purchase commencing April 11, 2003 and expiring on May 21, 2003 at a price of $2.386 per share. The general partner and controlling person of Dolphin is Peter Salas, a Director of the Company. In the event IRC does not exercise the option, Dolphin has the right to require IRC to purchase from it the same number of shares that are the subject of the option (373,900) at a price of $2.495 per share.
(14) Consists of 1,739,720 shares held by Dolphin Offshore Partners, L.P. ("Dolphin") of which Peter E. Salas, a Director of the Company, is the general partner and controlling person; a warrant held by Dolphin to purchase 10,500 shares at $7.98 per share; 173,611 shares underlying a promissory convertible note held by Dolphin; and, 112,782 shares underlying 9,000 shares of the Company's Series B 8% Cumulative Convertible Preferred Stock held directly which is convertible into the Company's Common Stock at the rate of $7.98 per share.The shares listed include 373,900 shares held directly by Dolphin as to which Dolphin granted an option to Industrial Resources Corporation ("IRC") to purchase commencing on April 11, 2003 and expiring on May 21, 2003 at a price of $2.386 per share. Malcolm E. Ratliff, a Director of the Company and formerly the Company's Chief Executive Officer and Chairman of the Board, is the sole shareholder and President of IRC. If the option is not exercised, Dolphin has the right to require IRC to purchase from it the same number of shares that are the subject of the option (373,900) at a price of $2.495 per share.
(15) Consists of 1,404,942 shares held directly, 71,429 shares underlying 5,000 shares of the Company's Series A 8% Cumulative Convertible Preferred Stock held directly which is convertible into the Company's Common Stock and an option to purchase 13,125 shares.
(16) Unless otherwise stated, all shares of Common Stock are directly held with sole voting and dispositive power. The shares set forth in the table reflect the 5% stock dividend declared by the Company for shareholders of record as of September 4, 2001.
(17) Consists of 14,081 shares held directly (certain of which are jointly owned with spouse) and 9,358 shares underlying convertible promissory notes owned with his spouse and by a limited partnership. Shares underlying note held by limited partnership has been adjusted to reflect his ownership interest in the limited partnership.
(18) Consists of 4,950 shares held directly and options to purchase 52,500 shares.
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Jeffrey R. Bailey                 Director;              18,125(19)                 Less than 1%
2306 West Gallaher Ferry          President
Knoxville, TN 37932

John A. Clendening                Director                  -0-                         -0-
1031 Saint Johns Drive
Maryville, TN 37801

Robert L. Devereux                Director               56,882(20)                 Less than 1%
10 South Brentwood Blvd.
St. Louis, MO 63105

Bill L. Harbert                   Director             1,489,496(21)                    12.4%
820 Shaders Creek Pkwy.
Birmingham, AL 35209

Peter E. Salas                    Director              2,036,613(22)                   16.7%
129 East 17th Street
New York, NY 10003

Charles M. Stivers                Director                13,125(23)                Less than 1%
420 Richmond Road
Manchester, KY 40962

Richard T. Williams               Director;               13,125(24)                Less than 1%
4477 Deer Run Drive               Chief Executive
Louisville, TN                    Officer

Robert M. Carter                  President               68,071(25)                Less than 1%
760 Prince Georges Parish         Tengasco Pipeline
Knoxville, TN 37922               Corporation	

(19) Consists of 5,000 shares held directly and an option to purchase 13,125 shares.
(20) Consists of 34,562 shares held directly with his spouse; 12,448 shares underlying a convertible note held with his spouse; 6,753 shares owned by a limited liability company; and, 3119 shares underlying a convertible promissory note held by a limited liability company. Shares owned by the limited liability company and underlying note held by the limited liability company have been adjusted to reflect his ownership interest in the limited liability company.
(21) Consists of 1,404,942 shares held directly, 71,429 shares underlying 5,000 shares of the Company's Series A 8% Cumulative Convertible Preferred Stock held directly which is convertible into the Company's Common Stock at the rate of $7.00 per share and an option to purchase 13,125 shares.
(22) Consists of 1,739,720 shares held by Dolphin Offshore Partners, L.P. ("Dolphin") of which Peter E. Salas is the general partner and controlling person; a warrant held by Dolphin to purchase 10, 500 shares at $7.98 per share; 173,611 shares underlying a promissory convertible note held by Dolphin; and, 112,782 shares underlying 9,000 shares of the Company's Series B 8% Cumulative Convertible Preferred Stock held directly which is convertible into the Company's Common Stock at the rate of $7.98 per share. The shares listed include 373,900 shares held directly by Dolphin as to which Dolphin granted an option to Industrial Resources Corporation ("IRC") to purchase commencing on April 11, 2003 and expiring on May 21, 2003 at a price of $2.386 per share. Malcolm E. Ratliff, a Director of the Company and formerly the Company's Chief Executive Officer and Chairman of the Board, is the sole shareholder and President of IRC. If the option is not exercised, Dolphin has the right to require IRC to purchase from it the same number of shares that are the subject of the option (373,900) at a price of $2.495 per share.
(23) Consists of shares underlying an option.
(24) Consists of shares underlying an option.
(25) Consists of 7,696 shares held directly and options to purchase 60,375 shares.
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Mark A. Ruth                      Chief Financial         45,937(26)                Less than 1%
9400 Hickory Knoll Lane           Officer
Knoxville, TN 37931

Cary V. Sorensen                  General Counsel;        39,375(27)                Less than 1%
509 Bretton Woods Dr.             Secretary
Knoxville, TN 37919

Sheila F. Sloan                   Treasurer               21,787(28)                Less than 1%
121 Oostanali Way
Loudon, TN 37774

All Officers and                                       3,883,425(29)                   30.8%
Directors as a group	

CHANGES IN CONTROL
Except as indicated below, to the knowledge of the Company's management, there are no present arrangements or pledges of the Company's securities which may result in a change in control of the Company.
ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
TRANSACTIONS WITH MANAGEMENT AND OTHERS
Except as set forth hereafter, there have been no material transactions, series of similar transactions or currently proposed transactions during 2002, to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds $60,000 and in which any director or executive officer or any security holder who is known to the Company to own of record or beneficially more than 5% of the Company's common stock, or any member of the immediate family of any of the foregoing persons, had a material interest.

(26) Consists of shares underlying options.
(27) Consists of shares underlying options.
(28) Consists of 2,100 shares held directly and options to purchase 19,687 shares.
(29) Consists of shares held directly and indirectly by management, shares held by Dolphin, 270,374, shares underlying options, 10,500 shares underlying warrants, 198,536 shares underlying convertible promissory notes and 182,411 shares underlying convertible preferred stock.
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On January 21, 2002 and April 9, 2002, Bill Harbert, who owns more than ten percent of the Company's outstanding Common Stock and is now a Director of the Company, but was not at that time, in two private placements purchased 100,000 shares of the Company's common stock on each of those dates, at prices of $6.32 and $4.80 per share, respectively. The proceeds from these private placements were used as working capital to fund the Company's day to day operations.
On October 7, 2002, Dolphin Offshore Partners, L.P. ("Dolphin) which owns more than ten percent of the Company's outstanding Common Stock and whose general partner, Peter E. Salas, is a Director of the Company, in consideration of a loan to the Company was issued an unsecured convertible promissory note by the Company in the principal amount of $500,000 bearing 8% interest, with payments of interest only payable quarterly and the principal payable January 4, 2004. The principal amount of the note is convertible into Common Stock of the Company at the rate of $2.88 per share. The proceeds from this note were used to provide working capital for the Company's operations.
In August 2002, Dolphin purchased 650,000 shares of the Company's Common Stock in an open market transaction. In connection with that purchase, Dolphin entered into an agreement on which was later amended on October 11, 2002 with Industrial Resources Corporation ("IRC"), which owns more than ten percent of the Company's outstanding Common Stock and whose sole shareholder and President, Malcolm E. Ratliff, was at the time of this transaction the Company's Chief Executive Officer and a Director of the Company. Pursuant to that agreement, Dolphin granted IRC an option commencing on April 11, 2003 and expiring on May 12, 2003 to purchase up to 373,900 shares of the Company's Common Stock that had been purchased by Dolphin at a price of $2.386 per share, and if the option is not exercised during the option period IRC is then required to purchase from Dolphin the same number shares that had been the subject of the option at price of $2.495 per share. The Company is not a party to the agreement between IRC and Dolphin concerning shares of the Company owned by Dolphin, and there is no effect upon the Company based in any way upon the performance or nonperformance of that agreement.
On December 4, 2002 , Dolphin loaned the Company the sum of $250,000 which funds were used to pay the principal and interest due that month from the Company to Bank One and to provide working capital for the Company. The Company issued a promissory note to Dolphin bearing interest at the rate of 12% per annum, with payments of interest only payable quarterly and the principal balance payable on January 4, 2004.
On January 8, 2003, Bill Harbert purchased 227,275 shares of the Company's Common Stock from the Company in a private placement at a price of $1.10 per share. The proceeds from this sale were used by the Company to pay the principal and interest due to Bank One for January, 2003 and to provide working capital for the Company's operations.
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On February 3, 2003 and February 28, 2003, Dolphin loaned the Company the sum of $250,000 on each such date which the Company used to pay the principal and interest due to Bank One for February and March 2003 and for working capital. Each of these loans is evidenced by a separate promissory note each bearing interest at the rate of 12% per annum, with payments of interest only payable quarterly and the principal balance payable on January 4, 2004.
Each of the three loans made by Dolphin set forth above are secured by an undivided 10% interest in the Company's Tennessee and Kansas pipelines.
INDEBTEDNESS OF MANAGEMENT
No officer, director or security holder known to the Company to own of record or beneficially more than 5% of the Company's common stock or any member of the immediate family of any of the foregoing persons is indebted to the Company.
PARENT OF THE ISSUER
Unless IRC may be deemed to be a parent of the Company, the Company has no parent.
ITEM 14 CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
Within the past 90 days, the Company's management, including its Chief Executive Officer and Chief Financial Officer, has conducted an evaluation of the effectiveness of the design and operation of the Company's disclosure controls and procedures pursuant to Rule 13a-14 and 15d-14 under the Securities Exchange Act of 1934, as amended. Based on that evaluation, the Company's Chief Executive Officer and Chief Financial Officer believe:
The Company's disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports it files or submits under the Securities Exchange Act of 1934, as amended, including this Report, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms; and
The Company's disclosure controls and procedures were effective to ensure that material information was accumulated and communicated to management, including the
63
Company's Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
CHANGES IN INTERNAL CONTROLS
There have been no significant changes in internal controls, or in factors that could significantly affect internal controls, subsequent to the date the Company's Chief executive Officer and Chief Financial Officer completed their evaluation, nor were there any significant deficiencies or material weaknesses in the Company's internal controls. As a result, no corrective actions were required or taken.
PART IV
ITEM 15 EXHIBITS AND REPORTS
1. Financial Statements:
Consolidated Balance Sheets
Consolidated Statements of Loss
Consolidated Statements of Stockholders' Equity Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements
2. Exhibits.
(a) - The following documents heretofore filed by the Company with the commission are hereby incorporated by reference herein from:
(i) Registration Statement on Form 10-SB filed with the Commission August 7, 1997 (Registration No. 0-29386)
Exhibit Number and Description
3.1 Initial Articles of Incorporation
3.2 Bylaws
3.3 Articles of Amendment dated April 12, 1966
3.4 Articles of Amendment dated July 12, 1984
3.5 Articles of Amendment dated December 18, 1991
3.6 Articles of Amendment dated September 11, 1992
3.7 Articles of Incorporation of the Tennessee of wholly-owned subsidiary
64
3.8 Articles of Merger and Plan of Merger (taking into account the formation of the Tennessee wholly-owned subsidiary for the purpose of changing the Company's domicile and effecting reverse split)
5.1 Opinion of Robson & Miller, LLP
10.1(a) Purchase Agreement with IRC
10.1(b) Amendment to Purchase Agreement with IRC
10.1(c) General Bill of Sale and Promissory Note
10.2(a) Compensation Agreement - M. E. Ratliff
10.2(b) Compensation Agreement - Jeffrey D. Jenson
10.2(c) Compensation Agreement - Leonard W. Burningham
10.3 Agreement with The Natural Gas Utility District of Hawkins County, Tennessee
10.4 Agreement with Powell Valley Electric Cooperative, Inc.
10.5 Agreement with Enserch Energy Services, Inc.
16.1 Letter of David T. Thomson, CPA, Regarding Change in Certifying Accountant
16.2 Letter of Charles M. Stivers, CPA, Regarding Change in Certifying Accountant
16.3 Letter of Price-Bednar, LLP, CPA, Regarding Change in Certifying Accountant
23.1 Consent of Charles M. Stivers, CPA
23.2 Consent of David T. Thomson, CPA
23.3 Consent of BDO Seidman, LLP
23.4 Consent of Robson & Miller, LLP
99.1 Beech Creek Lease Schedule
99.2 Wildcat Lease Schedule
99.3 Burning Springs Lease Schedule
99.4 Fentress County Lease Schedule
99.5 Swan Creek Lease Schedule
99.6 Alabama Lease Schedule
99.7 Coburn Engineering Report dated June 18, 1997.
(ii) Amendment No. 1 to the Registration Statement on Form 10-SB filed with the Commission December 11, 1997 (Registration No. 0-29386)
Exhibit Number and Description
5.1 Opinion of Robson & Miller, LLP
23.1 Consent of Charles M. Stivers, CPA
23.3 Consent of BDO Seidman, LLP
23.4 Consent of Robson & Miller, LLP
23.5 Consent of Coburn Petroleum Engineering Co.
65
(iii) Current Report on Form 8-K, Date of Report, February 27, 1998:
Exhibit Number and Description
2.1 Plan of Acquisition. Agreement dated December 18, 1997 between AFG Energy, Inc. and Tengasco, Inc. regarding sale of assets of AFG Energy, Inc.
(iii) Current Report on Form 8-KA, Date of Report, February 27, 1998:
Exhibit Number and Description

          Financial  Statements  of Business  Acquired  (AFG Energy,  Inc.)
          Independent  auditor's  report,  statement of revenues and direct
          operating  expenses  and  notes to  financial  statements  of the
          properties  acquired by Tengasco,  Inc. from AFG Energy, Inc. Pro
          Forma Financial Information Pro forma combined statements of loss
          for year ended  December  31, 1997 for  Tengasco,  Inc.  from AFG
          Energy, Inc.

2.1(a)    Exhibit A to  Agreement  dated  December  18,  1997  between  AFG
          Energy,  Inc. and Tengasco,  Inc. regarding sale of assets of AFG
          Energy, Inc.

2.1(a)    Exhibit A to  Agreement  dated  December  18,  1997  between  AFG
          Energy,  Inc. and Tengasco,  Inc. regarding sale of assets of AFG
          Energy, Inc.	

(iv) Annual Report on Form 10-KSB, Date of Report, April 10, 1998
Exhibit Number and Description
10.6 Teaming Agreement between Operations Management International, Inc. and Tengasco, Inc. dated March 12, 1997
10.7 Agreement for Transition Services between Operations Management International, Inc. and Tengasco, Inc. regarding thEast Tennessee Technology Park
99.8 Coburn Engineering Report dated February 18, 1997 (Paper copy filed on Form SE pursuant to continuing hardship granted by Office of EDGAR Policy)
99.9 Columbia Engineering Report dated March 2, 1997 (Paper copy filed on Form SE pursuant to continuing hardship granted by Office of EDGAR Policy)
66
(v) Annual Report on Form 10-KSB, Date of Report, April 14, 1999
Exhibit Number and Description

3.9       Amendment to the Corporate Charter dated June 24, 1998

3.10      Amendment to the Corporate Charter dated October 30, 1998

99.10     Coburn  Engineering  Report  dated  February  9, 1999 (Paper copy
          filed on Form SE  pursuant  to  continuing  hardship  granted  by
          Office of EDGAR Policy)

99.11     Columbia  Engineering  Report dated February 20, 1999 (Paper copy
          filed on Form SE  pursuant  to  continuing  hardship  granted  by
          Office of EDGAR Policy)	

(vi) Current Report on Form 8-K, Date of Report, October 18, 1999:
Exhibit Number and Description
10.9 Amendment Agreement dated October 19, 1999 between Tengasco, Inc. and The Natural Gas Utility District of Hawkins County, Tennessee
(vii) Current Report on Form 8-KA, Date of Report, November 18, 1999:
Exhibit Number and Description
10.10 Natural Gas Sales Agreement dated November 18, 1999 between Tengasco, Inc. and Eastman Chemical Company
(viii) Annual Report on Form 10-KSB, Date of Report, April 12, 2000
Exhibit Number and Description

3.11      Amendment to the Corporate Charter filed March 17 , 2000

10.11     Agreement between A.M.  Partners L.L.C. and Tengasco,  Inc. dated
          October 6, 1999

10.12     Agreement between  Southcoast  Capital L.L.C. and Tengasco,  Inc.
          dated February 25, 2000

10.13     Franchise  Agreement  between Powell Valley Utility  District and
          Tengasco, Inc. dated January 25, 2000

10.14     Amendment   Agreement   between  Eastman   Chemical  Company  and
          Tengasco, Inc. dated March 27, 2000

99.12     Coburn  Engineering Report dated March 30, 2000 (Paper copy filed
          on Form SE pursuant to continuing  hardship  granted by Office of
          EDGAR Policy)	

67

99.13     Columbia  Engineering  Report dated  January 31, 2000 (Paper copy
          filed on Form SE  pursuant  to  continuing  hardship  granted  by
          Office of EDGAR Policy)	

(ix) Current Report on Form 8-K, Date of Report, August 16, 2000:
Exhibit Number and Description
10.15 Loan Agreement between Tengasco Pipeline Corporation and Morita Properties, Inc. dated August 16, 2000.
10.15(a) Promissory note made by Tengasco Pipeline Corporation to Morita Properties, Inc. dated August 16, 2000.
10.15(b) Throughput Agreement between Tengasco Pipeline Corporation and Morita Properties, Inc. dated August 16, 2000.
10.16 Loan Agreement between Tengasco Pipeline Corporation and Edward W.T. Gray III dated August 16, 2000.
10.16(a) Promissory note made by Tengasco Pipeline Corporation to Edward W.T. Gray III dated August 16, 2000.
10.16(b) Throughput Agreement between Tengasco Pipeline Corporation and Edward W.T. Gray III dated August 16, 2000.
10.17 Loan Agreement between Tengasco Pipeline Corporation and Malcolm E. Ratliff dated August 16, 2000.
10.17(a) Promissory note made by Tengasco Pipeline Corporation to Malcolm E. Ratliff dated August 16, 2000.
10.17(b) Throughput Agreement between Tengasco Pipeline Corporation and Malcolm E. Ratliff dated August 16, 2000.
10.18 Loan Agreement between Tengasco Pipeline Corporation and Charles F. Smithers, Jr. dated August 16, 2000.
10.18(a) Promissory note made by Tengasco Pipeline Corporation to Charles F. Smithers, Jr.
10.18(b) Throughput Agreement between Tengasco Pipeline Corporation and Charles F. Smithers dated August 16, 2000.
68
10.19 Loan Agreement between Tengasco Pipeline Corporation and Nick Nishiwaki dated August 16, 2000.
10.19(a) Promissory note made by Tengasco Pipeline Corporation to Nick Nishiwaki dated August 16, 2000.
10.19(b) Throughput Agreement between Tengasco Pipeline Corporation and Nick Nishiwaki dated August 16, 2000.
(x) S-8 Registration Statement for shares to be purchased pursuant to options granted pursuant to the Tengasco, Inc. Stock Incentive Plan dated October 25, 2000:
Exhibit Number and Description
4.1 Tengasco, Inc. Incentive Stock Plan
5.1 Opinion of Robson Ferber Frost Chan & Essner, LLP
23.1 Consent of BDO Seidman, LLP
23.2 Consent of Robson Ferber Frost Chan & Essner, LLP contained in Exhibit No. 5.1
(xi) Annual Report on Form 10-KSB, Date of Report, April 10, 2001
Exhibit Number and Description

10.19     Memorandum Agreement between Tengasco, Inc. and The University of
          Tennessee dated February 13, 2001

10.20     Natural  Gas  Sales  Agreement  between  Tengasco,  Inc.  and BAE
          SYSTEMS Ordnance Systems Inc. dated March 30, 2001

99.14     Ryder Scott Report	

99.14(a) Consent of Ryder Scott Company
(xii) Quarterly Report on Form 10-Q, Date of Report, April 10, 2001
69
Exhibit Number and Description
10.21 Reducing Revolving Line of Credit Up to $35,000,000 from Bank One, N.A. to Tengasco, Inc., Tennessee Land & Mineral Corporation and Tengasco Pipeline Corporation dated November 8, 2001
(xiii) Annual Report on Form 10-K, Date of Report, April 10, 2002
Exhibit Number and Description
99.15 Ryder Scott Report dated March 28, 2002
99.15(a) Consent of Ryder Scott Company
The following exhibits are filed herewith:
21 List of Subsidiaries
99.16 Certifications of Annual Report on Form 10-K for year ended December 31, 2002 by Richard T. Williams Chief Executive Officer and Mark A. Ruth Chief Financial Officer
99.17 Ryder Scott Report dated February 10, 2003
99.17(a) Consent of Ryder Scott Company
99.18 Consent of BDO Seidman, LLP
70
 
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: March 31, 2003
TENGASCO, INC.
 (Registrant)

By: /s/ RICHARD T. WILLIAMS
   ------------------------
Richard T. Williams,
Chief Executive Officer

By: /s/ MARK A. RUTH
   ---------------
Mark A. Ruth,
Principal Financial and Accounting Officer	

Pursuant to the requirements of the Securities and Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in their capacities and on the dates indicated.

SIGNATURE                      TITLE                                   DATE

/s/ STEPHEN W. AKOS            Director                           March 31, 2003
-------------------
Stephen W. Akos

/s/ JOSEPH EARL ARMSTRONG      Director; Chairman of              March 31, 2003
-------------------------
Joseph Earl Armstrong          the Board of Directors

/s/ /JEFFREY R. BAILEY         Director;                          March 31, 2003
----------------------
Jeffrey R. Bailey              President

/s/ JOHN A. CLENDENING         Director                           March 31, 2003
----------------------
John A. Clendening

/s/ ROBERT L. DEVEREUX         Director                           March 28, 2003
----------------------
Robert L. Devereux	

71

/s/ BILL L. HARBERT            Director                           March 28, 2003
-------------------
Bill L. Harbert

/s/ PETER E. SALAS             Director                           March 28, 2003
-------------------
Peter E. Salas

/s/ CHARLES M. STIVERS         Director                           March 31, 2003
----------------------
Charles M. Stivers

/s/ RICHARD T. WILLIAMS        Director;                          March 31, 2003
-----------------------        Chief Executive Officer
Richard T. Williams

/s/ MARK A. RUTH               Principal Financial                March 31, 2003
----------------------         and Accounting Officer
Mark A. Ruth	

72
I, Richard T. Williams, certify that:
1. I have reviewed this annual report on Form 10-K of Tengasco, Inc.
2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
3. Based on my knowledge, the financial statements, and other information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this annual report;
4. The Registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the Registrant and we have:
(a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;
(b) evaluated the effectiveness of the Registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date'); and
(c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The Registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent function);
(a) all significant deficiencies in the design or operation of internal controls which could adversely affect the Registrant's ability to record, process, summarize and report financial data and have identified for the Registrant's auditors any material weakness in internal controls; and
(b) any fraud, whether or not material that involves the management or other employees who have a significant role in the Registrant's internal controls; and
6. The Registrant's other certifying officers and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Dated: March 31, 2003

                                                     /s/ RICHARD T. WILLIAMS
                                                     --------------------------
                                                     Richard T. Williams,
                                                     Chief Executive Officer	

73
I, Mark A. Ruth, certify that:
1. I have reviewed this annual report on Form 10-K of Tengasco, Inc.
2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
3. Based on my knowledge, the financial statements, and other information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this annual report;
4. The Registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the Registrant and we have:
(a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;
(b) evaluated the effectiveness of the Registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date'); and
(c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The Registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent function);
(a) all significant deficiencies in the design or operation of internal controls which could adversely affect the Registrant's ability to record, process, summarize and report financial data and have identified for the Registrant's auditors any material weakness in internal controls; and
(b) any fraud, whether or not material that involves the management or other employees who have a significant role in the Registrant's internal controls; and
6. The Registrant's other certifying officers and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Dated: March 31, 2003

                                   /s/ MARK A. RUTH
                                   ---------------------------------------------
                                   Mark A. Ruth,
                                   Principal Financial and Accounting Officer	

74
TENGASCO, INC.
AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
TENGASCO, INC.
AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
F-1
 
TENGASCO, INC. AND SUBSIDIARIES
CONTENTS

INDEPENDENT AUDITORS' REPORT                                       F-3

CONSOLIDATED FINANCIAL STATEMENTS

    Consolidated Balance sheets                                  F-4-5

    Consolidated Statements of loss                                F-6

    Consolidated Statements of stockholders' equity                F-7

    Consolidated Statements of cash flows                        F-8-9

    Notes to consolidated financial statements                 F-10-37	

F-2
 
INDEPENDENT AUDITORS' REPORT
Board of Directors
Tengasco, Inc. and Subsidiaries
Knoxville, Tennessee
We have audited the accompanying consolidated balance sheets of Tengasco, Inc. and Subsidiaries as of December 31, 2002 and 2001, and the related consolidated statements of loss, stockholders' equity and cash flows for each of the three years in the period ended December 31, 2002. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Tengasco, Inc. and Subsidiaries as of December 31, 2002 and 2001, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2002 in conformity with accounting principles generally accepted in the United States of America.
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has suffered recurring losses from operations and has an accumulated deficit of $27,776,726. Additionally, during 2002, the Company's primary lender has classified the remaining amount of $7,501,777 as immediately due and payable, resulting in a significant working capital deficiency. Such matters raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

                                                             /s/ BDO Seidman LLP

Atlanta, Georgia
February 27, 2003	

F-3
 
TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

DECEMBER 31,                                                                  2002                2001
-------------------------------------------------------------------------------------------------------
ASSETS (Note 1)

CURRENT
   Cash and cash equivalents                                           $   184,130         $   393,451
   Investments                                                              34,500             150,000
   Accounts receivable                                                     730,667             661,475
   Participant receivables                                                  70,605              84,097
   Inventory                                                               262,748             159,364
   Current portion of loan fees, net of accumulated
     amortization of $194,312 (Note 7)                                     323,856                   -
-------------------------------------------------------------------------------------------------------

TOTAL CURRENT ASSETS                                                     1,606,506           1,448,387

OIL AND GAS PROPERTIES, net (on the basis
   of full cost accounting) (Notes 4, 7 and 15)                         13,864,321          13,269,930

COMPLETED PIPELINE FACILITIES, net of accumulated
   depreciation of $729,043 and $220,374, respectively
   (Notes 5 and 7)                                                      15,372,843          15,039,762

OTHER PROPERTY AND EQUIPMENT, net (Notes 6 and 7)                        1,685,950           1,680,104

RESTRICTED CASH                                                                  -             120,872

LOAN FEES, net of accumulated amortization of
   $13,384 and $21,590, respectively                                        40,158             496,577

OTHER ASSETS                                                                14,613              72,613
-------------------------------------------------------------------------------------------------------

                                                                       $32,584,391         $32,128,245
======================================================================================================
                    SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.	

F-4
 
TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

DECEMBER 31,                                                                                  2002                2001
----------------------------------------------------------------------------------------------------------------------
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Current maturities of long-term debt (Notes 1 and 7)                              $   7,861,245      $    6,399,831
   Accounts payable - trade                                                              1,396,761           1,208,164
   Accrued interest payable                                                                 61,141              54,138
   Accrued dividends payable (Note 9)                                                      254,389             112,458
   Other accrued liabilities                                                                31,805                   -
-----------------------------------------------------------------------------------------------------------------------
TOTAL CURRENT LIABILITIES                                                                9,605,341           7,774,591

LONG TERM DEBT TO RELATED PARTIES (Note 7)                                                 750,000                   -

LONG TERM DEBT, less current maturities (Note 7)                                         1,256,209           3,902,757
-----------------------------------------------------------------------------------------------------------------------

TOTAL LIABILITIES                                                                       11,611,550          11,677,348
-----------------------------------------------------------------------------------------------------------------------

COMMITMENTS AND CONTINGENCIES (Notes 1 and 8)

PREFERRED STOCK, $.0001 par value; authorized 25,000,000
   shares (Note 9):
   Series A 8% cumulative, convertible, mandatorily redeemable;
     28,679 and shares outstanding; redemption value $2,867,900                          2,867,900           2,867,900
   Series B 8% cumulative, convertible, mandatorily redeemable;
     27,550 shares outstanding; redemption value $2,755,000,
     net of related commissions                                                          2,591,150           2,591,150
   Series C 6% cumulative, convertible, mandatorily redeemable;
     14,491 shares outstanding, redemption value $1,449,100
     net of related commissions                                                          1,303,168                   -
-----------------------------------------------------------------------------------------------------------------------

TOTAL PREFERRED STOCK                                                                    6,762,218           5,459,050
-----------------------------------------------------------------------------------------------------------------------

STOCKHOLDERS' EQUITY (Notes 10 and 11)
   Common stock, $.001 par value; authorized 50,000,000 shares;
     11,459,279 and 10,560,605 shares issued, respectively                                  11,460              10,561
   Additional paid-in capital                                                           42,237,276          39,242,555
   Accumulated deficit                                                                 (27,776,726)        (24,115,382)
   Accumulated other comprehensive loss                                                   (115,500)                  -
   Treasury Stock, at cost, 14,500 shares                                                 (145,887)           (145,887)
-----------------------------------------------------------------------------------------------------------------------

TOTAL STOCKHOLDERS' EQUITY                                                              14,210,623          14,991,847
-----------------------------------------------------------------------------------------------------------------------

                                                                                      $ 32,584,391        $ 32,128,245
=======================================================================================================================
                                                          SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.	

F-5
 
TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS

YEARS ENDED DECEMBER 31,                                                        2002              2001              2000
-------------------------------------------------------------------------------------------------------------------------
REVENUES AND OTHER INCOME
   Oil and gas revenues                                                  $ 5,437,723       $ 6,656,758       $ 5,241,076
   Pipeline transportation revenues                                          259,677           296,331                 -
   Interest Income                                                             3,078            43,597            45,905
-------------------------------------------------------------------------------------------------------------------------

Total revenues and other income                                            5,700,478         6,996,686         5,286,981
-------------------------------------------------------------------------------------------------------------------------

COSTS AND EXPENSES
   Production costs and taxes                                              3,094,731         2,951,746         2,614,414
   Depreciation, depletion and amortization
     (Notes 4, 5 and 6)                                                    2,413,597         1,849,963           371,249
   General and administrative                                              1,868,141         2,957,871         2,602,311
   Interest expense                                                          578,039           850,965           415,376
   Public relations                                                          193,229           293,448           106,195
   Professional fees                                                         707,296           355,480           719,320
-------------------------------------------------------------------------------------------------------------------------

Total costs and expenses                                                   8,855,033         9,259,473         6,828,865
-------------------------------------------------------------------------------------------------------------------------

NET LOSS                                                                  (3,154,555)       (2,262,787)       (1,541,884)

Dividends on preferred stock                                                (506,789)         (391,183)         (257,557)
-------------------------------------------------------------------------------------------------------------------------

NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS                             $(3,661,344)      $(2,653,970)      $(1,799,441)
-------------------------------------------------------------------------------------------------------------------------

NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE
   Basic and diluted                                                     $     (0.33)      $     (0.26)      $     (0.19)
-------------------------------------------------------------------------------------------------------------------------

Weighted average shares outstanding                                       11,062,436        10,235,253         9,253,622
========================================================================================================================
                                                            SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.	

F-6

                                                                                COMMON STOCK                    ADDITIONAL
                                                                         -------------------------------           PAID-IN
                                                                                 SHARE           AMOUNT            CAPITAL
--------------------------------------------------------------------------------------------------------------------------
BALANCE, January 1, 2000                                                     8,532,882          $ 8,533        $20,732,759
   Net loss                                                                          -                -                  -
   Common stock issued on conversion of debt                                    73,669               74            449,920
   Common stock issued for exercised options                                    20,715               21            179,992
   Common stock issued on conversion of preferred stock                          8,818                9             49,991
   Stock option awards for professional services                                     -                -            242,000
   Common stock issued in private placements, net of
     related expense                                                           654,098              654          4,245,054
   Stock issued for services                                                     5,376                5             41,993
   Dividends on convertible redeemable preferred stock                               -                -                  -
--------------------------------------------------------------------------------------------------------------------------

BALANCE, December 31, 2000                                                   9,295,558            9,296         25,941,709
   Net loss                                                                          -                -                  -
   Common stock issued with 5% stock dividend (Note 10)                        498,016              498          6,374,111
   Common stock issued on conversion of debt                                    93,069               93            523,157
   Common stock issued for exercised options                                   274,932              275          2,340,725
   Common stock issued on conversion of preferred stock                         12,347               13             70,988
   Common stock issued for services                                             10,000               10             69,990
   Common stock issued in private placements, net of
     related expense                                                           374,733              374          3,899,624
   Common stock issued as a charitable donation                                  1,950                2             22,251
   Treasury stock purchased                                                          -                -                  -
   Dividends on convertible redeemable preferred stock                               -                -                  -
--------------------------------------------------------------------------------------------------------------------------

BALANCE, December 31, 2001                                                  10,560,605           10,561         39,242,555
   Net loss                                                                          -                -                  -
   Comprehensive loss
     Net loss                                                                        -                -                  -
     Other comprehensive loss                                                        -                -                  -
     Comprehensive loss                                                              -                -                  -
   Common stock issued in private placements, net of                                                             2,676,150
     related expenses                                                          850,000              850
   Common stock issued on conversion of debt                                    20,592               20            119,980
   Common stock issued in purchase of equipment                                 19,582               20            149,980
   Common stock issued for services                                              8,500                9             48,611
   Dividends on convertible redeemable preferred stock                               -                -                  -
--------------------------------------------------------------------------------------------------------------------------

BALANCE, December 31, 2002                                                  11,459,279          $11,460        $42,237,276
==========================================================================================================================	

TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY
YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000

ACCUMULATED OTHER                                                       TREASURY STOCK
  COMPREHENSIVE        ACCUMULATED         COMPREHENSIVE       -------------------------------
  INCOME (LOSS)            DEFICIT                  LOSS           SHARES           AMOUNT                  TOTAL
-------------------------------------------------------------------------------------------------------------------
     $       -         $(13,287,362)                                     -        $       -            $ 7,453,930
             -           (1,541,884)                                     -                -             (1,541,884)
             -                    -                                      -                -                449,994
             -                    -                                      -                -                180,013
             -                    -                                      -                -                 50,000
             -                    -                                      -                -                242,000

             -                    -                                      -                -              4,245,708
             -                    -                                      -                -                 41,998
             -             (257,557)                                     -                -               (257,557)
-------------------------------------------------------------------------------------------------------------------

             -          (15,086,803)                                     -                -             10,864,202
                         (2,262,787)                                     -                -             (2,262,787)
             -           (6,374,609)                                     -                -                      -
             -                    -                                      -                -                523,250
             -                    -                                      -                -              2,341,000
             -                    -                                      -                -                 71,001
                                  -                                      -                -                 70,000

             -                    -                                      -                -              3,899,998
             -                    -                                      -                -                 22,253
             -                    -                                 14,500         (145,887)              (145,887)
             -             (391,183)                                     -                -               (391,183)
-------------------------------------------------------------------------------------------------------------------

                        (24,115,382)                                14,500         (145,887)            14,991,847
                         (3,154,555)                                     -                -             (3,154,555)

             -                    -            (3,154,555)               -                -                      -
      (115,500)                   -              (115,500)               -                -               (115,500)
                                          ----------------
             -                    -            (3,270,055)               -                -                      -
                                  -                                      -                -              2,677,000
                                  -                                      -                -                120,000
                                  -                                      -                -                150,000
                                  -                                      -                -                 48,620
             -                    -                                      -                -                      -
             -             (506,789)                                     -                -               (506,789)
-------------------------------------------------------------------------------------------------------------------

     $(115,500)        $(27,776,726)                                14,500        $(145,887)           $14,210,623
===================================================================================================================
                                                      SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.	

F-7
 
TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31,                                                          2002              2001              2000
---------------------------------------------------------------------------------------------------------------------------
OPERATING ACTIVITIES
   Net loss                                                                $(3,154,555)      $(2,262,787)      $(1,541,884)
   Adjustments to reconcile net loss to net cash
     used in operating activities:
       Depreciation, depletion and amortization                              2,413,597         1,849,963           371,249
       Compensation and services paid in stock options, stock
         warrants, and common stock                                             48,620            92,253           284,000
       Gain on sale of equipment                                                     -          (132,943)                -
       Changes in assets and liabilities:
         Accounts receivable                                                   (69,192)            3,814          (301,421)
         Participant receivables                                                13,492                 -                 -
         Inventory                                                            (103,384)           91,981             8,408
         Other assets                                                           58,000                 -                 -
         Accounts payable - trade                                              188,597           191,702           364,553
         Accrued interest payable                                                7,003            (2,519)          135,435
         Other accrued liabilities                                              31,805           (52,640)         (140,955)
---------------------------------------------------------------------------------------------------------------------------

Net cash used in operating activities                                         (566,017)         (221,176)         (820,615)
---------------------------------------------------------------------------------------------------------------------------

INVESTING ACTIVITIES
   Additions to other property and equipment                                  (214,897)         (285,722)       (1,276,783)
   Net additions to oil and gas properties                                  (1,982,529)       (4,821,883)       (1,456,996)
   Additions to pipeline facilities                                           (841,750)       (4,213,095)       (6,834,196)
   Decrease (increase) in restricted cash                                      120,872          (120,872)          625,000
   Other                                                                        28,367            32,888             6,112
---------------------------------------------------------------------------------------------------------------------------

Net cash used in investing activities                                       (2,889,937)       (9,408,684)       (8,936,863)
---------------------------------------------------------------------------------------------------------------------------	

F-8
 
TENGASCO, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31,                                                         2002              2001              2000
--------------------------------------------------------------------------------------------------------------------------
FINANCING ACTIVITIES
   Proceeds from exercise of options                                      $         -       $ 2,341,000       $   180,013
   Proceeds from borrowings                                                 2,063,139        10,442,068         6,493,563
   Repayments of borrowings                                                (2,378,273)       (8,833,325)       (1,720,856)
   Net proceeds from issuance of common stock                               2,677,000         3,900,000         4,245,700
   Proceeds from private placements of convertible
     redeemable preferred stock, net                                        1,303,168         1,591,150         2,000,000
   Dividends on convertible redeemable preferred stock                       (364,858)         (357,503)         (257,557)
   Purchase of treasury stock                                                       -          (145,887)                -
   Payment of loan fees                                                       (53,543)         (518,167)                -
--------------------------------------------------------------------------------------------------------------------------

Net cash provided by financing activities                                   3,246,633         8,419,336        10,940,863
--------------------------------------------------------------------------------------------------------------------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                                      (209,321)       (1,210,524)        1,183,385

CASH AND CASH EQUIVALENTS, beginning of year                                  393,451         1,603,975           420,590
--------------------------------------------------------------------------------------------------------------------------

CASH AND CASH EQUIVALENTS, end of year                                    $   184,130       $   393,451       $ 1,603,975
==========================================================================================================================

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND
   FINANCING ACTIVITIES:
     During 2001, the Company issued a 5%
       stock dividend of 498,016 shares                                   $         -       $ 6,374,609       $         -
     During 2001 and 2000, the Company converted
       preferred stock to common stock.                                   $         -       $    71,000       $    50,000
     During 2002, 2001 and 2000, respectively,
       the Company issued common stock on
       conversion of debt.                                                $   120,000       $   523,250       $   450,000
     During 2002, 2001 and 2000, respectively, the
       Company issued common stock and stock options
       for services received and charitable contributions
       made.                                                              $    48,620       $    92,253       $   284,000
     During 2001, the Company sold equipment
       for equity investments.                                            $         -       $   150,000       $         -
     During 2002, the Company purchased equipment
       by issuing common stock                                            $   150,000       $         -       $         -
==========================================================================================================================
                                                             SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.	

F-9
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.  GOING CONCERN                The   accompanying    consolidated    financial
    UNCERTAINTY                  statements  have been  prepared  in  conformity
                                 with accounting  principles  generally accepted
                                 in  the  United   States  of   America,   which
                                 contemplate  continuation  of the  Company as a
                                 going concern and assume  realization of assets
                                 and  the  satisfaction  of  liabilities  in the
                                 normal   course  of   business.   The   Company
                                 continues  to be in the early stages of its oil
                                 and  gas  related   operating   history  as  it
                                 endeavors to expand its operations  through the
                                 continuation  of its  drilling  program  in the
                                 Tennessee  Swan Creek Field.  Accordingly,  the
                                 Company has incurred  continuous losses through
                                 these  operating  stages and has an accumulated
                                 deficit of  $27,776,726  and a working  capital
                                 deficit of  $7,998,835 as of December 31, 2002.
                                 During  2002,  the Company was  informed by its
                                 primary  lender  that the entire  amount of its
                                 outstanding credit facility was immediately due
                                 and  payable,  as  provided  for in the  Credit
                                 Agreement  (see  Note 7).  These  circumstances
                                 raise  substantial  doubt  about the  Company's
                                 ability to continue as a going concern.

                                 The Company has disputed its obligation to make
                                 this payment and is  attempting  to resolve the
                                 dispute  or to obtain  alternative  refinancing
                                 arrangements to repay this current  obligation.
                                 There can be no assurance that the Company will
                                 be  successful  in  its  plans  to  obtain  the
                                 financing  necessary to satisfy  their  current
                                 obligations.

2.  SUMMARY OF                   ORGANIZATION
    SIGNIFICANT ACCOUNTING
    POLICIES                     Tengasco, Inc. (the "Company"), a publicly held
                                 corporation,  was  organized  under the laws of
                                 the  State of Utah on April 18,  1916,  as Gold
                                 Deposit Mining and Milling Company. The Company
                                 subsequently   changed   its  name  to   Onasco
                                 Companies, Inc.

                                 Effective  May 2,  1995,  Industrial  Resources
                                 Corporation,  a Kentucky  corporation  ("IRC"),
                                 acquired  voting  control  of  the  Company  in
                                 exchange for approximately 60% of the assets of
                                 IRC.  Accordingly,  the assets acquired,  which
                                 included certain oil and gas leases, equipment,
                                 marketable   securities   and  vehicles,   were
                                 recorded   at  IRC's   historical   cost.   The
                                 transaction   was   accomplished   through  the
                                 Company's  issuance of 4,000,000  shares of its
                                 common stock and a $450,000, 8% promissory note
                                 payable  to  IRC.  The   promissory   note  was
                                 converted into 83,799 shares of Tengasco,  Inc.
                                 common stock in December 1995.

                                                                            F-10	

                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS	

The Company changed its domicile from the State of Utah to the State of Tennessee on May 5, 1995 and its name was changed from "Onasco Companies, Inc." to "Tengasco, Inc."
The Company's principal business consists of oil and gas exploration, production and related property management in the Appalachian region of eastern Tennessee and in the state of Kansas. The Company's corporate offices are in Knoxville, Tennessee. The Company operates as one reportable business segment, based on the similarity of activities.
During 1996, the Company formed Tengasco Pipeline Corporation ("TPC"), a wholly-owned subsidiary, to manage the construction and operation of a 65-mile gas pipeline as well as other pipelines planned for the future. During 2001, TPC began transmission of natural gas through its pipeline to customers of Tengasco.
BASIS OF PRESENTATION
The consolidated financial statements include the accounts of the Company, Tengasco Pipeline Corporation and Tennessee Land and Mineral, Inc. All significant intercompany balances and transactions have been eliminated.
USE OF ESTIMATES
The accompanying financial statements are prepared in conformity with accounting principles generally accepted in the United States of America which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The actual results could differ from those estimates.
REVENUE RECOGNITION
The Company recognizes revenues at the time of
exchange of goods and services.
CASH AND CASH EQUIVALENTS
The Company considers all investments with a maturity of three months or less when purchased to be cash equivalents.
F-11
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

INVESTMENT SECURITIES
Investment securities available for sale are reported at fair value, with unrealized gains and losses, when material, reported as a separate component of stockholders' equity, net of the related tax effect. Other comprehensive losses of $115,500 were recorded during the year ended December 31, 2002 resulting from a decrease in the fair value of the securities.
INVENTORY
Inventory consists primarily of crude oil in
tanks and is carried at market value.
OIL AND GAS PROPERTIES
The Company follows the full cost method of accounting for oil and gas property acquisition, exploration and development activities. Under this method, all productive and nonproductive costs incurred in connection with the acquisition of, exploration for and development of oil and gas reserves for each cost center are capitalized. Capitalized costs include lease acquisitions, geological and geophysical work, delay rentals and the costs of drilling, completing and equipping oil and gas wells. Gains or losses are recognized only upon sales or dispositions of significant amounts of oil and gas reserves representing an entire cost center. Proceeds from all other sales or dispositions are treated as reductions to capitalized costs.
The capitalized costs of oil and gas properties, plus estimated future development costs relating to proved reserves and estimated costs of plugging and abandonment, net of estimated salvage value, are amortized on the unit-of-production method based on total proved reserves. The costs of unproved properties are excluded from amortization until the properties are evaluated, subject to an annual assessment of whether impairment has occurred. These reserves were estimated by Ryder Scott Company, Petroleum Consultants in 2000, 2001 and 2002.
The capitalized oil and gas property, less accumulated depreciation, depletion and amortization and related deferred income taxes, if any, are generally limited to an amount (the ceiling limitation) equal to the sum of: (a) the present value of estimated future net revenues computed by applying current prices in effect as of the balance sheet date (with consideration of price changes only to the extent provided
F-12
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

by contractual arrangements) to estimated future production of proved oil and gas reserves, less estimated future expenditures (based on current costs) to be incurred in developing and producing the reserves using a discount factor of 10% and assuming continuation of existing economic conditions; and (b) the cost of investments in unevaluated properties excluded from the costs being amortized. No ceiling writedown was recorded in 2002, 2001 or 2000.
PIPELINE FACILITIES
Phase I of the pipeline was completed during 1999. Phase II of the pipeline was completed on March 8, 2001. Both phases of the pipeline were placed into service upon completion of Phase
II. The pipeline is being depreciated over its estimated useful life of 30 years, beginning at the time it was placed in service.
OTHER PROPERTY AND EQUIPMENT
Other property and equipment are carried at cost. The Company provides for depreciation of other property and equipment using the straight-line method over the estimated useful lives of the assets which range from five to ten years.
IMPAIRMENT OF LONG-LIVED ASSETS AND LONG-LIVED
ASSETS TO BE DISPOSED OF
Management believes that carrying amounts of all of the Company's long-lived assets will be fully recovered over the course of the Company's normal future operations. Accordingly, the accompanying financial statements reflect no charges or allowances for impairment.
F-13
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

STOCK-BASED COMPENSATION
Statement of Financial Accounting Standards No. 123, ("SFAS 123"), "Accounting for Stock-Based Compensation" was implemented in January 1996. As permitted by SFAS 123, the Company has continued to account for stock compensation to employees by applying the provisions of Accounting Principles Board Opinion No. 25. If the accounting provisions of SFAS 123 had been adopted, net loss and loss per share would have been as follows:

                                                   2002               2001                 2000
-----------------------------------------------------------------------------------------------
Net loss attributable to common
shareholders
    As reported                             $(3,661,344)       $(2,653,970)         $(1,799,441)
    Stock based compensation                    (77,821)          (257,328)           2,253,011
                                            -----------        -----------          -----------
    Pro forma                               $(3,739,165)        (2,911,298)          (4,052,452)
-----------------------------------------------------------------------------------------------
Basic and diluted loss per share
    As reported                            $      (0.33)        $    (0.26)         $     (0.19)
    Pro forma                                     (0.34)             (0.28)               (0.44)
-----------------------------------------------------------------------------------------------	

ACCOUNTS RECEIVABLE
Senior management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. We include any accounts receivable balances that are determined to be uncollectible, along with a general reserve, in our overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to us, we believe no allowance for doubtful accounts as of December 31, 2002 is necessary. However, actual write-offs may occur.
INCOME TAXES
The Company accounts for income taxes using the "asset and liability method." Accordingly, deferred tax liabilities and assets are determined based on the temporary differences between the financial reporting and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets arise primarily from net operating loss carryforwards. Management evaluates the likelihood of realization of such assets at year end reserving any such amounts not likely to be
F-14
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

recovered in future periods.
CONCENTRATION OF CREDIT RISK
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. At times, such cash in banks is in excess of the FDIC insurance limit.
The Company's primary business activities include oil and gas sales to several customers in the states of Tennessee and Kansas. The related trade receivables subject the Company to a concentration of credit risk within the oil and gas industry.
The Company has entered into contracts to supply two manufacturers with natural gas from the Swan Creek field through the Company's pipeline. These customers are the Company's primary customers of natural gas sales. Additionally, the Company sells a majority of its crude oil primarily to two customers, one each in Tennessee and Kansas. Although management believes that customers could be replaced in the ordinary course of business, if the present customers were to discontinue business with the Company, it could have a significant adverse effect on the Company's projected results of operations.
LOSS PER COMMON SHARE
Basic loss per share is computed by dividing loss available to common shareholders by the weighted average number of shares outstanding during each year. Shares issued during the year are weighted for the portion of the year that they were outstanding. Diluted loss per share does not differ from basic loss per share since the effect of all common stock equivalents is anti-dilutive. Basic and diluted loss per share are based upon 11,062,436 shares for the year ended December 31, 2002, 10,235,253 shares for the year ended December 31, 2001, and 9,253,622 shares for the year ended December 31, 2000. Dilated loss per share does not consider approximately 1,473,000, 943,000 and 1,001,000 potential weighted average common shares for 2002, 2001 and 2000 related primarily to common stock options and convertible preferred stock and debt. These shares were not included in the computation of the diluted loss per share amount because the Company was in a net loss position and, thus, any potential common shares were anti-dilutive. All share and per share amounts have been adjusted to reflect the 5% stock dividend.
F-15
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FAIR VALUES OF FINANCIAL INSTRUMENTS
Fair values of cash and cash equivalents, investments and short-term debt approximate their carrying values due to the short period of time to maturity. Fair values of long-term debt are based on quoted market prices or pricing models using current market rates, which approximate carrying values.
RECENT ACCOUNTING PRONOUNCEMENTS
In July 2001, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard (SFAS) No. 141, "Business Combinations" and SFAS No.142, "Goodwill and Other Intangible Assets". SFAS No. 141 addresses the initial recognition and measurement of goodwill and other intangible assets acquired in a business combination and SFAS No. 142 addresses the initial recognition and measurement of intangible assets acquired outside of a business combination whether acquired individually or with a group of other assets. These standards require all future business combinations to be accounted for using the purchase method of accounting. Goodwill will no longer be amortized but instead will be subject to impairment tests at least annually. The Company was required to adopt SFAS No. 141 on July 1, 2001, and to adopt SFAS 142 on a prospective basis as of January 1, 2002. The Company has not effected a business combination and carries no goodwill on its balance sheet; accordingly, the adoption of these standards did not have an effect on the Company's financial position or results of operations.
In 2001, the Financial Accounting Standards Board (FASB) issued SFAS No. 143, "Accounting for Asset Retirement Obligations." SFAS No. 143 addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. This statement requires companies to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset's carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company's asset retirement obligations relate primarily to the plugging dismantlement, removal, site reclamation and similar activities of its oil and gas properties. Prior to adoption of this statement, such obligations were accrued ratably over the productive
F-16
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

lives of the assets through its depreciation, depletion and amortization for oil and gas properties without recording a separate liability for such amounts. The Company plans to adopt SFAS 143 beginning on January 1, 2003; however, the effect of adoption of this statement on future results of operations or financial position has not yet been determined by management.
SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, addresses accounting and reporting for the impairment or disposal of long-lived assets. SFAS No. 144 supersedes SFAS No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of. SFAS No. 144 establishes a single accounting model for long-lived assets to be disposed of by sale and expands on the guidance provided by SFAS No. 121 with respect to cash flow estimations. SFAS No. 144 becomes effective for the Company's fiscal year beginning January 1, 2003. Management does not expect that adoption of this standard will have a material impact on the Company's financial position or results of operations.
The FASB issued Statement No. 145, Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections, on April 30, 2002. SFAS No. 145 will be effective for fiscal years beginning after May 15, 2002. This statement rescinds SFAS No. 4, Reporting Gains and Losses From Extinguishment of Debt, and requires that all gains and losses from extinguishment of debt should be classified as extraordinary items only if they meet the criteria in APB No. 30. Applying APB No. 30 will distinguish transactions that are part of an entity's recurring operations from those that are unusual or infrequent or that meet the criteria for classification as an extraordinary item. Any gain or loss on extinguishment of debt that was classified, as an extraordinary item in prior periods presented that does not meet the criteria in APB No. 30 for classification as an extraordinary item must be reclassified. There is no current impact of adoption on the Company's financial position or results of operations.
The FASB issued Statement No. 146, Accounting for Costs Associated with Exit or Disposal Activities, in June 2002. SFAS No. 146 addresses financial accounting and reporting for costs associated with exit or disposal activities and nullifies Emerging Issues Task Force Issue No. 94-3, Liability Recognition for Certain Employee Termination Benefits and Other Costs to Exit an Activity (including Certain Costs incurred in a Restructuring). SFAS No. 146 applies to costs incurred in an "exit activity", which includes, but is not limited to, a restructuring, or a "disposal activity" covered by SFAS No. 144.
F-17
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SFAS No. 146 requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred. Previously, under Issue 94-3, a liability for an exit cost was recognized at the date of an entity's commitment to an exit plan. Statement No. 146 also establishes that fair value is the objective for initial measurement of the liability. The provisions of SFAS No. 146 are effective for exit or disposal activities that are initiated after December 31, 2002. Management does not expect that adoption of this standard will have a material effect on the Company's financial position or results of operations.
In November 2002, the FASB issued Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness to Others, an interpretation of FASB Statements No. 5, 57 and 107 and a rescission of FASB Interpretation No. 34. This Interpretation elaborates on the disclosures to be made by a guarantor in its interim and annual financial statements about its obligations under guarantees issued. The Interpretation also clarifies that a guarantor is required to recognize, at inception of a guarantee, a liability for the fair value of the obligation undertaken. The initial recognition and measurement provisions of the Interpretation are applicable to guarantees issued or modified after December 31, 2002. The Company has not guaranteed the debts of others, therefore, this interpretation is not expected to have a material effect on Tengasco's financial statements.
In December 2002, the FASB issued SFAS No. 148, Accounting for Stock-Based Compensation - Transition and Disclosure, an amendment of FASB Statement No. 123. This Statement amends FASB Statement No. 123, Accounting for Stock-Based Compensation, to provide alternative methods of transition for a voluntary change to the fair value method of accounting for stock-based employee compensation. In addition, this Statement amends the disclosure requirements of Statement No. 123 to require prominent disclosures in both annual and interim financial statements. Management has adopted certain of the disclosure modifications are required for fiscal years ending after December 15, 2002 and are included in the notes to the accompanying consolidated financial statements.
F-18
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In January 2003, the FASB issued Interpretation No. 46, Consolidation of Variable Interest Entities, an Interpretation of Accounting Research Bulletin No. 51. Interpretation No. 46 requires a company to consolidate a variable interest entity if the company has a variable interest (or combination of variable interests) that will absorb a majority of the entity's expected losses if they occur, receive a majority of the entity's expected residual returns if they occur, or both. A direct or indirect ability to make decisions that significantly affect the results of the activities of a variable interest entity is a strong indication that a company has one or both of the characteristics that would require consolidation of the variable interest entity. Interpretation No. 46 also requires additional disclosures regarding variable interest entities. The new interpretation is effective immediately for variable interest entities created after January 31, 2003, and is effective in the first interim or annual period beginning after June 15, 2003, for variable interest entities in which a company holds a variable interest that it acquired before February 1, 2003. Management does not expect that adoption of this interpretation will have a material effect on the Company's financial position or results of operations.
RECLASSIFICATIONS
Certain prior year amounts have been reclassified to conform with current year presentation.
3. RELATED PARTY During 2002 the Company received debt financing TRANSACTIONS from a director totaling $750,000 to fund operating cash flow needs and to finance continued development of the Swan Creek field. Interest incurred on this debt was approximately $15,000 for the year ended December 31, 2002. See Note 7.
During 2002, the Company borrowed $110,000 from a former director. The advance was non-interest bearing and was repaid in July 2002.
During 2001, the Company repaid all principal and interest due to related parties, using the proceeds from the line of credit with Bank One. Interest incurred to related parties was approximately $15,000, $546,000 and $135,000 for the years ended December 31, 2002, 2001 and 2000, respectively.
F-19
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 During  2001,  the  Company  converted  debt of
                                 $200,000  payable  to a  director  into  42,017
                                 shares of common stock.

                                 During  2000,  the Company  paid  approximately
                                 $270,000 in consulting  fees and commissions on
                                 equity transactions to a member of the Board of
                                 Directors.

4.  OIL AND GAS                  The  following  table  sets  forth  information
    PROPERTIES                   concerning    the   Company's   oil   and   gas	

properties:

DECEMBER 31,                                      2002               2001
--------------------------------------------------------------------------
Oil and gas properties, at cost            $17,099,753        $15,117,224
Accumulation depreciation,

    depletion and amortization              (3,235,432)        (1,847,294)
--------------------------------------------------------------------------

Oil and gas properties, net                $13,864,321        $13,269,930
==========================================================================	

                                 During the years ended December 31, 2002,  2001
                                 and  2000,  the  Company   recorded   depletion
                                 expense of approximately $1,388,000, $1,342,000
                                 and $197,000, respectively.

5.  PIPELINE FACILITIES          In 1996,  the Company began  construction  of a
                                 65-mile gas  pipeline (1)  connecting  the Swan
                                 Creek  development  project to a gas  purchaser
                                 and (2)  enabling  the  Company to develop  gas
                                 distribution  business   opportunities  in  the
                                 future.  Phase  I,  a  30-mile  portion  of the
                                 pipeline,  was  completed in 1998.  Phase II of
                                 the  pipeline,  the  remaining  35  miles,  was
                                 completed in March 2001.  The estimated  useful
                                 life of the pipeline for depreciation  purposes
                                 is 30 years. The Company recorded approximately
                                 $220,000   and   $509,000,    respectively   in
                                 depreciation  expense  related to the  pipeline
                                 for the years ended December 31, 2002 and 2001.
                                 No depreciation expense was recorded in 2000 as
                                 the pipeline was not yet complete.

                                                                            F-20	

                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS	

                                        In January  1997,  the  Company  entered
                                        into an  agreement  with  the  Tennessee
                                        Valley Authority ("TVA") whereby the TVA
                                        allows the Company to bury the  pipeline
                                        within  the  TVA's   transmission   line
                                        rights-of-way. In return for this right,
                                        the Company  paid  $35,000 and agreed to
                                        annual payments of approximately  $6,200
                                        for 20 years.  This agreement expires in
                                        2017 at which time the parties may renew
                                        the  agreement  for another 20 year term
                                        in      consideration     of     similar
                                        inflation-adjusted payment terms.

6.  OTHER PROPERTY               Other  property and equipment  consisted of the	

AND EQUIPMENT following:

DECEMBER 31,                                           2002             2001
-----------------------------------------------------------------------------
Machinery and equipment                          $1,887,190       $1,737,189
Vehicles                                            675,411          610,510
Other                                                63,734           63,739
-----------------------------------------------------------------------------

                                                  2,626,335        2,411,438

Less accumulated depreciation                      (940,385)        (731,334)
-----------------------------------------------------------------------------

Other property and equipment - net               $1,685,950       $1,680,104
-----------------------------------------------------------------------------	

F-21
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7. LONG TERM DEBT Long-term debt to unrelated entities consisted of the following:

DECEMBER 31,                                              2002               2001
-----------------------------------------------------------------------------------

Revolving line of credit with a bank, due
November 2004. The loan agreement provides
for increases or decreases to the borrowing
base as changes in proved oil and gas
reserves or other production levels arise.
Borrowings bear interest at the bank's prime
rate plus 0.25% (4.5% at December 31, 2002).
Collateralized by the oil and gas properties
and the related operations and revenues.               7,501,777         $9,101,777

Unsecured note payable to an institution, with
$65,000 principal payments due quarterly
beginning January 1, 2000; remaining balance
due October 2004; with interest payable monthly
at 8% per annum. Note is convertible into
common stock of the Company at a rate of $6.25
per share of common stock.                               480,000            720,000

Convertible notes payable to five individuals;
due January 2004, with interest payable
quarterly at 8% per annum. Notes are
convertible into common stock of the Company at
a rate of $3.00 per share of common stock.               650,000                  -

Note payable to a financial institution, with
$1,773 principal payments due monthly beginning
January 7, 2002 through December 7, 2006.
Interest is payable monthly commencing on
January 7, 2002 at 7.5% per annum. Note is
guaranteed by a major shareholder and is
collateralized by certain assets of the
Company.                                                  73,335             87,500

-----------------------------------------------------------------------------------

Balance carried forward                                8,705,112          9,909,277
-----------------------------------------------------------------------------------	

F-22
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31,                                             2002               2001
-----------------------------------------------------------------------------------
Balance brought forward                                8,705,112          9,909,277
-----------------------------------------------------------------------------------

Installment notes bearing interest at the rate
of 3.9% to 11.95% per annum collateralized by
vehicles and equipment with monthly payments
including interest of approximately $10,000 due
various periods through 2006.                            412,342            393,311
-----------------------------------------------------------------------------------

Total long term debt                                   9,117,454         10,302,588

Less current maturities                               (7,861,245)        (6,399,831)
-----------------------------------------------------------------------------------

Long term debt less current maturities              $  1,256,209       $  3,902,757
-----------------------------------------------------------------------------------	

The Company is subject to certain financial
(ratio) covenants and restrictions on indebtedness, dividend payments, financial guarantees, business combinations, reporting requirements and other related items on the revolving line of credit with a bank. As of December 31, 2002, the Company is not in compliance with all covenants. During 2002, as a result of ongoing negotiations to refinance or repay the debt, the bank declared all amounts immediately due and payable. The Company is presently paying $200,000 per month. As a result of ongoing negotiations with Book One, management has reclassified the loan fees associated with this note to a current asset as it is likely that these fees will be fully amortized in 2003.
F-23
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Long-term debt to related parties consisted of the following:

DECEMBER 31,                                              2002               2001
-----------------------------------------------------------------------------------
Unsecured note payable to a director due
January 2004, with interest payable quarterly
at 8% per annum. Note is convertible into
common stock of the Company at a rate of $2.88
per share of common stock.                              $500,000         $        -

Note payable to a director due January
2004,with interest payable quarterly at 12% per
annum. Note is secured by 10% of the pipeline.           250,000                  -
-----------------------------------------------------------------------------------

Total long term debt to related parties                  750,000                  -
Less current maturities                                        -                  -
-----------------------------------------------------------------------------------

Long term debt to related parties, less
current maturities                                      $750,000         $        -
===================================================================================	

The aggregate maturities of long term debt due to related parties and others as of December 31, 2002, are as follows:

                                       Year                            Amount
                                 -----------------------------------------------

                                       2003                        $7,861,245
                                       2004                         1,720,468
                                       2005                           101,468
                                       2006                           101,803
                                       Thereafter                      82,470
                                 -----------------------------------------------

                                                                   $9,867,454

                                 ===============================================

8.  COMMITMENTS                  The  Company  is a  party  to  lawsuits  in the
    AND CONTINGENCIES            ordinary  course  of its  business.  While  the
                                 damages  sought  in some of these  actions  are
                                 material,  the Company does not believe that it
                                 is probable that the outcome of any  individual
                                 action will have a material adverse effect,  or
                                 that it is  likely  that  adverse  outcomes  of
                                 individually   insignificant  actions  will  be
                                 significant enough, in number or magnitude,  to
                                 have a material adverse effect in the aggregate
                                 on its financial statements.

                                                                            F-24	

                                                 TENGASCO, INC. AND SUBSIDIARIES

                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS	

In the ordinary course of business the Company has entered into various equipment and office leases which have remaining terms ranging from one to four years. Approximate future minimum lease payments to be made under noncancellable operating leases are as follows:

  Year                                  Amount
-----------------------------------------------

  2003                                $ 60,158
  2004                                  59,210
  2005                                  56,970
  2006                                     500
-----------------------------------------------

                                      $176,838
===============================================

Office rent expense was approximately  $84,000,	

$91,000 and $86,000 for each of the three years ended December 31, 2002, respectively.
9. CUMULATIVE
CONVERTIBLE Shares of both Series A and B of Preferred REDEEMABLE Stock are or will be immediately convertible PREFERRED STOCK into shares of Common Stock. Each $100 liquidation preference share of preferred stock is convertible at a rate of $7.00 for the Series A per share of common stock. For the Series B, the conversion rate is the average market price of the Company's common stock for 30 days before the sale of the Series B preferred stock with a minimum conversion price of $9.00 per share. The conversion rate is subject to downward adjustment if the Company subsequently issues shares of common stock for consideration less than $7.00 and $9.00 for the Series A and B, respectively, per share. The conversion prices will be adjusted prospectively for stock dividends and splits.
The holders of both the Series A and Series B Preferred Stock are entitled to a cumulative dividend of 8% per quarter. However, the payment of the dividends on the Series B Preferred Stock is subordinate to that of the Series A Preferred Stock. In the event that the Company does not make any two of six consecutive quarterly dividend payments, the holders of the Series A Preferred Stock may appoint those directors which would constitute of majority of the Board of Directors. In such a scenario, the holders of the Preferred Shares would be entitled to elect a majority of the Board of Directors until all accrued and unpaid dividends have been paid.
F-25
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 The  Company  failed  to pay  the  3rd  and 4th
                                 quarterly  dividend  payments  of the  Series A
                                 preferred  stock during 2002.  As a result,  in
                                 February   2003,   the  Series  A  shareholders
                                 exercised   their  rights  to  place  four  new
                                 members on the Board of Directors.

                                 The Company may redeem both of the Series A and
                                 B  Preferred  Shares  upon  payment of $100 per
                                 share plus any  accrued  and unpaid  dividends.
                                 Further, with respect to the Series A Preferred
                                 Stock,  commencing  on  October  1, 2003 and at
                                 each quarterly date thereafter while the Series
                                 A Preferred Stock is  outstanding,  the Company
                                 is  required  to  redeem  one-twentieth  of the
                                 maximum  number  of  Series A  Preferred  Stock
                                 outstanding.  With  respect  to  the  Series  B
                                 Preferred Stock, on the fifth anniversary after
                                 issuance (March 2005),  the Company is required
                                 to redeem all  outstanding  Series B  Preferred
                                 Stock.

                                 During 2002, the Board of Directors  authorized
                                 the sale of up to  50,000  shares  of  Series C
                                 Preferred Stock at $100 per share.  The Company
                                 issued 14,491 shares, resulting in net proceeds
                                 after  commissions of $1,303,168.  The Series C
                                 Preferred   Stock   accrues  a  6%   cumulative
                                 dividend on the  outstanding  balance,  payable
                                 quarterly.  These  dividends are subordinate to
                                 the  dividends  payable  to  the  Series  A and
                                 Series B Preferred Stock holders. This stock is
                                 convertible  into the Company's common stock at
                                 the average  stock  trading price 30 days prior
                                 to the closing of the sales of all the Series C
                                 Preferred  Stock  being  offered  or $5.00  per
                                 share,  whichever  is  greater.  The Company is
                                 required  to  redeem  any  remaining  Series  C
                                 Preferred  Stock  and any  accrued  and  unpaid
                                 dividends in July 2006.

10. STOCK DIVIDEND               On August 1, 2001,  the Company paid a 5% stock
                                 dividend  distributable  on  October 1, 2001 to
                                 shareholders of record of the Company's  common
                                 stock on September 4, 2001. Based on the number
                                 of  common  shares  outstanding  on the  record
                                 date,  the Company  issued  498,016 new shares.
                                 All  references in the  accompanying  financial
                                 statements  to the number of common  shares and
                                 per share  amounts  are based on the  increased
                                 number of shares giving  retroactive  effect to
                                 the stock dividend.	

F-26
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

11. STOCK OPTIONS                In October 2000,  the Company  approved a Stock
                                 Incentive  Plan.  The Plan is  effective  for a
                                 ten-year period  commencing on October 25, 2000
                                 and ending on October 24, 2010.  The  aggregate
                                 number of  shares  of Common  Stock as to which
                                 options  and Stock  Appreciation  Rights may be
                                 granted to  Employees  under the plan shall not
                                 exceed 1,000,000. Options are not transferable,
                                 fully vest after two years of  employment  with
                                 the Company, are exercisable for 3 months after
                                 voluntary  resignation  from the  Company,  and
                                 terminate    immediately    upon    involuntary
                                 termination  from  the  Company.  The  purchase
                                 price of shares  subject  to this  Nonqualified
                                 Stock  Option Plan shall be  determined  at the
                                 time  the  options  are  granted,  but  are not
                                 permitted  to be  less  than  85% of  the  Fair
                                 Market  Value  of such  shares  on the  date of
                                 grant. Furthermore, an employee in the plan may
                                 not,  immediately  prior  to  the  grant  of an
                                 Incentive Stock Option hereunder,  own stock in
                                 the Company  representing more than ten percent
                                 of the total  voting  power of all  classes  of
                                 stock  of the  Company  unless  the  per  share
                                 option  price  specified  by the  Board for the
                                 Incentive   Stock  Options   granted  such  and
                                 Employee  is at least  110% of the Fair  Market
                                 Value  of the  Company's  stock  on the date of
                                 grant and such  option,  by its  terms,  is not
                                 exercisable  after  the  expiration  of 5 years
                                 from the date such stock option is granted.

                                 Stock option activity in 2002, 2001 and 2000 is	

summarized below:

                                               2002                         2001                      2000
                                     -------------------------     ------------------------  ------------------------
                                                    WEIGHTED                     WEIGHTED                   WEIGHTED
                                                     AVERAGE                      AVERAGE                    AVERAGE
                                                    EXERCISE                     EXERCISE                   EXERCISE
                                         SHARES        PRICE         SHARES         PRICE       SHARES         PRICE
----------------------------------------------------------------------------------------------------------------------
            OUTSTANDING,
              beginning
              of year                  516,028        $9.23         1,017,450    $  8.54         530,250      $6.91
            Granted                    160,742         2.86            78,750      12.39         855,451       8.69
            Exercised                        -         -             (256,772)      8.69         (21,751)      8.69
            Expired/canceled                 -         -             (323,400)      7.85        (346,500)      6.91
                                     ---------                     ----------                 ----------

            OUTSTANDING,
              end of year              676,770         7.71           516,028       9.23       1,017,450       8.54
----------------------------------------------------------------------------------------------------------------------

            EXERCISABLE,
              end of year              676,770        $7.71           474,889    $  9.21         930,258      $8.49
======================================================================================================================	

F-27
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The share information disclosed above has been adjusted to reflect the 5% stock dividend declared during 2001. See Note 10.
The following table summarizes information about stock options outstanding at December 31, 2002:

                                 OPTIONS                         OPTIONS
                               OUTSTANDING                     EXERCISABLE
                ------------------------------------------   ---------------
                                               WEIGHTED
                    WEIGHTED                    AVERAGE
                     AVERAGE                  REMAINING
                    EXERCISE                CONTRACTUAL
                       PRICE        SHARES  LIFE (YEARS)           SHARES
==========================================================   ---------------
                   $    2.86       160,742         2.67           160,742
                   $    8.69       437,278         0.85           437,278
                   $   14.44        21,000         1.13            21,000
                   $   11.05        47,250         1.30            47,250
                   $   12.70        10,500         1.71            10,500
                                ------------                 ---------------

Total              $    7.71       676,770                        676,770
============================================================================	

The weighted average fair value per share of options granted during 2002, 2001 and 2000 is $1.45, $3.62, and $3.41 respectively, calculated using the Black-Scholes Option-Pricing model.
No compensation expense related to stock options was incurred in 2002, 2001 or 2000. The Company issued 70,715 options to non-employees and non-directors in 2000. The expense of $242,000 for these options has been included in professional fees expense because the options were issued to providers of such services. The expense was calculated using a fair market value of the options based on the Black-Scholes option-pricing model assumptions discussed below.
For employees, the fair value of stock options used to compute pro forma net loss and loss per share disclosures is the estimated present value at grant date using the Black-Scholes option-pricing model with the following weighted average assumptions for 2002, 2001 and 2000: Expected volatility of 74.2% for 2002, 50% for 2001 and 50% for 2000; a risk free interest rate of 3.67% in 2002, 3.67% in 2001 and 5.86% in 2000; and an expected option life of 3 years for 2002, 2001 and 2000.
F-28
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

12. INCOME TAXES                 The  Company has no taxable  income  during the
                                 three year period ended December 31, 2002.

                                 A reconciliation  of the statutory U.S. Federal
                                 income  tax  and  the   income  tax   provision
                                 included  in  the   accompanying   consolidated	

statements of loss is as follows:

DECEMBER 31,                                        2002               2001                2000
------------------------------------------------------------------------------------------------
Statutory rate                                        34%                34%                34%
Tax benefit at statutory rate                $(1,073,000)        $ (769,000)         $(452,500)
State income tax benefit                        (189,000)          (136,000)           (75,500)
Other                                                  -                  -             24,000
Increase in deferred tax asset
  valuation allowance                          1,262,000            905,000            504,000
------------------------------------------------------------------------------------------------

Total income tax provision                   $         -         $        -          $       -
================================================================================================	

DECEMBER 31,                                        2002                2001                2000
-------------------------------------------------------------------------------------------------
Net operating loss carryforward              $ 7,139,000         $ 5,877,000         $ 4,972,000
Capital loss carryforward                        263,000             263,000             263,000
-------------------------------------------------------------------------------------------------

                                               7,402,000           6,140,000           5,235,000

Valuation allowance                           (7,402,000)         (6,140,000)         (5,235,000)
-------------------------------------------------------------------------------------------------

Net deferred taxes                           $         -         $         -         $        -
================================================================================================	

The Company recorded a valuation allowance at December 31, 2002, 2001 and 2000 equal to the excess of deferred tax assets over deferred tax liabilities as management is unable to determine that these tax benefits are more likely than not to be realized. Potential future reversal of the portion of the valuation allowance relative to deferred tax asset resulting from the exercise of stock options will be recorded as additional paid in capital realized
As of December 31, 2002, the Company had net operating loss carryforwards of approximately $18,217,000, which will expire between 2010 and 2022, if not utilized.
F-29
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

13. SUPPLEMENTAL CASH The Company paid approximately $571,000, FLOW INFORMATION $853,500 and $544,000 for interest in 2002, 2001 and 2000, respectively. The Company capitalized approximately $148,000 and $128,000 of this amount in 2001 and 2000, respectively. No interest was capitalized during 2002. The Company paid no income taxes in 2002, 2001 and 2000.
F-30
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

14. QUARTERLY DATA AND The following table sets forth, for the fiscal SHARE INFORMATION periods indicated, selected consolidated (UNAUDITED) financial data.

                                                                                           FISCAL YEAR ENDED 2002
------------------------------------------------------------------------------------------------------------------
                                                        First          Second              Third           Fourth
                                                      Quarter         Quarter            Quarter          Quarter
------------------------------------------------------------------------------------------------------------------
Revenues                                           $1,176,482      $1,297,668         $1,507,308       $1,719,020
Net loss                                            (818,341)       (858,197)          (721,879)        (756,138)
Net loss attributable to common
   stockholders                                     (930,799)       (984,139)          (856,074)        (890,332)
------------------------------------------------------------------------------------------------------------------
Loss per common share
   Basic and diluted                               $   (0.09)      $   (0.09)         $   (0.08)       $   (0.07)
------------------------------------------------------------------------------------------------------------------	

                                                                                           FISCAL YEAR ENDED 2001
------------------------------------------------------------------------------------------------------------------
                                                        First          Second              Third           Fourth
                                                      Quarter         Quarter            Quarter          Quarter
------------------------------------------------------------------------------------------------------------------
Revenues                                           $1,448,318      $1,863,068         $2,583,758     $ 1,101,542
Net loss                                            (368,768)       (336,034)          (378,597)      (1,179,388)
Net loss attributable to common
   stockholders                                     (447,546)       (423,523)          (491,055)      (1,291,846)
------------------------------------------------------------------------------------------------------------------
Loss per common share
   Basic and diluted                               $   (0.05)      $   (0.04)         $   (0.05)     $     (0.12)
------------------------------------------------------------------------------------------------------------------	

                                                                                           FISCAL YEAR ENDED 2000
------------------------------------------------------------------------------------------------------------------
                                                        First          Second              Third           Fourth
                                                      Quarter         Quarter            Quarter          Quarter
------------------------------------------------------------------------------------------------------------------
Revenues                                           $1,179,912      $1,270,283         $1,666,583    $  1,124,298
Net Income (loss)                                    (70,453)       (379,234)             84,909     (1,177,106)
Net Income (loss) attributable to common
   stockholders                                     (110,231)       (451,394)             18,064     (1,255,880)
------------------------------------------------------------------------------------------------------------------
Earnings (loss) per common share
   Basic and diluted                               $   (0.01)      $   (0.05)         $        -    $     (0.13)
------------------------------------------------------------------------------------------------------------------	

F-31
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 Third  quarter 2001 results  reflect the effect
                                 on  depletion  expense  that  resulted  from  a
                                 decrease  in reserve  estimates  provided  in a
                                 study  performed  by  Ryder  Scott  and  issued
                                 August 10,  2001.  The amount  recorded  during
                                 this  quarter  was  $562,000  higher  than  the
                                 quarterly  estimates made by management  during
                                 the  first  three  quarters  as a  result  of a
                                 change in estimate arising from new information
                                 provided  in the Ryder  Scott  Report.  Amounts
                                 disclosed  above  differ  from those filed with
                                 the SEC during  the third  quarter of 2001 as a
                                 result of an error in recording  this change in
                                 estimate  to  depletion  at  the  time  of  the
                                 filing.  Management  has amended the  September
                                 30, 2001 SEC Form 10-Q filing during 2002.

15. SUPPLEMENTAL  OIL AND        Information  with respect to the  Company's oil
    GAS INFORMATION              and gas  producing  activities  is presented in
                                 the  following  tables.  Estimates  of  reserve
                                 quantities,  as well as future  production  and
                                 discounted cash flows before income taxes, were
                                 determined by Ryder Scott  Company,  L.P. as of
                                 December 31, 2002, 2001 and 2000.

                                 OIL AND GAS RELATED COSTS

                                 The  following  table  sets  forth  information
                                 concerning  costs  related to the Company's oil
                                 and gas property  acquisition,  exploration and
                                 development  activities  in the  United  States
                                 during the years ended December 31, 2002,  2001	

and 2000:

                                     2002             2001               2000
------------------------------------------------------------------------------
Property acquisition
  Proved                      $         -      $         -        $         -
  Unproved                              -                -              5,702
Less - proceeds from
  sales of properties            (100,000)        (750,000)        (1,176,411)
Development costs               2,082,529        5,571,883          2,627,705
------------------------------------------------------------------------------

                              $ 1,982,529      $ 4,821,883        $ 1,456,996
==============================================================================	

F-32
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

RESULTS OF OPERATIONS FROM OIL AND GAS
PRODUCING ACTIVITIES
The following table sets forth the Company's results of operations from oil and gas producing activities for the years ended:

December 31,                              2002            2001           2000
------------------------------------------------------------------------------
Revenues                          $  5,437,723     $ 6,656,758    $ 5,241,076
Production costs and taxes          (3,094,731)     (2,951,746)    (2,614,414)
Depreciation, depletion and
    amortization                    (1,388,138)     (1,342,000)      (197,000)
------------------------------------------------------------------------------

Income from oil and gas
    producing activities          $    954,854     $ 2,363,012    $ 2,429,662
------------------------------------------------------------------------------	

In the presentation above, no deduction has been made for indirect costs such as corporate overhead or interest expense. No income taxes are reflected above due to the Company's tax loss carryforwards.
OIL AND GAS RESERVES (UNAUDITED)
The following table sets forth the Company's net proved oil and gas reserves at December 31, 2002, 2001 and 2000 and the changes in net proved oil and gas reserves for the years then ended. Proved reserves represent the estimated quantities of crude oil and natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable in the future years from known reservoirs under existing economic and operating conditions. The reserve information indicated below requires substantial judgment on the part of the reserve engineers, resulting in estimates which are not subject to precise determination. Accordingly, it is expected that the estimates of reserves will change as future production and development information becomes available and that revisions in these estimates could be significant. Reserves are measured in barrels
(bbls) in the case of oil, and units of one thousand cubic feet (MCF) in the case of gas.
F-33
 
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                               OIL (BBLS)           GAS (MCF)
-----------------------------------------------------------------------------
Proved reserves:

Balance, January 1, 2000                       3,227,203          74,795,287
  Discoveries and extensions                      56,103           1,059,147
  Revisions of previous estimates             (1,309,366)        (27,998,986)
  Production                                    (159,035)           (315,577)
-----------------------------------------------------------------------------

Balance, December 31, 2000                     1,814,905          47,539,871
  Discoveries and extensions                      62,254           4,915,431
  Revisions of previous estimates               (672,443)        (25,263,634)
  Production                                    (148,041)         (1,311,466)
-----------------------------------------------------------------------------

Balance, December 31, 2001                     1,056,675          25,880,202
  Discoveries and extensions                      34,968             937,000
  Revisions of previous estimates                542,229             786,430
  Production                                    (157,973)         (1,004,899)
-----------------------------------------------------------------------------

Proved reserves at, December 31, 2002          1,475,899          26,598,733
=============================================================================

Proved developed producing
  reserves at, December 31, 2002               1,108,293           6,592,711
=============================================================================

Proved developed producing
  reserves at, December 31, 2001                 767,126           7,157,183
=============================================================================

Proved developed producing
  reserves at, December 31, 2000               1,553,759           2,888,769
=============================================================================	

Of the Company's total proved reserves as of December 31, 2002 and 2001 and 2000, approximately 37%, 36% and 21%, respectively, were classified as proved developed producing, 19%, 26% and 34%, respectively, were classified as proved developed non-producing and 44%, 37% and 45%, respectively, were classified as proved undeveloped. All of the Company's reserves are located in the continental United States.
F-34
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET
CASH FLOWS (UNAUDITED)
The standardized measure of discounted future net cash flows from the Company's proved oil and gas reserves is presented in the following table:

                                             AMOUNTS IN THOUSANDS
                             ------------------------------------------------
December 31,                             2002             2001          2000
-----------------------------------------------------------------------------
Future cash inflows                  $152,180        $  78,296     $ 505,733
Future production
    costs and taxes                   (41,870)         (26,083)      (41,689)
Future development costs              (11,348)          (6,384)       (8,225)
Future income tax expenses                  -                -      (122,881)
-----------------------------------------------------------------------------

Net future cash flows                  98,962           45,829       332,938

Discount at 10% for
    timing of cash flows              (52,314)         (24,095)      (97,195)
-----------------------------------------------------------------------------

Discounted future net
    cash flows from
    proved reserves                  $ 46,648        $  21,734     $ 235,743
-----------------------------------------------------------------------------	

F-35
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following unaudited table sets forth the changes in the standardized measure of discounted future net cash flows from proved reserves during 2002, 2001 and 2000:

                                                 AMOUNTS IN THOUSANDS
                                 --------------------------------------------
                                            2002            2001        2000
-----------------------------------------------------------------------------
BALANCE, beginning of year            $   21,734       $ 235,743   $ 100,882
Sales, net of production costs
  and taxes                               (2,343)         (3,705)     (2,627)
Discoveries and extensions                 1,686           4,167       1,778
Changes in prices and
  production costs                        20,586        (299,527)    360,082
Revisions of quantity estimates            6,120         (33,449)   (186,289)
Development costs incurred                                     -       1,236
Interest factor - accretion
  of discount                              2,173          32,198      13,355
Net change in income taxes                     -          86,237     (53,572)
Changes in future development
  costs                                   (4,860)          2,666      (3,237)
Changes in production rates
  and other                                1,552          (2,596)      4,135
-----------------------------------------------------------------------------

BALANCE, end of year                   $  46,648       $  21,734   $ 235,743
-----------------------------------------------------------------------------	

Estimated future net cash flows represent an estimate of future net revenues from the production of proved reserves using current sales prices, along with estimates of the operating costs, production taxes and future development and abandonment costs (less salvage value) necessary to produce such reserves. The average prices used at December 31, 2002, 2001 and 2000 were $27.25, $17.03 and $25.62 per barrel of oil and $4.01, $2.33 and $9.66 per MCF of gas, respectively. No deduction has been made for depreciation, depletion or any indirect costs such as general corporate overhead or interest expense.
Operating costs and production taxes are estimated based on current costs with respect to producing gas properties. Future development costs are based on the best estimate of such costs assuming current economic and operating conditions. The estimates of reserve values include estimated future development costs that the company does not currently have the ability to fund. If the company is unable to obtain additional funds, it may not be able to develop its oil and natural gas properties as estimated in its December 31, 2002 reserve report.
F-36
TENGASCO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Income tax expense is computed based on applying the appropriate statutory tax rate to the excess of future cash inflows less future production and development costs over the current tax basis of the properties involved, less applicable carryforwards, for both regular and alternative minimum tax.
The future net revenue information assumes no escalation of costs or prices, except for gas sales made under terms of contracts which include fixed and determinable escalation. Future costs and prices could significantly vary from current amounts and, accordingly, revisions in the future could be significant.
F-37
 
Exhibit 21
List of Subsidiaries
Name State Of Incorporation
Tengasco Pipeline Corporation Tennessee Tennessee Land and Mineral Corporation Tennessee
 
Exhibit 99.16
CERTIFICATION
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 I hereby certify that:
I have reviewed the Annual Report on Form 10-K;
to the best of my knowledge, this Annual Report on Form 10-K (i) fully complies with the requirements of section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d); and (ii) the information contained in this Report fairly presents, in all material respects, the financial condition and results of operation of Tengasco, Inc. and its subsidiaries during the period covered by this Report.

Dated: March 31, 2003

                                                     /s/ RICHARD T. WILLIAMS
                                                         ---------------------
                                                         Richard T. Williams,
                                                         Chief Executive Officer	

CERTIFICATION
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 I hereby certify that:
I have reviewed the Annual Report on Form 10-K;
to the best of my knowledge, this Annual Report on Form 10-K (i) fully complies with the requirements of section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d); and (ii) the information contained in this Report fairly presents, in all material respects, the financial condition and results of operation of Tengasco, Inc. and its subsidiaries during the period covered by this Report.

Dated: March 31, 2003

                                     /s/MARK A. RUTH
                                     -------------------
                                     Mark A. Ruth,
                                     Principal Financial and Accounting Officer	

TENGASCO, INC.
ESTIMATED
FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN
LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF
DECEMBER 31, 2002
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS

[LOGO]   RYDER SCOTT COMPANY
         ---------------------
         PETROLEUM CONSULTANTS                                FAX (713) 651-0849	

1100 LOUISIANA SUITE 3800 HOUSTON, TEXAS 77002-5218 TELEPHONE (713) 651-9191
February 10, 2003
Tengasco, Inc.
603 Main Avenue, Suite 500
Knoxville, Tennessee 37902
Gentlemen:
At your request, we have prepared an estimate of the reserves, future production, and income attributable to certain leasehold and royalty interests of Tengasco, Inc. (Tengasco) as of December 31, 2002. The subject properties are located in the states of Kansas and Tennessee. The income data were estimated using the Securities and Exchange Commission (SEC) requirements for future price and cost parameters.
The estimated reserves and future income amounts presented in this report are related to hydrocarbon prices. Hydrocarbon prices in effect at December 31, 2002 were used in the preparation of this report as required by SEC rules; however, actual future prices may vary significantly from December 31, 2002 prices. Therefore, volumes of reserves actually recovered and amounts of income actually received may differ significantly from the estimated quantities presented in this report. The results of this study are summarized below.
SEC PARAMETERS
 Estimated Net Reserves and Income Data
Certain Leasehold and Royalty Interests of 
TENGASCO, INC.
As of December 31, 2002

                                                                 Proved
                                   -------------------------------------------------------------------
                                              Developed
                                   -----------------------------                              Total
                                    Producing      Non-Producing        Undeveloped          Proved
                                   -----------     -------------        -----------       ------------
NET REMAINING RESERVES
  Oil/Condensate - Barrels           1,108,293           154,814            212,792          1,475,899
  Gas - MMCF                             6,593             5,849             14,157             26,599

INCOME DATA
  Future Gross Revenue             $56,904,962       $27,996,664        $63,722,271       $148,623,897
  Deductions                        30,088,742         3,193,124         16,380,027         49,661,893
                                   -----------       -----------        -----------       ------------
  Future Net Income (FNI)          $26,816,220       $24,803,540        $47,342,244       $ 98,962,004

  Discounted FNI @ 10%             $14,795,442       $ 7,423,227        $24,429,351       $ 46,648,020	

1100, 530 8TH AVENUE, S.W. CALGARY, ALBERTA T2P 3S8 TEL (403) 262-2799
FAX (403) 262-2790
600 17TH STREET, SUITE 1610N DENVER, COLORADO 80202-5416 TEL (303) 623-9147
FAX (303) 623-4258
 
Tengasco, Inc.
February 10, 2003
Page 2

                                                    Probable
                                   -----------------------------------------          Total
                                    Developed                        Total           Possible
                                   Behind Pipe    Undeveloped      Probable        Undeveloped
                                   -----------    -----------     ----------       -----------
NET REMAINING RESERVES
  Oil/Condensate - Barrels                 0           52,167         52,167                0
  Gas - MMCF                              16                0             16            2,228

INCOME DATA
  Future Gross Revenue               $66,185       $1,414,952     $1,481,137       $9,119,069
  Deductions                               0          780,565        780,565        3,324,582
                                     -------       ----------     ----------       ----------
  Future Net Income (FNI)            $66,185       $  634,387     $  700,572       $5,794,487

  Discounted FNI @ 10%               $32,968       $  259,925     $  292,893       $3,185,002	

Liquid hydrocarbons are expressed in standard 42 gallon barrels. All gas volumes are sales gas expressed in millions of cubic feet (MMCF) at the official temperature and pressure bases of the areas in which the gas reserves are located.
The future gross revenue is after the deduction of production taxes. The deductions comprise the normal direct costs of operating the wells, recompletion costs and development costs. The future net income is before the deduction of state and federal income taxes and general administrative overhead, and has not been adjusted for outstanding loans that may exist nor does it include any adjustment for cash on hand or undistributed income. No attempt was made to quantify or otherwise account for any accumulated gas production imbalances that may exist. Gas reserves account for approximately 73.6 percent and liquid hydrocarbon reserves account for the remaining 26.4 percent of total future gross revenue from proved reserves.
The discounted future net income shown above was calculated using a discount rate of 10 percent per annum compounded monthly. Future net income was discounted at four other discount rates which were also compounded monthly. These results are shown on each estimated projection of future production and income presented in a later section of this report and in summary form below.

                                Discounted Future Net Income
                                  As of December 31, 2002
                    -------------------------------------------------
Discount Rate          Total             Total                Total
   Percent             Proved           Probable            Possible
-------------       -----------         --------           ----------

       5            $63,186,507         $441,915           $4,284,225
      15            $36,681,296         $200,900           $2,378,901
      20            $29,900,086         $140,905           $1,783,727
      25            $24,979,299         $100,066           $1,341,618	

The results shown above are presented for your information and should not be construed as our estimate of fair market value.
RESERVES INCLUDED IN THIS REPORT
The PROVED RESERVES included herein conform to the definition as set forth in the Securities and Exchange Commission's Regulation S-X Part 210.4-10
(a) as clarified by subsequent Commission Staff Accounting Bulletins. The PROBABLE RESERVES and POSSIBLE RESERVES included herein conform to definitions of probable and possible reserves approved by the SPE/WPC using the deterministic
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 3
methodology. The definitions of proved, probable, and possible reserves are included under the tab "Petroleum Reserves Definitions" in this report.
We have included probable and possible reserves and income in this report at the request of Tengasco. These data are for Tengasco's information only, and should not be included in reports to the SEC according to the SEC disclosure specifications. The probable reserves are less certain to be recovered than the proved reserves and reserves classified as possible are less certain to be recovered than those in the probable category. The reserves and income quantities attributable to the different reserve classifications that are included herein have not been adjusted to reflect the varying degrees of risk associated with them and thus are not comparable.
Because of the direct relationship between volumes of proved undeveloped reserves and development plans, we include in the proved undeveloped category only reserves assigned to undeveloped locations that we have been assured will definitely be drilled.
The various reserve status categories are defined under the tab "Petroleum Reserves Definitions" in this report. The developed non-producing reserves included herein are comprised of the shut-in and behind pipe categories.
ESTIMATES OF RESERVES
The reserves included herein were estimated using the performance, volumetric and analogy methods. The reserves estimated by the performance method utilized extrapolations of various historical data in those cases where such data were definitive in our opinion. Performance estimates accounted for 37.4 percent of the proved reserves on a net oil equivalent basis. Reserves were estimated by the volumetric and analogy methods in those cases where there were inadequate historical performance data to establish a definitive trend or where the use of performance data as a basis for the reserve estimates was considered to be inappropriate. Reserves by analogy accounted for 46.0 percent of reserves and volumetric estimates accounted for the remaining 16.6 percent.
The reserves included in this report are estimates only and should not be construed as being exact quantities. They may or may not be actually recovered, and if recovered, the revenues therefrom and the actual costs related thereto could be more or less than the estimated amounts. Moreover, estimates of reserves may increase or decrease as a result of future operations.
FUTURE PRODUCTION RATES
Initial production rates are based on the current producing rates for those wells now on production. Test data and other related information were used to estimate the anticipated initial production rates for those wells or locations that are not currently producing. If no production decline trend had been established, future production rates were held constant, or adjusted for the effects of curtailment where appropriate, until a decline in ability to produce was anticipated. An estimated rate of decline was then applied to depletion of the reserves. If a decline trend has been established, this trend was used as the basis for estimating future production rates. For reserves not yet on production, sales were estimated to commence at an anticipated date furnished by Tengasco.
The future production rates from wells now on production may be more or less than estimated because of changes in market demand or allowables set by regulatory bodies. Wells or locations that are not currently producing may start producing earlier or later than anticipated in our estimates of their future production rates.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 4
HYDROCARBON PRICES
Tengasco furnished us with hydrocarbon prices in effect at December 31, 2002 and with its forecasts of future prices which take into account SEC and Financial Accounting Standards Board (FASB) rules, current market prices, contract prices, and fixed and determinable price escalations where applicable. The hydrocarbon prices utilized in this study were $27.29 per barrel and $4.13 per Mcf for the properties located in the state of Kansas and $26.90 per barrel and $4.22 per Mcf for the properties located in the state of Tennessee.
In accordance with FASB Statement No. 69, December 31, 2002 market prices were determined using the daily oil price or daily gas sales price ("spot price") adjusted for oilfield or gas gathering hub and wellhead price differences (e.g. grade, transportation, gravity, sulfur and BS&W) as appropriate. Also in accordance with SEC and FASB specifications, changes in market prices subsequent to December 31, 2002 were not considered in this report.
COSTS
Operating costs for the leases and wells in this report are based on the operating expense reports of Tengasco and include only those costs directly applicable to the leases or wells. When applicable, the operating costs include a portion of general and administrative costs allocated directly to the leases and wells under terms of operating agreements. No deduction was made for indirect costs such as general administration and overhead expenses, loan repayments, interest expenses, and exploration and development prepayments that were not charged directly to the leases or wells.
Development costs were furnished to us by Tengasco and are based on authorizations for expenditure for the proposed work or actual costs for similar projects. At the request of Tengasco, their estimate of zero abandonment costs after salvage value was used in this report. Ryder Scott has not performed a detailed study of the abandonment costs or the salvage value and makes no warranty for Tengasco's estimate.
Current costs were held constant throughout the life of the properties.
GENERAL
Table A presents a one line summary of proved reserve and income data for each of the subject properties which are ranked according to their future net income discounted at 10 percent per year. Table B presents a one line summary of gross and net reserves and income data for each of the subject properties. Table C presents a one line summary of initial basic data for each of the subject properties. Tables 1 through 331 present our estimated projection of production and income by years beginning December 31, 2002, by state, field, and lease or well.
While it may reasonably be anticipated that the future prices received for the sale of production and the operating costs and other costs relating to such production may also increase or decrease from existing levels, such changes were, in accordance with rules adopted by the SEC, omitted from consideration in making this evaluation.
The estimates of reserves presented herein were based upon a detailed study of the properties in which Tengasco owns an interest; however, we have not made any field examination of the properties. No consideration was given in this report to potential environmental liabilities that may exist
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 5
nor were any costs included for potential liability to restore and clean up damages, if any, caused by past operating practices. Tengasco has informed us that they have furnished us all of the accounts, records, geological and engineering data, and reports and other data required for this investigation. The ownership interests, prices, and other factual data furnished by Tengasco were accepted without independent verification. The estimates presented in this report are based on data available through December 2002.
Tengasco has assured us of their intent and ability to proceed with the development activities included in this report, and that they are not aware of any legal, regulatory or political obstacles that would significantly alter their plans.
Neither we nor any of our employees have any interest in the subject properties and neither the employment to make this study nor the compensation is contingent on our estimates of reserves and future income for the subject properties.
This report was prepared for the exclusive use and sole benefit of Tengasco, Inc. The data, work papers, and maps used in this report are available for examination by authorized parties in our offices. Please contact us if we can be of further service.
Very truly yours,
RYDER SCOTT COMPANY, L.P.

                                              /s/ C. Patrick McInturff

                                              C. Patrick McInturff, P.E.
                                              Vice President
CPM/sw	

RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
SECURITIES AND EXCHANGE COMMISSION
INTRODUCTION
Reserves are those quantities of petroleum which are anticipated to be commercially recovered from known accumulations from a given date forward. All reserve estimates involve some degree of uncertainty. The uncertainty depends chiefly on the amount of reliable geologic and engineering data available at the time of the estimate and the interpretation of these data. The relative degree of uncertainty may be conveyed by placing reserves into one of two principal classifications, either proved or unproved. Unproved reserves are less certain to be recovered than proved reserves and may be further sub-classified as probable and possible reserves to denote progressively increasing uncertainty in their recoverability. It should be noted that Securities and Exchange Commission Regulation S-K prohibits the disclosure of estimated quantities of probable or possible reserves of oil and gas and any estimated value thereof in any documents publicly filed with the Commission.
Reserves estimates will generally be revised as additional geologic or engineering data become available or as economic conditions change. Reserves do not include quantities of petroleum being held in inventory, and may be reduced for usage or processing losses if required for financial reporting.
Reserves may be attributed to either natural energy or improved recovery methods. Improved recovery methods include all methods for supplementing natural energy or altering natural forces in the reservoir to increase ultimate recovery. Examples of such methods are pressure maintenance, cycling, waterflooding, thermal methods, chemical flooding, and the use of miscible and immiscible displacement fluids. Other improved recovery methods may be developed in the future as petroleum technology continues to evolve.
PROVED RESERVES (SEC DEFINITIONS)
Securities and Exchange Commission Regulation S-X Rule 4-10 paragraph
(a) defines proved reserves as follows:
PROVED OIL AND GAS RESERVES. PROVED OIL AND GAS RESERVES ARE THE ESTIMATED QUANTITIES OF CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS WHICH GEOLOGICAL AND ENGINEERING DATA DEMONSTRATE WITH REASONABLE CERTAINTY TO BE RECOVERABLE IN FUTURE YEARS FROM KNOWN RESERVOIRS UNDER EXISTING ECONOMIC AND OPERATING CONDITIONS, I.E., PRICES AND COSTS AS OF THE DATE THE ESTIMATE IS MADE. PRICES INCLUDE CONSIDERATION OF CHANGES IN EXISTING PRICES PROVIDED ONLY BY CONTRACTUAL ARRANGEMENTS, BUT NOT ON ESCALATIONS BASED UPON FUTURE CONDITIONS.
(I) RESERVOIRS ARE CONSIDERED PROVED IF ECONOMIC PRODUCIBILITY IS SUPPORTED BY EITHER ACTUAL PRODUCTION OR CONCLUSIVE FORMATION TEST. THE AREA OF A RESERVOIR CONSIDERED PROVED INCLUDES:
(A) THAT PORTION DELINEATED BY DRILLING AND DEFINED BY GAS-OIL 
AND/OR OIL-WATER CONTACTS, IF ANY; AND
(B) THE IMMEDIATELY ADJOINING PORTIONS NOT YET DRILLED, BUT WHICH CAN BE REASONABLY JUDGED AS ECONOMICALLY PRODUCTIVE ON THE BASIS OF AVAILABLE GEOLOGICAL AND ENGINEERING DATA. IN THE ABSENCE OF INFORMATION ON FLUID CONTACTS, THE LOWEST KNOWN STRUCTURAL OCCURRENCE OF HYDROCARBONS CONTROLS THE LOWER PROVED LIMIT OF THE RESERVOIR.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 2
(II) RESERVES WHICH CAN BE PRODUCED ECONOMICALLY THROUGH APPLICATION OF IMPROVED RECOVERY TECHNIQUES (SUCH AS FLUID INJECTION) ARE INCLUDED IN THE "PROVED" CLASSIFICATION WHEN SUCCESSFUL TESTING BY A PILOT PROJECT, OR THE OPERATION OF AN INSTALLED PROGRAM IN THE RESERVOIR, PROVIDES SUPPORT FOR THE ENGINEERING ANALYSIS ON WHICH THE PROJECT OR PROGRAM WAS BASED.
(III) ESTIMATES OF PROVED RESERVES DO NOT INCLUDE THE FOLLOWING:
(A) OIL THAT MAY BECOME AVAILABLE FROM KNOWN RESERVOIRS BUT IS 
CLASSIFIED SEPARATELY AS "INDICATED ADDITIONAL RESERVES";
(B) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THE RECOVERY OF WHICH IS SUBJECT TO REASONABLE DOUBT BECAUSE OF UNCERTAINTY AS TO GEOLOGY, RESERVOIR CHARACTERISTICS, OR ECONOMIC FACTORS;
(C) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THAT MAY OCCUR IN UNDRILLED PROSPECTS; AND
(D) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THAT MAY BE 
RECOVERED FROM OIL SHALES, COAL, GILSONITE AND OTHER SUCH SOURCES.
PROVED DEVELOPED OIL AND GAS RESERVES. PROVED DEVELOPED OIL AND GAS RESERVES ARE RESERVES THAT CAN BE EXPECTED TO BE RECOVERED THROUGH EXISTING WELLS WITH EXISTING EQUIPMENT AND OPERATING METHODS. ADDITIONAL OIL AND GAS EXPECTED TO BE OBTAINED THROUGH THE APPLICATION OF FLUID INJECTION OR OTHER IMPROVED RECOVERY TECHNIQUES FOR SUPPLEMENTING THE NATURAL FORCES AND MECHANISMS OF PRIMARY RECOVERY SHOULD BE INCLUDED AS "PROVED DEVELOPED RESERVES" ONLY AFTER TESTING BY A PILOT PROJECT OR AFTER THE OPERATION OF AN INSTALLED PROGRAM HAS CONFIRMED THROUGH PRODUCTION RESPONSE THAT INCREASED RECOVERY WILL BE ACHIEVED.
PROVED UNDEVELOPED RESERVES. PROVED UNDEVELOPED OIL AND GAS RESERVES ARE RESERVES THAT ARE EXPECTED TO BE RECOVERED FROM NEW WELLS ON UNDRILLED ACREAGE, OR FROM EXISTING WELLS WHERE A RELATIVELY MAJOR EXPENDITURE IS REQUIRED FOR RECOMPLETION. RESERVES ON UNDRILLED ACREAGE SHALL BE LIMITED TO THOSE DRILLING UNITS OFFSETTING PRODUCTIVE UNITS THAT ARE REASONABLY CERTAIN OF PRODUCTION WHEN DRILLED. PROVED RESERVES FOR OTHER UNDRILLED UNITS CAN BE CLAIMED ONLY WHERE IT CAN BE DEMONSTRATED WITH CERTAINTY THAT THERE IS CONTINUITY OF PRODUCTION FROM THE EXISTING PRODUCTIVE FORMATION. UNDER NO CIRCUMSTANCES SHOULD ESTIMATES FOR PROVED UNDEVELOPED RESERVES BE ATTRIBUTABLE TO ANY ACREAGE FOR WHICH AN APPLICATION OF FLUID INJECTION OR OTHER IMPROVED RECOVERY TECHNIQUE IS CONTEMPLATED, UNLESS SUCH TECHNIQUES HAVE BEEN PROVED EFFECTIVE BY ACTUAL TESTS IN THE AREA AND IN THE SAME RESERVOIR.
Certain Staff Accounting Bulletins published subsequent to the promulgation of Regulation S-X have dealt with matters relating to the application of financial accounting and disclosure rules for oil and gas producing activities. In particular, the following interpretations extracted from Staff Accounting Bulletins set forth the Commission staff's view on specific questions pertaining to proved oil and gas reserves.
ECONOMIC PRODUCIBILITY OF ESTIMATED PROVED RESERVES CAN BE SUPPORTED TO THE SATISFACTION OF THE OFFICE OF ENGINEERING IF GEOLOGICAL AND ENGINEERING DATA DEMONSTRATE WITH REASONABLE CERTAINTY THAT THOSE RESERVES CAN BE RECOVERED IN FUTURE YEARS UNDER EXISTING ECONOMIC AND OPERATING CONDITIONS. THE RELATIVE IMPORTANCE OF THE MANY PIECES OF GEOLOGICAL AND ENGINEERING DATA WHICH SHOULD BE EVALUATED WHEN CLASSIFYING RESERVES CANNOT BE IDENTIFIED IN ADVANCE. IN CERTAIN INSTANCES, PROVED RESERVES MAY BE ASSIGNED TO RESERVOIRS ON THE BASIS OF A COMBINATION OF ELECTRICAL AND OTHER TYPE LOGS AND CORE ANALYSES WHICH INDICATE THE RESERVOIRS ARE ANALOGOUS TO SIMILAR RESERVOIRS IN THE SAME FIELD
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 3
WHICH ARE PRODUCING OR HAVE DEMONSTRATED THE ABILITY TO PRODUCE ON A FORMATION TEST. (EXTRACTED FROM SAB-35)
IN DETERMINING WHETHER "PROVED UNDEVELOPED RESERVES" ENCOMPASS ACREAGE ON WHICH FLUID INJECTION (OR OTHER IMPROVED RECOVERY TECHNIQUE) IS CONTEMPLATED, IS IT APPROPRIATE TO DISTINGUISH BETWEEN (I) FLUID INJECTION USED FOR PRESSURE MAINTENANCE DURING THE EARLY LIFE OF A FIELD AND (II) FLUID INJECTION USED TO EFFECT SECONDARY RECOVERY WHEN A FIELD IS IN THE LATE STAGES OF DEPLETION? ... THE OFFICE OF ENGINEERING BELIEVES THAT THE DISTINCTION IDENTIFIED IN THE ABOVE QUESTION MAY BE APPROPRIATE IN A FEW LIMITED CIRCUMSTANCES, SUCH AS IN THE CASE OF CERTAIN FIELDS IN THE NORTH SEA. THE STAFF WILL REVIEW ESTIMATES OF PROVED RESERVES ATTRIBUTABLE TO FLUID INJECTION IN THE LIGHT OF THE STRENGTH OF THE EVIDENCE PRESENTED BY THE REGISTRANT IN SUPPORT OF A CONTENTION THAT ENHANCED RECOVERY WILL BE ACHIEVED. (EXTRACTED FROM SAB-35)
COMPANIES SHOULD REPORT RESERVES OF NATURAL GAS LIQUIDS WHICH ARE NET TO THEIR LEASEHOLD INTEREST, I.E., THAT PORTION RECOVERED IN A PROCESSING PLANT AND ALLOCATED TO THE LEASEHOLD INTEREST. IT MAY BE APPROPRIATE IN THE CASE OF NATURAL GAS LIQUIDS NOT CLEARLY ATTRIBUTABLE TO LEASEHOLD INTERESTS OWNERSHIP TO FOLLOW INSTRUCTION (B) OF ITEM 2(B)(3) OF REGULATION S-K AND REPORT SUCH RESERVES SEPARATELY AND DESCRIBE THE NATURE OF THE OWNERSHIP. (EXTRACTED FROM
SAB-35)
THE STAFF BELIEVES THAT SINCE COALBED METHANE GAS CAN BE RECOVERED FROM COAL IN ITS NATURAL AND ORIGINAL LOCATION, IT SHOULD BE INCLUDED IN PROVED RESERVES, PROVIDED THAT IT COMPLIES IN ALL OTHER RESPECTS WITH THE DEFINITION OF PROVED OIL AND GAS RESERVES AS SPECIFIED IN RULE 4-10(A)(2) INCLUDING THE REQUIREMENT THAT METHANE PRODUCTION BE ECONOMICAL AT CURRENT PRICES, COSTS, (NET OF THE TAX CREDIT) AND EXISTING OPERATING CONDITIONS. (EXTRACTED FROM SAB-85)
Statements in Staff Accounting Bulletins are not rules or interpretations of the Commission nor are they published as bearing the Commission's official approval; they represent interpretations and practices followed by the Division of Corporation Finance and the Office of the Chief Accountant in administering the disclosure requirements of the Federal securities laws.
SUB-CATEGORIZATION OF DEVELOPED RESERVES (SPE/WPC DEFINITIONS)
In accordance with guidelines adopted by the Society of Petroleum Engineers (SPE) and the World Petroleum Congress (WPC), developed reserves may be sub-categorized as producing or non-producing.
PRODUCING. Reserves sub-categorized as producing are expected to be recovered from completion intervals which are open and producing at the time of the estimate. Improved recovery reserves are considered producing only after the improved recovery project is in operation.
NON-PRODUCING. Reserves sub-categorized as non-producing include shut-in and behind pipe reserves. Shut-in reserves are expected to be recovered from (1) completion intervals which are open at the time of the estimate but which have not started producing, (2) wells which were shut-in awaiting pipeline connections or as a result of a market interruption, or (3) wells not capable of production for mechanical reasons. Behind pipe reserves are expected to be recovered from zones in existing wells, which will require additional completion work or future recompletion prior to the start of production.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 4
UNPROVED RESERVES (SPE/WPC DEFINITIONS)
Unproved reserves are based on geologic and/or engineering data similar to that used in estimates of proved reserves; but technical, contractual, economic, or regulatory uncertainties preclude such reserves being classified as proved. Unproved reserves may be further classified as probable reserves and possible reserves.
Unproved reserves may be estimated assuming future economic conditions different from those prevailing at the time of the estimate. The effect of possible future improvements in economic conditions and technological developments can be expressed by allocating appropriate quantities of reserves to the probable and possible classifications.
PROBABLE RESERVES. Probable reserves are those unproved reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable. In this context, when probabilistic methods are used, there should be at least a 50 percent probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable reserves.
In general, probable reserves may include (1) reserves anticipated to be proved by normal step-out drilling where sub-surface control is inadequate to classify these reserves as proved, (2) reserves in formations that appear to be productive based on well log characteristics but lack core data or definitive tests and which are not analogous to producing or proved reserves in the area,
(3) incremental reserves attributable to infill drilling that could have been classified as proved if closer statutory spacing had been approved at the time of the estimate, (4) reserves attributable to improved recovery methods that have been established by repeated commercially successful applications when (a) a project or pilot is planned but not in operation and (b) rock, fluid, and reservoir characteristics appear favorable for commercial application, (5) reserves in an area of the formation that appears to be separated from the proved area by faulting and the geologic interpretation indicates the subject area is structurally higher than the proved area, (6) reserves attributable to a future workover, treatment, re-treatment, change of equipment, or other mechanical procedures, where such procedure has not been proved successful in wells which exhibit similar behavior in analogous reservoirs, and (7) incremental reserves in proved reservoirs where an alternative interpretation of performance or volumetric data indicates more reserves than can be classified as proved.
POSSIBLE RESERVES. Possible reserves are those unproved reserves which analysis of geological and engineering data suggests are less likely to be recoverable than probable reserves. In this context, when probabilistic methods are used, there should be at least a 10 percent probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable plus possible reserves.
In general, possible reserves may include (1) reserves which, based on geological interpretations, could possibly exist beyond areas classified as probable, (2) reserves in formations that appear to be petroleum bearing based on log and core analysis but may not be productive at commercial rates, (3) incremental reserves attributed to infill drilling that are subject to technical uncertainty, (4) reserves attributed to improved recovery methods when (a) a project or pilot is planned but not in operation and (b) rock, fluid, and reservoir characteristics are such that a reasonable doubt exists that the project will be commercial, and (5) reserves in an area of the formation that appears to be separated from the proved area by faulting and geological interpretation indicates the subject area is structurally lower than the proved area.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
TENGASCO, INC.
TABLE OF CONTENTS
DISCUSSION
PETROLEUM RESERVES DEFINITIONS

                                                                     TABLE NO.
                                                                     ---------

PROPERTY RANKING   --------------------------------------------------      A

SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA   ------------------      B

SUMMARY OF INITIAL BASIC DATA   -------------------------------------      C

GRAND SUMMARIES
   TOTAL PROVED ALL CATEGORIES   ------------------------------------      1
   PROVED PRODUCING   -----------------------------------------------      2
   PROVED SHUT-IN   -------------------------------------------------      3
   PROVED BEHIND PIPE   ---------------------------------------------      4
   PROVED UNDEVELOPED   ---------------------------------------------      5
   TOTAL PROBABLE ALL CATEGORIES   ----------------------------------      6
   PROBABLE BEHIND PIPE   -------------------------------------------      7
   PROBABLE UNDEVELOPED   -------------------------------------------      8
   TOTAL POSSIBLE UNDEVELOPED   -------------------------------------      9

STATE SUMMARIES - STATE OF KANSAS
   TOTAL PROVED ALL CATEGORIES   ------------------------------------     10
   PROVED PRODUCING   -----------------------------------------------     11
   PROVED BEHIND PIPE   ---------------------------------------------     12
   PROVED UNDEVELOPED   ---------------------------------------------     13
   TOTAL PROBABLE UNDEVELOPED   -------------------------------------     14

ARPIN SOUTH FIELD, ROOKS CO., KANSAS
   THYFAULT #1 - PROVED PRODUCING   ---------------------------------     15

ASH CREEK FIELD, BARTON CO., KANSAS
   UNRUH #2 - PROVED PRODUCING   ------------------------------------     16

AXELSON FIELD, ROOKS CO., KANSAS
   AXELSON LEASE - PROVED PRODUCING   -------------------------------     17

BEISEL FIELD, RUSSELL CO., KANSAS
   BEISEL LEASE - PROVED PRODUCING   --------------------------------     18
   BEISEL #9 PUD - PROVED UNDEVELOPED   -----------------------------     19	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------
BIELMAN FIELD, ELLIS CO., KANSAS
   GRASS #5 - PROVED PRODUCING   ------------------------------------     20

CARPENTER FIELD, EDWARDS CO., KANSAS
   HENNING #1 - PROVED PRODUCING   ----------------------------------     21

CARROLL FIELD, BARTON CO., KANSAS
   KEENAN -B- LEASE - PROVED PRODUCING   ----------------------------     22

CENTERVIEW FIELD, STAFFORD CO., KANSAS
   BECKERDITE #1 - PROVED PRODUCING   -------------------------------     23

CHASE-SILICA FIELD, BARTON CO., KANSAS
   LANDER #1 - PROVED PRODUCING  ------------------------------------     24
   LANDER #3 PBUD - PROBABLE UNDEVELOPED ----------------------------     25
   ROSE LEASE - PROVED PRODUCING ------------------------------------     26

CHEYENNE FIELD, BARTON CO., KANSAS
   HAMMEKE #1 - PROVED PRODUCING   ----------------------------------     27

CONVERSE FIELD, BARTON CO., KANSAS
   IANNITTI LEASE - PROVED PRODUCING   ------------------------------     28
   IANNITTI #9 PUD - PROVED UNDEVELOPED   ---------------------------     29

COOPER FIELD, GRAHAM CO., KANSAS
   DEYOUNG LEASE - PROVED PRODUCING   -------------------------------     30
   LEWIS LEASE - PROVED PRODUCING   ---------------------------------     31

DAVIDSON FIELD, RUSSELL CO., KANSAS
   FOSTER LEASE - PROVED PRODUCING   --------------------------------     32

DISTRICT 57 FIELD, ELLIS CO., KANSAS
   FLAX #1 - PROVED PRODUCING   -------------------------------------     33

DUNES NORTH FIELD, PAWNEE CO., KANSAS
   BARSTOW #1 - PROVED PRODUCING   ----------------------------------     34
   LOVETT #1 - PROVED PRODUCING   -----------------------------------     35

ELLIS NW FIELD, TREGO CO., KANSAS
   BAUGHER #1 - PROVED PRODUCING   ----------------------------------     36

FICKEN FIELD, RUSH CO., KANSAS
   SCHWINDT FARMS #1 - PROVED PRODUCING   ---------------------------     37

GATES NORTH FIELD, STAFFORD CO., KANSAS
   HOFFMAN #1 - PROVED PRODUCING   ----------------------------------     38	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------
GATES NORTH FIELD, STAFFORD CO., KANSAS (CONT'D)
   SCHULZ LEASE - PROVED PRODUCING   --------------------------------     39

GIESICK FIELD, RUSH CO., KANSAS
   GIESICK #2 - PROVED PRODUCING   ----------------------------------     40

GOTTSCHALK FIELD, ELLIS CO., KANSAS
   WERTH #1 - PROVED PRODUCING   ------------------------------------     41

HERMAN FIELD, BARTON CO., KANSAS
   H. KARST LEASE - PROVED PRODUCING   ------------------------------     42

HOBROCK FIELD, OSBORNE CO., KANSAS
   HOBROCK #4 - PROVED PRODUCING   ----------------------------------     43
   HOGAN LEASE - PROVED PRODUCING   ---------------------------------     44

IRVIN FIELD, ELLIS CO., KANSAS
   KINDERKNECHT -B- LEASE - PROVED PRODUCING   ----------------------     45

KRAUS FIELD, ELLIS CO., KANSAS
   KRAUS -A- LEASE - PROVED PRODUCING   -----------------------------     46
   KRAUS -B- LEASE - PROVED PRODUCING   -----------------------------     47
   KRAUS -I- LEASE - PROVED PRODUCING   -----------------------------     48

LEIKER EAST FIELD, ELLIS CO., KANSAS
   LEIKER #1 - PROVED PRODUCING   -----------------------------------     49

LEONHARDT SOUTHEAST FIELD, ELLIS CO., KANSAS
   KRAUS LEASE - PROVED PRODUCING   ---------------------------------     50

LIEBENTHAL FIELD, RUSH CO., KANSAS
   DECHANT -B- #2 - PROVED PRODUCING  -------------------------------     51
   GRAHAM #1 - PROVED PRODUCING -------------------------------------     52
   LEGLEITER -B- #1 - PROVED PRODUCING ------------------------------     53
   LEGLEITER -C- #1 - PROVED PRODUCING ------------------------------     54
   LEGLEITER -C- #2 - PROVED PRODUCING ------------------------------     55

LITTLE RIO FIELD, RICE CO., KANSAS
   WHITEMAN-HOLLAND LEASE - PROVED PRODUCING   ----------------------     56

MARCOTTE FIELD, ROOKS CO., KANSAS
   CROFFOOT LEASE - PROVED PRODUCING   ------------------------------     57
   CROFFOOT -A- LEASE - PROVED PRODUCING   --------------------------     58
   CROFFOOT -B- LEASE - PROVED PRODUCING   --------------------------     59
   CROFFOOT -C- LEASE - PROVED PRODUCING   --------------------------     60
   DICK LEASE - PROVED PRODUCING   ----------------------------------     61	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------

MCHALE FIELD, ROOKS CO., KANSAS
   HARRISON -A- LEASE - PROVED PRODUCING   --------------------------     62
   HILGERS -B- LEASE - PROVED PRODUCING   ---------------------------     63
   KABA #2 - PROVED PRODUCING   -------------------------------------     64

OMLOR FIELD, STAFFORD CO., KANSAS
   MILLER #1 - PROVED PRODUCING   -----------------------------------     65
   WILLIAMS #1 - PROVED PRODUCING   ---------------------------------     66

OTIS-ALBERT FIELD, RUSH CO., KANSAS
   HARTMAN -C- #1 - PROVED PRODUCING   ------------------------------     67

PARADISE CREEK FIELD, ROOKS CO., KANSAS
   STAHL LEASE - PROVED PRODUCING   ---------------------------------     68
   STAHL #7 PUD - PROVED UNDEVELOPED   ------------------------------     69

PAWNEE ROCK FIELD, PAWNEE CO., KANSAS
   O'SCHULTZ #1 - PROVED PRODUCING  ---------------------------------     70
   OETKIN LEASE - PROVED PRODUCING ----------------------------------     71
   OETKIN #8 PBUD - PROBABLE UNDEVELOPED ----------------------------     72

PLAINVILLE FIELD, ROOKS CO., KANSAS
   ANDERSON -A- #1 - PROVED PRODUCING   -----------------------------     73
   BARDOT #1 - PROVED PRODUCING   -----------------------------------     74
   GARVERT -A- #1 - PROVED PRODUCING   ------------------------------     75
   GARVERT -B- #1 - PROVED PRODUCING   ------------------------------     76
   HARRISON -C- LEASE - PROVED PRODUCING   --------------------------     77
   JACO LEASE - PROVED PRODUCING   ----------------------------------     78
   ROSS LEASE - PROVED PRODUCING   ----------------------------------     79

PLEASANT FIELD, RUSH CO., KANSAS
   BASGALL -C- #4 - PROVED PRODUCING   ------------------------------     80

PLEASANT FIELD, ELLIS CO., KANSAS
   HONAS #3 - PROVED PRODUCING   ------------------------------------     81

PLEASANT VIEW FIELD, RUSH CO., KANSAS
   URBAN -K- #5 - PROVED PRODUCING   --------------------------------     82
   URBAN -K- #5 BP - PROVED BEHIND PIPE   ---------------------------     83

PLEASANT VIEW NW FIELD, RUSH CO., KANSAS
   URBAN #1, 2 & 5 - PROVED PRODUCING -------------------------------     84
   URBAN #6 PUD - PROVED UNDEVELOPED --------------------------------     85
   URBAN #7 PUD - PROVED UNDEVELOPED --------------------------------     86	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------

REICHEL FIELD, RUSH CO., KANSAS
   ALLEN #1 A&D - PROVED PRODUCING   --------------------------------     87
   ANDRE #1 - PROVED PRODUCING   ------------------------------------     88
   APPL #1 - PROVED PRODUCING   -------------------------------------     89
   APPL #2 - PROVED PRODUCING   -------------------------------------     90
   BEAHM #1 - PROVED PRODUCING   ------------------------------------     91
   BIEBER #1 - PROVED PRODUCING   -----------------------------------     92
   BIEBER -A- #1 - PROVED PRODUCING   -------------------------------     93
   BRACK -A- #3 - PROVED PRODUCING   --------------------------------     94
   BREIT #1 - PROVED PRODUCING   ------------------------------------     95
   BREIT-HOLZMEISTER -B- - PROVED PRODUCING   -----------------------     96
   DECKER -A- #1 - PROVED PRODUCING   -------------------------------     97
   EDWARDS #1 - PROVED PRODUCING   ----------------------------------     98
   ELDER #19 - PROVED PRODUCING   -----------------------------------     99
   FOOS #1 - PROVED PRODUCING   -------------------------------------    100
   FOOS -A- #1 - PROVED PRODUCING   ---------------------------------    101
   FRYE #2 - PROVED PRODUCING   -------------------------------------    102
   GIESICK #1 - PROVED PRODUCING   ----------------------------------    103
   GILLIG #1 - PROVED PRODUCING   -----------------------------------    104
   GRUMBEIN -A- #1 - PROVED PRODUCING   -----------------------------    105
   HANHARDT #1 - PROVED PRODUCING   ---------------------------------    106
   HANHARDT -A- #1 - PROVED PRODUCING   -----------------------------    107
   HANHARDT -A- #1BP - PROVED BEHIND PIPE   -------------------------    108
   HOFFMAN #3 - PROVED PRODUCING   ----------------------------------    109
   HOLZMEISTER #1 - PROVED PRODUCING   ------------------------------    110
   HOLZMEISTER -A- #1 - PROVED PRODUCING   --------------------------    111
   HOLZMEISTER -B- #1 - PROVED PRODUCING   --------------------------    112
   HONDERICK -C- #1 - PROVED PRODUCING   ----------------------------    113
   HOOFER #1 - PROVED PRODUCING   -----------------------------------    114
   JANSON -A- #2 - PROVED PRODUCING   -------------------------------    115
   KAISER #2 - PROVED PRODUCING   -----------------------------------    116
   KAISER -A- #1 - PROVED PRODUCING   -------------------------------    117
   KLEWENO #1-21 - PROVED PRODUCING   -------------------------------    118
   KLEWENO -A- #1 - PROVED PRODUCING   ------------------------------    119
   KOBER #1 - PROVED PRODUCING   ------------------------------------    120
   LEBSACK -A- #1 - PROVED PRODUCING   ------------------------------    121
   LIPPERT #2 - PROVED PRODUCING   ----------------------------------    122
   LIPPERT #3 - PROVED PRODUCING   ----------------------------------    123
   LIPPERT #3 BP - PROVED BEHIND PIPE   -----------------------------    124
   LIPPERT -B- #1 - PROVED PRODUCING   ------------------------------    125
   LIPPERT -B- #2 - PROVED PRODUCING   ------------------------------    126
   LIPPERT -C- #1 - PROVED PRODUCING   ------------------------------    127	

MCGILL #2 - PROVED PRODUCING ----------------------------------- 128
O'DELL #1 - PROVED PRODUCING ----------------------------------- 129
 
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------
REICHEL FIELD, RUSH CO., KANSAS (CONT'D)
   OCHS -A- #1 - PROVED PRODUCING   ---------------------------------    130
   PFEIFER -B- #1 - PROVED PRODUCING   ------------------------------    131
   RAU #1 - PROVED PRODUCING   --------------------------------------    132
   REICHEL #1 - PROVED PRODUCING   ----------------------------------    133
   ROTHE #1-31 - PROVED PRODUCING   ---------------------------------    134
   ROTHE, R. #1 - PROVED PRODUCING   --------------------------------    135
   SCHEUERMAN #56 - PROVED PRODUCING   ------------------------------    136
   SCHLITTER #2 - PROVED PRODUCING   --------------------------------    137
   SCHNEIDER #1 - PROVED PRODUCING   --------------------------------    138
   SHERWOOD #1 - PROVED PRODUCING   ---------------------------------    139
   STEITZ -A- #1 - PROVED PRODUCING   -------------------------------    140
   STEITZ -B- #1 - PROVED PRODUCING   -------------------------------    141
   THIELENHAUS #1 - PROVED PRODUCING   ------------------------------    142
   THIELENHAUS #1 BP - PROVED BEHIND PIPE   -------------------------    143
   TORREY #2 - PROVED PRODUCING   -----------------------------------    144
   URBAN R & A #1 - PROVED PRODUCING   ------------------------------    145

REICHEL EAST FIELD, RUSH CO., KANSAS
   BAHR #1 - PROVED PRODUCING   -------------------------------------    146

REICHEL WEST FIELD, RUSH CO., KANSAS
   LEGLEITER  -A-  #1-1  -  PROVED  PRODUCING   ---------------------    147
   LEGLEITER -A- #1-2 - PROVED PRODUCING ----------------------------    148
   MUTH #1 & 2 - PROVED PRODUCING -----------------------------------    149

RIDGEWAY SOUTH FIELD, TREGO CO., KANSAS
   SCHOENTHALER #3 - PROVED PRODUCING   -----------------------------    150	

RIGA NORTHEAST FIELD, TREGO CO., KANSAS
KELLER LEASE - PROVED PRODUCING -------------------------------- 151
KELLER -A- LEASE - PROVED PRODUCING ---------------------------- 152

RUGGELS WEST FIELD, OSBORNE CO., KANSAS
   MAIER #1 - PROVED PRODUCING  -------------------------------------    153
   MAIER #1 BP - PROVED BEHIND PIPE ---------------------------------    154

SANDFORD FIELD, BARTON CO., KANSAS
   BEN TEMPERO #1 - PROVED PRODUCING   ------------------------------    155
   BEN TEMPERO #5 PUD - PROVED UNDEVELOPED   ------------------------    156

SCHWINDT FIELD, RUSH CO., KANSAS
   JACOBS -B- #3 - PROVED PRODUCING   -------------------------------    157

SPRING CREEK FIELD, TREGO CO., KANSAS
   RIDGWAY #1 - PROVED PRODUCING   ----------------------------------    158	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------

STOCKTON FIELD, ROOKS CO., KANSAS
   HINDMAN  #1  -  PROVED  PRODUCING   ------------------------------    159
   STEBBINS #1 - PROVED PRODUCING  ----------------------------------    160
   WATTS #1 - PROVED PRODUCING --------------------------------------    161

STREMEL FIELD, RUSH CO., KANSAS
   OCHS #1 & 3 - PROVED PRODUCING  ----------------------------------    162
   URBAN -D- LEASE - PROVED PRODUCING -------------------------------    163

THACKER FIELD, RUSSELL CO., KANSAS
   THACKER #2 - PROVED PRODUCING   ----------------------------------    164

TRAPP FIELD, BARTON CO., KANSAS
   DEUTSCH - PROVED PRODUCING ---------------------------------------    165
   HOWLIER #1 - PROVED PRODUCING ------------------------------------    166

WEBSTER FIELD, ROOKS CO., KANSAS
   CERROW-CERROW -A- #1 - PROVED PRODUCING  -------------------------    167
   LOWRY #1 - PROVED PRODUCING --------------------------------------    168

WERTH NORTH FIELD, ELLIS CO., KANSAS
   SCHNELLER LEASE - PROVED PRODUCING   -----------------------------    169

WESTHUSIN FIELD, ROOKS CO., KANSAS
   DOUGHERTY  EAST  #1  -  PROVED  PRODUCING   ----------------------    170
   DOUGHERTY  EAST  #1  BP -  PROVED  BEHIND  PIPE  -----------------    171
   DOUGHERTY EAST #2 PUD - PROVED UNDEVELOPED -----------------------    172

YOHE FIELD, ROOKS CO., KANSAS
   FINNESY LEASE - PROVED PRODUCING   -------------------------------    173
   MOSHER LEASE - PROVED PRODUCING   --------------------------------    174

ALL FIELDS, RUSH CO., KANSAS
   OTIS COMPRESSOR STATION - PROVED PRODUCING   ---------------------    175

VARIOUS FIELD, ALL CO., KANSAS
   KANSAS FIXED COSTS 1PDP - PROVED PRODUCING   ---------------------    176
   KANSAS FIXED COSTS 2PBP - PROVED BEHIND PIPE   -------------------    177
   KANSAS FIXED COSTS 3PUD - PROVED UNDEVELOPED   -------------------    178	

STATE SUMMARIES - STATE OF TENNESSEE
TOTAL PROVED ALL CATEGORIES ------------------------------------ 179 PROVED PRODUCING ----------------------------------------------- 180 PROVED SHUT-IN ------------------------------------------------- 181
 
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
 STATE SUMMARIES - STATE OF TENNESSEE (CONT'D)
PROVED BEHIND PIPE --------------------------------------------- 182 PROVED UNDEVELOPED --------------------------------------------- 183 TOTAL PROBABLE BEHIND PIPE ------------------------------------- 184 TOTAL POSSIBLE UNDEVELOPED ------------------------------------- 185

SWAN CREEK FIELD, HANCOCK CO., TENNESSEE
   ANITA COLSON #1 - PROVED SHUT-IN   -------------------------------    186
   ANITA COLSON #1 BP - PROVED BEHIND PIPE   ------------------------    187
   ANITA COLSON #2 - PROVED PRODUCING   -----------------------------    188
   BOBBY YEARY #1 - PROVED PRODUCING   ------------------------------    189
   BOBBY YEARY #1BP - PROVED BEHIND PIPE   --------------------------    190
   BOBBY YEARY #2 - PROVED SHUT-IN   --------------------------------    191
   BOBBY YEARY #3 - PROVED SHUT-IN   --------------------------------    192
   CHERYL SMITH #1 - PROVED SHUT-IN   -------------------------------    193
   CHERYL SMITH #2 - PROVED UNDEVELOPED   ---------------------------    194
   CHEVRON REED #1 - PROVED SHUT-IN   -------------------------------    195
   D. SUTTON HEIRS #1 - PROVED PRODUCING   --------------------------    196
   D. SUTTON HEIRS #1 BP - PROVED BEHIND PIPE   ---------------------    197
   D. SUTTON HEIRS #3 - PROVED UNDEVELOPED   ------------------------    198
   DARNELL SUTTON #1 - PROVED PRODUCING   ---------------------------    199
   DEANNA CROSS #1 - PROVED SHUT-IN   -------------------------------    200
   DEANNA CROSS #1 BP - PROVED BEHIND PIPE   ------------------------    201
   DEWEY SUTTON #1 - PROVED SHUT-IN   -------------------------------    202
   DORIS HELTON #1 - PROVED PRODUCING   -----------------------------    203
   DORIS HELTON #1 BP1 - PROVED BEHIND PIPE   -----------------------    204
   DORIS HELTON #1 BP2 - PROVED BEHIND PIPE   -----------------------    205
   F. WELLS #1 - POSSIBLE UNDEVELOPED   -----------------------------    206
   FRED PORTRUM #1 - PROVED PRODUCING   -----------------------------    207
   FRED PORTRUM #2 - PROVED PRODUCING   -----------------------------    208
   GARY PATTON #2 - PROVED SHUT-IN   --------------------------------    209
   GARY PATTON #2 BP1 - PROVED BEHIND PIPE   ------------------------    210
   GARY PATTON #2 BP2 - PROVED BEHIND PIPE   ------------------------    211
   GUY TOBEY #1 - POSSIBLE UNDEVELOPED   ----------------------------    212
   HAZEL SUTTON #2 - PROVED PRODUCING   -----------------------------    213
   HUGH ROBERTS #1 - PROVED SHUT-IN   -------------------------------    214
   HUGH ROBERTS #1 BP - PROVED BEHIND PIPE   ------------------------    215
   JEFF JOHNSON #1 - PROVED PRODUCING   -----------------------------    216
   JEFF JOHNSON #2 - PROVED UNDEVELOPED   ---------------------------    217
   LANGE #1 - PROBABLE BEHIND PIPE   --------------------------------    218
   LANGE #1 BP - PROBABLE BEHIND PIPE   -----------------------------    219
   LAURA J. LAWSON #1 - PROVED PRODUCING   --------------------------    220
   LAURA J. LAWSON #2 - PROVED PRODUCING   --------------------------    221
   LAURA J. LAWSON #2 BP - PROVED BEHIND PIPE   ---------------------    222
   LAURA J. LAWSON #3 - PROVED PRODUCING   --------------------------    223
   LAURA J. LAWSON #4 - PROVED PRODUCING   --------------------------    224	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
   LAURA J. LAWSON #4 BP - PROVED BEHIND PIPE   ---------------------    225
   LAURA J. LAWSON #5 - PROVED SHUT-IN   ----------------------------    226
   PAUL REED #1 - PROVED PRODUCING   --------------------------------    227
   PAUL REED #2 - PROVED SHUT-IN   ----------------------------------    228
   PAUL REED #2 BP - PROVED BEHIND PIPE   ---------------------------    229
   PAUL REED #3 - PROVED PRODUCING   --------------------------------    230
   PAUL REED #3 BP1 - PROVED BEHIND PIPE   --------------------------    231
   PAUL REED #3 BP2 - PROVED BEHIND PIPE   --------------------------    232
   PAUL REED #4 - PROVED PRODUCING   --------------------------------    233
   PAUL REED #4 BP1 - PROVED BEHIND PIPE   --------------------------    234
   PAUL REED #4 BP2 - PROVED BEHIND PIPE   --------------------------    235
   PAUL REED #5 - PROVED PRODUCING   --------------------------------    236
   PAUL REED #6 - PROVED PRODUCING   --------------------------------    237
   PAUL REED #6 BP - PROVED BEHIND PIPE   ---------------------------    238
   PAUL REED #7 - PROVED PRODUCING   --------------------------------    239
   PAUL REED #7 BP1 - PROVED BEHIND PIPE   --------------------------    240
   PAUL REED #7 BP2 - PROVED BEHIND PIPE   --------------------------    241
   PAUL REED #8 - PROVED BEHIND PIPE   ------------------------------    242
   PAUL REED #8 BP - PROVED BEHIND PIPE   ---------------------------    243
   PAUL REED #9 - PROVED UNDEVELOPED   ------------------------------    244
   PURKEY #1 - PROVED PRODUCING   -----------------------------------    245
   PURKEY #2 - PROVED SHUT-IN   -------------------------------------    246
   PURKEY #3 - PROVED PRODUCING   -----------------------------------    247
   PURKEY #3 BP1 - PROVED BEHIND PIPE   -----------------------------    248
   PURKEY #3 BP2 - PROVED BEHIND PIPE   -----------------------------    249
   PURKEY #4 - PROVED UNDEVELOPED   ---------------------------------    250
   PURKEY #5 - PROVED UNDEVELOPED   ---------------------------------    251
   RAY DEAN HELTON #1 - PROVED PRODUCING   --------------------------    252
   RAY DEAN HELTON #1 BP - PROVED BEHIND PIPE   ---------------------    253
   RAY DEAN HELTON #2 - PROVED SHUT-IN   ----------------------------    254
   RAY DEAN HELTON #2 BP1 - PROVED BEHIND PIPE   --------------------    255
   RAY DEAN HELTON #2 BP2 - PROVED BEHIND PIPE   --------------------    256
   RAY DEAN HELTON #3 - PROVED SHUT-IN   ----------------------------    257
   RAY DEAN HELTON #4 - PROVED UNDEVELOPED   ------------------------    258
   RAY DEAN HELTON #6 - PROVED UNDEVELOPED   ------------------------    259
   ROSE #1 - PROVED SHUT-IN   ---------------------------------------    260
   STEPHEN LAWSON #1 - PROVED PRODUCING   ---------------------------    261
   STEPHEN LAWSON #2 - PROVED SHUT-IN   -----------------------------    262
   STEPHEN LAWSON #3 - PROVED PRODUCING   ---------------------------    263
   STEPHEN LAWSON #3 BP - PROVED BEHIND PIPE   ----------------------    264
   STEPHEN LAWSON #4 - PROVED PRODUCING   ---------------------------    265
   STEPHEN LAWSON #4 BP - PROVED BEHIND PIPE   ----------------------    266
   STEPHEN LAWSON #5 - PROVED PRODUCING   ---------------------------    267
   STEPHEN LAWSON #5 BP - PROVED BEHIND PIPE   ----------------------    268
   STEPHEN LAWSON #6 - PROVED UNDEVELOPED   -------------------------    269	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                     TABLE NO.
                                                                     ---------
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
   STEPHEN LAWSON #7 - PROVED UNDEVELOPED   -------------------------    270
   T.J. HARRISON #1 - PROVED SHUT-IN   ------------------------------    271
   WARREN REED #1 - PROVED SHUT-IN   --------------------------------    272
   WARREN REED #1 BP - PROVED BEHIND PIPE   -------------------------    273
   WARREN REED #2 - PROVED PRODUCING   ------------------------------    274
   WARREN REED #2 BP1 - PROVED BEHIND PIPE   ------------------------    275
   WARREN REED #2 BP2 - PROVED BEHIND PIPE   ------------------------    276
   WELLS/YEARY #1 - PROVED PRODUCING   ------------------------------    277
   WOODROW DAVIS #1 - PROVED SHUT-IN   ------------------------------    278
   LOCATION # 4 - PROVED UNDEVELOPED   ------------------------------    279
   LOCATION # 5 - PROVED UNDEVELOPED   ------------------------------    280
   LOCATION # 8 - PROVED UNDEVELOPED   ------------------------------    281
   LOCATION #12 - PROVED UNDEVELOPED   ------------------------------    282
   LOCATION #13 - PROVED UNDEVELOPED   ------------------------------    283
   LOCATION #14 - PROVED UNDEVELOPED   ------------------------------    284
   LOCATION #15 - PROVED UNDEVELOPED   ------------------------------    285
   LOCATION #16 - PROVED UNDEVELOPED   ------------------------------    286
   LOCATION #17 - PROVED UNDEVELOPED   ------------------------------    287
   LOCATION #19 - PROVED UNDEVELOPED   ------------------------------    288
   LOCATION #20 - PROVED UNDEVELOPED   ------------------------------    289
   LOCATION #24 - PROVED UNDEVELOPED   ------------------------------    290
   LOCATION #25 - PROVED UNDEVELOPED   ------------------------------    291
   LOCATION #26 - PROVED UNDEVELOPED   ------------------------------    292
   LOCATION #27 - PROVED UNDEVELOPED   ------------------------------    293
   LOCATION #29 - PROVED UNDEVELOPED   ------------------------------    294
   LOCATION #32 - PROVED UNDEVELOPED   ------------------------------    295
   LOCATION #33 - PROVED UNDEVELOPED   ------------------------------    296
   LOCATION #34 - PROVED UNDEVELOPED   ------------------------------    297
   LOCATION #35 - PROVED UNDEVELOPED   ------------------------------    298
   LOCATION #36 - PROVED UNDEVELOPED   ------------------------------    299
   LOCATION #38 - PROVED UNDEVELOPED   ------------------------------    300
   LOCATION #39 - PROVED UNDEVELOPED   ------------------------------    301
   LOCATION #40 - PROVED UNDEVELOPED   ------------------------------    302
   LOCATION #41 - PROVED UNDEVELOPED   ------------------------------    303
   LOCATION #42 - PROVED UNDEVELOPED   ------------------------------    304
   LOCATION #43 - PROVED UNDEVELOPED   ------------------------------    305
   LOCATION #44 - PROVED UNDEVELOPED   ------------------------------    306
   LOCATION #45 - PROVED UNDEVELOPED   ------------------------------    307
   LOCATION #46 - PROVED UNDEVELOPED   ------------------------------    308
   LOCATION #47 - PROVED UNDEVELOPED   ------------------------------    309
   LOCATION #48 - PROVED UNDEVELOPED   ------------------------------    310
   LOCATION #49 - PROVED UNDEVELOPED   ------------------------------    311
   LOCATION #50 - PROVED UNDEVELOPED   ------------------------------    312
   LOCATION #51 - PROVED UNDEVELOPED   ------------------------------    313
   LOCATION #53 - PROVED UNDEVELOPED   ------------------------------    314	

TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)

                                                                      TABLE NO.
                                                                      ---------
 SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
    LOCATION #54 - POSSIBLE UNDEVELOPED   ----------------------------    315
    LOCATION #55 - POSSIBLE UNDEVELOPED   ----------------------------    316
    LOCATION #56 - POSSIBLE UNDEVELOPED   ----------------------------    317
    LOCATION #57 - POSSIBLE UNDEVELOPED   ----------------------------    318
    LOCATION #58 - POSSIBLE UNDEVELOPED   ----------------------------    319
    LOCATION #59 - POSSIBLE UNDEVELOPED   ----------------------------    320
    LOCATION #60 - POSSIBLE UNDEVELOPED   ----------------------------    321
    LOCATION #61 - POSSIBLE UNDEVELOPED   ----------------------------    322
    LOCATION #62 - POSSIBLE UNDEVELOPED   ----------------------------    323
    LOCATION #63 - POSSIBLE UNDEVELOPED   ----------------------------    324
    LOCATION #65 - POSSIBLE UNDEVELOPED   ----------------------------    325
    LOCATION #67 - POSSIBLE UNDEVELOPED   ----------------------------    326
    LOCATION #68 - PROVED UNDEVELOPED   ------------------------------    327
    LOCATION #69 - PROVED UNDEVELOPED   ------------------------------    328
    LOCATION #70 - PROVED UNDEVELOPED   ------------------------------    329
    LOCATION #71 - PROVED UNDEVELOPED   ------------------------------    330
    LOCATION #72 - PROVED UNDEVELOPED   ------------------------------    331
!	

TABLE A
PAGE 1 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0     1,677      6,285,437      2,374,595     5.090       5.090      198
   D. SUTTON HEIRS #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0     1,232      4,637,542      2,316,318     4.966      10.056      281
   LOCATION # 8

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       837      3,075,213      1,754,737     3.762      13.818      280
   LOCATION # 5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       824      3,064,866      1,395,413     2.991      16.809      274
   WARREN REED #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       753      2,722,767      1,115,810     2.392      19.201      221
   LAURA J. LAWSON #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       522      1,962,415      1,053,647     2.259      21.460      210
   GARY PATTON #2 BP1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       447      1,541,214        974,545     2.089      23.549      279
   LOCATION # 4

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       626      2,122,837        891,240     1.911      25.459      244
   PAUL REED #9

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       477      1,703,998        815,813     1.749      27.208      233
   PAUL REED #4

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       509      1,706,228        798,300     1.711      28.920      269
   STEPHEN LAWSON #6

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       438      1,455,721        797,588     1.710      30.629      258
   RAY DEAN HELTON #4

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       447      1,533,769        771,131     1.653      32.282      299
   LOCATION #36

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       626      2,433,315        745,979     1.599      33.882      204
   DORIS HELTON #1 BP1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       438      1,455,721        734,070     1.574      35.455      259
   RAY DEAN HELTON #6

MCHALE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     79,255         0      1,385,208        695,076     1.490      36.945       62
   HARRISON -A- LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       335      1,288,008        673,415     1.444      38.389      273
   WARREN REED #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       368      1,224,910        653,151     1.400      39.789      296
   LOCATION #33

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP     30,597         0        744,492        642,078     1.376      41.166      242
   PAUL REED #8

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       335      1,094,913        632,540     1.356      42.522      287
   LOCATION #17	

TABLE A
PAGE 2 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

KRAUS FIELD,
ELLIS COUNTY, KANSAS           PV-PD     73,404         0      1,314,259        615,354     1.319      43.841       46
   KRAUS -A- LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       394      1,259,734        605,793     1.299      45.139      270
   STEPHEN LAWSON #7

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       335      1,096,295        600,219     1.287      46.426      297
   LOCATION #34

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       335      1,096,295        580,621     1.245      47.671      298
   LOCATION #35

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD     33,691         0        751,100        566,283     1.214      48.885      236
   PAUL REED #5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       279        852,272        532,049     1.141      50.025      194
   CHERYL SMITH #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       312      1,005,501        528,266     1.132      51.158      301
   LOCATION #39

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       312      1,005,501        515,276     1.105      52.262      302
   LOCATION #40

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     84,637         0        820,170        483,203     1.036      53.298       59
   CROFFOOT -B- LEASE

PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS           PV-PD     77,299         0        929,794        476,630     1.022      54.320       68
   STAHL LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       279        877,184        474,353     1.017      55.337      300
   LOCATION #38

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       315        968,323        436,842     0.936      56.273      239
   PAUL REED #7

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       223        661,071        428,710     0.919      57.192      282
   LOCATION #12

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       223        661,071        428,710     0.919      58.111      283
   LOCATION #13

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       297        904,427        424,107     0.909      59.020      196
   D. SUTTON HEIRS #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       223        662,147        420,244     0.901      59.921      288
   LOCATION #19

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       223        662,147        420,244     0.901      60.822      289
   LOCATION #20

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       225        669,838        378,548     0.811      61.634      304
   LOCATION #42

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       352      1,262,370        365,999     0.785      62.418      243
   PAUL REED #8 BP	

TABLE A
PAGE 3 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP     13,530        30        402,172        357,571     0.767      63.185      187
   ANITA COLSON #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       190        532,755        343,848     0.737      63.922      286
   LOCATION #16

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     42,314         0        700,076        337,020     0.722      64.644       78
   JACO LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       193        550,276        323,487     0.693      65.338      188
   ANITA COLSON #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       225        796,151        315,496     0.676      66.014       87
   ALLEN #1 A&D

YOHE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     36,107         0        687,497        306,143     0.656      66.670      174
   MOSHER LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       167        445,765        306,017     0.656      67.326      295
   LOCATION #32

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       203        736,041        302,438     0.648      67.975      144
   TORREY #2

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     34,460         0        437,670        297,848     0.639      68.613       61
   DICK LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-BP          0       117        458,492        288,894     0.619      69.233      143
   THIELENHAUS #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       131        406,513        265,509     0.569      69.802      251
   PURKEY #5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0       101        379,566        256,810     0.551      70.352      200
   DEANNA CROSS #1

BEISEL FIELD,
RUSSELL COUNTY, KANSAS         PV-UD     33,884         0        617,931        254,763     0.546      70.898       19
   BEISEL #9 PUD

PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS           PV-UD     39,644         0        674,797        253,480     0.543      71.442       69
   STAHL #7 PUD

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       154        553,270        248,657     0.533      71.975       97
   DECKER -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       145        447,471        247,121     0.530      72.505      133
   REICHEL #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       123        376,429        246,466     0.528      73.033      250
   PURKEY #4

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       167        444,001        244,289     0.524      73.557      310
   LOCATION #48

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       167        444,001        244,289     0.524      74.080      309
   LOCATION #47	

TABLE A
PAGE 4 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       102        337,097        241,111     0.517      74.597      253
   RAY DEAN HELTON #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       170        454,058        239,917     0.514      75.112      227
   PAUL REED #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       167        444,959        239,701     0.514      75.625      312
   LOCATION #50

SANDFORD FIELD,
BARTON COUNTY, KANSAS          PV-UD     37,722         0        562,518        238,543     0.511      76.137      156
   BEN TEMPERO #5 PUD

AXELSON FIELD,
ROOKS COUNTY, KANSAS           PV-PD     33,717         0        602,608        237,273     0.509      76.645       17
   AXELSON LEASE

PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS            PV-PD     26,552         0        441,964        234,981     0.504      77.149       84
   URBAN #1, 2 & 5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0       123        429,898        233,895     0.501      77.651      278
   WOODROW DAVIS #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI     17,132         0        319,831        211,114     0.453      78.103      226
   LAURA J. LAWSON #5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        77        258,974        210,874     0.452      78.555      229
   PAUL REED #2 BP

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        89        315,492        200,253     0.429      78.984      138
   SCHNEIDER #1

SANDFORD FIELD,
BARTON COUNTY, KANSAS          PV-PD     25,431         0        339,766        199,702     0.428      79.413      155
   BEN TEMPERO #1

RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS         PV-BP     21,014         0        302,040        197,208     0.423      79.835      154
   MAIER #1 BP

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     21,134         0        544,959        191,111     0.410      80.245       75
   GARVERT -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       103        263,396        187,422     0.402      80.647      103
   GIESICK #1

REICHEL WEST FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       185        383,858        185,525     0.398      81.045      147
   LEGLEITER -A- #1-1

CONVERSE FIELD,
BARTON COUNTY, KANSAS          PV-UD     21,869         0        392,673        177,869     0.381      81.426       29
   IANNITTI #9 PUD

PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS            PV-UD     24,495         0        490,967        174,722     0.375      81.800       85
   URBAN #6 PUD

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       123        271,192        174,604     0.374      82.175      293
   LOCATION #27

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0        59        221,307        173,731     0.372      82.547      272
   WARREN REED #1	

TABLE A
PAGE 5 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS            PV-UD     24,495         0        490,967        170,426     0.365      82.912       86
   URBAN #7 PUD

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        84        306,840        166,968     0.358      83.270      215
   HUGH ROBERTS #1 BP

WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS           PV-UD     30,683         0        599,345        163,429     0.350      83.621      172
   DOUGHERTY EAST #2 PUD

CONVERSE FIELD,
BARTON COUNTY, KANSAS          PV-PD     27,245         0        250,758        161,314     0.346      83.967       28
   IANNITTI LEASE

YOHE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     17,363         0        261,571        160,268     0.344      84.310      173
   FINNESY LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        72        271,371        159,445     0.342      84.652      255
   RAY DEAN HELTON #2 BP1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       100        241,497        158,916     0.341      84.993      267
   STEPHEN LAWSON #5

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        157,989     0.339      85.331      285
   LOCATION #15

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        98        310,814        157,104     0.337      85.668      132
   RAU #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        155,702     0.334      86.002      284
   LOCATION #14

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     16,661         0        271,563        154,644     0.332      86.333       79
   ROSS LEASE

SCHWINDT FIELD,
RUSH COUNTY, KANSAS            PV-PD     17,507         0        255,973        153,919     0.330      86.663      157
   JACOBS -B- #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        152,831     0.328      86.991      290
   LOCATION #24

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       123        271,192        151,629     0.325      87.316      308
   LOCATION #46

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-BP          0        52        207,270        150,324     0.322      87.638      124
   LIPPERT #3 BP

REICHEL WEST FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        79        207,128        149,457     0.320      87.959      149
   MUTH #1&2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        149,073     0.320      88.278      294
   LOCATION #29

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        149,073     0.320      88.598      292
   LOCATION #26

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        149,073     0.320      88.917      291
   LOCATION #25	

TABLE A
PAGE 6 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI      6,772         0        164,511        146,192     0.313      89.231      254
   RAY DEAN HELTON #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0       115        281,749        145,314     0.312      89.542      220
   LAURA J. LAWSON #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        143,014     0.307      89.849      307
   LOCATION #45

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        94        216,638        137,480     0.295      90.144      263
   STEPHEN LAWSON #3

LITTLE RIO FIELD,
RICE COUNTY, KANSAS            PV-PD     22,874         0        227,007        135,168     0.290      90.433       56
   WHITEMAN-HOLLAND LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        134,943     0.289      90.723      303
   LOCATION #41

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        134,943     0.289      91.012      306
   LOCATION #44

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        134,943     0.289      91.301      305
   LOCATION #43

WERTH NORTH FIELD,
ELLIS COUNTY, KANSAS           PV-PD     19,604         0        222,079        134,363     0.288      91.589      169
   SCHNELLER LEASE

COOPER FIELD,
GRAHAM COUNTY, KANSAS          PV-PD     16,929         0        240,882        133,562     0.286      91.876       31
   LEWIS LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP      8,390         6        180,999        133,299     0.286      92.161      266
   STEPHEN LAWSON #4 BP

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        95        282,275        130,764     0.280      92.442      107
   HANHARDT -A- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        129,458     0.278      92.719      311
   LOCATION #49

SPRING CREEK FIELD,
TREGO COUNTY, KANSAS           PV-PD     16,385         0        187,574        128,849     0.276      92.995      158
   RIDGWAY #1

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     29,664         0        174,054        127,373     0.273      93.268       57
   CROFFOOT LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       103        267,847        127,321     0.273      93.541      100
   FOOS #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        96        367,333        126,456     0.271      93.812      109
   HOFFMAN #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        125,231     0.268      94.081      313
   LOCATION #51

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       112        230,804        125,231     0.268      94.349      314
   LOCATION #53	

TABLE A
PAGE 7 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0        38        144,255        123,855     0.266      94.615      214
   HUGH ROBERTS #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       112        421,603        122,558     0.263      94.878      201
   DEANNA CROSS #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        120,384     0.258      95.136      328
   LOCATION #69

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        120,384     0.258      95.394      327
   LOCATION #68

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       264        882,168        118,691     0.254      95.648      231
   PAUL REED #3 BP1

GIESICK FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        95        335,558        117,745     0.252      95.901       40
   GIESICK #2

CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS          PV-PD     18,317         0        205,098        117,718     0.252      96.153       24
   LANDER #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        115,491     0.248      96.400      331
   LOCATION #72

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        115,491     0.248      96.648      330
   LOCATION #71

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0       111        227,438        115,491     0.248      96.896      329
   LOCATION #70

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     18,399         0        191,901        111,546     0.239      97.135       60
   CROFFOOT -C- LEASE

KRAUS FIELD,
ELLIS COUNTY, KANSAS           PV-PD     16,601         0        155,444        108,867     0.233      97.368       48
   KRAUS -I- LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        86        307,949        107,681     0.231      97.599      130
   OCHS -A- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       452      1,707,988        105,099     0.225      97.824      268
   STEPHEN LAWSON #5 BP

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-BP          0        38        140,963        104,378     0.224      98.048      108
   HANHARDT -A- #1BP

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0       102        214,686        101,428     0.217      98.265      123
   LIPPERT #3

PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS            PV-BP          0        40        143,513         99,520     0.213      98.479   83
   URBAN -K- #5 BP

REICHEL EAST FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        74        265,228         96,951     0.208      98.687      146
   BAHR #1

RIDGEWAY SOUTH FIELD,
TREGO COUNTY, KANSAS           PV-PD      9,652         0        130,348         95,923     0.206      98.892      150
   SCHOENTHALER #3	

TABLE A
PAGE 8 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     12,382         0        276,104         95,748     0.205      99.098       76
   GARVERT -B- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        74        284,418         93,499     0.200      99.298      136
   SCHEUERMAN #56

BIELMAN FIELD,
ELLIS COUNTY, KANSAS           PV-PD     10,792         0        127,936         93,097     0.200      99.498       20
   GRASS #5

DAVIDSON FIELD,
RUSSELL COUNTY, KANSAS         PV-PD     12,945         0        116,372         92,137     0.198      99.695       32
   FOSTER LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        69        162,733         88,574     0.190      99.885      247
   PURKEY #3

KRAUS FIELD,
ELLIS COUNTY, KANSAS           PV-PD     12,361         0        141,635         88,098     0.189     100.074       47
   KRAUS -B- LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        70        216,298         86,720     0.186     100.260       93
   BIEBER -A- #1

WEBSTER FIELD,
ROOKS COUNTY, KANSAS           PV-PD      8,663         0        127,994         83,510     0.179     100.439      167
   CERROW-CERROW -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        43        149,729         82,678     0.177     100.616       90
   APPL #2

MCHALE FIELD,
ROOKS COUNTY, KANSAS           PV-PD     14,378         0        128,521         82,222     0.176     100.792       63
   HILGERS -B- LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        57        138,532         80,321     0.172     100.964      277
   WELLS/YEARY #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        50        193,549         76,090     0.163     101.128      104
   GILLIG #1

STOCKTON FIELD,
ROOKS COUNTY, KANSAS           PV-PD     12,838         0        154,331         75,611     0.162     101.290      160
   STEBBINS #1

OMLOR FIELD,
STAFFORD COUNTY, KANSAS        PV-PD      7,474         0        112,445         72,808     0.156     101.446       66
   WILLIAMS #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        52        100,174         72,123     0.155     101.600      237
   PAUL REED #6

THACKER FIELD,
RUSSELL COUNTY, KANSAS         PV-PD      6,643         0         87,556         70,566     0.151     101.752      164
   THACKER #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        47        108,454         69,161     0.148     101.900      216
   JEFF JOHNSON #1

DISTRICT 57 FIELD,
ELLIS COUNTY, KANSAS           PV-PD     14,131         0        150,247         68,187     0.146     102.046       33
   FLAX #1

WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS           PV-PD     11,367         0        159,930         68,060     0.146     102.192      170
   DOUGHERTY EAST #1	

TABLE A
PAGE 9 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

TRAPP FIELD,
BARTON COUNTY, KANSAS          PV-PD      9,142         0        103,809         67,609     0.145     102.337      166
   HOWLIER #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        49        125,827         66,974     0.144     102.480      120
   KOBER #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        47        158,444         65,675     0.141     102.621      105
   GRUMBEIN -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        41         78,717         65,061     0.139     102.761      134
   ROTHE #1-31

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        57        183,924         64,273     0.138     102.898      139
   SHERWOOD #1

HOBROCK FIELD,
OSBORNE COUNTY, KANSAS         PV-PD      5,694         0         78,247         63,903     0.137     103.035       44
   HOGAN LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        32         93,838         63,378     0.136     103.171      135
   ROTHE, R. #1

CENTERVIEW FIELD,
STAFFORD COUNTY, KANSAS        PV-PD      9,742         0         89,273         62,903     0.135     103.306       23
   BECKERDITE #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        49         92,799         60,885     0.131     103.437      230
   PAUL REED #3

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        26         97,151         60,475     0.130     103.566      142
   THIELENHAUS #1

PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS            PV-PD      6,173         0        124,876         58,649     0.126     103.692       82
   URBAN -K- #5

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS           PV-PD      9,713         0         93,699         56,536     0.121     103.813       58
   CROFFOOT -A- LEASE

CHEYENNE FIELD,
BARTON COUNTY, KANSAS          PV-PD      8,848         0         81,783         56,500     0.121     103.934       27
   HAMMEKE #1

ARPIN SOUTH FIELD,
ROOKS COUNTY, KANSAS           PV-PD      5,786         0         71,542         56,172     0.120     104.055       15
   THYFAULT #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP     25,374        17        638,124         55,279     0.119     104.173      264
   STEPHEN LAWSON #3 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        41         72,971         55,210     0.118     104.292      213
   HAZEL SUTTON #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        40        113,363         54,807     0.117     104.409      116
   KAISER #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        23         93,343         52,654     0.113     104.522      118
   KLEWENO #1-21

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD      7,929         0         83,210         52,111     0.112     104.634       77
   HARRISON -C- LEASE	

TABLE A
PAGE 10 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        47        140,531         51,531     0.110     104.744       89
   APPL #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        40        126,148         50,341     0.108     104.852      106
   HANHARDT #1

GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS        PV-PD     12,124         0         69,332         50,048     0.107     104.959       39
   SCHULZ LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI      2,249         0         53,478         49,701     0.107     105.066      193
   CHERYL SMITH #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       604      2,342,205         49,493     0.106     105.172      234
   PAUL REED #4 BP1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        31        117,083         47,386     0.102     105.274      127
   LIPPERT -C- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI      3,521         0         56,269         46,185     0.099     105.373      191
   BOBBY YEARY #2

RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS           PV-PD      6,186         0         78,359         45,903     0.098     105.471      151
   KELLER LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP     13,530        45        449,862         45,857     0.098     105.569      211
   GARY PATTON #2 BP2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        25         70,045         44,602     0.096     105.665       98
   EDWARDS #1

STOCKTON FIELD,
ROOKS COUNTY, KANSAS           PV-PD      9,056         0         79,644         44,269     0.095     105.760      159
   HINDMAN #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        41         70,852         42,490     0.091     105.851       92
   BIEBER #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        35        108,928         39,523     0.085     105.936      113
   HONDERICK -C- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       890      3,552,153         39,247     0.084     106.020      275
   WARREN REED #2 BP1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP     10,235         0        222,945         38,409     0.082     106.102      238
   PAUL REED #6 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        26         45,751         38,139     0.082     106.184      203
   DORIS HELTON #1

CARPENTER FIELD,
EDWARDS COUNTY, KANSAS         PV-PD      5,719         0         65,656         35,472     0.076     106.260       21
   HENNING #1

OMLOR FIELD,
STAFFORD COUNTY, KANSAS        PV-PD      4,067         0         49,938         35,039     0.075     106.335       65
   MILLER #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        32         90,692         32,846     0.070     106.405       95
   BREIT #1	

TABLE A
PAGE 11 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS           PV-PD      7,615         0         38,727         32,069     0.069     106.474      152
   KELLER -A- LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        19         56,162         31,748     0.068     106.542      145
   URBAN R & A #1

BEISEL FIELD,
RUSSELL COUNTY, KANSAS         PV-PD     10,390         0         37,167         31,021     0.067     106.609       18
   BEISEL LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       141        277,846         30,721     0.066     106.675      225
   LAURA J. LAWSON #4 BP

CARROLL FIELD,
BARTON COUNTY, KANSAS          PV-PD      8,855         0         40,850         28,873     0.062     106.737       22
   KEENAN -B- LEASE

LEIKER EAST FIELD,
ELLIS COUNTY, KANSAS           PV-PD      4,160         0         47,794         28,470     0.061     106.798       49
   LEIKER #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        23         51,057         28,261     0.061     106.858      119
   KLEWENO -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD      1,767         0         39,453         27,481     0.059     106.917       96
   BREIT-HOLZMEISTER -B-

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        98        349,855         27,320     0.059     106.976      205
   DORIS HELTON #1 BP2

STOCKTON FIELD,
ROOKS COUNTY, KANSAS           PV-PD      5,201         0         38,000         27,227     0.058     107.034      161
   WATTS #1

ELLIS NW FIELD,
TREGO COUNTY, KANSAS           PV-PD      5,089         0         32,243         25,211     0.054     107.088       36
   BAUGHER #1

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD      3,444         0         41,969         23,889     0.051     107.139       73
   ANDERSON -A- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-UD          0        70         57,684         23,381     0.050     107.189      217
   JEFF JOHNSON #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        29         31,935         22,669     0.049     107.238      224
   LAURA J. LAWSON #4

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD      2,394         0         27,114         21,951     0.047     107.285      261
   STEPHEN LAWSON #1

WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS           PV-BP      2,453         0         55,316         21,895     0.047     107.332      171
   DOUGHERTY EAST #1 BP

HOBROCK FIELD,
OSBORNE COUNTY, KANSAS         PV-PD      2,851         0         33,567         21,534     0.046     107.378       43
   HOBROCK #4

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        13         22,398         18,781     0.040     107.418      140
   STEITZ -A- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        22         25,889         18,096     0.039     107.457      101
   FOOS -A- #1	

TABLE A
PAGE 12 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        15         46,235         18,085     0.039     107.496      256
   RAY DEAN HELTON #2 BP2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         9         35,013         17,695     0.038     107.534      126
   LIPPERT -B- #2

STREMEL FIELD,
RUSH COUNTY, KANSAS            PV-PD      1,502         0         18,210         15,804     0.034     107.568      163
   URBAN -D- LEASE

COOPER FIELD,
GRAHAM COUNTY, KANSAS          PV-PD      5,265         0         13,398         11,893     0.025     107.593       30
   DEYOUNG LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0        18         15,347         11,775     0.025     107.618      223
   LAURA J. LAWSON #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       112        404,623         10,245     0.022     107.640      248
   PURKEY #3 BP1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0        12         14,487         10,082     0.022     107.662      137
   SCHLITTER #2

WEBSTER FIELD,
ROOKS COUNTY, KANSAS           PV-PD      2,147         0         10,136          8,653     0.019     107.681      168
   LOWRY #1

LEONHARDT SOUTHEAST FIELD,
ELLIS COUNTY, KANSAS           PV-PD      3,026         0          9,386          8,125     0.017     107.698       50
   KRAUS LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD        537         0          6,712          5,952     0.013     107.711      117
   KAISER -A- #1

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         9          8,244          5,324     0.011     107.722       53
   LEGLEITER -B- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       140        505,035          5,268     0.011     107.733      197
   D. SUTTON HEIRS #1 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0       130        472,522          4,542     0.010     107.743      240
   PAUL REED #7 BP1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         4          2,932          2,756     0.006     107.749      265
   STEPHEN LAWSON #4

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         8          2,950          2,692     0.006     107.755      141
   STEITZ -B- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         6          2,524          2,326     0.005     107.760      207
   FRED PORTRUM #1

PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS          PV-PD      1,824         0          2,227          2,124     0.005     107.764       71
   OETKIN LEASE

PLEASANT FIELD,
ELLIS COUNTY, KANSAS           PV-PD        799         0          1,724          1,583     0.003     107.768       81
   HONAS #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        42        147,126          1,403     0.003     107.771      249
   PURKEY #3 BP2	

TABLE A
PAGE 13 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

HERMAN FIELD,
BARTON COUNTY, KANSAS          PV-PD      1,375         0          1,461          1,370     0.003     107.774       42
   H. KARST LEASE

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         1          1,560          1,252     0.003     107.776      102
   FRYE #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         1            856            775     0.002     107.778       94
   BRACK -A- #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         0            601            597     0.001     107.779      208
   FRED PORTRUM #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         2            562            526     0.001     107.781      245
   PURKEY #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0        14         27,884            477     0.001     107.782      232
   PAUL REED #3 BP2

TRAPP FIELD,
BARTON COUNTY, KANSAS          PV-PD        259         0            190            185     0.000     107.782      165
   DEUTSCH

IRVIN FIELD,
ELLIS COUNTY, KANSAS           PV-PD        438         0             67             66     0.000     107.782       45
   KINDERKNECHT -B- LEASE

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI         17         0             44             44     0.000     107.782      257
   RAY DEAN HELTON #3

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       54
   LEGLEITER -C- #1

GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS        PV-PD          0         0              0              0     0.000     107.782       38
   HOFFMAN #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      192
   BOBBY YEARY #3

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      209
   GARY PATTON #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         0              0              0     0.000     107.782      252
   RAY DEAN HELTON #1

GOTTSCHALK FIELD,
ELLIS COUNTY, KANSAS           PV-PD          0         0              0              0     0.000     107.782       41
   WERTH #1

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       55
   LEGLEITER -C- #2

DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS          PV-PD          0         0              0              0     0.000     107.782       35
   LOVETT #1

ASH CREEK FIELD,
BARTON COUNTY, KANSAS          PV-PD          0         0              0              0     0.000     107.782       16
   UNRUH #2

DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS          PV-PD          0         0              0              0     0.000     107.782       34
   BARSTOW #1	

TABLE A
PAGE 14 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0         0              0              0     0.000     107.782      190
   BOBBY YEARY #1BP

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      111
   HOLZMEISTER -A- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      202
   DEWEY SUTTON #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      121
   LEBSACK -A- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      262
   STEPHEN LAWSON #2

FICKEN FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       37
   SCHWINDT FARMS #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      260
   ROSE #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      246
   PURKEY #2

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       52
   GRAHAM #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       91
   BEAHM #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      128
   MCGILL #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      129
   O'DELL #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      112
   HOLZMEISTER -B- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      131
   PFEIFER -B- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      195
   CHEVRON REED #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      115
   JANSON -A- #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      125
   LIPPERT -B- #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       99
   ELDER #19

CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS          PV-PD          0         0              0              0     0.000     107.782       26
   ROSE LEASE	

TABLE A
PAGE 15 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

MCHALE FIELD,
ROOKS COUNTY, KANSAS           PV-PD          0         0              0              0     0.000     107.782       64
   KABA #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0         0              0              0     0.000     107.782      222
   LAURA J. LAWSON #2 BP

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0         0              0              0     0.000     107.782      241
   PAUL REED #7 BP2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      122
   LIPPERT #2

OTIS-ALBERT FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       67
   HARTMAN -C- #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      186
   ANITA COLSON #1

PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS          PV-PD          0         0              0              0     0.000     107.782       70
   O'SCHULTZ #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      228
   PAUL REED #2

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         0              0              0     0.000     107.782      189
   BOBBY YEARY #1

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      110
   HOLZMEISTER #1

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS           PV-PD          0         0              0              0     0.000     107.782       74
   BARDOT #1

REICHEL WEST FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      148
   LEGLEITER -A- #1-2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      114
   HOOFER #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-SI          0         0              0              0     0.000     107.782      271
   T.J. HARRISON #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0         0              0              0     0.000     107.782      235
   PAUL REED #4 BP2

PLEASANT FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       80
   BASGALL -C- #4

RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS         PV-PD          0         0              0              0     0.000     107.782      153
   MAIER #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-PD          0         0              0              0     0.000     107.782      199
   DARNELL SUTTON #1

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE      PV-BP          0         0              0              0     0.000     107.782      276
   WARREN REED #2 BP2	

TABLE A
PAGE 16 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002

                                                                                ($)
                                      ----NET RESERVES----       ($)         FUTURE NET    PERCENT   CUMULATIVE
                                (A)    (BARRELS)    (MMCF)    FUTURE NET    INCOME DISC.     OF        PERCENT    TABLE
                              STATUS  OIL/COND.(B)    GAS     INCOME (C)      AT 10.0%      TOTAL     OF TOTAL    NUMBER
                              ------  ------------  ------    ----------    -----------   --------   ----------   -------

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       51
   DECHANT -B- #2

REICHEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782       88
   ANDRE #1

STREMEL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0              0              0     0.000     107.782      162
   OCHS #1 & 3

VARIOUS FIELD,
ALL COUNTY, KANSAS             PV-BP          0         0       -169,440       -103,599    -0.222     107.560      177
   KANSAS FIXED COSTS 2PBP

VARIOUS FIELD,
ALL COUNTY, KANSAS             PV-UD          0         0       -958,282       -283,607    -0.608     106.952      178
   KANSAS FIXED COSTS 3PUD

ALL FIELD,
RUSH COUNTY, KANSAS            PV-PD          0         0     -1,866,760       -506,804    -1.086     105.866      175
   OTIS COMPRESSOR STATION

VARIOUS FIELD,
ALL COUNTY, KANSAS             PV-PD          0         0     -6,809,084     -2,736,220    -5.866     100.000      176
   KANSAS FIXED COSTS 1PDP

                                      ---------    ------     ----------     ----------   -------     -------
**** TOTALS ****                      1,475,899    26,599     98,962,004     46,648,020   100.000     100.000	

(A) RESERVE TYPES: PV = PROVED     STATUS: PD = PRODUCING     DP = DEPLETED
                   PB = PROBABLE           BP = BEHIND PIPE   NP = NON-PRODUCING
                   PS = POSSIBLE           SI = SHUT IN       PB = PAYBACK
                                           UD = UNDEVELOPED
(B) EXCLUDES PLANT PRODUCTS	

(C) BEFORE FEDERAL OR STATE/PROVINCE INCOME TAXES
 
TABLE B
PAGE 1 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                             -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                             ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                       (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                     STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                     ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

KANSAS PROPERTIES
-----------------

ARPIN SOUTH FIELD, ROOKS COUNTY, KANSAS
THYFAULT #1          PV-PD       7,053      0       5,786           0      156,926       85,384       71,542       56,172

ASH CREEK FIELD, BARTON COUNTY, KANSAS
UNRUH #2             PV-PD           0      0           0           0            0            0            0            0

AXELSON FIELD, ROOKS COUNTY, KANSAS
AXELSON LEASE        PV-PD      42,519      0      33,717           0      914,512      311,904      602,608      237,273

BEISEL FIELD, RUSSELL COUNTY, KANSAS
BEISEL LEASE         PV-PD      11,874      0      10,390           0      281,817      244,650       37,167       31,021
BEISEL #9 PUD        PV-UD      38,724      0      33,884           0      919,040      301,109      617,931      254,763

BIELMAN FIELD, ELLIS COUNTY, KANSAS
GRASS #5             PV-PD      12,334      0      10,792           0      292,716      164,780      127,936       93,097

CARPENTER FIELD, EDWARDS COUNTY, KANSAS
HENNING #1           PV-PD       8,069      0       5,719           0      155,132       89,476       65,656       35,472

CARROLL FIELD, BARTON COUNTY, KANSAS
KEENAN -B- LEASE     PV-PD      10,193      0       8,855           0      240,167      199,317       40,850       28,873

CENTERVIEW FIELD, STAFFORD COUNTY, KANSAS
BECKERDITE #1        PV-PD      12,065      0       9,742           0      264,244      174,971       89,273       62,903

CHASE-SILICA FIELD, BARTON COUNTY, KANSAS
LANDER #1            PV-PD      24,692      0      18,317           0      496,810      291,712      205,098      117,718
LANDER #3 PBUD       PB-UD      49,981      0      37,076           0    1,005,634      439,506      566,128      239,032
ROSE LEASE           PV-PD           0      0           0           0            0            0            0            0

CHEYENNE FIELD, BARTON COUNTY, KANSAS
HAMMEKE #1           PV-PD      10,609      0       8,848           0      239,985      158,202       81,783       56,500

CONVERSE FIELD, BARTON COUNTY, KANSAS
IANNITTI LEASE       PV-PD      31,137      0      27,245           0      738,978      488,220      250,758      161,314
IANNITTI #9 PUD      PV-UD      24,993      0      21,869           0      593,162      200,489      392,673      177,869

COOPER FIELD, GRAHAM COUNTY, KANSAS
DEYOUNG LEASE        PV-PD       6,018      0       5,265           0      142,818      129,420       13,398       11,893
LEWIS LEASE          PV-PD      19,348      0      16,929           0      459,182      218,300      240,882      133,562

DAVIDSON FIELD, RUSSELL COUNTY, KANSAS
FOSTER LEASE         PV-PD      15,271      0      12,945           0      351,112      234,740      116,372       92,137

DISTRICT 57 FIELD, ELLIS COUNTY, KANSAS
FLAX #1              PV-PD      16,150      0      14,131           0      383,291      233,044      150,247       68,187

DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS
BARSTOW #1           PV-PD           0      0           0           0            0            0            0            0
LOVETT #1            PV-PD           0      0           0           0            0            0            0            0

ELLIS NW FIELD, TREGO COUNTY, KANSAS
BAUGHER #1           PV-PD       6,647      0       5,089           0      138,043      105,800       32,243       25,211

FICKEN FIELD, RUSH COUNTY, KANSAS
SCHWINDT FARMS #1    PV-PD           0      0           0           0            0            0            0            0

GATES NORTH FIELD, STAFFORD COUNTY, KANSAS
HOFFMAN #1           PV-PD           0      0           0           0            0            0            0            0
SCHULZ LEASE         PV-PD      21,866      0      12,124           0      328,836      259,504       69,332       50,048

GIESICK FIELD, RUSH COUNTY, KANSAS
GIESICK #2           PV-PD           0    118           0          95      385,022       49,464      335,558      117,745

GOTTSCHALK FIELD, ELLIS COUNTY, KANSAS
WERTH #1             PV-PD           0      0           0           0            0            0            0            0

HERMAN FIELD, BARTON COUNTY, KANSAS
H. KARST LEASE       PV-PD       1,959      0       1,375           0       37,302       35,841        1,461        1,370	

TABLE B
PAGE 2 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                               -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                               ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                         (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                       STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                       ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

HOBROCK FIELD, OSBORNE COUNTY, KANSAS
HOBROCK #4             PV-PD       5,915      0       2,851           0       77,320       43,753       33,567       21,534
HOGAN LEASE            PV-PD      11,838      0       5,694           0      154,434       76,187       78,247       63,903

IRVIN FIELD, ELLIS COUNTY, KANSAS
KINDERKNECHT -B- LEASE PV-PD         501      0         438           0       11,891       11,824           67           66

KRAUS FIELD, ELLIS COUNTY, KANSAS
KRAUS -A- LEASE        PV-PD      89,483      0      73,404           0    1,990,969      676,710    1,314,259      615,354
KRAUS -B- LEASE        PV-PD      14,127      0      12,361           0      335,275      193,640      141,635       88,098
KRAUS -I- LEASE        PV-PD      20,238      0      16,601           0      450,284      294,840      155,444      108,867

LEIKER EAST FIELD, ELLIS COUNTY, KANSAS
LEIKER #1              PV-PD      11,410      0       4,160           0      112,832       65,038       47,794       28,470

LEONHARDT SOUTHEAST FIELD, ELLIS COUNTY, KANSAS
KRAUS LEASE            PV-PD       3,816      0       3,026           0       82,074       72,688        9,386        8,125

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS
DECHANT -B- #2         PV-PD           0      0           0           0            0            0            0            0
GRAHAM #1              PV-PD           0      0           0           0            0            0            0            0
LEGLEITER -B- #1       PV-PD           0     12           0           9       37,668       29,424        8,244        5,324
LEGLEITER -C- #1       PV-PD           0      0           0           0            0            0            0            0
LEGLEITER -C- #2       PV-PD           0      0           0           0            0            0            0            0

LITTLE RIO FIELD, RICE COUNTY, KANSAS
WHITEMAN-HOLLAND LEASE PV-PD      27,884      0      22,874           0      620,421      393,414      227,007      135,168

MARCOTTE FIELD, ROOKS COUNTY, KANSAS
CROFFOOT LEASE         PV-PD      34,440      0      29,664           0      804,606      630,552      174,054      127,373
CROFFOOT -A- LEASE     PV-PD      11,289      0       9,713           0      263,439      169,740       93,699       56,536
CROFFOOT -B- LEASE     PV-PD     103,177      0      84,637           0    2,295,666    1,475,496      820,170      483,203
CROFFOOT -C- LEASE     PV-PD      22,809      0      18,399           0      499,043      307,142      191,901      111,546
DICK LEASE             PV-PD      39,383      0      34,460           0      934,686      497,016      437,670      297,848

MCHALE FIELD, ROOKS COUNTY, KANSAS
HARRISON -A- LEASE     PV-PD      90,577      0      79,255           0    2,149,676      764,468    1,385,208      695,076
HILGERS -B- LEASE      PV-PD      16,432      0      14,378           0      389,977      261,456      128,521       82,222
KABA #2                PV-PD           0      0           0           0            0            0            0            0

OMLOR FIELD, STAFFORD COUNTY, KANSAS
MILLER #1              PV-PD       5,738      0       4,067           0      110,314       60,376       49,938       35,039
WILLIAMS #1            PV-PD      10,450      0       7,474           0      202,717       90,272      112,445       72,808

OTIS-ALBERT FIELD, RUSH COUNTY, KANSAS
HARTMAN -C- #1         PV-PD           0      0           0           0            0            0            0            0

PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS
STAHL LEASE            PV-PD      91,614      0      77,299           0    2,096,626    1,166,832      929,794      476,630
STAHL #7 PUD           PV-UD      46,986      0      39,644           0    1,075,297      400,500      674,797      253,480

PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS
O'SCHULTZ #1           PV-PD           0      0           0           0            0            0            0            0
OETKIN LEASE           PV-PD       2,295      0       1,824           0       49,466       47,239        2,227        2,124
OETKIN #8 PBUD         PB-UD      18,990      0      15,091           0      409,318      341,059       68,259       20,893

PLAINVILLE FIELD, ROOKS COUNTY, KANSAS
ANDERSON -A- #1        PV-PD       3,936      0       3,444           0       93,414       51,445       41,969       23,889
BARDOT #1              PV-PD           0      0           0           0            0            0            0            0
GARVERT -A- #1         PV-PD      24,153      0      21,134           0      573,231       28,272      544,959      191,111
GARVERT -B- #1         PV-PD      14,151      0      12,382           0      335,840       59,736      276,104       95,748
HARRISON -C- LEASE     PV-PD       9,062      0       7,929           0      215,074      131,864       83,210       52,111
JACO LEASE             PV-PD      48,359      0      42,314           0    1,147,708      447,632      700,076      337,020
ROSS LEASE             PV-PD      19,041      0      16,661           0      451,899      180,336      271,563      154,644

PLEASANT FIELD, RUSH COUNTY, KANSAS
BASGALL -C- #4         PV-PD           0      0           0           0            0            0            0            0

PLEASANT FIELD, ELLIS COUNTY, KANSAS
HONAS #3               PV-PD         973      0         799           0       21,660       19,936        1,724        1,583

PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS
URBAN -K- #5           PV-PD       7,055      0       6,173           0      167,437       42,561      124,876       58,649
URBAN -K- #5 BP        PV-BP           0     50           0          40      163,345       19,832      143,513       99,520	

TABLE B
PAGE 3 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                               -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                               ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                         (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                       STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                       ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS
URBAN #1, 2 & 5        PV-PD      30,345      0      26,552           0      720,172      278,208      441,964      234,981
URBAN #6 PUD           PV-UD      27,995      0      24,495           0      664,397      173,430      490,967      174,722
URBAN #7 PUD           PV-UD      27,995      0      24,495           0      664,397      173,430      490,967      170,426

REICHEL FIELD, RUSH COUNTY, KANSAS
ALLEN #1 A&D           PV-PD           0    280           0         225      914,483      118,332      796,151      315,496
ANDRE #1               PV-PD           0      0           0           0            0            0            0            0
APPL #1                PV-PD           0     58           0          47      188,740       48,209      140,531       51,531
APPL #2                PV-PD           0     57           0          43      174,607       24,878      149,729       82,678
BEAHM #1               PV-PD           0      0           0           0            0            0            0            0
BIEBER #1              PV-PD           0     55           0          41      167,002       96,150       70,852       42,490
BIEBER -A- #1          PV-PD           0     93           0          70      283,859       67,561      216,298       86,720
BRACK -A- #3           PV-PD           0      2           0           1        5,467        4,611          856          775
BREIT #1               PV-PD           0     40           0          32      129,210       38,518       90,692       32,846
BREIT-HOLZMEISTER -B-  PV-PD       2,052      0       1,767           0       47,940        8,487       39,453       27,481
DECKER -A- #1          PV-PD           0    193           0         154      626,244       72,974      553,270      248,657
EDWARDS #1             PV-PD           0     31           0          25       99,955       29,910       70,045       44,602
ELDER #19              PV-PD           0      0           0           0            0            0            0            0
FOOS #1                PV-PD           0    136           0         103      416,249      148,402      267,847      127,321
FOOS -A- #1            PV-PD           0     29           0          22       89,135       63,246       25,889       18,096
FRYE #2                PV-PD           0      2           0           1        5,620        4,060        1,560        1,252
GIESICK #1             PV-PD           0    128           0         103      419,272      155,876      263,396      187,422
GILLIG #1              PV-PD           0     62           0          50      203,480        9,931      193,549       76,090
GRUMBEIN -A- #1        PV-PD           0     58           0          47      188,870       30,426      158,444       65,675
HANHARDT #1            PV-PD           0     53           0          40      163,388       37,240      126,148       50,341
HANHARDT -A- #1        PV-PD           0    126           0          95      384,679      102,404      282,275      130,764
HANHARDT -A- #1BP      PV-BP           0     50           0          38      152,963       12,000      140,963      104,378
HOFFMAN #3             PV-PD           0    128           0          96      391,318       23,985      367,333      126,456
HOLZMEISTER #1         PV-PD           0      0           0           0            0            0            0            0
HOLZMEISTER -A- #1     PV-PD           0      0           0           0            0            0            0            0
HOLZMEISTER -B- #1     PV-PD           0      0           0           0            0            0            0            0
HONDERICK -C- #1       PV-PD           0     43           0          35      141,094       32,166      108,928       39,523
HOOFER #1              PV-PD           0      0           0           0            0            0            0            0
JANSON -A- #2          PV-PD           0      0           0           0            0            0            0            0
KAISER #2              PV-PD           0     49           0          40      161,041       47,678      113,363       54,807
KAISER -A- #1          PV-PD         614      0         537           0       14,573        7,861        6,712        5,952
KLEWENO #1-21          PV-PD           0     31           0          23       93,517          174       93,343       52,654
KLEWENO -A- #1         PV-PD           0     29           0          23       93,978       42,921       51,057       28,261
KOBER #1               PV-PD           0     61           0          49      199,738       73,911      125,827       66,974
LEBSACK -A- #1         PV-PD           0      0           0           0            0            0            0            0
LIPPERT #2             PV-PD           0      0           0           0            0            0            0            0
LIPPERT #3             PV-PD           0    127           0         102      413,711      199,025      214,686      101,428
LIPPERT #3 BP          PV-BP           0     65           0          52      212,270        5,000      207,270      150,324
LIPPERT -B- #1         PV-PD           0      0           0           0            0            0            0            0
LIPPERT -B- #2         PV-PD           0     12           0           9       35,084           71       35,013       17,695
LIPPERT -C- #1         PV-PD           0     44           0          31      125,541        8,458      117,083       47,386
MCGILL #2              PV-PD           0      0           0           0            0            0            0            0
O'DELL #1              PV-PD           0      0           0           0            0            0            0            0
OCHS -A- #1            PV-PD           0    107           0          86      348,686       40,737      307,949      107,681
PFEIFER -B- #1         PV-PD           0      0           0           0            0            0            0            0
RAU #1                 PV-PD           0    130           0          98      397,219       86,405      310,814      157,104
REICHEL #1             PV-PD           0    181           0         145      589,951      142,480      447,471      247,121
ROTHE #1-31            PV-PD           0     50           0          41      164,449       85,732       78,717       65,061
ROTHE, R. #1           PV-PD           0     43           0          32      130,621       36,783       93,838       63,378
SCHEUERMAN #56         PV-PD           0     92           0          74      299,990       15,572      284,418       93,499
SCHLITTER #2           PV-PD           0     15           0          12       48,829       34,342       14,487       10,082
SCHNEIDER #1           PV-PD           0    118           0          89      361,480       45,988      315,492      200,253
SHERWOOD #1            PV-PD           0     78           0          57      231,794       47,870      183,924       64,273
STEITZ -A- #1          PV-PD           0     17           0          13       54,101       31,703       22,398       18,781
STEITZ -B- #1          PV-PD           0     11           0           8       32,284       29,334        2,950        2,692
THIELENHAUS #1         PV-PD           0     33           0          26      106,686        9,535       97,151       60,475
THIELENHAUS #1 BP      PV-BP           0    145           0         117      473,492       15,000      458,492      288,894
TORREY #2              PV-PD           0    256           0         203      822,315       86,274      736,041      302,438
URBAN R & A #1         PV-PD           0     24           0          19       77,097       20,935       56,162       31,748

REICHEL EAST FIELD, RUSH COUNTY, KANSAS
BAHR #1                PV-PD           0     92           0          74      300,408       35,180      265,228       96,951

REICHEL WEST FIELD, RUSH COUNTY, KANSAS
LEGLEITER -A- #1-1     PV-PD           0    272           0         185      749,454      365,596      383,858      185,525
LEGLEITER -A- #1-2     PV-PD           0      0           0           0            0            0            0            0
MUTH #1&2              PV-PD           0    119           0          79      320,348      113,220      207,128      149,457	

TABLE B
PAGE 4 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                                 -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                                 ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                           (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                         STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                         ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

RIDGEWAY SOUTH FIELD, TREGO COUNTY, KANSAS
SCHOENTHALER #3          PV-PD      11,767      0       9,652           0      261,808      131,460      130,348       95,923

RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS
KELLER LEASE             PV-PD       7,070      0       6,186           0      167,793       89,434       78,359       45,903
KELLER -A- LEASE         PV-PD       8,702      0       7,615           0      206,535      167,808       38,727       32,069

RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS
MAIER #1                 PV-PD           0      0           0           0            0            0            0            0
MAIER #1 BP              PV-BP      31,085      0      21,014           0      569,980      267,940      302,040      197,208

SANDFORD FIELD, BARTON COUNTY, KANSAS
BEN TEMPERO #1           PV-PD      31,002      0      25,431           0      689,784      350,018      339,766      199,702
BEN TEMPERO #5 PUD       PV-UD      45,985      0      37,722           0    1,023,147      460,629      562,518      238,543

SCHWINDT FIELD, RUSH COUNTY, KANSAS
JACOBS -B- #3            PV-PD      20,008      0      17,507           0      474,844      218,871      255,973      153,919

SPRING CREEK FIELD, TREGO COUNTY, KANSAS
RIDGWAY #1               PV-PD      21,025      0      16,385           0      444,420      256,846      187,574      128,849

STOCKTON FIELD, ROOKS COUNTY, KANSAS
HINDMAN #1               PV-PD      11,189      0       9,056           0      245,628      165,984       79,644       44,269
STEBBINS #1              PV-PD      17,081      0      12,838           0      348,209      193,878      154,331       75,611
WATTS #1                 PV-PD       6,426      0       5,201           0      141,082      103,082       38,000       27,227

STREMEL FIELD, RUSH COUNTY, KANSAS
OCHS #1 & 3              PV-PD           0      0           0           0            0            0            0            0
URBAN -D- LEASE          PV-PD       1,717      0       1,502           0       40,750       22,540       18,210       15,804

THACKER FIELD, RUSSELL COUNTY, KANSAS
THACKER #2               PV-PD       7,837      0       6,643           0      180,184       92,628       87,556       70,566

TRAPP FIELD, BARTON COUNTY, KANSAS
DEUTSCH                  PV-PD         316      0         259           0        7,030        6,840          190          185
HOWLIER #1               PV-PD      11,894      0       9,142           0      247,959      144,150      103,809       67,609

WEBSTER FIELD, ROOKS COUNTY, KANSAS
CERROW-CERROW -A- #1     PV-PD       9,901      0       8,663           0      234,975      106,981      127,994       83,510
LOWRY #1                 PV-PD       2,533      0       2,147           0       58,248       48,112       10,136        8,653

WERTH NORTH FIELD, ELLIS COUNTY, KANSAS
SCHNELLER LEASE          PV-PD      23,898      0      19,604           0      531,736      309,657      222,079      134,363

WESTHUSIN FIELD, ROOKS COUNTY, KANSAS
DOUGHERTY EAST #1        PV-PD      14,830      0      11,367           0      308,319      148,389      159,930       68,060
DOUGHERTY EAST #1 BP     PV-BP       3,200      0       2,453           0       66,529       11,213       55,316       21,895
DOUGHERTY EAST #2 PUD    PV-UD      40,030      0      30,683           0      832,231      232,886      599,345      163,429

YOHE FIELD, ROOKS COUNTY, KANSAS
FINNESY LEASE            PV-PD      19,843      0      17,363           0      470,935      209,364      261,571      160,268
MOSHER LEASE             PV-PD      41,265      0      36,107           0      979,337      291,840      687,497      306,143

ALL FIELD, RUSH COUNTY, KANSAS
OTIS COMPRESSOR STATION  PV-PD           0      0           0           0            0    1,866,760   -1,866,760     -506,804

VARIOUS FIELD, ALL COUNTY, KANSAS
KANSAS FIXED COSTS 1PDP  PV-PD           0      0           0           0            0    6,809,084   -6,809,084   -2,736,220
KANSAS FIXED COSTS 2PBP  PV-BP           0      0           0           0            0      169,440     -169,440     -103,599
KANSAS FIXED COSTS 3PUD  PV-UD           0      0           0           0            0      958,282     -958,282     -283,607

KANSAS STATE SUMMARIES
----------------------
 PROVED PRODUCING                1,299,265  3,695   1,072,208       2,853   40,655,795   26,501,703   14,154,092    8,509,047
 PROVED BEHIND PIPE                 34,285    310      23,467         247    1,638,579      500,425    1,138,154      758,620
 PROVED UNDEVELOPED                252,708      0     212,792           0    5,771,671    2,900,755    2,870,916    1,149,625
                                 ---------  -----   ---------       -----   ----------   ----------   ----------   ----------
 TOTAL PROVED                    1,586,258  4,005   1,308,467       3,100   48,066,045   29,902,883   18,163,162   10,417,292

 PROBABLE UNDEVELOPED               68,971      0      52,167           0    1,414,952      780,565      634,387      259,925	

TABLE B
PAGE 5 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                               -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                               ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                         (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                       STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                       ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

TENNESSEE PROPERTIES
--------------------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE
ANITA COLSON #1        PV-SI           0      0           0           0        0                0            0            0
ANITA COLSON #1 BP     PV-BP      15,463     34      13,530          30      474,654       72,482      402,172      357,571
ANITA COLSON #2        PV-PD           0    221           0         193      790,276      240,000      550,276      323,487
BOBBY YEARY #1         PV-PD           0      0           0           0            0            0            0            0
BOBBY YEARY #1BP       PV-BP           0      0           0           0            0            0            0            0
BOBBY YEARY #2         PV-SI       8,048      0       3,521           0       91,869       35,600       56,269       46,185
BOBBY YEARY #3         PV-SI           0      0           0           0            0            0            0            0
CHERYL SMITH #1        PV-SI       5,140      0       2,249           0       58,678        5,200       53,478       49,701
CHERYL SMITH #2        PV-UD           0    319           0         279    1,142,570      290,298      852,272      532,049
CHEVRON REED #1        PV-SI           0      0           0           0            0            0            0            0
D. SUTTON HEIRS #1     PV-PD           0    438           0         297    1,215,827      311,400      904,427      424,107
D. SUTTON HEIRS #1 BP  PV-BP           0    206           0         140      572,106       67,071      505,035        5,268
D. SUTTON HEIRS #3     PV-UD           0  2,472           0       1,677    6,864,141      578,704    6,285,437    2,374,595
DARNELL SUTTON #1      PV-PD           0      0           0           0            0            0            0            0
DEANNA CROSS #1        PV-SI           0    230           0         101      411,899       32,333      379,566      256,810
DEANNA CROSS #1 BP     PV-BP           0    256           0         112      457,864       36,261      421,603      122,558
DEWEY SUTTON #1        PV-SI           0      0           0           0            0            0            0           0
DORIS HELTON #1        PV-PD           0     30           0          26      105,751       60,000       45,751       38,139
DORIS HELTON #1 BP1    PV-BP           0    716           0         626    2,563,334      130,019    2,433,315      745,979
DORIS HELTON #1 BP2    PV-BP           0    112           0          98      401,149       51,294      349,855       27,320
F. WELLS #1            PS-UD           0    127           0         111      454,879      227,441      227,438      136,342
FRED PORTRUM #1        PV-PD           0      7           0           6       25,324       22,800        2,524        2,326
FRED PORTRUM #2        PV-PD           0      1           0           0        1,801        1,200          601          597
GARY PATTON #2         PV-SI           0      0           0           0            0            0            0            0
GARY PATTON #2 BP1     PV-BP           0    795           0         522    2,136,122      173,707    1,962,415    1,053,647
GARY PATTON #2 BP2     PV-BP      20,616     69      13,530          45      538,170       88,308      449,862       45,857
GUY TOBEY #1           PS-UD           0    127           0         111      454,879      227,441      227,438      132,989
HAZEL SUTTON #2        PV-PD           0     47           0          41      167,771       94,800       72,971       55,210
HUGH ROBERTS #1        PV-SI           0     86           0          38      154,166        9,911      144,255      123,855
HUGH ROBERTS #1 BP     PV-BP           0    191           0          84      342,055       35,215      306,840      166,968
JEFF JOHNSON #1        PV-PD           0    108           0          47      192,754       84,300      108,454       69,161
JEFF JOHNSON #2        PV-UD           0     80           0          70      285,592      227,908       57,684       23,381
LANGE #1               PB-BP           0    169           0          11       43,161            0       43,161       26,433
LANGE #1 BP            PB-BP           0     90           0           6       23,024            0       23,024        6,535
LAURA J. LAWSON #1     PV-PD           0    131           0         115      468,953      187,204      281,749      145,314
LAURA J. LAWSON #2     PV-PD           0  1,148           0         753    3,082,767      360,000    2,722,767    1,115,810
LAURA J. LAWSON #2 BP  PV-BP           0      0           0           0            0            0            0            0
LAURA J. LAWSON #3     PV-PD           0     22           0          18       74,567       59,220       15,347       11,775
LAURA J. LAWSON #4     PV-PD           0     33           0          29      117,735       85,800       31,935       22,669
LAURA J. LAWSON #4 BP  PV-BP           0    161           0         141      577,046      299,200      277,846       30,721
LAURA J. LAWSON #5     PV-SI      19,580      0      17,132           0      447,031      127,200      319,831      211,114
PAUL REED #1           PV-PD           0    227           0         170      695,858      241,800      454,058      239,917
PAUL REED #2           PV-SI           0      0           0           0            0            0            0            0
PAUL REED #2 BP        PV-BP           0    103           0          77      316,204       57,230      258,974      210,874
PAUL REED #3           PV-PD           0     74           0          49      200,127      107,328       92,799       60,885
PAUL REED #3 BP1       PV-BP           0    402           0         264    1,079,890      197,722      882,168      118,691
PAUL REED #3 BP2       PV-BP           0     22           0          14       59,102       31,218       27,884          477
PAUL REED #4           PV-PD           0    545           0         477    1,952,250      248,252    1,703,998      815,813
PAUL REED #4 BP1       PV-BP           0    691           0         604    2,473,805      131,600    2,342,205       49,493
PAUL REED #4 BP2       PV-BP           0      0           0           0            0            0            0            0
PAUL REED #5           PV-PD      38,504      0      33,691           0      879,100      128,000      751,100      566,283
PAUL REED #6           PV-PD           0     60           0          52      214,774      114,600      100,174       72,123
PAUL REED #6 BP        PV-BP      11,697      0      10,235           0      267,068       44,123      222,945       38,409
PAUL REED #7           PV-PD           0    360           0         315    1,289,923      321,600      968,323      436,842
PAUL REED #7 BP1       PV-BP           0    148           0         130      530,922       58,400      472,522        4,542
PAUL REED #7 BP2       PV-BP           0      0           0           0            0            0            0            0
PAUL REED #8           PV-BP      34,968      0      30,597           0      798,359       53,867      744,492      642,078
PAUL REED #8 BP        PV-BP           0    402           0         352    1,440,111      177,741    1,262,370      365,999
PAUL REED #9           PV-UD           0    716           0         626    2,563,995      441,158    2,122,837      891,240
PURKEY #1              PV-PD           0      5           0           2        8,062        7,500          562          526
PURKEY #2              PV-SI           0      0           0           0            0            0            0            0
PURKEY #3              PV-PD           0    157           0          69      280,633      117,900      162,733       88,574
PURKEY #3 BP1          PV-BP           0    256           0         112      458,843       54,220      404,623       10,245
PURKEY #3 BP2          PV-BP           0     95           0          42      170,122       22,996      147,126        1,403
PURKEY #4              PV-UD           0    281           0         123      503,232      126,803      376,429      246,466
PURKEY #5              PV-UD           0    300           0         131      537,259      130,746      406,513      265,509
RAY DEAN HELTON #1     PV-PD           0      0           0           0            0            0            0            0
RAY DEAN HELTON #1 BP  PV-BP           0    116           0         102      415,703       78,606      337,097      241,111	

TABLE B
PAGE 6 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                               -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                               ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                         (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                       STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                       ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT'D)
RAY DEAN HELTON #2     PV-SI      15,479      0       6,772           0      176,703       12,192      164,511      146,192
RAY DEAN HELTON #2 BP1 PV-BP           0    166           0          72      296,752       25,381      271,371      159,445
RAY DEAN HELTON #2 BP2 PV-BP           0     34           0          15       60,886       14,651       46,235       18,085
RAY DEAN HELTON #3     PV-SI          39      0          17           0          444          400           44           44
RAY DEAN HELTON #4     PV-UD           0    500           0         438    1,790,862      335,141    1,455,721      797,588
RAY DEAN HELTON #6     PV-UD           0    500           0         438    1,790,862      335,141    1,455,721      734,070
ROSE #1                PV-SI           0      0           0           0            0            0            0            0
STEPHEN LAWSON #1      PV-PD       5,472      0       2,394           0       62,467       35,353       27,114       21,951
STEPHEN LAWSON #2      PV-SI           0      0           0           0            0            0            0            0
STEPHEN LAWSON #3      PV-PD           0    144           0          94      385,838      169,200      216,638      137,480
STEPHEN LAWSON #3 BP   PV-BP      38,665     26      25,374          17      731,862       93,738      638,124       55,279
STEPHEN LAWSON #4      PV-PD           0      7           0           4       17,932       15,000        2,932        2,756
STEPHEN LAWSON #4 BP   PV-BP      12,785      9       8,390           6      241,999       61,000      180,999      133,299
STEPHEN LAWSON #5      PV-PD           0    153           0         100      410,697      169,200      241,497      158,916
STEPHEN LAWSON #5 BP   PV-BP           0    689           0         452    1,850,735      142,747    1,707,988      105,099
STEPHEN LAWSON #6      PV-UD           0    776           0         509    2,084,564      378,336    1,706,228      798,300
STEPHEN LAWSON #7      PV-UD           0    600           0         394    1,611,776      352,042    1,259,734      605,793
T.J. HARRISON #1       PV-SI           0      0           0           0            0            0            0            0
WARREN REED #1         PV-SI           0     68           0          59      242,927       21,620      221,307      173,731
WARREN REED #1 BP      PV-BP           0    383           0         335    1,371,801       83,793    1,288,008      673,415
WARREN REED #2         PV-PD           0  1,055           0         824    3,372,848      307,982    3,064,866    1,395,413
WARREN REED #2 BP1     PV-BP           0  1,139           0         890    3,643,753       91,600    3,552,153       39,247
WARREN REED #2 BP2     PV-BP           0      0           0           0            0            0            0            0
WELLS/YEARY #1         PV-PD           0    131           0          57      235,132       96,600      138,532       80,321
WOODROW DAVIS #1       PV-SI           0    281           0         123      503,951       74,053      429,898      233,895
LOCATION # 4           PV-UD           0    511           0         447    1,830,261      289,047    1,541,214      974,545
LOCATION # 5           PV-UD           0    957           0         837    3,427,708      352,495    3,075,213    1,754,737
LOCATION # 8           PV-UD           0  1,408           0       1,232    5,043,069      405,527    4,637,542    2,316,318
LOCATION #12           PV-UD           0    255           0         223      913,339      252,268      661,071      428,710
LOCATION #13           PV-UD           0    255           0         223      913,339      252,268      661,071      428,710
LOCATION #14           PV-UD           0    127           0         111      454,879      227,441      227,438      155,702
LOCATION #15           PV-UD           0    128           0         112      458,461      227,657      230,804      157,989
LOCATION #16           PV-UD           0    217           0         190      777,234      244,479      532,755      343,848
LOCATION #17           PV-UD           0    383           0         335    1,371,801      276,888    1,094,913      632,540
LOCATION #19           PV-UD           0    255           0         223      913,339      251,192      662,147      420,244
LOCATION #20           PV-UD           0    255           0         223      913,339      251,192      662,147      420,244
LOCATION #24           PV-UD           0    128           0         112      458,461      227,657      230,804      152,831
LOCATION #25           PV-UD           0    128           0         112      458,461      227,657      230,804      149,073
LOCATION #26           PV-UD           0    128           0         112      458,461      227,657      230,804      149,073
LOCATION #27           PV-UD           0    140           0         123      501,442      230,250      271,192      174,604
LOCATION #29           PV-UD           0    128           0         112      458,461      227,657      230,804      149,073
LOCATION #32           PV-UD           0    191           0         167      684,109      238,344      445,765      306,017
LOCATION #33           PV-UD           0    421           0         368    1,507,906      282,996    1,224,910      653,151
LOCATION #34           PV-UD           0    383           0         335    1,371,800      275,505    1,096,295      600,219
LOCATION #35           PV-UD           0    383           0         335    1,371,800      275,505    1,096,295      580,621
LOCATION #36           PV-UD           0    511           0         447    1,830,261      296,492    1,533,769      771,131
LOCATION #38           PV-UD           0    319           0         279    1,142,570      265,386      877,184      474,353
LOCATION #39           PV-UD           0    357           0         312    1,278,676      273,175    1,005,501      528,266
LOCATION #40           PV-UD           0    357           0         312    1,278,676      273,175    1,005,501      515,276
LOCATION #41           PV-UD           0    128           0         112      458,461      227,657      230,804      134,943
LOCATION #42           PV-UD           0    257           0         225      920,503      250,665      669,838      378,548
LOCATION #43           PV-UD           0    128           0         112      458,461      227,657      230,804      134,943
LOCATION #44           PV-UD           0    128           0         112      458,461      227,657      230,804      134,943
LOCATION #45           PV-UD           0    128           0         112      458,461      227,657      230,804      143,014
LOCATION #46           PV-UD           0    140           0         123      501,442      230,250      271,192      151,629
LOCATION #47           PV-UD           0    191           0         167      684,109      240,108      444,001      244,289
LOCATION #48           PV-UD           0    191           0         167      684,109      240,108      444,001      244,289
LOCATION #49           PV-UD           0    128           0         112      458,461      227,657      230,804      129,458
LOCATION #50           PV-UD           0    191           0         167      684,109      239,150      444,959      239,701
LOCATION #51           PV-UD           0    128           0         112      458,461      227,657      230,804      125,231
LOCATION #53           PV-UD           0    128           0         112      458,461      227,657      230,804      125,231
LOCATION #54           PS-UD           0    191           0         167      684,109      238,344      445,765      261,377
LOCATION #55           PS-UD           0    191           0         167      684,109      238,344      445,765      261,377
LOCATION #56           PS-UD           0    191           0         167      684,109      238,344      445,765      250,753
LOCATION #57           PS-UD           0    318           0         278    1,138,989      262,691      876,298      454,784
LOCATION #58           PS-UD           0    191           0         167      684,109      238,344      445,765      250,753
LOCATION #59           PS-UD           0    255           0         223      913,339      251,192      662,147      355,974
LOCATION #60           PS-UD           0    255           0         223      913,339      251,192      662,147      355,974
LOCATION #61           PS-UD           0    191           0         167      684,110      241,269      442,841      232,228
LOCATION #62           PS-UD           0    128           0         112      458,461      227,657      230,804      125,231
LOCATION #63           PS-UD           0    127           0         111      454,879      227,441      227,438      123,418
LOCATION #65           PS-UD           0    127           0         111      454,879      227,441      227,438      123,418	

TABLE B
PAGE 7 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002

                             -------ESTIMATED REMAINING RESERVES-------  ------------ESTIMATED FUTURE DOLLARS--------------
                             ----100% GROSS-----  ---------NET---------   GROSS REV.              --NET INCOME BEFORE FIT--
                       (A)    (BARRELS)   (MMCF)  (BARRELS)     (MMCF)   AFTER PROD.    TOTAL                   DISCOUNTED
                     STATUS  OIL/COND(B)   GAS   OIL/COND(B)  SALES GAS     TAXES     DEDUCTIONS  UNDISCOUNTED   AT 10.0%
                     ------  -----------  ------ -----------  ---------  -----------  ----------  ------------  -----------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT'D)
LOCATION #67         PS-UD             0    127           0         111      454,879      227,441      227,438      120,384
LOCATION #68         PV-UD             0    127           0         111      454,879      227,441      227,438      120,384
LOCATION #69         PV-UD             0    127           0         111      454,879      227,441      227,438      120,384
LOCATION #70         PV-UD             0    127           0         111      454,879      227,441      227,438      115,491
LOCATION #71         PV-UD             0    127           0         111      454,879      227,441      227,438      115,491
LOCATION #72         PV-UD             0    127           0         111      454,879      227,441      227,438      115,491

TENNESSEE STATE SUMMARIES
-------------------------
 PROVED PRODUCING                 43,976  5,104      36,085       3,740   16,249,167    3,587,039   12,662,128    6,286,395
 PROVED SHUT-IN                   48,286    665      29,691         321    2,087,668      318,509    1,769,159    1,241,527
 PROVED BEHIND PIPE              134,194  7,221     101,656       5,281   24,270,417    2,374,190   21,896,227    5,423,080
 PROVED UNDEVELOPED                    0 17,370           0      14,157   57,950,600   13,479,272   44,471,328   23,279,726
                                 ------- ------   ------ --      ------  -----------   ----------   ----------   ----------
 TOTAL PROVED                    226,456 30,360     167,432      23,499  100,557,852   19,759,010   80,798,842   36,230,728

 PROBABLE BEHIND PIPE                  0    259           0          16       66,185            0       66,185       32,968

 POSSIBLE UNDEVELOPED                  0  2,546           0       2,228    9,119,069    3,324,582    5,794,487    3,185,002

GRAND SUMMARIES
---------------
 PROVED PRODUCING              1,343,241  8,799   1,108,293       6,593   56,904,962   30,088,742   26,816,220   14,795,442
 PROVED SHUT-IN                   48,286    665      29,691         321    2,087,668      318,509    1,769,159    1,241,527
 PROVED BEHIND PIPE              168,479  7,531     125,123       5,528   25,908,996    2,874,615   23,034,381    6,181,700
 PROVED UNDEVELOPED              252,708 17,370     212,792      14,157   63,722,271   16,380,027   47,342,244   24,429,351
                               --------- ------   ---------      ------  -----------   ----------   ----------   ----------
 TOTAL PROVED                  1,812,714 34,365   1,475,899      26,599  148,623,897   49,661,893   98,962,004   46,648,020

 PROBABLE BEHIND PIPE                  0    259           0          16       66,185            0       66,185       32,968
 PROBABLE UNDEVELOPED             68,971      0      52,167           0    1,414,952      780,565      634,387      259,925
                               --------- ------   ---------      ------  -----------   ----------   ----------   ----------
 TOTAL PROBABLE                   68,971    259      52,167          16    1,481,137      780,565      700,572      292,893

 POSSIBLE UNDEVELOPED                  0  2,546           0       2,228    9,119,069    3,324,582    5,794,487    3,185,002	

(A) RESERVE TYPES: PV = PROVED    STATUS: PD = PRODUCING      DP = DEPLETED
                   PB = PROBABLE          BP = BEHIND PIPE    NP = NON-PRODUCING
                   PS = POSSIBLE          SI = SHUT IN        PB = PAYBACK
                                          UD = UNDEVELOPED
(B) EXCLUDES PLANT PRODUCTS	

TABLE C
PAGE 1 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

ARPIN SOUTH FIELD,
ROOKS COUNTY, KANSAS
--------------------

THYFAULT #1             OIL   PV-PD      1   8  9S  20W   1.000000  0.820313    27.29    0.0000   N/A    821.

ASH CREEK FIELD,
BARTON COUNTY, KANSAS
---------------------

UNRUH #2                OIL   PV-PD      0   30-20S-15W   0.812500  0.710938     0.00    0.0000   N/A      0.

AXELSON FIELD,
ROOKS COUNTY, KANSAS
--------------------

AXELSON LEASE           OIL   PV-PD      2  24  7S  19W   1.000000  0.792969    27.29    0.0000   N/A    684.

BEISEL FIELD,
RUSSELL COUNTY, KANSAS
----------------------

BEISEL LEASE            OIL   PV-PD      5  15 14S  12W   1.000000  0.875000    27.29    0.0000   N/A   3495.

BEISEL #9 PUD           OIL   PV-UD      1  15 14S  12W   1.000000  0.875000    27.29    0.0000   N/A    699.

BIELMAN FIELD,
ELLIS COUNTY, KANSAS
--------------------

GRASS #5                OIL   PV-PD      1  24 15S  18W   1.000000  0.875000    27.29    0.0000   N/A   1177.

CARPENTER FIELD,
EDWARDS COUNTY, KANSAS
----------------------

HENNING #1              OIL   PV-PD      1   1 24S  17W   0.875000  0.708801    27.29    0.0000   N/A    342.

CARROLL FIELD,
BARTON COUNTY, KANSAS
---------------------

KEENAN -B- LEASE        OIL   PV-PD      2  21 17S  14W   0.992754  0.868660    27.29    0.0000   N/A   1404.

CENTERVIEW FIELD,
STAFFORD COUNTY, KANSAS
-----------------------

BECKERDITE #1           OIL   PV-PD      1  21 24S  13W   0.937500  0.807495    27.29    0.0000   N/A   1236.

CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS
---------------------

LANDER #1               OIL   PV-PD      1   10-20S-11W   0.915630  0.741803    27.29    0.0000   N/A   1216.

LANDER #3 PBUD          OIL   PB-UD      1   10-20S-11W   0.915630  0.741803    27.29    0.0000   N/A   1216.

ROSE LEASE              OIL   PV-PD      3   3 20S  11W   1.000000  0.875000     0.00    0.0000   N/A   5283.

CHEYENNE FIELD,
BARTON COUNTY, KANSAS
---------------------

HAMMEKE #1              OIL   PV-PD      1   2 19S  12W   1.000000  0.833984    27.29    0.0000   N/A    846.	

TABLE C
PAGE 2 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

CONVERSE FIELD,
BARTON COUNTY, KANSAS
---------------------

IANNITTI LEASE          OIL   PV-PD      6  19 20S  15W   1.000000  0.875000    27.29    0.0000   N/A   2370.

IANNITTI #9 PUD         OIL   PV-UD      1  19 20S  15W   1.000000  0.875000    27.29    0.0000   N/A    395.

COOPER FIELD,
GRAHAM COUNTY, KANSAS
---------------------

DEYOUNG LEASE           OIL   PV-PD      2   4 10S  21W   1.000000  0.875000    27.29    0.0000   N/A   2876.

LEWIS LEASE             OIL   PV-PD      2   9 10S  21W   1.000000  0.875000    27.29    0.0000   N/A    740.

DAVIDSON FIELD,
RUSSELL COUNTY, KANSAS
----------------------

FOSTER LEASE            OIL   PV-PD      4  33 15S  11W   1.000000  0.847656    27.29    0.0000   N/A   2420.

DISTRICT 57 FIELD,
ELLIS COUNTY, KANSAS
--------------------

FLAX #1                 OIL   PV-PD      1  28 12S  20W   1.000000  0.875000    27.29    0.0000   N/A    574.

DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS
---------------------

BARSTOW #1              OIL   PV-PD      1  14 22S  15W   0.937500  0.769043     0.00    0.0000   N/A   1725.

LOVETT #1               OIL   PV-PD      1  15 22S  15W   0.937000  0.768633     0.00    0.0000   N/A   1897.

ELLIS NW FIELD,
TREGO COUNTY, KANSAS
--------------------

BAUGHER #1              OIL   PV-PD      1  23 12S  21W   1.000000  0.765630    27.29    0.0000   N/A   1058.

FICKEN FIELD,
RUSH COUNTY, KANSAS
-------------------

SCHWINDT FARMS #1       OIL   PV-PD      1  23 17S  18W   1.000000  0.820313     0.00    0.0000   N/A    665.

GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS
-----------------------

HOFFMAN #1              OIL   PV-PD      1  22 21S  13W   0.687500  0.556915     0.00    0.0000   N/A   1672.

SCHULZ LEASE            OIL   PV-PD      2  22 21S  13W   0.687500  0.554449    27.29    0.0000   N/A   2796.

GIESICK FIELD,
RUSH COUNTY, KANSAS
-------------------

GIESICK #2              GAS   PV-PD      1   19-17S-17W   1.000000  0.875000     0.00    4.1300  1000   109.

GOTTSCHALK FIELD,
ELLIS COUNTY, KANSAS
--------------------

WERTH #1                GAS   PV-PD      0   36-15S-18W   1.000000  0.875000     0.00    0.0000   N/A      0.

HERMAN FIELD,
BARTON COUNTY, KANSAS
---------------------

H. KARST LEASE          OIL   PV-PD      2   18-16S-14W   0.812500  0.702051    27.29    0.0000   N/A   1838.	

TABLE C
PAGE 3 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

HOBROCK FIELD,
OSBORNE COUNTY, KANSAS
----------------------

HOBROCK #4              OIL   PV-PD      1   3 10S  15W   0.593750  0.481947    27.29    0.0000   N/A    363.

HOGAN LEASE             OIL   PV-PD      3  10 10S  15W   0.593750  0.480972    27.29    0.0000   N/A   1929.

IRVIN FIELD,
ELLIS COUNTY, KANSAS
--------------------

KINDERKNECHT -B- LEASE  OIL   PV-PD      2   8 14S  19W   1.000000  0.875000    27.29    0.0000   N/A   2956.

KRAUS FIELD,
ELLIS COUNTY, KANSAS
--------------------

KRAUS -A- LEASE         OIL   PV-PD      3  22 14S  19W   1.000000  0.820310    27.29    0.0000   N/A   1545.

KRAUS -B- LEASE         OIL   PV-PD      2  16 14S  19W   1.000000  0.875000    27.29    0.0000   N/A    824.

KRAUS -I- LEASE         OIL   PV-PD      2  27 14S  19W   1.000000  0.820313    27.29    0.0000   N/A   1820.

LEIKER EAST FIELD,
ELLIS COUNTY, KANSAS
--------------------

LEIKER #1               OIL   PV-PD      1  14 15S  18W   0.416670  0.364590    27.29    0.0000   N/A    645.

LEONHARDT SOUTHEAST FIELD,
ELLIS COUNTY, KANSAS
--------------------------

KRAUS LEASE             OIL   PV-PD      2  28 14S  18W   1.000000  0.792969    27.29    0.0000   N/A   1298.

LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS
-------------------

DECHANT -B- #2          GAS   PV-PD      0  23 16S  18W   1.000000  0.875000     0.00    0.0000   N/A      0.

GRAHAM #1               GAS   PV-PD      1   23-16S-18W   1.000000  0.875000     0.00    0.0000   N/A   3416.

LEGLEITER -B- #1        GAS   PV-PD      1  26 16S  18W   1.000000  0.875000     0.00    4.1300   1000   157.

LEGLEITER -C- #1        GAS   PV-PD      0  24 16S  18W   1.000000  0.875000     0.00    0.0000   N/A      0.

LEGLEITER -C- #2        GAS   PV-PD      1   24-16S-18W   1.000000  0.875000     0.00    0.0000   N/A   1193.

LITTLE RIO FIELD,
RICE COUNTY, KANSAS
-------------------

WHITEMAN-HOLLAND LEASE  OIL   PV-PD      3   19-19S-6W    1.000000  0.820313    27.29    0.0000   N/A   1653.

MARCOTTE FIELD,
ROOKS COUNTY, KANSAS
--------------------

CROFFOOT LEASE          OIL   PV-PD      4  11 10S  20W   1.000000  0.861328    27.29    0.0000   N/A   4888.

CROFFOOT -A- LEASE      OIL   PV-PD      3  11 10S  20W   1.000000  0.860369    27.29    0.0000   N/A    738.

CROFFOOT -B- LEASE      OIL   PV-PD      6  11 10S  20W   1.000000  0.820313    27.29    0.0000   N/A   6072.

CROFFOOT -C- LEASE      OIL   PV-PD      2  11 10S  20W   1.000000  0.806641    27.29    0.0000   N/A   1214.

DICK LEASE              OIL   PV-PD      3  17 10S  19W   1.000000  0.875000    27.29    0.0000   N/A   2124.	

TABLE C
PAGE 4 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

MCHALE FIELD,
ROOKS COUNTY, KANSAS
--------------------

HARRISON -A- LEASE      OIL   PV-PD      4  17  9S  18W   1.000000  0.875000    27.29    0.0000   N/A   1996.

HILGERS -B- LEASE       OIL   PV-PD      3  17  9S  18W   1.000000  0.875000    27.29    0.0000   N/A   1257.

KABA #2                 OIL   PV-PD      1   16-9S-18W    1.000000  0.847656     0.00    0.0000   N/A    547.

OMLOR FIELD,
STAFFORD COUNTY, KANSAS
-----------------------

MILLER #1               OIL   PV-PD      1  11 22S  14W   0.875000  0.708801    27.29    0.0000   N/A    439.

WILLIAMS #1             OIL   PV-PD      1  11 22S  14W   0.875000  0.715210    27.29    0.0000   N/A    496.

OTIS-ALBERT FIELD,
RUSH COUNTY, KANSAS
------------------

HARTMAN -C- #1          GAS   PV-PD      0   2-18S-16W    1.000000  0.820313     0.00    0.0000   N/A      0.

PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS
---------------------

STAHL LEASE             OIL   PV-PD      4  21  9S  18W   1.000000  0.843750    27.29    0.0000   N/A   3504.

STAHL #7 PUD            OIL   PV-UD      1  21  9S  18W   1.000000  0.843750    27.29    0.0000   N/A    876.

PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS
---------------------

O'SCHULTZ #1            OIL   PV-PD      1   13-20S-16W   0.937500  0.820313     0.00    0.0000   N/A   1594.

OETKIN LEASE            OIL   PV-PD      2  24 20S  16W   0.937500  0.794678    27.29    0.0000   N/A   2964.

OETKIN #8 PBUD          OIL   PB-UD      1  24 20S  16W   0.937500  0.794678    27.29    0.0000   N/A   1482.

PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS
--------------------

ANDERSON -A- #1         OIL   PV-PD      1  12 10S  18W   1.000000  0.875000    27.29    0.0000   N/A    283.

BARDOT #1               OIL   PV-PD      0  12 10S  18W   1.000000  0.875000     0.00    0.0000   N/A      0.

GARVERT -A- #1          OIL   PV-PD      1  18 10S  17W   1.000000  0.875000    27.29    0.0000   N/A     62.

GARVERT -B- #1          OIL   PV-PD      1  13 10S  18W   1.000000  0.875000    27.29    0.0000   N/A    131.

HARRISON -C- LEASE      OIL   PV-PD      2  12 10S  18W   1.000000  0.875000    27.29    0.0000   N/A    622.

JACO LEASE              OIL   PV-PD      4  13 10S  18W   1.000000  0.875000    27.29    0.0000   N/A   1108.

ROSS LEASE              OIL   PV-PD      2  12 10S  18W   1.000000  0.875000    27.29    0.0000   N/A    624.

PLEASANT FIELD,
RUSH COUNTY, KANSAS
-------------------

BASGALL -C- #4          GAS   PV-PD      0  10 16S  17W   1.000000  0.875000     0.00    0.0000   N/A      0.	

TABLE C
PAGE 5 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

PLEASANT FIELD,
ELLIS COUNTY, KANSAS
--------------------

HONAS #3                OIL   PV-PD      1   22-13S-20W   1.000000  0.820310    27.29    0.0000   N/A    623.

PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS
--------------------

URBAN -K- #5            OIL   PV-PD      1   10-16S-17W   1.000000  0.875000    27.29    0.0000   N/A    145.

URBAN -K- #5 BP         GAS   PV-BP      1   10-16S-17W   1.000000  0.875000     0.00    4.1300   1000   145.

PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS
-----------------------

URBAN #1, 2 & 5         OIL   PV-PD      3   10-16S-17W   1.000000  0.875000    27.29    0.0000   N/A    828.

URBAN #6 PUD            OIL   PV-UD      1   10-16S-17W   1.000000  0.875000    27.29    0.0000   N/A    276.

URBAN #7 PUD            OIL   PV-UD      1   10-16S-17W   1.000000  0.875000    27.29    0.0000   N/A    276.

REICHEL FIELD,
RUSH COUNTY, KANSAS
-------------------

ALLEN #1 A&D            GAS   PV-PD      1   33-16S-16W   1.000000  0.875000     0.00    4.1300   1000   264.

ANDRE #1                OIL   PV-PD      1   28-16S-16W   1.000000  0.875000     0.00    0.0000   N/A   1644.

APPL #1                 GAS   PV-PD      1  10 17S  17W   1.000000  0.875000     0.00    4.1300   1000   106.

APPL #2                 GAS   PV-PD      1  10 17S  17W   1.000000  0.820313     0.00    4.1300   1000    94.

BEAHM #1                GAS   PV-PD      1  36 17S  17W   1.000000  0.820313     0.00    0.0000   N/A    641.

BIEBER #1               GAS   PV-PD      1   15-17S-17W   1.000000  0.820313     0.00    4.1300   1000   403.

BIEBER -A- #1           GAS   PV-PD      1   15-17S-17W   1.000000  0.820313     0.00    4.1300   1000   149.

BRACK -A- #3            GAS   PV-PD      1   34-17S-16W   1.000000  0.875000     0.00    4.1300   1000   122.

BREIT #1                GAS   PV-PD      1   7-16S-17W    1.000000  0.875000     0.00    4.1300   1000    84.

BREIT-HOLZMEISTER -B-   OIL   PV-PD      1   7-16S-17W    1.000000  0.861328    27.29    0.0000   N/A     84.

DECKER -A- #1           GAS   PV-PD      1   8 17S  16W   1.000000  0.868164     0.00    4.1300   1000   267.

EDWARDS #1              GAS   PV-PD      1   35-16S-17W   1.000000  0.875000     0.00    4.1300   1000   127.

ELDER #19               GAS   PV-PD      1   19-17S-16W   1.000000  0.875000     0.00    0.0000   N/A    629.

FOOS #1                 GAS   PV-PD      1   25-17S-17W   1.000000  0.820313     0.00    4.1300   1000   352.

FOOS -A- #1             GAS   PV-PD      1  22 17S  17W   1.000000  0.820313     0.00    4.1300   1000   416.

FRYE #2                 GAS   PV-PD      1   4 17S  17W   1.000000  0.875000     0.00    4.1300   1000    45.

GIESICK #1              GAS   PV-PD      1  19 17S  16W   1.000000  0.875000     0.00    4.1300   1000   955.

GILLIG #1               GAS   PV-PD      1  24 17S  17W   1.000000  0.875000     0.00    4.1300   1000    22.

GRUMBEIN -A- #1         GAS   PV-PD      1   9 17S  17W   1.000000  0.875000     0.00    4.1300   1000    67.

HANHARDT #1             GAS   PV-PD      1  24 17S  17W   1.000000  0.820313     0.00    4.1300   1000    82.	

TABLE C
PAGE 6 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

REICHEL FIELD, RUSH COUNTY, KANSAS (CONT.)
------------------------------------------

HANHARDT -A- #1         GAS   PV-PD      1  24 17S  17W   1.000000  0.820313     0.00    4.1300   1000   226.

HANHARDT -A- #1BP       GAS   PV-BP      1  24 17S  17W   1.000000  0.820313     0.00    4.1300   1000     0.

HOFFMAN #3              GAS   PV-PD      1  29 16S  17W   1.000000  0.820313     0.00    4.1300   1000    53.

HOLZMEISTER #1          GAS   PV-PD      1   8 16S  17W   1.000000  0.847656     0.00    0.0000   N/A   2266.

HOLZMEISTER -A- #1      GAS   PV-PD      0   27-16S-17W   1.000000  0.847656     0.00    0.0000   N/A      0.

HOLZMEISTER -B- #1      GAS   PV-PD      1   7-16S-17W    1.000000  0.861328     0.00    0.0000   N/A    132.

HONDERICK -C- #1        GAS   PV-PD      1  10 17S  17W   1.000000  0.875000     0.00    4.1300   1000    70.

HOOFER #1               GAS   PV-PD      0  19 16S  17W   1.000000  0.861328     0.00    0.0000   N/A      0.

JANSON -A- #2           GAS   PV-PD      0   7 17S  16W   1.000000  0.875000     0.00    0.0000   N/A      0.

KAISER #2               GAS   PV-PD      1   2 17S  17W   1.000000  0.875000     0.00    4.1300   1000   112.

KAISER -A- #1           OIL   PV-PD      1  28 16S  16W   1.000000  0.875000    27.29    0.0000   N/A    257.

KLEWENO #1-21           GAS   PV-PD      1   25-17S-17W   1.000000  0.820313     0.00    4.1300   1000     1.

KLEWENO -A- #1          GAS   PV-PD      1   23-17S-17W   1.000000  0.875000     0.00    4.1300   1000   144.

KOBER #1                GAS   PV-PD      1   6 18S  16W   1.000000  0.875000     0.00    4.1300   1000   219.

LEBSACK -A- #1          GAS   PV-PD      1   21-17S-17W   1.000000  0.783854     0.00    0.0000   N/A   3314.

LIPPERT #2              GAS   PV-PD      0  19 16S  17W   1.000000  0.861328     0.00    0.0000   N/A      0.

LIPPERT #3              GAS   PV-PD      1  19 16S  17W   1.000000  0.875000     0.00    4.1300   1000   500.

LIPPERT #3 BP           GAS   PV-BP      1   19-16S-17W   1.000000  0.875000     0.00    4.1300   1000     0.

LIPPERT -B- #1          GAS   PV-PD      0  29 16S  17W   1.000000  0.755625     0.00    0.0000   N/A      0.

LIPPERT -B- #2          GAS   PV-PD      1  29 16S  17W   1.000000  0.755625     0.00    4.1300   1000     0.

LIPPERT -C- #1          GAS   PV-PD      1  32 16S  17W   1.000000  0.765625     0.00    4.1300   1000    19.

MCGILL #2               GAS   PV-PD      0   3 17S  17W   1.000000  0.875000     0.00    0.0000   N/A      0.

O'DELL #1               GAS   PV-PD      1  34 16S  17W   1.000000  0.861328     0.00    0.0000   N/A    300.

OCHS -A- #1             GAS   PV-PD      1  28 16S  16W   1.000000  0.875000     0.00    4.1300   1000    90.

PFEIFER -B- #1          GAS   PV-PD      0   8-16S-17W    1.000000  0.875000     0.00    0.0000   N/A      0.

RAU #1                  GAS   PV-PD      1  10 17S  17W   1.000000  0.820313     0.00    4.1300   1000   207.

REICHEL #1              GAS   PV-PD      1   23-17S-17W   1.000000  0.875000     0.00    4.1300   1000   417.

ROTHE #1-31             GAS   PV-PD      1  31 17S  16W   1.000000  0.875000     0.00    4.1300   1000  1267.

ROTHE, R. #1            GAS   PV-PD      1  20 17S  16W   1.000000  0.820313     0.00    4.1300   1000   182.

SCHEUERMAN #56          GAS   PV-PD      1   4 17S  17W   1.000000  0.875000     0.00    4.1300   1000    34.	

TABLE C
PAGE 7 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

REICHEL FIELD, RUSH COUNTY, KANSAS (CONT.)
------------------------------------------

SCHLITTER #2            GAS   PV-PD      1  18 16S  17W   1.000000  0.861328     0.00    4.1300   1000   221.

SCHNEIDER #1            GAS   PV-PD      1   13-17S-17W   1.000000  0.820313     0.00    4.1300   1000   167.

SHERWOOD #1             GAS   PV-PD      1  25 16S  17W   1.000000  0.792969     0.00    4.1300   1000   105.

STEITZ -A- #1           GAS   PV-PD      1   11-17S-17W   1.000000  0.875000     0.00    4.1300   1000   435.

STEITZ -B- #1           GAS   PV-PD      1   14-17S-17W   1.000000  0.820313     0.00    4.1300   1000   862.

THIELENHAUS #1          GAS   PV-PD      1  14 17S  17W   1.000000  0.875000     0.00    4.1300   1000    57.

THIELENHAUS #1 BP       GAS   PV-BP      1  14 17S  17W   1.000000  0.875000     0.00    4.1300   1000     0.

TORREY #2               GAS   PV-PD      1   19-16S-17W   1.000000  0.861328     0.00    4.1300   1000   193.

URBAN R & A #1          GAS   PV-PD      1   20-16S-17W   1.000000  0.875000     0.00    4.1300   1000    66.

REICHEL EAST FIELD,
RUSH COUNTY, KANSAS
-------------------

BAHR #1                 GAS   PV-PD      1  35 17S  18W   1.000000  0.875000     0.00    4.1300   1000    78.

REICHEL WEST FIELD,
RUSH COUNTY, KANSAS
-------------------

LEGLEITER -A- #1-1      GAS   PV-PD      1   11-17S-18W   1.000000  0.738281     0.00    4.1300   1000   960.

LEGLEITER -A- #1-2      GAS   PV-PD      0   11-17S-18W   1.000000  0.738281     0.00    0.0000   N/A      0.

MUTH #1 & 2             GAS   PV-PD      2   1 17S  18W   1.000000  0.722656     0.00    4.1300   1000   833.

RIDGEWAY SOUTH FIELD,
TREGO COUNTY, KANSAS
---------------------

SCHOENTHALER #3         OIL   PV-PD      1  34 12S  21W   1.000000  0.820313    27.29    0.0000   N/A    939.

RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS
---------------------

KELLER LEASE            OIL   PV-PD      2   9 13S  21W   1.000000  0.875000    27.29    0.0000   N/A    396.

KELLER -A- LEASE        OIL   PV-PD      3   9 13S  21W   1.000000  0.875000    27.29    0.0000   N/A   2208.

RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS
----------------------

MAIER #1                OIL   PV-PD      1  16 10S  15W   0.812500  0.676025     0.00    0.0000   N/A   1638.

MAIER #1 BP             OIL   PV-BP      1  16 10S  15W   0.812500  0.676025    27.29    0.0000   N/A   1638.

SANDFORD FIELD,
BARTON COUNTY, KANSAS
---------------------

BEN TEMPERO #1          OIL   PV-PD      1   26-17S-14W   1.000000  0.820312    27.29    0.0000   N/A   1159.

BEN TEMPERO #5 PUD      OIL   PV-UD      1   26-17S-14W   1.000000  0.820312    27.29    0.0000   N/A   1159.	

TABLE C
PAGE 8 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SCHWINDT FIELD,
RUSH COUNTY, KANSAS
-------------------

JACOBS -B- #3           OIL   PV-PD      1  30 17S  18W   1.000000  0.875000    27.29    0.0000   N/A    879.

SPRING CREEK FIELD,
TREGO COUNTY, KANSAS
-------------------

RIDGWAY #1              OIL   PV-PD      1  32 12S  21W   1.000000  0.779300    27.29    0.0000   N/A   1538.

STOCKTON FIELD,
ROOKS COUNTY, KANSAS
--------------------

HINDMAN #1              OIL   PV-PD      1  35  7S  17W   1.000000  0.809370    27.29    0.0000   N/A    608.

STEBBINS #1             OIL   PV-PD      1  26  7S  17W   0.925000  0.751570    27.29    0.0000   N/A    579.

WATTS #1                OIL   PV-PD      1  26  7S  17W   0.925000  0.809380    27.29    0.0000   N/A    796.

STREMEL FIELD,
RUSH COUNTY, KANSAS
-------------------

OCHS #1 & 3             OIL   PV-PD      2  30 16S  16W   1.000000  0.875000     0.00    0.0000   N/A   1192.

URBAN -D- LEASE         OIL   PV-PD      2   30-16S-16W   1.000000  0.875000    27.29    0.0000   N/A    478.

THACKER FIELD,
RUSSELL COUNTY, KANSAS
----------------------

THACKER #2              OIL   PV-PD      1   29-13S-13W   1.000000  0.847656    27.29    0.0000   N/A    996.

TRAPP FIELD,
BARTON COUNTY, KANSAS
---------------------

DEUTSCH                 OIL   PV-PD      1  16 16S  13W   1.000000  0.820313    27.29    0.0000   N/A    760.

HOWLIER #1              OIL   PV-PD      1   8 16S  13W   0.937000  0.768633    27.29    0.0000   N/A    793.

WEBSTER FIELD,
ROOKS COUNTY, KANSAS
--------------------

CERROW-CERROW -A- #1    OIL   PV-PD      1  33  8S  19W   1.000000  0.875000    27.29    0.0000   N/A    527.

LOWRY #1                OIL   PV-PD      1  33  8S  19W   1.000000  0.847656    27.29    0.0000   N/A    776.

WERTH NORTH FIELD,
ELLIS COUNTY, KANSAS
--------------------

SCHNELLER LEASE         OIL   PV-PD      3  34 12S  20W   1.000000  0.820313    27.29    0.0000   N/A   1329.

WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS
--------------------

DOUGHERTY EAST #1       OIL   PV-PD      1  18  9S  16W   0.934400  0.766500    27.29    0.0000   N/A    385.

DOUGHERTY EAST #1 BP    OIL   PV-BP      1  18  9S  16W   0.934400  0.766500    27.29    0.0000   N/A      0.

DOUGHERTY EAST #2 PUD   OIL   PV-UD      1  18  9S  16W   0.934400  0.766500    27.29    0.0000   N/A    385.

YOHE FIELD,
ROOKS COUNTY, KANSAS
--------------------

FINNESY LEASE           OIL   PV-PD      3  33  8S  18W   1.000000  0.875000    27.29    0.0000   N/A    876.	

TABLE C
PAGE 9 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                               RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                         PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                         PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                         ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

YOHE FIELD, ROOKS COUNTY, KANSAS (CONT.)
----------------------------------------

MOSHER LEASE             OIL   PV-PD      2  33  8S  18W   1.000000  0.875000    27.29    0.0000   N/A    640.

ALL FIELDS,
RUSH COUNTY, KANSAS
-------------------

OTIS COMPRESSOR STATION  GAS   PV-PD      0                1.000000  1.000000     0.00    0.0000   N/A   3644.

VARIOUS FIELD,
ALL COUNTY, KANSAS
------------------

KANSAS FIXED COSTS 1PDP  OIL   PV-PD      0                1.000000  1.000000     0.00    0.0000   N/A  29630.

KANSAS FIXED COSTS 2PBP  OIL   PV-BP      0                1.000000  1.000000     0.00    0.0000   N/A    370.

KANSAS FIXED COSTS 3PUD  OIL   PV-UD      0                1.000000  1.000000     0.00    0.0000   N/A   2569.

SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE
-------------------------

ANITA COLSON #1          GAS   PV-SI      0   11-1S-74E    1.000000  0.875000     0.00    0.0000   N/A      0.

ANITA COLSON #1 BP       OIL   PV-BP      1   11-1S-74E    1.000000  0.875000    26.90    4.2200   1000   800.

ANITA COLSON #2          GAS   PV-PD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

BOBBY YEARY #1           GAS   PV-PD      0   12-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

BOBBY YEARY #1BP         GAS   PV-BP      0   12-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

BOBBY YEARY #2           OIL   PV-SI      1   11-1S-74E    0.500000  0.437500    26.90    0.0000   N/A    800.

BOBBY YEARY #3           OIL   PV-SI      0   11-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

CHERYL SMITH #1          OIL   PV-SI      1   11-1S-74E    0.500000  0.437500    26.90    0.0000   N/A    800.

CHERYL SMITH #2          GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

CHEVRON REED #1          GAS   PV-SI      0   11-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

D. SUTTON HEIRS #1       GAS   PV-PD      1   11-1S-74E    1.000000  0.678444     0.00    4.2200   1000   600.

D. SUTTON HEIRS #1 BP    GAS   PV-BP      1   11-1S-74E    1.000000  0.678444     0.00    4.2200   1000   600.

D. SUTTON HEIRS #3       GAS   PV-UD      1   11-1S-74E    1.000000  0.678444     0.00    4.2200   1000   600.

DARNELL SUTTON #1        GAS   PV-PD      0    6-1S-75E    1.000000  0.875000     0.00    0.0000   N/A      0.

DEANNA CROSS #1          GAS   PV-SI      1    6-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

DEANNA CROSS #1 BP       GAS   PV-BP      1    6-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

DEWEY SUTTON #1          OIL   PV-SI      0    6-1S-75E    0.500000  0.437500     0.00    0.0000   N/A      0.

DORIS HELTON #1          GAS   PV-PD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

DORIS HELTON #1 BP1      GAS   PV-BP      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

DORIS HELTON #1 BP2      GAS   PV-BP      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

F. WELLS #1              GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.	

TABLE C
PAGE 10 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
---------------------------------------------------

FRED PORTRUM #1         GAS   PV-PD      1    7-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

FRED PORTRUM #2         GAS   PV-PD      1    7-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

GARY PATTON #2          GAS   PV-SI      0    6-1S-75E    1.000000  0.656250     0.00    0.0000   N/A      0.

GARY PATTON #2 BP1      GAS   PV-BP      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

GARY PATTON #2 BP2      OIL   PV-BP      1    6-1S-75E    1.000000  0.656250    26.90    4.2200   1000   800.

GUY TOBEY #1            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

HAZEL SUTTON #2         GAS   PV-PD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

HUGH ROBERTS #1         GAS   PV-SI      1    8-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

HUGH ROBERTS #1 BP      GAS   PV-BP      1    8-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

JEFF JOHNSON #1         GAS   PV-PD      1    7-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

JEFF JOHNSON #2         GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LANGE #1                GAS   PB-BP      1   12-1S-74E    0.000000  0.062500     0.00    4.2200   1000   600.

LANGE #1 BP             GAS   PB-BP      1   11-1S-74E    0.000000  0.062500     0.00    4.2200   1000   600.

LAURA J. LAWSON #1      GAS   PV-PD      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

LAURA J. LAWSON #2      GAS   PV-PD      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

LAURA J. LAWSON #2 BP   GAS   PV-BP      0    6-1S-75E    1.000000  0.656250     0.00    0.0000   N/A      0.

LAURA J. LAWSON #3      GAS   PV-PD      1   11-1S-74E    0.940000  0.822500     0.00    4.2200   1000   600.

LAURA J. LAWSON #4      GAS   PV-PD      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

LAURA J. LAWSON #4 BP   GAS   PV-BP      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

LAURA J. LAWSON #5      OIL   PV-SI      1   15-1S-75E    1.000000  0.875000    26.90    0.0000   N/A    800.

PAUL REED #1            GAS   PV-PD      1   10-1S-74E    1.000000  0.750000     0.00    4.2200   1000   600.

PAUL REED #2            OIL   PV-SI      0   10-1S-74E    1.000000  0.750000     0.00    0.0000   N/A      0.

PAUL REED #2 BP         GAS   PV-BP      1   10-1S-74E    1.000000  0.750000     0.00    4.2200   1000   600.

PAUL REED #3            GAS   PV-PD      1   10-1S-74E    1.000000  0.656250     0.00    4.2200   1000   600.

PAUL REED #3 BP1        GAS   PV-BP      1   10-1S-74E    1.000000  0.656250     0.00    4.2200   1000   600.

PAUL REED #3 BP2        GAS   PV-BP      1   10-1S-74E    1.000000  0.656250     0.00    4.2200   1000   600.

PAUL REED #4            GAS   PV-PD      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #4 BP1        GAS   PV-BP      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #4 BP2        GAS   PV-BP      0    6-1S-75E    1.000000  0.875000     0.00    0.0000   N/A      0.

PAUL REED #5            OIL   PV-PD      1    6-1S-75E    1.000000  0.875000    26.90    0.0000   N/A    800.	

TABLE C
PAGE 11 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
---------------------------------------------------

PAUL REED #6            GAS   PV-PD      1    6-1S-75     1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #6 BP         OIL   PV-BP      1    6-1S-75E    1.000000  0.875000    26.90    0.0000   N/A    800.

PAUL REED #7            GAS   PV-PD      1   10-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #7 BP1        GAS   PV-BP      1   10-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #7 BP2        GAS   PV-BP      0   10-1S-74E    1.000000  0.875000     0.00    0.0000   N/A      0.

PAUL REED #8            OIL   PV-BP      1    6-1S-75E    1.000000  0.875000    26.90    0.0000   N/A    500.

PAUL REED #8 BP         GAS   PV-BP      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

PAUL REED #9            GAS   PV-UD      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

PURKEY #1               GAS   PV-PD      1   11-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

PURKEY #2               OIL   PV-SI      0   12-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

PURKEY #3               GAS   PV-PD      1   12-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

PURKEY #3 BP1           GAS   PV-BP      1   12-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

PURKEY #3 BP2           GAS   PV-BP      1   12-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

PURKEY #4               GAS   PV-UD      1   11-1S-74E    0.500000  0.437500     0.00    4.2200   1000     0.

PURKEY #5               GAS   PV-UD      1   11-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

RAY DEAN HELTON #1      GAS   PV-PD      0   10-1S-74E    1.000000  0.875000     0.00    0.0000   N/A      0.

RAY DEAN HELTON #1 BP   GAS   PV-BP      1   10-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

RAY DEAN HELTON #2      OIL   PV-SI      1    6-1S-75E    0.500000  0.437500    26.90    0.0000   N/A    800.

RAY DEAN HELTON #2 BP1  GAS   PV-BP      1    6-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

RAY DEAN HELTON #2 BP2  GAS   PV-BP      1    6-1S-75E    0.500000  0.437500     0.00    4.2200   1000   600.

RAY DEAN HELTON #3      OIL   PV-SI      1    6-1S-75E    0.500000  0.437500    26.90    0.0000   N/A    800.

RAY DEAN HELTON #4      GAS   PV-UD      1    6-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

RAY DEAN HELTON #6      GAS   PV-UD      1   10-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

ROSE #1                 OIL   PV-SI      0   11-1S-74E    0.500000  0.437500     0.00    0.0000   N/A      0.

STEPHEN LAWSON #1       OIL   PV-PD      1    6-1S-75E    0.500000  0.437500    26.90    0.0000   N/A    800.

STEPHEN LAWSON #2       GAS   PV-SI      0    6-1S-75E    1.000000  0.656250     0.00    0.0000   N/A      0.

STEPHEN LAWSON #3       GAS   PV-PD      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

STEPHEN LAWSON #3 BP    OIL   PV-BP      1    6-1S-75E    1.000000  0.656250    26.90    4.2200   1000   800.

STEPHEN LAWSON #4       GAS   PV-PD      1    7-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

STEPHEN LAWSON #4 BP    OIL   PV-BP      1    7-1S-75E    1.000000  0.656250    26.90    4.2200   1000   800.	

TABLE C
PAGE 12 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
---------------------------------------------------

STEPHEN LAWSON #5       GAS   PV-PD      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

STEPHEN LAWSON #5 BP    GAS   PV-BP      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

STEPHEN LAWSON #6       GAS   PV-UD      1    6-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

STEPHEN LAWSON #7       GAS   PV-UD      1    7-1S-75E    1.000000  0.656250     0.00    4.2200   1000   600.

T.J. HARRISON #1        OIL   PV-SI      0   10-1S-74E    1.000000  0.875000     0.00    0.0000   N/A      0.

WARREN REED #1          GAS   PV-SI      1    4-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

WARREN REED #1 BP       GAS   PV-BP      1    4-1S-75E    1.000000  0.875000     0.00    4.2200   1000   600.

WARREN REED #2          GAS   PV-PD      1   11-1S-74E    1.000000  0.781250     0.00    4.2200   1000   600.

WARREN REED #2 BP1      GAS   PV-BP      1   11-1S-74E    1.000000  0.781250     0.00    4.2200   1000   600.

WARREN REED #2 BP2      GAS   PV-BP      0   11-1S-74E    1.000000  0.781250     0.00    0.0000   N/A      0.

WELLS/YEARY #1          GAS   PV-PD      1   12-1S-74E    0.500000  0.437500     0.00    4.2200   1000   600.

WOODROW DAVIS #1        GAS   PV-SI      1   14-1S-74E    0.500000  0.438125     0.00    4.2200   1000   600.

LOCATION # 4            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION # 5            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION # 8            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #12            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #13            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #14            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #15            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #16            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #17            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #19            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #20            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #24            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #25            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #26            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #27            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #29            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #32            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #33            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.	

TABLE C
PAGE 13 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
---------------------------------------------------

LOCATION #34            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #35            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #36            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #38            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #39            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #40            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #41            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #42            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #43            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #44            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #45            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #46            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #47            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #48            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #49            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #50            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #51            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #53            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #54            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #55            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #56            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #57            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #58            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #59            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #60            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #61            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #62            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #63            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #65            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #67            GAS   PS-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.	

TABLE C
PAGE 14 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002

                              RES.      NO.               ----INTERESTS-----   LIQUIDS   --GAS DATA--   GROSS
                        PRI.  TYPE      OF     LOCATION   ----EVALUATED-----    PRICE     PRICE         COST
                        PROD  (A)      WELLS SEC TWP RNG    W.I.      N.R.I.    $/BBL      $(B)  BTU   $/MONTH
                        ----  ----     ----- -----------  --------  --------   -------   ------- ----  -------

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
---------------------------------------------------

LOCATION #68            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #69            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #70            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #71            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.

LOCATION #72            GAS   PV-UD      1   11-1S-74E    1.000000  0.875000     0.00    4.2200   1000   600.	

(A) RESERVE TYPES: PV = PROVED         STATUS: PD = PRODUCING
                   PB = PROBABLE               BP = BEHIND PIPE
                   PS = POSSIBLE               SI = SHUT IN
                                               UD = UNDEVELOPED
                                               DP = DEPLETED
                                               PB = PAYBACK
                                               NP = NON-PRODUCING	

(B) IF BTU IS SHOWN, GAS PRICE IN $/MMBTU. IF BTU IS N/A, PRICE IS IN $/MCF.
 
TENGASCO, INC. TABLE 1
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      TOTAL PROVED
    TOTAL PROPERTIES                                                                  ALL CATEGORIES

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    63,186,507
FINAL   -                                                                                 10.00% -    46,648,020
REMARKS -                                                                                 15.00% -    36,681,296
                                                                                          20.00% -    29,900,086
                                                                                          25.00% -    24,979,299	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003   223       162,465           0       1,512         128,750           0       1,170.141      27.19     4.20
 2004   251       157,019           0       2,931         126,057           0       2,246.804      27.21     4.21
 2005   259       144,715           0       2,952         116,911           0       2,343.626      27.22     4.21
 2006   264       123,245           0       3,014         100,389           0       2,421.166      27.24     4.21
 2007   261       110,108           0       2,719          89,869           0       2,193.479      27.25     4.21
 2008   256        98,999           0       2,179          81,112           0       1,736.975      27.26     4.21
 2009   237        88,605           0       1,796          72,807           0       1,420.083      27.27     4.21
 2010   227        82,933           0       1,474          68,295           0       1,153.059      27.27     4.21
 2011   213        76,061           0       1,372          62,703           0       1,075.281      27.28     4.21
 2012   197        71,271           0       1,093          58,742           0         849.300      27.28     4.21
 2013   194        66,531           0       1,001          54,816           0         760.660      27.28     4.21
 2014   187        58,890           0         885          48,768           0         681.751      27.28     4.21
 2015   176        53,579           0         769          44,440           0         588.758      27.28     4.21
 2016   166        49,446           0         617          41,031           0         468.197      27.28     4.20
 2017   156        45,309           0         567          37,630           0         431.461      27.29     4.20

 SUB-TOTAL      1,389,176           0      24,881       1,132,320           0      19,540.741      27.25     4.21
 REMAINDER        423,538           0       9,484         343,579           0       7,057.992      27.23     4.21
 TOTAL          1,812,714           0      34,365       1,475,899           0      26,598.733      27.25     4.21

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003        3,500,210           0     4,918,938            0     8,419,148      43,164     136,897     8,239,087
2004        3,430,852           0     9,459,521            0    12,890,373      36,529     271,481    12,582,363
2005        3,182,559           0     9,868,688            0    13,051,247      32,204     284,062    12,734,981
2006        2,734,896           0    10,198,882            0    12,933,778      24,668     295,651    12,613,459
2007        2,449,264           0     9,239,730            0    11,688,994      20,300     267,809    11,400,885
2008        2,211,449           0     7,314,905            0     9,526,354      16,950     210,979     9,298,425
2009        1,985,624           0     5,979,510            0     7,965,134      14,385     171,973     7,778,776
2010        1,862,594           0     4,854,166            0     6,716,760      13,093     139,047     6,564,620
2011        1,710,432           0     4,526,679            0     6,237,111      11,760     129,642     6,095,709
2012        1,602,353           0     3,573,725            0     5,176,078      10,859     101,432     5,063,787
2013        1,495,478           0     3,200,292            0     4,695,770      10,013      90,583     4,595,174
2014        1,330,435           0     2,868,254            0     4,198,689       8,845      81,149     4,108,695
2015        1,212,351           0     2,476,631            0     3,688,982       7,996      69,872     3,611,114
2016        1,119,599           0     1,968,486            0     3,088,085       7,177      54,959     3,025,949
2017        1,026,918           0     1,814,059            0     2,840,977       6,328      50,668     2,783,981

SUB-TOT    30,855,014           0    82,262,466            0   113,117,480     264,271   2,356,204   110,497,005
REMAIN      9,357,005           0    29,705,172            0    39,062,177      88,671     846,614    38,126,892
TOTAL      40,212,019           0   111,967,638            0   152,179,657     352,942   3,202,818   148,623,897	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003      1,755,602           0   1,694,750           0     3,450,352      4,788,735     4,788,735     4,524,086
2004      1,883,813           0   4,395,440           0     6,279,253      6,303,110    11,091,845     5,388,919
2005      1,958,728           0   2,437,000           0     4,395,728      8,339,253    19,431,098     6,506,524
2006      2,011,889           0   1,815,000           0     3,826,889      8,786,570    28,217,668     6,200,746
2007      2,011,678           0     625,000           0     2,636,678      8,764,207    36,981,875     5,599,317
2008      1,933,220           0      20,000           0     1,953,220      7,345,205    44,327,080     4,256,986
2009      1,810,357           0           0           0     1,810,357      5,968,419    50,295,499     3,131,058
2010      1,743,723           0      11,213           0     1,754,936      4,809,684    55,105,183     2,284,180
2011      1,631,544           0      30,000           0     1,661,544      4,434,165    59,539,348     1,903,687
2012      1,568,345           0           0           0     1,568,345      3,495,442    63,034,790     1,359,824
2013      1,540,616           0      10,000           0     1,550,616      3,044,558    66,079,348     1,071,739
2014      1,460,463           0      25,000           0     1,485,463      2,623,232    68,702,580       836,343
2015      1,381,703           0           0           0     1,381,703      2,229,411    70,931,991       643,632
2016      1,292,773           0           0           0     1,292,773      1,733,176    72,665,167       452,635
2017      1,240,655           0      20,000           0     1,260,655      1,523,326    74,188,493       359,879

SUBTOT   25,225,109           0  11,083,403           0    36,308,512     74,188,493                  44,519,555
REMAIN   13,088,381           0     265,000           0    13,353,381     24,773,511    98,962,004     2,128,465
TOTAL    38,313,490           0  11,348,403           0    49,661,893     98,962,004                  46,648,020

  LIFE OF SUMMARY IS 50.00 YEARS.

  THESE  DATA IN  TABLES 1 THRU 331 ARE PART OF A RIDER  SCOTT  REPORT  AND ARE
  SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT.	

TENGASCO, INC. TABLE 2
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROVED
    TOTAL PROPERTIES                                                                  PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    18,966,582
FINAL   -                                                                                 10.00% -    14,795,442
REMARKS -                                                                                 15.00% -    12,190,469
                                                                                          20.00% -    10,394,446
                                                                                          25.00% -     9,074,814	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003   204       122,495           0         755         100,307           0         564.880      27.26     4.19
 2004   200       111,127           0         630          90,944           0         475.336      27.26     4.18
 2005   196       101,460           0         562          83,140           0         417.241      27.27     4.18
 2006   191        93,897           0         492          76,905           0         372.570      27.27     4.18
 2007   185        86,267           0         450          70,597           0         340.574      27.27     4.18
 2008   183        79,146           0         421          64,992           0         313.111      27.27     4.18
 2009   173        71,445           0         385          58,799           0         287.563      27.28     4.18
 2010   169        66,577           0         361          54,863           0         269.087      27.28     4.18
 2011   166        60,594           0         332          49,955           0         251.328      27.28     4.18
 2012   157        56,734           0         314          46,768           0         235.173      27.28     4.18
 2013   157        53,182           0         301          43,805           0         222.155      27.28     4.18
 2014   153        46,973           0         278          38,906           0         208.250      27.28     4.18
 2015   143        42,398           0         259          35,186           0         194.343      27.29     4.18
 2016   140        38,946           0         240          32,339           0         180.644      27.29     4.18
 2017   132        35,735           0         218          29,721           0         168.643      27.29     4.18

 SUB-TOTAL      1,066,976           0       5,998         877,227           0       4,500.898      27.27     4.18
 REMAINDER        276,265           0       2,801         231,066           0       2,091.813      27.29     4.18
 TOTAL          1,343,241           0       8,799       1,108,293           0       6,592.711      27.28     4.18

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003        2,734,234           0     2,364,735            0     5,098,969      21,703      60,270     5,016,996
2004        2,479,598           0     1,988,271            0     4,467,869      19,133      49,776     4,398,960
2005        2,266,815           0     1,744,434            0     4,011,249      17,023      43,188     3,951,038
2006        2,097,279           0     1,557,296            0     3,654,575      15,339      38,351     3,600,885
2007        1,925,342           0     1,423,300            0     3,348,642      13,781      34,908     3,299,953
2008        1,772,653           0     1,308,463            0     3,081,116      12,440      32,053     3,036,623
2009        1,603,929           0     1,201,801            0     2,805,730      11,081      29,495     2,765,154
2010        1,496,538           0     1,124,555            0     2,621,093      10,103      27,582     2,583,408
2011        1,362,860           0     1,050,258            0     2,413,118       9,040      25,714     2,378,364
2012        1,275,927           0       982,679            0     2,258,606       8,359      24,021     2,226,226
2013        1,195,211           0       928,295            0     2,123,506       7,750      22,700     2,093,056
2014        1,061,512           0       870,295            0     1,931,807       6,837      21,334     1,903,636
2015          960,010           0       812,201            0     1,772,211       6,143      19,934     1,746,134
2016          882,602           0       755,012            0     1,637,614       5,466      18,556     1,613,592
2017          811,078           0       704,967            0     1,516,045       4,951      17,395     1,493,699

SUB-TOT    23,925,588           0    18,816,562            0    42,742,150     169,149     465,277    42,107,724
REMAIN      6,305,704           0     8,747,894            0    15,053,598      38,465     217,895    14,797,238
TOTAL      30,231,292           0    27,564,456            0    57,795,748     207,614     683,172    56,904,962	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003      1,662,491           0           0           0     1,662,491      3,354,505     3,354,505     3,198,668
2004      1,575,599           0           0           0     1,575,599      2,823,361     6,177,866     2,435,855
2005      1,520,092           0           0           0     1,520,092      2,430,946     8,608,812     1,898,243
2006      1,499,099           0           0           0     1,499,099      2,101,786    10,710,598     1,485,533
2007      1,462,575           0           0           0     1,462,575      1,837,378    12,547,976     1,175,510
2008      1,427,137           0           0           0     1,427,137      1,609,486    14,157,462       932,141
2009      1,355,955           0           0           0     1,355,955      1,409,199    15,566,661       738,722
2010      1,341,828           0           0           0     1,341,828      1,241,580    16,808,241       589,162
2011      1,286,884           0           0           0     1,286,884      1,091,480    17,899,721       468,866
2012      1,267,305           0           0           0     1,267,305        958,921    18,858,642       372,866
2013      1,254,240           0           0           0     1,254,240        838,816    19,697,458       295,271
2014      1,177,342           0           0           0     1,177,342        726,294    20,423,752       231,437
2015      1,117,064           0           0           0     1,117,064        629,070    21,052,822       181,462
2016      1,072,087           0           0           0     1,072,087        541,505    21,594,327       141,403
2017      1,032,411           0           0           0     1,032,411        461,288    22,055,615       109,044

SUBTOT   20,052,109           0           0           0    20,052,109     22,055,615                  14,254,183
REMAIN   10,036,633           0           0           0    10,036,633      4,760,605    26,816,220       541,259
TOTAL    30,088,742           0           0           0    30,088,742     26,816,220                  14,795,442

  LIFE OF SUMMARY IS 50.00 YEARS.	

TENGASCO, INC. TABLE 3
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROVED
    TOTAL PROPERTIES                                                                  SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     1,461,339
FINAL   -                                                                                 10.00% -     1,241,527
REMARKS -                                                                                 15.00% -     1,075,952
                                                                                          20.00% -       946,156
                                                                                          25.00% -       841,315	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003     5        13,365           0          27           5,848           0          11.845      26.90     4.22
 2004     8        12,060           0         156           6,729           0          78.727      26.90     4.22
 2005     7         6,190           0         111           3,944           0          58.492      26.90     4.22
 2006     7         3,465           0          79           2,566           0          43.680      26.90     4.22
 2007     5         2,855           0          43           2,142           0          18.944      26.90     4.22
 2008     4         2,387           0          37           1,803           0          16.395      26.90     4.22
 2009     4         1,995           0          33           1,518           0          14.587      26.90     4.22
 2010     4         1,439           0          31           1,178           0          13.208      26.90     4.22
 2011     3         1,065           0          27             932           0          12.115      26.90     4.22
 2012     3           906           0          26             792           0          11.112      26.90     4.22
 2013     2           769           0          11             673           0           4.720      26.90     4.22
 2014     2           654           0          10             573           0           4.436      26.90     4.22
 2015     2           556           0           9             486           0           4.192      26.90     4.22
 2016     2           473           0           9             414           0           3.977      26.90     4.22
 2017     2           107           0           9              93           0           3.778      26.90     4.22

 SUB-TOTAL         48,286           0         618          29,691           0         300.208      26.90     4.22
 REMAINDER              0           0          47               0           0          20.538       0.00     4.22
 TOTAL             48,286           0         665          29,691           0         320.746      26.90     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          157,280           0        49,984            0       207,264       4,719       1,500       201,045
2004          181,031           0       332,228            0       513,259       5,431       9,966       497,862
2005          106,102           0       246,837            0       352,939       3,183       7,406       342,350
2006           69,023           0       184,328            0       253,351       2,071       5,530       245,750
2007           57,620           0        79,946            0       137,566       1,729       2,398       133,439
2008           48,498           0        69,184            0       117,682       1,454       2,075       114,153
2009           40,840           0        61,559            0       102,399       1,225       1,847        99,327
2010           31,676           0        55,738            0        87,414         950       1,672        84,792
2011           25,072           0        51,125            0        76,197         752       1,534        73,911
2012           21,311           0        46,894            0        68,205         640       1,406        66,159
2013           18,114           0        19,917            0        38,031         543         598        36,890
2014           15,397           0        18,721            0        34,118         462         561        33,095
2015           13,088           0        17,689            0        30,777         393         531        29,853
2016           11,124           0        16,783            0        27,907         333         504        27,070
2017            2,510           0        15,945            0        18,455          76         478        17,901

SUB-TOT       798,686           0     1,266,878            0     2,065,564      23,961      38,006     2,003,597
REMAIN              0           0        86,671            0        86,671           0       2,600        84,071
TOTAL         798,686           0     1,353,549            0     2,152,235      23,961      40,606     2,087,668	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,800           0           0           0        11,800        189,245       189,245       176,680
2004         40,000           0           0           0        40,000        457,862       647,107       396,301
2005         37,200           0           0           0        37,200        305,150       952,257       238,573
2006         29,903           0           0           0        29,903        215,847     1,168,104       152,796
2007         21,620           0           0           0        21,620        111,819     1,279,923        71,581
2008         21,600           0           0           0        21,600         92,553     1,372,476        53,622
2009         21,600           0           0           0        21,600         77,727     1,450,203        40,761
2010         18,800           0           0           0        18,800         65,992     1,516,195        31,322
2011         16,800           0           0           0        16,800         57,111     1,573,306        24,533
2012         16,733           0           0           0        16,733         49,426     1,622,732        19,227
2013         13,200           0           0           0        13,200         23,690     1,646,422         8,341
2014         13,200           0           0           0        13,200         19,895     1,666,317         6,341
2015         13,200           0           0           0        13,200         16,653     1,682,970         4,806
2016         13,200           0           0           0        13,200         13,870     1,696,840         3,622
2017          6,000           0           0           0         6,000         11,901     1,708,741         2,812

SUBTOT      294,856           0           0           0       294,856      1,708,741                   1,231,318
REMAIN       23,653           0           0           0        23,653         60,418     1,769,159        10,209
TOTAL       318,509           0           0           0       318,509      1,769,159                   1,241,527

  LIFE OF SUMMARY IS 21.57 YEARS.	

TENGASCO, INC. TABLE 4
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROVED
    TOTAL PROPERTIES                                                                  BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     9,841,842
FINAL   -                                                                                 10.00% -     6,181,700
REMARKS -                                                                                 15.00% -     4,566,917
                                                                                          20.00% -     3,635,868
                                                                                          25.00% -     3,021,945	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003     5        26,605           0         144          22,595           0         101.825      26.94     4.22
 2004     9        16,080           0         197          13,440           0         148.371      26.96     4.19
 2005    10        17,199           0         183          12,930           0         137.430      26.96     4.18
 2006    11        10,270           0         210           7,683           0         134.593      26.99     4.19
 2007    13         6,279           0         280           4,669           0         200.808      27.04     4.21
 2008    13         3,574           0         246           2,551           0         175.270      27.13     4.21
 2009    10         2,035           0         221           1,376           0         161.261      27.29     4.21
 2010     9         2,504           0         175           1,751           0         125.844      27.29     4.21
 2011     9         2,667           0         334           1,889           0         263.120      27.29     4.22
 2012    10         2,524           0         236           1,793           0         180.651      27.29     4.22
 2013    10         2,072           0         225           1,459           0         154.657      27.29     4.22
 2014     7         1,312           0         171             887           0         120.142      27.29     4.22
 2015     7         1,202           0         139             813           0          97.997      27.29     4.22
 2016     6         1,100           0         118             744           0          84.319      27.29     4.22
 2017     6         1,008           0         113             681           0          82.103      27.29     4.22

 SUB-TOTAL         96,431           0       2,992          75,261           0       2,168.391      27.02     4.21
 REMAINDER         72,048           0       4,539          49,862           0       3,359.804      26.91     4.22
 TOTAL            168,479           0       7,531         125,123           0       5,528.195      26.97     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          608,696           0       429,701            0     1,038,397      16,742      12,891     1,008,764
2004          362,391           0       621,781            0       984,172       9,479      16,221       958,472
2005          348,560           0       574,865            0       923,425       9,182      14,394       899,849
2006          207,394           0       564,493            0       771,887       5,055      14,984       751,848
2007          126,230           0       844,582            0       970,812       2,717      23,751       944,344
2008           69,194           0       737,371            0       806,565       1,097      20,855       784,613
2009           37,544           0       678,993            0       716,537         229      19,516       696,792
2010           47,775           0       530,312            0       578,087         291      15,489       562,307
2011           51,579           0     1,109,711            0     1,161,290         314      32,925     1,128,051
2012           48,932           0       761,779            0       810,711         299      22,533       787,879
2013           39,812           0       652,155            0       691,967         243      19,287       672,437
2014           24,203           0       506,786            0       530,989         147      15,083       515,759
2015           22,169           0       413,548            0       435,717         136      12,408       423,173
2016           20,306           0       355,826            0       376,132         123      10,674       365,335
2017           18,598           0       346,471            0       365,069         114      10,395       354,560

SUB-TOT     2,033,383           0     9,128,374            0    11,161,757      46,168     261,406    10,854,183
REMAIN      1,341,563           0    14,178,375            0    15,519,938      39,775     425,350    15,054,813
TOTAL       3,374,946           0    23,306,749            0    26,681,695      85,943     686,756    25,908,996	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         50,411           0      94,750           0       145,161        863,603       863,603       821,648
2004         74,170           0      52,000           0       126,170        832,302     1,695,905       717,423
2005         88,179           0      37,000           0       125,179        774,670     2,470,575       605,128
2006         89,986           0      15,000           0       104,986        646,862     3,117,437       456,979
2007         94,833           0      25,000           0       119,833        824,511     3,941,948       526,614
2008         79,047           0      20,000           0        99,047        685,566     4,627,514       396,781
2009         65,959           0           0           0        65,959        630,833     5,258,347       331,120
2010         62,918           0      11,213           0        74,131        488,176     5,746,523       231,626
2011         67,700           0      30,000           0        97,700      1,030,351     6,776,874       440,062
2012         63,924           0           0           0        63,924        723,955     7,500,829       282,116
2013         59,505           0      10,000           0        69,505        602,932     8,103,761       212,555
2014         54,862           0      25,000           0        79,862        435,897     8,539,658       139,392
2015         54,220           0           0           0        54,220        368,953     8,908,611       106,532
2016         48,370           0           0           0        48,370        316,965     9,225,576        82,752
2017         48,971           0      20,000           0        68,971        285,589     9,511,165        67,436

SUBTOT    1,003,055           0     339,963           0     1,343,018      9,511,165                   5,418,164
REMAIN    1,266,597           0     265,000           0     1,531,597     13,523,216    23,034,381       763,536
TOTAL     2,269,652           0     604,963           0     2,874,615     23,034,381                   6,181,700

  LIFE OF SUMMARY IS 50.00 YEARS.	

TENGASCO, INC. TABLE 5
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROVED
    TOTAL PROPERTIES                                                                  UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    32,916,744
FINAL   -                                                                                 10.00% -    24,429,351
REMARKS -                                                                                 15.00% -    18,847,958
                                                                                          20.00% -    14,923,616
                                                                                          25.00% -    12,041,225	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003     9             0           0         586               0           0         491.592       0.00     4.22
 2004    34        17,752           0       1,948          14,944           0       1,544.370      27.29     4.22
 2005    46        19,866           0       2,096          16,897           0       1,730.463      27.29     4.22
 2006    55        15,613           0       2,233          13,235           0       1,870.323      27.29     4.22
 2007    58        14,707           0       1,946          12,461           0       1,633.153      27.29     4.22
 2008    56        13,892           0       1,475          11,766           0       1,232.200      27.29     4.22
 2009    50        13,130           0       1,157          11,114           0         956.673      27.29     4.22
 2010    45        12,413           0         907          10,503           0         744.920      27.29     4.22
 2011    35        11,735           0         679           9,927           0         548.718      27.29     4.22
 2012    27        11,107           0         517           9,389           0         422.363      27.29     4.22
 2013    25        10,508           0         464           8,879           0         379.129      27.29     4.22
 2014    25         9,951           0         426           8,402           0         348.922      27.29     4.22
 2015    24         9,423           0         362           7,955           0         292.226      27.29     4.22
 2016    18         8,927           0         250           7,534           0         199.257      27.29     4.22
 2017    16         8,459           0         227           7,135           0         176.938      27.29     4.22

 SUB-TOTAL        177,483           0      15,273         150,141           0      12,571.247      27.29     4.22
 REMAINDER         75,225           0       2,097          62,651           0       1,585.837      27.29     4.22
 TOTAL            252,708           0      17,370         212,792           0      14,157.084      27.29     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0     2,074,518            0     2,074,518           0      62,236     2,012,282
2004          407,832           0     6,517,241            0     6,925,073       2,486     195,518     6,727,069
2005          461,082           0     7,302,552            0     7,763,634       2,816     219,074     7,541,744
2006          361,200           0     7,892,765            0     8,253,965       2,203     236,786     8,014,976
2007          340,072           0     6,891,902            0     7,231,974       2,073     206,752     7,023,149
2008          321,104           0     5,199,887            0     5,520,991       1,959     155,996     5,363,036
2009          303,311           0     4,037,157            0     4,340,468       1,850     121,115     4,217,503
2010          286,605           0     3,143,561            0     3,430,166       1,749      94,304     3,334,113
2011          270,921           0     2,315,585            0     2,586,506       1,654      69,469     2,515,383
2012          256,183           0     1,782,373            0     2,038,556       1,561      53,472     1,983,523
2013          242,341           0     1,599,925            0     1,842,266       1,477      47,998     1,792,791
2014          229,323           0     1,472,452            0     1,701,775       1,399      44,171     1,656,205
2015          217,084           0     1,233,193            0     1,450,277       1,324      36,999     1,411,954
2016          205,567           0       840,865            0     1,046,432       1,255      25,225     1,019,952
2017          194,732           0       746,676            0       941,408       1,187      22,400       917,821

SUB-TOT     4,097,357           0    53,050,652            0    57,148,009      24,993   1,591,515    55,531,501
REMAIN      1,709,738           0     6,692,232            0     8,401,970      10,431     200,769     8,190,770
TOTAL       5,807,095           0    59,742,884            0    65,549,979      35,424   1,792,284    63,722,271	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         30,900           0   1,600,000           0     1,630,900        381,382       381,382       327,090
2004        194,044           0   4,343,440           0     4,537,484      2,189,585     2,570,967     1,839,340
2005        313,257           0   2,400,000           0     2,713,257      4,828,487     7,399,454     3,764,580
2006        392,901           0   1,800,000           0     2,192,901      5,822,075    13,221,529     4,105,438
2007        432,650           0     600,000           0     1,032,650      5,990,499    19,212,028     3,825,612
2008        405,436           0           0           0       405,436      4,957,600    24,169,628     2,874,442
2009        366,843           0           0           0       366,843      3,850,660    28,020,288     2,020,455
2010        320,177           0           0           0       320,177      3,013,936    31,034,224     1,432,070
2011        260,160           0           0           0       260,160      2,255,223    33,289,447       970,226
2012        220,383           0           0           0       220,383      1,763,140    35,052,587       685,615
2013        213,671           0           0           0       213,671      1,579,120    36,631,707       555,572
2014        215,059           0           0           0       215,059      1,441,146    38,072,853       459,173
2015        197,219           0           0           0       197,219      1,214,735    39,287,588       350,832
2016        159,116           0           0           0       159,116        860,836    40,148,424       224,858
2017        153,273           0           0           0       153,273        764,548    40,912,972       180,587

SUBTOT    3,875,089           0  10,743,440           0    14,618,529     40,912,972                  23,615,890
REMAIN    1,761,498           0           0           0     1,761,498      6,429,272    47,342,244       813,461
TOTAL     5,636,587           0  10,743,440           0    16,380,027     47,342,244                  24,429,351

  LIFE OF SUMMARY IS 46.65 YEARS.	

TENGASCO, INC. TABLE 6
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      TOTAL PROBABLE
    TOTAL PROPERTIES                                                                  ALL CATEGORIES

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -       441,915
FINAL   -                                                                                 10.00% -       292,893
REMARKS -                                                                                 15.00% -       200,900
                                                                                          20.00% -       140,905
                                                                                          25.00% -       100,066	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     3         5,158           0          27           3,933           0           1.661      27.29     4.22
 2005     3         5,700           0          22           4,330           0           1.375      27.29     4.22
 2006     3         4,911           0          19           3,724           0           1.200      27.29     4.22
 2007     3         4,622           0          17           3,506           0           1.078      27.29     4.22
 2008     3         4,349           0          16           3,299           0           0.987      27.29     4.22
 2009     3         4,093           0          14           3,105           0           0.916      27.29     4.22
 2010     3         3,852           0          14           2,924           0           0.859      27.29     4.22
 2011     3         3,625           0          13           2,750           0           0.802      27.29     4.22
 2012     3         3,413           0          12           2,591           0           0.750      27.29     4.22
 2013     3         3,211           0          11           2,438           0           0.712      27.29     4.22
 2014     3         3,023           0          34           2,295           0           2.061      27.29     4.22
 2015     3         2,844           0          28           2,161           0           1.782      27.29     4.22
 2016     3         2,678           0          19           2,034           0           1.153      27.29     4.22
 2017     3         2,520           0          13           1,914           0           0.810      27.29     4.22

 SUB-TOTAL         53,999           0         259          41,004           0          16.146      27.29     4.22
 REMAINDER         14,972           0           0          11,163           0           0.022      27.29     4.22
 TOTAL             68,971           0         259          52,167           0          16.168      27.29     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004          107,330           0         7,011            0       114,341         654         210       113,477
2005          118,162           0         5,802            0       123,964         721         174       123,069
2006          101,640           0         5,063            0       106,703         620         152       105,931
2007           95,662           0         4,549            0       100,211         584         137        99,490
2008           90,039           0         4,166            0        94,205         550         125        93,530
2009           84,748           0         3,867            0        88,615         516         116        87,983
2010           79,770           0         3,623            0        83,393         487         108        82,798
2011           75,087           0         3,385            0        78,472         458         102        77,912
2012           70,680           0         3,165            0        73,845         431          95        73,319
2013           66,533           0         3,007            0        69,540         406          90        69,044
2014           62,633           0         8,697            0        71,330         382         261        70,687
2015           58,961           0         7,520            0        66,481         359         226        65,896
2016           55,507           0         4,867            0        60,374         340         146        59,888
2017           52,256           0         3,419            0        55,675         318         102        55,255

SUB-TOT     1,119,008           0        68,141            0     1,187,149       6,826       2,044     1,178,279
REMAIN        304,628           0            91            0       304,719       1,858           3       302,858
TOTAL       1,423,636           0        68,232            0     1,491,868       8,684       2,047     1,481,137	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004         15,016           0     185,313           0       200,329        -86,852       -86,852       -75,873
2005         30,034           0           0           0        30,034         93,035         6,183        72,891
2006         30,033           0           0           0        30,033         75,898        82,081        53,623
2007         30,034           0           0           0        30,034         69,456       151,537        44,420
2008         30,033           0           0           0        30,033         63,497       215,034        36,760
2009         30,034           0           0           0        30,034         57,949       272,983        30,370
2010         30,033           0           0           0        30,033         52,765       325,748        25,032
2011         30,034           0           0           0        30,034         47,878       373,626        20,562
2012         30,032           0           0           0        30,032         43,287       416,913        16,828
2013         30,034           0           0           0        30,034         39,010       455,923        13,728
2014         30,033           0           0           0        30,033         40,654       496,577        12,923
2015         30,034           0           0           0        30,034         35,862       532,439        10,349
2016         30,033           0           0           0        30,033         29,855       562,294         7,797
2017         30,034           0           0           0        30,034         25,221       587,515         5,963

SUBTOT      405,451           0     185,313           0       590,764        587,515                     275,373
REMAIN      189,801           0           0           0       189,801        113,057       700,572        17,520
TOTAL       595,252           0     185,313           0       780,565        700,572                     292,893

  LIFE OF SUMMARY IS 27.54 YEARS.	

TENGASCO, INC. TABLE 7
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROBABLE
    TOTAL PROPERTIES                                                                  BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -        45,647
FINAL   -                                                                                 10.00% -        32,968
REMARKS -                                                                                 15.00% -        24,838
                                                                                          20.00% -        19,413
                                                                                          25.00% -        15,646	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     1             0           0          27               0           0           1.661       0.00     4.22
 2005     1             0           0          22               0           0           1.375       0.00     4.22
 2006     1             0           0          19               0           0           1.200       0.00     4.22
 2007     1             0           0          17               0           0           1.078       0.00     4.22
 2008     1             0           0          16               0           0           0.987       0.00     4.22
 2009     1             0           0          14               0           0           0.916       0.00     4.22
 2010     1             0           0          14               0           0           0.859       0.00     4.22
 2011     1             0           0          13               0           0           0.802       0.00     4.22
 2012     1             0           0          12               0           0           0.750       0.00     4.22
 2013     1             0           0          11               0           0           0.712       0.00     4.22
 2014     1             0           0          34               0           0           2.061       0.00     4.22
 2015     1             0           0          28               0           0           1.782       0.00     4.22
 2016     1             0           0          19               0           0           1.153       0.00     4.22
 2017     1             0           0          13               0           0           0.810       0.00     4.22

 SUB-TOTAL              0           0         259               0           0          16.146       0.00     4.22
 REMAINDER              0           0           0               0           0           0.022       0.00     4.22
 TOTAL                  0           0         259               0           0          16.168       0.00     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0         7,011            0         7,011           0         210         6,801
2005                0           0         5,802            0         5,802           0         174         5,628
2006                0           0         5,063            0         5,063           0         152         4,911
2007                0           0         4,549            0         4,549           0         137         4,412
2008                0           0         4,166            0         4,166           0         125         4,041
2009                0           0         3,867            0         3,867           0         116         3,751
2010                0           0         3,623            0         3,623           0         108         3,515
2011                0           0         3,385            0         3,385           0         102         3,283
2012                0           0         3,165            0         3,165           0          95         3,070
2013                0           0         3,007            0         3,007           0          90         2,917
2014                0           0         8,697            0         8,697           0         261         8,436
2015                0           0         7,520            0         7,520           0         226         7,294
2016                0           0         4,867            0         4,867           0         146         4,721
2017                0           0         3,419            0         3,419           0         102         3,317

SUB-TOT             0           0        68,141            0        68,141           0       2,044        66,097
REMAIN              0           0            91            0            91           0           3            88
TOTAL               0           0        68,232            0        68,232           0       2,047        66,185	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0          6,801         6,801         5,871
2005              0           0           0           0             0          5,628        12,429         4,395
2006              0           0           0           0             0          4,911        17,340         3,470
2007              0           0           0           0             0          4,412        21,752         2,822
2008              0           0           0           0             0          4,041        25,793         2,339
2009              0           0           0           0             0          3,751        29,544         1,966
2010              0           0           0           0             0          3,515        33,059         1,667
2011              0           0           0           0             0          3,283        36,342         1,410
2012              0           0           0           0             0          3,070        39,412         1,193
2013              0           0           0           0             0          2,917        42,329         1,026
2014              0           0           0           0             0          8,436        50,765         2,659
2015              0           0           0           0             0          7,294        58,059         2,110
2016              0           0           0           0             0          4,721        62,780         1,235
2017              0           0           0           0             0          3,317        66,097           785

SUBTOT            0           0           0           0             0         66,097                      32,948
REMAIN            0           0           0           0             0             88        66,185            20
TOTAL             0           0           0           0             0         66,185                      32,968

  LIFE OF SUMMARY IS 15.03 YEARS.	

TENGASCO, INC. TABLE 8
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      PROBABLE
    TOTAL PROPERTIES                                                                  UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -       396,268
FINAL   -                                                                                 10.00% -       259,925
REMARKS -                                                                                 15.00% -       176,062
                                                                                          20.00% -       121,492
                                                                                          25.00% -        84,420	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     2         5,158           0           0           3,933           0           0.000      27.29     0.00
 2005     2         5,700           0           0           4,330           0           0.000      27.29     0.00
 2006     2         4,911           0           0           3,724           0           0.000      27.29     0.00
 2007     2         4,622           0           0           3,506           0           0.000      27.29     0.00
 2008     2         4,349           0           0           3,299           0           0.000      27.29     0.00
 2009     2         4,093           0           0           3,105           0           0.000      27.29     0.00
 2010     2         3,852           0           0           2,924           0           0.000      27.29     0.00
 2011     2         3,625           0           0           2,750           0           0.000      27.29     0.00
 2012     2         3,413           0           0           2,591           0           0.000      27.29     0.00
 2013     2         3,211           0           0           2,438           0           0.000      27.29     0.00
 2014     2         3,023           0           0           2,295           0           0.000      27.29     0.00
 2015     2         2,844           0           0           2,161           0           0.000      27.29     0.00
 2016     2         2,678           0           0           2,034           0           0.000      27.29     0.00
 2017     2         2,520           0           0           1,914           0           0.000      27.29     0.00

 SUB-TOTAL         53,999           0           0          41,004           0           0.000      27.29     0.00
 REMAINDER         14,972           0           0          11,163           0           0.000      27.29     0.00
 TOTAL             68,971           0           0          52,167           0           0.000      27.29     0.00

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004          107,330           0             0            0       107,330         654           0       106,676
2005          118,162           0             0            0       118,162         721           0       117,441
2006          101,640           0             0            0       101,640         620           0       101,020
2007           95,662           0             0            0        95,662         584           0        95,078
2008           90,039           0             0            0        90,039         550           0        89,489
2009           84,748           0             0            0        84,748         516           0        84,232
2010           79,770           0             0            0        79,770         487           0        79,283
2011           75,087           0             0            0        75,087         458           0        74,629
2012           70,680           0             0            0        70,680         431           0        70,249
2013           66,533           0             0            0        66,533         406           0        66,127
2014           62,633           0             0            0        62,633         382           0        62,251
2015           58,961           0             0            0        58,961         359           0        58,602
2016           55,507           0             0            0        55,507         340           0        55,167
2017           52,256           0             0            0        52,256         318           0        51,938

SUB-TOT     1,119,008           0             0            0     1,119,008       6,826           0     1,112,182
REMAIN        304,628           0             0            0       304,628       1,858           0       302,770
TOTAL       1,423,636           0             0            0     1,423,636       8,684           0     1,414,952	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004         15,016           0     185,313           0       200,329        -93,653       -93,653       -81,744
2005         30,034           0           0           0        30,034         87,407        -6,246        68,496
2006         30,033           0           0           0        30,033         70,987        64,741        50,153
2007         30,034           0           0           0        30,034         65,044       129,785        41,598
2008         30,033           0           0           0        30,033         59,456       189,241        34,421
2009         30,034           0           0           0        30,034         54,198       243,439        28,404
2010         30,033           0           0           0        30,033         49,250       292,689        23,365
2011         30,034           0           0           0        30,034         44,595       337,284        19,152
2012         30,032           0           0           0        30,032         40,217       377,501        15,635
2013         30,034           0           0           0        30,034         36,093       413,594        12,702
2014         30,033           0           0           0        30,033         32,218       445,812        10,264
2015         30,034           0           0           0        30,034         28,568       474,380         8,239
2016         30,033           0           0           0        30,033         25,134       499,514         6,562
2017         30,034           0           0           0        30,034         21,904       521,418         5,178

SUBTOT      405,451           0     185,313           0       590,764        521,418                     242,425
REMAIN      189,801           0           0           0       189,801        112,969       634,387        17,500
TOTAL       595,252           0     185,313           0       780,565        634,387                     259,925

  LIFE OF SUMMARY IS 27.54 YEARS.	

TENGASCO, INC. TABLE 9
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GRAND SUMMARY
                                                                                      TOTAL POSSIBLE
    TOTAL PROPERTIES                                                                  UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     4,284,225
FINAL   -                                                                                 10.00% -     3,185,002
REMARKS -                                                                                 15.00% -     2,378,901
                                                                                          20.00% -     1,783,727
                                                                                          25.00% -     1,341,618	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004                   0           0           0               0           0           0.000       0.00     0.00
 2005     4             0           0         106               0           0          93.393       0.00     4.22
 2006    14             0           0         715               0           0         623.939       0.00     4.22
 2007    14             0           0         576               0           0         503.808       0.00     4.22
 2008    14             0           0         409               0           0         360.038       0.00     4.22
 2009    14             0           0         310               0           0         272.546       0.00     4.22
 2010    12             0           0         211               0           0         181.732       0.00     4.22
 2011     8             0           0         109               0           0          94.770       0.00     4.22
 2012     4             0           0          64               0           0          56.899       0.00     4.22
 2013     3             0           0          30               0           0          26.400       0.00     4.22
 2014     1             0           0          16               0           0          14.226       0.00     4.22
 2015                   0           0           0               0           0           0.000       0.00     0.00
 2016                   0           0           0               0           0           0.000       0.00     0.00
 2017                   0           0           0               0           0           0.000       0.00     0.00

 SUB-TOTAL              0           0       2,546               0           0       2,227.751       0.00     4.22
 REMAINDER              0           0           0               0           0           0.000       0.00     0.00
 TOTAL                  0           0       2,546               0           0       2,227.751       0.00     4.22

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       394,118            0       394,118           0      11,824       382,294
2006                0           0     2,633,019            0     2,633,019           0      78,990     2,554,029
2007                0           0     2,126,073            0     2,126,073           0      63,783     2,062,290
2008                0           0     1,519,360            0     1,519,360           0      45,582     1,473,778
2009                0           0     1,150,142            0     1,150,142           0      34,503     1,115,639
2010                0           0       766,907            0       766,907           0      23,004       743,903
2011                0           0       399,927            0       399,927           0      11,998       387,929
2012                0           0       240,113            0       240,113           0       7,203       232,910
2013                0           0       111,408            0       111,408           0       3,343       108,065
2014                0           0        60,033            0        60,033           0       1,801        58,232
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     9,401,100            0     9,401,100           0     282,031     9,119,069
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     9,401,100            0     9,401,100           0     282,031     9,119,069	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          9,000           0     800,000           0       809,000       -426,706      -426,706      -327,786
2006         75,000           0   2,000,000           0     2,075,000        479,029        52,323       315,056
2007        100,800           0           0           0       100,800      1,961,490     2,013,813     1,258,271
2008        100,800           0           0           0       100,800      1,372,978     3,386,791       796,076
2009         92,682           0           0           0        92,682      1,022,957     4,409,748       537,271
2010         68,580           0           0           0        68,580        675,323     5,085,071       321,748
2011         36,976           0           0           0        36,976        350,953     5,436,024       151,535
2012         23,269           0           0           0        23,269        209,641     5,645,665        81,700
2013         11,184           0           0           0        11,184         96,881     5,742,546        34,489
2014          6,291           0           0           0         6,291         51,941     5,794,487        16,642
2015              0           0           0           0             0              0     5,794,487             0
2016              0           0           0           0             0              0     5,794,487             0
2017              0           0           0           0             0              0     5,794,487             0

SUBTOT      524,582           0   2,800,000           0     3,324,582      5,794,487                   3,185,002
REMAIN            0           0           0           0             0              0     5,794,487             0
TOTAL       524,582           0   2,800,000           0     3,324,582      5,794,487                   3,185,002

  LIFE OF SUMMARY IS 11.87 YEARS.	

TENGASCO, INC. TABLE 10
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

STATE SUMMARY
                                                                                      TOTAL PROVED
    KANSAS PROPERTIES                                                                 ALL CATEGORIES

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    13,319,508
FINAL   -                                                                                 10.00% -    10,417,292
REMARKS -                                                                                 15.00% -     8,502,010
                                                                                          20.00% -     7,150,018
                                                                                          25.00% -     6,148,596	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003   180       116,451           0         278          94,818           0         211.770      27.29     4.13
 2004   187       124,433           0         311         101,792           0         244.340      27.29     4.13
 2005   184       118,121           0         310          97,023           0         237.946      27.29     4.13
 2006   181       107,263           0         262          87,967           0         204.855      27.29     4.13
 2007   176        99,465           0         236          81,534           0         186.107      27.29     4.13
 2008   174        92,095           0         220          75,732           0         168.136      27.29     4.13
 2009   163        84,060           0         191          69,268           0         147.068      27.29     4.13
 2010   158        79,695           0         171          65,613           0         130.511      27.29     4.13
 2011   156        73,698           0         154          60,635           0         122.224      27.29     4.13
 2012   149        69,337           0         150          57,050           0         114.675      27.29     4.13
 2013   149        64,947           0         142          53,431           0         107.732      27.29     4.13
 2014   144        57,591           0         126          47,630           0          97.064      27.29     4.13
 2015   134        52,512           0         112          43,507           0          88.093      27.29     4.13
 2016   131        48,828           0         105          40,490           0          81.144      27.29     4.13
 2017   125        45,202           0          92          37,537           0          74.500      27.29     4.13

 SUB-TOTAL      1,233,698           0       2,860       1,014,027           0       2,216.165      27.29     4.13
 REMAINDER        352,560           0       1,145         294,440           0         883.994      27.29     4.13
 TOTAL          1,586,258           0       4,005       1,308,467           0       3,100.159      27.29     4.13

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003        2,587,495           0       874,612            0     3,462,107      15,781      15,566     3,430,760
2004        2,778,063           0     1,009,121            0     3,787,184      16,946      17,967     3,752,271
2005        2,647,602           0       982,719            0     3,630,321      16,156      17,489     3,596,676
2006        2,400,721           0       846,050            0     3,246,771      14,642      15,061     3,217,068
2007        2,225,049           0       768,624            0     2,993,673      13,573      13,680     2,966,420
2008        2,066,747           0       694,402            0     2,761,149      12,609      12,362     2,736,178
2009        1,890,416           0       607,386            0     2,497,802      11,529      10,814     2,475,459
2010        1,790,461           0       539,017            0     2,329,478      10,929       9,593     2,308,956
2011        1,654,803           0       504,782            0     2,159,585      10,092       8,984     2,140,509
2012        1,556,839           0       473,609            0     2,030,448       9,492       8,430     2,012,526
2013        1,458,195           0       444,932            0     1,903,127       8,895       7,919     1,886,313
2014        1,299,854           0       400,876            0     1,700,730       7,928       7,133     1,685,669
2015        1,187,237           0       363,823            0     1,551,060       7,242       6,480     1,537,338
2016        1,105,050           0       335,119            0     1,440,169       6,741       5,962     1,427,466
2017        1,024,408           0       307,688            0     1,332,096       6,252       5,478     1,320,366

SUB-TOT    27,672,940           0     9,152,760            0    36,825,700     168,807     162,918    36,493,975
REMAIN      8,035,174           0     3,650,897            0    11,686,071      49,016      64,985    11,572,070
TOTAL      35,708,114           0    12,803,657            0    48,511,771     217,823     227,903    48,066,045	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003      1,523,734           0       9,750           0     1,533,484      1,897,276     1,897,276     1,807,510
2004      1,508,917           0     725,440           0     2,234,357      1,517,914     3,415,190     1,305,692
2005      1,498,860           0      12,000           0     1,510,860      2,085,816     5,501,006     1,630,026
2006      1,476,318           0           0           0     1,476,318      1,740,750     7,241,756     1,230,321
2007      1,438,259           0           0           0     1,438,259      1,528,161     8,769,917       977,677
2008      1,402,820           0           0           0     1,402,820      1,333,358    10,103,275       772,313
2009      1,330,017           0           0           0     1,330,017      1,145,442    11,248,717       600,620
2010      1,315,897           0      11,213           0     1,327,110        981,846    12,230,563       465,774
2011      1,269,198           0           0           0     1,269,198        871,311    13,101,874       374,326
2012      1,257,095           0           0           0     1,257,095        755,431    13,857,305       293,778
2013      1,242,850           0           0           0     1,242,850        643,463    14,500,768       226,627
2014      1,167,077           0           0           0     1,167,077        518,592    15,019,360       165,375
2015      1,111,564           0           0           0     1,111,564        425,774    15,445,134       122,860
2016      1,074,930           0           0           0     1,074,930        352,536    15,797,670        92,102
2017      1,040,255           0           0           0     1,040,255        280,111    16,077,781        66,259

SUBTOT   19,657,791           0     758,403           0    20,416,194     16,077,781                  10,131,260
REMAIN    9,486,689           0           0           0     9,486,689      2,085,381    18,163,162       286,032
TOTAL    29,144,480           0     758,403           0    29,902,883     18,163,162                  10,417,292

  LIFE OF SUMMARY IS 38.00 YEARS.	

TENGASCO, INC. TABLE 11
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

STATE SUMMARY
                                                                                      PROVED
    KANSAS PROPERTIES                                                                 PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    10,625,149
FINAL   -                                                                                 10.00% -     8,509,047
REMARKS -                                                                                 15.00% -     7,091,395
                                                                                          20.00% -     6,073,443
                                                                                          25.00% -     5,307,424	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003   179       113,005           0         278          92,488           0         211.770      27.29     4.13
 2004   176       103,524           0         250          84,714           0         196.057      27.29     4.13
 2005   172        95,363           0         240          78,171           0         181.373      27.29     4.13
 2006   169        89,002           0         212          72,942           0         166.090      27.29     4.13
 2007   164        82,332           0         197          67,433           0         154.675      27.29     4.13
 2008   162        75,981           0         188          62,464           0         142.960      27.29     4.13
 2009   152        68,895           0         170          56,778           0         130.115      27.29     4.13
 2010   148        64,778           0         161          53,359           0         122.183      27.29     4.13
 2011   146        59,296           0         145          48,819           0         114.957      27.29     4.13
 2012   139        55,706           0         142          45,868           0         108.336      27.29     4.13
 2013   139        52,367           0         135          43,093           0         102.201      27.29     4.13
 2014   135        46,328           0         123          38,341           0          94.682      27.29     4.13
 2015   126        41,887           0         112          34,739           0          88.093      27.29     4.13
 2016   123        38,801           0         105          32,212           0          81.144      27.29     4.13
 2017   117        35,735           0          92          29,721           0          74.500      27.29     4.13

 SUB-TOTAL      1,023,000           0       2,550         841,142           0       1,969.136      27.29     4.13
 REMAINDER        276,265           0       1,145         231,066           0         883.994      27.29     4.13
 TOTAL          1,299,265           0       3,695       1,072,208           0       2,853.130      27.29     4.13

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003        2,523,912           0       874,612            0     3,398,524      15,393      15,566     3,367,565
2004        2,311,993           0       809,712            0     3,121,705      14,105      14,418     3,093,182
2005        2,133,177           0       749,073            0     2,882,250      13,014      13,330     2,855,906
2006        1,990,662           0       685,952            0     2,676,614      12,141      12,210     2,652,263
2007        1,840,225           0       638,807            0     2,479,032      11,227      11,371     2,456,434
2008        1,704,653           0       590,427            0     2,295,080      10,400      10,511     2,274,169
2009        1,549,561           0       537,373            0     2,086,934       9,450       9,567     2,067,917
2010        1,456,081           0       504,619            0     1,960,700       8,889       8,981     1,942,830
2011        1,332,303           0       474,772            0     1,807,075       8,124       8,450     1,790,501
2012        1,251,724           0       447,427            0     1,699,151       7,632       7,964     1,683,555
2013        1,176,042           0       422,090            0     1,598,132       7,175       7,512     1,583,445
2014        1,046,328           0       391,036            0     1,437,364       6,382       6,958     1,424,024
2015          947,984           0       363,823            0     1,311,807       5,782       6,480     1,299,545
2016          879,177           0       335,119            0     1,214,296       5,363       5,962     1,202,971
2017          811,078           0       307,688            0     1,118,766       4,951       5,478     1,108,337

SUB-TOT    22,954,900           0     8,132,530            0    31,087,430     140,028     144,758    30,802,644
REMAIN      6,305,704           0     3,650,897            0     9,956,601      38,465      64,985     9,853,151
TOTAL      29,260,604           0    11,783,427            0    41,044,031     178,493     209,743    40,655,795	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003      1,503,323           0           0           0     1,503,323      1,864,242     1,864,242     1,776,453
2004      1,417,703           0           0           0     1,417,703      1,675,479     3,539,721     1,445,111
2005      1,372,024           0           0           0     1,372,024      1,483,882     5,023,603     1,158,548
2006      1,357,931           0           0           0     1,357,931      1,294,332     6,317,935       914,779
2007      1,322,607           0           0           0     1,322,607      1,133,827     7,451,762       725,406
2008      1,287,169           0           0           0     1,287,169        987,000     8,438,762       571,688
2009      1,215,987           0           0           0     1,215,987        851,930     9,290,692       446,639
2010      1,204,907           0           0           0     1,204,907        737,923    10,028,615       350,224
2011      1,158,208           0           0           0     1,158,208        632,293    10,660,908       271,687
2012      1,146,105           0           0           0     1,146,105        537,450    11,198,358       209,043
2013      1,133,040           0           0           0     1,133,040        450,405    11,648,763       158,614
2014      1,056,742           0           0           0     1,056,742        367,282    12,016,045       117,097
2015      1,003,064           0           0           0     1,003,064        296,481    12,312,526        85,578
2016        970,487           0           0           0       970,487        232,484    12,545,010        60,765
2017        935,811           0           0           0       935,811        172,526    12,717,536        40,835

SUBTOT   18,085,108           0           0           0    18,085,108     12,717,536                   8,332,467
REMAIN    8,416,595           0           0           0     8,416,595      1,436,556    14,154,092       176,580
TOTAL    26,501,703           0           0           0    26,501,703     14,154,092                   8,509,047

  LIFE OF SUMMARY IS 38.00 YEARS.	

TENGASCO, INC. TABLE 12
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

STATE SUMMARY
                                                                                      PROVED
    KANSAS PROPERTIES                                                                 BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -       921,114
FINAL   -                                                                                 10.00% -       758,620
REMARKS -                                                                                 15.00% -       634,276
                                                                                          20.00% -       537,228
                                                                                          25.00% -       460,128	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003     1         3,446           0           0           2,330           0           0.000      27.29     0.00
 2004     4         3,157           0          61           2,134           0          48.283      27.29     4.13
 2005     5         2,892           0          70           1,955           0          56.573      27.29     4.13
 2006     5         2,648           0          50           1,790           0          38.765      27.29     4.13
 2007     5         2,426           0          39           1,640           0          31.433      27.29     4.13
 2008     5         2,222           0          32           1,502           0          25.176      27.29     4.13
 2009     4         2,035           0          21           1,376           0          16.952      27.29     4.13
 2010     3         2,504           0          10           1,751           0           8.329      27.29     4.13
 2011     3         2,667           0           9           1,889           0           7.266      27.29     4.13
 2012     3         2,524           0           8           1,793           0           6.340      27.29     4.13
 2013     3         2,072           0           7           1,459           0           5.531      27.29     4.13
 2014     2         1,312           0           3             887           0           2.382      27.29     4.13
 2015     1         1,202           0           0             813           0           0.000      27.29     0.00
 2016     1         1,100           0           0             744           0           0.000      27.29     0.00
 2017     1         1,008           0           0             681           0           0.000      27.29     0.00

 SUB-TOTAL         33,215           0         310          22,744           0         247.030      27.29     4.13
 REMAINDER          1,070           0           0             723           0           0.000      27.29     0.00
 TOTAL             34,285           0         310          23,467           0         247.030      27.29     4.13

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           63,583           0             0            0        63,583         388           0        63,195
2004           58,238           0       199,409            0       257,647         355       3,549       253,743
2005           53,343           0       233,646            0       286,989         326       4,159       282,504
2006           48,859           0       160,098            0       208,957         298       2,851       205,808
2007           44,752           0       129,817            0       174,569         273       2,309       171,987
2008           40,990           0       103,975            0       144,965         250       1,851       142,864
2009           37,544           0        70,013            0       107,557         229       1,247       106,081
2010           47,775           0        34,398            0        82,173         291         612        81,270
2011           51,579           0        30,010            0        81,589         314         534        80,741
2012           48,932           0        26,182            0        75,114         299         466        74,349
2013           39,812           0        22,842            0        62,654         243         407        62,004
2014           24,203           0         9,840            0        34,043         147         175        33,721
2015           22,169           0             0            0        22,169         136           0        22,033
2016           20,306           0             0            0        20,306         123           0        20,183
2017           18,598           0             0            0        18,598         114           0        18,484

SUB-TOT       620,683           0     1,020,230            0     1,640,913       3,786      18,160     1,618,967
REMAIN         19,732           0             0            0        19,732         120           0        19,612
TOTAL         640,415           0     1,020,230            0     1,660,645       3,906      18,160     1,638,579	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         20,411           0       9,750           0        30,161         33,034        33,034        31,057
2004         36,970           0      32,000           0        68,970        184,773       217,807       158,288
2005         42,179           0      12,000           0        54,179        228,325       446,132       178,505
2006         37,486           0           0           0        37,486        168,322       614,454       119,059
2007         34,751           0           0           0        34,751        137,236       751,690        87,862
2008         34,750           0           0           0        34,750        108,114       859,804        62,713
2009         29,959           0           0           0        29,959         76,122       935,926        40,067
2010         26,918           0      11,213           0        38,131         43,139       979,065        20,309
2011         26,919           0           0           0        26,919         53,822     1,032,887        23,119
2012         26,918           0           0           0        26,918         47,431     1,080,318        18,442
2013         25,739           0           0           0        25,739         36,265     1,116,583        12,845
2014         21,862           0           0           0        21,862         11,859     1,128,442         3,860
2015         20,027           0           0           0        20,027          2,006     1,130,448           583
2016         15,970           0           0           0        15,970          4,213     1,134,661         1,103
2017         15,971           0           0           0        15,971          2,513     1,137,174           596

SUBTOT      416,830           0      64,963           0       481,793      1,137,174                     758,408
REMAIN       18,632           0           0           0        18,632            980     1,138,154           212
TOTAL       435,462           0      64,963           0       500,425      1,138,154                     758,620

  LIFE OF SUMMARY IS 16.17 YEARS.	

TENGASCO, INC. TABLE 13
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

STATE SUMMARY
                                                                                      PROVED
    KANSAS PROPERTIES                                                                 UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     1,773,245
FINAL   -                                                                                 10.00% -     1,149,625
REMARKS -                                                                                 15.00% -       776,339
                                                                                          20.00% -       539,347
                                                                                          25.00% -       381,044	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     7        17,752           0           0          14,944           0           0.000      27.29     0.00
 2005     7        19,866           0           0          16,897           0           0.000      27.29     0.00
 2006     7        15,613           0           0          13,235           0           0.000      27.29     0.00
 2007     7        14,707           0           0          12,461           0           0.000      27.29     0.00
 2008     7        13,892           0           0          11,766           0           0.000      27.29     0.00
 2009     7        13,130           0           0          11,114           0           0.000      27.29     0.00
 2010     7        12,413           0           0          10,503           0           0.000      27.29     0.00
 2011     7        11,735           0           0           9,927           0           0.000      27.29     0.00
 2012     7        11,107           0           0           9,389           0           0.000      27.29     0.00
 2013     7        10,508           0           0           8,879           0           0.000      27.29     0.00
 2014     7         9,951           0           0           8,402           0           0.000      27.29     0.00
 2015     7         9,423           0           0           7,955           0           0.000      27.29     0.00
 2016     7         8,927           0           0           7,534           0           0.000      27.29     0.00
 2017     7         8,459           0           0           7,135           0           0.000      27.29     0.00

 SUB-TOTAL        177,483           0           0         150,141           0           0.000      27.29     0.00
 REMAINDER         75,225           0           0          62,651           0           0.000      27.29     0.00
 TOTAL            252,708           0           0         212,792           0           0.000      27.29     0.00

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004          407,832           0             0            0       407,832       2,486           0       405,346
2005          461,082           0             0            0       461,082       2,816           0       458,266
2006          361,200           0             0            0       361,200       2,203           0       358,997
2007          340,072           0             0            0       340,072       2,073           0       337,999
2008          321,104           0             0            0       321,104       1,959           0       319,145
2009          303,311           0             0            0       303,311       1,850           0       301,461
2010          286,605           0             0            0       286,605       1,749           0       284,856
2011          270,921           0             0            0       270,921       1,654           0       269,267
2012          256,183           0             0            0       256,183       1,561           0       254,622
2013          242,341           0             0            0       242,341       1,477           0       240,864
2014          229,323           0             0            0       229,323       1,399           0       227,924
2015          217,084           0             0            0       217,084       1,324           0       215,760
2016          205,567           0             0            0       205,567       1,255           0       204,312
2017          194,732           0             0            0       194,732       1,187           0       193,545

SUB-TOT     4,097,357           0             0            0     4,097,357      24,993           0     4,072,364
REMAIN      1,709,738           0             0            0     1,709,738      10,431           0     1,699,307
TOTAL       5,807,095           0             0            0     5,807,095      35,424           0     5,771,671	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004         54,244           0     693,440           0       747,684       -342,338      -342,338      -297,707
2005         84,657           0           0           0        84,657        373,609        31,271       292,973
2006         80,901           0           0           0        80,901        278,096       309,367       196,483
2007         80,901           0           0           0        80,901        257,098       566,465       164,409
2008         80,901           0           0           0        80,901        238,244       804,709       137,912
2009         84,071           0           0           0        84,071        217,390     1,022,099       113,914
2010         84,072           0           0           0        84,072        200,784     1,222,883        95,241
2011         84,071           0           0           0        84,071        185,196     1,408,079        79,520
2012         84,072           0           0           0        84,072        170,550     1,578,629        66,293
2013         84,071           0           0           0        84,071        156,793     1,735,422        55,168
2014         88,473           0           0           0        88,473        139,451     1,874,873        44,418
2015         88,473           0           0           0        88,473        127,287     2,002,160        36,699
2016         88,473           0           0           0        88,473        115,839     2,117,999        30,234
2017         88,473           0           0           0        88,473        105,072     2,223,071        24,828

SUBTOT    1,155,853           0     693,440           0     1,849,293      2,223,071                   1,040,385
REMAIN    1,051,462           0           0           0     1,051,462        647,845     2,870,916       109,240
TOTAL     2,207,315           0     693,440           0     2,900,755      2,870,916                   1,149,625

  LIFE OF SUMMARY IS 33.80 YEARS.	

TENGASCO, INC. TABLE 14
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

STATE SUMMARY
                                                                                      TOTAL PROBABLE
    KANSAS PROPERTIES                                                                 UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -       396,268
FINAL   -                                                                                 10.00% -       259,925
REMARKS -                                                                                 15.00% -       176,062
                                                                                          20.00% -       121,492
                                                                                          25.00% -        84,420	

                 ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
            -------------------------------------  ------------------------------------------  ------------------
      NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
  PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
 ---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
 2003                   0           0           0               0           0           0.000       0.00     0.00
 2004     2         5,158           0           0           3,933           0           0.000      27.29     0.00
 2005     2         5,700           0           0           4,330           0           0.000      27.29     0.00
 2006     2         4,911           0           0           3,724           0           0.000      27.29     0.00
 2007     2         4,622           0           0           3,506           0           0.000      27.29     0.00
 2008     2         4,349           0           0           3,299           0           0.000      27.29     0.00
 2009     2         4,093           0           0           3,105           0           0.000      27.29     0.00
 2010     2         3,852           0           0           2,924           0           0.000      27.29     0.00
 2011     2         3,625           0           0           2,750           0           0.000      27.29     0.00
 2012     2         3,413           0           0           2,591           0           0.000      27.29     0.00
 2013     2         3,211           0           0           2,438           0           0.000      27.29     0.00
 2014     2         3,023           0           0           2,295           0           0.000      27.29     0.00
 2015     2         2,844           0           0           2,161           0           0.000      27.29     0.00
 2016     2         2,678           0           0           2,034           0           0.000      27.29     0.00
 2017     2         2,520           0           0           1,914           0           0.000      27.29     0.00

 SUB-TOTAL         53,999           0           0          41,004           0           0.000      27.29     0.00
 REMAINDER         14,972           0           0          11,163           0           0.000      27.29     0.00
 TOTAL             68,971           0           0          52,167           0           0.000      27.29     0.00

CUMULATIVE

ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004          107,330           0             0            0       107,330         654           0       106,676
2005          118,162           0             0            0       118,162         721           0       117,441
2006          101,640           0             0            0       101,640         620           0       101,020
2007           95,662           0             0            0        95,662         584           0        95,078
2008           90,039           0             0            0        90,039         550           0        89,489
2009           84,748           0             0            0        84,748         516           0        84,232
2010           79,770           0             0            0        79,770         487           0        79,283
2011           75,087           0             0            0        75,087         458           0        74,629
2012           70,680           0             0            0        70,680         431           0        70,249
2013           66,533           0             0            0        66,533         406           0        66,127
2014           62,633           0             0            0        62,633         382           0        62,251
2015           58,961           0             0            0        58,961         359           0        58,602
2016           55,507           0             0            0        55,507         340           0        55,167
2017           52,256           0             0            0        52,256         318           0        51,938

SUB-TOT     1,119,008           0             0            0     1,119,008       6,826           0     1,112,182
REMAIN        304,628           0             0            0       304,628       1,858           0       302,770
TOTAL       1,423,636           0             0            0     1,423,636       8,684           0     1,414,952	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004         15,016           0     185,313           0       200,329        -93,653       -93,653       -81,744
2005         30,034           0           0           0        30,034         87,407        -6,246        68,496
2006         30,033           0           0           0        30,033         70,987        64,741        50,153
2007         30,034           0           0           0        30,034         65,044       129,785        41,598
2008         30,033           0           0           0        30,033         59,456       189,241        34,421
2009         30,034           0           0           0        30,034         54,198       243,439        28,404
2010         30,033           0           0           0        30,033         49,250       292,689        23,365
2011         30,034           0           0           0        30,034         44,595       337,284        19,152
2012         30,032           0           0           0        30,032         40,217       377,501        15,635
2013         30,034           0           0           0        30,034         36,093       413,594        12,702
2014         30,033           0           0           0        30,033         32,218       445,812        10,264
2015         30,034           0           0           0        30,034         28,568       474,380         8,239
2016         30,033           0           0           0        30,033         25,134       499,514         6,562
2017         30,034           0           0           0        30,034         21,904       521,418         5,178

SUBTOT      405,451           0     185,313           0       590,764        521,418                     242,425
REMAIN      189,801           0           0           0       189,801        112,969       634,387        17,500
TOTAL       595,252           0     185,313           0       780,565        634,387                     259,925

  LIFE OF SUMMARY IS 27.54 YEARS.	

TENGASCO, INC. TABLE 15
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ARPIN SOUTH FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T9S-R20W PROVED
THYFAULT #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -        63,097
FINAL   -   1.000000  0.820313                         27.29                              10.00% -        56,172
REMARKS -                                                                                 15.00% -        50,437
                                                                                          20.00% -        45,642
                                                                                          25.00% -        41,597	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,266           0           0           1,038           0           0.000      27.29     0.00
2004     1         1,111           0           0             912           0           0.000      27.29     0.00
2005     1           978           0           0             803           0           0.000      27.29     0.00
2006     1           861           0           0             706           0           0.000      27.29     0.00
2007     1           758           0           0             621           0           0.000      27.29     0.00
2008     1           667           0           0             547           0           0.000      27.29     0.00
2009     1           586           0           0             481           0           0.000      27.29     0.00
2010     1           517           0           0             424           0           0.000      27.29     0.00
2011     1           309           0           0             254           0           0.000      27.29     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          7,053           0           0           5,786           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              7,053           0           0           5,786           0           0.000      27.29     0.00

CUMULATIVE        26,608           0           0
ULTIMATE          33,661           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           28,330           0             0            0        28,330         173           0        28,157
2004           24,887           0             0            0        24,887         152           0        24,735
2005           21,900           0             0            0        21,900         133           0        21,767
2006           19,273           0             0            0        19,273         118           0        19,155
2007           16,959           0             0            0        16,959         103           0        16,856
2008           14,925           0             0            0        14,925          91           0        14,834
2009           13,133           0             0            0        13,133          80           0        13,053
2010           11,558           0             0            0        11,558          71           0        11,487
2011            6,924           0             0            0         6,924          42           0         6,882
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       157,889           0             0            0       157,889         963           0       156,926
REMAIN              0           0             0            0             0           0           0             0
TOTAL         157,889           0             0            0       157,889         963           0       156,926	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,852           0           0           0         9,852         18,305        18,305        17,453
2004          9,852           0           0           0         9,852         14,883        33,188        12,845
2005          9,852           0           0           0         9,852         11,915        45,103         9,311
2006          9,852           0           0           0         9,852          9,303        54,406         6,582
2007          9,852           0           0           0         9,852          7,004        61,410         4,488
2008          9,852           0           0           0         9,852          4,982        66,392         2,891
2009          9,852           0           0           0         9,852          3,201        69,593         1,683
2010          9,852           0           0           0         9,852          1,635        71,228           781
2011          6,568           0           0           0         6,568            314        71,542           138
2012              0           0           0           0             0              0        71,542             0
2013              0           0           0           0             0              0        71,542             0
2014              0           0           0           0             0              0        71,542             0
2015              0           0           0           0             0              0        71,542             0
2016              0           0           0           0             0              0        71,542             0
2017              0           0           0           0             0              0        71,542             0

SUBTOT       85,384           0           0           0        85,384         71,542                      56,172
REMAIN            0           0           0           0             0              0        71,542             0
TOTAL        85,384           0           0           0        85,384         71,542                      56,172

  LIFE OF EVALUATION IS 8.67 YEARS.
  FINAL PRODUCTION RATE: 37 BBLS/MO	

TENGASCO, INC. TABLE 16
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ASH CREEK FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T20S-R15W PROVED
UNRUH #2 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.812500                                                                       5.00% -             0
FINAL   -   0.812500                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        29,026           0           0
ULTIMATE          29,026           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 17
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
AXELSON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T7S-R19W PROVED
AXELSON LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.792969                         27.29                               5.00% -       349,091
FINAL   -   1.000000  0.792969                         27.29                              10.00% -       237,273
REMARKS -                                                                                 15.00% -       178,088
                                                                                          20.00% -       142,244
                                                                                          25.00% -       118,382	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,947           0           0           1,544           0           0.000      27.29     0.00
2004     2         1,883           0           0           1,493           0           0.000      27.29     0.00
2005     2         1,821           0           0           1,444           0           0.000      27.29     0.00
2006     2         1,760           0           0           1,396           0           0.000      27.29     0.00
2007     2         1,703           0           0           1,350           0           0.000      27.29     0.00
2008     2         1,646           0           0           1,306           0           0.000      27.29     0.00
2009     2         1,592           0           0           1,262           0           0.000      27.29     0.00
2010     2         1,540           0           0           1,221           0           0.000      27.29     0.00
2011     2         1,489           0           0           1,180           0           0.000      27.29     0.00
2012     2         1,439           0           0           1,142           0           0.000      27.29     0.00
2013     2         1,392           0           0           1,104           0           0.000      27.29     0.00
2014     2         1,347           0           0           1,067           0           0.000      27.29     0.00
2015     2         1,301           0           0           1,033           0           0.000      27.29     0.00
2016     2         1,259           0           0             998           0           0.000      27.29     0.00
2017     2         1,217           0           0             965           0           0.000      27.29     0.00

SUB-TOTAL         23,336           0           0          18,505           0           0.000      27.29     0.00
REMAINDER         19,183           0           0          15,212           0           0.000      27.29     0.00
TOTAL             42,519           0           0          33,717           0           0.000      27.29     0.00

CUMULATIVE        61,741           0           0
ULTIMATE         104,260           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           42,137           0             0            0        42,137         257           0        41,880
2004           40,746           0             0            0        40,746         249           0        40,497
2005           39,401           0             0            0        39,401         240           0        39,161
2006           38,101           0             0            0        38,101         232           0        37,869
2007           36,844           0             0            0        36,844         225           0        36,619
2008           35,628           0             0            0        35,628         217           0        35,411
2009           34,452           0             0            0        34,452         211           0        34,241
2010           33,315           0             0            0        33,315         203           0        33,112
2011           32,216           0             0            0        32,216         196           0        32,020
2012           31,153           0             0            0        31,153         190           0        30,963
2013           30,125           0             0            0        30,125         184           0        29,941
2014           29,130           0             0            0        29,130         178           0        28,952
2015           28,170           0             0            0        28,170         172           0        27,998
2016           27,239           0             0            0        27,239         166           0        27,073
2017           26,341           0             0            0        26,341         160           0        26,181

SUB-TOT       504,998           0             0            0       504,998       3,080           0       501,918
REMAIN        415,127           0             0            0       415,127       2,533           0       412,594
TOTAL         920,125           0             0            0       920,125       5,613           0       914,512	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          8,208           0           0           0         8,208         33,672        33,672        32,061
2004          8,208           0           0           0         8,208         32,289        65,961        27,829
2005          8,208           0           0           0         8,208         30,953        96,914        24,150
2006          8,208           0           0           0         8,208         29,661       126,575        20,948
2007          8,208           0           0           0         8,208         28,411       154,986        18,163
2008          8,208           0           0           0         8,208         27,203       182,189        15,743
2009          8,208           0           0           0         8,208         26,033       208,222        13,638
2010          8,208           0           0           0         8,208         24,904       233,126        11,809
2011          8,208           0           0           0         8,208         23,812       256,938        10,222
2012          8,208           0           0           0         8,208         22,755       279,693         8,842
2013          8,208           0           0           0         8,208         21,733       301,426         7,644
2014          8,208           0           0           0         8,208         20,744       322,170         6,605
2015          8,208           0           0           0         8,208         19,790       341,960         5,704
2016          8,208           0           0           0         8,208         18,865       360,825         4,922
2017          8,208           0           0           0         8,208         17,973       378,798         4,245

SUBTOT      123,120           0           0           0       123,120        378,798                     212,525
REMAIN      188,784           0           0           0       188,784        223,810       602,608        24,748
TOTAL       311,904           0           0           0       311,904        602,608                     237,273

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 46 BBLS/MO	

TENGASCO, INC. TABLE 18
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BEISEL FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T14S-R12W PROVED
BEISEL LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        33,873
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        31,021
REMARKS -                                                                                 15.00% -        28,537
                                                                                          20.00% -        26,366
                                                                                          25.00% -        24,459	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     5         2,274           0           0           1,990           0           0.000      27.29     0.00
2004     5         2,169           0           0           1,898           0           0.000      27.29     0.00
2005     5         2,070           0           0           1,811           0           0.000      27.29     0.00
2006     5         1,975           0           0           1,728           0           0.000      27.29     0.00
2007     5         1,883           0           0           1,648           0           0.000      27.29     0.00
2008     5         1,503           0           0           1,315           0           0.000      27.29     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         11,874           0           0          10,390           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             11,874           0           0          10,390           0           0.000      27.29     0.00

CUMULATIVE       169,272           0           0
ULTIMATE         181,146           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           54,301           0             0            0        54,301         331           0        53,970
2004           51,803           0             0            0        51,803         316           0        51,487
2005           49,421           0             0            0        49,421         302           0        49,119
2006           47,147           0             0            0        47,147         287           0        46,860
2007           44,978           0             0            0        44,978         275           0        44,703
2008           35,897           0             0            0        35,897         219           0        35,678
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       283,547           0             0            0       283,547       1,730           0       281,817
REMAIN              0           0             0            0             0           0           0             0
TOTAL         283,547           0             0            0       283,547       1,730           0       281,817	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         41,940           0           0           0        41,940         12,030        12,030        11,470
2004         41,940           0           0           0        41,940          9,547        21,577         8,243
2005         41,940           0           0           0        41,940          7,179        28,756         5,614
2006         41,940           0           0           0        41,940          4,920        33,676         3,486
2007         41,940           0           0           0        41,940          2,763        36,439         1,777
2008         34,950           0           0           0        34,950            728        37,167           431
2009              0           0           0           0             0              0        37,167             0
2010              0           0           0           0             0              0        37,167             0
2011              0           0           0           0             0              0        37,167             0
2012              0           0           0           0             0              0        37,167             0
2013              0           0           0           0             0              0        37,167             0
2014              0           0           0           0             0              0        37,167             0
2015              0           0           0           0             0              0        37,167             0
2016              0           0           0           0             0              0        37,167             0
2017              0           0           0           0             0              0        37,167             0

SUBTOT      244,650           0           0           0       244,650         37,167                      31,021
REMAIN            0           0           0           0             0              0        37,167             0
TOTAL       244,650           0           0           0       244,650         37,167                      31,021

  LIFE OF EVALUATION IS 5.83 YEARS.
  FINAL PRODUCTION RATE: 148 BBLS/MO	

TENGASCO, INC. TABLE 19
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BEISEL FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T14S-R12W PROVED
BEISEL #9 PUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       385,776
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       254,763
REMARKS -                                                                                 15.00% -       175,129
                                                                                          20.00% -       123,713
                                                                                          25.00% -        88,911	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         1,765           0           0           1,544           0           0.000      27.29     0.00
2005     1         3,327           0           0           2,912           0           0.000      27.29     0.00
2006     1         3,075           0           0           2,690           0           0.000      27.29     0.00
2007     1         2,842           0           0           2,487           0           0.000      27.29     0.00
2008     1         2,625           0           0           2,297           0           0.000      27.29     0.00
2009     1         2,427           0           0           2,123           0           0.000      27.29     0.00
2010     1         2,242           0           0           1,962           0           0.000      27.29     0.00
2011     1         2,071           0           0           1,813           0           0.000      27.29     0.00
2012     1         1,915           0           0           1,675           0           0.000      27.29     0.00
2013     1         1,769           0           0           1,548           0           0.000      27.29     0.00
2014     1         1,635           0           0           1,430           0           0.000      27.29     0.00
2015     1         1,511           0           0           1,322           0           0.000      27.29     0.00
2016     1         1,396           0           0           1,222           0           0.000      27.29     0.00
2017     1         1,289           0           0           1,128           0           0.000      27.29     0.00

SUB-TOTAL         29,889           0           0          26,153           0           0.000      27.29     0.00
REMAINDER          8,835           0           0           7,731           0           0.000      27.29     0.00
TOTAL             38,724           0           0          33,884           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          38,724           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           42,144           0             0            0        42,144         257           0        41,887
2005           79,457           0             0            0        79,457         485           0        78,972
2006           73,424           0             0            0        73,424         448           0        72,976
2007           67,849           0             0            0        67,849         414           0        67,435
2008           62,697           0             0            0        62,697         382           0        62,315
2009           57,936           0             0            0        57,936         353           0        57,583
2010           53,537           0             0            0        53,537         327           0        53,210
2011           49,472           0             0            0        49,472         302           0        49,170
2012           45,716           0             0            0        45,716         279           0        45,437
2013           42,245           0             0            0        42,245         257           0        41,988
2014           39,037           0             0            0        39,037         238           0        38,799
2015           36,073           0             0            0        36,073         220           0        35,853
2016           33,333           0             0            0        33,333         204           0        33,129
2017           30,803           0             0            0        30,803         188           0        30,615

SUB-TOT       713,723           0             0            0       713,723       4,354           0       709,369
REMAIN        210,958           0             0            0       210,958       1,287           0       209,671
TOTAL         924,681           0             0            0       924,681       5,641           0       919,040	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          4,194           0     100,000           0       104,194        -62,307       -62,307       -54,094
2005          8,388           0           0           0         8,388         70,584         8,277        55,090
2006          8,388           0           0           0         8,388         64,588        72,865        45,633
2007          8,388           0           0           0         8,388         59,047       131,912        37,764
2008          8,388           0           0           0         8,388         53,927       185,839        31,220
2009          8,388           0           0           0         8,388         49,195       235,034        25,782
2010          8,388           0           0           0         8,388         44,822       279,856        21,263
2011          8,388           0           0           0         8,388         40,782       320,638        17,513
2012          8,388           0           0           0         8,388         37,049       357,687        14,403
2013          8,388           0           0           0         8,388         33,600       391,287        11,823
2014          8,388           0           0           0         8,388         30,411       421,698         9,687
2015          8,388           0           0           0         8,388         27,465       449,163         7,920
2016          8,388           0           0           0         8,388         24,741       473,904         6,458
2017          8,388           0           0           0         8,388         22,227       496,131         5,252

SUBTOT      113,238           0     100,000           0       213,238        496,131                     235,714
REMAIN       87,871           0           0           0        87,871        121,800       617,931        19,049
TOTAL       201,109           0     100,000           0       301,109        617,931                     254,763

  LIFE OF EVALUATION IS 25.48 YEARS.
  FINAL PRODUCTION RATE: 45 BBLS/MO	

TENGASCO, INC. TABLE 20
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BIELMAN FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T15S-R18W PROVED
GRASS #5 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       108,257
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        93,097
REMARKS -                                                                                 15.00% -        81,219
                                                                                          20.00% -        71,759
                                                                                          25.00% -        64,108	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,640           0           0           1,435           0           0.000      27.29     0.00
2004     1         1,498           0           0           1,311           0           0.000      27.29     0.00
2005     1         1,367           0           0           1,196           0           0.000      27.29     0.00
2006     1         1,248           0           0           1,092           0           0.000      27.29     0.00
2007     1         1,140           0           0             997           0           0.000      27.29     0.00
2008     1         1,040           0           0             911           0           0.000      27.29     0.00
2009     1           951           0           0             831           0           0.000      27.29     0.00
2010     1           867           0           0             759           0           0.000      27.29     0.00
2011     1           792           0           0             693           0           0.000      27.29     0.00
2012     1           723           0           0             633           0           0.000      27.29     0.00
2013     1           660           0           0             577           0           0.000      27.29     0.00
2014     1           408           0           0             357           0           0.000      27.29     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         12,334           0           0          10,792           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             12,334           0           0          10,792           0           0.000      27.29     0.00

CUMULATIVE       121,911           0           0
ULTIMATE         134,245           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           39,166           0             0            0        39,166         239           0        38,927
2004           35,759           0             0            0        35,759         218           0        35,541
2005           32,648           0             0            0        32,648         199           0        32,449
2006           29,808           0             0            0        29,808         182           0        29,626
2007           27,214           0             0            0        27,214         166           0        27,048
2008           24,847           0             0            0        24,847         152           0        24,695
2009           22,685           0             0            0        22,685         138           0        22,547
2010           20,711           0             0            0        20,711         126           0        20,585
2011           18,910           0             0            0        18,910         116           0        18,794
2012           17,264           0             0            0        17,264         105           0        17,159
2013           15,763           0             0            0        15,763          96           0        15,667
2014            9,738           0             0            0         9,738          60           0         9,678
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       294,513           0             0            0       294,513       1,797           0       292,716
REMAIN              0           0             0            0             0           0           0             0
TOTAL         294,513           0             0            0       294,513       1,797           0       292,716	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         14,124           0           0           0        14,124         24,803        24,803        23,636
2004         14,124           0           0           0        14,124         21,417        46,220        18,476
2005         14,124           0           0           0        14,124         18,325        64,545        14,311
2006         14,124           0           0           0        14,124         15,502        80,047        10,960
2007         14,124           0           0           0        14,124         12,924        92,971         8,272
2008         14,124           0           0           0        14,124         10,571       103,542         6,126
2009         14,124           0           0           0        14,124          8,423       111,965         4,420
2010         14,124           0           0           0        14,124          6,461       118,426         3,070
2011         14,124           0           0           0        14,124          4,670       123,096         2,010
2012         14,124           0           0           0        14,124          3,035       126,131         1,184
2013         14,124           0           0           0        14,124          1,543       127,674           547
2014          9,416           0           0           0         9,416            262       127,936            85
2015              0           0           0           0             0              0       127,936             0
2016              0           0           0           0             0              0       127,936             0
2017              0           0           0           0             0              0       127,936             0

SUBTOT      164,780           0           0           0       164,780        127,936                      93,097
REMAIN            0           0           0           0             0              0       127,936             0
TOTAL       164,780           0           0           0       164,780        127,936                      93,097

  LIFE OF EVALUATION IS 11.67 YEARS.
  FINAL PRODUCTION RATE: 50 BBLS/MO	

TENGASCO, INC. TABLE 21
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CARPENTER FIELD, EDWARDS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 1-T24S-R17W PROVED
HENNING #1 (LNSG-PSLV) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.875000  0.708801                         27.29                               5.00% -        46,735
FINAL   -   0.875000  0.708801                         27.29                              10.00% -        35,472
REMARKS -                                                                                 15.00% -        28,278
                                                                                          20.00% -        23,394
                                                                                          25.00% -        19,905	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           506           0           0             358           0           0.000      27.29     0.00
2004     1           485           0           0             344           0           0.000      27.29     0.00
2005     1           466           0           0             331           0           0.000      27.29     0.00
2006     1           447           0           0             317           0           0.000      27.29     0.00
2007     1           430           0           0             304           0           0.000      27.29     0.00
2008     1           412           0           0             292           0           0.000      27.29     0.00
2009     1           396           0           0             281           0           0.000      27.29     0.00
2010     1           380           0           0             269           0           0.000      27.29     0.00
2011     1           364           0           0             259           0           0.000      27.29     0.00
2012     1           351           0           0             248           0           0.000      27.29     0.00
2013     1           336           0           0             238           0           0.000      27.29     0.00
2014     1           322           0           0             229           0           0.000      27.29     0.00
2015     1           310           0           0             219           0           0.000      27.29     0.00
2016     1           298           0           0             211           0           0.000      27.29     0.00
2017     1           285           0           0             203           0           0.000      27.29     0.00

SUB-TOTAL          5,788           0           0           4,103           0           0.000      27.29     0.00
REMAINDER          2,281           0           0           1,616           0           0.000      27.29     0.00
TOTAL              8,069           0           0           5,719           0           0.000      27.29     0.00

CUMULATIVE        17,789           0           0
ULTIMATE          25,858           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            9,780           0             0            0         9,780          60           0         9,720
2004            9,389           0             0            0         9,389          57           0         9,332
2005            9,013           0             0            0         9,013          55           0         8,958
2006            8,653           0             0            0         8,653          53           0         8,600
2007            8,307           0             0            0         8,307          50           0         8,257
2008            7,974           0             0            0         7,974          49           0         7,925
2009            7,656           0             0            0         7,656          47           0         7,609
2010            7,349           0             0            0         7,349          45           0         7,304
2011            7,055           0             0            0         7,055          43           0         7,012
2012            6,773           0             0            0         6,773          41           0         6,732
2013            6,502           0             0            0         6,502          40           0         6,462
2014            6,242           0             0            0         6,242          38           0         6,204
2015            5,993           0             0            0         5,993          36           0         5,957
2016            5,752           0             0            0         5,752          35           0         5,717
2017            5,523           0             0            0         5,523          34           0         5,489

SUB-TOT       111,961           0             0            0       111,961         683           0       111,278
REMAIN         44,123           0             0            0        44,123         269           0        43,854
TOTAL         156,084           0             0            0       156,084         952           0       155,132	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,591           0           0           0         3,591          6,129         6,129         5,837
2004          3,591           0           0           0         3,591          5,741        11,870         4,949
2005          3,591           0           0           0         3,591          5,367        17,237         4,188
2006          3,591           0           0           0         3,591          5,009        22,246         3,539
2007          3,591           0           0           0         3,591          4,666        26,912         2,983
2008          3,591           0           0           0         3,591          4,334        31,246         2,509
2009          3,591           0           0           0         3,591          4,018        35,264         2,106
2010          3,591           0           0           0         3,591          3,713        38,977         1,761
2011          3,591           0           0           0         3,591          3,421        42,398         1,469
2012          3,591           0           0           0         3,591          3,141        45,539         1,221
2013          3,591           0           0           0         3,591          2,871        48,410         1,010
2014          3,591           0           0           0         3,591          2,613        51,023           832
2015          3,591           0           0           0         3,591          2,366        53,389           683
2016          3,591           0           0           0         3,591          2,126        55,515           554
2017          3,591           0           0           0         3,591          1,898        57,413           449

SUBTOT       53,865           0           0           0        53,865         57,413                      34,090
REMAIN       35,611           0           0           0        35,611          8,243        65,656         1,382
TOTAL        89,476           0           0           0        89,476         65,656                      35,472

  LIFE OF EVALUATION IS 24.92 YEARS.
  FINAL PRODUCTION RATE: 16 BBLS/MO	

TENGASCO, INC. TABLE 22
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CARROLL FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T17S-R14W PROVED
KEENAN -B- LEASE (ABCK-KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.992754  0.868660                         27.29                               5.00% -        34,035
FINAL   -   0.992754  0.868660                         27.29                              10.00% -        28,873
REMARKS -                                                                                 15.00% -        24,891
                                                                                          20.00% -        21,766
                                                                                          25.00% -        19,272	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,005           0           0             873           0           0.000      27.29     0.00
2004     2           974           0           0             846           0           0.000      27.29     0.00
2005     2           945           0           0             821           0           0.000      27.29     0.00
2006     2           917           0           0             797           0           0.000      27.29     0.00
2007     2           890           0           0             772           0           0.000      27.29     0.00
2008     2           862           0           0             750           0           0.000      27.29     0.00
2009     2           837           0           0             727           0           0.000      27.29     0.00
2010     2           812           0           0             705           0           0.000      27.29     0.00
2011     2           787           0           0             684           0           0.000      27.29     0.00
2012     2           764           0           0             663           0           0.000      27.29     0.00
2013     2           741           0           0             644           0           0.000      27.29     0.00
2014     2           659           0           0             573           0           0.000      27.29     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         10,193           0           0           8,855           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             10,193           0           0           8,855           0           0.000      27.29     0.00

CUMULATIVE       114,764           0           0
ULTIMATE         124,957           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           23,815           0             0            0        23,815         145           0        23,670
2004           23,101           0             0            0        23,101         141           0        22,960
2005           22,408           0             0            0        22,408         137           0        22,271
2006           21,736           0             0            0        21,736         132           0        21,604
2007           21,083           0             0            0        21,083         129           0        20,954
2008           20,451           0             0            0        20,451         125           0        20,326
2009           19,838           0             0            0        19,838         121           0        19,717
2010           19,242           0             0            0        19,242         117           0        19,125
2011           18,665           0             0            0        18,665         114           0        18,551
2012           18,105           0             0            0        18,105         111           0        17,994
2013           17,562           0             0            0        17,562         107           0        17,455
2014           15,635           0             0            0        15,635          95           0        15,540
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       241,641           0             0            0       241,641       1,474           0       240,167
REMAIN              0           0             0            0             0           0           0             0
TOTAL         241,641           0             0            0       241,641       1,474           0       240,167	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         16,726           0           0           0        16,726          6,944         6,944         6,615
2004         16,726           0           0           0        16,726          6,234        13,178         5,376
2005         16,726           0           0           0        16,726          5,545        18,723         4,329
2006         16,726           0           0           0        16,726          4,878        23,601         3,448
2007         16,726           0           0           0        16,726          4,228        27,829         2,705
2008         16,726           0           0           0        16,726          3,600        31,429         2,086
2009         16,725           0           0           0        16,725          2,992        34,421         1,569
2010         16,726           0           0           0        16,726          2,399        36,820         1,140
2011         16,726           0           0           0        16,726          1,825        38,645           785
2012         16,726           0           0           0        16,726          1,268        39,913           494
2013         16,726           0           0           0        16,726            729        40,642           258
2014         15,332           0           0           0        15,332            208        40,850            68
2015              0           0           0           0             0              0        40,850             0
2016              0           0           0           0             0              0        40,850             0
2017              0           0           0           0             0              0        40,850             0

SUBTOT      199,317           0           0           0       199,317         40,850                      28,873
REMAIN            0           0           0           0             0              0        40,850             0
TOTAL       199,317           0           0           0       199,317         40,850                      28,873

  LIFE OF EVALUATION IS 11.92 YEARS.
  FINAL PRODUCTION RATE: 59 BBLS/MO	

TENGASCO, INC. TABLE 23
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CENTERVIEW FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T24S-R13W PROVED
BECKERDITE #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937500  0.807495                         27.29                               5.00% -        74,223
FINAL   -   0.937500  0.807495                         27.29                              10.00% -        62,903
REMARKS -                                                                                 15.00% -        54,218
                                                                                          20.00% -        47,427
                                                                                          25.00% -        42,023	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,338           0           0           1,081           0           0.000      27.29     0.00
2004     1         1,258           0           0           1,015           0           0.000      27.29     0.00
2005     1         1,182           0           0             955           0           0.000      27.29     0.00
2006     1         1,112           0           0             898           0           0.000      27.29     0.00
2007     1         1,045           0           0             843           0           0.000      27.29     0.00
2008     1           982           0           0             793           0           0.000      27.29     0.00
2009     1           923           0           0             746           0           0.000      27.29     0.00
2010     1           868           0           0             700           0           0.000      27.29     0.00
2011     1           815           0           0             659           0           0.000      27.29     0.00
2012     1           767           0           0             619           0           0.000      27.29     0.00
2013     1           721           0           0             582           0           0.000      27.29     0.00
2014     1           677           0           0             547           0           0.000      27.29     0.00
2015     1           377           0           0             304           0           0.000      27.29     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         12,065           0           0           9,742           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             12,065           0           0           9,742           0           0.000      27.29     0.00

CUMULATIVE        27,793           0           0
ULTIMATE          39,858           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           29,489           0             0            0        29,489         180           0        29,309
2004           27,719           0             0            0        27,719         169           0        27,550
2005           26,056           0             0            0        26,056         159           0        25,897
2006           24,493           0             0            0        24,493         149           0        24,344
2007           23,023           0             0            0        23,023         141           0        22,882
2008           21,642           0             0            0        21,642         132           0        21,510
2009           20,344           0             0            0        20,344         124           0        20,220
2010           19,122           0             0            0        19,122         117           0        19,005
2011           17,976           0             0            0        17,976         109           0        17,867
2012           16,897           0             0            0        16,897         103           0        16,794
2013           15,883           0             0            0        15,883          97           0        15,786
2014           14,930           0             0            0        14,930          91           0        14,839
2015            8,292           0             0            0         8,292          51           0         8,241
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       265,866           0             0            0       265,866       1,622           0       264,244
REMAIN              0           0             0            0             0           0           0             0
TOTAL         265,866           0             0            0       265,866       1,622           0       264,244	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         13,905           0           0           0        13,905         15,404        15,404        14,676
2004         13,905           0           0           0        13,905         13,645        29,049        11,769
2005         13,905           0           0           0        13,905         11,992        41,041         9,363
2006         13,905           0           0           0        13,905         10,439        51,480         7,378
2007         13,905           0           0           0        13,905          8,977        60,457         5,745
2008         13,905           0           0           0        13,905          7,605        68,062         4,406
2009         13,905           0           0           0        13,905          6,315        74,377         3,312
2010         13,905           0           0           0        13,905          5,100        79,477         2,422
2011         13,905           0           0           0        13,905          3,962        83,439         1,704
2012         13,905           0           0           0        13,905          2,889        86,328         1,126
2013         13,905           0           0           0        13,905          1,881        88,209           664
2014         13,905           0           0           0        13,905            934        89,143           300
2015          8,111           0           0           0         8,111            130        89,273            38
2016              0           0           0           0             0              0        89,273             0
2017              0           0           0           0             0              0        89,273             0

SUBTOT      174,971           0           0           0       174,971         89,273                      62,903
REMAIN            0           0           0           0             0              0        89,273             0
TOTAL       174,971           0           0           0       174,971         89,273                      62,903

  LIFE OF EVALUATION IS 12.58 YEARS.
  FINAL PRODUCTION RATE: 53 BBLS/MO	

                                 TENGASCO, INC.                    TABLE     24
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

CHASE-SILICA FIELD, BARTON COUNTY, KANSAS                             OIL LEASE
  TENGASCO, INC. - OPERATOR   10-T20S-R11W                            PROVED
    LANDER #1                                                         PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.915630  0.741803                         27.29                               5.00% -       151,446
FINAL   -   0.915630  0.741803                         27.29                              10.00% -       117,718
REMARKS -                                                                                 15.00% -        95,299
                                                                                          20.00% -        79,643
                                                                                          25.00% -        68,233	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,737           0           0           1,288           0           0.000      27.29     0.00
2004     1         1,660           0           0           1,232           0           0.000      27.29     0.00
2005     1         1,587           0           0           1,177           0           0.000      27.29     0.00
2006     1         1,517           0           0           1,126           0           0.000      27.29     0.00
2007     1         1,451           0           0           1,076           0           0.000      27.29     0.00
2008     1         1,387           0           0           1,028           0           0.000      27.29     0.00
2009     1         1,325           0           0             984           0           0.000      27.29     0.00
2010     1         1,268           0           0             940           0           0.000      27.29     0.00
2011     1         1,211           0           0             899           0           0.000      27.29     0.00
2012     1         1,159           0           0             859           0           0.000      27.29     0.00
2013     1         1,107           0           0             822           0           0.000      27.29     0.00
2014     1         1,059           0           0             785           0           0.000      27.29     0.00
2015     1         1,012           0           0             751           0           0.000      27.29     0.00
2016     1           967           0           0             717           0           0.000      27.29     0.00
2017     1           925           0           0             686           0           0.000      27.29     0.00

SUB-TOTAL         19,372           0           0          14,370           0           0.000      27.29     0.00
REMAINDER          5,320           0           0           3,947           0           0.000      27.29     0.00
TOTAL             24,692           0           0          18,317           0           0.000      27.29     0.00

CUMULATIVE        24,095           0           0
ULTIMATE          48,787           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           35,156           0             0            0        35,156         214           0        34,942
2004           33,609           0             0            0        33,609         205           0        33,404
2005           32,131           0             0            0        32,131         196           0        31,935
2006           30,716           0             0            0        30,716         188           0        30,528
2007           29,366           0             0            0        29,366         179           0        29,187
2008           28,073           0             0            0        28,073         171           0        27,902
2009           26,838           0             0            0        26,838         164           0        26,674
2010           25,657           0             0            0        25,657         156           0        25,501
2011           24,528           0             0            0        24,528         150           0        24,378
2012           23,448           0             0            0        23,448         143           0        23,305
2013           22,418           0             0            0        22,418         137           0        22,281
2014           21,430           0             0            0        21,430         131           0        21,299
2015           20,488           0             0            0        20,488         125           0        20,363
2016           19,586           0             0            0        19,586         119           0        19,467
2017           18,725           0             0            0        18,725         114           0        18,611

SUB-TOT       392,169           0             0            0       392,169       2,392           0       389,777
REMAIN        107,690           0             0            0       107,690         657           0       107,033
TOTAL         499,859           0             0            0       499,859       3,049           0       496,810	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         13,361           0           0           0        13,361         21,581        21,581        20,553
2004         13,361           0           0           0        13,361         20,043        41,624        17,280
2005         13,361           0           0           0        13,361         18,574        60,198        14,496
2006         13,360           0           0           0        13,360         17,168        77,366        12,128
2007         13,361           0           0           0        13,361         15,826        93,192        10,121
2008         13,361           0           0           0        13,361         14,541       107,733         8,418
2009         13,361           0           0           0        13,361         13,313       121,046         6,977
2010         13,361           0           0           0        13,361         12,140       133,186         5,759
2011         13,361           0           0           0        13,361         11,017       144,203         4,732
2012         13,361           0           0           0        13,361          9,944       154,147         3,865
2013         13,361           0           0           0        13,361          8,920       163,067         3,140
2014         13,360           0           0           0        13,360          7,939       171,006         2,529
2015         13,361           0           0           0        13,361          7,002       178,008         2,020
2016         13,361           0           0           0        13,361          6,106       184,114         1,594
2017         13,361           0           0           0        13,361          5,250       189,364         1,241

SUBTOT      200,413           0           0           0       200,413        189,364                     114,853
REMAIN       91,299           0           0           0        91,299         15,734       205,098         2,865
TOTAL       291,712           0           0           0       291,712        205,098                     117,718

  LIFE OF EVALUATION IS 21.83 YEARS.
  FINAL PRODUCTION RATE: 56 BBLS/MO	

TENGASCO, INC. TABLE 25
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHASE-SILICA FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T20S-R11W PROBABLE
LANDER #3 PBUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.915630  0.741803                         27.29                               5.00% -       356,668
FINAL   -   0.915630  0.741803                         27.29                              10.00% -       239,032
REMARKS -                                                                                 15.00% -       167,567
                                                                                          20.00% -       121,299
                                                                                          25.00% -        89,809	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         3,129           0           0           2,321           0           0.000      27.29     0.00
2005     1         3,790           0           0           2,812           0           0.000      27.29     0.00
2006     1         3,375           0           0           2,503           0           0.000      27.29     0.00
2007     1         3,165           0           0           2,348           0           0.000      27.29     0.00
2008     1         2,968           0           0           2,202           0           0.000      27.29     0.00
2009     1         2,784           0           0           2,065           0           0.000      27.29     0.00
2010     1         2,611           0           0           1,937           0           0.000      27.29     0.00
2011     1         2,449           0           0           1,816           0           0.000      27.29     0.00
2012     1         2,297           0           0           1,704           0           0.000      27.29     0.00
2013     1         2,154           0           0           1,598           0           0.000      27.29     0.00
2014     1         2,020           0           0           1,498           0           0.000      27.29     0.00
2015     1         1,894           0           0           1,406           0           0.000      27.29     0.00
2016     1         1,777           0           0           1,318           0           0.000      27.29     0.00
2017     1         1,666           0           0           1,236           0           0.000      27.29     0.00

SUB-TOTAL         36,079           0           0          26,764           0           0.000      27.29     0.00
REMAINDER         13,902           0           0          10,312           0           0.000      27.29     0.00
TOTAL             49,981           0           0          37,076           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          49,981           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           63,338           0             0            0        63,338         386           0        62,952
2005           76,728           0             0            0        76,728         468           0        76,260
2006           68,320           0             0            0        68,320         417           0        67,903
2007           64,075           0             0            0        64,075         391           0        63,684
2008           60,093           0             0            0        60,093         367           0        59,726
2009           56,359           0             0            0        56,359         343           0        56,016
2010           52,857           0             0            0        52,857         323           0        52,534
2011           49,572           0             0            0        49,572         302           0        49,270
2012           46,492           0             0            0        46,492         284           0        46,208
2013           43,602           0             0            0        43,602         266           0        43,336
2014           40,894           0             0            0        40,894         249           0        40,645
2015           38,352           0             0            0        38,352         234           0        38,118
2016           35,969           0             0            0        35,969         220           0        35,749
2017           33,734           0             0            0        33,734         205           0        33,529

SUB-TOT       730,385           0             0            0       730,385       4,455           0       725,930
REMAIN        281,421           0             0            0       281,421       1,717           0       279,704
TOTAL       1,011,806           0             0            0     1,011,806       6,172           0     1,005,634	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,680           0      91,563           0        98,243        -35,291       -35,291       -31,157
2005         13,361           0           0           0        13,361         62,899        27,608        49,204
2006         13,361           0           0           0        13,361         54,542        82,150        38,532
2007         13,361           0           0           0        13,361         50,323       132,473        32,182
2008         13,361           0           0           0        13,361         46,365       178,838        26,840
2009         13,361           0           0           0        13,361         42,655       221,493        22,353
2010         13,361           0           0           0        13,361         39,173       260,666        18,582
2011         13,361           0           0           0        13,361         35,909       296,575        15,420
2012         13,360           0           0           0        13,360         32,848       329,423        12,769
2013         13,361           0           0           0        13,361         29,975       359,398        10,547
2014         13,361           0           0           0        13,361         27,284       386,682         8,691
2015         13,361           0           0           0        13,361         24,757       411,439         7,138
2016         13,361           0           0           0        13,361         22,388       433,827         5,844
2017         13,361           0           0           0        13,361         20,168       453,995         4,766

SUBTOT      180,372           0      91,563           0       271,935        453,995                     221,711
REMAIN      167,571           0           0           0       167,571        112,133       566,128        17,321
TOTAL       347,943           0      91,563           0       439,506        566,128                     239,032

  LIFE OF EVALUATION IS 27.54 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

                                 TENGASCO, INC.                    TABLE     26
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

CHASE-SILICA FIELD, BARTON COUNTY, KANSAS                             OIL LEASE
  TENGASCO, INC. - OPERATOR   3-T20S-R11W                             PROVED
    ROSE LEASE                                                        PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        94,653           0           0
ULTIMATE          94,653           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 27
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHEYENNE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 2-T19S-R12W PROVED
HAMMEKE #1 (SIMPSON) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.833984                         27.29                               5.00% -        66,998
FINAL   -   1.000000  0.833984                         27.29                              10.00% -        56,500
REMARKS -                                                                                 15.00% -        48,808
                                                                                          20.00% -        43,006
                                                                                          25.00% -        38,510	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,290           0           0           1,076           0           0.000      27.29     0.00
2004     1           912           0           0             761           0           0.000      27.29     0.00
2005     1           809           0           0             674           0           0.000      27.29     0.00
2006     1           773           0           0             645           0           0.000      27.29     0.00
2007     1           740           0           0             617           0           0.000      27.29     0.00
2008     1           706           0           0             589           0           0.000      27.29     0.00
2009     1           676           0           0             563           0           0.000      27.29     0.00
2010     1           646           0           0             539           0           0.000      27.29     0.00
2011     1           617           0           0             515           0           0.000      27.29     0.00
2012     1           591           0           0             492           0           0.000      27.29     0.00
2013     1           564           0           0             471           0           0.000      27.29     0.00
2014     1           540           0           0             450           0           0.000      27.29     0.00
2015     1           515           0           0             430           0           0.000      27.29     0.00
2016     1           493           0           0             411           0           0.000      27.29     0.00
2017     1           472           0           0             394           0           0.000      27.29     0.00

SUB-TOTAL         10,344           0           0           8,627           0           0.000      27.29     0.00
REMAINDER            265           0           0             221           0           0.000      27.29     0.00
TOTAL             10,609           0           0           8,848           0           0.000      27.29     0.00

CUMULATIVE        38,684           0           0
ULTIMATE          49,293           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           29,351           0             0            0        29,351         179           0        29,172
2004           20,769           0             0            0        20,769         127           0        20,642
2005           18,410           0             0            0        18,410         112           0        18,298
2006           17,600           0             0            0        17,600         107           0        17,493
2007           16,825           0             0            0        16,825         103           0        16,722
2008           16,085           0             0            0        16,085          98           0        15,987
2009           15,377           0             0            0        15,377          94           0        15,283
2010           14,700           0             0            0        14,700          90           0        14,610
2011           14,054           0             0            0        14,054          85           0        13,969
2012           13,435           0             0            0        13,435          82           0        13,353
2013           12,845           0             0            0        12,845          79           0        12,766
2014           12,279           0             0            0        12,279          75           0        12,204
2015           11,738           0             0            0        11,738          71           0        11,667
2016           11,223           0             0            0        11,223          69           0        11,154
2017           10,728           0             0            0        10,728          65           0        10,663

SUB-TOT       235,419           0             0            0       235,419       1,436           0       233,983
REMAIN          6,039           0             0            0         6,039          37           0         6,002
TOTAL         241,458           0             0            0       241,458       1,473           0       239,985	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         10,152           0           0           0        10,152         19,020        19,020        18,186
2004         10,152           0           0           0        10,152         10,490        29,510         9,080
2005         10,152           0           0           0        10,152          8,146        37,656         6,359
2006         10,152           0           0           0        10,152          7,341        44,997         5,187
2007         10,152           0           0           0        10,152          6,570        51,567         4,203
2008         10,152           0           0           0        10,152          5,835        57,402         3,379
2009         10,152           0           0           0        10,152          5,131        62,533         2,690
2010         10,152           0           0           0        10,152          4,458        66,991         2,116
2011         10,152           0           0           0        10,152          3,817        70,808         1,640
2012         10,152           0           0           0        10,152          3,201        74,009         1,245
2013         10,152           0           0           0        10,152          2,614        76,623           921
2014         10,152           0           0           0        10,152          2,052        78,675           654
2015         10,152           0           0           0        10,152          1,515        80,190           438
2016         10,152           0           0           0        10,152          1,002        81,192           262
2017         10,152           0           0           0        10,152            511        81,703           122

SUBTOT      152,280           0           0           0       152,280         81,703                      56,482
REMAIN        5,922           0           0           0         5,922             80        81,783            18
TOTAL       158,202           0           0           0       158,202         81,783                      56,500

  LIFE OF EVALUATION IS 15.58 YEARS.
  FINAL PRODUCTION RATE: 37 BBLS/MO	

TENGASCO, INC. TABLE 28
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CONVERSE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 19-T20S-R15W PROVED
IANNITTI LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       197,877
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       161,314
REMARKS -                                                                                 15.00% -       135,122
                                                                                          20.00% -       115,741
                                                                                          25.00% -       100,976	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     6         2,668           0           0           2,334           0           0.000      27.29     0.00
2004     6         2,517           0           0           2,203           0           0.000      27.29     0.00
2005     6         2,378           0           0           2,081           0           0.000      27.29     0.00
2006     6         2,251           0           0           1,969           0           0.000      27.29     0.00
2007     6         2,134           0           0           1,867           0           0.000      27.29     0.00
2008     6         2,025           0           0           1,772           0           0.000      27.29     0.00
2009     6         1,924           0           0           1,684           0           0.000      27.29     0.00
2010     6         1,832           0           0           1,603           0           0.000      27.29     0.00
2011     6         1,745           0           0           1,526           0           0.000      27.29     0.00
2012     6         1,664           0           0           1,457           0           0.000      27.29     0.00
2013     6         1,589           0           0           1,390           0           0.000      27.29     0.00
2014     6         1,519           0           0           1,330           0           0.000      27.29     0.00
2015     6         1,454           0           0           1,272           0           0.000      27.29     0.00
2016     6         1,392           0           0           1,218           0           0.000      27.29     0.00
2017     6         1,335           0           0           1,167           0           0.000      27.29     0.00

SUB-TOTAL         28,427           0           0          24,873           0           0.000      27.29     0.00
REMAINDER          2,710           0           0           2,372           0           0.000      27.29     0.00
TOTAL             31,137           0           0          27,245           0           0.000      27.29     0.00

CUMULATIVE       118,773           0           0
ULTIMATE         149,910           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           63,707           0             0            0        63,707         389           0        63,318
2004           60,101           0             0            0        60,101         366           0        59,735
2005           56,793           0             0            0        56,793         347           0        56,446
2006           53,750           0             0            0        53,750         328           0        53,422
2007           50,945           0             0            0        50,945         310           0        50,635
2008           48,354           0             0            0        48,354         295           0        48,059
2009           45,957           0             0            0        45,957         281           0        45,676
2010           43,733           0             0            0        43,733         266           0        43,467
2011           41,667           0             0            0        41,667         255           0        41,412
2012           39,743           0             0            0        39,743         242           0        39,501
2013           37,950           0             0            0        37,950         231           0        37,719
2014           36,276           0             0            0        36,276         222           0        36,054
2015           34,710           0             0            0        34,710         211           0        34,499
2016           33,243           0             0            0        33,243         203           0        33,040
2017           31,868           0             0            0        31,868         195           0        31,673

SUB-TOT       678,797           0             0            0       678,797       4,141           0       674,656
REMAIN         64,716           0             0            0        64,716         394           0        64,322
TOTAL         743,513           0             0            0       743,513       4,535           0       738,978	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         28,440           0           0           0        28,440         34,878        34,878        33,227
2004         28,440           0           0           0        28,440         31,295        66,173        26,988
2005         28,440           0           0           0        28,440         28,006        94,179        21,863
2006         28,440           0           0           0        28,440         24,982       119,161        17,654
2007         28,440           0           0           0        28,440         22,195       141,356        14,199
2008         28,440           0           0           0        28,440         19,619       160,975        11,361
2009         28,440           0           0           0        28,440         17,236       178,211         9,036
2010         28,440           0           0           0        28,440         15,027       193,238         7,131
2011         28,440           0           0           0        28,440         12,972       206,210         5,574
2012         28,440           0           0           0        28,440         11,061       217,271         4,302
2013         28,440           0           0           0        28,440          9,279       226,550         3,268
2014         28,440           0           0           0        28,440          7,614       234,164         2,427
2015         28,440           0           0           0        28,440          6,059       240,223         1,749
2016         28,440           0           0           0        28,440          4,600       244,823         1,203
2017         28,440           0           0           0        28,440          3,233       248,056           766

SUBTOT      426,600           0           0           0       426,600        248,056                     160,748
REMAIN       61,620           0           0           0        61,620          2,702       250,758           566
TOTAL       488,220           0           0           0       488,220        250,758                     161,314

  LIFE OF EVALUATION IS 17.17 YEARS.
  FINAL PRODUCTION RATE: 100 BBLS/MO	

TENGASCO, INC. TABLE 29
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CONVERSE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 19-T20S-R15W PROVED
IANNITTI #9 PUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       257,798
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       177,869
REMARKS -                                                                                 15.00% -       127,390
                                                                                          20.00% -        93,759
                                                                                          25.00% -        70,361	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         3,116           0           0           2,727           0           0.000      27.29     0.00
2005     1         2,615           0           0           2,288           0           0.000      27.29     0.00
2006     1         1,978           0           0           1,730           0           0.000      27.29     0.00
2007     1         1,810           0           0           1,585           0           0.000      27.29     0.00
2008     1         1,657           0           0           1,449           0           0.000      27.29     0.00
2009     1         1,517           0           0           1,327           0           0.000      27.29     0.00
2010     1         1,388           0           0           1,215           0           0.000      27.29     0.00
2011     1         1,270           0           0           1,111           0           0.000      27.29     0.00
2012     1         1,163           0           0           1,018           0           0.000      27.29     0.00
2013     1         1,064           0           0             931           0           0.000      27.29     0.00
2014     1           974           0           0             852           0           0.000      27.29     0.00
2015     1           892           0           0             780           0           0.000      27.29     0.00
2016     1           816           0           0             714           0           0.000      27.29     0.00
2017     1           746           0           0             654           0           0.000      27.29     0.00

SUB-TOTAL         21,006           0           0          18,381           0           0.000      27.29     0.00
REMAINDER          3,987           0           0           3,488           0           0.000      27.29     0.00
TOTAL             24,993           0           0          21,869           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          24,993           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           74,411           0             0            0        74,411         454           0        73,957
2005           62,438           0             0            0        62,438         381           0        62,057
2006           47,234           0             0            0        47,234         288           0        46,946
2007           43,230           0             0            0        43,230         264           0        42,966
2008           39,566           0             0            0        39,566         241           0        39,325
2009           36,214           0             0            0        36,214         221           0        35,993
2010           33,144           0             0            0        33,144         202           0        32,942
2011           30,335           0             0            0        30,335         185           0        30,150
2012           27,764           0             0            0        27,764         169           0        27,595
2013           25,411           0             0            0        25,411         155           0        25,256
2014           23,258           0             0            0        23,258         142           0        23,116
2015           21,287           0             0            0        21,287         130           0        21,157
2016           19,482           0             0            0        19,482         119           0        19,363
2017           17,832           0             0            0        17,832         109           0        17,723

SUB-TOT       501,606           0             0            0       501,606       3,060           0       498,546
REMAIN         95,196           0             0            0        95,196         580           0        94,616
TOTAL         596,802           0             0            0       596,802       3,640           0       593,162	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          2,370           0     100,000           0       102,370        -28,413       -28,413       -25,451
2005          4,740           0           0           0         4,740         57,317        28,904        45,019
2006          4,740           0           0           0         4,740         42,206        71,110        29,822
2007          4,740           0           0           0         4,740         38,226       109,336        24,449
2008          4,740           0           0           0         4,740         34,585       143,921        20,025
2009          4,740           0           0           0         4,740         31,253       175,174        16,379
2010          4,740           0           0           0         4,740         28,202       203,376        13,380
2011          4,740           0           0           0         4,740         25,410       228,786        10,913
2012          4,740           0           0           0         4,740         22,855       251,641         8,886
2013          4,740           0           0           0         4,740         20,516       272,157         7,220
2014          4,740           0           0           0         4,740         18,376       290,533         5,854
2015          4,740           0           0           0         4,740         16,417       306,950         4,734
2016          4,740           0           0           0         4,740         14,623       321,573         3,817
2017          4,740           0           0           0         4,740         12,983       334,556         3,069

SUBTOT       63,990           0     100,000           0       163,990        334,556                     168,116
REMAIN       36,499           0           0           0        36,499         58,117       392,673         9,753
TOTAL       100,489           0     100,000           0       200,489        392,673                     177,869

  LIFE OF EVALUATION IS 22.70 YEARS.
  FINAL PRODUCTION RATE: 30 BBLS/MO	

TENGASCO, INC. TABLE 30
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
COOPER FIELD, GRAHAM COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 4-T10S-R21W PROVED
DEYOUNG LEASE (ABCK-TOPK) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        12,609
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        11,893
REMARKS -                                                                                 15.00% -        11,239
                                                                                          20.00% -        10,643
                                                                                          25.00% -        10,097	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,720           0           0           1,505           0           0.000      27.29     0.00
2004     2         1,633           0           0           1,429           0           0.000      27.29     0.00
2005     2         1,552           0           0           1,358           0           0.000      27.29     0.00
2006     2         1,113           0           0             973           0           0.000      27.29     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          6,018           0           0           5,265           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              6,018           0           0           5,265           0           0.000      27.29     0.00

CUMULATIVE        60,888           0           0
ULTIMATE          66,906           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           41,060           0             0            0        41,060         250           0        40,810
2004           39,007           0             0            0        39,007         238           0        38,769
2005           37,057           0             0            0        37,057         226           0        36,831
2006           26,571           0             0            0        26,571         163           0        26,408
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       143,695           0             0            0       143,695         877           0       142,818
REMAIN              0           0             0            0             0           0           0             0
TOTAL         143,695           0             0            0       143,695         877           0       142,818	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         34,512           0           0           0        34,512          6,298         6,298         6,011
2004         34,512           0           0           0        34,512          4,257        10,555         3,682
2005         34,512           0           0           0        34,512          2,319        12,874         1,821
2006         25,884           0           0           0        25,884            524        13,398           379
2007              0           0           0           0             0              0        13,398             0
2008              0           0           0           0             0              0        13,398             0
2009              0           0           0           0             0              0        13,398             0
2010              0           0           0           0             0              0        13,398             0
2011              0           0           0           0             0              0        13,398             0
2012              0           0           0           0             0              0        13,398             0
2013              0           0           0           0             0              0        13,398             0
2014              0           0           0           0             0              0        13,398             0
2015              0           0           0           0             0              0        13,398             0
2016              0           0           0           0             0              0        13,398             0
2017              0           0           0           0             0              0        13,398             0

SUBTOT      129,420           0           0           0       129,420         13,398                      11,893
REMAIN            0           0           0           0             0              0        13,398             0
TOTAL       129,420           0           0           0       129,420         13,398                      11,893

  LIFE OF EVALUATION IS 3.75 YEARS.
  FINAL PRODUCTION RATE: 122 BBLS/MO	

TENGASCO, INC. TABLE 31
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
COOPER FIELD, GRAHAM COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T10S-R21W PROVED
LEWIS LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       174,026
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       133,562
REMARKS -                                                                                 15.00% -       107,355
                                                                                          20.00% -        89,360
                                                                                          25.00% -        76,387	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,390           0           0           1,216           0           0.000      27.29     0.00
2004     2         1,316           0           0           1,152           0           0.000      27.29     0.00
2005     2         1,246           0           0           1,090           0           0.000      27.29     0.00
2006     2         1,181           0           0           1,033           0           0.000      27.29     0.00
2007     2         1,117           0           0             978           0           0.000      27.29     0.00
2008     2         1,059           0           0             926           0           0.000      27.29     0.00
2009     2         1,002           0           0             878           0           0.000      27.29     0.00
2010     2           950           0           0             830           0           0.000      27.29     0.00
2011     2           899           0           0             787           0           0.000      27.29     0.00
2012     2           851           0           0             745           0           0.000      27.29     0.00
2013     2           806           0           0             705           0           0.000      27.29     0.00
2014     2           764           0           0             668           0           0.000      27.29     0.00
2015     2           723           0           0             633           0           0.000      27.29     0.00
2016     2           685           0           0             599           0           0.000      27.29     0.00
2017     2           648           0           0             567           0           0.000      27.29     0.00

SUB-TOTAL         14,637           0           0          12,807           0           0.000      27.29     0.00
REMAINDER          4,711           0           0           4,122           0           0.000      27.29     0.00
TOTAL             19,348           0           0          16,929           0           0.000      27.29     0.00

CUMULATIVE        82,485           0           0
ULTIMATE         101,833           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           33,187           0             0            0        33,187         202           0        32,985
2004           31,428           0             0            0        31,428         192           0        31,236
2005           29,763           0             0            0        29,763         182           0        29,581
2006           28,185           0             0            0        28,185         172           0        28,013
2007           26,691           0             0            0        26,691         162           0        26,529
2008           25,276           0             0            0        25,276         155           0        25,121
2009           23,937           0             0            0        23,937         146           0        23,791
2010           22,669           0             0            0        22,669         138           0        22,531
2011           21,466           0             0            0        21,466         131           0        21,335
2012           20,330           0             0            0        20,330         124           0        20,206
2013           19,251           0             0            0        19,251         117           0        19,134
2014           18,232           0             0            0        18,232         112           0        18,120
2015           17,265           0             0            0        17,265         105           0        17,160
2016           16,350           0             0            0        16,350         100           0        16,250
2017           15,483           0             0            0        15,483          94           0        15,389

SUB-TOT       349,513           0             0            0       349,513       2,132           0       347,381
REMAIN        112,487           0             0            0       112,487         686           0       111,801
TOTAL         462,000           0             0            0       462,000       2,818           0       459,182	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          8,880           0           0           0         8,880         24,105        24,105        22,958
2004          8,880           0           0           0         8,880         22,356        46,461        19,274
2005          8,880           0           0           0         8,880         20,701        67,162        16,155
2006          8,880           0           0           0         8,880         19,133        86,295        13,517
2007          8,880           0           0           0         8,880         17,649       103,944        11,287
2008          8,880           0           0           0         8,880         16,241       120,185         9,402
2009          8,880           0           0           0         8,880         14,911       135,096         7,814
2010          8,880           0           0           0         8,880         13,651       148,747         6,476
2011          8,880           0           0           0         8,880         12,455       161,202         5,348
2012          8,880           0           0           0         8,880         11,326       172,528         4,403
2013          8,880           0           0           0         8,880         10,254       182,782         3,608
2014          8,880           0           0           0         8,880          9,240       192,022         2,944
2015          8,880           0           0           0         8,880          8,280       200,302         2,388
2016          8,880           0           0           0         8,880          7,370       207,672         1,924
2017          8,880           0           0           0         8,880          6,509       214,181         1,538

SUBTOT      133,200           0           0           0       133,200        214,181                     129,036
REMAIN       85,100           0           0           0        85,100         26,701       240,882         4,526
TOTAL       218,300           0           0           0       218,300        240,882                     133,562

  LIFE OF EVALUATION IS 24.58 YEARS.
  FINAL PRODUCTION RATE: 31 BBLS/MO	

TENGASCO, INC. TABLE 32
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DAVIDSON FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T15S-R11W PROVED
FOSTER LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.847656                         27.29                               5.00% -       103,114
FINAL   -   1.000000  0.847656                         27.29                              10.00% -        92,137
REMARKS -                                                                                 15.00% -        82,969
                                                                                          20.00% -        75,248
                                                                                          25.00% -        68,692	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4         2,577           0           0           2,184           0           0.000      27.29     0.00
2004     4         2,344           0           0           1,988           0           0.000      27.29     0.00
2005     4         2,134           0           0           1,808           0           0.000      27.29     0.00
2006     4         1,942           0           0           1,646           0           0.000      27.29     0.00
2007     4         1,767           0           0           1,498           0           0.000      27.29     0.00
2008     4         1,607           0           0           1,363           0           0.000      27.29     0.00
2009     4         1,464           0           0           1,240           0           0.000      27.29     0.00
2010     4         1,331           0           0           1,129           0           0.000      27.29     0.00
2011     4           105           0           0              89           0           0.000      27.29     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         15,271           0           0          12,945           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             15,271           0           0          12,945           0           0.000      27.29     0.00

CUMULATIVE       153,269           0           0
ULTIMATE         168,540           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           59,603           0             0            0        59,603         364           0        59,239
2004           54,239           0             0            0        54,239         330           0        53,909
2005           49,357           0             0            0        49,357         302           0        49,055
2006           44,915           0             0            0        44,915         273           0        44,642
2007           40,873           0             0            0        40,873         250           0        40,623
2008           37,194           0             0            0        37,194         227           0        36,967
2009           33,847           0             0            0        33,847         206           0        33,641
2010           30,801           0             0            0        30,801         188           0        30,613
2011            2,438           0             0            0         2,438          15           0         2,423
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       353,267           0             0            0       353,267       2,155           0       351,112
REMAIN              0           0             0            0             0           0           0             0
TOTAL         353,267           0             0            0       353,267       2,155           0       351,112	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         29,040           0           0           0        29,040         30,199        30,199        28,788
2004         29,040           0           0           0        29,040         24,869        55,068        21,463
2005         29,040           0           0           0        29,040         20,015        75,083        15,640
2006         29,040           0           0           0        29,040         15,602        90,685        11,039
2007         29,040           0           0           0        29,040         11,583       102,268         7,423
2008         29,040           0           0           0        29,040          7,927       110,195         4,602
2009         29,040           0           0           0        29,040          4,601       114,796         2,424
2010         29,040           0           0           0        29,040          1,573       116,369           756
2011          2,420           0           0           0         2,420              3       116,372             2
2012              0           0           0           0             0              0       116,372             0
2013              0           0           0           0             0              0       116,372             0
2014              0           0           0           0             0              0       116,372             0
2015              0           0           0           0             0              0       116,372             0
2016              0           0           0           0             0              0       116,372             0
2017              0           0           0           0             0              0       116,372             0

SUBTOT      234,740           0           0           0       234,740        116,372                      92,137
REMAIN            0           0           0           0             0              0       116,372             0
TOTAL       234,740           0           0           0       234,740        116,372                      92,137

  LIFE OF EVALUATION IS 8.08 YEARS.
  FINAL PRODUCTION RATE: 105 BBLS/MO	

TENGASCO, INC. TABLE 33
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DISTRICT 57 FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T12S-R20W PROVED
FLAX #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        95,846
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        68,187
REMARKS -                                                                                 15.00% -        52,301
                                                                                          20.00% -        42,243
                                                                                          25.00% -        35,380	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           722           0           0             632           0           0.000      27.29     0.00
2004     1           703           0           0             615           0           0.000      27.29     0.00
2005     1           683           0           0             598           0           0.000      27.29     0.00
2006     1           665           0           0             582           0           0.000      27.29     0.00
2007     1           648           0           0             566           0           0.000      27.29     0.00
2008     1           629           0           0             551           0           0.000      27.29     0.00
2009     1           613           0           0             536           0           0.000      27.29     0.00
2010     1           596           0           0             522           0           0.000      27.29     0.00
2011     1           580           0           0             507           0           0.000      27.29     0.00
2012     1           565           0           0             494           0           0.000      27.29     0.00
2013     1           549           0           0             481           0           0.000      27.29     0.00
2014     1           534           0           0             467           0           0.000      27.29     0.00
2015     1           520           0           0             455           0           0.000      27.29     0.00
2016     1           506           0           0             443           0           0.000      27.29     0.00
2017     1           492           0           0             431           0           0.000      27.29     0.00

SUB-TOTAL          9,005           0           0           7,880           0           0.000      27.29     0.00
REMAINDER          7,145           0           0           6,251           0           0.000      27.29     0.00
TOTAL             16,150           0           0          14,131           0           0.000      27.29     0.00

CUMULATIVE        46,663           0           0
ULTIMATE          62,813           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           17,242           0             0            0        17,242         105           0        17,137
2004           16,777           0             0            0        16,777         103           0        16,674
2005           16,324           0             0            0        16,324          99           0        16,225
2006           15,882           0             0            0        15,882          97           0        15,785
2007           15,455           0             0            0        15,455          94           0        15,361
2008           15,036           0             0            0        15,036          92           0        14,944
2009           14,631           0             0            0        14,631          89           0        14,542
2010           14,236           0             0            0        14,236          87           0        14,149
2011           13,852           0             0            0        13,852          85           0        13,767
2012           13,477           0             0            0        13,477          82           0        13,395
2013           13,114           0             0            0        13,114          80           0        13,034
2014           12,759           0             0            0        12,759          78           0        12,681
2015           12,415           0             0            0        12,415          75           0        12,340
2016           12,080           0             0            0        12,080          74           0        12,006
2017           11,754           0             0            0        11,754          72           0        11,682

SUB-TOT       215,034           0             0            0       215,034       1,312           0       213,722
REMAIN        170,609           0             0            0       170,609       1,040           0       169,569
TOTAL         385,643           0             0            0       385,643       2,352           0       383,291	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,888           0           0           0         6,888         10,249        10,249         9,759
2004          6,888           0           0           0         6,888          9,786        20,035         8,435
2005          6,888           0           0           0         6,888          9,337        29,372         7,285
2006          6,888           0           0           0         6,888          8,897        38,269         6,284
2007          6,888           0           0           0         6,888          8,473        46,742         5,417
2008          6,888           0           0           0         6,888          8,056        54,798         4,662
2009          6,888           0           0           0         6,888          7,654        62,452         4,010
2010          6,888           0           0           0         6,888          7,261        69,713         3,443
2011          6,888           0           0           0         6,888          6,879        76,592         2,953
2012          6,888           0           0           0         6,888          6,507        83,099         2,529
2013          6,888           0           0           0         6,888          6,146        89,245         2,162
2014          6,888           0           0           0         6,888          5,793        95,038         1,845
2015          6,888           0           0           0         6,888          5,452       100,490         1,571
2016          6,888           0           0           0         6,888          5,118       105,608         1,336
2017          6,888           0           0           0         6,888          4,794       110,402         1,132

SUBTOT      103,320           0           0           0       103,320        110,402                      62,823
REMAIN      129,724           0           0           0       129,724         39,845       150,247         5,364
TOTAL       233,044           0           0           0       233,044        150,247                      68,187

  LIFE OF EVALUATION IS 33.83 YEARS.
  FINAL PRODUCTION RATE: 24 BBLS/MO	

TENGASCO, INC. TABLE 34
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 14-T22S-R15W PROVED
BARSTOW #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937500                                                                       5.00% -             0
FINAL   -   0.937500                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        75,289           0           0
ULTIMATE          75,289           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 35
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T22S-R15W PROVED
LOVETT #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937000                                                                       5.00% -             0
FINAL   -   0.937000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE       107,986           0           0
ULTIMATE         107,986           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 36
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ELLIS NW FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 23-T12S-R21W PROVED
BAUGHER #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.765630                         27.29                               5.00% -        28,382
FINAL   -   1.000000  0.765630                         27.29                              10.00% -        25,211
REMARKS -                                                                                 15.00% -        22,584
                                                                                          20.00% -        20,387
                                                                                          25.00% -        18,534	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           989           0           0             757           0           0.000      27.29     0.00
2004     1           930           0           0             712           0           0.000      27.29     0.00
2005     1           875           0           0             670           0           0.000      27.29     0.00
2006     1           822           0           0             629           0           0.000      27.29     0.00
2007     1           773           0           0             592           0           0.000      27.29     0.00
2008     1           727           0           0             557           0           0.000      27.29     0.00
2009     1           683           0           0             523           0           0.000      27.29     0.00
2010     1           643           0           0             492           0           0.000      27.29     0.00
2011     1           205           0           0             157           0           0.000      27.29     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          6,647           0           0           5,089           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              6,647           0           0           5,089           0           0.000      27.29     0.00

CUMULATIVE        76,718           0           0
ULTIMATE          83,365           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           20,668           0             0            0        20,668         126           0        20,542
2004           19,433           0             0            0        19,433         119           0        19,314
2005           18,272           0             0            0        18,272         111           0        18,161
2006           17,179           0             0            0        17,179         105           0        17,074
2007           16,152           0             0            0        16,152          98           0        16,054
2008           15,187           0             0            0        15,187          93           0        15,094
2009           14,279           0             0            0        14,279          87           0        14,192
2010           13,425           0             0            0        13,425          82           0        13,343
2011            4,295           0             0            0         4,295          26           0         4,269
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       138,890           0             0            0       138,890         847           0       138,043
REMAIN              0           0             0            0             0           0           0             0
TOTAL         138,890           0             0            0       138,890         847           0       138,043	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         12,696           0           0           0        12,696          7,846         7,846         7,478
2004         12,696           0           0           0        12,696          6,618        14,464         5,710
2005         12,696           0           0           0        12,696          5,465        19,929         4,270
2006         12,696           0           0           0        12,696          4,378        24,307         3,097
2007         12,696           0           0           0        12,696          3,358        27,665         2,151
2008         12,696           0           0           0        12,696          2,398        30,063         1,392
2009         12,696           0           0           0        12,696          1,496        31,559           787
2010         12,696           0           0           0        12,696            647        32,206           310
2011          4,232           0           0           0         4,232             37        32,243            16
2012              0           0           0           0             0              0        32,243             0
2013              0           0           0           0             0              0        32,243             0
2014              0           0           0           0             0              0        32,243             0
2015              0           0           0           0             0              0        32,243             0
2016              0           0           0           0             0              0        32,243             0
2017              0           0           0           0             0              0        32,243             0

SUBTOT      105,800           0           0           0       105,800         32,243                      25,211
REMAIN            0           0           0           0             0              0        32,243             0
TOTAL       105,800           0           0           0       105,800         32,243                      25,211

  LIFE OF EVALUATION IS 8.33 YEARS.
  FINAL PRODUCTION RATE: 51 BBLS/MO	

TENGASCO, INC. TABLE 37
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
FICKEN FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R18W PROVED
SCHWINDT FARMS #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        19,824           0           0
ULTIMATE          19,824           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 38
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GATES NORTH FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T21S-R13W PROVED
HOFFMAN #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.687500                                                                       5.00% -             0
FINAL   -   0.687500                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        56,111           0           0
ULTIMATE          56,111           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 39
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GATES NORTH FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T21S-R13W PROVED
SCHULZ LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.687500  0.554449                         27.29                               5.00% -        58,437
FINAL   -   0.687500  0.554449                         27.29                              10.00% -        50,048
REMARKS -                                                                                 15.00% -        43,485
                                                                                          20.00% -        38,268
                                                                                          25.00% -        34,061	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         2,375           0           0           1,317           0           0.000      27.29     0.00
2004     2         2,280           0           0           1,264           0           0.000      27.29     0.00
2005     2         2,189           0           0           1,214           0           0.000      27.29     0.00
2006     2         2,102           0           0           1,165           0           0.000      27.29     0.00
2007     2         2,017           0           0           1,118           0           0.000      27.29     0.00
2008     2         1,937           0           0           1,074           0           0.000      27.29     0.00
2009     2         1,859           0           0           1,031           0           0.000      27.29     0.00
2010     2         1,785           0           0             990           0           0.000      27.29     0.00
2011     2         1,713           0           0             950           0           0.000      27.29     0.00
2012     2         1,645           0           0             912           0           0.000      27.29     0.00
2013     2         1,579           0           0             875           0           0.000      27.29     0.00
2014     2           385           0           0             214           0           0.000      27.29     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         21,866           0           0          12,124           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             21,866           0           0          12,124           0           0.000      27.29     0.00

CUMULATIVE       266,028           0           0
ULTIMATE         287,894           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           35,939           0             0            0        35,939         219           0        35,720
2004           34,501           0             0            0        34,501         211           0        34,290
2005           33,121           0             0            0        33,121         202           0        32,919
2006           31,797           0             0            0        31,797         194           0        31,603
2007           30,524           0             0            0        30,524         186           0        30,338
2008           29,304           0             0            0        29,304         179           0        29,125
2009           28,131           0             0            0        28,131         171           0        27,960
2010           27,006           0             0            0        27,006         165           0        26,841
2011           25,926           0             0            0        25,926         158           0        25,768
2012           24,889           0             0            0        24,889         152           0        24,737
2013           23,893           0             0            0        23,893         146           0        23,747
2014            5,823           0             0            0         5,823          35           0         5,788
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       330,854           0             0            0       330,854       2,018           0       328,836
REMAIN              0           0             0            0             0           0           0             0
TOTAL         330,854           0             0            0       330,854       2,018           0       328,836	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         23,067           0           0           0        23,067         12,653        12,653        12,055
2004         23,067           0           0           0        23,067         11,223        23,876         9,679
2005         23,067           0           0           0        23,067          9,852        33,728         7,693
2006         23,067           0           0           0        23,067          8,536        42,264         6,034
2007         23,067           0           0           0        23,067          7,271        49,535         4,653
2008         23,067           0           0           0        23,067          6,058        55,593         3,510
2009         23,067           0           0           0        23,067          4,893        60,486         2,568
2010         23,067           0           0           0        23,067          3,774        64,260         1,793
2011         23,067           0           0           0        23,067          2,701        66,961         1,163
2012         23,067           0           0           0        23,067          1,670        68,631           651
2013         23,067           0           0           0        23,067            680        69,311           242
2014          5,767           0           0           0         5,767             21        69,332             7
2015              0           0           0           0             0              0        69,332             0
2016              0           0           0           0             0              0        69,332             0
2017              0           0           0           0             0              0        69,332             0

SUBTOT      259,504           0           0           0       259,504         69,332                      50,048
REMAIN            0           0           0           0             0              0        69,332             0
TOTAL       259,504           0           0           0       259,504         69,332                      50,048

  LIFE OF EVALUATION IS 11.25 YEARS.
  FINAL PRODUCTION RATE: 128 BBLS/MO	

TENGASCO, INC. TABLE 40
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GIESICK FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R17W PROVED
GIESICK #2 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       180,569
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       117,745
REMARKS -                                                                                 15.00% -        86,409
                                                                                          20.00% -        68,132
                                                                                          25.00% -        56,245	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           5               0           0           4.153       0.00     4.13
2004     1             0           0           5               0           0           4.028       0.00     4.13
2005     1             0           0           5               0           0           3.907       0.00     4.13
2006     1             0           0           5               0           0           3.790       0.00     4.13
2007     1             0           0           4               0           0           3.676       0.00     4.13
2008     1             0           0           5               0           0           3.566       0.00     4.13
2009     1             0           0           4               0           0           3.459       0.00     4.13
2010     1             0           0           4               0           0           3.355       0.00     4.13
2011     1             0           0           4               0           0           3.255       0.00     4.13
2012     1             0           0           4               0           0           3.157       0.00     4.13
2013     1             0           0           4               0           0           3.062       0.00     4.13
2014     1             0           0           4               0           0           2.970       0.00     4.13
2015     1             0           0           3               0           0           2.881       0.00     4.13
2016     1             0           0           4               0           0           2.795       0.00     4.13
2017     1             0           0           3               0           0           2.711       0.00     4.13

SUB-TOTAL              0           0          63               0           0          50.765       0.00     4.13
REMAINDER              0           0          55               0           0          44.150       0.00     4.13
TOTAL                  0           0         118               0           0          94.915       0.00     4.13

CUMULATIVE             0           0         438    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         556        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        17,150            0        17,150           0         305        16,845
2004                0           0        16,636            0        16,636           0         296        16,340
2005                0           0        16,136            0        16,136           0         288        15,848
2006                0           0        15,652            0        15,652           0         278        15,374
2007                0           0        15,183            0        15,183           0         270        14,913
2008                0           0        14,727            0        14,727           0         263        14,464
2009                0           0        14,286            0        14,286           0         254        14,032
2010                0           0        13,857            0        13,857           0         247        13,610
2011                0           0        13,441            0        13,441           0         239        13,202
2012                0           0        13,038            0        13,038           0         232        12,806
2013                0           0        12,647            0        12,647           0         225        12,422
2014                0           0        12,267            0        12,267           0         218        12,049
2015                0           0        11,900            0        11,900           0         212        11,688
2016                0           0        11,542            0        11,542           0         206        11,336
2017                0           0        11,196            0        11,196           0         199        10,997

SUB-TOT             0           0       209,658            0       209,658           0       3,732       205,926
REMAIN              0           0       182,342            0       182,342           0       3,246       179,096
TOTAL               0           0       392,000            0       392,000           0       6,978       385,022	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,313           0           0           0         1,313         15,532        15,532        14,788
2004          1,313           0           0           0         1,313         15,027        30,559        12,950
2005          1,312           0           0           0         1,312         14,536        45,095        11,340
2006          1,310           0           0           0         1,310         14,064        59,159         9,932
2007          1,310           0           0           0         1,310         13,603        72,762         8,696
2008          1,310           0           0           0         1,310         13,154        85,916         7,612
2009          1,308           0           0           0         1,308         12,724        98,640         6,665
2010          1,308           0           0           0         1,308         12,302       110,942         5,833
2011          1,307           0           0           0         1,307         11,895       122,837         5,106
2012          1,306           0           0           0         1,306         11,500       134,337         4,468
2013          1,306           0           0           0         1,306         11,116       145,453         3,909
2014          1,305           0           0           0         1,305         10,744       156,197         3,421
2015          1,304           0           0           0         1,304         10,384       166,581         2,992
2016          1,304           0           0           0         1,304         10,032       176,613         2,618
2017          1,303           0           0           0         1,303          9,694       186,307         2,289

SUBTOT       19,619           0           0           0        19,619        186,307                     102,619
REMAIN       29,845           0           0           0        29,845        149,251       335,558        15,126
TOTAL        49,464           0           0           0        49,464        335,558                     117,745

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 41
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

GOTTSCHALK FIELD, ELLIS COUNTY, KANSAS                                                GAS LEASE
  TENGASCO, INC. - OPERATOR   36-T15S-R18W                                            PROVED
    WERTH #1   (OREAD & TOPEKA)                                                       PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         180
ULTIMATE               0           0         180	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 42
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HERMAN FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T16S-R14W PROVED
H. KARST LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.812500  0.702051                         27.29                               5.00% -         1,415
FINAL   -   0.812500  0.702051                         27.29                              10.00% -         1,370
REMARKS -                                                                                 15.00% -         1,329
                                                                                          20.00% -         1,289
                                                                                          25.00% -         1,251	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           999           0           0             702           0           0.000      27.29     0.00
2004     2           960           0           0             673           0           0.000      27.29     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          1,959           0           0           1,375           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              1,959           0           0           1,375           0           0.000      27.29     0.00

CUMULATIVE        32,570           0           0
ULTIMATE          34,529           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           19,149           0             0            0        19,149         117           0        19,032
2004           18,382           0             0            0        18,382         112           0        18,270
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        37,531           0             0            0        37,531         229           0        37,302
REMAIN              0           0             0            0             0           0           0             0
TOTAL          37,531           0             0            0        37,531         229           0        37,302	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         17,921           0           0           0        17,921          1,111         1,111         1,064
2004         17,920           0           0           0        17,920            350         1,461           306
2005              0           0           0           0             0              0         1,461             0
2006              0           0           0           0             0              0         1,461             0
2007              0           0           0           0             0              0         1,461             0
2008              0           0           0           0             0              0         1,461             0
2009              0           0           0           0             0              0         1,461             0
2010              0           0           0           0             0              0         1,461             0
2011              0           0           0           0             0              0         1,461             0
2012              0           0           0           0             0              0         1,461             0
2013              0           0           0           0             0              0         1,461             0
2014              0           0           0           0             0              0         1,461             0
2015              0           0           0           0             0              0         1,461             0
2016              0           0           0           0             0              0         1,461             0
2017              0           0           0           0             0              0         1,461             0

SUBTOT       35,841           0           0           0        35,841          1,461                       1,370
REMAIN            0           0           0           0             0              0         1,461             0
TOTAL        35,841           0           0           0        35,841          1,461                       1,370

  LIFE OF EVALUATION IS 2.00 YEARS.
  FINAL PRODUCTION RATE: 78 BBLS/MO	

TENGASCO, INC. TABLE 43
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HOBROCK FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 3-T10S-R15W PROVED
HOBROCK #4 (PENNSYLVANIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.593750  0.481947                         27.29                               5.00% -        26,456
FINAL   -   0.593750  0.481947                         27.29                              10.00% -        21,534
REMARKS -                                                                                 15.00% -        18,008
                                                                                          20.00% -        15,400
                                                                                          25.00% -        13,414	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           547           0           0             264           0           0.000      27.29     0.00
2004     1           514           0           0             247           0           0.000      27.29     0.00
2005     1           483           0           0             233           0           0.000      27.29     0.00
2006     1           454           0           0             219           0           0.000      27.29     0.00
2007     1           427           0           0             206           0           0.000      27.29     0.00
2008     1           402           0           0             193           0           0.000      27.29     0.00
2009     1           377           0           0             182           0           0.000      27.29     0.00
2010     1           355           0           0             171           0           0.000      27.29     0.00
2011     1           333           0           0             161           0           0.000      27.29     0.00
2012     1           314           0           0             151           0           0.000      27.29     0.00
2013     1           294           0           0             142           0           0.000      27.29     0.00
2014     1           277           0           0             133           0           0.000      27.29     0.00
2015     1           260           0           0             126           0           0.000      27.29     0.00
2016     1           245           0           0             118           0           0.000      27.29     0.00
2017     1           230           0           0             110           0           0.000      27.29     0.00

SUB-TOTAL          5,512           0           0           2,656           0           0.000      27.29     0.00
REMAINDER            403           0           0             195           0           0.000      27.29     0.00
TOTAL              5,915           0           0           2,851           0           0.000      27.29     0.00

CUMULATIVE        58,038           0           0
ULTIMATE          63,953           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            7,193           0             0            0         7,193          44           0         7,149
2004            6,762           0             0            0         6,762          41           0         6,721
2005            6,355           0             0            0         6,355          39           0         6,316
2006            5,975           0             0            0         5,975          36           0         5,939
2007            5,616           0             0            0         5,616          35           0         5,581
2008            5,279           0             0            0         5,279          32           0         5,247
2009            4,962           0             0            0         4,962          30           0         4,932
2010            4,665           0             0            0         4,665          29           0         4,636
2011            4,384           0             0            0         4,384          26           0         4,358
2012            4,122           0             0            0         4,122          25           0         4,097
2013            3,874           0             0            0         3,874          24           0         3,850
2014            3,642           0             0            0         3,642          22           0         3,620
2015            3,423           0             0            0         3,423          21           0         3,402
2016            3,218           0             0            0         3,218          20           0         3,198
2017            3,025           0             0            0         3,025          18           0         3,007

SUB-TOT        72,495           0             0            0        72,495         442           0        72,053
REMAIN          5,300           0             0            0         5,300          33           0         5,267
TOTAL          77,795           0             0            0        77,795         475           0        77,320	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,586           0           0           0         2,586          4,563         4,563         4,347
2004          2,587           0           0           0         2,587          4,134         8,697         3,564
2005          2,586           0           0           0         2,586          3,730        12,427         2,912
2006          2,587           0           0           0         2,587          3,352        15,779         2,369
2007          2,586           0           0           0         2,586          2,995        18,774         1,916
2008          2,586           0           0           0         2,586          2,661        21,435         1,541
2009          2,587           0           0           0         2,587          2,345        23,780         1,229
2010          2,586           0           0           0         2,586          2,050        25,830           973
2011          2,586           0           0           0         2,586          1,772        27,602           761
2012          2,587           0           0           0         2,587          1,510        29,112           587
2013          2,586           0           0           0         2,586          1,264        30,376           446
2014          2,587           0           0           0         2,587          1,033        31,409           329
2015          2,586           0           0           0         2,586            816        32,225           236
2016          2,586           0           0           0         2,586            612        32,837           160
2017          2,587           0           0           0         2,587            420        33,257            99

SUBTOT       38,796           0           0           0        38,796         33,257                      21,469
REMAIN        4,957           0           0           0         4,957            310        33,567            65
TOTAL        43,753           0           0           0        43,753         33,567                      21,534

  LIFE OF EVALUATION IS 16.92 YEARS.
  FINAL PRODUCTION RATE: 17 BBLS/MO	

TENGASCO, INC. TABLE 44
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HOBROCK FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T10S-R15W PROVED
HOGAN LEASE (PENNSYLVANIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.593750  0.480972                         27.29                               5.00% -        70,508
FINAL   -   0.593750  0.480972                         27.29                              10.00% -        63,903
REMARKS -                                                                                 15.00% -        58,235
                                                                                          20.00% -        53,345
                                                                                          25.00% -        49,104	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         2,786           0           0           1,340           0           0.000      27.29     0.00
2004     3         2,456           0           0           1,181           0           0.000      27.29     0.00
2005     3         2,168           0           0           1,043           0           0.000      27.29     0.00
2006     3         1,911           0           0             919           0           0.000      27.29     0.00
2007     3         1,686           0           0             811           0           0.000      27.29     0.00
2008     3           831           0           0             400           0           0.000      27.29     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         11,838           0           0           5,694           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             11,838           0           0           5,694           0           0.000      27.29     0.00

CUMULATIVE       196,208           0           0
ULTIMATE         208,046           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           36,562           0             0            0        36,562         223           0        36,339
2004           32,249           0             0            0        32,249         197           0        32,052
2005           28,445           0             0            0        28,445         173           0        28,272
2006           25,089           0             0            0        25,089         153           0        24,936
2007           22,130           0             0            0        22,130         135           0        21,995
2008           10,907           0             0            0        10,907          67           0        10,840
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       155,382           0             0            0       155,382         948           0       154,434
REMAIN              0           0             0            0             0           0           0             0
TOTAL         155,382           0             0            0       155,382         948           0       154,434	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         13,744           0           0           0        13,744         22,595        22,595        21,542
2004         13,744           0           0           0        13,744         18,308        40,903        15,803
2005         13,744           0           0           0        13,744         14,528        55,431        11,353
2006         13,745           0           0           0        13,745         11,191        66,622         7,919
2007         13,744           0           0           0        13,744          8,251        74,873         5,288
2008          7,466           0           0           0         7,466          3,374        78,247         1,998
2009              0           0           0           0             0              0        78,247             0
2010              0           0           0           0             0              0        78,247             0
2011              0           0           0           0             0              0        78,247             0
2012              0           0           0           0             0              0        78,247             0
2013              0           0           0           0             0              0        78,247             0
2014              0           0           0           0             0              0        78,247             0
2015              0           0           0           0             0              0        78,247             0
2016              0           0           0           0             0              0        78,247             0
2017              0           0           0           0             0              0        78,247             0

SUBTOT       76,187           0           0           0        76,187         78,247                      63,903
REMAIN            0           0           0           0             0              0        78,247             0
TOTAL        76,187           0           0           0        76,187         78,247                      63,903

  LIFE OF EVALUATION IS 5.54 YEARS.
  FINAL PRODUCTION RATE: 124 BBLS/MO	

TENGASCO, INC. TABLE 45
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
IRVIN FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T14S-R19W PROVED
KINDERKNECHT -B- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -            67
FINAL   -   1.000000  0.875000                         27.29                              10.00% -            66
REMARKS -                                                                                 15.00% -            66
                                                                                          20.00% -            66
                                                                                          25.00% -            65	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           501           0           0             438           0           0.000      27.29     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL            501           0           0             438           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                501           0           0             438           0           0.000      27.29     0.00

CUMULATIVE       137,056           0           0
ULTIMATE         137,557           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           11,964           0             0            0        11,964          73           0        11,891
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        11,964           0             0            0        11,964          73           0        11,891
REMAIN              0           0             0            0             0           0           0             0
TOTAL          11,964           0             0            0        11,964          73           0        11,891	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,824           0           0           0        11,824             67            67            66
2004              0           0           0           0             0              0            67             0
2005              0           0           0           0             0              0            67             0
2006              0           0           0           0             0              0            67             0
2007              0           0           0           0             0              0            67             0
2008              0           0           0           0             0              0            67             0
2009              0           0           0           0             0              0            67             0
2010              0           0           0           0             0              0            67             0
2011              0           0           0           0             0              0            67             0
2012              0           0           0           0             0              0            67             0
2013              0           0           0           0             0              0            67             0
2014              0           0           0           0             0              0            67             0
2015              0           0           0           0             0              0            67             0
2016              0           0           0           0             0              0            67             0
2017              0           0           0           0             0              0            67             0

SUBTOT       11,824           0           0           0        11,824             67                          66
REMAIN            0           0           0           0             0              0            67             0
TOTAL        11,824           0           0           0        11,824             67                          66

  LIFE OF EVALUATION IS 0.33 YEARS.
  FINAL PRODUCTION RATE: 125 BBLS/MO	

TENGASCO, INC. TABLE 46
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T14S-R19W PROVED
KRAUS -A- LEASE PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820310                         27.29                               5.00% -       851,515
FINAL   -   1.000000  0.820310                         27.29                              10.00% -       615,354
REMARKS -                                                                                 15.00% -       478,078
                                                                                          20.00% -       389,952
                                                                                          25.00% -       329,055	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         5,287           0           0           4,337           0           0.000      27.29     0.00
2004     3         5,023           0           0           4,120           0           0.000      27.29     0.00
2005     3         4,772           0           0           3,915           0           0.000      27.29     0.00
2006     3         4,533           0           0           3,718           0           0.000      27.29     0.00
2007     3         4,306           0           0           3,533           0           0.000      27.29     0.00
2008     3         4,092           0           0           3,356           0           0.000      27.29     0.00
2009     3         3,886           0           0           3,188           0           0.000      27.29     0.00
2010     3         3,693           0           0           3,029           0           0.000      27.29     0.00
2011     3         3,507           0           0           2,877           0           0.000      27.29     0.00
2012     3         3,332           0           0           2,734           0           0.000      27.29     0.00
2013     3         3,166           0           0           2,597           0           0.000      27.29     0.00
2014     3         3,008           0           0           2,467           0           0.000      27.29     0.00
2015     3         2,857           0           0           2,343           0           0.000      27.29     0.00
2016     3         2,714           0           0           2,227           0           0.000      27.29     0.00
2017     3         2,578           0           0           2,115           0           0.000      27.29     0.00

SUB-TOTAL         56,754           0           0          46,556           0           0.000      27.29     0.00
REMAINDER         32,729           0           0          26,848           0           0.000      27.29     0.00
TOTAL             89,483           0           0          73,404           0           0.000      27.29     0.00

CUMULATIVE       346,204           0           0
ULTIMATE         435,687           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          118,362           0             0            0       118,362         722           0       117,640
2004          112,443           0             0            0       112,443         686           0       111,757
2005          106,821           0             0            0       106,821         652           0       106,169
2006          101,481           0             0            0       101,481         619           0       100,862
2007           96,406           0             0            0        96,406         588           0        95,818
2008           91,586           0             0            0        91,586         558           0        91,028
2009           87,006           0             0            0        87,006         531           0        86,475
2010           82,657           0             0            0        82,657         504           0        82,153
2011           78,523           0             0            0        78,523         479           0        78,044
2012           74,597           0             0            0        74,597         455           0        74,142
2013           70,868           0             0            0        70,868         433           0        70,435
2014           67,324           0             0            0        67,324         410           0        66,914
2015           63,958           0             0            0        63,958         390           0        63,568
2016           60,760           0             0            0        60,760         371           0        60,389
2017           57,722           0             0            0        57,722         352           0        57,370

SUB-TOT     1,270,514           0             0            0     1,270,514       7,750           0     1,262,764
REMAIN        732,674           0             0            0       732,674       4,469           0       728,205
TOTAL       2,003,188           0             0            0     2,003,188      12,219           0     1,990,969	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         18,540           0           0           0        18,540         99,100        99,100        94,372
2004         18,540           0           0           0        18,540         93,217       192,317        80,356
2005         18,540           0           0           0        18,540         87,629       279,946        68,380
2006         18,540           0           0           0        18,540         82,322       362,268        58,149
2007         18,540           0           0           0        18,540         77,278       439,546        49,413
2008         18,540           0           0           0        18,540         72,488       512,034        41,957
2009         18,540           0           0           0        18,540         67,935       579,969        35,594
2010         18,540           0           0           0        18,540         63,613       643,582        30,171
2011         18,540           0           0           0        18,540         59,504       703,086        25,548
2012         18,540           0           0           0        18,540         55,602       758,688        21,609
2013         18,540           0           0           0        18,540         51,895       810,583        18,257
2014         18,540           0           0           0        18,540         48,374       858,957        15,406
2015         18,540           0           0           0        18,540         45,028       903,985        12,980
2016         18,540           0           0           0        18,540         41,849       945,834        10,921
2017         18,540           0           0           0        18,540         38,830       984,664         9,173

SUBTOT      278,100           0           0           0       278,100        984,664                     572,286
REMAIN      398,610           0           0           0       398,610        329,595     1,314,259        43,068
TOTAL       676,710           0           0           0       676,710      1,314,259                     615,354

  LIFE OF EVALUATION IS 36.50 YEARS.
  FINAL PRODUCTION RATE: 70 BBLS/MO	

TENGASCO, INC. TABLE 47
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T14S-R19W PROVED
KRAUS -B- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       109,508
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        88,098
REMARKS -                                                                                 15.00% -        73,176
                                                                                          20.00% -        62,351
                                                                                          25.00% -        54,220	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,203           0           0           1,053           0           0.000      27.29     0.00
2004     2         1,120           0           0             979           0           0.000      27.29     0.00
2005     2         1,044           0           0             914           0           0.000      27.29     0.00
2006     2           977           0           0             855           0           0.000      27.29     0.00
2007     2           916           0           0             801           0           0.000      27.29     0.00
2008     2           859           0           0             752           0           0.000      27.29     0.00
2009     2           809           0           0             708           0           0.000      27.29     0.00
2010     2           762           0           0             667           0           0.000      27.29     0.00
2011     2           720           0           0             630           0           0.000      27.29     0.00
2012     2           681           0           0             596           0           0.000      27.29     0.00
2013     2           645           0           0             564           0           0.000      27.29     0.00
2014     2           611           0           0             535           0           0.000      27.29     0.00
2015     2           581           0           0             508           0           0.000      27.29     0.00
2016     2           552           0           0             483           0           0.000      27.29     0.00
2017     2           526           0           0             461           0           0.000      27.29     0.00

SUB-TOTAL         12,006           0           0          10,506           0           0.000      27.29     0.00
REMAINDER          2,121           0           0           1,855           0           0.000      27.29     0.00
TOTAL             14,127           0           0          12,361           0           0.000      27.29     0.00

CUMULATIVE        98,630           0           0
ULTIMATE         112,757           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           28,730           0             0            0        28,730         175           0        28,555
2004           26,736           0             0            0        26,736         163           0        26,573
2005           24,943           0             0            0        24,943         152           0        24,791
2006           23,326           0             0            0        23,326         143           0        23,183
2007           21,859           0             0            0        21,859         133           0        21,726
2008           20,527           0             0            0        20,527         125           0        20,402
2009           19,314           0             0            0        19,314         118           0        19,196
2010           18,204           0             0            0        18,204         111           0        18,093
2011           17,189           0             0            0        17,189         105           0        17,084
2012           16,254           0             0            0        16,254          99           0        16,155
2013           15,395           0             0            0        15,395          94           0        15,301
2014           14,603           0             0            0        14,603          89           0        14,514
2015           13,868           0             0            0        13,868          85           0        13,783
2016           13,190           0             0            0        13,190          80           0        13,110
2017           12,559           0             0            0        12,559          77           0        12,482

SUB-TOT       286,697           0             0            0       286,697       1,749           0       284,948
REMAIN         50,636           0             0            0        50,636         309           0        50,327
TOTAL         337,333           0             0            0       337,333       2,058           0       335,275	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,888           0           0           0         9,888         18,667        18,667        17,784
2004          9,888           0           0           0         9,888         16,685        35,352        14,389
2005          9,888           0           0           0         9,888         14,903        50,255        11,634
2006          9,888           0           0           0         9,888         13,295        63,550         9,395
2007          9,888           0           0           0         9,888         11,838        75,388         7,573
2008          9,888           0           0           0         9,888         10,514        85,902         6,088
2009          9,888           0           0           0         9,888          9,308        95,210         4,880
2010          9,888           0           0           0         9,888          8,205       103,415         3,893
2011          9,888           0           0           0         9,888          7,196       110,611         3,091
2012          9,888           0           0           0         9,888          6,267       116,878         2,437
2013          9,888           0           0           0         9,888          5,413       122,291         1,906
2014          9,888           0           0           0         9,888          4,626       126,917         1,474
2015          9,888           0           0           0         9,888          3,895       130,812         1,124
2016          9,888           0           0           0         9,888          3,222       134,034           842
2017          9,888           0           0           0         9,888          2,594       136,628           614

SUBTOT      148,320           0           0           0       148,320        136,628                      87,124
REMAIN       45,320           0           0           0        45,320          5,007       141,635           974
TOTAL       193,640           0           0           0       193,640        141,635                      88,098

  LIFE OF EVALUATION IS 19.58 YEARS.
  FINAL PRODUCTION RATE: 35 BBLS/MO	

TENGASCO, INC. TABLE 48
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 27-T14S-R19W PROVED
KRAUS -I- LEASE (ABCK-KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -       128,733
FINAL   -   1.000000  0.820313                         27.29                              10.00% -       108,867
REMARKS -                                                                                 15.00% -        93,755
                                                                                          20.00% -        82,014
                                                                                          25.00% -        72,710	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         2,206           0           0           1,809           0           0.000      27.29     0.00
2004     2         2,045           0           0           1,678           0           0.000      27.29     0.00
2005     2         1,902           0           0           1,560           0           0.000      27.29     0.00
2006     2         1,773           0           0           1,455           0           0.000      27.29     0.00
2007     2         1,657           0           0           1,359           0           0.000      27.29     0.00
2008     2         1,552           0           0           1,273           0           0.000      27.29     0.00
2009     2         1,456           0           0           1,194           0           0.000      27.29     0.00
2010     2         1,369           0           0           1,124           0           0.000      27.29     0.00
2011     2         1,290           0           0           1,058           0           0.000      27.29     0.00
2012     2         1,218           0           0             999           0           0.000      27.29     0.00
2013     2         1,151           0           0             944           0           0.000      27.29     0.00
2014     2         1,089           0           0             894           0           0.000      27.29     0.00
2015     2         1,033           0           0             847           0           0.000      27.29     0.00
2016     2           497           0           0             407           0           0.000      27.29     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         20,238           0           0          16,601           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             20,238           0           0          16,601           0           0.000      27.29     0.00

CUMULATIVE       208,702           0           0
ULTIMATE         228,940           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           49,375           0             0            0        49,375         301           0        49,074
2004           45,787           0             0            0        45,787         279           0        45,508
2005           42,577           0             0            0        42,577         260           0        42,317
2006           39,692           0             0            0        39,692         242           0        39,450
2007           37,092           0             0            0        37,092         227           0        36,865
2008           34,738           0             0            0        34,738         211           0        34,527
2009           32,602           0             0            0        32,602         199           0        32,403
2010           30,657           0             0            0        30,657         187           0        30,470
2011           28,881           0             0            0        28,881         177           0        28,704
2012           27,255           0             0            0        27,255         166           0        27,089
2013           25,763           0             0            0        25,763         157           0        25,606
2014           24,389           0             0            0        24,389         149           0        24,240
2015           23,123           0             0            0        23,123         141           0        22,982
2016           11,117           0             0            0        11,117          68           0        11,049
2017                0           0             0            0             0           0           0             0

SUB-TOT       453,048           0             0            0       453,048       2,764           0       450,284
REMAIN              0           0             0            0             0           0           0             0
TOTAL         453,048           0             0            0       453,048       2,764           0       450,284	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         21,840           0           0           0        21,840         27,234        27,234        25,951
2004         21,840           0           0           0        21,840         23,668        50,902        20,417
2005         21,840           0           0           0        21,840         20,477        71,379        15,990
2006         21,840           0           0           0        21,840         17,610        88,989        12,448
2007         21,840           0           0           0        21,840         15,025       104,014         9,615
2008         21,840           0           0           0        21,840         12,687       116,701         7,350
2009         21,840           0           0           0        21,840         10,563       127,264         5,540
2010         21,840           0           0           0        21,840          8,630       135,894         4,098
2011         21,840           0           0           0        21,840          6,864       142,758         2,952
2012         21,840           0           0           0        21,840          5,249       148,007         2,044
2013         21,840           0           0           0        21,840          3,766       151,773         1,328
2014         21,840           0           0           0        21,840          2,400       154,173           767
2015         21,840           0           0           0        21,840          1,142       155,315           332
2016         10,920           0           0           0        10,920            129       155,444            35
2017              0           0           0           0             0              0       155,444             0

SUBTOT      294,840           0           0           0       294,840        155,444                     108,867
REMAIN            0           0           0           0             0              0       155,444             0
TOTAL       294,840           0           0           0       294,840        155,444                     108,867

  LIFE OF EVALUATION IS 13.50 YEARS.
  FINAL PRODUCTION RATE: 82 BBLS/MO	

TENGASCO, INC. TABLE 49
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LEIKER EAST FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 14-T15S-R18W PROVED
LEIKER #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.416670  0.364590                         27.29                               5.00% -        36,077
FINAL   -   0.416670  0.364590                         27.29                              10.00% -        28,470
REMARKS -                                                                                 15.00% -        23,288
                                                                                          20.00% -        19,602
                                                                                          25.00% -        16,879	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           878           0           0             320           0           0.000      27.29     0.00
2004     1           835           0           0             304           0           0.000      27.29     0.00
2005     1           793           0           0             290           0           0.000      27.29     0.00
2006     1           755           0           0             275           0           0.000      27.29     0.00
2007     1           718           0           0             262           0           0.000      27.29     0.00
2008     1           683           0           0             249           0           0.000      27.29     0.00
2009     1           649           0           0             236           0           0.000      27.29     0.00
2010     1           618           0           0             226           0           0.000      27.29     0.00
2011     1           587           0           0             214           0           0.000      27.29     0.00
2012     1           559           0           0             203           0           0.000      27.29     0.00
2013     1           531           0           0             194           0           0.000      27.29     0.00
2014     1           505           0           0             184           0           0.000      27.29     0.00
2015     1           480           0           0             175           0           0.000      27.29     0.00
2016     1           457           0           0             167           0           0.000      27.29     0.00
2017     1           434           0           0             158           0           0.000      27.29     0.00

SUB-TOTAL          9,482           0           0           3,457           0           0.000      27.29     0.00
REMAINDER          1,928           0           0             703           0           0.000      27.29     0.00
TOTAL             11,410           0           0           4,160           0           0.000      27.29     0.00

CUMULATIVE        26,941           0           0
ULTIMATE          38,351           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            8,733           0             0            0         8,733          53           0         8,680
2004            8,306           0             0            0         8,306          51           0         8,255
2005            7,899           0             0            0         7,899          48           0         7,851
2006            7,511           0             0            0         7,511          46           0         7,465
2007            7,144           0             0            0         7,144          44           0         7,100
2008            6,793           0             0            0         6,793          41           0         6,752
2009            6,461           0             0            0         6,461          39           0         6,422
2010            6,144           0             0            0         6,144          38           0         6,106
2011            5,842           0             0            0         5,842          35           0         5,807
2012            5,557           0             0            0         5,557          34           0         5,523
2013            5,284           0             0            0         5,284          33           0         5,251
2014            5,026           0             0            0         5,026          30           0         4,996
2015            4,779           0             0            0         4,779          29           0         4,750
2016            4,545           0             0            0         4,545          28           0         4,517
2017            4,322           0             0            0         4,322          27           0         4,295

SUB-TOT        94,346           0             0            0        94,346         576           0        93,770
REMAIN         19,179           0             0            0        19,179         117           0        19,062
TOTAL         113,525           0             0            0       113,525         693           0       112,832	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,225           0           0           0         3,225          5,455         5,455         5,196
2004          3,225           0           0           0         3,225          5,030        10,485         4,336
2005          3,225           0           0           0         3,225          4,626        15,111         3,611
2006          3,225           0           0           0         3,225          4,240        19,351         2,995
2007          3,225           0           0           0         3,225          3,875        23,226         2,479
2008          3,225           0           0           0         3,225          3,527        26,753         2,042
2009          3,225           0           0           0         3,225          3,197        29,950         1,675
2010          3,225           0           0           0         3,225          2,881        32,831         1,367
2011          3,225           0           0           0         3,225          2,582        35,413         1,109
2012          3,225           0           0           0         3,225          2,298        37,711           894
2013          3,225           0           0           0         3,225          2,026        39,737           713
2014          3,225           0           0           0         3,225          1,771        41,508           564
2015          3,225           0           0           0         3,225          1,525        43,033           440
2016          3,225           0           0           0         3,225          1,292        44,325           337
2017          3,225           0           0           0         3,225          1,070        45,395           253

SUBTOT       48,375           0           0           0        48,375         45,395                      28,011
REMAIN       16,663           0           0           0        16,663          2,399        47,794           459
TOTAL        65,038           0           0           0        65,038         47,794                      28,470

  LIFE OF EVALUATION IS 20.17 YEARS.
  FINAL PRODUCTION RATE: 27 BBLS/MO	

TENGASCO, INC. TABLE 50
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LEONHARDT SOUTHEAST FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T14S-R18W PROVED
KRAUS LEASE (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.792969                         27.29                               5.00% -         8,719
FINAL   -   1.000000  0.792969                         27.29                              10.00% -         8,125
REMARKS -                                                                                 15.00% -         7,594
                                                                                          20.00% -         7,118
                                                                                          25.00% -         6,690	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           899           0           0             713           0           0.000      27.29     0.00
2004     2           851           0           0             675           0           0.000      27.29     0.00
2005     2           808           0           0             640           0           0.000      27.29     0.00
2006     2           767           0           0             609           0           0.000      27.29     0.00
2007     2           491           0           0             389           0           0.000      27.29     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          3,816           0           0           3,026           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              3,816           0           0           3,026           0           0.000      27.29     0.00

CUMULATIVE        52,987           0           0
ULTIMATE          56,803           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           19,451           0             0            0        19,451         119           0        19,332
2004           18,422           0             0            0        18,422         112           0        18,310
2005           17,477           0             0            0        17,477         107           0        17,370
2006           16,607           0             0            0        16,607         101           0        16,506
2007           10,621           0             0            0        10,621          65           0        10,556
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        82,578           0             0            0        82,578         504           0        82,074
REMAIN              0           0             0            0             0           0           0             0
TOTAL          82,578           0             0            0        82,578         504           0        82,074	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         15,576           0           0           0        15,576          3,756         3,756         3,583
2004         15,576           0           0           0        15,576          2,734         6,490         2,363
2005         15,576           0           0           0        15,576          1,794         8,284         1,405
2006         15,576           0           0           0        15,576            930         9,214           661
2007         10,384           0           0           0        10,384            172         9,386           113
2008              0           0           0           0             0              0         9,386             0
2009              0           0           0           0             0              0         9,386             0
2010              0           0           0           0             0              0         9,386             0
2011              0           0           0           0             0              0         9,386             0
2012              0           0           0           0             0              0         9,386             0
2013              0           0           0           0             0              0         9,386             0
2014              0           0           0           0             0              0         9,386             0
2015              0           0           0           0             0              0         9,386             0
2016              0           0           0           0             0              0         9,386             0
2017              0           0           0           0             0              0         9,386             0

SUBTOT       72,688           0           0           0        72,688          9,386                       8,125
REMAIN            0           0           0           0             0              0         9,386             0
TOTAL        72,688           0           0           0        72,688          9,386                       8,125

  LIFE OF EVALUATION IS 4.67 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 51
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
  TENGASCO, INC. - OPERATOR   23-T16S-R18W                                            PROVED
    DECHANT -B- #2   (KANSAS CITY)                                                    PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          45
ULTIMATE               0           0          45	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 52
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
  TENGASCO, INC. - OPERATOR   23-T16S-R18W                                            PROVED
    GRAHAM #1   (KC-LANSING)                                                          PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         128    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         128        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 53
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
  TENGASCO, INC. - OPERATOR   26-T16S-R18W                                            PROVED
    LEGLEITER -B- #1   (KSSC-LNSG)                                                    PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -         6,528
FINAL   -   1.000000                      0.875000                             4.13       10.00% -         5,324
REMARKS -                                                                                 15.00% -         4,453
                                                                                          20.00% -         3,805
                                                                                          25.00% -         3,310	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           1               0           0           0.737       0.00     4.13
2004     1             0           0           1               0           0           0.715       0.00     4.13
2005     1             0           0           1               0           0           0.694       0.00     4.13
2006     1             0           0           1               0           0           0.673       0.00     4.13
2007     1             0           0           0               0           0           0.653       0.00     4.13
2008     1             0           0           1               0           0           0.633       0.00     4.13
2009     1             0           0           1               0           0           0.614       0.00     4.13
2010     1             0           0           1               0           0           0.596       0.00     4.13
2011     1             0           0           0               0           0           0.578       0.00     4.13
2012     1             0           0           1               0           0           0.560       0.00     4.13
2013     1             0           0           1               0           0           0.544       0.00     4.13
2014     1             0           0           0               0           0           0.527       0.00     4.13
2015     1             0           0           1               0           0           0.511       0.00     4.13
2016     1             0           0           1               0           0           0.496       0.00     4.13
2017     1             0           0           0               0           0           0.481       0.00     4.13

SUB-TOTAL              0           0          11               0           0           9.012       0.00     4.13
REMAINDER              0           0           1               0           0           0.274       0.00     4.13
TOTAL                  0           0          12               0           0           9.286       0.00     4.13

CUMULATIVE             0           0          31    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          43        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         3,045            0         3,045           0          54         2,991
2004                0           0         2,953            0         2,953           0          53         2,900
2005                0           0         2,864            0         2,864           0          51         2,813
2006                0           0         2,779            0         2,779           0          49         2,730
2007                0           0         2,695            0         2,695           0          48         2,647
2008                0           0         2,615            0         2,615           0          47         2,568
2009                0           0         2,536            0         2,536           0          45         2,491
2010                0           0         2,460            0         2,460           0          44         2,416
2011                0           0         2,386            0         2,386           0          42         2,344
2012                0           0         2,314            0         2,314           0          41         2,273
2013                0           0         2,245            0         2,245           0          40         2,205
2014                0           0         2,178            0         2,178           0          39         2,139
2015                0           0         2,113            0         2,113           0          38         2,075
2016                0           0         2,049            0         2,049           0          36         2,013
2017                0           0         1,987            0         1,987           0          36         1,951

SUB-TOT             0           0        37,219            0        37,219           0         663        36,556
REMAIN              0           0         1,132            0         1,132           0          20         1,112
TOTAL               0           0        38,351            0        38,351           0         683        37,668	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,889           0           0           0         1,889          1,102         1,102         1,050
2004          1,889           0           0           0         1,889          1,011         2,113           871
2005          1,889           0           0           0         1,889            924         3,037           721
2006          1,889           0           0           0         1,889            841         3,878           595
2007          1,889           0           0           0         1,889            758         4,636           485
2008          1,888           0           0           0         1,888            680         5,316           393
2009          1,888           0           0           0         1,888            603         5,919           316
2010          1,889           0           0           0         1,889            527         6,446           250
2011          1,888           0           0           0         1,888            456         6,902           196
2012          1,888           0           0           0         1,888            385         7,287           150
2013          1,888           0           0           0         1,888            317         7,604           112
2014          1,887           0           0           0         1,887            252         7,856            80
2015          1,888           0           0           0         1,888            187         8,043            54
2016          1,887           0           0           0         1,887            126         8,169            33
2017          1,888           0           0           0         1,888             63         8,232            15

SUBTOT       28,324           0           0           0        28,324          8,232                       5,321
REMAIN        1,100           0           0           0         1,100             12         8,244             3
TOTAL        29,424           0           0           0        29,424          8,244                       5,324

  LIFE OF EVALUATION IS 15.58 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 54
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
  TENGASCO, INC. - OPERATOR   24-T16S-R18W                                            PROVED
    LEGLEITER -C- #1   (PLEASONTON)                                                   PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          15
ULTIMATE               0           0          15	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 55
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

LIEBENTHAL FIELD, RUSH COUNTY, KANSAS                                                 GAS LEASE
  TENGASCO, INC. - OPERATOR   24-T16S-R18W                                            PROVED
    LEGLEITER -C- #2   (PLEASONTON)                                                   PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           3    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0           3        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

                                 TENGASCO, INC.                    TABLE     56
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

LITTLE RIO FIELD, RICE COUNTY, KANSAS                                 OIL LEASE
  TENGASCO, INC. - OPERATOR   19-T19S-R6W                             PROVED
    WHITEMAN-HOLLAND LEASE   (KSSC-LNSG-MSSP)                         PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -       171,375
FINAL   -   1.000000  0.820313                         27.29                              10.00% -       135,168
REMARKS -                                                                                 15.00% -       110,474
                                                                                          20.00% -        92,905
                                                                                          25.00% -        79,929	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         2,044           0           0           1,677           0           0.000      27.29     0.00
2004     3         1,958           0           0           1,606           0           0.000      27.29     0.00
2005     3         1,876           0           0           1,538           0           0.000      27.29     0.00
2006     3         1,797           0           0           1,475           0           0.000      27.29     0.00
2007     3         1,721           0           0           1,412           0           0.000      27.29     0.00
2008     3         1,649           0           0           1,353           0           0.000      27.29     0.00
2009     3         1,580           0           0           1,296           0           0.000      27.29     0.00
2010     3         1,514           0           0           1,241           0           0.000      27.29     0.00
2011     3         1,450           0           0           1,190           0           0.000      27.29     0.00
2012     3         1,389           0           0           1,139           0           0.000      27.29     0.00
2013     3         1,331           0           0           1,092           0           0.000      27.29     0.00
2014     3         1,275           0           0           1,046           0           0.000      27.29     0.00
2015     3         1,221           0           0           1,002           0           0.000      27.29     0.00
2016     3         1,170           0           0             959           0           0.000      27.29     0.00
2017     3         1,121           0           0             920           0           0.000      27.29     0.00

SUB-TOTAL         23,096           0           0          18,946           0           0.000      27.29     0.00
REMAINDER          4,788           0           0           3,928           0           0.000      27.29     0.00
TOTAL             27,884           0           0          22,874           0           0.000      27.29     0.00

CUMULATIVE        62,161           0           0
ULTIMATE          90,045           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           45,754           0             0            0        45,754         279           0        45,475
2004           43,832           0             0            0        43,832         267           0        43,565
2005           41,992           0             0            0        41,992         257           0        41,735
2006           40,228           0             0            0        40,228         245           0        39,983
2007           38,538           0             0            0        38,538         235           0        38,303
2008           36,920           0             0            0        36,920         225           0        36,695
2009           35,369           0             0            0        35,369         216           0        35,153
2010           33,883           0             0            0        33,883         207           0        33,676
2011           32,460           0             0            0        32,460         198           0        32,262
2012           31,097           0             0            0        31,097         189           0        30,908
2013           29,791           0             0            0        29,791         182           0        29,609
2014           28,540           0             0            0        28,540         174           0        28,366
2015           27,341           0             0            0        27,341         167           0        27,174
2016           26,193           0             0            0        26,193         160           0        26,033
2017           25,093           0             0            0        25,093         153           0        24,940

SUB-TOT       517,031           0             0            0       517,031       3,154           0       513,877
REMAIN        107,198           0             0            0       107,198         654           0       106,544
TOTAL         624,229           0             0            0       624,229       3,808           0       620,421	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         19,836           0           0           0        19,836         25,639        25,639        24,419
2004         19,836           0           0           0        19,836         23,729        49,368        20,458
2005         19,836           0           0           0        19,836         21,899        71,267        17,091
2006         19,836           0           0           0        19,836         20,147        91,414        14,234
2007         19,836           0           0           0        19,836         18,467       109,881        11,810
2008         19,836           0           0           0        19,836         16,859       126,740         9,761
2009         19,836           0           0           0        19,836         15,317       142,057         8,027
2010         19,836           0           0           0        19,836         13,840       155,897         6,567
2011         19,836           0           0           0        19,836         12,426       168,323         5,337
2012         19,836           0           0           0        19,836         11,072       179,395         4,305
2013         19,836           0           0           0        19,836          9,773       189,168         3,439
2014         19,836           0           0           0        19,836          8,530       197,698         2,719
2015         19,836           0           0           0        19,836          7,338       205,036         2,117
2016         19,836           0           0           0        19,836          6,197       211,233         1,618
2017         19,836           0           0           0        19,836          5,104       216,337         1,207

SUBTOT      297,540           0           0           0       297,540        216,337                     133,109
REMAIN       95,874           0           0           0        95,874         10,670       227,007         2,059
TOTAL       393,414           0           0           0       393,414        227,007                     135,168

  LIFE OF EVALUATION IS 19.83 YEARS.
  FINAL PRODUCTION RATE: 74 BBLS/MO	

TENGASCO, INC. TABLE 57
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.861328                         27.29                               5.00% -       147,806
FINAL   -   1.000000  0.861328                         27.29                              10.00% -       127,373
REMARKS -                                                                                 15.00% -       111,228
                                                                                          20.00% -        98,288
                                                                                          25.00% -        87,775	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4         3,933           0           0           3,388           0           0.000      27.29     0.00
2004     4         3,764           0           0           3,241           0           0.000      27.29     0.00
2005     4         3,602           0           0           3,103           0           0.000      27.29     0.00
2006     4         3,447           0           0           2,969           0           0.000      27.29     0.00
2007     4         3,299           0           0           2,841           0           0.000      27.29     0.00
2008     4         3,157           0           0           2,720           0           0.000      27.29     0.00
2009     4         3,021           0           0           2,602           0           0.000      27.29     0.00
2010     4         2,891           0           0           2,490           0           0.000      27.29     0.00
2011     4         2,767           0           0           2,384           0           0.000      27.29     0.00
2012     4         2,648           0           0           2,280           0           0.000      27.29     0.00
2013     4         1,911           0           0           1,646           0           0.000      27.29     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         34,440           0           0          29,664           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             34,440           0           0          29,664           0           0.000      27.29     0.00

CUMULATIVE       226,899           0           0
ULTIMATE         261,339           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           92,446           0             0            0        92,446         564           0        91,882
2004           88,471           0             0            0        88,471         540           0        87,931
2005           84,667           0             0            0        84,667         516           0        84,151
2006           81,026           0             0            0        81,026         494           0        80,532
2007           77,542           0             0            0        77,542         473           0        77,069
2008           74,208           0             0            0        74,208         453           0        73,755
2009           71,016           0             0            0        71,016         433           0        70,583
2010           67,963           0             0            0        67,963         415           0        67,548
2011           65,041           0             0            0        65,041         397           0        64,644
2012           62,244           0             0            0        62,244         379           0        61,865
2013           44,920           0             0            0        44,920         274           0        44,646
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       809,544           0             0            0       809,544       4,938           0       804,606
REMAIN              0           0             0            0             0           0           0             0
TOTAL         809,544           0             0            0       809,544       4,938           0       804,606	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         58,656           0           0           0        58,656         33,226        33,226        31,657
2004         58,656           0           0           0        58,656         29,275        62,501        25,250
2005         58,656           0           0           0        58,656         25,495        87,996        19,909
2006         58,656           0           0           0        58,656         21,876       109,872        15,465
2007         58,656           0           0           0        58,656         18,413       128,285        11,785
2008         58,656           0           0           0        58,656         15,099       143,384         8,750
2009         58,656           0           0           0        58,656         11,927       155,311         6,259
2010         58,656           0           0           0        58,656          8,892       164,203         4,227
2011         58,656           0           0           0        58,656          5,988       170,191         2,579
2012         58,656           0           0           0        58,656          3,209       173,400         1,256
2013         43,992           0           0           0        43,992            654       174,054           236
2014              0           0           0           0             0              0       174,054             0
2015              0           0           0           0             0              0       174,054             0
2016              0           0           0           0             0              0       174,054             0
2017              0           0           0           0             0              0       174,054             0

SUBTOT      630,552           0           0           0       630,552        174,054                     127,373
REMAIN            0           0           0           0             0              0       174,054             0
TOTAL       630,552           0           0           0       630,552        174,054                     127,373

  LIFE OF EVALUATION IS 10.75 YEARS.
  FINAL PRODUCTION RATE: 209 BBLS/MO	

TENGASCO, INC. TABLE 58
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -A- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.860369                         27.29                               5.00% -        71,294
FINAL   -   1.000000  0.860369                         27.29                              10.00% -        56,536
REMARKS -                                                                                 15.00% -        46,378
                                                                                          20.00% -        39,100
                                                                                          25.00% -        33,698	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3           846           0           0             728           0           0.000      27.29     0.00
2004     3           810           0           0             697           0           0.000      27.29     0.00
2005     3           776           0           0             668           0           0.000      27.29     0.00
2006     3           744           0           0             639           0           0.000      27.29     0.00
2007     3           712           0           0             613           0           0.000      27.29     0.00
2008     3           682           0           0             587           0           0.000      27.29     0.00
2009     3           654           0           0             563           0           0.000      27.29     0.00
2010     3           627           0           0             539           0           0.000      27.29     0.00
2011     3           600           0           0             516           0           0.000      27.29     0.00
2012     3           574           0           0             494           0           0.000      27.29     0.00
2013     3           551           0           0             474           0           0.000      27.29     0.00
2014     3           528           0           0             454           0           0.000      27.29     0.00
2015     3           505           0           0             435           0           0.000      27.29     0.00
2016     3           484           0           0             416           0           0.000      27.29     0.00
2017     3           464           0           0             399           0           0.000      27.29     0.00

SUB-TOTAL          9,557           0           0           8,222           0           0.000      27.29     0.00
REMAINDER          1,732           0           0           1,491           0           0.000      27.29     0.00
TOTAL             11,289           0           0           9,713           0           0.000      27.29     0.00

CUMULATIVE       219,342           0           0
ULTIMATE         230,631           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           19,857           0             0            0        19,857         121           0        19,736
2004           19,023           0             0            0        19,023         116           0        18,907
2005           18,225           0             0            0        18,225         111           0        18,114
2006           17,458           0             0            0        17,458         107           0        17,351
2007           16,726           0             0            0        16,726         102           0        16,624
2008           16,023           0             0            0        16,023          98           0        15,925
2009           15,350           0             0            0        15,350          93           0        15,257
2010           14,705           0             0            0        14,705          90           0        14,615
2011           14,088           0             0            0        14,088          86           0        14,002
2012           13,496           0             0            0        13,496          82           0        13,414
2013           12,930           0             0            0        12,930          79           0        12,851
2014           12,386           0             0            0        12,386          76           0        12,310
2015           11,866           0             0            0        11,866          72           0        11,794
2016           11,367           0             0            0        11,367          69           0        11,298
2017           10,891           0             0            0        10,891          67           0        10,824

SUB-TOT       224,391           0             0            0       224,391       1,369           0       223,022
REMAIN         40,665           0             0            0        40,665         248           0        40,417
TOTAL         265,056           0             0            0       265,056       1,617           0       263,439	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          8,856           0           0           0         8,856         10,880        10,880        10,362
2004          8,856           0           0           0         8,856         10,051        20,931         8,666
2005          8,856           0           0           0         8,856          9,258        30,189         7,226
2006          8,856           0           0           0         8,856          8,495        38,684         6,001
2007          8,856           0           0           0         8,856          7,768        46,452         4,969
2008          8,856           0           0           0         8,856          7,069        53,521         4,092
2009          8,856           0           0           0         8,856          6,401        59,922         3,355
2010          8,856           0           0           0         8,856          5,759        65,681         2,733
2011          8,856           0           0           0         8,856          5,146        70,827         2,210
2012          8,856           0           0           0         8,856          4,558        75,385         1,772
2013          8,856           0           0           0         8,856          3,995        79,380         1,406
2014          8,856           0           0           0         8,856          3,454        82,834         1,101
2015          8,856           0           0           0         8,856          2,938        85,772           848
2016          8,856           0           0           0         8,856          2,442        88,214           638
2017          8,856           0           0           0         8,856          1,968        90,182           465

SUBTOT      132,840           0           0           0       132,840         90,182                      55,844
REMAIN       36,900           0           0           0        36,900          3,517        93,699           692
TOTAL       169,740           0           0           0       169,740         93,699                      56,536

  LIFE OF EVALUATION IS 19.17 YEARS.
  FINAL PRODUCTION RATE: 32 BBLS/MO	

TENGASCO, INC. TABLE 59
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -B- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -       615,338
FINAL   -   1.000000  0.820313                         27.29                              10.00% -       483,203
REMARKS -                                                                                 15.00% -       393,705
                                                                                          20.00% -       330,364
                                                                                          25.00% -       283,773	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     6         7,337           0           0           6,019           0           0.000      27.29     0.00
2004     6         7,044           0           0           5,778           0           0.000      27.29     0.00
2005     6         6,762           0           0           5,547           0           0.000      27.29     0.00
2006     6         6,491           0           0           5,325           0           0.000      27.29     0.00
2007     6         6,232           0           0           5,112           0           0.000      27.29     0.00
2008     6         5,983           0           0           4,908           0           0.000      27.29     0.00
2009     6         5,743           0           0           4,711           0           0.000      27.29     0.00
2010     6         5,514           0           0           4,523           0           0.000      27.29     0.00
2011     6         5,293           0           0           4,342           0           0.000      27.29     0.00
2012     6         5,081           0           0           4,168           0           0.000      27.29     0.00
2013     6         4,878           0           0           4,001           0           0.000      27.29     0.00
2014     6         4,683           0           0           3,842           0           0.000      27.29     0.00
2015     6         4,495           0           0           3,688           0           0.000      27.29     0.00
2016     6         4,316           0           0           3,540           0           0.000      27.29     0.00
2017     6         4,143           0           0           3,398           0           0.000      27.29     0.00

SUB-TOTAL         83,995           0           0          68,902           0           0.000      27.29     0.00
REMAINDER         19,182           0           0          15,735           0           0.000      27.29     0.00
TOTAL            103,177           0           0          84,637           0           0.000      27.29     0.00

CUMULATIVE       509,871           0           0
ULTIMATE         613,048           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          164,254           0             0            0       164,254       1,002           0       163,252
2004          157,683           0             0            0       157,683         962           0       156,721
2005          151,376           0             0            0       151,376         923           0       150,453
2006          145,321           0             0            0       145,321         887           0       144,434
2007          139,508           0             0            0       139,508         851           0       138,657
2008          133,928           0             0            0       133,928         817           0       133,111
2009          128,571           0             0            0       128,571         784           0       127,787
2010          123,428           0             0            0       123,428         753           0       122,675
2011          118,490           0             0            0       118,490         723           0       117,767
2012          113,752           0             0            0       113,752         693           0       113,059
2013          109,201           0             0            0       109,201         667           0       108,534
2014          104,833           0             0            0       104,833         639           0       104,194
2015          100,640           0             0            0       100,640         614           0       100,026
2016           96,614           0             0            0        96,614         589           0        96,025
2017           92,749           0             0            0        92,749         566           0        92,183

SUB-TOT     1,880,348           0             0            0     1,880,348      11,470           0     1,868,878
REMAIN        429,408           0             0            0       429,408       2,620           0       426,788
TOTAL       2,309,756           0             0            0     2,309,756      14,090           0     2,295,666	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         72,864           0           0           0        72,864         90,388        90,388        86,085
2004         72,864           0           0           0        72,864         83,857       174,245        72,296
2005         72,864           0           0           0        72,864         77,589       251,834        60,554
2006         72,864           0           0           0        72,864         71,570       323,404        50,562
2007         72,864           0           0           0        72,864         65,793       389,197        42,077
2008         72,864           0           0           0        72,864         60,247       449,444        34,879
2009         72,864           0           0           0        72,864         54,923       504,367        28,784
2010         72,864           0           0           0        72,864         49,811       554,178        23,632
2011         72,864           0           0           0        72,864         44,903       599,081        19,285
2012         72,864           0           0           0        72,864         40,195       639,276        15,627
2013         72,864           0           0           0        72,864         35,670       674,946        12,555
2014         72,864           0           0           0        72,864         31,330       706,276         9,983
2015         72,864           0           0           0        72,864         27,162       733,438         7,835
2016         72,864           0           0           0        72,864         23,161       756,599         6,049
2017         72,864           0           0           0        72,864         19,319       775,918         4,568

SUBTOT    1,092,960           0           0           0     1,092,960        775,918                     474,771
REMAIN      382,536           0           0           0       382,536         44,252       820,170         8,432
TOTAL     1,475,496           0           0           0     1,475,496        820,170                     483,203

  LIFE OF EVALUATION IS 20.25 YEARS.
  FINAL PRODUCTION RATE: 273 BBLS/MO	

TENGASCO, INC. TABLE 60
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -C- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.806641                         27.29                               5.00% -       142,804
FINAL   -   1.000000  0.806641                         27.29                              10.00% -       111,546
REMARKS -                                                                                 15.00% -        90,579
                                                                                          20.00% -        75,842
                                                                                          25.00% -        65,055	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,609           0           0           1,298           0           0.000      27.29     0.00
2004     2         1,542           0           0           1,244           0           0.000      27.29     0.00
2005     2         1,477           0           0           1,191           0           0.000      27.29     0.00
2006     2         1,415           0           0           1,141           0           0.000      27.29     0.00
2007     2         1,355           0           0           1,094           0           0.000      27.29     0.00
2008     2         1,299           0           0           1,047           0           0.000      27.29     0.00
2009     2         1,244           0           0           1,003           0           0.000      27.29     0.00
2010     2         1,191           0           0             962           0           0.000      27.29     0.00
2011     2         1,142           0           0             921           0           0.000      27.29     0.00
2012     2         1,094           0           0             882           0           0.000      27.29     0.00
2013     2         1,047           0           0             845           0           0.000      27.29     0.00
2014     2         1,004           0           0             810           0           0.000      27.29     0.00
2015     2           962           0           0             775           0           0.000      27.29     0.00
2016     2           921           0           0             744           0           0.000      27.29     0.00
2017     2           883           0           0             711           0           0.000      27.29     0.00

SUB-TOTAL         18,185           0           0          14,668           0           0.000      27.29     0.00
REMAINDER          4,624           0           0           3,731           0           0.000      27.29     0.00
TOTAL             22,809           0           0          18,399           0           0.000      27.29     0.00

CUMULATIVE       124,563           0           0
ULTIMATE         147,372           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           35,424           0             0            0        35,424         216           0        35,208
2004           33,937           0             0            0        33,937         207           0        33,730
2005           32,511           0             0            0        32,511         198           0        32,313
2006           31,146           0             0            0        31,146         190           0        30,956
2007           29,837           0             0            0        29,837         182           0        29,655
2008           28,585           0             0            0        28,585         175           0        28,410
2009           27,384           0             0            0        27,384         167           0        27,217
2010           26,233           0             0            0        26,233         160           0        26,073
2011           25,132           0             0            0        25,132         153           0        24,979
2012           24,077           0             0            0        24,077         147           0        23,930
2013           23,065           0             0            0        23,065         141           0        22,924
2014           22,096           0             0            0        22,096         135           0        21,961
2015           21,169           0             0            0        21,169         129           0        21,040
2016           20,279           0             0            0        20,279         123           0        20,156
2017           19,428           0             0            0        19,428         119           0        19,309

SUB-TOT       400,303           0             0            0       400,303       2,442           0       397,861
REMAIN        101,803           0             0            0       101,803         621           0       101,182
TOTAL         502,106           0             0            0       502,106       3,063           0       499,043	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         14,568           0           0           0        14,568         20,640        20,640        19,657
2004         14,568           0           0           0        14,568         19,162        39,802        16,521
2005         14,568           0           0           0        14,568         17,745        57,547        13,848
2006         14,568           0           0           0        14,568         16,388        73,935        11,578
2007         14,568           0           0           0        14,568         15,087        89,022         9,648
2008         14,568           0           0           0        14,568         13,842       102,864         8,014
2009         14,568           0           0           0        14,568         12,649       115,513         6,629
2010         14,568           0           0           0        14,568         11,505       127,018         5,458
2011         14,568           0           0           0        14,568         10,411       137,429         4,471
2012         14,568           0           0           0        14,568          9,362       146,791         3,640
2013         14,568           0           0           0        14,568          8,356       155,147         2,941
2014         14,568           0           0           0        14,568          7,393       162,540         2,355
2015         14,568           0           0           0        14,568          6,472       169,012         1,867
2016         14,568           0           0           0        14,568          5,588       174,600         1,459
2017         14,568           0           0           0        14,568          4,741       179,341         1,121

SUBTOT      218,520           0           0           0       218,520        179,341                     109,207
REMAIN       88,622           0           0           0        88,622         12,560       191,901         2,339
TOTAL       307,142           0           0           0       307,142        191,901                     111,546

  LIFE OF EVALUATION IS 21.08 YEARS.
  FINAL PRODUCTION RATE: 56 BBLS/MO	

TENGASCO, INC. TABLE 61
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T10S-R19W PROVED
DICK LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       354,865
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       297,848
REMARKS -                                                                                 15.00% -       256,758
                                                                                          20.00% -       225,951
                                                                                          25.00% -       202,066	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         4,857           0           0           4,250           0           0.000      27.29     0.00
2004     3         3,815           0           0           3,338           0           0.000      27.29     0.00
2005     3         3,199           0           0           2,799           0           0.000      27.29     0.00
2006     3         2,783           0           0           2,435           0           0.000      27.29     0.00
2007     3         2,481           0           0           2,171           0           0.000      27.29     0.00
2008     3         2,250           0           0           1,969           0           0.000      27.29     0.00
2009     3         2,066           0           0           1,808           0           0.000      27.29     0.00
2010     3         1,915           0           0           1,676           0           0.000      27.29     0.00
2011     3         1,790           0           0           1,566           0           0.000      27.29     0.00
2012     3         1,683           0           0           1,472           0           0.000      27.29     0.00
2013     3         1,590           0           0           1,392           0           0.000      27.29     0.00
2014     3         1,510           0           0           1,321           0           0.000      27.29     0.00
2015     3         1,439           0           0           1,259           0           0.000      27.29     0.00
2016     3         1,376           0           0           1,203           0           0.000      27.29     0.00
2017     3         1,318           0           0           1,154           0           0.000      27.29     0.00

SUB-TOTAL         34,072           0           0          29,813           0           0.000      27.29     0.00
REMAINDER          5,311           0           0           4,647           0           0.000      27.29     0.00
TOTAL             39,383           0           0          34,460           0           0.000      27.29     0.00

CUMULATIVE       102,647           0           0
ULTIMATE         142,030           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          115,984           0             0            0       115,984         708           0       115,276
2004           91,098           0             0            0        91,098         555           0        90,543
2005           76,377           0             0            0        76,377         466           0        75,911
2006           66,463           0             0            0        66,463         406           0        66,057
2007           59,250           0             0            0        59,250         361           0        58,889
2008           53,724           0             0            0        53,724         328           0        53,396
2009           49,329           0             0            0        49,329         301           0        49,028
2010           45,737           0             0            0        45,737         279           0        45,458
2011           42,735           0             0            0        42,735         260           0        42,475
2012           40,181           0             0            0        40,181         245           0        39,936
2013           37,978           0             0            0        37,978         232           0        37,746
2014           36,054           0             0            0        36,054         220           0        35,834
2015           34,357           0             0            0        34,357         210           0        34,147
2016           32,846           0             0            0        32,846         200           0        32,646
2017           31,490           0             0            0        31,490         192           0        31,298

SUB-TOT       813,603           0             0            0       813,603       4,963           0       808,640
REMAIN        126,820           0             0            0       126,820         774           0       126,046
TOTAL         940,423           0             0            0       940,423       5,737           0       934,686	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         25,488           0           0           0        25,488         89,788        89,788        85,723
2004         25,488           0           0           0        25,488         65,055       154,843        56,180
2005         25,488           0           0           0        25,488         50,423       205,266        39,401
2006         25,488           0           0           0        25,488         40,569       245,835        28,690
2007         25,488           0           0           0        25,488         33,401       279,236        21,379
2008         25,488           0           0           0        25,488         27,908       307,144        16,168
2009         25,488           0           0           0        25,488         23,540       330,684        12,344
2010         25,488           0           0           0        25,488         19,970       350,654         9,479
2011         25,488           0           0           0        25,488         16,987       367,641         7,299
2012         25,488           0           0           0        25,488         14,448       382,089         5,619
2013         25,488           0           0           0        25,488         12,258       394,347         4,316
2014         25,488           0           0           0        25,488         10,346       404,693         3,298
2015         25,488           0           0           0        25,488          8,659       413,352         2,498
2016         25,488           0           0           0        25,488          7,158       420,510         1,870
2017         25,488           0           0           0        25,488          5,810       426,320         1,375

SUBTOT      382,320           0           0           0       382,320        426,320                     295,639
REMAIN      114,696           0           0           0       114,696         11,350       437,670         2,209
TOTAL       497,016           0           0           0       497,016        437,670                     297,848

  LIFE OF EVALUATION IS 19.50 YEARS.
  FINAL PRODUCTION RATE: 90 BBLS/MO	

TENGASCO, INC. TABLE 62
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T9S-R18W PROVED
HARRISON -A- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       938,819
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       695,076
REMARKS -                                                                                 15.00% -       547,395
                                                                                          20.00% -       450,169
                                                                                          25.00% -       381,912	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4         5,962           0           0           5,217           0           0.000      27.29     0.00
2004     4         5,634           0           0           4,929           0           0.000      27.29     0.00
2005     4         5,324           0           0           4,659           0           0.000      27.29     0.00
2006     4         5,031           0           0           4,402           0           0.000      27.29     0.00
2007     4         4,754           0           0           4,160           0           0.000      27.29     0.00
2008     4         4,493           0           0           3,932           0           0.000      27.29     0.00
2009     4         4,246           0           0           3,715           0           0.000      27.29     0.00
2010     4         4,013           0           0           3,510           0           0.000      27.29     0.00
2011     4         3,791           0           0           3,318           0           0.000      27.29     0.00
2012     4         3,583           0           0           3,135           0           0.000      27.29     0.00
2013     4         3,386           0           0           2,963           0           0.000      27.29     0.00
2014     4         3,200           0           0           2,800           0           0.000      27.29     0.00
2015     4         3,024           0           0           2,646           0           0.000      27.29     0.00
2016     4         2,858           0           0           2,500           0           0.000      27.29     0.00
2017     4         2,700           0           0           2,363           0           0.000      27.29     0.00

SUB-TOTAL         61,999           0           0          54,249           0           0.000      27.29     0.00
REMAINDER         28,578           0           0          25,006           0           0.000      27.29     0.00
TOTAL             90,577           0           0          79,255           0           0.000      27.29     0.00

CUMULATIVE       257,624           0           0
ULTIMATE         348,201           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          142,360           0             0            0       142,360         868           0       141,492
2004          134,530           0             0            0       134,530         821           0       133,709
2005          127,131           0             0            0       127,131         776           0       126,355
2006          120,139           0             0            0       120,139         732           0       119,407
2007          113,531           0             0            0       113,531         693           0       112,838
2008          107,287           0             0            0       107,287         654           0       106,633
2009          101,386           0             0            0       101,386         619           0       100,767
2010           95,809           0             0            0        95,809         584           0        95,225
2011           90,541           0             0            0        90,541         553           0        89,988
2012           85,560           0             0            0        85,560         521           0        85,039
2013           80,855           0             0            0        80,855         494           0        80,361
2014           76,408           0             0            0        76,408         466           0        75,942
2015           72,205           0             0            0        72,205         440           0        71,765
2016           68,234           0             0            0        68,234         416           0        67,818
2017           64,481           0             0            0        64,481         394           0        64,087

SUB-TOT     1,480,457           0             0            0     1,480,457       9,031           0     1,471,426
REMAIN        682,413           0             0            0       682,413       4,163           0       678,250
TOTAL       2,162,870           0             0            0     2,162,870      13,194           0     2,149,676	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         23,952           0           0           0        23,952        117,540       117,540       111,939
2004         23,952           0           0           0        23,952        109,757       227,297        94,620
2005         23,952           0           0           0        23,952        102,403       329,700        79,913
2006         23,952           0           0           0        23,952         95,455       425,155        67,431
2007         23,952           0           0           0        23,952         88,886       514,041        56,839
2008         23,952           0           0           0        23,952         82,681       596,722        47,860
2009         23,952           0           0           0        23,952         76,815       673,537        40,250
2010         23,952           0           0           0        23,952         71,273       744,810        33,806
2011         23,952           0           0           0        23,952         66,036       810,846        28,354
2012         23,952           0           0           0        23,952         61,087       871,933        23,744
2013         23,952           0           0           0        23,952         56,409       928,342        19,847
2014         23,952           0           0           0        23,952         51,990       980,332        16,558
2015         23,952           0           0           0        23,952         47,813     1,028,145        13,785
2016         23,952           0           0           0        23,952         43,866     1,072,011        11,449
2017         23,952           0           0           0        23,952         40,135     1,112,146         9,482

SUBTOT      359,280           0           0           0       359,280      1,112,146                     655,877
REMAIN      405,188           0           0           0       405,188        273,062     1,385,208        39,199
TOTAL       764,468           0           0           0       764,468      1,385,208                     695,076

  LIFE OF EVALUATION IS 31.92 YEARS.
  FINAL PRODUCTION RATE: 84 BBLS/MO	

TENGASCO, INC. TABLE 63
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T9S-R18W PROVED
HILGERS -B- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       101,064
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        82,222
REMARKS -                                                                                 15.00% -        68,805
                                                                                          20.00% -        58,920
                                                                                          25.00% -        51,413	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         1,393           0           0           1,219           0           0.000      27.29     0.00
2004     3         1,308           0           0           1,144           0           0.000      27.29     0.00
2005     3         1,232           0           0           1,078           0           0.000      27.29     0.00
2006     3         1,164           0           0           1,019           0           0.000      27.29     0.00
2007     3         1,104           0           0             966           0           0.000      27.29     0.00
2008     3         1,049           0           0             918           0           0.000      27.29     0.00
2009     3         1,000           0           0             874           0           0.000      27.29     0.00
2010     3           954           0           0             836           0           0.000      27.29     0.00
2011     3           914           0           0             799           0           0.000      27.29     0.00
2012     3           876           0           0             767           0           0.000      27.29     0.00
2013     3           841           0           0             735           0           0.000      27.29     0.00
2014     3           807           0           0             707           0           0.000      27.29     0.00
2015     3           775           0           0             678           0           0.000      27.29     0.00
2016     3           744           0           0             650           0           0.000      27.29     0.00
2017     3           714           0           0             625           0           0.000      27.29     0.00

SUB-TOTAL         14,875           0           0          13,015           0           0.000      27.29     0.00
REMAINDER          1,557           0           0           1,363           0           0.000      27.29     0.00
TOTAL             16,432           0           0          14,378           0           0.000      27.29     0.00

CUMULATIVE       218,060           0           0
ULTIMATE         234,492           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           33,271           0             0            0        33,271         203           0        33,068
2004           31,224           0             0            0        31,224         190           0        31,034
2005           29,413           0             0            0        29,413         180           0        29,233
2006           27,801           0             0            0        27,801         169           0        27,632
2007           26,355           0             0            0        26,355         161           0        26,194
2008           25,054           0             0            0        25,054         153           0        24,901
2009           23,872           0             0            0        23,872         146           0        23,726
2010           22,799           0             0            0        22,799         139           0        22,660
2011           21,817           0             0            0        21,817         133           0        21,684
2012           20,916           0             0            0        20,916         127           0        20,789
2013           20,076           0             0            0        20,076         123           0        19,953
2014           19,274           0             0            0        19,274         117           0        19,157
2015           18,502           0             0            0        18,502         113           0        18,389
2016           17,762           0             0            0        17,762         109           0        17,653
2017           17,052           0             0            0        17,052         104           0        16,948

SUB-TOT       355,188           0             0            0       355,188       2,167           0       353,021
REMAIN         37,182           0             0            0        37,182         226           0        36,956
TOTAL         392,370           0             0            0       392,370       2,393           0       389,977	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         15,084           0           0           0        15,084         17,984        17,984        17,134
2004         15,084           0           0           0        15,084         15,950        33,934        13,756
2005         15,084           0           0           0        15,084         14,149        48,083        11,047
2006         15,084           0           0           0        15,084         12,548        60,631         8,867
2007         15,084           0           0           0        15,084         11,110        71,741         7,108
2008         15,084           0           0           0        15,084          9,817        81,558         5,685
2009         15,084           0           0           0        15,084          8,642        90,200         4,530
2010         15,084           0           0           0        15,084          7,576        97,776         3,595
2011         15,084           0           0           0        15,084          6,600       104,376         2,836
2012         15,084           0           0           0        15,084          5,705       110,081         2,218
2013         15,084           0           0           0        15,084          4,869       114,950         1,715
2014         15,084           0           0           0        15,084          4,073       119,023         1,298
2015         15,084           0           0           0        15,084          3,305       122,328           954
2016         15,084           0           0           0        15,084          2,569       124,897           672
2017         15,084           0           0           0        15,084          1,864       126,761           441

SUBTOT      226,260           0           0           0       226,260        126,761                      81,856
REMAIN       35,196           0           0           0        35,196          1,760       128,521           366
TOTAL       261,456           0           0           0       261,456        128,521                      82,222

  LIFE OF EVALUATION IS 17.33 YEARS.
  FINAL PRODUCTION RATE: 53 BBLS/MO	

TENGASCO, INC. TABLE 64
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T9S-R18W PROVED
KABA #2 (ARBUCKLE-LANSING-T) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        23,365           0           0
ULTIMATE          23,365           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 65
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
OMLOR FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T22S-R14W PROVED
MILLER #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.875000  0.708801                         27.29                               5.00% -        41,408
FINAL   -   0.875000  0.708801                         27.29                              10.00% -        35,039
REMARKS -                                                                                 15.00% -        30,179
                                                                                          20.00% -        26,395
                                                                                          25.00% -        23,392	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           691           0           0             490           0           0.000      27.29     0.00
2004     1           635           0           0             450           0           0.000      27.29     0.00
2005     1           585           0           0             415           0           0.000      27.29     0.00
2006     1           538           0           0             381           0           0.000      27.29     0.00
2007     1           495           0           0             351           0           0.000      27.29     0.00
2008     1           455           0           0             322           0           0.000      27.29     0.00
2009     1           419           0           0             297           0           0.000      27.29     0.00
2010     1           385           0           0             273           0           0.000      27.29     0.00
2011     1           355           0           0             252           0           0.000      27.29     0.00
2012     1           326           0           0             231           0           0.000      27.29     0.00
2013     1           300           0           0             213           0           0.000      27.29     0.00
2014     1           276           0           0             195           0           0.000      27.29     0.00
2015     1           254           0           0             180           0           0.000      27.29     0.00
2016     1            24           0           0              17           0           0.000      27.29     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          5,738           0           0           4,067           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              5,738           0           0           4,067           0           0.000      27.29     0.00

CUMULATIVE        34,002           0           0
ULTIMATE          39,740           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           13,362           0             0            0        13,362          82           0        13,280
2004           12,294           0             0            0        12,294          74           0        12,220
2005           11,309           0             0            0        11,309          69           0        11,240
2006           10,405           0             0            0        10,405          64           0        10,341
2007            9,573           0             0            0         9,573          58           0         9,515
2008            8,807           0             0            0         8,807          54           0         8,753
2009            8,102           0             0            0         8,102          49           0         8,053
2010            7,454           0             0            0         7,454          46           0         7,408
2011            6,858           0             0            0         6,858          42           0         6,816
2012            6,309           0             0            0         6,309          38           0         6,271
2013            5,805           0             0            0         5,805          36           0         5,769
2014            5,340           0             0            0         5,340          32           0         5,308
2015            4,912           0             0            0         4,912          30           0         4,882
2016              461           0             0            0           461           3           0           458
2017                0           0             0            0             0           0           0             0

SUB-TOT       110,991           0             0            0       110,991         677           0       110,314
REMAIN              0           0             0            0             0           0           0             0
TOTAL         110,991           0             0            0       110,991         677           0       110,314	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,610           0           0           0         4,610          8,670         8,670         8,261
2004          4,609           0           0           0         4,609          7,611        16,281         6,565
2005          4,610           0           0           0         4,610          6,630        22,911         5,177
2006          4,609           0           0           0         4,609          5,732        28,643         4,052
2007          4,610           0           0           0         4,610          4,905        33,548         3,138
2008          4,609           0           0           0         4,609          4,144        37,692         2,401
2009          4,610           0           0           0         4,610          3,443        41,135         1,806
2010          4,609           0           0           0         4,609          2,799        43,934         1,329
2011          4,610           0           0           0         4,610          2,206        46,140           949
2012          4,609           0           0           0         4,609          1,662        47,802           647
2013          4,610           0           0           0         4,610          1,159        48,961           409
2014          4,609           0           0           0         4,609            699        49,660           224
2015          4,610           0           0           0         4,610            272        49,932            79
2016            452           0           0           0           452              6        49,938             2
2017              0           0           0           0             0              0        49,938             0

SUBTOT       60,376           0           0           0        60,376         49,938                      35,039
REMAIN            0           0           0           0             0              0        49,938             0
TOTAL        60,376           0           0           0        60,376         49,938                      35,039

  LIFE OF EVALUATION IS 13.10 YEARS.
  FINAL PRODUCTION RATE: 20 BBLS/MO	

TENGASCO, INC. TABLE 66
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
OMLOR FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T22S-R14W PROVED
WILLIAMS #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.875000  0.715210                         27.29                               5.00% -        89,039
FINAL   -   0.875000  0.715210                         27.29                              10.00% -        72,808
REMARKS -                                                                                 15.00% -        61,144
                                                                                          20.00% -        52,487
                                                                                          25.00% -        45,873	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,094           0           0             782           0           0.000      27.29     0.00
2004     1         1,006           0           0             720           0           0.000      27.29     0.00
2005     1           926           0           0             662           0           0.000      27.29     0.00
2006     1           851           0           0             609           0           0.000      27.29     0.00
2007     1           784           0           0             561           0           0.000      27.29     0.00
2008     1           721           0           0             515           0           0.000      27.29     0.00
2009     1           663           0           0             475           0           0.000      27.29     0.00
2010     1           610           0           0             436           0           0.000      27.29     0.00
2011     1           562           0           0             401           0           0.000      27.29     0.00
2012     1           516           0           0             370           0           0.000      27.29     0.00
2013     1           475           0           0             340           0           0.000      27.29     0.00
2014     1           437           0           0             312           0           0.000      27.29     0.00
2015     1           402           0           0             288           0           0.000      27.29     0.00
2016     1           370           0           0             264           0           0.000      27.29     0.00
2017     1           341           0           0             244           0           0.000      27.29     0.00

SUB-TOTAL          9,758           0           0           6,979           0           0.000      27.29     0.00
REMAINDER            692           0           0             495           0           0.000      27.29     0.00
TOTAL             10,450           0           0           7,474           0           0.000      27.29     0.00

CUMULATIVE       114,978           0           0
ULTIMATE         125,428           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           21,348           0             0            0        21,348         130           0        21,218
2004           19,641           0             0            0        19,641         120           0        19,521
2005           18,069           0             0            0        18,069         110           0        17,959
2006           16,623           0             0            0        16,623         102           0        16,521
2007           15,294           0             0            0        15,294          93           0        15,201
2008           14,070           0             0            0        14,070          86           0        13,984
2009           12,945           0             0            0        12,945          79           0        12,866
2010           11,909           0             0            0        11,909          72           0        11,837
2011           10,956           0             0            0        10,956          67           0        10,889
2012           10,080           0             0            0        10,080          62           0        10,018
2013            9,273           0             0            0         9,273          56           0         9,217
2014            8,532           0             0            0         8,532          52           0         8,480
2015            7,849           0             0            0         7,849          48           0         7,801
2016            7,221           0             0            0         7,221          44           0         7,177
2017            6,644           0             0            0         6,644          41           0         6,603

SUB-TOT       190,454           0             0            0       190,454       1,162           0       189,292
REMAIN         13,507           0             0            0        13,507          82           0        13,425
TOTAL         203,961           0             0            0       203,961       1,244           0       202,717	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          5,208           0           0           0         5,208         16,010        16,010        15,252
2004          5,208           0           0           0         5,208         14,313        30,323        12,344
2005          5,208           0           0           0         5,208         12,751        43,074         9,955
2006          5,208           0           0           0         5,208         11,313        54,387         7,995
2007          5,208           0           0           0         5,208          9,993        64,380         6,393
2008          5,208           0           0           0         5,208          8,776        73,156         5,082
2009          5,208           0           0           0         5,208          7,658        80,814         4,015
2010          5,208           0           0           0         5,208          6,629        87,443         3,146
2011          5,208           0           0           0         5,208          5,681        93,124         2,441
2012          5,208           0           0           0         5,208          4,810        97,934         1,871
2013          5,208           0           0           0         5,208          4,009       101,943         1,412
2014          5,208           0           0           0         5,208          3,272       105,215         1,043
2015          5,208           0           0           0         5,208          2,593       107,808           749
2016          5,208           0           0           0         5,208          1,969       109,777           515
2017          5,208           0           0           0         5,208          1,395       111,172           330

SUBTOT       78,120           0           0           0        78,120        111,172                      72,543
REMAIN       12,152           0           0           0        12,152          1,273       112,445           265
TOTAL        90,272           0           0           0        90,272        112,445                      72,808

  LIFE OF EVALUATION IS 17.33 YEARS.
  FINAL PRODUCTION RATE: 22 BBLS/MO	

TENGASCO, INC. TABLE 67
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

OTIS-ALBERT FIELD, RUSH COUNTY, KANSAS                                                GAS LEASE
  TENGASCO, INC. - OPERATOR   2-T18S-R16W                                             PROVED
    HARTMAN -C- #1   (PENNSYLVANIAN)                                                  PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          73
ULTIMATE               0           0          73

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 68
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T9S-R18W PROVED
STAHL LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.843750                         27.29                               5.00% -       640,574
FINAL   -   1.000000  0.843750                         27.29                              10.00% -       476,630
REMARKS -                                                                                 15.00% -       375,402
                                                                                          20.00% -       308,227
                                                                                          25.00% -       260,963	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4         5,285           0           0           4,459           0           0.000      27.29     0.00
2004     4         5,084           0           0           4,290           0           0.000      27.29     0.00
2005     4         4,891           0           0           4,127           0           0.000      27.29     0.00
2006     4         4,705           0           0           3,970           0           0.000      27.29     0.00
2007     4         4,526           0           0           3,819           0           0.000      27.29     0.00
2008     4         4,355           0           0           3,674           0           0.000      27.29     0.00
2009     4         4,189           0           0           3,534           0           0.000      27.29     0.00
2010     4         4,029           0           0           3,400           0           0.000      27.29     0.00
2011     4         3,877           0           0           3,271           0           0.000      27.29     0.00
2012     4         3,729           0           0           3,146           0           0.000      27.29     0.00
2013     4         3,587           0           0           3,027           0           0.000      27.29     0.00
2014     4         3,452           0           0           2,912           0           0.000      27.29     0.00
2015     4         3,320           0           0           2,801           0           0.000      27.29     0.00
2016     4         3,194           0           0           2,695           0           0.000      27.29     0.00
2017     4         3,072           0           0           2,593           0           0.000      27.29     0.00

SUB-TOTAL         61,295           0           0          51,718           0           0.000      27.29     0.00
REMAINDER         30,319           0           0          25,581           0           0.000      27.29     0.00
TOTAL             91,614           0           0          77,299           0           0.000      27.29     0.00

CUMULATIVE       138,112           0           0
ULTIMATE         229,726           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          121,691           0             0            0       121,691         742           0       120,949
2004          117,067           0             0            0       117,067         714           0       116,353
2005          112,619           0             0            0       112,619         687           0       111,932
2006          108,339           0             0            0       108,339         661           0       107,678
2007          104,222           0             0            0       104,222         636           0       103,586
2008          100,262           0             0            0       100,262         612           0        99,650
2009           96,451           0             0            0        96,451         588           0        95,863
2010           92,787           0             0            0        92,787         566           0        92,221
2011           89,261           0             0            0        89,261         544           0        88,717
2012           85,868           0             0            0        85,868         524           0        85,344
2013           82,606           0             0            0        82,606         504           0        82,102
2014           79,467           0             0            0        79,467         485           0        78,982
2015           76,447           0             0            0        76,447         466           0        75,981
2016           73,542           0             0            0        73,542         449           0        73,093
2017           70,747           0             0            0        70,747         431           0        70,316

SUB-TOT     1,411,376           0             0            0     1,411,376       8,609           0     1,402,767
REMAIN        698,118           0             0            0       698,118       4,259           0       693,859
TOTAL       2,109,494           0             0            0     2,109,494      12,868           0     2,096,626	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         42,048           0           0           0        42,048         78,901        78,901        75,136
2004         42,048           0           0           0        42,048         74,305       153,206        64,053
2005         42,048           0           0           0        42,048         69,884       223,090        54,532
2006         42,048           0           0           0        42,048         65,630       288,720        46,359
2007         42,048           0           0           0        42,048         61,538       350,258        39,349
2008         42,048           0           0           0        42,048         57,602       407,860        33,342
2009         42,048           0           0           0        42,048         53,815       461,675        28,197
2010         42,048           0           0           0        42,048         50,173       511,848        23,797
2011         42,048           0           0           0        42,048         46,669       558,517        20,038
2012         42,048           0           0           0        42,048         43,296       601,813        16,828
2013         42,048           0           0           0        42,048         40,054       641,867        14,093
2014         42,048           0           0           0        42,048         36,934       678,801        11,763
2015         42,048           0           0           0        42,048         33,933       712,734         9,783
2016         42,048           0           0           0        42,048         31,045       743,779         8,103
2017         42,048           0           0           0        42,048         28,268       772,047         6,679

SUBTOT      630,720           0           0           0       630,720        772,047                     452,052
REMAIN      536,112           0           0           0       536,112        157,747       929,794        24,578
TOTAL     1,166,832           0           0           0     1,166,832        929,794                     476,630

  LIFE OF EVALUATION IS 27.75 YEARS.
  FINAL PRODUCTION RATE: 153 BBLS/MO	

TENGASCO, INC. TABLE 69
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T9S-R18W PROVED
STAHL #7 PUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.843750                         27.29                               5.00% -       394,468
FINAL   -   1.000000  0.843750                         27.29                              10.00% -       253,480
REMARKS -                                                                                 15.00% -       173,973
                                                                                          20.00% -       124,875
                                                                                          25.00% -        92,408	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         3,426           0           0           2,891           0           0.000      27.29     0.00
2005     1         3,228           0           0           2,723           0           0.000      27.29     0.00
2006     1         2,608           0           0           2,201           0           0.000      27.29     0.00
2007     1         2,484           0           0           2,096           0           0.000      27.29     0.00
2008     1         2,367           0           0           1,997           0           0.000      27.29     0.00
2009     1         2,256           0           0           1,903           0           0.000      27.29     0.00
2010     1         2,149           0           0           1,813           0           0.000      27.29     0.00
2011     1         2,047           0           0           1,728           0           0.000      27.29     0.00
2012     1         1,951           0           0           1,646           0           0.000      27.29     0.00
2013     1         1,859           0           0           1,568           0           0.000      27.29     0.00
2014     1         1,771           0           0           1,494           0           0.000      27.29     0.00
2015     1         1,687           0           0           1,424           0           0.000      27.29     0.00
2016     1         1,608           0           0           1,357           0           0.000      27.29     0.00
2017     1         1,532           0           0           1,292           0           0.000      27.29     0.00

SUB-TOTAL         30,973           0           0          26,133           0           0.000      27.29     0.00
REMAINDER         16,013           0           0          13,511           0           0.000      27.29     0.00
TOTAL             46,986           0           0          39,644           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          46,986           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           78,886           0             0            0        78,886         481           0        78,405
2005           74,333           0             0            0        74,333         454           0        73,879
2006           60,040           0             0            0        60,040         366           0        59,674
2007           57,205           0             0            0        57,205         349           0        56,856
2008           54,505           0             0            0        54,505         332           0        54,173
2009           51,933           0             0            0        51,933         317           0        51,616
2010           49,482           0             0            0        49,482         302           0        49,180
2011           47,146           0             0            0        47,146         288           0        46,858
2012           44,920           0             0            0        44,920         274           0        44,646
2013           42,801           0             0            0        42,801         261           0        42,540
2014           40,780           0             0            0        40,780         248           0        40,532
2015           38,855           0             0            0        38,855         237           0        38,618
2016           37,022           0             0            0        37,022         226           0        36,796
2017           35,274           0             0            0        35,274         215           0        35,059

SUB-TOT       713,182           0             0            0       713,182       4,350           0       708,832
REMAIN        368,715           0             0            0       368,715       2,250           0       366,465
TOTAL       1,081,897           0             0            0     1,081,897       6,600           0     1,075,297	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          5,256           0     100,000           0       105,256        -26,851       -26,851       -24,152
2005         10,512           0           0           0        10,512         63,367        36,516        49,740
2006         10,512           0           0           0        10,512         49,162        85,678        34,725
2007         10,512           0           0           0        10,512         46,344       132,022        29,632
2008         10,512           0           0           0        10,512         43,661       175,683        25,270
2009         10,512           0           0           0        10,512         41,104       216,787        21,536
2010         10,512           0           0           0        10,512         38,668       255,455        18,339
2011         10,512           0           0           0        10,512         36,346       291,801        15,604
2012         10,512           0           0           0        10,512         34,134       325,935        13,266
2013         10,512           0           0           0        10,512         32,028       357,963        11,267
2014         10,512           0           0           0        10,512         30,020       387,983         9,560
2015         10,512           0           0           0        10,512         28,106       416,089         8,102
2016         10,512           0           0           0        10,512         26,284       442,373         6,858
2017         10,512           0           0           0        10,512         24,547       466,920         5,799

SUBTOT      141,912           0     100,000           0       241,912        466,920                     225,546
REMAIN      158,588           0           0           0       158,588        207,877       674,797        27,934
TOTAL       300,500           0     100,000           0       400,500        674,797                     253,480

  LIFE OF EVALUATION IS 30.09 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 70
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T20S-R16W PROVED
O'SCHULTZ #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937500                                                                       5.00% -             0
FINAL   -   0.937500                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        46,727           0           0
ULTIMATE          46,727           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 71
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T20S-R16W PROVED
OETKIN LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937500  0.794678                         27.29                               5.00% -         2,175
FINAL   -   0.937500  0.794678                         27.29                              10.00% -         2,124
REMARKS -                                                                                 15.00% -         2,076
                                                                                          20.00% -         2,030
                                                                                          25.00% -         1,985	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,641           0           0           1,304           0           0.000      27.29     0.00
2004     2           654           0           0             520           0           0.000      27.29     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          2,295           0           0           1,824           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              2,295           0           0           1,824           0           0.000      27.29     0.00

CUMULATIVE       120,974           0           0
ULTIMATE         123,269           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           35,582           0             0            0        35,582         217           0        35,365
2004           14,188           0             0            0        14,188          87           0        14,101
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        49,770           0             0            0        49,770         304           0        49,466
REMAIN              0           0             0            0             0           0           0             0
TOTAL          49,770           0             0            0        49,770         304           0        49,466	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         33,345           0           0           0        33,345          2,020         2,020         1,940
2004         13,894           0           0           0        13,894            207         2,227           184
2005              0           0           0           0             0              0         2,227             0
2006              0           0           0           0             0              0         2,227             0
2007              0           0           0           0             0              0         2,227             0
2008              0           0           0           0             0              0         2,227             0
2009              0           0           0           0             0              0         2,227             0
2010              0           0           0           0             0              0         2,227             0
2011              0           0           0           0             0              0         2,227             0
2012              0           0           0           0             0              0         2,227             0
2013              0           0           0           0             0              0         2,227             0
2014              0           0           0           0             0              0         2,227             0
2015              0           0           0           0             0              0         2,227             0
2016              0           0           0           0             0              0         2,227             0
2017              0           0           0           0             0              0         2,227             0

SUBTOT       47,239           0           0           0        47,239          2,227                       2,124
REMAIN            0           0           0           0             0              0         2,227             0
TOTAL        47,239           0           0           0        47,239          2,227                       2,124

  LIFE OF EVALUATION IS 1.42 YEARS.
  FINAL PRODUCTION RATE: 130 BBLS/MO	

TENGASCO, INC. TABLE 72
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T20S-R16W PROBABLE
OETKIN #8 PBUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937500  0.794678                         27.29                               5.00% -        39,600
FINAL   -   0.937500  0.794678                         27.29                              10.00% -        20,893
REMARKS -                                                                                 15.00% -         8,495
                                                                                          20.00% -           193
                                                                                          25.00% -        -5,389	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         2,029           0           0           1,612           0           0.000      27.29     0.00
2005     1         1,910           0           0           1,518           0           0.000      27.29     0.00
2006     1         1,536           0           0           1,221           0           0.000      27.29     0.00
2007     1         1,457           0           0           1,158           0           0.000      27.29     0.00
2008     1         1,381           0           0           1,097           0           0.000      27.29     0.00
2009     1         1,309           0           0           1,040           0           0.000      27.29     0.00
2010     1         1,241           0           0             987           0           0.000      27.29     0.00
2011     1         1,176           0           0             934           0           0.000      27.29     0.00
2012     1         1,116           0           0             887           0           0.000      27.29     0.00
2013     1         1,057           0           0             840           0           0.000      27.29     0.00
2014     1         1,003           0           0             797           0           0.000      27.29     0.00
2015     1           950           0           0             755           0           0.000      27.29     0.00
2016     1           901           0           0             716           0           0.000      27.29     0.00
2017     1           854           0           0             678           0           0.000      27.29     0.00

SUB-TOTAL         17,920           0           0          14,240           0           0.000      27.29     0.00
REMAINDER          1,070           0           0             851           0           0.000      27.29     0.00
TOTAL             18,990           0           0          15,091           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          18,990           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           43,992           0             0            0        43,992         268           0        43,724
2005           41,434           0             0            0        41,434         253           0        41,181
2006           33,320           0             0            0        33,320         203           0        33,117
2007           31,587           0             0            0        31,587         193           0        31,394
2008           29,946           0             0            0        29,946         183           0        29,763
2009           28,389           0             0            0        28,389         173           0        28,216
2010           26,913           0             0            0        26,913         164           0        26,749
2011           25,515           0             0            0        25,515         156           0        25,359
2012           24,188           0             0            0        24,188         147           0        24,041
2013           22,931           0             0            0        22,931         140           0        22,791
2014           21,739           0             0            0        21,739         133           0        21,606
2015           20,609           0             0            0        20,609         125           0        20,484
2016           19,538           0             0            0        19,538         120           0        19,418
2017           18,522           0             0            0        18,522         113           0        18,409

SUB-TOT       388,623           0             0            0       388,623       2,371           0       386,252
REMAIN         23,207           0             0            0        23,207         141           0        23,066
TOTAL         411,830           0             0            0       411,830       2,512           0       409,318	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          8,336           0      93,750           0       102,086        -58,362       -58,362       -50,587
2005         16,673           0           0           0        16,673         24,508       -33,854        19,292
2006         16,672           0           0           0        16,672         16,445       -17,409        11,621
2007         16,673           0           0           0        16,673         14,721        -2,688         9,416
2008         16,672           0           0           0        16,672         13,091        10,403         7,581
2009         16,673           0           0           0        16,673         11,543        21,946         6,051
2010         16,672           0           0           0        16,672         10,077        32,023         4,783
2011         16,673           0           0           0        16,673          8,686        40,709         3,732
2012         16,672           0           0           0        16,672          7,369        48,078         2,866
2013         16,673           0           0           0        16,673          6,118        54,196         2,155
2014         16,672           0           0           0        16,672          4,934        59,130         1,573
2015         16,673           0           0           0        16,673          3,811        62,941         1,101
2016         16,672           0           0           0        16,672          2,746        65,687           718
2017         16,673           0           0           0        16,673          1,736        67,423           412

SUBTOT      225,079           0      93,750           0       318,829         67,423                      20,714
REMAIN       22,230           0           0           0        22,230            836        68,259           179
TOTAL       247,309           0      93,750           0       341,059         68,259                      20,893

  LIFE OF EVALUATION IS 16.33 YEARS.
  FINAL PRODUCTION RATE: 65 BBLS/MO	

TENGASCO, INC. TABLE 73
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
ANDERSON -A- #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        30,999
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        23,889
REMARKS -                                                                                 15.00% -        19,104
                                                                                          20.00% -        15,762
                                                                                          25.00% -        13,345	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           308           0           0             270           0           0.000      27.29     0.00
2004     1           301           0           0             263           0           0.000      27.29     0.00
2005     1           293           0           0             256           0           0.000      27.29     0.00
2006     1           286           0           0             250           0           0.000      27.29     0.00
2007     1           279           0           0             244           0           0.000      27.29     0.00
2008     1           272           0           0             238           0           0.000      27.29     0.00
2009     1           265           0           0             232           0           0.000      27.29     0.00
2010     1           259           0           0             227           0           0.000      27.29     0.00
2011     1           252           0           0             221           0           0.000      27.29     0.00
2012     1           246           0           0             215           0           0.000      27.29     0.00
2013     1           240           0           0             210           0           0.000      27.29     0.00
2014     1           235           0           0             205           0           0.000      27.29     0.00
2015     1           228           0           0             200           0           0.000      27.29     0.00
2016     1           223           0           0             195           0           0.000      27.29     0.00
2017     1           217           0           0             190           0           0.000      27.29     0.00

SUB-TOTAL          3,904           0           0           3,416           0           0.000      27.29     0.00
REMAINDER             32           0           0              28           0           0.000      27.29     0.00
TOTAL              3,936           0           0           3,444           0           0.000      27.29     0.00

CUMULATIVE        12,670           0           0
ULTIMATE          16,606           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            7,358           0             0            0         7,358          45           0         7,313
2004            7,177           0             0            0         7,177          44           0         7,133
2005            7,000           0             0            0         7,000          42           0         6,958
2006            6,827           0             0            0         6,827          42           0         6,785
2007            6,659           0             0            0         6,659          41           0         6,618
2008            6,496           0             0            0         6,496          39           0         6,457
2009            6,335           0             0            0         6,335          39           0         6,296
2010            6,179           0             0            0         6,179          38           0         6,141
2011            6,027           0             0            0         6,027          36           0         5,991
2012            5,878           0             0            0         5,878          36           0         5,842
2013            5,734           0             0            0         5,734          35           0         5,699
2014            5,592           0             0            0         5,592          34           0         5,558
2015            5,454           0             0            0         5,454          34           0         5,420
2016            5,320           0             0            0         5,320          32           0         5,288
2017            5,190           0             0            0         5,190          32           0         5,158

SUB-TOT        93,226           0             0            0        93,226         569           0        92,657
REMAIN            761           0             0            0           761           4           0           757
TOTAL          93,987           0             0            0        93,987         573           0        93,414	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,396           0           0           0         3,396          3,917         3,917         3,730
2004          3,396           0           0           0         3,396          3,737         7,654         3,221
2005          3,396           0           0           0         3,396          3,562        11,216         2,779
2006          3,396           0           0           0         3,396          3,389        14,605         2,394
2007          3,396           0           0           0         3,396          3,222        17,827         2,060
2008          3,396           0           0           0         3,396          3,061        20,888         1,771
2009          3,396           0           0           0         3,396          2,900        23,788         1,519
2010          3,396           0           0           0         3,396          2,745        26,533         1,302
2011          3,396           0           0           0         3,396          2,595        29,128         1,114
2012          3,396           0           0           0         3,396          2,446        31,574           951
2013          3,396           0           0           0         3,396          2,303        33,877           810
2014          3,396           0           0           0         3,396          2,162        36,039           688
2015          3,396           0           0           0         3,396          2,024        38,063           584
2016          3,396           0           0           0         3,396          1,892        39,955           494
2017          3,396           0           0           0         3,396          1,762        41,717           416

SUBTOT       50,940           0           0           0        50,940         41,717                      23,833
REMAIN          505           0           0           0           505            252        41,969            56
TOTAL        51,445           0           0           0        51,445         41,969                      23,889

  LIFE OF EVALUATION IS 15.15 YEARS.
  FINAL PRODUCTION RATE: 18 BBLS/MO	

TENGASCO, INC. TABLE 74
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
BARDOT #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        25,414           0           0
ULTIMATE          25,414           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 75
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T10S-R17W PROVED
GARVERT -A- #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       293,020
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       191,111
REMARKS -                                                                                 15.00% -       140,322
                                                                                          20.00% -       110,697
                                                                                          25.00% -        91,423	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,098           0           0             961           0           0.000      27.29     0.00
2004     1         1,062           0           0             929           0           0.000      27.29     0.00
2005     1         1,027           0           0             899           0           0.000      27.29     0.00
2006     1           995           0           0             870           0           0.000      27.29     0.00
2007     1           961           0           0             842           0           0.000      27.29     0.00
2008     1           931           0           0             814           0           0.000      27.29     0.00
2009     1           900           0           0             788           0           0.000      27.29     0.00
2010     1           872           0           0             762           0           0.000      27.29     0.00
2011     1           842           0           0             737           0           0.000      27.29     0.00
2012     1           816           0           0             714           0           0.000      27.29     0.00
2013     1           789           0           0             690           0           0.000      27.29     0.00
2014     1           763           0           0             668           0           0.000      27.29     0.00
2015     1           738           0           0             646           0           0.000      27.29     0.00
2016     1           715           0           0             625           0           0.000      27.29     0.00
2017     1           691           0           0             605           0           0.000      27.29     0.00

SUB-TOTAL         13,200           0           0          11,550           0           0.000      27.29     0.00
REMAINDER         10,953           0           0           9,584           0           0.000      27.29     0.00
TOTAL             24,153           0           0          21,134           0           0.000      27.29     0.00

CUMULATIVE        31,198           0           0
ULTIMATE          55,351           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           26,213           0             0            0        26,213         160           0        26,053
2004           25,362           0             0            0        25,362         155           0        25,207
2005           24,537           0             0            0        24,537         149           0        24,388
2006           23,739           0             0            0        23,739         145           0        23,594
2007           22,968           0             0            0        22,968         140           0        22,828
2008           22,222           0             0            0        22,222         136           0        22,086
2009           21,499           0             0            0        21,499         131           0        21,368
2010           20,801           0             0            0        20,801         127           0        20,674
2011           20,125           0             0            0        20,125         123           0        20,002
2012           19,470           0             0            0        19,470         118           0        19,352
2013           18,838           0             0            0        18,838         115           0        18,723
2014           18,226           0             0            0        18,226         111           0        18,115
2015           17,633           0             0            0        17,633         108           0        17,525
2016           17,060           0             0            0        17,060         104           0        16,956
2017           16,506           0             0            0        16,506         101           0        16,405

SUB-TOT       315,199           0             0            0       315,199       1,923           0       313,276
REMAIN        261,550           0             0            0       261,550       1,595           0       259,955
TOTAL         576,749           0             0            0       576,749       3,518           0       573,231	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            744           0           0           0           744         25,309        25,309        24,096
2004            744           0           0           0           744         24,463        49,772        21,083
2005            744           0           0           0           744         23,644        73,416        18,446
2006            744           0           0           0           744         22,850        96,266        16,137
2007            744           0           0           0           744         22,084       118,350        14,117
2008            744           0           0           0           744         21,342       139,692        12,350
2009            744           0           0           0           744         20,624       160,316        10,803
2010            744           0           0           0           744         19,930       180,246         9,451
2011            744           0           0           0           744         19,258       199,504         8,266
2012            744           0           0           0           744         18,608       218,112         7,229
2013            744           0           0           0           744         17,979       236,091         6,324
2014            744           0           0           0           744         17,371       253,462         5,530
2015            744           0           0           0           744         16,781       270,243         4,836
2016            744           0           0           0           744         16,212       286,455         4,230
2017            744           0           0           0           744         15,661       302,116         3,698

SUBTOT       11,160           0           0           0        11,160        302,116                     166,596
REMAIN       17,112           0           0           0        17,112        242,843       544,959        24,515
TOTAL        28,272           0           0           0        28,272        544,959                     191,111

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 27 BBLS/MO	

TENGASCO, INC. TABLE 76
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T10S-R18W PROVED
GARVERT -B- #1 (CNGL-LNSG-PLSN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       147,544
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        95,748
REMARKS -                                                                                 15.00% -        70,051
                                                                                          20.00% -        55,123
                                                                                          25.00% -        45,444	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           592           0           0             518           0           0.000      27.29     0.00
2004     1           576           0           0             504           0           0.000      27.29     0.00
2005     1           560           0           0             490           0           0.000      27.29     0.00
2006     1           545           0           0             477           0           0.000      27.29     0.00
2007     1           530           0           0             464           0           0.000      27.29     0.00
2008     1           516           0           0             451           0           0.000      27.29     0.00
2009     1           502           0           0             439           0           0.000      27.29     0.00
2010     1           488           0           0             427           0           0.000      27.29     0.00
2011     1           475           0           0             416           0           0.000      27.29     0.00
2012     1           462           0           0             405           0           0.000      27.29     0.00
2013     1           450           0           0             393           0           0.000      27.29     0.00
2014     1           437           0           0             383           0           0.000      27.29     0.00
2015     1           426           0           0             372           0           0.000      27.29     0.00
2016     1           414           0           0             363           0           0.000      27.29     0.00
2017     1           403           0           0             352           0           0.000      27.29     0.00

SUB-TOTAL          7,376           0           0           6,454           0           0.000      27.29     0.00
REMAINDER          6,775           0           0           5,928           0           0.000      27.29     0.00
TOTAL             14,151           0           0          12,382           0           0.000      27.29     0.00

CUMULATIVE        46,815           0           0
ULTIMATE          60,966           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           14,132           0             0            0        14,132          86           0        14,046
2004           13,749           0             0            0        13,749          84           0        13,665
2005           13,377           0             0            0        13,377          82           0        13,295
2006           13,014           0             0            0        13,014          79           0        12,935
2007           12,662           0             0            0        12,662          77           0        12,585
2008           12,318           0             0            0        12,318          75           0        12,243
2009           11,985           0             0            0        11,985          74           0        11,911
2010           11,659           0             0            0        11,659          71           0        11,588
2011           11,344           0             0            0        11,344          69           0        11,275
2012           11,036           0             0            0        11,036          67           0        10,969
2013           10,738           0             0            0        10,738          66           0        10,672
2014           10,446           0             0            0        10,446          63           0        10,383
2015           10,163           0             0            0        10,163          62           0        10,101
2016            9,888           0             0            0         9,888          61           0         9,827
2017            9,619           0             0            0         9,619          58           0         9,561

SUB-TOT       176,130           0             0            0       176,130       1,074           0       175,056
REMAIN        161,771           0             0            0       161,771         987           0       160,784
TOTAL         337,901           0             0            0       337,901       2,061           0       335,840	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,572           0           0           0         1,572         12,474        12,474        11,876
2004          1,572           0           0           0         1,572         12,093        24,567        10,422
2005          1,572           0           0           0         1,572         11,723        36,290         9,145
2006          1,572           0           0           0         1,572         11,363        47,653         8,025
2007          1,572           0           0           0         1,572         11,013        58,666         7,040
2008          1,572           0           0           0         1,572         10,671        69,337         6,175
2009          1,572           0           0           0         1,572         10,339        79,676         5,415
2010          1,572           0           0           0         1,572         10,016        89,692         4,749
2011          1,572           0           0           0         1,572          9,703        99,395         4,165
2012          1,572           0           0           0         1,572          9,397       108,792         3,651
2013          1,572           0           0           0         1,572          9,100       117,892         3,200
2014          1,572           0           0           0         1,572          8,811       126,703         2,806
2015          1,572           0           0           0         1,572          8,529       135,232         2,458
2016          1,572           0           0           0         1,572          8,255       143,487         2,153
2017          1,572           0           0           0         1,572          7,989       151,476         1,887

SUBTOT       23,580           0           0           0        23,580        151,476                      83,167
REMAIN       36,156           0           0           0        36,156        124,628       276,104        12,581
TOTAL        59,736           0           0           0        59,736        276,104                      95,748

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 18 BBLS/MO	

TENGASCO, INC. TABLE 77
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
HARRISON -C- LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        64,691
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        52,111
REMARKS -                                                                                 15.00% -        43,235
                                                                                          20.00% -        36,752
                                                                                          25.00% -        31,867	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           760           0           0             665           0           0.000      27.29     0.00
2004     2           723           0           0             632           0           0.000      27.29     0.00
2005     2           686           0           0             601           0           0.000      27.29     0.00
2006     2           652           0           0             570           0           0.000      27.29     0.00
2007     2           619           0           0             542           0           0.000      27.29     0.00
2008     2           588           0           0             515           0           0.000      27.29     0.00
2009     2           559           0           0             489           0           0.000      27.29     0.00
2010     2           531           0           0             464           0           0.000      27.29     0.00
2011     2           505           0           0             442           0           0.000      27.29     0.00
2012     2           479           0           0             419           0           0.000      27.29     0.00
2013     2           455           0           0             398           0           0.000      27.29     0.00
2014     2           433           0           0             379           0           0.000      27.29     0.00
2015     2           410           0           0             359           0           0.000      27.29     0.00
2016     2           391           0           0             342           0           0.000      27.29     0.00
2017     2           371           0           0             324           0           0.000      27.29     0.00

SUB-TOTAL          8,162           0           0           7,141           0           0.000      27.29     0.00
REMAINDER            900           0           0             788           0           0.000      27.29     0.00
TOTAL              9,062           0           0           7,929           0           0.000      27.29     0.00

CUMULATIVE        26,952           0           0
ULTIMATE          36,014           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           18,156           0             0            0        18,156         111           0        18,045
2004           17,248           0             0            0        17,248         105           0        17,143
2005           16,385           0             0            0        16,385         100           0        16,285
2006           15,567           0             0            0        15,567          95           0        15,472
2007           14,788           0             0            0        14,788          90           0        14,698
2008           14,048           0             0            0        14,048          86           0        13,962
2009           13,347           0             0            0        13,347          81           0        13,266
2010           12,678           0             0            0        12,678          78           0        12,600
2011           12,045           0             0            0        12,045          73           0        11,972
2012           11,443           0             0            0        11,443          70           0        11,373
2013           10,871           0             0            0        10,871          66           0        10,805
2014           10,327           0             0            0        10,327          63           0        10,264
2015            9,810           0             0            0         9,810          60           0         9,750
2016            9,321           0             0            0         9,321          57           0         9,264
2017            8,854           0             0            0         8,854          54           0         8,800

SUB-TOT       194,888           0             0            0       194,888       1,189           0       193,699
REMAIN         21,506           0             0            0        21,506         131           0        21,375
TOTAL         216,394           0             0            0       216,394       1,320           0       215,074	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,464           0           0           0         7,464         10,581        10,581        10,078
2004          7,464           0           0           0         7,464          9,679        20,260         8,346
2005          7,464           0           0           0         7,464          8,821        29,081         6,885
2006          7,464           0           0           0         7,464          8,008        37,089         5,658
2007          7,464           0           0           0         7,464          7,234        44,323         4,628
2008          7,464           0           0           0         7,464          6,498        50,821         3,762
2009          7,464           0           0           0         7,464          5,802        56,623         3,041
2010          7,464           0           0           0         7,464          5,136        61,759         2,437
2011          7,464           0           0           0         7,464          4,508        66,267         1,937
2012          7,464           0           0           0         7,464          3,909        70,176         1,520
2013          7,464           0           0           0         7,464          3,341        73,517         1,177
2014          7,464           0           0           0         7,464          2,800        76,317           892
2015          7,464           0           0           0         7,464          2,286        78,603           660
2016          7,464           0           0           0         7,464          1,800        80,403           470
2017          7,464           0           0           0         7,464          1,336        81,739           317

SUBTOT      111,960           0           0           0       111,960         81,739                      51,808
REMAIN       19,904           0           0           0        19,904          1,471        83,210           303
TOTAL       131,864           0           0           0       131,864         83,210                      52,111

  LIFE OF EVALUATION IS 17.67 YEARS.
  FINAL PRODUCTION RATE: 26 BBLS/MO	

TENGASCO, INC. TABLE 78
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T10S-R18W PROVED
JACO LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       462,327
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       337,020
REMARKS -                                                                                 15.00% -       262,887
                                                                                          20.00% -       214,853
                                                                                          25.00% -       181,494	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4         2,869           0           0           2,510           0           0.000      27.29     0.00
2004     4         2,731           0           0           2,390           0           0.000      27.29     0.00
2005     4         2,600           0           0           2,275           0           0.000      27.29     0.00
2006     4         2,475           0           0           2,166           0           0.000      27.29     0.00
2007     4         2,357           0           0           2,062           0           0.000      27.29     0.00
2008     4         2,243           0           0           1,963           0           0.000      27.29     0.00
2009     4         2,136           0           0           1,868           0           0.000      27.29     0.00
2010     4         2,033           0           0           1,779           0           0.000      27.29     0.00
2011     4         1,935           0           0           1,694           0           0.000      27.29     0.00
2012     4         1,843           0           0           1,612           0           0.000      27.29     0.00
2013     4         1,754           0           0           1,535           0           0.000      27.29     0.00
2014     4         1,670           0           0           1,462           0           0.000      27.29     0.00
2015     4         1,590           0           0           1,391           0           0.000      27.29     0.00
2016     4         1,514           0           0           1,324           0           0.000      27.29     0.00
2017     4         1,441           0           0           1,261           0           0.000      27.29     0.00

SUB-TOTAL         31,191           0           0          27,292           0           0.000      27.29     0.00
REMAINDER         17,168           0           0          15,022           0           0.000      27.29     0.00
TOTAL             48,359           0           0          42,314           0           0.000      27.29     0.00

CUMULATIVE       119,712           0           0
ULTIMATE         168,071           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           68,505           0             0            0        68,505         418           0        68,087
2004           65,216           0             0            0        65,216         398           0        64,818
2005           62,087           0             0            0        62,087         378           0        61,709
2006           59,106           0             0            0        59,106         361           0        58,745
2007           56,269           0             0            0        56,269         343           0        55,926
2008           53,568           0             0            0        53,568         327           0        53,241
2009           50,997           0             0            0        50,997         311           0        50,686
2010           48,548           0             0            0        48,548         296           0        48,252
2011           46,219           0             0            0        46,219         282           0        45,937
2012           44,000           0             0            0        44,000         269           0        43,731
2013           41,888           0             0            0        41,888         255           0        41,633
2014           39,878           0             0            0        39,878         243           0        39,635
2015           37,963           0             0            0        37,963         232           0        37,731
2016           36,141           0             0            0        36,141         220           0        35,921
2017           34,407           0             0            0        34,407         210           0        34,197

SUB-TOT       744,792           0             0            0       744,792       4,543           0       740,249
REMAIN        409,960           0             0            0       409,960       2,501           0       407,459
TOTAL       1,154,752           0             0            0     1,154,752       7,044           0     1,147,708	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         13,296           0           0           0        13,296         54,791        54,791        52,177
2004         13,296           0           0           0        13,296         51,522       106,313        44,414
2005         13,296           0           0           0        13,296         48,413       154,726        37,778
2006         13,296           0           0           0        13,296         45,449       200,175        32,104
2007         13,296           0           0           0        13,296         42,630       242,805        27,259
2008         13,296           0           0           0        13,296         39,945       282,750        23,120
2009         13,296           0           0           0        13,296         37,390       320,140        19,591
2010         13,296           0           0           0        13,296         34,956       355,096        16,580
2011         13,296           0           0           0        13,296         32,641       387,737        14,014
2012         13,296           0           0           0        13,296         30,435       418,172        11,828
2013         13,296           0           0           0        13,296         28,337       446,509         9,970
2014         13,296           0           0           0        13,296         26,339       472,848         8,388
2015         13,296           0           0           0        13,296         24,435       497,283         7,044
2016         13,296           0           0           0        13,296         22,625       519,908         5,905
2017         13,296           0           0           0        13,296         20,901       540,809         4,938

SUBTOT      199,440           0           0           0       199,440        540,809                     315,110
REMAIN      248,192           0           0           0       248,192        159,267       700,076        21,910
TOTAL       447,632           0           0           0       447,632        700,076                     337,020

  LIFE OF EVALUATION IS 33.67 YEARS.
  FINAL PRODUCTION RATE: 47 BBLS/MO	

TENGASCO, INC. TABLE 79
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
ROSS LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       199,232
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       154,644
REMARKS -                                                                                 15.00% -       125,330
                                                                                          20.00% -       104,961
                                                                                          25.00% -        90,136	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         1,544           0           0           1,351           0           0.000      27.29     0.00
2004     2         1,443           0           0           1,262           0           0.000      27.29     0.00
2005     2         1,349           0           0           1,181           0           0.000      27.29     0.00
2006     2         1,262           0           0           1,104           0           0.000      27.29     0.00
2007     2         1,180           0           0           1,032           0           0.000      27.29     0.00
2008     2         1,103           0           0             965           0           0.000      27.29     0.00
2009     2         1,031           0           0             903           0           0.000      27.29     0.00
2010     2           964           0           0             844           0           0.000      27.29     0.00
2011     2           902           0           0             789           0           0.000      27.29     0.00
2012     2           843           0           0             737           0           0.000      27.29     0.00
2013     2           788           0           0             690           0           0.000      27.29     0.00
2014     2           737           0           0             645           0           0.000      27.29     0.00
2015     2           689           0           0             603           0           0.000      27.29     0.00
2016     2           644           0           0             563           0           0.000      27.29     0.00
2017     2           603           0           0             527           0           0.000      27.29     0.00

SUB-TOTAL         15,082           0           0          13,196           0           0.000      27.29     0.00
REMAINDER          3,959           0           0           3,465           0           0.000      27.29     0.00
TOTAL             19,041           0           0          16,661           0           0.000      27.29     0.00

CUMULATIVE        72,552           0           0
ULTIMATE          91,593           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           36,858           0             0            0        36,858         225           0        36,633
2004           34,462           0             0            0        34,462         210           0        34,252
2005           32,222           0             0            0        32,222         197           0        32,025
2006           30,128           0             0            0        30,128         183           0        29,945
2007           28,170           0             0            0        28,170         172           0        27,998
2008           26,338           0             0            0        26,338         161           0        26,177
2009           24,627           0             0            0        24,627         150           0        24,477
2010           23,025           0             0            0        23,025         141           0        22,884
2011           21,529           0             0            0        21,529         131           0        21,398
2012           20,130           0             0            0        20,130         123           0        20,007
2013           18,821           0             0            0        18,821         114           0        18,707
2014           17,598           0             0            0        17,598         108           0        17,490
2015           16,454           0             0            0        16,454         100           0        16,354
2016           15,385           0             0            0        15,385          94           0        15,291
2017           14,384           0             0            0        14,384          88           0        14,296

SUB-TOT       360,131           0             0            0       360,131       2,197           0       357,934
REMAIN         94,542           0             0            0        94,542         577           0        93,965
TOTAL         454,673           0             0            0       454,673       2,774           0       451,899	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,488           0           0           0         7,488         29,145        29,145        27,760
2004          7,488           0           0           0         7,488         26,764        55,909        23,076
2005          7,488           0           0           0         7,488         24,537        80,446        19,151
2006          7,488           0           0           0         7,488         22,457       102,903        15,866
2007          7,488           0           0           0         7,488         20,510       123,413        13,118
2008          7,488           0           0           0         7,488         18,689       142,102        10,820
2009          7,488           0           0           0         7,488         16,989       159,091         8,904
2010          7,488           0           0           0         7,488         15,396       174,487         7,304
2011          7,488           0           0           0         7,488         13,910       188,397         5,974
2012          7,488           0           0           0         7,488         12,519       200,916         4,867
2013          7,488           0           0           0         7,488         11,219       212,135         3,948
2014          7,488           0           0           0         7,488         10,002       222,137         3,187
2015          7,488           0           0           0         7,488          8,866       231,003         2,557
2016          7,488           0           0           0         7,488          7,803       238,806         2,037
2017          7,488           0           0           0         7,488          6,808       245,614         1,609

SUBTOT      112,320           0           0           0       112,320        245,614                     150,178
REMAIN       68,016           0           0           0        68,016         25,949       271,563         4,466
TOTAL       180,336           0           0           0       180,336        271,563                     154,644

  LIFE OF EVALUATION IS 24.08 YEARS.
  FINAL PRODUCTION RATE: 26 BBLS/MO	

TENGASCO, INC. TABLE 80
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002

PLEASANT FIELD, RUSH COUNTY, KANSAS                                                   GAS LEASE
  TENGASCO, INC. - OPERATOR   10-T16S-R17W                                            PROVED
    BASGALL -C- #4   (DOVER)                                                          PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          13
ULTIMATE               0           0          13	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 81
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T13S-R20W PROVED
HONAS #3 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820310                         27.29                               5.00% -         1,651
FINAL   -   1.000000  0.820310                         27.29                              10.00% -         1,583
REMARKS -                                                                                 15.00% -         1,520
                                                                                          20.00% -         1,461
                                                                                          25.00% -         1,405	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           384           0           0             315           0           0.000      27.29     0.00
2004     1           361           0           0             296           0           0.000      27.29     0.00
2005     1           228           0           0             188           0           0.000      27.29     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL            973           0           0             799           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                973           0           0             799           0           0.000      27.29     0.00

CUMULATIVE        66,108           0           0
ULTIMATE          67,081           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            8,596           0             0            0         8,596          52           0         8,544
2004            8,081           0             0            0         8,081          50           0         8,031
2005            5,116           0             0            0         5,116          31           0         5,085
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        21,793           0             0            0        21,793         133           0        21,660
REMAIN              0           0             0            0             0           0           0             0
TOTAL          21,793           0             0            0        21,793         133           0        21,660	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,476           0           0           0         7,476          1,068         1,068         1,021
2004          7,476           0           0           0         7,476            555         1,623           481
2005          4,984           0           0           0         4,984            101         1,724            81
2006              0           0           0           0             0              0         1,724             0
2007              0           0           0           0             0              0         1,724             0
2008              0           0           0           0             0              0         1,724             0
2009              0           0           0           0             0              0         1,724             0
2010              0           0           0           0             0              0         1,724             0
2011              0           0           0           0             0              0         1,724             0
2012              0           0           0           0             0              0         1,724             0
2013              0           0           0           0             0              0         1,724             0
2014              0           0           0           0             0              0         1,724             0
2015              0           0           0           0             0              0         1,724             0
2016              0           0           0           0             0              0         1,724             0
2017              0           0           0           0             0              0         1,724             0

SUBTOT       19,936           0           0           0        19,936          1,724                       1,583
REMAIN            0           0           0           0             0              0         1,724             0
TOTAL        19,936           0           0           0        19,936          1,724                       1,583

  LIFE OF EVALUATION IS 2.67 YEARS.
  FINAL PRODUCTION RATE: 28 BBLS/MO	

TENGASCO, INC. TABLE 82
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN -K- #5 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        81,744
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        58,649
REMARKS -                                                                                 15.00% -        45,076
                                                                                          20.00% -        36,414
                                                                                          25.00% -        30,495	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           447           0           0             391           0           0.000      27.29     0.00
2004     1           429           0           0             375           0           0.000      27.29     0.00
2005     1           412           0           0             361           0           0.000      27.29     0.00
2006     1           395           0           0             346           0           0.000      27.29     0.00
2007     1           379           0           0             332           0           0.000      27.29     0.00
2008     1           365           0           0             318           0           0.000      27.29     0.00
2009     1           349           0           0             306           0           0.000      27.29     0.00
2010     1           336           0           0             294           0           0.000      27.29     0.00
2011     1           323           0           0             282           0           0.000      27.29     0.00
2012     1           309           0           0             271           0           0.000      27.29     0.00
2013     1           297           0           0             260           0           0.000      27.29     0.00
2014     1           285           0           0             249           0           0.000      27.29     0.00
2015     1           274           0           0             240           0           0.000      27.29     0.00
2016     1           263           0           0             230           0           0.000      27.29     0.00
2017     1           252           0           0             221           0           0.000      27.29     0.00

SUB-TOTAL          5,115           0           0           4,476           0           0.000      27.29     0.00
REMAINDER          1,940           0           0           1,697           0           0.000      27.29     0.00
TOTAL              7,055           0           0           6,173           0           0.000      27.29     0.00

CUMULATIVE        24,417           0           0
ULTIMATE          31,472           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           10,669           0             0            0        10,669          65           0        10,604
2004           10,243           0             0            0        10,243          63           0        10,180
2005            9,833           0             0            0         9,833          60           0         9,773
2006            9,440           0             0            0         9,440          57           0         9,383
2007            9,062           0             0            0         9,062          55           0         9,007
2008            8,699           0             0            0         8,699          53           0         8,646
2009            8,352           0             0            0         8,352          51           0         8,301
2010            8,018           0             0            0         8,018          49           0         7,969
2011            7,696           0             0            0         7,696          47           0         7,649
2012            7,389           0             0            0         7,389          45           0         7,344
2013            7,094           0             0            0         7,094          44           0         7,050
2014            6,809           0             0            0         6,809          41           0         6,768
2015            6,538           0             0            0         6,538          40           0         6,498
2016            6,275           0             0            0         6,275          38           0         6,237
2017            6,025           0             0            0         6,025          37           0         5,988

SUB-TOT       122,142           0             0            0       122,142         745           0       121,397
REMAIN         46,323           0             0            0        46,323         283           0        46,040
TOTAL         168,465           0             0            0       168,465       1,028           0       167,437	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,740           0           0           0         1,740          8,864         8,864         8,440
2004          1,740           0           0           0         1,740          8,440        17,304         7,275
2005          1,740           0           0           0         1,740          8,033        25,337         6,268
2006          1,740           0           0           0         1,740          7,643        32,980         5,398
2007          1,740           0           0           0         1,740          7,267        40,247         4,646
2008          1,740           0           0           0         1,740          6,906        47,153         3,997
2009          1,740           0           0           0         1,740          6,561        53,714         3,437
2010          1,740           0           0           0         1,740          6,229        59,943         2,954
2011          1,740           0           0           0         1,740          5,909        65,852         2,537
2012          1,740           0           0           0         1,740          5,604        71,456         2,178
2013          1,740           0           0           0         1,740          5,310        76,766         1,868
2014          1,740           0           0           0         1,740          5,028        81,794         1,601
2015          1,740           0           0           0         1,740          4,758        86,552         1,371
2016          1,740           0           0           0         1,740          4,497        91,049         1,173
2017          1,740           0           0           0         1,740          4,248        95,297         1,004

SUBTOT       26,100           0           0           0        26,100         95,297                      54,147
REMAIN       16,461           0           0           0        16,461         29,579       124,876         4,502
TOTAL        42,561           0           0           0        42,561        124,876                      58,649

  LIFE OF EVALUATION IS 24.46 YEARS.
  FINAL PRODUCTION RATE: 14 BBLS/MO	

TENGASCO, INC. TABLE 83
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN -K- #5 BP (DOVER) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       119,225
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        99,520
REMARKS -                                                                                 15.00% -        83,451
                                                                                          20.00% -        70,281
                                                                                          25.00% -        59,434	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          21               0           0          17.074       0.00     4.13
2006     1             0           0          10               0           0           8.099       0.00     4.13
2007     1             0           0           9               0           0           6.821       0.00     4.13
2008     1             0           0           7               0           0           5.745       0.00     4.13
2009     1             0           0           3               0           0           2.530       0.00     4.13
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          50               0           0          40.269       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          50               0           0          40.269       0.00     4.13

CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          50        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        70,515            0        70,515           0       1,255        69,260
2006                0           0        33,448            0        33,448           0         596        32,852
2007                0           0        28,170            0        28,170           0         501        27,669
2008                0           0        23,725            0        23,725           0         422        23,303
2009                0           0        10,447            0        10,447           0         186        10,261
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       166,305            0       166,305           0       2,960       163,345
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       166,305            0       166,305           0       2,960       163,345	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,740           0      12,000           0        13,740         55,520        55,520        43,393
2006          1,740           0           0           0         1,740         31,112        86,632        21,998
2007          1,740           0           0           0         1,740         25,929       112,561        16,595
2008          1,740           0           0           0         1,740         21,563       134,124        12,494
2009            872           0           0           0           872          9,389       143,513         5,040
2010              0           0           0           0             0              0       143,513             0
2011              0           0           0           0             0              0       143,513             0
2012              0           0           0           0             0              0       143,513             0
2013              0           0           0           0             0              0       143,513             0
2014              0           0           0           0             0              0       143,513             0
2015              0           0           0           0             0              0       143,513             0
2016              0           0           0           0             0              0       143,513             0
2017              0           0           0           0             0              0       143,513             0

SUBTOT        7,832           0      12,000           0        19,832        143,513                      99,520
REMAIN            0           0           0           0             0              0       143,513             0
TOTAL         7,832           0      12,000           0        19,832        143,513                      99,520

  LIFE OF EVALUATION IS 6.50 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 84
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #1, 2 & 5 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       310,809
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       234,981
REMARKS -                                                                                 15.00% -       187,311
                                                                                          20.00% -       155,187
                                                                                          25.00% -       132,293	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         2,167           0           0           1,896           0           0.000      27.29     0.00
2004     3         2,041           0           0           1,786           0           0.000      27.29     0.00
2005     3         1,922           0           0           1,682           0           0.000      27.29     0.00
2006     3         1,811           0           0           1,585           0           0.000      27.29     0.00
2007     3         1,706           0           0           1,492           0           0.000      27.29     0.00
2008     3         1,607           0           0           1,407           0           0.000      27.29     0.00
2009     3         1,514           0           0           1,324           0           0.000      27.29     0.00
2010     3         1,426           0           0           1,248           0           0.000      27.29     0.00
2011     3         1,344           0           0           1,175           0           0.000      27.29     0.00
2012     3         1,265           0           0           1,108           0           0.000      27.29     0.00
2013     3         1,192           0           0           1,043           0           0.000      27.29     0.00
2014     3         1,123           0           0             982           0           0.000      27.29     0.00
2015     3         1,058           0           0             926           0           0.000      27.29     0.00
2016     3           996           0           0             872           0           0.000      27.29     0.00
2017     3           939           0           0             821           0           0.000      27.29     0.00

SUB-TOTAL         22,111           0           0          19,347           0           0.000      27.29     0.00
REMAINDER          8,234           0           0           7,205           0           0.000      27.29     0.00
TOTAL             30,345           0           0          26,552           0           0.000      27.29     0.00

CUMULATIVE        79,145           0           0
ULTIMATE         109,490           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           51,736           0             0            0        51,736         316           0        51,420
2004           48,736           0             0            0        48,736         297           0        48,439
2005           45,909           0             0            0        45,909         280           0        45,629
2006           43,246           0             0            0        43,246         264           0        42,982
2007           40,738           0             0            0        40,738         248           0        40,490
2008           38,375           0             0            0        38,375         234           0        38,141
2009           36,150           0             0            0        36,150         221           0        35,929
2010           34,053           0             0            0        34,053         208           0        33,845
2011           32,077           0             0            0        32,077         195           0        31,882
2012           30,217           0             0            0        30,217         185           0        30,032
2013           28,465           0             0            0        28,465         173           0        28,292
2014           26,814           0             0            0        26,814         164           0        26,650
2015           25,258           0             0            0        25,258         154           0        25,104
2016           23,794           0             0            0        23,794         145           0        23,649
2017           22,413           0             0            0        22,413         137           0        22,276

SUB-TOT       527,981           0             0            0       527,981       3,221           0       524,760
REMAIN        196,611           0             0            0       196,611       1,199           0       195,412
TOTAL         724,592           0             0            0       724,592       4,420           0       720,172	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,936           0           0           0         9,936         41,484        41,484        39,509
2004          9,936           0           0           0         9,936         38,503        79,987        33,195
2005          9,936           0           0           0         9,936         35,693       115,680        27,855
2006          9,936           0           0           0         9,936         33,046       148,726        23,346
2007          9,936           0           0           0         9,936         30,554       179,280        19,539
2008          9,936           0           0           0         9,936         28,205       207,485        16,328
2009          9,936           0           0           0         9,936         25,993       233,478        13,621
2010          9,936           0           0           0         9,936         23,909       257,387        11,341
2011          9,936           0           0           0         9,936         21,946       279,333         9,424
2012          9,936           0           0           0         9,936         20,096       299,429         7,811
2013          9,936           0           0           0         9,936         18,356       317,785         6,460
2014          9,936           0           0           0         9,936         16,714       334,499         5,323
2015          9,936           0           0           0         9,936         15,168       349,667         4,374
2016          9,936           0           0           0         9,936         13,713       363,380         3,579
2017          9,936           0           0           0         9,936         12,340       375,720         2,916

SUBTOT      149,040           0           0           0       149,040        375,720                     224,621
REMAIN      129,168           0           0           0       129,168         66,244       441,964        10,360
TOTAL       278,208           0           0           0       278,208        441,964                     234,981

  LIFE OF EVALUATION IS 28.00 YEARS.
  FINAL PRODUCTION RATE: 35 BBLS/MO	

TENGASCO, INC. TABLE 85
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #6 PUD (KSSC-LNSG) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       283,290
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       174,722
REMARKS -                                                                                 15.00% -       113,229
                                                                                          20.00% -        75,836
                                                                                          25.00% -        51,724	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         2,028           0           0           1,775           0           0.000      27.29     0.00
2005     1         2,449           0           0           2,142           0           0.000      27.29     0.00
2006     1         1,657           0           0           1,451           0           0.000      27.29     0.00
2007     1         1,591           0           0           1,391           0           0.000      27.29     0.00
2008     1         1,526           0           0           1,336           0           0.000      27.29     0.00
2009     1         1,465           0           0           1,281           0           0.000      27.29     0.00
2010     1         1,405           0           0           1,230           0           0.000      27.29     0.00
2011     1         1,348           0           0           1,179           0           0.000      27.29     0.00
2012     1         1,294           0           0           1,132           0           0.000      27.29     0.00
2013     1         1,241           0           0           1,086           0           0.000      27.29     0.00
2014     1         1,191           0           0           1,042           0           0.000      27.29     0.00
2015     1         1,143           0           0           1,000           0           0.000      27.29     0.00
2016     1         1,096           0           0             960           0           0.000      27.29     0.00
2017     1         1,052           0           0             920           0           0.000      27.29     0.00

SUB-TOTAL         20,486           0           0          17,925           0           0.000      27.29     0.00
REMAINDER          7,509           0           0           6,570           0           0.000      27.29     0.00
TOTAL             27,995           0           0          24,495           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          27,995           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           48,432           0             0            0        48,432         295           0        48,137
2005           58,464           0             0            0        58,464         357           0        58,107
2006           39,586           0             0            0        39,586         242           0        39,344
2007           37,983           0             0            0        37,983         231           0        37,752
2008           36,444           0             0            0        36,444         223           0        36,221
2009           34,969           0             0            0        34,969         213           0        34,756
2010           33,552           0             0            0        33,552         205           0        33,347
2011           32,194           0             0            0        32,194         196           0        31,998
2012           30,889           0             0            0        30,889         188           0        30,701
2013           29,639           0             0            0        29,639         181           0        29,458
2014           28,438           0             0            0        28,438         174           0        28,264
2015           27,287           0             0            0        27,287         166           0        27,121
2016           26,181           0             0            0        26,181         160           0        26,021
2017           25,121           0             0            0        25,121         153           0        24,968

SUB-TOT       489,179           0             0            0       489,179       2,984           0       486,195
REMAIN        179,296           0             0            0       179,296       1,094           0       178,202
TOTAL         668,475           0             0            0       668,475       4,078           0       664,397	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          1,656           0     100,000           0       101,656        -53,519       -53,519       -46,660
2005          3,312           0           0           0         3,312         54,795         1,276        42,993
2006          3,312           0           0           0         3,312         36,032        37,308        25,448
2007          3,312           0           0           0         3,312         34,440        71,748        22,018
2008          3,312           0           0           0         3,312         32,909       104,657        19,045
2009          3,312           0           0           0         3,312         31,444       136,101        16,473
2010          3,312           0           0           0         3,312         30,035       166,136        14,243
2011          3,312           0           0           0         3,312         28,686       194,822        12,314
2012          3,312           0           0           0         3,312         27,389       222,211        10,642
2013          3,312           0           0           0         3,312         26,146       248,357         9,197
2014          3,312           0           0           0         3,312         24,952       273,309         7,945
2015          3,312           0           0           0         3,312         23,809       297,118         6,862
2016          3,312           0           0           0         3,312         22,709       319,827         5,925
2017          3,312           0           0           0         3,312         21,656       341,483         5,114

SUBTOT       44,712           0     100,000           0       144,712        341,483                     151,559
REMAIN       28,718           0           0           0        28,718        149,484       490,967        23,163
TOTAL        73,430           0     100,000           0       173,430        490,967                     174,722

  LIFE OF EVALUATION IS 23.67 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 86
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #7 PUD (KSSC-LNSG) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       279,778
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       170,426
REMARKS -                                                                                 15.00% -       109,087
                                                                                          20.00% -        72,167
                                                                                          25.00% -        48,621	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         1,102           0           0             964           0           0.000      27.29     0.00
2005     1         2,911           0           0           2,548           0           0.000      27.29     0.00
2006     1         1,713           0           0           1,499           0           0.000      27.29     0.00
2007     1         1,608           0           0           1,406           0           0.000      27.29     0.00
2008     1         1,542           0           0           1,349           0           0.000      27.29     0.00
2009     1         1,479           0           0           1,295           0           0.000      27.29     0.00
2010     1         1,420           0           0           1,242           0           0.000      27.29     0.00
2011     1         1,362           0           0           1,192           0           0.000      27.29     0.00
2012     1         1,307           0           0           1,144           0           0.000      27.29     0.00
2013     1         1,254           0           0           1,097           0           0.000      27.29     0.00
2014     1         1,204           0           0           1,053           0           0.000      27.29     0.00
2015     1         1,154           0           0           1,010           0           0.000      27.29     0.00
2016     1         1,108           0           0             970           0           0.000      27.29     0.00
2017     1         1,063           0           0             930           0           0.000      27.29     0.00

SUB-TOTAL         20,227           0           0          17,699           0           0.000      27.29     0.00
REMAINDER          7,768           0           0           6,796           0           0.000      27.29     0.00
TOTAL             27,995           0           0          24,495           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          27,995           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           26,309           0             0            0        26,309         160           0        26,149
2005           69,525           0             0            0        69,525         425           0        69,100
2006           40,904           0             0            0        40,904         249           0        40,655
2007           38,378           0             0            0        38,378         234           0        38,144
2008           36,823           0             0            0        36,823         225           0        36,598
2009           35,332           0             0            0        35,332         215           0        35,117
2010           33,901           0             0            0        33,901         207           0        33,694
2011           32,528           0             0            0        32,528         199           0        32,329
2012           31,210           0             0            0        31,210         190           0        31,020
2013           29,947           0             0            0        29,947         183           0        29,764
2014           28,733           0             0            0        28,733         175           0        28,558
2015           27,570           0             0            0        27,570         168           0        27,402
2016           26,454           0             0            0        26,454         161           0        26,293
2017           25,382           0             0            0        25,382         155           0        25,227

SUB-TOT       482,996           0             0            0       482,996       2,946           0       480,050
REMAIN        185,479           0             0            0       185,479       1,132           0       184,347
TOTAL         668,475           0             0            0       668,475       4,078           0       664,397	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004            828           0     100,000           0       100,828        -74,679       -74,679       -62,643
2005          3,312           0           0           0         3,312         65,788        -8,891        51,615
2006          3,312           0           0           0         3,312         37,343        28,452        26,401
2007          3,312           0           0           0         3,312         34,832        63,284        22,268
2008          3,312           0           0           0         3,312         33,286        96,570        19,264
2009          3,312           0           0           0         3,312         31,805       128,375        16,661
2010          3,312           0           0           0         3,312         30,382       158,757        14,408
2011          3,312           0           0           0         3,312         29,017       187,774        12,455
2012          3,312           0           0           0         3,312         27,708       215,482        10,767
2013          3,312           0           0           0         3,312         26,452       241,934         9,304
2014          3,312           0           0           0         3,312         25,246       267,180         8,039
2015          3,312           0           0           0         3,312         24,090       291,270         6,943
2016          3,312           0           0           0         3,312         22,981       314,251         5,996
2017          3,312           0           0           0         3,312         21,915       336,166         5,176

SUBTOT       43,884           0     100,000           0       143,884        336,166                     146,654
REMAIN       29,546           0           0           0        29,546        154,801       490,967        23,772
TOTAL        73,430           0     100,000           0       173,430        490,967                     170,426

  LIFE OF EVALUATION IS 23.92 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 87
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 33-T16S-R16W PROVED
ALLEN #1 A&D (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       460,190
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       315,496
REMARKS -                                                                                 15.00% -       239,678
                                                                                          20.00% -       193,797
                                                                                          25.00% -       163,123	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          17               0           0          13.500       0.00     4.13
2004     1             0           0          15               0           0          12.285       0.00     4.13
2005     1             0           0          14               0           0          11.179       0.00     4.13
2006     1             0           0          13               0           0          10.173       0.00     4.13
2007     1             0           0          11               0           0           9.504       0.00     4.13
2008     1             0           0          12               0           0           9.124       0.00     4.13
2009     1             0           0          11               0           0           8.759       0.00     4.13
2010     1             0           0          10               0           0           8.409       0.00     4.13
2011     1             0           0          10               0           0           8.072       0.00     4.13
2012     1             0           0          10               0           0           7.749       0.00     4.13
2013     1             0           0           9               0           0           7.439       0.00     4.13
2014     1             0           0           9               0           0           7.142       0.00     4.13
2015     1             0           0           8               0           0           6.856       0.00     4.13
2016     1             0           0           8               0           0           6.582       0.00     4.13
2017     1             0           0           8               0           0           6.319       0.00     4.13

SUB-TOTAL              0           0         165               0           0         133.092       0.00     4.13
REMAINDER              0           0         115               0           0          92.345       0.00     4.13
TOTAL                  0           0         280               0           0         225.437       0.00     4.13

CUMULATIVE             0           0         181    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         461        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        55,754            0        55,754           0         992        54,762
2004                0           0        50,736            0        50,736           0         904        49,832
2005                0           0        46,171            0        46,171           0         821        45,350
2006                0           0        42,014            0        42,014           0         748        41,266
2007                0           0        39,252            0        39,252           0         699        38,553
2008                0           0        37,682            0        37,682           0         671        37,011
2009                0           0        36,175            0        36,175           0         644        35,531
2010                0           0        34,728            0        34,728           0         618        34,110
2011                0           0        33,338            0        33,338           0         593        32,745
2012                0           0        32,005            0        32,005           0         570        31,435
2013                0           0        30,725            0        30,725           0         547        30,178
2014                0           0        29,496            0        29,496           0         525        28,971
2015                0           0        28,316            0        28,316           0         504        27,812
2016                0           0        27,183            0        27,183           0         484        26,699
2017                0           0        26,096            0        26,096           0         464        25,632

SUB-TOT             0           0       549,671            0       549,671           0       9,784       539,887
REMAIN              0           0       381,385            0       381,385           0       6,789       374,596
TOTAL               0           0       931,056            0       931,056           0      16,573       914,483	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,168           0           0           0         3,168         51,594        51,594        49,148
2004          3,159           0           0           0         3,159         46,673        98,267        40,247
2005          3,151           0           0           0         3,151         42,199       140,466        32,940
2006          3,144           0           0           0         3,144         38,122       178,588        26,937
2007          3,139           0           0           0         3,139         35,414       214,002        22,640
2008          3,137           0           0           0         3,137         33,874       247,876        19,604
2009          3,134           0           0           0         3,134         32,397       280,273        16,971
2010          3,131           0           0           0         3,131         30,979       311,252        14,691
2011          3,129           0           0           0         3,129         29,616       340,868        12,713
2012          3,127           0           0           0         3,127         28,308       369,176        10,999
2013          3,125           0           0           0         3,125         27,053       396,229         9,516
2014          3,123           0           0           0         3,123         25,848       422,077         8,230
2015          3,120           0           0           0         3,120         24,692       446,769         7,117
2016          3,119           0           0           0         3,119         23,580       470,349         6,152
2017          3,116           0           0           0         3,116         22,516       492,865         5,317

SUBTOT       47,022           0           0           0        47,022        492,865                     283,222
REMAIN       71,310           0           0           0        71,310        303,286       796,151        32,274
TOTAL       118,332           0           0           0       118,332        796,151                     315,496

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 88
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
ANDRE #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE           139           0           0
ULTIMATE             139           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 89
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
APPL #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        77,776
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        51,531
REMARKS -                                                                                 15.00% -        38,143
                                                                                          20.00% -        30,221
                                                                                          25.00% -        25,023	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.036       0.00     4.13
2004     1             0           0           2               0           0           1.975       0.00     4.13
2005     1             0           0           2               0           0           1.915       0.00     4.13
2006     1             0           0           3               0           0           1.858       0.00     4.13
2007     1             0           0           2               0           0           1.802       0.00     4.13
2008     1             0           0           2               0           0           1.748       0.00     4.13
2009     1             0           0           2               0           0           1.696       0.00     4.13
2010     1             0           0           2               0           0           1.645       0.00     4.13
2011     1             0           0           2               0           0           1.595       0.00     4.13
2012     1             0           0           2               0           0           1.548       0.00     4.13
2013     1             0           0           2               0           0           1.501       0.00     4.13
2014     1             0           0           2               0           0           1.456       0.00     4.13
2015     1             0           0           2               0           0           1.412       0.00     4.13
2016     1             0           0           1               0           0           1.370       0.00     4.13
2017     1             0           0           2               0           0           1.329       0.00     4.13

SUB-TOTAL              0           0          31               0           0          24.886       0.00     4.13
REMAINDER              0           0          27               0           0          21.643       0.00     4.13
TOTAL                  0           0          58               0           0          46.529       0.00     4.13

CUMULATIVE             0           0         575    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         633        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         8,407            0         8,407           0         150         8,257
2004                0           0         8,155            0         8,155           0         145         8,010
2005                0           0         7,910            0         7,910           0         141         7,769
2006                0           0         7,673            0         7,673           0         136         7,537
2007                0           0         7,443            0         7,443           0         133         7,310
2008                0           0         7,219            0         7,219           0         128         7,091
2009                0           0         7,003            0         7,003           0         125         6,878
2010                0           0         6,792            0         6,792           0         121         6,671
2011                0           0         6,589            0         6,589           0         117         6,472
2012                0           0         6,392            0         6,392           0         114         6,278
2013                0           0         6,199            0         6,199           0         110         6,089
2014                0           0         6,014            0         6,014           0         107         5,907
2015                0           0         5,833            0         5,833           0         104         5,729
2016                0           0         5,658            0         5,658           0         101         5,557
2017                0           0         5,488            0         5,488           0          97         5,391

SUB-TOT             0           0       102,775            0       102,775           0       1,829       100,946
REMAIN              0           0        89,385            0        89,385           0       1,591        87,794
TOTAL               0           0       192,160            0       192,160           0       3,420       188,740	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,274           0           0           0         1,274          6,983         6,983         6,649
2004          1,274           0           0           0         1,274          6,736        13,719         5,805
2005          1,274           0           0           0         1,274          6,495        20,214         5,067
2006          1,273           0           0           0         1,273          6,264        26,478         4,424
2007          1,273           0           0           0         1,273          6,037        32,515         3,859
2008          1,272           0           0           0         1,272          5,819        38,334         3,367
2009          1,272           0           0           0         1,272          5,606        43,940         2,937
2010          1,272           0           0           0         1,272          5,399        49,339         2,560
2011          1,271           0           0           0         1,271          5,201        54,540         2,233
2012          1,271           0           0           0         1,271          5,007        59,547         1,945
2013          1,271           0           0           0         1,271          4,818        64,365         1,695
2014          1,270           0           0           0         1,270          4,637        69,002         1,476
2015          1,270           0           0           0         1,270          4,459        73,461         1,285
2016          1,270           0           0           0         1,270          4,287        77,748         1,118
2017          1,269           0           0           0         1,269          4,122        81,870           974

SUBTOT       19,076           0           0           0        19,076         81,870                      45,394
REMAIN       29,133           0           0           0        29,133         58,661       140,531         6,137
TOTAL        48,209           0           0           0        48,209        140,531                      51,531

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 90
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
APPL #2 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       107,768
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        82,678
REMARKS -                                                                                 15.00% -        66,559
                                                                                          20.00% -        55,538
                                                                                          25.00% -        47,602	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           5               0           0           4.083       0.00     4.13
2004     1             0           0           5               0           0           3.756       0.00     4.13
2005     1             0           0           5               0           0           3.456       0.00     4.13
2006     1             0           0           4               0           0           3.179       0.00     4.13
2007     1             0           0           4               0           0           2.925       0.00     4.13
2008     1             0           0           4               0           0           2.691       0.00     4.13
2009     1             0           0           3               0           0           2.476       0.00     4.13
2010     1             0           0           3               0           0           2.277       0.00     4.13
2011     1             0           0           3               0           0           2.095       0.00     4.13
2012     1             0           0           2               0           0           1.928       0.00     4.13
2013     1             0           0           3               0           0           1.773       0.00     4.13
2014     1             0           0           2               0           0           1.632       0.00     4.13
2015     1             0           0           2               0           0           1.501       0.00     4.13
2016     1             0           0           2               0           0           1.381       0.00     4.13
2017     1             0           0           1               0           0           1.270       0.00     4.13

SUB-TOTAL              0           0          48               0           0          36.423       0.00     4.13
REMAINDER              0           0           9               0           0           6.622       0.00     4.13
TOTAL                  0           0          57               0           0          43.045       0.00     4.13

CUMULATIVE             0           0         455    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         512        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        16,861            0        16,861           0         300        16,561
2004                0           0        15,512            0        15,512           0         276        15,236
2005                0           0        14,272            0        14,272           0         254        14,018
2006                0           0        13,129            0        13,129           0         234        12,895
2007                0           0        12,079            0        12,079           0         215        11,864
2008                0           0        11,113            0        11,113           0         198        10,915
2009                0           0        10,224            0        10,224           0         182        10,042
2010                0           0         9,406            0         9,406           0         167         9,239
2011                0           0         8,654            0         8,654           0         154         8,500
2012                0           0         7,961            0         7,961           0         142         7,819
2013                0           0         7,324            0         7,324           0         130         7,194
2014                0           0         6,738            0         6,738           0         120         6,618
2015                0           0         6,200            0         6,200           0         111         6,089
2016                0           0         5,703            0         5,703           0         101         5,602
2017                0           0         5,247            0         5,247           0          94         5,153

SUB-TOT             0           0       150,423            0       150,423           0       2,678       147,745
REMAIN              0           0        27,348            0        27,348           0         486        26,862
TOTAL               0           0       177,771            0       177,771           0       3,164       174,607	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,135           0           0           0         1,135         15,426        15,426        14,694
2004          1,132           0           0           0         1,132         14,104        29,530        12,161
2005          1,130           0           0           0         1,130         12,888        42,418        10,059
2006          1,128           0           0           0         1,128         11,767        54,185         8,313
2007          1,126           0           0           0         1,126         10,738        64,923         6,868
2008          1,125           0           0           0         1,125          9,790        74,713         5,668
2009          1,122           0           0           0         1,122          8,920        83,633         4,675
2010          1,122           0           0           0         1,122          8,117        91,750         3,850
2011          1,119           0           0           0         1,119          7,381        99,131         3,170
2012          1,119           0           0           0         1,119          6,700       105,831         2,605
2013          1,117           0           0           0         1,117          6,077       111,908         2,138
2014          1,117           0           0           0         1,117          5,501       117,409         1,752
2015          1,115           0           0           0         1,115          4,974       122,383         1,435
2016          1,114           0           0           0         1,114          4,488       126,871         1,171
2017          1,114           0           0           0         1,114          4,039       130,910           954

SUBTOT       16,835           0           0           0        16,835        130,910                      79,513
REMAIN        8,043           0           0           0         8,043         18,819       149,729         3,165
TOTAL        24,878           0           0           0        24,878        149,729                      82,678

  LIFE OF EVALUATION IS 22.24 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 91
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 36-T17S-R17W PROVED
BEAHM #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         282    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         282        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 92
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 15-T17S-R17W PROVED
BIEBER #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -        53,694
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        42,490
REMARKS -                                                                                 15.00% -        34,823
                                                                                          20.00% -        29,352
                                                                                          25.00% -        25,299	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.216       0.00     4.13
2004     1             0           0           4               0           0           3.056       0.00     4.13
2005     1             0           0           4               0           0           2.903       0.00     4.13
2006     1             0           0           4               0           0           2.758       0.00     4.13
2007     1             0           0           3               0           0           2.620       0.00     4.13
2008     1             0           0           4               0           0           2.489       0.00     4.13
2009     1             0           0           3               0           0           2.364       0.00     4.13
2010     1             0           0           3               0           0           2.246       0.00     4.13
2011     1             0           0           3               0           0           2.134       0.00     4.13
2012     1             0           0           2               0           0           2.027       0.00     4.13
2013     1             0           0           3               0           0           1.926       0.00     4.13
2014     1             0           0           2               0           0           1.830       0.00     4.13
2015     1             0           0           2               0           0           1.738       0.00     4.13
2016     1             0           0           3               0           0           1.651       0.00     4.13
2017     1             0           0           2               0           0           1.569       0.00     4.13

SUB-TOTAL              0           0          46               0           0          34.527       0.00     4.13
REMAINDER              0           0           9               0           0           6.643       0.00     4.13
TOTAL                  0           0          55               0           0          41.170       0.00     4.13

CUMULATIVE             0           0          81    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         136        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        13,284            0        13,284           0         236        13,048
2004                0           0        12,620            0        12,620           0         225        12,395
2005                0           0        11,988            0        11,988           0         213        11,775
2006                0           0        11,390            0        11,390           0         203        11,187
2007                0           0        10,820            0        10,820           0         193        10,627
2008                0           0        10,278            0        10,278           0         183        10,095
2009                0           0         9,765            0         9,765           0         174         9,591
2010                0           0         9,277            0         9,277           0         165         9,112
2011                0           0         8,813            0         8,813           0         157         8,656
2012                0           0         8,372            0         8,372           0         149         8,223
2013                0           0         7,954            0         7,954           0         141         7,813
2014                0           0         7,556            0         7,556           0         135         7,421
2015                0           0         7,178            0         7,178           0         127         7,051
2016                0           0         6,819            0         6,819           0         122         6,697
2017                0           0         6,478            0         6,478           0         115         6,363

SUB-TOT             0           0       142,592            0       142,592           0       2,538       140,054
REMAIN              0           0        27,437            0        27,437           0         489        26,948
TOTAL               0           0       170,029            0       170,029           0       3,027       167,002	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,836           0           0           0         4,836          8,212         8,212         7,822
2004          4,835           0           0           0         4,835          7,560        15,772         6,518
2005          4,834           0           0           0         4,834          6,941        22,713         5,417
2006          4,833           0           0           0         4,833          6,354        29,067         4,489
2007          4,832           0           0           0         4,832          5,795        34,862         3,707
2008          4,831           0           0           0         4,831          5,264        40,126         3,047
2009          4,830           0           0           0         4,830          4,761        44,887         2,496
2010          4,829           0           0           0         4,829          4,283        49,170         2,032
2011          4,828           0           0           0         4,828          3,828        52,998         1,644
2012          4,827           0           0           0         4,827          3,396        56,394         1,320
2013          4,827           0           0           0         4,827          2,986        59,380         1,052
2014          4,825           0           0           0         4,825          2,596        61,976           827
2015          4,825           0           0           0         4,825          2,226        64,202           642
2016          4,825           0           0           0         4,825          1,872        66,074           489
2017          4,824           0           0           0         4,824          1,539        67,613           364

SUBTOT       72,441           0           0           0        72,441         67,613                      41,866
REMAIN       23,709           0           0           0        23,709          3,239        70,852           624
TOTAL        96,150           0           0           0        96,150         70,852                      42,490

  LIFE OF EVALUATION IS 19.92 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 93
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 15-T17S-R17W PROVED
BIEBER -A- #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       126,598
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        86,720
REMARKS -                                                                                 15.00% -        65,444
                                                                                          20.00% -        52,471
                                                                                          25.00% -        43,788	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           5               0           0           3.552       0.00     4.13
2004     1             0           0           4               0           0           3.410       0.00     4.13
2005     1             0           0           5               0           0           3.274       0.00     4.13
2006     1             0           0           4               0           0           3.143       0.00     4.13
2007     1             0           0           4               0           0           3.017       0.00     4.13
2008     1             0           0           4               0           0           2.896       0.00     4.13
2009     1             0           0           3               0           0           2.780       0.00     4.13
2010     1             0           0           4               0           0           2.669       0.00     4.13
2011     1             0           0           3               0           0           2.562       0.00     4.13
2012     1             0           0           3               0           0           2.460       0.00     4.13
2013     1             0           0           4               0           0           2.362       0.00     4.13
2014     1             0           0           3               0           0           2.267       0.00     4.13
2015     1             0           0           2               0           0           2.176       0.00     4.13
2016     1             0           0           3               0           0           2.089       0.00     4.13
2017     1             0           0           3               0           0           2.006       0.00     4.13

SUB-TOTAL              0           0          54               0           0          40.663       0.00     4.13
REMAINDER              0           0          39               0           0          29.313       0.00     4.13
TOTAL                  0           0          93               0           0          69.976       0.00     4.13

CUMULATIVE             0           0          80    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         173        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        14,670            0        14,670           0         261        14,409
2004                0           0        14,083            0        14,083           0         251        13,832
2005                0           0        13,520            0        13,520           0         240        13,280
2006                0           0        12,979            0        12,979           0         231        12,748
2007                0           0        12,460            0        12,460           0         222        12,238
2008                0           0        11,961            0        11,961           0         213        11,748
2009                0           0        11,483            0        11,483           0         205        11,278
2010                0           0        11,024            0        11,024           0         196        10,828
2011                0           0        10,583            0        10,583           0         188        10,395
2012                0           0        10,159            0        10,159           0         181         9,978
2013                0           0         9,753            0         9,753           0         174         9,579
2014                0           0         9,363            0         9,363           0         166         9,197
2015                0           0         8,989            0         8,989           0         160         8,829
2016                0           0         8,628            0         8,628           0         154         8,474
2017                0           0         8,284            0         8,284           0         147         8,137

SUB-TOT             0           0       167,939            0       167,939           0       2,989       164,950
REMAIN              0           0       121,064            0       121,064           0       2,155       118,909
TOTAL               0           0       289,003            0       289,003           0       5,144       283,859	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,791           0           0           0         1,791         12,618        12,618        12,015
2004          1,790           0           0           0         1,790         12,042        24,660        10,379
2005          1,788           0           0           0         1,788         11,492        36,152         8,966
2006          1,788           0           0           0         1,788         10,960        47,112         7,741
2007          1,787           0           0           0         1,787         10,451        57,563         6,682
2008          1,786           0           0           0         1,786          9,962        67,525         5,765
2009          1,785           0           0           0         1,785          9,493        77,018         4,973
2010          1,784           0           0           0         1,784          9,044        86,062         4,289
2011          1,783           0           0           0         1,783          8,612        94,674         3,697
2012          1,783           0           0           0         1,783          8,195       102,869         3,185
2013          1,782           0           0           0         1,782          7,797       110,666         2,742
2014          1,781           0           0           0         1,781          7,416       118,082         2,362
2015          1,780           0           0           0         1,780          7,049       125,131         2,031
2016          1,780           0           0           0         1,780          6,694       131,825         1,747
2017          1,779           0           0           0         1,779          6,358       138,183         1,501

SUBTOT       26,767           0           0           0        26,767        138,183                      78,075
REMAIN       40,794           0           0           0        40,794         78,115       216,298         8,645
TOTAL        67,561           0           0           0        67,561        216,298                      86,720

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 94
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 34-T17S-R16W PROVED
BRACK -A- #3 (GRANITE WASH) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -           813
FINAL   -   1.000000                      0.875000                             4.13       10.00% -           775
REMARKS -                                                                                 15.00% -           739
                                                                                          20.00% -           706
                                                                                          25.00% -           675	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           1               0           0           0.478       0.00     4.13
2004     1             0           0           0               0           0           0.430       0.00     4.13
2005     1             0           0           1               0           0           0.387       0.00     4.13
2006     1             0           0           0               0           0           0.052       0.00     4.13
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           2               0           0           1.347       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           2               0           0           1.347       0.00     4.13

CUMULATIVE             0           0          30    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          32        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         1,974            0         1,974           0          35         1,939
2004                0           0         1,777            0         1,777           0          32         1,745
2005                0           0         1,599            0         1,599           0          28         1,571
2006                0           0           216            0           216           0           4           212
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0         5,566            0         5,566           0          99         5,467
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0         5,566            0         5,566           0          99         5,467	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,467           0           0           0         1,467            472           472           451
2004          1,467           0           0           0         1,467            278           750           241
2005          1,467           0           0           0         1,467            104           854            82
2006            210           0           0           0           210              2           856             1
2007              0           0           0           0             0              0           856             0
2008              0           0           0           0             0              0           856             0
2009              0           0           0           0             0              0           856             0
2010              0           0           0           0             0              0           856             0
2011              0           0           0           0             0              0           856             0
2012              0           0           0           0             0              0           856             0
2013              0           0           0           0             0              0           856             0
2014              0           0           0           0             0              0           856             0
2015              0           0           0           0             0              0           856             0
2016              0           0           0           0             0              0           856             0
2017              0           0           0           0             0              0           856             0

SUBTOT        4,611           0           0           0         4,611            856                         775
REMAIN            0           0           0           0             0              0           856             0
TOTAL         4,611           0           0           0         4,611            856                         775

  LIFE OF EVALUATION IS 3.14 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 95
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T16S-R17W PROVED
BREIT #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        49,822
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        32,846
REMARKS -                                                                                 15.00% -        24,236
                                                                                          20.00% -        19,164
                                                                                          25.00% -        15,846	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           1.334       0.00     4.13
2004     1             0           0           1               0           0           1.298       0.00     4.13
2005     1             0           0           2               0           0           1.263       0.00     4.13
2006     1             0           0           1               0           0           1.228       0.00     4.13
2007     1             0           0           2               0           0           1.195       0.00     4.13
2008     1             0           0           1               0           0           1.163       0.00     4.13
2009     1             0           0           2               0           0           1.131       0.00     4.13
2010     1             0           0           1               0           0           1.100       0.00     4.13
2011     1             0           0           1               0           0           1.070       0.00     4.13
2012     1             0           0           2               0           0           1.041       0.00     4.13
2013     1             0           0           1               0           0           1.013       0.00     4.13
2014     1             0           0           1               0           0           0.985       0.00     4.13
2015     1             0           0           1               0           0           0.958       0.00     4.13
2016     1             0           0           2               0           0           0.932       0.00     4.13
2017     1             0           0           1               0           0           0.907       0.00     4.13

SUB-TOTAL              0           0          21               0           0          16.618       0.00     4.13
REMAINDER              0           0          19               0           0          15.233       0.00     4.13
TOTAL                  0           0          40               0           0          31.851       0.00     4.13

CUMULATIVE            23           0          33    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE              23           0          73        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         5,511            0         5,511           0          98         5,413
2004                0           0         5,361            0         5,361           0          96         5,265
2005                0           0         5,215            0         5,215           0          92         5,123
2006                0           0         5,073            0         5,073           0          91         4,982
2007                0           0         4,935            0         4,935           0          87         4,848
2008                0           0         4,801            0         4,801           0          86         4,715
2009                0           0         4,671            0         4,671           0          83         4,588
2010                0           0         4,544            0         4,544           0          81         4,463
2011                0           0         4,420            0         4,420           0          79         4,341
2012                0           0         4,300            0         4,300           0          76         4,224
2013                0           0         4,183            0         4,183           0          75         4,108
2014                0           0         4,069            0         4,069           0          72         3,997
2015                0           0         3,959            0         3,959           0          71         3,888
2016                0           0         3,850            0         3,850           0          68         3,782
2017                0           0         3,747            0         3,747           0          67         3,680

SUB-TOT             0           0        68,639            0        68,639           0       1,222        67,417
REMAIN              0           0        62,913            0        62,913           0       1,120        61,793
TOTAL               0           0       131,552            0       131,552           0       2,342       129,210	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,017           0           0           0         1,017          4,396         4,396         4,185
2004          1,018           0           0           0         1,018          4,247         8,643         3,661
2005          1,017           0           0           0         1,017          4,106        12,749         3,203
2006          1,016           0           0           0         1,016          3,966        16,715         2,801
2007          1,017           0           0           0         1,017          3,831        20,546         2,449
2008          1,016           0           0           0         1,016          3,699        24,245         2,140
2009          1,016           0           0           0         1,016          3,572        27,817         1,871
2010          1,016           0           0           0         1,016          3,447        31,264         1,635
2011          1,015           0           0           0         1,015          3,326        34,590         1,427
2012          1,016           0           0           0         1,016          3,208        37,798         1,247
2013          1,015           0           0           0         1,015          3,093        40,891         1,088
2014          1,015           0           0           0         1,015          2,982        43,873           949
2015          1,015           0           0           0         1,015          2,873        46,746           828
2016          1,014           0           0           0         1,014          2,768        49,514           722
2017          1,015           0           0           0         1,015          2,665        52,179           629

SUBTOT       15,238           0           0           0        15,238         52,179                      28,835
REMAIN       23,280           0           0           0        23,280         38,513        90,692         4,011
TOTAL        38,518           0           0           0        38,518         90,692                      32,846

  LIFE OF EVALUATION IS 37.99 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

                                  TENGASCO, INC.                   TABLE     96
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

REICHEL FIELD, RUSH COUNTY, KANSAS                                    OIL LEASE
  TENGASCO, INC. - OPERATOR   7-T16S-R17W                             PROVED
    BREIT-HOLZMEISTER -B-   (TOPEKA)                                  PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.861328                         27.29                               5.00% -        32,684
FINAL   -   1.000000  0.861328                         27.29                              10.00% -        27,481
REMARKS -                                                                                 15.00% -        23,435
                                                                                          20.00% -        20,251
                                                                                          25.00% -        17,713	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           282           0           0             243           0           0.000      27.29     0.00
2004     1           271           0           0             233           0           0.000      27.29     0.00
2005     1           260           0           0             224           0           0.000      27.29     0.00
2006     1           250           0           0             215           0           0.000      27.29     0.00
2007     1           240           0           0             207           0           0.000      27.29     0.00
2008     1           230           0           0             198           0           0.000      27.29     0.00
2009     1           221           0           0             190           0           0.000      27.29     0.00
2010     1           212           0           0             183           0           0.000      27.29     0.00
2011     1            86           0           0              74           0           0.000      27.29     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          2,052           0           0           1,767           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              2,052           0           0           1,767           0           0.000      27.29     0.00

CUMULATIVE        14,236           0           0
ULTIMATE          16,288           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            6,633           0             0            0         6,633          40           0         6,593
2004            6,368           0             0            0         6,368          39           0         6,329
2005            6,114           0             0            0         6,114          38           0         6,076
2006            5,868           0             0            0         5,868          35           0         5,833
2007            5,634           0             0            0         5,634          35           0         5,599
2008            5,409           0             0            0         5,409          33           0         5,376
2009            5,192           0             0            0         5,192          31           0         5,161
2010            4,985           0             0            0         4,985          31           0         4,954
2011            2,031           0             0            0         2,031          12           0         2,019
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        48,234           0             0            0        48,234         294           0        47,940
REMAIN              0           0             0            0             0           0           0             0
TOTAL          48,234           0             0            0        48,234         294           0        47,940	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,008           0           0           0         1,008          5,585         5,585         5,318
2004          1,008           0           0           0         1,008          5,321        10,906         4,586
2005          1,008           0           0           0         1,008          5,068        15,974         3,955
2006          1,008           0           0           0         1,008          4,825        20,799         3,407
2007          1,008           0           0           0         1,008          4,591        25,390         2,936
2008          1,008           0           0           0         1,008          4,368        29,758         2,528
2009          1,008           0           0           0         1,008          4,153        33,911         2,175
2010          1,008           0           0           0         1,008          3,946        37,857         1,872
2011            423           0           0           0           423          1,596        39,453           704
2012              0           0           0           0             0              0        39,453             0
2013              0           0           0           0             0              0        39,453             0
2014              0           0           0           0             0              0        39,453             0
2015              0           0           0           0             0              0        39,453             0
2016              0           0           0           0             0              0        39,453             0
2017              0           0           0           0             0              0        39,453             0

SUBTOT        8,487           0           0           0         8,487         39,453                      27,481
REMAIN            0           0           0           0             0              0        39,453             0
TOTAL         8,487           0           0           0         8,487         39,453                      27,481

  LIFE OF EVALUATION IS 8.42 YEARS.
  FINAL PRODUCTION RATE: 17 BBLS/MO	

TENGASCO, INC. TABLE 97
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T17S-R16W PROVED
DECKER -A- #1 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.868164                             4.13        5.00% -       354,306
FINAL   -   1.000000                      0.868164                             4.13       10.00% -       248,657
REMARKS -                                                                                 15.00% -       187,575
                                                                                          20.00% -       149,344
                                                                                          25.00% -       123,709	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          12               0           0           9.234       0.00     4.13
2004     1             0           0          11               0           0           8.957       0.00     4.13
2005     1             0           0          11               0           0           8.688       0.00     4.13
2006     1             0           0          10               0           0           8.427       0.00     4.13
2007     1             0           0          10               0           0           8.175       0.00     4.13
2008     1             0           0          10               0           0           7.929       0.00     4.13
2009     1             0           0          10               0           0           7.691       0.00     4.13
2010     1             0           0           9               0           0           7.461       0.00     4.13
2011     1             0           0           9               0           0           7.237       0.00     4.13
2012     1             0           0           9               0           0           7.020       0.00     4.13
2013     1             0           0           9               0           0           6.809       0.00     4.13
2014     1             0           0           8               0           0           6.605       0.00     4.13
2015     1             0           0           8               0           0           6.407       0.00     4.13
2016     1             0           0           8               0           0           6.215       0.00     4.13
2017     1             0           0           7               0           0           6.028       0.00     4.13

SUB-TOTAL              0           0         141               0           0         112.883       0.00     4.13
REMAINDER              0           0          52               0           0          41.498       0.00     4.13
TOTAL                  0           0         193               0           0         154.381       0.00     4.13

CUMULATIVE             0           0         553    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         746        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        38,135            0        38,135           0         679        37,456
2004                0           0        36,992            0        36,992           0         658        36,334
2005                0           0        35,882            0        35,882           0         639        35,243
2006                0           0        34,805            0        34,805           0         619        34,186
2007                0           0        33,761            0        33,761           0         601        33,160
2008                0           0        32,748            0        32,748           0         583        32,165
2009                0           0        31,766            0        31,766           0         566        31,200
2010                0           0        30,813            0        30,813           0         548        30,265
2011                0           0        29,888            0        29,888           0         532        29,356
2012                0           0        28,992            0        28,992           0         516        28,476
2013                0           0        28,122            0        28,122           0         501        27,621
2014                0           0        27,278            0        27,278           0         485        26,793
2015                0           0        26,460            0        26,460           0         471        25,989
2016                0           0        25,666            0        25,666           0         457        25,209
2017                0           0        24,897            0        24,897           0         443        24,454

SUB-TOT             0           0       466,205            0       466,205           0       8,298       457,907
REMAIN              0           0       171,388            0       171,388           0       3,051       168,337
TOTAL               0           0       637,593            0       637,593           0      11,349       626,244	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,210           0           0           0         3,210         34,246        34,246        32,605
2004          3,208           0           0           0         3,208         33,126        67,372        28,549
2005          3,206           0           0           0         3,206         32,037        99,409        24,993
2006          3,204           0           0           0         3,204         30,982       130,391        21,880
2007          3,202           0           0           0         3,202         29,958       160,349        19,151
2008          3,201           0           0           0         3,201         28,964       189,313        16,760
2009          3,199           0           0           0         3,199         28,001       217,314        14,667
2010          3,197           0           0           0         3,197         27,068       244,382        12,835
2011          3,196           0           0           0         3,196         26,160       270,542        11,228
2012          3,194           0           0           0         3,194         25,282       295,824         9,823
2013          3,192           0           0           0         3,192         24,429       320,253         8,592
2014          3,191           0           0           0         3,191         23,602       343,855         7,514
2015          3,190           0           0           0         3,190         22,799       366,654         6,571
2016          3,189           0           0           0         3,189         22,020       388,674         5,744
2017          3,187           0           0           0         3,187         21,267       409,941         5,022

SUBTOT       47,966           0           0           0        47,966        409,941                     225,934
REMAIN       25,008           0           0           0        25,008        143,329       553,270        22,723
TOTAL        72,974           0           0           0        72,974        553,270                     248,657

  LIFE OF EVALUATION IS 22.86 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 98
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 35-T16S-R17W PROVED
EDWARDS #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        54,867
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        44,602
REMARKS -                                                                                 15.00% -        37,352
                                                                                          20.00% -        32,031
                                                                                          25.00% -        27,994	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           2.819       0.00     4.13
2004     1             0           0           3               0           0           2.537       0.00     4.13
2005     1             0           0           2               0           0           2.283       0.00     4.13
2006     1             0           0           3               0           0           2.055       0.00     4.13
2007     1             0           0           2               0           0           1.850       0.00     4.13
2008     1             0           0           2               0           0           1.665       0.00     4.13
2009     1             0           0           2               0           0           1.498       0.00     4.13
2010     1             0           0           2               0           0           1.348       0.00     4.13
2011     1             0           0           1               0           0           1.214       0.00     4.13
2012     1             0           0           2               0           0           1.092       0.00     4.13
2013     1             0           0           1               0           0           0.983       0.00     4.13
2014     1             0           0           1               0           0           0.885       0.00     4.13
2015     1             0           0           1               0           0           0.796       0.00     4.13
2016     1             0           0           1               0           0           0.717       0.00     4.13
2017     1             0           0           1               0           0           0.645       0.00     4.13

SUB-TOTAL              0           0          28               0           0          22.387       0.00     4.13
REMAINDER              0           0           3               0           0           2.254       0.00     4.13
TOTAL                  0           0          31               0           0          24.641       0.00     4.13

CUMULATIVE             0           0          94    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         125        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        11,643            0        11,643           0         207        11,436
2004                0           0        10,478            0        10,478           0         187        10,291
2005                0           0         9,431            0         9,431           0         168         9,263
2006                0           0         8,487            0         8,487           0         151         8,336
2007                0           0         7,639            0         7,639           0         136         7,503
2008                0           0         6,875            0         6,875           0         122         6,753
2009                0           0         6,187            0         6,187           0         110         6,077
2010                0           0         5,569            0         5,569           0          99         5,470
2011                0           0         5,012            0         5,012           0          90         4,922
2012                0           0         4,510            0         4,510           0          80         4,430
2013                0           0         4,060            0         4,060           0          72         3,988
2014                0           0         3,653            0         3,653           0          65         3,588
2015                0           0         3,288            0         3,288           0          59         3,229
2016                0           0         2,960            0         2,960           0          52         2,908
2017                0           0         2,663            0         2,663           0          48         2,615

SUB-TOT             0           0        92,455            0        92,455           0       1,646        90,809
REMAIN              0           0         9,311            0         9,311           0         165         9,146
TOTAL               0           0       101,766            0       101,766           0       1,811        99,955	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,532           0           0           0         1,532          9,904         9,904         9,436
2004          1,530           0           0           0         1,530          8,761        18,665         7,556
2005          1,528           0           0           0         1,528          7,735        26,400         6,039
2006          1,527           0           0           0         1,527          6,809        33,209         4,813
2007          1,525           0           0           0         1,525          5,978        39,187         3,824
2008          1,524           0           0           0         1,524          5,229        44,416         3,029
2009          1,522           0           0           0         1,522          4,555        48,971         2,388
2010          1,522           0           0           0         1,522          3,948        52,919         1,873
2011          1,520           0           0           0         1,520          3,402        56,321         1,462
2012          1,520           0           0           0         1,520          2,910        59,231         1,132
2013          1,519           0           0           0         1,519          2,469        61,700           869
2014          1,518           0           0           0         1,518          2,070        63,770           660
2015          1,518           0           0           0         1,518          1,711        65,481           494
2016          1,517           0           0           0         1,517          1,391        66,872           363
2017          1,517           0           0           0         1,517          1,098        67,970           260

SUBTOT       22,839           0           0           0        22,839         67,970                      44,198
REMAIN        7,071           0           0           0         7,071          2,075        70,045           404
TOTAL        29,910           0           0           0        29,910         70,045                      44,602

  LIFE OF EVALUATION IS 19.67 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 99
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R16W PROVED
ELDER #19 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          56    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          56        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 100
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T17S-R17W PROVED
FOOS #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       175,318
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       127,321
REMARKS -                                                                                 15.00% -        99,164
                                                                                          20.00% -        80,996
                                                                                          25.00% -        68,404	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           8               0           0           6.137       0.00     4.13
2004     1             0           0           8               0           0           5.830       0.00     4.13
2005     1             0           0           7               0           0           5.539       0.00     4.13
2006     1             0           0           7               0           0           5.262       0.00     4.13
2007     1             0           0           7               0           0           4.999       0.00     4.13
2008     1             0           0           6               0           0           4.749       0.00     4.13
2009     1             0           0           6               0           0           4.511       0.00     4.13
2010     1             0           0           6               0           0           4.286       0.00     4.13
2011     1             0           0           5               0           0           4.071       0.00     4.13
2012     1             0           0           5               0           0           3.868       0.00     4.13
2013     1             0           0           5               0           0           3.674       0.00     4.13
2014     1             0           0           5               0           0           3.491       0.00     4.13
2015     1             0           0           4               0           0           3.316       0.00     4.13
2016     1             0           0           4               0           0           3.150       0.00     4.13
2017     1             0           0           4               0           0           2.993       0.00     4.13

SUB-TOTAL              0           0          87               0           0          65.876       0.00     4.13
REMAINDER              0           0          49               0           0          36.738       0.00     4.13
TOTAL                  0           0         136               0           0         102.614       0.00     4.13

CUMULATIVE             0           0         108    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         244        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        25,345            0        25,345           0         451        24,894
2004                0           0        24,079            0        24,079           0         429        23,650
2005                0           0        22,874            0        22,874           0         407        22,467
2006                0           0        21,730            0        21,730           0         387        21,343
2007                0           0        20,644            0        20,644           0         367        20,277
2008                0           0        19,612            0        19,612           0         349        19,263
2009                0           0        18,631            0        18,631           0         332        18,299
2010                0           0        17,700            0        17,700           0         315        17,385
2011                0           0        16,815            0        16,815           0         299        16,516
2012                0           0        15,973            0        15,973           0         285        15,688
2013                0           0        15,176            0        15,176           0         270        14,906
2014                0           0        14,416            0        14,416           0         256        14,160
2015                0           0        13,696            0        13,696           0         244        13,452
2016                0           0        13,011            0        13,011           0         232        12,779
2017                0           0        12,360            0        12,360           0         220        12,140

SUB-TOT             0           0       272,062            0       272,062           0       4,843       267,219
REMAIN              0           0       151,730            0       151,730           0       2,700       149,030
TOTAL               0           0       423,792            0       423,792           0       7,543       416,249	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,234           0           0           0         4,234         20,660        20,660        19,675
2004          4,232           0           0           0         4,232         19,418        40,078        16,739
2005          4,230           0           0           0         4,230         18,237        58,315        14,230
2006          4,228           0           0           0         4,228         17,115        75,430        12,090
2007          4,226           0           0           0         4,226         16,051        91,481        10,263
2008          4,224           0           0           0         4,224         15,039       106,520         8,705
2009          4,222           0           0           0         4,222         14,077       120,597         7,376
2010          4,220           0           0           0         4,220         13,165       133,762         6,244
2011          4,219           0           0           0         4,219         12,297       146,059         5,280
2012          4,217           0           0           0         4,217         11,471       157,530         4,458
2013          4,216           0           0           0         4,216         10,690       168,220         3,761
2014          4,214           0           0           0         4,214          9,946       178,166         3,167
2015          4,213           0           0           0         4,213          9,239       187,405         2,664
2016          4,212           0           0           0         4,212          8,567       195,972         2,236
2017          4,211           0           0           0         4,211          7,929       203,901         1,873

SUBTOT       63,318           0           0           0        63,318        203,901                     118,761
REMAIN       85,084           0           0           0        85,084         63,946       267,847         8,560
TOTAL       148,402           0           0           0       148,402        267,847                     127,321

  LIFE OF EVALUATION IS 35.25 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 101
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 22-T17S-R17W PROVED
FOOS -A- #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -        21,431
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        18,096
REMARKS -                                                                                 15.00% -        15,549
                                                                                          20.00% -        13,567
                                                                                          25.00% -        11,995	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.299       0.00     4.13
2004     1             0           0           3               0           0           2.184       0.00     4.13
2005     1             0           0           3               0           0           2.075       0.00     4.13
2006     1             0           0           2               0           0           1.971       0.00     4.13
2007     1             0           0           3               0           0           1.873       0.00     4.13
2008     1             0           0           2               0           0           1.779       0.00     4.13
2009     1             0           0           2               0           0           1.690       0.00     4.13
2010     1             0           0           3               0           0           1.606       0.00     4.13
2011     1             0           0           2               0           0           1.525       0.00     4.13
2012     1             0           0           1               0           0           1.449       0.00     4.13
2013     1             0           0           2               0           0           1.377       0.00     4.13
2014     1             0           0           2               0           0           1.308       0.00     4.13
2015     1             0           0           1               0           0           0.835       0.00     4.13
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          29               0           0          21.971       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          29               0           0          21.971       0.00     4.13

CUMULATIVE             0           0         446    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         475        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         9,497            0         9,497           0         169         9,328
2004                0           0         9,021            0         9,021           0         161         8,860
2005                0           0         8,571            0         8,571           0         152         8,419
2006                0           0         8,142            0         8,142           0         145         7,997
2007                0           0         7,735            0         7,735           0         138         7,597
2008                0           0         7,348            0         7,348           0         131         7,217
2009                0           0         6,981            0         6,981           0         124         6,857
2010                0           0         6,632            0         6,632           0         118         6,514
2011                0           0         6,300            0         6,300           0         112         6,188
2012                0           0         5,985            0         5,985           0         107         5,878
2013                0           0         5,686            0         5,686           0         101         5,585
2014                0           0         5,402            0         5,402           0          96         5,306
2015                0           0         3,450            0         3,450           0          61         3,389
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        90,750            0        90,750           0       1,615        89,135
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        90,750            0        90,750           0       1,615        89,135	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,997           0           0           0         4,997          4,331         4,331         4,126
2004          4,997           0           0           0         4,997          3,863         8,194         3,332
2005          4,996           0           0           0         4,996          3,423        11,617         2,672
2006          4,994           0           0           0         4,994          3,003        14,620         2,123
2007          4,995           0           0           0         4,995          2,602        17,222         1,664
2008          4,993           0           0           0         4,993          2,224        19,446         1,289
2009          4,993           0           0           0         4,993          1,864        21,310           978
2010          4,992           0           0           0         4,992          1,522        22,832           722
2011          4,991           0           0           0         4,991          1,197        24,029           515
2012          4,991           0           0           0         4,991            887        24,916           346
2013          4,991           0           0           0         4,991            594        25,510           209
2014          4,990           0           0           0         4,990            316        25,826           102
2015          3,326           0           0           0         3,326             63        25,889            18
2016              0           0           0           0             0              0        25,889             0
2017              0           0           0           0             0              0        25,889             0

SUBTOT       63,246           0           0           0        63,246         25,889                      18,096
REMAIN            0           0           0           0             0              0        25,889             0
TOTAL        63,246           0           0           0        63,246         25,889                      18,096

  LIFE OF EVALUATION IS 12.67 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 102
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 4-T17S-R17W PROVED
FRYE #2 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -         1,392
FINAL   -   1.000000                      0.875000                             4.13       10.00% -         1,252
REMARKS -                                                                                 15.00% -         1,133
                                                                                          20.00% -         1,032
                                                                                          25.00% -           946	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           0               0           0           0.238       0.00     4.13
2004     1             0           0           1               0           0           0.219       0.00     4.13
2005     1             0           0           0               0           0           0.202       0.00     4.13
2006     1             0           0           0               0           0           0.186       0.00     4.13
2007     1             0           0           0               0           0           0.171       0.00     4.13
2008     1             0           0           0               0           0           0.157       0.00     4.13
2009     1             0           0           1               0           0           0.145       0.00     4.13
2010     1             0           0           0               0           0           0.068       0.00     4.13
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           2               0           0           1.386       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           2               0           0           1.386       0.00     4.13

CUMULATIVE             0           0          13    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          15        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0           985            0           985           0          18           967
2004                0           0           905            0           905           0          16           889
2005                0           0           834            0           834           0          14           820
2006                0           0           766            0           766           0          14           752
2007                0           0           705            0           705           0          13           692
2008                0           0           649            0           649           0          11           638
2009                0           0           597            0           597           0          11           586
2010                0           0           281            0           281           0           5           276
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0         5,722            0         5,722           0         102         5,620
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0         5,722            0         5,722           0         102         5,620	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            542           0           0           0           542            425           425           405
2004            541           0           0           0           541            348           773           301
2005            542           0           0           0           542            278         1,051           217
2006            541           0           0           0           541            211         1,262           149
2007            541           0           0           0           541            151         1,413            97
2008            541           0           0           0           541             97         1,510            56
2009            541           0           0           0           541             45         1,555            24
2010            271           0           0           0           271              5         1,560             3
2011              0           0           0           0             0              0         1,560             0
2012              0           0           0           0             0              0         1,560             0
2013              0           0           0           0             0              0         1,560             0
2014              0           0           0           0             0              0         1,560             0
2015              0           0           0           0             0              0         1,560             0
2016              0           0           0           0             0              0         1,560             0
2017              0           0           0           0             0              0         1,560             0

SUBTOT        4,060           0           0           0         4,060          1,560                       1,252
REMAIN            0           0           0           0             0              0         1,560             0
TOTAL         4,060           0           0           0         4,060          1,560                       1,252

  LIFE OF EVALUATION IS 7.50 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 103
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R16W PROVED
GIESICK #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       219,977
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       187,422
REMARKS -                                                                                 15.00% -       162,460
                                                                                          20.00% -       142,917
                                                                                          25.00% -       127,321	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          19               0           0          15.021       0.00     4.13
2004     1             0           0          16               0           0          13.218       0.00     4.13
2005     1             0           0          15               0           0          11.632       0.00     4.13
2006     1             0           0          12               0           0          10.236       0.00     4.13
2007     1             0           0          11               0           0           9.008       0.00     4.13
2008     1             0           0          10               0           0           7.927       0.00     4.13
2009     1             0           0           9               0           0           6.976       0.00     4.13
2010     1             0           0           8               0           0           6.139       0.00     4.13
2011     1             0           0           6               0           0           5.402       0.00     4.13
2012     1             0           0           6               0           0           4.754       0.00     4.13
2013     1             0           0           5               0           0           4.183       0.00     4.13
2014     1             0           0           5               0           0           3.681       0.00     4.13
2015     1             0           0           4               0           0           3.240       0.00     4.13
2016     1             0           0           2               0           0           1.941       0.00     4.13
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         103.358       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         103.358       0.00     4.13

CUMULATIVE             0           0         880    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0       1,008        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        62,037            0        62,037           0       1,104        60,933
2004                0           0        54,592            0        54,592           0         972        53,620
2005                0           0        48,041            0        48,041           0         855        47,186
2006                0           0        42,276            0        42,276           0         753        41,523
2007                0           0        37,203            0        37,203           0         662        36,541
2008                0           0        32,739            0        32,739           0         583        32,156
2009                0           0        28,810            0        28,810           0         512        28,298
2010                0           0        25,353            0        25,353           0         452        24,901
2011                0           0        22,310            0        22,310           0         397        21,913
2012                0           0        19,633            0        19,633           0         349        19,284
2013                0           0        17,278            0        17,278           0         308        16,970
2014                0           0        15,204            0        15,204           0         270        14,934
2015                0           0        13,379            0        13,379           0         239        13,140
2016                0           0         8,015            0         8,015           0         142         7,873
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       426,870            0       426,870           0       7,598       419,272
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       426,870            0       426,870           0       7,598       419,272	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,458           0           0           0        11,458         49,475        49,475        47,152
2004         11,446           0           0           0        11,446         42,174        91,649        36,386
2005         11,434           0           0           0        11,434         35,752       127,401        27,922
2006         11,425           0           0           0        11,425         30,098       157,499        21,280
2007         11,416           0           0           0        11,416         25,125       182,624        16,082
2008         11,408           0           0           0        11,408         20,748       203,372        12,022
2009         11,401           0           0           0        11,401         16,897       220,269         8,864
2010         11,396           0           0           0        11,396         13,505       233,774         6,414
2011         11,390           0           0           0        11,390         10,523       244,297         4,526
2012         11,385           0           0           0        11,385          7,899       252,196         3,076
2013         11,382           0           0           0        11,382          5,588       257,784         1,971
2014         11,378           0           0           0        11,378          3,556       261,340         1,136
2015         11,375           0           0           0        11,375          1,765       263,105           513
2016          7,582           0           0           0         7,582            291       263,396            78
2017              0           0           0           0             0              0       263,396             0

SUBTOT      155,876           0           0           0       155,876        263,396                     187,422
REMAIN            0           0           0           0             0              0       263,396             0
TOTAL       155,876           0           0           0       155,876        263,396                     187,422

  LIFE OF EVALUATION IS 13.67 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 104
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
GILLIG #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       111,660
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        76,090
REMARKS -                                                                                 15.00% -        57,347
                                                                                          20.00% -        45,982
                                                                                          25.00% -        38,390	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.808       0.00     4.13
2004     1             0           0           4               0           0           2.676       0.00     4.13
2005     1             0           0           3               0           0           2.551       0.00     4.13
2006     1             0           0           3               0           0           2.431       0.00     4.13
2007     1             0           0           3               0           0           2.317       0.00     4.13
2008     1             0           0           3               0           0           2.208       0.00     4.13
2009     1             0           0           2               0           0           2.104       0.00     4.13
2010     1             0           0           3               0           0           2.005       0.00     4.13
2011     1             0           0           2               0           0           1.911       0.00     4.13
2012     1             0           0           2               0           0           1.821       0.00     4.13
2013     1             0           0           3               0           0           1.735       0.00     4.13
2014     1             0           0           2               0           0           1.654       0.00     4.13
2015     1             0           0           2               0           0           1.576       0.00     4.13
2016     1             0           0           1               0           0           1.502       0.00     4.13
2017     1             0           0           2               0           0           1.431       0.00     4.13

SUB-TOTAL              0           0          38               0           0          30.730       0.00     4.13
REMAINDER              0           0          24               0           0          19.432       0.00     4.13
TOTAL                  0           0          62               0           0          50.162       0.00     4.13

CUMULATIVE             0           0         321    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         383        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        11,599            0        11,599           0         206        11,393
2004                0           0        11,053            0        11,053           0         197        10,856
2005                0           0        10,534            0        10,534           0         188        10,346
2006                0           0        10,039            0        10,039           0         178         9,861
2007                0           0         9,568            0         9,568           0         171         9,397
2008                0           0         9,117            0         9,117           0         162         8,955
2009                0           0         8,689            0         8,689           0         155         8,534
2010                0           0         8,281            0         8,281           0         147         8,134
2011                0           0         7,891            0         7,891           0         141         7,750
2012                0           0         7,521            0         7,521           0         133         7,388
2013                0           0         7,167            0         7,167           0         128         7,039
2014                0           0         6,830            0         6,830           0         122         6,708
2015                0           0         6,509            0         6,509           0         115         6,394
2016                0           0         6,203            0         6,203           0         111         6,092
2017                0           0         5,912            0         5,912           0         105         5,807

SUB-TOT             0           0       126,913            0       126,913           0       2,259       124,654
REMAIN              0           0        80,255            0        80,255           0       1,429        78,826
TOTAL               0           0       207,168            0       207,168           0       3,688       203,480	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            272           0           0           0           272         11,121        11,121        10,589
2004            271           0           0           0           271         10,585        21,706         9,124
2005            270           0           0           0           270         10,076        31,782         7,862
2006            269           0           0           0           269          9,592        41,374         6,775
2007            269           0           0           0           269          9,128        50,502         5,836
2008            267           0           0           0           267          8,688        59,190         5,028
2009            267           0           0           0           267          8,267        67,457         4,331
2010            266           0           0           0           266          7,868        75,325         3,731
2011            266           0           0           0           266          7,484        82,809         3,213
2012            265           0           0           0           265          7,123        89,932         2,767
2013            264           0           0           0           264          6,775        96,707         2,384
2014            264           0           0           0           264          6,444       103,151         2,051
2015            263           0           0           0           263          6,131       109,282         1,768
2016            262           0           0           0           262          5,830       115,112         1,521
2017            263           0           0           0           263          5,544       120,656         1,309

SUBTOT        3,998           0           0           0         3,998        120,656                      68,289
REMAIN        5,933           0           0           0         5,933         72,893       193,549         7,801
TOTAL         9,931           0           0           0         9,931        193,549                      76,090

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 105
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 9-T17S-R17W PROVED
GRUMBEIN -A- #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        94,615
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        65,675
REMARKS -                                                                                 15.00% -        49,985
                                                                                          20.00% -        40,303
                                                                                          25.00% -        33,767	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.642       0.00     4.13
2004     1             0           0           3               0           0           2.516       0.00     4.13
2005     1             0           0           3               0           0           2.395       0.00     4.13
2006     1             0           0           3               0           0           2.280       0.00     4.13
2007     1             0           0           3               0           0           2.170       0.00     4.13
2008     1             0           0           2               0           0           2.066       0.00     4.13
2009     1             0           0           3               0           0           1.967       0.00     4.13
2010     1             0           0           2               0           0           1.873       0.00     4.13
2011     1             0           0           2               0           0           1.783       0.00     4.13
2012     1             0           0           3               0           0           1.697       0.00     4.13
2013     1             0           0           2               0           0           1.616       0.00     4.13
2014     1             0           0           1               0           0           1.538       0.00     4.13
2015     1             0           0           2               0           0           1.464       0.00     4.13
2016     1             0           0           2               0           0           1.394       0.00     4.13
2017     1             0           0           2               0           0           1.327       0.00     4.13

SUB-TOTAL              0           0          36               0           0          28.728       0.00     4.13
REMAINDER              0           0          22               0           0          17.831       0.00     4.13
TOTAL                  0           0          58               0           0          46.559       0.00     4.13

CUMULATIVE             0           0         124    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         182        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        10,913            0        10,913           0         194        10,719
2004                0           0        10,390            0        10,390           0         185        10,205
2005                0           0         9,891            0         9,891           0         176         9,715
2006                0           0         9,416            0         9,416           0         168         9,248
2007                0           0         8,964            0         8,964           0         159         8,805
2008                0           0         8,534            0         8,534           0         152         8,382
2009                0           0         8,124            0         8,124           0         145         7,979
2010                0           0         7,734            0         7,734           0         138         7,596
2011                0           0         7,363            0         7,363           0         131         7,232
2012                0           0         7,010            0         7,010           0         124         6,886
2013                0           0         6,673            0         6,673           0         119         6,554
2014                0           0         6,353            0         6,353           0         113         6,240
2015                0           0         6,048            0         6,048           0         108         5,940
2016                0           0         5,757            0         5,757           0         102         5,655
2017                0           0         5,481            0         5,481           0          98         5,383

SUB-TOT             0           0       118,651            0       118,651           0       2,112       116,539
REMAIN              0           0        73,642            0        73,642           0       1,311        72,331
TOTAL               0           0       192,293            0       192,293           0       3,423       188,870	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            811           0           0           0           811          9,908         9,908         9,435
2004            810           0           0           0           810          9,395        19,303         8,098
2005            808           0           0           0           808          8,907        28,210         6,950
2006            809           0           0           0           809          8,439        36,649         5,960
2007            807           0           0           0           807          7,998        44,647         5,114
2008            807           0           0           0           807          7,575        52,222         4,384
2009            806           0           0           0           806          7,173        59,395         3,758
2010            805           0           0           0           805          6,791        66,186         3,221
2011            804           0           0           0           804          6,428        72,614         2,759
2012            804           0           0           0           804          6,082        78,696         2,364
2013            804           0           0           0           804          5,750        84,446         2,022
2014            803           0           0           0           803          5,437        89,883         1,732
2015            802           0           0           0           802          5,138        95,021         1,481
2016            802           0           0           0           802          4,853        99,874         1,266
2017            801           0           0           0           801          4,582       104,456         1,082

SUBTOT       12,083           0           0           0        12,083        104,456                      59,626
REMAIN       18,343           0           0           0        18,343         53,988       158,444         6,049
TOTAL        30,426           0           0           0        30,426        158,444                      65,675

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 106
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -        73,608
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        50,341
REMARKS -                                                                                 15.00% -        37,959
                                                                                          20.00% -        30,421
                                                                                          25.00% -        25,380	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.045       0.00     4.13
2004     1             0           0           2               0           0           1.963       0.00     4.13
2005     1             0           0           3               0           0           1.884       0.00     4.13
2006     1             0           0           2               0           0           1.809       0.00     4.13
2007     1             0           0           3               0           0           1.737       0.00     4.13
2008     1             0           0           2               0           0           1.667       0.00     4.13
2009     1             0           0           2               0           0           1.600       0.00     4.13
2010     1             0           0           2               0           0           1.536       0.00     4.13
2011     1             0           0           2               0           0           1.475       0.00     4.13
2012     1             0           0           2               0           0           1.416       0.00     4.13
2013     1             0           0           2               0           0           1.359       0.00     4.13
2014     1             0           0           1               0           0           1.305       0.00     4.13
2015     1             0           0           2               0           0           1.253       0.00     4.13
2016     1             0           0           1               0           0           1.203       0.00     4.13
2017     1             0           0           2               0           0           1.155       0.00     4.13

SUB-TOTAL              0           0          31               0           0          23.407       0.00     4.13
REMAINDER              0           0          22               0           0          16.873       0.00     4.13
TOTAL                  0           0          53               0           0          40.280       0.00     4.13

CUMULATIVE             0           0         626    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         679        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         8,444            0         8,444           0         150         8,294
2004                0           0         8,106            0         8,106           0         145         7,961
2005                0           0         7,782            0         7,782           0         138         7,644
2006                0           0         7,471            0         7,471           0         133         7,338
2007                0           0         7,172            0         7,172           0         128         7,044
2008                0           0         6,885            0         6,885           0         122         6,763
2009                0           0         6,609            0         6,609           0         118         6,491
2010                0           0         6,345            0         6,345           0         113         6,232
2011                0           0         6,092            0         6,092           0         108         5,984
2012                0           0         5,848            0         5,848           0         104         5,744
2013                0           0         5,613            0         5,613           0         100         5,513
2014                0           0         5,390            0         5,390           0          96         5,294
2015                0           0         5,173            0         5,173           0          92         5,081
2016                0           0         4,967            0         4,967           0          89         4,878
2017                0           0         4,768            0         4,768           0          85         4,683

SUB-TOT             0           0        96,665            0        96,665           0       1,721        94,944
REMAIN              0           0        69,684            0        69,684           0       1,240        68,444
TOTAL               0           0       166,349            0       166,349           0       2,961       163,388	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            987           0           0           0           987          7,307         7,307         6,958
2004            987           0           0           0           987          6,974        14,281         6,011
2005            986           0           0           0           986          6,658        20,939         5,194
2006            986           0           0           0           986          6,352        27,291         4,487
2007            985           0           0           0           985          6,059        33,350         3,873
2008            985           0           0           0           985          5,778        39,128         3,344
2009            984           0           0           0           984          5,507        44,635         2,885
2010            984           0           0           0           984          5,248        49,883         2,489
2011            983           0           0           0           983          5,001        54,884         2,147
2012            982           0           0           0           982          4,762        59,646         1,850
2013            983           0           0           0           983          4,530        64,176         1,593
2014            982           0           0           0           982          4,312        68,488         1,373
2015            981           0           0           0           981          4,100        72,588         1,182
2016            981           0           0           0           981          3,897        76,485         1,017
2017            981           0           0           0           981          3,702        80,187           874

SUBTOT       14,757           0           0           0        14,757         80,187                      45,277
REMAIN       22,483           0           0           0        22,483         45,961       126,148         5,064
TOTAL        37,240           0           0           0        37,240        126,148                      50,341

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 107
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT -A- #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       181,305
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       130,764
REMARKS -                                                                                 15.00% -       101,618
                                                                                          20.00% -        82,952
                                                                                          25.00% -        70,056	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           8               0           0           5.904       0.00     4.13
2004     1             0           0           7               0           0           5.579       0.00     4.13
2005     1             0           0           7               0           0           5.272       0.00     4.13
2006     1             0           0           7               0           0           4.982       0.00     4.13
2007     1             0           0           6               0           0           4.708       0.00     4.13
2008     1             0           0           6               0           0           4.449       0.00     4.13
2009     1             0           0           6               0           0           4.204       0.00     4.13
2010     1             0           0           5               0           0           3.973       0.00     4.13
2011     1             0           0           5               0           0           3.755       0.00     4.13
2012     1             0           0           4               0           0           3.548       0.00     4.13
2013     1             0           0           5               0           0           3.353       0.00     4.13
2014     1             0           0           4               0           0           3.169       0.00     4.13
2015     1             0           0           4               0           0           2.994       0.00     4.13
2016     1             0           0           4               0           0           2.830       0.00     4.13
2017     1             0           0           3               0           0           2.674       0.00     4.13

SUB-TOTAL              0           0          81               0           0          61.394       0.00     4.13
REMAINDER              0           0          45               0           0          33.437       0.00     4.13
TOTAL                  0           0         126               0           0          94.831       0.00     4.13

CUMULATIVE             0           0         501    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         627        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        24,382            0        24,382           0         434        23,948
2004                0           0        23,040            0        23,040           0         410        22,630
2005                0           0        21,774            0        21,774           0         388        21,386
2006                0           0        20,576            0        20,576           0         366        20,210
2007                0           0        19,444            0        19,444           0         346        19,098
2008                0           0        18,375            0        18,375           0         327        18,048
2009                0           0        17,364            0        17,364           0         309        17,055
2010                0           0        16,410            0        16,410           0         292        16,118
2011                0           0        15,506            0        15,506           0         276        15,230
2012                0           0        14,654            0        14,654           0         261        14,393
2013                0           0        13,848            0        13,848           0         247        13,601
2014                0           0        13,086            0        13,086           0         233        12,853
2015                0           0        12,367            0        12,367           0         220        12,147
2016                0           0        11,686            0        11,686           0         208        11,478
2017                0           0        11,044            0        11,044           0         196        10,848

SUB-TOT             0           0       253,556            0       253,556           0       4,513       249,043
REMAIN              0           0       138,094            0       138,094           0       2,458       135,636
TOTAL               0           0       391,650            0       391,650           0       6,971       384,679	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,721           0           0           0         2,721         21,227        21,227        20,215
2004          2,718           0           0           0         2,718         19,912        41,139        17,165
2005          2,716           0           0           0         2,716         18,670        59,809        14,569
2006          2,713           0           0           0         2,713         17,497        77,306        12,360
2007          2,712           0           0           0         2,712         16,386        93,692        10,477
2008          2,709           0           0           0         2,709         15,339       109,031         8,879
2009          2,708           0           0           0         2,708         14,347       123,378         7,517
2010          2,706           0           0           0         2,706         13,412       136,790         6,361
2011          2,704           0           0           0         2,704         12,526       149,316         5,378
2012          2,703           0           0           0         2,703         11,690       161,006         4,544
2013          2,702           0           0           0         2,702         10,899       171,905         3,834
2014          2,700           0           0           0         2,700         10,153       182,058         3,233
2015          2,698           0           0           0         2,698          9,449       191,507         2,724
2016          2,697           0           0           0         2,697          8,781       200,288         2,292
2017          2,697           0           0           0         2,697          8,151       208,439         1,925

SUBTOT       40,604           0           0           0        40,604        208,439                     121,473
REMAIN       61,800           0           0           0        61,800         73,836       282,275         9,291
TOTAL       102,404           0           0           0       102,404        282,275                     130,764

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 108
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT -A- #1BP (TOPEKA) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       121,094
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       104,378
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING.                                  15.00% -        90,262
                                                                                          20.00% -        78,297
                                                                                          25.00% -        68,119	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          12               0           0           9.191       0.00     4.13
2005     1             0           0          17               0           0          12.971       0.00     4.13
2006     1             0           0          11               0           0           8.073       0.00     4.13
2007     1             0           0           7               0           0           5.024       0.00     4.13
2008     1             0           0           3               0           0           2.448       0.00     4.13
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          50               0           0          37.707       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          50               0           0          37.707       0.00     4.13

CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          50        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        37,960            0        37,960           0         676        37,284
2005                0           0        53,572            0        53,572           0         953        52,619
2006                0           0        33,341            0        33,341           0         594        32,747
2007                0           0        20,751            0        20,751           0         369        20,382
2008                0           0        10,111            0        10,111           0         180         9,931
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       155,735            0       155,735           0       2,772       152,963
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       155,735            0       155,735           0       2,772       152,963	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0      12,000           0        12,000         25,284        25,284        21,062
2005              0           0           0           0             0         52,619        77,903        41,199
2006              0           0           0           0             0         32,747       110,650        23,209
2007              0           0           0           0             0         20,382       131,032        13,077
2008              0           0           0           0             0          9,931       140,963         5,831
2009              0           0           0           0             0              0       140,963             0
2010              0           0           0           0             0              0       140,963             0
2011              0           0           0           0             0              0       140,963             0
2012              0           0           0           0             0              0       140,963             0
2013              0           0           0           0             0              0       140,963             0
2014              0           0           0           0             0              0       140,963             0
2015              0           0           0           0             0              0       140,963             0
2016              0           0           0           0             0              0       140,963             0
2017              0           0           0           0             0              0       140,963             0

SUBTOT            0           0      12,000           0        12,000        140,963                     104,378
REMAIN            0           0           0           0             0              0       140,963             0
TOTAL             0           0      12,000           0        12,000        140,963                     104,378

  LIFE OF EVALUATION IS 5.74 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 109
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
HOFFMAN #3 (CHASE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       195,301
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       126,456
REMARKS -                                                                                 15.00% -        92,444
                                                                                          20.00% -        72,729
                                                                                          25.00% -        59,958	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           6               0           0           4.220       0.00     4.13
2004     1             0           0           5               0           0           4.094       0.00     4.13
2005     1             0           0           5               0           0           3.971       0.00     4.13
2006     1             0           0           5               0           0           3.852       0.00     4.13
2007     1             0           0           5               0           0           3.736       0.00     4.13
2008     1             0           0           5               0           0           3.624       0.00     4.13
2009     1             0           0           5               0           0           3.516       0.00     4.13
2010     1             0           0           4               0           0           3.410       0.00     4.13
2011     1             0           0           5               0           0           3.308       0.00     4.13
2012     1             0           0           4               0           0           3.209       0.00     4.13
2013     1             0           0           4               0           0           3.112       0.00     4.13
2014     1             0           0           4               0           0           3.019       0.00     4.13
2015     1             0           0           4               0           0           2.928       0.00     4.13
2016     1             0           0           4               0           0           2.840       0.00     4.13
2017     1             0           0           3               0           0           2.755       0.00     4.13

SUB-TOTAL              0           0          68               0           0          51.594       0.00     4.13
REMAINDER              0           0          60               0           0          44.873       0.00     4.13
TOTAL                  0           0         128               0           0          96.467       0.00     4.13

CUMULATIVE             0           0         177    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         305        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        17,430            0        17,430           0         310        17,120
2004                0           0        16,908            0        16,908           0         301        16,607
2005                0           0        16,400            0        16,400           0         292        16,108
2006                0           0        15,909            0        15,909           0         283        15,626
2007                0           0        15,431            0        15,431           0         275        15,156
2008                0           0        14,968            0        14,968           0         266        14,702
2009                0           0        14,519            0        14,519           0         259        14,260
2010                0           0        14,084            0        14,084           0         251        13,833
2011                0           0        13,661            0        13,661           0         243        13,418
2012                0           0        13,251            0        13,251           0         236        13,015
2013                0           0        12,853            0        12,853           0         228        12,625
2014                0           0        12,469            0        12,469           0         222        12,247
2015                0           0        12,094            0        12,094           0         216        11,878
2016                0           0        11,731            0        11,731           0         208        11,523
2017                0           0        11,379            0        11,379           0         203        11,176

SUB-TOT             0           0       213,087            0       213,087           0       3,793       209,294
REMAIN              0           0       185,323            0       185,323           0       3,299       182,024
TOTAL               0           0       398,410            0       398,410           0       7,092       391,318	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            644           0           0           0           644         16,476        16,476        15,686
2004            643           0           0           0           643         15,964        32,440        13,758
2005            642           0           0           0           642         15,466        47,906        12,066
2006            641           0           0           0           641         14,985        62,891        10,582
2007            640           0           0           0           640         14,516        77,407         9,279
2008            639           0           0           0           639         14,063        91,470         8,138
2009            639           0           0           0           639         13,621       105,091         7,135
2010            638           0           0           0           638         13,195       118,286         6,256
2011            637           0           0           0           637         12,781       131,067         5,486
2012            636           0           0           0           636         12,379       143,446         4,810
2013            636           0           0           0           636         11,989       155,435         4,216
2014            634           0           0           0           634         11,613       167,048         3,697
2015            634           0           0           0           634         11,244       178,292         3,241
2016            634           0           0           0           634         10,889       189,181         2,840
2017            633           0           0           0           633         10,543       199,724         2,490

SUBTOT        9,570           0           0           0         9,570        199,724                     109,680
REMAIN       14,415           0           0           0        14,415        167,609       367,333        16,776
TOTAL        23,985           0           0           0        23,985        367,333                     126,456

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 110
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R17W PROVED
HOLZMEISTER #1 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          87    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          87        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 111
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 27-T16S-R17W PROVED
HOLZMEISTER -A- #1 (KC-LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          21
ULTIMATE               0           0          21	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 112
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T16S-R17W PROVED
HOLZMEISTER -B- #1 (KC-LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          24    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          24        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 113
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
HONDERICK -C- #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        59,878
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        39,523
REMARKS -                                                                                 15.00% -        29,195
                                                                                          20.00% -        23,106
                                                                                          25.00% -        19,118	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           1.522       0.00     4.13
2004     1             0           0           2               0           0           1.476       0.00     4.13
2005     1             0           0           2               0           0           1.432       0.00     4.13
2006     1             0           0           1               0           0           1.389       0.00     4.13
2007     1             0           0           2               0           0           1.347       0.00     4.13
2008     1             0           0           2               0           0           1.307       0.00     4.13
2009     1             0           0           1               0           0           1.268       0.00     4.13
2010     1             0           0           2               0           0           1.230       0.00     4.13
2011     1             0           0           1               0           0           1.193       0.00     4.13
2012     1             0           0           2               0           0           1.157       0.00     4.13
2013     1             0           0           1               0           0           1.122       0.00     4.13
2014     1             0           0           1               0           0           1.088       0.00     4.13
2015     1             0           0           2               0           0           1.056       0.00     4.13
2016     1             0           0           1               0           0           1.024       0.00     4.13
2017     1             0           0           1               0           0           0.993       0.00     4.13

SUB-TOTAL              0           0          23               0           0          18.604       0.00     4.13
REMAINDER              0           0          20               0           0          16.179       0.00     4.13
TOTAL                  0           0          43               0           0          34.783       0.00     4.13

CUMULATIVE             0           0          95    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         138        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         6,285            0         6,285           0         112         6,173
2004                0           0         6,096            0         6,096           0         108         5,988
2005                0           0         5,913            0         5,913           0         106         5,807
2006                0           0         5,736            0         5,736           0         102         5,634
2007                0           0         5,564            0         5,564           0          99         5,465
2008                0           0         5,397            0         5,397           0          96         5,301
2009                0           0         5,235            0         5,235           0          93         5,142
2010                0           0         5,078            0         5,078           0          90         4,988
2011                0           0         4,925            0         4,925           0          88         4,837
2012                0           0         4,778            0         4,778           0          85         4,693
2013                0           0         4,635            0         4,635           0          83         4,552
2014                0           0         4,495            0         4,495           0          80         4,415
2015                0           0         4,361            0         4,361           0          77         4,284
2016                0           0         4,230            0         4,230           0          76         4,154
2017                0           0         4,103            0         4,103           0          73         4,030

SUB-TOT             0           0        76,831            0        76,831           0       1,368        75,463
REMAIN              0           0        66,820            0        66,820           0       1,189        65,631
TOTAL               0           0       143,651            0       143,651           0       2,557       141,094	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            851           0           0           0           851          5,322         5,322         5,067
2004            850           0           0           0           850          5,138        10,460         4,428
2005            850           0           0           0           850          4,957        15,417         3,867
2006            850           0           0           0           850          4,784        20,201         3,379
2007            850           0           0           0           850          4,615        24,816         2,950
2008            849           0           0           0           849          4,452        29,268         2,576
2009            849           0           0           0           849          4,293        33,561         2,249
2010            849           0           0           0           849          4,139        37,700         1,963
2011            848           0           0           0           848          3,989        41,689         1,712
2012            848           0           0           0           848          3,845        45,534         1,494
2013            848           0           0           0           848          3,704        49,238         1,303
2014            848           0           0           0           848          3,567        52,805         1,135
2015            847           0           0           0           847          3,437        56,242           991
2016            848           0           0           0           848          3,306        59,548           862
2017            847           0           0           0           847          3,183        62,731           752

SUBTOT       12,732           0           0           0        12,732         62,731                      34,728
REMAIN       19,434           0           0           0        19,434         46,197       108,928         4,795
TOTAL        32,166           0           0           0        32,166        108,928                      39,523

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 114
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
HOOFER #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         357
ULTIMATE               0           0         357	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 115
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T17S-R16W PROVED
JANSON -A- #2 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          29
ULTIMATE               0           0          29	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC TABLE 116
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 2-T17S-R17W PROVED
KAISER #2 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        74,921
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        54,807
REMARKS -                                                                                 15.00% -        42,911
                                                                                          20.00% -        35,181
                                                                                          25.00% -        29,795	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.583       0.00     4.13
2004     1             0           0           3               0           0           2.436       0.00     4.13
2005     1             0           0           3               0           0           2.297       0.00     4.13
2006     1             0           0           3               0           0           2.166       0.00     4.13
2007     1             0           0           2               0           0           2.042       0.00     4.13
2008     1             0           0           3               0           0           1.926       0.00     4.13
2009     1             0           0           2               0           0           1.816       0.00     4.13
2010     1             0           0           2               0           0           1.713       0.00     4.13
2011     1             0           0           2               0           0           1.615       0.00     4.13
2012     1             0           0           2               0           0           1.523       0.00     4.13
2013     1             0           0           2               0           0           1.436       0.00     4.13
2014     1             0           0           1               0           0           1.354       0.00     4.13
2015     1             0           0           2               0           0           1.277       0.00     4.13
2016     1             0           0           2               0           0           1.204       0.00     4.13
2017     1             0           0           1               0           0           1.136       0.00     4.13

SUB-TOTAL              0           0          33               0           0          26.524       0.00     4.13
REMAINDER              0           0          16               0           0          13.175       0.00     4.13
TOTAL                  0           0          49               0           0          39.699       0.00     4.13

CUMULATIVE             0           0          89    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         138        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        10,667            0        10,667           0         190        10,477
2004                0           0        10,059            0        10,059           0         179         9,880
2005                0           0         9,486            0         9,486           0         169         9,317
2006                0           0         8,945            0         8,945           0         159         8,786
2007                0           0         8,436            0         8,436           0         150         8,286
2008                0           0         7,954            0         7,954           0         142         7,812
2009                0           0         7,501            0         7,501           0         133         7,368
2010                0           0         7,074            0         7,074           0         126         6,948
2011                0           0         6,670            0         6,670           0         119         6,551
2012                0           0         6,290            0         6,290           0         112         6,178
2013                0           0         5,932            0         5,932           0         105         5,827
2014                0           0         5,593            0         5,593           0         100         5,493
2015                0           0         5,275            0         5,275           0          94         5,181
2016                0           0         4,974            0         4,974           0          88         4,886
2017                0           0         4,690            0         4,690           0          84         4,606

SUB-TOT             0           0       109,546            0       109,546           0       1,950       107,596
REMAIN              0           0        54,413            0        54,413           0         968        53,445
TOTAL               0           0       163,959            0       163,959           0       2,918       161,041	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,350           0           0           0         1,350          9,127         9,127         8,692
2004          1,350           0           0           0         1,350          8,530        17,657         7,354
2005          1,348           0           0           0         1,348          7,969        25,626         6,218
2006          1,347           0           0           0         1,347          7,439        33,065         5,255
2007          1,347           0           0           0         1,347          6,939        40,004         4,438
2008          1,345           0           0           0         1,345          6,467        46,471         3,743
2009          1,345           0           0           0         1,345          6,023        52,494         3,156
2010          1,344           0           0           0         1,344          5,604        58,098         2,658
2011          1,344           0           0           0         1,344          5,207        63,305         2,236
2012          1,342           0           0           0         1,342          4,836        68,141         1,879
2013          1,343           0           0           0         1,343          4,484        72,625         1,578
2014          1,341           0           0           0         1,341          4,152        76,777         1,322
2015          1,341           0           0           0         1,341          3,840        80,617         1,107
2016          1,341           0           0           0         1,341          3,545        84,162           925
2017          1,340           0           0           0         1,340          3,266        87,428           772

SUBTOT       20,168           0           0           0        20,168         87,428                      51,333
REMAIN       27,510           0           0           0        27,510         25,935       113,363         3,474
TOTAL        47,678           0           0           0        47,678        113,363                      54,807

  LIFE OF EVALUATION IS 35.58 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 117
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
KAISER -A- #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -         6,316
FINAL   -   1.000000  0.875000                         27.29                              10.00% -         5,952
REMARKS -                                                                                 15.00% -         5,619
                                                                                          20.00% -         5,312
                                                                                          25.00% -         5,029	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           248           0           0             217           0           0.000      27.29     0.00
2004     1           238           0           0             209           0           0.000      27.29     0.00
2005     1           128           0           0             111           0           0.000      27.29     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL            614           0           0             537           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                614           0           0             537           0           0.000      27.29     0.00

CUMULATIVE        14,212           0           0
ULTIMATE          14,826           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            5,912           0             0            0         5,912          36           0         5,876
2004            5,704           0             0            0         5,704          35           0         5,669
2005            3,046           0             0            0         3,046          18           0         3,028
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        14,662           0             0            0        14,662          89           0        14,573
REMAIN              0           0             0            0             0           0           0             0
TOTAL          14,662           0             0            0        14,662          89           0        14,573	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,084           0           0           0         3,084          2,792         2,792         2,659
2004          3,084           0           0           0         3,084          2,585         5,377         2,229
2005          1,693           0           0           0         1,693          1,335         6,712         1,064
2006              0           0           0           0             0              0         6,712             0
2007              0           0           0           0             0              0         6,712             0
2008              0           0           0           0             0              0         6,712             0
2009              0           0           0           0             0              0         6,712             0
2010              0           0           0           0             0              0         6,712             0
2011              0           0           0           0             0              0         6,712             0
2012              0           0           0           0             0              0         6,712             0
2013              0           0           0           0             0              0         6,712             0
2014              0           0           0           0             0              0         6,712             0
2015              0           0           0           0             0              0         6,712             0
2016              0           0           0           0             0              0         6,712             0
2017              0           0           0           0             0              0         6,712             0

SUBTOT        7,861           0           0           0         7,861          6,712                       5,952
REMAIN            0           0           0           0             0              0         6,712             0
TOTAL         7,861           0           0           0         7,861          6,712                       5,952

  LIFE OF EVALUATION IS 2.55 YEARS.
  FINAL PRODUCTION RATE: 19 BBLS/MO	

TENGASCO, INC. TABLE 118
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T17S-R17W PROVED
KLEWENO #1-21 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -        68,282
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        52,654
REMARKS -                                                                                 15.00% -        42,378
                                                                                          20.00% -        35,279
                                                                                          25.00% -        30,155	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.370       0.00     4.13
2004     1             0           0           3               0           0           2.180       0.00     4.13
2005     1             0           0           3               0           0           2.006       0.00     4.13
2006     1             0           0           2               0           0           1.845       0.00     4.13
2007     1             0           0           2               0           0           1.698       0.00     4.13
2008     1             0           0           2               0           0           1.562       0.00     4.13
2009     1             0           0           2               0           0           1.437       0.00     4.13
2010     1             0           0           2               0           0           1.322       0.00     4.13
2011     1             0           0           2               0           0           1.216       0.00     4.13
2012     1             0           0           1               0           0           1.119       0.00     4.13
2013     1             0           0           2               0           0           1.029       0.00     4.13
2014     1             0           0           1               0           0           0.947       0.00     4.13
2015     1             0           0           1               0           0           0.871       0.00     4.13
2016     1             0           0           1               0           0           0.802       0.00     4.13
2017     1             0           0           1               0           0           0.738       0.00     4.13

SUB-TOTAL              0           0          28               0           0          21.142       0.00     4.13
REMAINDER              0           0           3               0           0           1.911       0.00     4.13
TOTAL                  0           0          31               0           0          23.053       0.00     4.13

CUMULATIVE             0           0         313    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         344        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         9,788            0         9,788           0         174         9,614
2004                0           0         9,004            0         9,004           0         161         8,843
2005                0           0         8,285            0         8,285           0         147         8,138
2006                0           0         7,621            0         7,621           0         136         7,485
2007                0           0         7,012            0         7,012           0         124         6,888
2008                0           0         6,451            0         6,451           0         115         6,336
2009                0           0         5,935            0         5,935           0         106         5,829
2010                0           0         5,460            0         5,460           0          97         5,363
2011                0           0         5,023            0         5,023           0          90         4,933
2012                0           0         4,622            0         4,622           0          82         4,540
2013                0           0         4,252            0         4,252           0          75         4,177
2014                0           0         3,911            0         3,911           0          70         3,841
2015                0           0         3,599            0         3,599           0          64         3,535
2016                0           0         3,310            0         3,310           0          59         3,251
2017                0           0         3,046            0         3,046           0          54         2,992

SUB-TOT             0           0        87,319            0        87,319           0       1,554        85,765
REMAIN              0           0         7,893            0         7,893           0         141         7,752
TOTAL               0           0        95,212            0        95,212           0       1,695        93,517	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003             18           0           0           0            18          9,596         9,596         9,140
2004             16           0           0           0            16          8,827        18,423         7,610
2005             16           0           0           0            16          8,122        26,545         6,339
2006             13           0           0           0            13          7,472        34,017         5,279
2007             13           0           0           0            13          6,875        40,892         4,397
2008             12           0           0           0            12          6,324        47,216         3,661
2009             11           0           0           0            11          5,818        53,034         3,049
2010             10           0           0           0            10          5,353        58,387         2,539
2011              9           0           0           0             9          4,924        63,311         2,114
2012              9           0           0           0             9          4,531        67,842         1,762
2013              7           0           0           0             7          4,170        72,012         1,467
2014              7           0           0           0             7          3,834        75,846         1,221
2015              7           0           0           0             7          3,528        79,374         1,017
2016              6           0           0           0             6          3,245        82,619           847
2017              6           0           0           0             6          2,986        85,605           705

SUBTOT          160           0           0           0           160         85,605                      51,147
REMAIN           14           0           0           0            14          7,738        93,343         1,507
TOTAL           174           0           0           0           174         93,343                      52,654

  LIFE OF EVALUATION IS 18.06 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 119
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R17W PROVED
KLEWENO -A- #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        36,840
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        28,261
REMARKS -                                                                                 15.00% -        22,714
                                                                                          20.00% -        18,909
                                                                                          25.00% -        16,167	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           1.686       0.00     4.13
2004     1             0           0           2               0           0           1.593       0.00     4.13
2005     1             0           0           2               0           0           1.506       0.00     4.13
2006     1             0           0           2               0           0           1.423       0.00     4.13
2007     1             0           0           1               0           0           1.345       0.00     4.13
2008     1             0           0           2               0           0           1.271       0.00     4.13
2009     1             0           0           1               0           0           1.201       0.00     4.13
2010     1             0           0           2               0           0           1.135       0.00     4.13
2011     1             0           0           1               0           0           1.072       0.00     4.13
2012     1             0           0           1               0           0           1.013       0.00     4.13
2013     1             0           0           2               0           0           0.958       0.00     4.13
2014     1             0           0           1               0           0           0.905       0.00     4.13
2015     1             0           0           1               0           0           0.855       0.00     4.13
2016     1             0           0           1               0           0           0.808       0.00     4.13
2017     1             0           0           1               0           0           0.764       0.00     4.13

SUB-TOTAL              0           0          22               0           0          17.535       0.00     4.13
REMAINDER              0           0           7               0           0           5.634       0.00     4.13
TOTAL                  0           0          29               0           0          23.169       0.00     4.13

CUMULATIVE             0           0          37    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          66        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         6,963            0         6,963           0         124         6,839
2004                0           0         6,581            0         6,581           0         117         6,464
2005                0           0         6,218            0         6,218           0         111         6,107
2006                0           0         5,876            0         5,876           0         104         5,772
2007                0           0         5,554            0         5,554           0          99         5,455
2008                0           0         5,247            0         5,247           0          94         5,153
2009                0           0         4,959            0         4,959           0          88         4,871
2010                0           0         4,687            0         4,687           0          83         4,604
2011                0           0         4,428            0         4,428           0          79         4,349
2012                0           0         4,185            0         4,185           0          75         4,110
2013                0           0         3,955            0         3,955           0          70         3,885
2014                0           0         3,738            0         3,738           0          67         3,671
2015                0           0         3,531            0         3,531           0          62         3,469
2016                0           0         3,338            0         3,338           0          60         3,278
2017                0           0         3,154            0         3,154           0          56         3,098

SUB-TOT             0           0        72,414            0        72,414           0       1,289        71,125
REMAIN              0           0        23,267            0        23,267           0         414        22,853
TOTAL               0           0        95,681            0        95,681           0       1,703        93,978	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,728           0           0           0         1,728          5,111         5,111         4,868
2004          1,727           0           0           0         1,727          4,737         9,848         4,084
2005          1,727           0           0           0         1,727          4,380        14,228         3,418
2006          1,726           0           0           0         1,726          4,046        18,274         2,858
2007          1,725           0           0           0         1,725          3,730        22,004         2,386
2008          1,725           0           0           0         1,725          3,428        25,432         1,984
2009          1,725           0           0           0         1,725          3,146        28,578         1,649
2010          1,724           0           0           0         1,724          2,880        31,458         1,366
2011          1,724           0           0           0         1,724          2,625        34,083         1,127
2012          1,723           0           0           0         1,723          2,387        36,470           928
2013          1,723           0           0           0         1,723          2,162        38,632           761
2014          1,722           0           0           0         1,722          1,949        40,581           621
2015          1,722           0           0           0         1,722          1,747        42,328           504
2016          1,722           0           0           0         1,722          1,556        43,884           406
2017          1,721           0           0           0         1,721          1,377        45,261           325

SUBTOT       25,864           0           0           0        25,864         45,261                      27,285
REMAIN       17,057           0           0           0        17,057          5,796        51,057           976
TOTAL        42,921           0           0           0        42,921         51,057                      28,261

  LIFE OF EVALUATION IS 24.92 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 120
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 6-T18S-R16W PROVED
KOBER #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        88,526
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        66,974
REMARKS -                                                                                 15.00% -        53,424
                                                                                          20.00% -        44,288
                                                                                          25.00% -        37,774	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.577       0.00     4.13
2004     1             0           0           5               0           0           3.363       0.00     4.13
2005     1             0           0           4               0           0           3.161       0.00     4.13
2006     1             0           0           3               0           0           2.971       0.00     4.13
2007     1             0           0           4               0           0           2.793       0.00     4.13
2008     1             0           0           3               0           0           2.625       0.00     4.13
2009     1             0           0           3               0           0           2.468       0.00     4.13
2010     1             0           0           3               0           0           2.320       0.00     4.13
2011     1             0           0           3               0           0           2.181       0.00     4.13
2012     1             0           0           2               0           0           2.050       0.00     4.13
2013     1             0           0           3               0           0           1.927       0.00     4.13
2014     1             0           0           2               0           0           1.811       0.00     4.13
2015     1             0           0           2               0           0           1.702       0.00     4.13
2016     1             0           0           2               0           0           1.600       0.00     4.13
2017     1             0           0           2               0           0           1.504       0.00     4.13

SUB-TOTAL              0           0          45               0           0          36.053       0.00     4.13
REMAINDER              0           0          16               0           0          13.186       0.00     4.13
TOTAL                  0           0          61               0           0          49.239       0.00     4.13

CUMULATIVE             0           0         115    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         176        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        14,774            0        14,774           0         263        14,511
2004                0           0        13,888            0        13,888           0         247        13,641
2005                0           0        13,054            0        13,054           0         233        12,821
2006                0           0        12,271            0        12,271           0         218        12,053
2007                0           0        11,535            0        11,535           0         205        11,330
2008                0           0        10,842            0        10,842           0         193        10,649
2009                0           0        10,193            0        10,193           0         182        10,011
2010                0           0         9,580            0         9,580           0         170         9,410
2011                0           0         9,006            0         9,006           0         161         8,845
2012                0           0         8,465            0         8,465           0         150         8,315
2013                0           0         7,958            0         7,958           0         142         7,816
2014                0           0         7,480            0         7,480           0         133         7,347
2015                0           0         7,031            0         7,031           0         125         6,906
2016                0           0         6,610            0         6,610           0         118         6,492
2017                0           0         6,213            0         6,213           0         110         6,103

SUB-TOT             0           0       148,900            0       148,900           0       2,650       146,250
REMAIN              0           0        54,458            0        54,458           0         970        53,488
TOTAL               0           0       203,358            0       203,358           0       3,620       199,738	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,629           0           0           0         2,629         11,882        11,882        11,317
2004          2,628           0           0           0         2,628         11,013        22,895         9,494
2005          2,627           0           0           0         2,627         10,194        33,089         7,956
2006          2,625           0           0           0         2,625          9,428        42,517         6,660
2007          2,623           0           0           0         2,623          8,707        51,224         5,569
2008          2,623           0           0           0         2,623          8,026        59,250         4,646
2009          2,621           0           0           0         2,621          7,390        66,640         3,872
2010          2,621           0           0           0         2,621          6,789        73,429         3,221
2011          2,619           0           0           0         2,619          6,226        79,655         2,673
2012          2,619           0           0           0         2,619          5,696        85,351         2,215
2013          2,617           0           0           0         2,617          5,199        90,550         1,829
2014          2,617           0           0           0         2,617          4,730        95,280         1,507
2015          2,616           0           0           0         2,616          4,290        99,570         1,237
2016          2,616           0           0           0         2,616          3,876       103,446         1,011
2017          2,614           0           0           0         2,614          3,489       106,935           825

SUBTOT       39,315           0           0           0        39,315        106,935                      64,032
REMAIN       34,596           0           0           0        34,596         18,892       125,827         2,942
TOTAL        73,911           0           0           0        73,911        125,827                      66,974

  LIFE OF EVALUATION IS 28.25 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 121
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 21-T17S-R17W PROVED
LEBSACK -A- #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         126    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         126        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 122
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #2 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0       2,213
ULTIMATE               0           0       2,213	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 123
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #3 (COTTONWOOD) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       140,292
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       101,428
REMARKS -                                                                                 15.00% -        78,638
                                                                                          20.00% -        63,984
                                                                                          25.00% -        53,871	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           7               0           0           5.422       0.00     4.13
2004     1             0           0           6               0           0           5.211       0.00     4.13
2005     1             0           0           6               0           0           5.007       0.00     4.13
2006     1             0           0           6               0           0           4.812       0.00     4.13
2007     1             0           0           6               0           0           4.624       0.00     4.13
2008     1             0           0           6               0           0           4.444       0.00     4.13
2009     1             0           0           5               0           0           4.271       0.00     4.13
2010     1             0           0           5               0           0           4.104       0.00     4.13
2011     1             0           0           5               0           0           3.944       0.00     4.13
2012     1             0           0           5               0           0           3.790       0.00     4.13
2013     1             0           0           4               0           0           3.642       0.00     4.13
2014     1             0           0           5               0           0           3.500       0.00     4.13
2015     1             0           0           4               0           0           3.364       0.00     4.13
2016     1             0           0           4               0           0           3.233       0.00     4.13
2017     1             0           0           4               0           0           3.107       0.00     4.13

SUB-TOTAL              0           0          78               0           0          62.475       0.00     4.13
REMAINDER              0           0          49               0           0          39.512       0.00     4.13
TOTAL                  0           0         127               0           0         101.987       0.00     4.13

CUMULATIVE             0           0         182    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         309        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        22,393            0        22,393           0         399        21,994
2004                0           0        21,519            0        21,519           0         383        21,136
2005                0           0        20,680            0        20,680           0         368        20,312
2006                0           0        19,874            0        19,874           0         353        19,521
2007                0           0        19,099            0        19,099           0         340        18,759
2008                0           0        18,354            0        18,354           0         327        18,027
2009                0           0        17,637            0        17,637           0         314        17,323
2010                0           0        16,951            0        16,951           0         302        16,649
2011                0           0        16,289            0        16,289           0         290        15,999
2012                0           0        15,653            0        15,653           0         278        15,375
2013                0           0        15,044            0        15,044           0         268        14,776
2014                0           0        14,456            0        14,456           0         257        14,199
2015                0           0        13,893            0        13,893           0         248        13,645
2016                0           0        13,351            0        13,351           0         237        13,114
2017                0           0        12,830            0        12,830           0         229        12,601

SUB-TOT             0           0       258,023            0       258,023           0       4,593       253,430
REMAIN              0           0       163,185            0       163,185           0       2,904       160,281
TOTAL               0           0       421,208            0       421,208           0       7,497       413,711	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,002           0           0           0         6,002         15,992        15,992        15,228
2004          6,001           0           0           0         6,001         15,135        31,127        13,047
2005          6,000           0           0           0         6,000         14,312        45,439        11,167
2006          5,998           0           0           0         5,998         13,523        58,962         9,552
2007          5,997           0           0           0         5,997         12,762        71,724         8,160
2008          5,995           0           0           0         5,995         12,032        83,756         6,964
2009          5,994           0           0           0         5,994         11,329        95,085         5,935
2010          5,993           0           0           0         5,993         10,656       105,741         5,054
2011          5,992           0           0           0         5,992         10,007       115,748         4,296
2012          5,991           0           0           0         5,991          9,384       125,132         3,647
2013          5,990           0           0           0         5,990          8,786       133,918         3,091
2014          5,989           0           0           0         5,989          8,210       142,128         2,615
2015          5,987           0           0           0         5,987          7,658       149,786         2,207
2016          5,987           0           0           0         5,987          7,127       156,913         1,860
2017          5,986           0           0           0         5,986          6,615       163,528         1,563

SUBTOT       89,902           0           0           0        89,902        163,528                      94,386
REMAIN      109,123           0           0           0       109,123         51,158       214,686         7,042
TOTAL       199,025           0           0           0       199,025        214,686                     101,428

  LIFE OF EVALUATION IS 33.25 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 124
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #3 BP (WINFIELD) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       175,853
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       150,324
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING.                                  15.00% -       129,416
                                                                                          20.00% -       112,162
                                                                                          25.00% -        97,816	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          20               0           0          16.097       0.00     4.13
2005     1             0           0          12               0           0          10.051       0.00     4.13
2006     1             0           0          11               0           0           8.218       0.00     4.13
2007     1             0           0           8               0           0           7.046       0.00     4.13
2008     1             0           0           8               0           0           6.041       0.00     4.13
2009     1             0           0           6               0           0           4.876       0.00     4.13
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          65               0           0          52.329       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          65               0           0          52.329       0.00     4.13

CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          65        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        66,479            0        66,479           0       1,183        65,296
2005                0           0        41,510            0        41,510           0         739        40,771
2006                0           0        33,940            0        33,940           0         604        33,336
2007                0           0        29,099            0        29,099           0         518        28,581
2008                0           0        24,949            0        24,949           0         444        24,505
2009                0           0        20,140            0        20,140           0         359        19,781
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       216,117            0       216,117           0       3,847       212,270
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       216,117            0       216,117           0       3,847       212,270	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0       5,000           0         5,000         60,296        60,296        51,987
2005              0           0           0           0             0         40,771       101,067        31,887
2006              0           0           0           0             0         33,336       134,403        23,565
2007              0           0           0           0             0         28,581       162,984        18,289
2008              0           0           0           0             0         24,505       187,489        14,194
2009              0           0           0           0             0         19,781       207,270        10,402
2010              0           0           0           0             0              0       207,270             0
2011              0           0           0           0             0              0       207,270             0
2012              0           0           0           0             0              0       207,270             0
2013              0           0           0           0             0              0       207,270             0
2014              0           0           0           0             0              0       207,270             0
2015              0           0           0           0             0              0       207,270             0
2016              0           0           0           0             0              0       207,270             0
2017              0           0           0           0             0              0       207,270             0

SUBTOT            0           0       5,000           0         5,000        207,270                     150,324
REMAIN            0           0           0           0             0              0       207,270             0
TOTAL             0           0       5,000           0         5,000        207,270                     150,324

  LIFE OF EVALUATION IS 6.94 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 125
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
LIPPERT -B- #1 (PENNSYLVANIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0       1,224
ULTIMATE               0           0       1,224	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 126
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
LIPPERT -B- #2 (PENNSYLVANIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.755625                             4.13        5.00% -        24,052
FINAL   -   1.000000                      0.755625                             4.13       10.00% -        17,695
REMARKS -                                                                                 15.00% -        13,763
                                                                                          20.00% -        11,177
                                                                                          25.00% -         9,382	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           1               0           0           0.677       0.00     4.13
2004     1             0           0           1               0           0           0.643       0.00     4.13
2005     1             0           0           1               0           0           0.611       0.00     4.13
2006     1             0           0           1               0           0           0.580       0.00     4.13
2007     1             0           0           0               0           0           0.551       0.00     4.13
2008     1             0           0           1               0           0           0.524       0.00     4.13
2009     1             0           0           1               0           0           0.497       0.00     4.13
2010     1             0           0           1               0           0           0.473       0.00     4.13
2011     1             0           0           0               0           0           0.449       0.00     4.13
2012     1             0           0           1               0           0           0.426       0.00     4.13
2013     1             0           0           0               0           0           0.405       0.00     4.13
2014     1             0           0           1               0           0           0.385       0.00     4.13
2015     1             0           0           0               0           0           0.366       0.00     4.13
2016     1             0           0           1               0           0           0.347       0.00     4.13
2017     1             0           0           0               0           0           0.330       0.00     4.13

SUB-TOTAL              0           0          10               0           0           7.264       0.00     4.13
REMAINDER              0           0           2               0           0           1.386       0.00     4.13
TOTAL                  0           0          12               0           0           8.650       0.00     4.13

CUMULATIVE             0           0          14    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          26        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         2,795            0         2,795           0          50         2,745
2004                0           0         2,654            0         2,654           0          47         2,607
2005                0           0         2,522            0         2,522           0          45         2,477
2006                0           0         2,396            0         2,396           0          43         2,353
2007                0           0         2,277            0         2,277           0          40         2,237
2008                0           0         2,162            0         2,162           0          39         2,123
2009                0           0         2,054            0         2,054           0          36         2,018
2010                0           0         1,952            0         1,952           0          35         1,917
2011                0           0         1,854            0         1,854           0          33         1,821
2012                0           0         1,761            0         1,761           0          31         1,730
2013                0           0         1,673            0         1,673           0          30         1,643
2014                0           0         1,590            0         1,590           0          28         1,562
2015                0           0         1,510            0         1,510           0          27         1,483
2016                0           0         1,434            0         1,434           0          26         1,408
2017                0           0         1,363            0         1,363           0          24         1,339

SUB-TOT             0           0        29,997            0        29,997           0         534        29,463
REMAIN              0           0         5,723            0         5,723           0         102         5,621
TOTAL               0           0        35,720            0        35,720           0         636        35,084	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              6           0           0           0             6          2,739         2,739         2,608
2004              5           0           0           0             5          2,602         5,341         2,243
2005              5           0           0           0             5          2,472         7,813         1,929
2006              5           0           0           0             5          2,348        10,161         1,658
2007              4           0           0           0             4          2,233        12,394         1,428
2008              4           0           0           0             4          2,119        14,513         1,226
2009              4           0           0           0             4          2,014        16,527         1,055
2010              4           0           0           0             4          1,913        18,440           908
2011              4           0           0           0             4          1,817        20,257           780
2012              4           0           0           0             4          1,726        21,983           670
2013              3           0           0           0             3          1,640        23,623           577
2014              3           0           0           0             3          1,559        25,182           497
2015              3           0           0           0             3          1,480        26,662           426
2016              3           0           0           0             3          1,405        28,067           367
2017              3           0           0           0             3          1,336        29,403           315

SUBTOT           60           0           0           0            60         29,403                      16,687
REMAIN           11           0           0           0            11          5,610        35,013         1,008
TOTAL            71           0           0           0            71         35,013                      17,695

  LIFE OF EVALUATION IS 19.87 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 127
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 32-T16S-R17W PROVED
LIPPERT -C- #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.765625                             4.13        5.00% -        68,793
FINAL   -   1.000000                      0.765625                             4.13       10.00% -        47,386
REMARKS -                                                                                 15.00% -        35,937
                                                                                          20.00% -        28,926
                                                                                          25.00% -        24,212	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           1.804       0.00     4.13
2004     1             0           0           2               0           0           1.714       0.00     4.13
2005     1             0           0           2               0           0           1.628       0.00     4.13
2006     1             0           0           3               0           0           1.547       0.00     4.13
2007     1             0           0           2               0           0           1.470       0.00     4.13
2008     1             0           0           2               0           0           1.396       0.00     4.13
2009     1             0           0           1               0           0           1.326       0.00     4.13
2010     1             0           0           2               0           0           1.260       0.00     4.13
2011     1             0           0           2               0           0           1.197       0.00     4.13
2012     1             0           0           2               0           0           1.137       0.00     4.13
2013     1             0           0           1               0           0           1.080       0.00     4.13
2014     1             0           0           2               0           0           1.026       0.00     4.13
2015     1             0           0           1               0           0           0.975       0.00     4.13
2016     1             0           0           1               0           0           0.926       0.00     4.13
2017     1             0           0           1               0           0           0.880       0.00     4.13

SUB-TOTAL              0           0          27               0           0          19.366       0.00     4.13
REMAINDER              0           0          17               0           0          11.580       0.00     4.13
TOTAL                  0           0          44               0           0          30.946       0.00     4.13

CUMULATIVE             0           0         200    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         244        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         7,452            0         7,452           0         133         7,319
2004                0           0         7,079            0         7,079           0         126         6,953
2005                0           0         6,726            0         6,726           0         119         6,607
2006                0           0         6,389            0         6,389           0         114         6,275
2007                0           0         6,069            0         6,069           0         108         5,961
2008                0           0         5,767            0         5,767           0         103         5,664
2009                0           0         5,477            0         5,477           0          97         5,380
2010                0           0         5,204            0         5,204           0          93         5,111
2011                0           0         4,944            0         4,944           0          88         4,856
2012                0           0         4,697            0         4,697           0          84         4,613
2013                0           0         4,461            0         4,461           0          79         4,382
2014                0           0         4,239            0         4,239           0          75         4,164
2015                0           0         4,027            0         4,027           0          72         3,955
2016                0           0         3,825            0         3,825           0          68         3,757
2017                0           0         3,634            0         3,634           0          65         3,569

SUB-TOT             0           0        79,990            0        79,990           0       1,424        78,566
REMAIN              0           0        47,826            0        47,826           0         851        46,975
TOTAL               0           0       127,816            0       127,816           0       2,275       125,541	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            231           0           0           0           231          7,088         7,088         6,749
2004            229           0           0           0           229          6,724        13,812         5,796
2005            230           0           0           0           230          6,377        20,189         4,976
2006            228           0           0           0           228          6,047        26,236         4,271
2007            228           0           0           0           228          5,733        31,969         3,666
2008            227           0           0           0           227          5,437        37,406         3,146
2009            227           0           0           0           227          5,153        42,559         2,700
2010            226           0           0           0           226          4,885        47,444         2,317
2011            226           0           0           0           226          4,630        52,074         1,987
2012            225           0           0           0           225          4,388        56,462         1,705
2013            225           0           0           0           225          4,157        60,619         1,463
2014            224           0           0           0           224          3,940        64,559         1,254
2015            224           0           0           0           224          3,731        68,290         1,076
2016            224           0           0           0           224          3,533        71,823           922
2017            223           0           0           0           223          3,346        75,169           790

SUBTOT        3,397           0           0           0         3,397         75,169                      42,818
REMAIN        5,061           0           0           0         5,061         41,914       117,083         4,568
TOTAL         8,458           0           0           0         8,458        117,083                      47,386

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 128
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 3-T17S-R17W PROVED
MCGILL #2 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         436
ULTIMATE               0           0         436	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 129
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 34-T16S-R17W PROVED
O'DELL #1 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0         116    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         116        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 130
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
OCHS -A- #1 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       165,347
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       107,681
REMARKS -                                                                                 15.00% -        78,968
                                                                                          20.00% -        62,240
                                                                                          25.00% -        51,369	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           5               0           0           3.761       0.00     4.13
2004     1             0           0           4               0           0           3.648       0.00     4.13
2005     1             0           0           5               0           0           3.538       0.00     4.13
2006     1             0           0           4               0           0           3.432       0.00     4.13
2007     1             0           0           4               0           0           3.329       0.00     4.13
2008     1             0           0           4               0           0           3.229       0.00     4.13
2009     1             0           0           4               0           0           3.133       0.00     4.13
2010     1             0           0           4               0           0           3.039       0.00     4.13
2011     1             0           0           3               0           0           2.947       0.00     4.13
2012     1             0           0           4               0           0           2.859       0.00     4.13
2013     1             0           0           3               0           0           2.773       0.00     4.13
2014     1             0           0           4               0           0           2.690       0.00     4.13
2015     1             0           0           3               0           0           2.609       0.00     4.13
2016     1             0           0           3               0           0           2.531       0.00     4.13
2017     1             0           0           3               0           0           2.455       0.00     4.13

SUB-TOTAL              0           0          57               0           0          45.973       0.00     4.13
REMAINDER              0           0          50               0           0          39.984       0.00     4.13
TOTAL                  0           0         107               0           0          85.957       0.00     4.13

CUMULATIVE             0           0         227    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         334        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        15,531            0        15,531           0         276        15,255
2004                0           0        15,066            0        15,066           0         269        14,797
2005                0           0        14,614            0        14,614           0         260        14,354
2006                0           0        14,175            0        14,175           0         252        13,923
2007                0           0        13,750            0        13,750           0         245        13,505
2008                0           0        13,337            0        13,337           0         237        13,100
2009                0           0        12,937            0        12,937           0         231        12,706
2010                0           0        12,549            0        12,549           0         223        12,326
2011                0           0        12,173            0        12,173           0         217        11,956
2012                0           0        11,808            0        11,808           0         210        11,598
2013                0           0        11,453            0        11,453           0         204        11,249
2014                0           0        11,110            0        11,110           0         197        10,913
2015                0           0        10,776            0        10,776           0         192        10,584
2016                0           0        10,453            0        10,453           0         186        10,267
2017                0           0        10,140            0        10,140           0         181         9,959

SUB-TOT             0           0       189,872            0       189,872           0       3,380       186,492
REMAIN              0           0       165,133            0       165,133           0       2,939       162,194
TOTAL               0           0       355,005            0       355,005           0       6,319       348,686	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,083           0           0           0         1,083         14,172        14,172        13,493
2004          1,081           0           0           0         1,081         13,716        27,888        11,821
2005          1,082           0           0           0         1,082         13,272        41,160        10,354
2006          1,080           0           0           0         1,080         12,843        54,003         9,069
2007          1,079           0           0           0         1,079         12,426        66,429         7,944
2008          1,079           0           0           0         1,079         12,021        78,450         6,956
2009          1,078           0           0           0         1,078         11,628        90,078         6,091
2010          1,078           0           0           0         1,078         11,248       101,326         5,333
2011          1,077           0           0           0         1,077         10,879       112,205         4,670
2012          1,076           0           0           0         1,076         10,522       122,727         4,088
2013          1,076           0           0           0         1,076         10,173       132,900         3,578
2014          1,075           0           0           0         1,075          9,838       142,738         3,132
2015          1,074           0           0           0         1,074          9,510       152,248         2,740
2016          1,074           0           0           0         1,074          9,193       161,441         2,399
2017          1,074           0           0           0         1,074          8,885       170,326         2,098

SUBTOT       16,166           0           0           0        16,166        170,326                      93,766
REMAIN       24,571           0           0           0        24,571        137,623       307,949        13,915
TOTAL        40,737           0           0           0        40,737        307,949                     107,681

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 131
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R17W PROVED
PFEIFER -B- #1 (WABAUNSEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          16
ULTIMATE               0           0          16	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 132
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
RAU #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       210,986
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       157,104
REMARKS -                                                                                 15.00% -       124,473
                                                                                          20.00% -       102,898
                                                                                          25.00% -        87,665	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          10               0           0           7.434       0.00     4.13
2004     1             0           0           9               0           0           6.913       0.00     4.13
2005     1             0           0           9               0           0           6.429       0.00     4.13
2006     1             0           0           7               0           0           5.979       0.00     4.13
2007     1             0           0           8               0           0           5.561       0.00     4.13
2008     1             0           0           7               0           0           5.172       0.00     4.13
2009     1             0           0           6               0           0           4.810       0.00     4.13
2010     1             0           0           6               0           0           4.473       0.00     4.13
2011     1             0           0           5               0           0           4.160       0.00     4.13
2012     1             0           0           6               0           0           3.869       0.00     4.13
2013     1             0           0           4               0           0           3.598       0.00     4.13
2014     1             0           0           5               0           0           3.346       0.00     4.13
2015     1             0           0           4               0           0           3.112       0.00     4.13
2016     1             0           0           4               0           0           2.894       0.00     4.13
2017     1             0           0           3               0           0           2.691       0.00     4.13

SUB-TOTAL              0           0          93               0           0          70.441       0.00     4.13
REMAINDER              0           0          37               0           0          27.482       0.00     4.13
TOTAL                  0           0         130               0           0          97.923       0.00     4.13

CUMULATIVE             0           0       2,019    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0       2,149        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        30,702            0        30,702           0         546        30,156
2004                0           0        28,552            0        28,552           0         509        28,043
2005                0           0        26,554            0        26,554           0         472        26,082
2006                0           0        24,695            0        24,695           0         440        24,255
2007                0           0        22,966            0        22,966           0         409        22,557
2008                0           0        21,359            0        21,359           0         380        20,979
2009                0           0        19,863            0        19,863           0         354        19,509
2010                0           0        18,473            0        18,473           0         328        18,145
2011                0           0        17,180            0        17,180           0         306        16,874
2012                0           0        15,978            0        15,978           0         285        15,693
2013                0           0        14,859            0        14,859           0         264        14,595
2014                0           0        13,819            0        13,819           0         246        13,573
2015                0           0        12,851            0        12,851           0         229        12,622
2016                0           0        11,952            0        11,952           0         212        11,740
2017                0           0        11,115            0        11,115           0         198        10,917

SUB-TOT             0           0       290,918            0       290,918           0       5,178       285,740
REMAIN              0           0       113,500            0       113,500           0       2,021       111,479
TOTAL               0           0       404,418            0       404,418           0       7,199       397,219	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,492           0           0           0         2,492         27,664        27,664        26,348
2004          2,488           0           0           0         2,488         25,555        53,219        22,033
2005          2,485           0           0           0         2,485         23,597        76,816        18,416
2006          2,481           0           0           0         2,481         21,774        98,590        15,382
2007          2,478           0           0           0         2,478         20,079       118,669        12,841
2008          2,475           0           0           0         2,475         18,504       137,173        10,712
2009          2,472           0           0           0         2,472         17,037       154,210         8,928
2010          2,470           0           0           0         2,470         15,675       169,885         7,435
2011          2,468           0           0           0         2,468         14,406       184,291         6,186
2012          2,465           0           0           0         2,465         13,228       197,519         5,142
2013          2,463           0           0           0         2,463         12,132       209,651         4,269
2014          2,461           0           0           0         2,461         11,112       220,763         3,539
2015          2,460           0           0           0         2,460         10,162       230,925         2,930
2016          2,458           0           0           0         2,458          9,282       240,207         2,423
2017          2,456           0           0           0         2,456          8,461       248,668         1,999

SUBTOT       37,072           0           0           0        37,072        248,668                     148,583
REMAIN       49,333           0           0           0        49,333         62,146       310,814         8,521
TOTAL        86,405           0           0           0        86,405        310,814                     157,104

  LIFE OF EVALUATION IS 35.17 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 133
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R17W PROVED
REICHEL #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       321,415
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       247,121
REMARKS -                                                                                 15.00% -       199,545
                                                                                          20.00% -       166,956
                                                                                          25.00% -       143,408	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          16               0           0          12.799       0.00     4.13
2004     1             0           0          15               0           0          11.775       0.00     4.13
2005     1             0           0          13               0           0          10.833       0.00     4.13
2006     1             0           0          12               0           0           9.966       0.00     4.13
2007     1             0           0          12               0           0           9.169       0.00     4.13
2008     1             0           0          10               0           0           8.436       0.00     4.13
2009     1             0           0          10               0           0           7.761       0.00     4.13
2010     1             0           0           9               0           0           7.140       0.00     4.13
2011     1             0           0           8               0           0           6.569       0.00     4.13
2012     1             0           0           7               0           0           6.043       0.00     4.13
2013     1             0           0           7               0           0           5.560       0.00     4.13
2014     1             0           0           7               0           0           5.115       0.00     4.13
2015     1             0           0           6               0           0           4.706       0.00     4.13
2016     1             0           0           5               0           0           4.329       0.00     4.13
2017     1             0           0           5               0           0           3.983       0.00     4.13

SUB-TOTAL              0           0         142               0           0         114.184       0.00     4.13
REMAINDER              0           0          39               0           0          31.250       0.00     4.13
TOTAL                  0           0         181               0           0         145.434       0.00     4.13

CUMULATIVE             0           0         292    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         473        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        52,860            0        52,860           0         941        51,919
2004                0           0        48,631            0        48,631           0         866        47,765
2005                0           0        44,741            0        44,741           0         796        43,945
2006                0           0        41,162            0        41,162           0         733        40,429
2007                0           0        37,868            0        37,868           0         674        37,194
2008                0           0        34,839            0        34,839           0         620        34,219
2009                0           0        32,052            0        32,052           0         570        31,482
2010                0           0        29,488            0        29,488           0         525        28,963
2011                0           0        27,129            0        27,129           0         483        26,646
2012                0           0        24,959            0        24,959           0         444        24,515
2013                0           0        22,961            0        22,961           0         409        22,552
2014                0           0        21,125            0        21,125           0         376        20,749
2015                0           0        19,435            0        19,435           0         346        19,089
2016                0           0        17,880            0        17,880           0         318        17,562
2017                0           0        16,450            0        16,450           0         293        16,157

SUB-TOT             0           0       471,580            0       471,580           0       8,394       463,186
REMAIN              0           0       129,062            0       129,062           0       2,297       126,765
TOTAL               0           0       600,642            0       600,642           0      10,691       589,951	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          5,011           0           0           0         5,011         46,908        46,908        44,682
2004          5,003           0           0           0         5,003         42,762        89,670        36,872
2005          4,997           0           0           0         4,997         38,948       128,618        30,400
2006          4,990           0           0           0         4,990         35,439       164,057        25,039
2007          4,985           0           0           0         4,985         32,209       196,266        20,601
2008          4,980           0           0           0         4,980         29,239       225,505        16,928
2009          4,975           0           0           0         4,975         26,507       252,012        13,892
2010          4,970           0           0           0         4,970         23,993       276,005        11,383
2011          4,967           0           0           0         4,967         21,679       297,684         9,311
2012          4,963           0           0           0         4,963         19,552       317,236         7,601
2013          4,959           0           0           0         4,959         17,593       334,829         6,191
2014          4,956           0           0           0         4,956         15,793       350,622         5,031
2015          4,954           0           0           0         4,954         14,135       364,757         4,076
2016          4,950           0           0           0         4,950         12,612       377,369         3,293
2017          4,949           0           0           0         4,949         11,208       388,577         2,648

SUBTOT       74,609           0           0           0        74,609        388,577                     237,948
REMAIN       67,871           0           0           0        67,871         58,894       447,471         9,173
TOTAL       142,480           0           0           0       142,480        447,471                     247,121

  LIFE OF EVALUATION IS 28.75 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 134
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 31-T17S-R16W PROVED
ROTHE #1-31 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        71,369
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        65,061
REMARKS -                                                                                 15.00% -        59,615
                                                                                          20.00% -        54,890
                                                                                          25.00% -        50,768	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          12               0           0           9.833       0.00     4.13
2004     1             0           0          11               0           0           8.486       0.00     4.13
2005     1             0           0           9               0           0           7.324       0.00     4.13
2006     1             0           0           8               0           0           6.320       0.00     4.13
2007     1             0           0           6               0           0           5.454       0.00     4.13
2008     1             0           0           4               0           0           3.122       0.00     4.13
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          50               0           0          40.539       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          50               0           0          40.539       0.00     4.13

CUMULATIVE             0           0         470    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         520        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        40,611            0        40,611           0         723        39,888
2004                0           0        35,048            0        35,048           0         624        34,424
2005                0           0        30,246            0        30,246           0         538        29,708
2006                0           0        26,103            0        26,103           0         465        25,638
2007                0           0        22,526            0        22,526           0         401        22,125
2008                0           0        12,895            0        12,895           0         229        12,666
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       167,429            0       167,429           0       2,980       164,449
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       167,429            0       167,429           0       2,980       164,449	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         15,202           0           0           0        15,202         24,686        24,686        23,543
2004         15,192           0           0           0        15,192         19,232        43,918        16,606
2005         15,184           0           0           0        15,184         14,524        58,442        11,356
2006         15,176           0           0           0        15,176         10,462        68,904         7,408
2007         15,171           0           0           0        15,171          6,954        75,858         4,461
2008          9,807           0           0           0         9,807          2,859        78,717         1,687
2009              0           0           0           0             0              0        78,717             0
2010              0           0           0           0             0              0        78,717             0
2011              0           0           0           0             0              0        78,717             0
2012              0           0           0           0             0              0        78,717             0
2013              0           0           0           0             0              0        78,717             0
2014              0           0           0           0             0              0        78,717             0
2015              0           0           0           0             0              0        78,717             0
2016              0           0           0           0             0              0        78,717             0
2017              0           0           0           0             0              0        78,717             0

SUBTOT       85,732           0           0           0        85,732         78,717                      65,061
REMAIN            0           0           0           0             0              0        78,717             0
TOTAL        85,732           0           0           0        85,732         78,717                      65,061

  LIFE OF EVALUATION IS 5.65 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 135
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 20-T17S-R16W PROVED
ROTHE, R. #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -        76,046
FINAL   -   1.000000                      0.820313                             4.13       10.00% -        63,378
REMARKS -                                                                                 15.00% -        54,058
                                                                                          20.00% -        46,995
                                                                                          25.00% -        41,500	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           6               0           0           4.366       0.00     4.13
2004     1             0           0           5               0           0           3.842       0.00     4.13
2005     1             0           0           4               0           0           3.381       0.00     4.13
2006     1             0           0           4               0           0           2.976       0.00     4.13
2007     1             0           0           4               0           0           2.618       0.00     4.13
2008     1             0           0           3               0           0           2.304       0.00     4.13
2009     1             0           0           3               0           0           2.028       0.00     4.13
2010     1             0           0           2               0           0           1.784       0.00     4.13
2011     1             0           0           2               0           0           1.570       0.00     4.13
2012     1             0           0           2               0           0           1.382       0.00     4.13
2013     1             0           0           1               0           0           1.216       0.00     4.13
2014     1             0           0           2               0           0           1.070       0.00     4.13
2015     1             0           0           1               0           0           0.942       0.00     4.13
2016     1             0           0           1               0           0           0.829       0.00     4.13
2017     1             0           0           1               0           0           0.729       0.00     4.13

SUB-TOTAL              0           0          41               0           0          31.037       0.00     4.13
REMAINDER              0           0           2               0           0           1.162       0.00     4.13
TOTAL                  0           0          43               0           0          32.199       0.00     4.13

CUMULATIVE             0           0         474    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         517        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        18,033            0        18,033           0         321        17,712
2004                0           0        15,869            0        15,869           0         282        15,587
2005                0           0        13,965            0        13,965           0         249        13,716
2006                0           0        12,289            0        12,289           0         219        12,070
2007                0           0        10,814            0        10,814           0         192        10,622
2008                0           0         9,517            0         9,517           0         170         9,347
2009                0           0         8,375            0         8,375           0         149         8,226
2010                0           0         7,369            0         7,369           0         131         7,238
2011                0           0         6,485            0         6,485           0         115         6,370
2012                0           0         5,708            0         5,708           0         102         5,606
2013                0           0         5,022            0         5,022           0          89         4,933
2014                0           0         4,419            0         4,419           0          79         4,340
2015                0           0         3,890            0         3,890           0          69         3,821
2016                0           0         3,422            0         3,422           0          61         3,361
2017                0           0         3,012            0         3,012           0          54         2,958

SUB-TOT             0           0       128,189            0       128,189           0       2,282       125,907
REMAIN              0           0         4,799            0         4,799           0          85         4,714
TOTAL               0           0       132,988            0       132,988           0       2,367       130,621	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,193           0           0           0         2,193         15,519        15,519        14,789
2004          2,189           0           0           0         2,189         13,398        28,917        11,558
2005          2,186           0           0           0         2,186         11,530        40,447         9,004
2006          2,182           0           0           0         2,182          9,888        50,335         6,989
2007          2,180           0           0           0         2,180          8,442        58,777         5,403
2008          2,177           0           0           0         2,177          7,170        65,947         4,153
2009          2,176           0           0           0         2,176          6,050        71,997         3,173
2010          2,173           0           0           0         2,173          5,065        77,062         2,405
2011          2,172           0           0           0         2,172          4,198        81,260         1,804
2012          2,170           0           0           0         2,170          3,436        84,696         1,337
2013          2,169           0           0           0         2,169          2,764        87,460           973
2014          2,169           0           0           0         2,169          2,171        89,631           693
2015          2,167           0           0           0         2,167          1,654        91,285           478
2016          2,166           0           0           0         2,166          1,195        92,480           312
2017          2,165           0           0           0         2,165            793        93,273           188

SUBTOT       32,634           0           0           0        32,634         93,273                      63,259
REMAIN        4,149           0           0           0         4,149            565        93,838           119
TOTAL        36,783           0           0           0        36,783         93,838                      63,378

  LIFE OF EVALUATION IS 16.92 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 136
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 4-T17S-R17W PROVED
SCHEUERMAN #56 (GRWS-SHWN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       147,033
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        93,499
REMARKS -                                                                                 15.00% -        67,621
                                                                                          20.00% -        52,852
                                                                                          25.00% -        43,385	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           2.992       0.00     4.13
2004     1             0           0           3               0           0           2.917       0.00     4.13
2005     1             0           0           4               0           0           2.844       0.00     4.13
2006     1             0           0           3               0           0           2.773       0.00     4.13
2007     1             0           0           4               0           0           2.704       0.00     4.13
2008     1             0           0           3               0           0           2.636       0.00     4.13
2009     1             0           0           3               0           0           2.570       0.00     4.13
2010     1             0           0           3               0           0           2.506       0.00     4.13
2011     1             0           0           3               0           0           2.444       0.00     4.13
2012     1             0           0           3               0           0           2.382       0.00     4.13
2013     1             0           0           3               0           0           2.323       0.00     4.13
2014     1             0           0           3               0           0           2.265       0.00     4.13
2015     1             0           0           3               0           0           2.208       0.00     4.13
2016     1             0           0           2               0           0           2.153       0.00     4.13
2017     1             0           0           3               0           0           2.099       0.00     4.13

SUB-TOTAL              0           0          47               0           0          37.816       0.00     4.13
REMAINDER              0           0          45               0           0          36.135       0.00     4.13
TOTAL                  0           0          92               0           0          73.951       0.00     4.13

CUMULATIVE             0           0         436    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         528        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        12,357            0        12,357           0         220        12,137
2004                0           0        12,049            0        12,049           0         214        11,835
2005                0           0        11,747            0        11,747           0         210        11,537
2006                0           0        11,454            0        11,454           0         203        11,251
2007                0           0        11,167            0        11,167           0         199        10,968
2008                0           0        10,888            0        10,888           0         194        10,694
2009                0           0        10,616            0        10,616           0         189        10,427
2010                0           0        10,350            0        10,350           0         184        10,166
2011                0           0        10,092            0        10,092           0         180         9,912
2012                0           0         9,840            0         9,840           0         175         9,665
2013                0           0         9,593            0         9,593           0         171         9,422
2014                0           0         9,354            0         9,354           0         166         9,188
2015                0           0         9,119            0         9,119           0         163         8,956
2016                0           0         8,892            0         8,892           0         158         8,734
2017                0           0         8,670            0         8,670           0         154         8,516

SUB-TOT             0           0       156,188            0       156,188           0       2,780       153,408
REMAIN              0           0       149,239            0       149,239           0       2,657       146,582
TOTAL               0           0       305,427            0       305,427           0       5,437       299,990	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            417           0           0           0           417         11,720        11,720        11,158
2004            417           0           0           0           417         11,418        23,138         9,840
2005            416           0           0           0           416         11,121        34,259         8,675
2006            416           0           0           0           416         10,835        45,094         7,651
2007            415           0           0           0           415         10,553        55,647         6,746
2008            414           0           0           0           414         10,280        65,927         5,948
2009            415           0           0           0           415         10,012        75,939         5,244
2010            413           0           0           0           413          9,753        85,692         4,625
2011            414           0           0           0           414          9,498        95,190         4,076
2012            413           0           0           0           413          9,252       104,442         3,594
2013            412           0           0           0           412          9,010       113,452         3,169
2014            412           0           0           0           412          8,776       122,228         2,794
2015            412           0           0           0           412          8,544       130,772         2,462
2016            411           0           0           0           411          8,323       139,095         2,171
2017            411           0           0           0           411          8,105       147,200         1,914

SUBTOT        6,208           0           0           0         6,208        147,200                      80,067
REMAIN        9,364           0           0           0         9,364        137,218       284,418        13,432
TOTAL        15,572           0           0           0        15,572        284,418                      93,499

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 137
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 18-T16S-R17W PROVED
SCHLITTER #2 (PENNSYLVANIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.861328                             4.13        5.00% -        11,963
FINAL   -   1.000000                      0.861328                             4.13       10.00% -        10,082
REMARKS -                                                                                 15.00% -         8,650
                                                                                          20.00% -         7,539
                                                                                          25.00% -         6,659	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           1.246       0.00     4.13
2004     1             0           0           1               0           0           1.183       0.00     4.13
2005     1             0           0           1               0           0           1.123       0.00     4.13
2006     1             0           0           2               0           0           1.067       0.00     4.13
2007     1             0           0           1               0           0           1.013       0.00     4.13
2008     1             0           0           1               0           0           0.961       0.00     4.13
2009     1             0           0           1               0           0           0.913       0.00     4.13
2010     1             0           0           2               0           0           0.867       0.00     4.13
2011     1             0           0           1               0           0           0.823       0.00     4.13
2012     1             0           0           1               0           0           0.781       0.00     4.13
2013     1             0           0           1               0           0           0.742       0.00     4.13
2014     1             0           0           0               0           0           0.704       0.00     4.13
2015     1             0           0           1               0           0           0.614       0.00     4.13
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          15               0           0          12.037       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          15               0           0          12.037       0.00     4.13

CUMULATIVE             0           0         179    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         194        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         5,147            0         5,147           0          92         5,055
2004                0           0         4,887            0         4,887           0          87         4,800
2005                0           0         4,640            0         4,640           0          82         4,558
2006                0           0         4,405            0         4,405           0          79         4,326
2007                0           0         4,183            0         4,183           0          74         4,109
2008                0           0         3,971            0         3,971           0          71         3,900
2009                0           0         3,769            0         3,769           0          67         3,702
2010                0           0         3,580            0         3,580           0          64         3,516
2011                0           0         3,398            0         3,398           0          60         3,338
2012                0           0         3,226            0         3,226           0          57         3,169
2013                0           0         3,063            0         3,063           0          55         3,008
2014                0           0         2,909            0         2,909           0          52         2,857
2015                0           0         2,536            0         2,536           0          45         2,491
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        49,714            0        49,714           0         885        48,829
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        49,714            0        49,714           0         885        48,829	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,661           0           0           0         2,661          2,394         2,394         2,281
2004          2,660           0           0           0         2,660          2,140         4,534         1,845
2005          2,661           0           0           0         2,661          1,897         6,431         1,481
2006          2,659           0           0           0         2,659          1,667         8,098         1,179
2007          2,660           0           0           0         2,660          1,449         9,547           927
2008          2,658           0           0           0         2,658          1,242        10,789           719
2009          2,659           0           0           0         2,659          1,043        11,832           547
2010          2,658           0           0           0         2,658            858        12,690           408
2011          2,658           0           0           0         2,658            680        13,370           292
2012          2,658           0           0           0         2,658            511        13,881           199
2013          2,657           0           0           0         2,657            351        14,232           124
2014          2,657           0           0           0         2,657            200        14,432            64
2015          2,436           0           0           0         2,436             55        14,487            16
2016              0           0           0           0             0              0        14,487             0
2017              0           0           0           0             0              0        14,487             0

SUBTOT       34,342           0           0           0        34,342         14,487                      10,082
REMAIN            0           0           0           0             0              0        14,487             0
TOTAL        34,342           0           0           0        34,342         14,487                      10,082

  LIFE OF EVALUATION IS 12.92 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 138
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 13-T17S-R17W PROVED
SCHNEIDER #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -       246,092
FINAL   -   1.000000                      0.820313                             4.13       10.00% -       200,253
REMARKS -                                                                                 15.00% -       168,265
                                                                                          20.00% -       144,897
                                                                                          25.00% -       127,169	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          16               0           0          12.025       0.00     4.13
2004     1             0           0          14               0           0          10.462       0.00     4.13
2005     1             0           0          12               0           0           9.102       0.00     4.13
2006     1             0           0          10               0           0           7.918       0.00     4.13
2007     1             0           0           9               0           0           6.889       0.00     4.13
2008     1             0           0           8               0           0           5.993       0.00     4.13
2009     1             0           0           7               0           0           5.214       0.00     4.13
2010     1             0           0           6               0           0           4.536       0.00     4.13
2011     1             0           0           6               0           0           3.947       0.00     4.13
2012     1             0           0           4               0           0           3.434       0.00     4.13
2013     1             0           0           4               0           0           2.987       0.00     4.13
2014     1             0           0           4               0           0           2.599       0.00     4.13
2015     1             0           0           3               0           0           2.261       0.00     4.13
2016     1             0           0           2               0           0           1.967       0.00     4.13
2017     1             0           0           2               0           0           1.711       0.00     4.13

SUB-TOTAL              0           0         107               0           0          81.045       0.00     4.13
REMAINDER              0           0          11               0           0           8.067       0.00     4.13
TOTAL                  0           0         118               0           0          89.112       0.00     4.13

CUMULATIVE             0           0         430    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         548        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        49,662            0        49,662           0         884        48,778
2004                0           0        43,206            0        43,206           0         769        42,437
2005                0           0        37,589            0        37,589           0         669        36,920
2006                0           0        32,703            0        32,703           0         582        32,121
2007                0           0        28,451            0        28,451           0         507        27,944
2008                0           0        24,753            0        24,753           0         440        24,313
2009                0           0        21,535            0        21,535           0         384        21,151
2010                0           0        18,735            0        18,735           0         333        18,402
2011                0           0        16,300            0        16,300           0         290        16,010
2012                0           0        14,180            0        14,180           0         253        13,927
2013                0           0        12,337            0        12,337           0         219        12,118
2014                0           0        10,734            0        10,734           0         191        10,543
2015                0           0         9,338            0         9,338           0         167         9,171
2016                0           0         8,124            0         8,124           0         144         7,980
2017                0           0         7,068            0         7,068           0         126         6,942

SUB-TOT             0           0       334,715            0       334,715           0       5,958       328,757
REMAIN              0           0        33,316            0        33,316           0         593        32,723
TOTAL               0           0       368,031            0       368,031           0       6,551       361,480	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,999           0           0           0         1,999         46,779        46,779        44,578
2004          1,987           0           0           0         1,987         40,450        87,229        34,894
2005          1,977           0           0           0         1,977         34,943       122,172        27,286
2006          1,967           0           0           0         1,967         30,154       152,326        21,314
2007          1,960           0           0           0         1,960         25,984       178,310        16,627
2008          1,954           0           0           0         1,954         22,359       200,669        12,951
2009          1,947           0           0           0         1,947         19,204       219,873        10,069
2010          1,942           0           0           0         1,942         16,460       236,333         7,812
2011          1,938           0           0           0         1,938         14,072       250,405         6,046
2012          1,934           0           0           0         1,934         11,993       262,398         4,665
2013          1,931           0           0           0         1,931         10,187       272,585         3,587
2014          1,927           0           0           0         1,927          8,616       281,201         2,746
2015          1,925           0           0           0         1,925          7,246       288,447         2,091
2016          1,923           0           0           0         1,923          6,057       294,504         1,582
2017          1,921           0           0           0         1,921          5,021       299,525         1,187

SUBTOT       29,232           0           0           0        29,232        299,525                     197,435
REMAIN       16,756           0           0           0        16,756         15,967       315,492         2,818
TOTAL        45,988           0           0           0        45,988        315,492                     200,253

  LIFE OF EVALUATION IS 23.75 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 139
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T16S-R17W PROVED
SHERWOOD #1 (SHAWNEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.792969                             4.13        5.00% -        98,765
FINAL   -   1.000000                      0.792969                             4.13       10.00% -        64,273
REMARKS -                                                                                 15.00% -        47,094
                                                                                          20.00% -        37,090
                                                                                          25.00% -        30,593	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.386       0.00     4.13
2004     1             0           0           3               0           0           2.322       0.00     4.13
2005     1             0           0           4               0           0           2.259       0.00     4.13
2006     1             0           0           3               0           0           2.198       0.00     4.13
2007     1             0           0           2               0           0           2.139       0.00     4.13
2008     1             0           0           3               0           0           2.081       0.00     4.13
2009     1             0           0           3               0           0           2.025       0.00     4.13
2010     1             0           0           3               0           0           1.970       0.00     4.13
2011     1             0           0           2               0           0           1.917       0.00     4.13
2012     1             0           0           3               0           0           1.865       0.00     4.13
2013     1             0           0           2               0           0           1.815       0.00     4.13
2014     1             0           0           3               0           0           1.766       0.00     4.13
2015     1             0           0           2               0           0           1.718       0.00     4.13
2016     1             0           0           3               0           0           1.672       0.00     4.13
2017     1             0           0           2               0           0           1.627       0.00     4.13

SUB-TOTAL              0           0          41               0           0          29.760       0.00     4.13
REMAINDER              0           0          37               0           0          27.383       0.00     4.13
TOTAL                  0           0          78               0           0          57.143       0.00     4.13

CUMULATIVE             0           0         224    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         302        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         9,855            0         9,855           0         175         9,680
2004                0           0         9,588            0         9,588           0         171         9,417
2005                0           0         9,330            0         9,330           0         166         9,164
2006                0           0         9,078            0         9,078           0         162         8,916
2007                0           0         8,832            0         8,832           0         157         8,675
2008                0           0         8,595            0         8,595           0         153         8,442
2009                0           0         8,362            0         8,362           0         149         8,213
2010                0           0         8,136            0         8,136           0         145         7,991
2011                0           0         7,917            0         7,917           0         141         7,776
2012                0           0         7,703            0         7,703           0         137         7,566
2013                0           0         7,495            0         7,495           0         133         7,362
2014                0           0         7,292            0         7,292           0         130         7,162
2015                0           0         7,096            0         7,096           0         126         6,970
2016                0           0         6,904            0         6,904           0         123         6,781
2017                0           0         6,718            0         6,718           0         120         6,598

SUB-TOT             0           0       122,901            0       122,901           0       2,188       120,713
REMAIN              0           0       113,094            0       113,094           0       2,013       111,081
TOTAL               0           0       235,995            0       235,995           0       4,201       231,794	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,267           0           0           0         1,267          8,413         8,413         8,010
2004          1,266           0           0           0         1,266          8,151        16,564         7,024
2005          1,265           0           0           0         1,265          7,899        24,463         6,163
2006          1,266           0           0           0         1,266          7,650        32,113         5,402
2007          1,264           0           0           0         1,264          7,411        39,524         4,737
2008          1,265           0           0           0         1,265          7,177        46,701         4,153
2009          1,263           0           0           0         1,263          6,950        53,651         3,641
2010          1,264           0           0           0         1,264          6,727        60,378         3,190
2011          1,263           0           0           0         1,263          6,513        66,891         2,795
2012          1,262           0           0           0         1,262          6,304        73,195         2,449
2013          1,263           0           0           0         1,263          6,099        79,294         2,145
2014          1,261           0           0           0         1,261          5,901        85,195         1,879
2015          1,262           0           0           0         1,262          5,708        90,903         1,645
2016          1,261           0           0           0         1,261          5,520        96,423         1,440
2017          1,261           0           0           0         1,261          5,337       101,760         1,260

SUBTOT       18,953           0           0           0        18,953        101,760                      55,933
REMAIN       28,917           0           0           0        28,917         82,164       183,924         8,340
TOTAL        47,870           0           0           0        47,870        183,924                      64,273

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 140
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R17W PROVED
STEITZ -A- #1 (KANSAS CITY) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        20,460
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        18,781
REMARKS -                                                                                 15.00% -        17,320
                                                                                          20.00% -        16,041
                                                                                          25.00% -        14,917	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.178       0.00     4.13
2004     1             0           0           3               0           0           2.705       0.00     4.13
2005     1             0           0           3               0           0           2.302       0.00     4.13
2006     1             0           0           3               0           0           1.959       0.00     4.13
2007     1             0           0           2               0           0           1.667       0.00     4.13
2008     1             0           0           1               0           0           1.418       0.00     4.13
2009     1             0           0           1               0           0           0.108       0.00     4.13
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          17               0           0          13.337       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          17               0           0          13.337       0.00     4.13

CUMULATIVE             0           0         297    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         314        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        13,126            0        13,126           0         234        12,892
2004                0           0        11,170            0        11,170           0         198        10,972
2005                0           0         9,506            0         9,506           0         170         9,336
2006                0           0         8,089            0         8,089           0         144         7,945
2007                0           0         6,884            0         6,884           0         122         6,762
2008                0           0         5,859            0         5,859           0         104         5,755
2009                0           0           447            0           447           0           8           439
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        55,081            0        55,081           0         980        54,101
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        55,081            0        55,081           0         980        54,101	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          5,219           0           0           0         5,219          7,673         7,673         7,320
2004          5,215           0           0           0         5,215          5,757        13,430         4,972
2005          5,212           0           0           0         5,212          4,124        17,554         3,226
2006          5,210           0           0           0         5,210          2,735        20,289         1,939
2007          5,208           0           0           0         5,208          1,554        21,843           999
2008          5,206           0           0           0         5,206            549        22,392           322
2009            433           0           0           0           433              6        22,398             3
2010              0           0           0           0             0              0        22,398             0
2011              0           0           0           0             0              0        22,398             0
2012              0           0           0           0             0              0        22,398             0
2013              0           0           0           0             0              0        22,398             0
2014              0           0           0           0             0              0        22,398             0
2015              0           0           0           0             0              0        22,398             0
2016              0           0           0           0             0              0        22,398             0
2017              0           0           0           0             0              0        22,398             0

SUBTOT       31,703           0           0           0        31,703         22,398                      18,781
REMAIN            0           0           0           0             0              0        22,398             0
TOTAL        31,703           0           0           0        31,703         22,398                      18,781

  LIFE OF EVALUATION IS 6.08 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 141
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
STEITZ -B- #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.820313                             4.13        5.00% -         2,816
FINAL   -   1.000000                      0.820313                             4.13       10.00% -         2,692
REMARKS -                                                                                 15.00% -         2,576
                                                                                          20.00% -         2,468
                                                                                          25.00% -         2,368	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           2.978       0.00     4.13
2004     1             0           0           4               0           0           2.790       0.00     4.13
2005     1             0           0           3               0           0           2.190       0.00     4.13
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          11               0           0           7.958       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          11               0           0           7.958       0.00     4.13

CUMULATIVE             0           0         353    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         364        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        12,298            0        12,298           0         219        12,079
2004                0           0        11,524            0        11,524           0         205        11,319
2005                0           0         9,047            0         9,047           0         161         8,886
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        32,869            0        32,869           0         585        32,284
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        32,869            0        32,869           0         585        32,284	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         10,354           0           0           0        10,354          1,725         1,725         1,648
2004         10,354           0           0           0        10,354            965         2,690           837
2005          8,626           0           0           0         8,626            260         2,950           207
2006              0           0           0           0             0              0         2,950             0
2007              0           0           0           0             0              0         2,950             0
2008              0           0           0           0             0              0         2,950             0
2009              0           0           0           0             0              0         2,950             0
2010              0           0           0           0             0              0         2,950             0
2011              0           0           0           0             0              0         2,950             0
2012              0           0           0           0             0              0         2,950             0
2013              0           0           0           0             0              0         2,950             0
2014              0           0           0           0             0              0         2,950             0
2015              0           0           0           0             0              0         2,950             0
2016              0           0           0           0             0              0         2,950             0
2017              0           0           0           0             0              0         2,950             0

SUBTOT       29,334           0           0           0        29,334          2,950                       2,692
REMAIN            0           0           0           0             0              0         2,950             0
TOTAL        29,334           0           0           0        29,334          2,950                       2,692

  LIFE OF EVALUATION IS 2.83 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 142
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
THIELENHAUS #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        75,371
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        60,475
REMARKS -                                                                                 15.00% -        49,955
                                                                                          20.00% -        42,291
                                                                                          25.00% -        36,543	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.134       0.00     4.13
2004     1             0           0           3               0           0           2.871       0.00     4.13
2005     1             0           0           4               0           0           2.629       0.00     4.13
2006     1             0           0           3               0           0           2.409       0.00     4.13
2007     1             0           0           2               0           0           2.206       0.00     4.13
2008     1             0           0           3               0           0           2.021       0.00     4.13
2009     1             0           0           2               0           0           1.851       0.00     4.13
2010     1             0           0           2               0           0           1.696       0.00     4.13
2011     1             0           0           2               0           0           1.553       0.00     4.13
2012     1             0           0           2               0           0           1.423       0.00     4.13
2013     1             0           0           2               0           0           1.303       0.00     4.13
2014     1             0           0           1               0           0           1.194       0.00     4.13
2015     1             0           0           2               0           0           1.093       0.00     4.13
2016     1             0           0           1               0           0           0.917       0.00     4.13
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          33               0           0          26.300       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          33               0           0          26.300       0.00     4.13

CUMULATIVE             0           0       1,138    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0       1,171        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        12,943            0        12,943           0         230        12,713
2004                0           0        11,855            0        11,855           0         211        11,644
2005                0           0        10,860            0        10,860           0         194        10,666
2006                0           0         9,947            0         9,947           0         177         9,770
2007                0           0         9,112            0         9,112           0         162         8,950
2008                0           0         8,346            0         8,346           0         149         8,197
2009                0           0         7,645            0         7,645           0         136         7,509
2010                0           0         7,004            0         7,004           0         124         6,880
2011                0           0         6,414            0         6,414           0         114         6,300
2012                0           0         5,876            0         5,876           0         105         5,771
2013                0           0         5,383            0         5,383           0          96         5,287
2014                0           0         4,930            0         4,930           0          88         4,842
2015                0           0         4,516            0         4,516           0          80         4,436
2016                0           0         3,788            0         3,788           0          67         3,721
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       108,619            0       108,619           0       1,933       106,686
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       108,619            0       108,619           0       1,933       106,686	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            694           0           0           0           694         12,019        12,019        11,449
2004            693           0           0           0           693         10,951        22,970         9,442
2005            690           0           0           0           690          9,976        32,946         7,787
2006            689           0           0           0           689          9,081        42,027         6,416
2007            688           0           0           0           688          8,262        50,289         5,284
2008            686           0           0           0           686          7,511        57,800         4,349
2009            685           0           0           0           685          6,824        64,624         3,576
2010            684           0           0           0           684          6,196        70,820         2,939
2011            683           0           0           0           683          5,617        76,437         2,413
2012            682           0           0           0           682          5,089        81,526         1,978
2013            682           0           0           0           682          4,605        86,131         1,620
2014            680           0           0           0           680          4,162        90,293         1,326
2015            680           0           0           0           680          3,756        94,049         1,083
2016            619           0           0           0           619          3,102        97,151           813
2017              0           0           0           0             0              0        97,151             0

SUBTOT        9,535           0           0           0         9,535         97,151                      60,475
REMAIN            0           0           0           0             0              0        97,151             0
TOTAL         9,535           0           0           0         9,535         97,151                      60,475

  LIFE OF EVALUATION IS 13.91 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 143
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
THIELENHAUS #1 BP (TOPEKA) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       360,372
FINAL   -   1.000000                      0.875000                             4.13       10.00% -       288,894
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING.                                  15.00% -       235,726
                                                                                          20.00% -       195,376
                                                                                          25.00% -       164,164	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          29               0           0          22.995       0.00     4.13
2005     1             0           0          20               0           0          16.477       0.00     4.13
2006     1             0           0          18               0           0          14.375       0.00     4.13
2007     1             0           0          15               0           0          12.542       0.00     4.13
2008     1             0           0          14               0           0          10.942       0.00     4.13
2009     1             0           0          12               0           0           9.546       0.00     4.13
2010     1             0           0          10               0           0           8.329       0.00     4.13
2011     1             0           0           9               0           0           7.266       0.00     4.13
2012     1             0           0           8               0           0           6.340       0.00     4.13
2013     1             0           0           7               0           0           5.531       0.00     4.13
2014     1             0           0           3               0           0           2.382       0.00     4.13
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         145               0           0         116.725       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         145               0           0         116.725       0.00     4.13

CUMULATIVE             0           0           0    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         145        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        94,970            0        94,970           0       1,690        93,280
2005                0           0        68,049            0        68,049           0       1,212        66,837
2006                0           0        59,369            0        59,369           0       1,057        58,312
2007                0           0        51,797            0        51,797           0         921        50,876
2008                0           0        45,190            0        45,190           0         805        44,385
2009                0           0        39,426            0        39,426           0         702        38,724
2010                0           0        34,398            0        34,398           0         612        33,786
2011                0           0        30,010            0        30,010           0         534        29,476
2012                0           0        26,182            0        26,182           0         466        25,716
2013                0           0        22,842            0        22,842           0         407        22,435
2014                0           0         9,840            0         9,840           0         175         9,665
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       482,073            0       482,073           0       8,581       473,492
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       482,073            0       482,073           0       8,581       473,492	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0      15,000           0        15,000         78,280        78,280        67,185
2005              0           0           0           0             0         66,837       145,117        52,186
2006              0           0           0           0             0         58,312       203,429        41,215
2007              0           0           0           0             0         50,876       254,305        32,551
2008              0           0           0           0             0         44,385       298,690        25,705
2009              0           0           0           0             0         38,724       337,414        20,302
2010              0           0           0           0             0         33,786       371,200        16,033
2011              0           0           0           0             0         29,476       400,676        12,663
2012              0           0           0           0             0         25,716       426,392        10,000
2013              0           0           0           0             0         22,435       448,827         7,897
2014              0           0           0           0             0          9,665       458,492         3,157
2015              0           0           0           0             0              0       458,492             0
2016              0           0           0           0             0              0       458,492             0
2017              0           0           0           0             0              0       458,492             0

SUBTOT            0           0      15,000           0        15,000        458,492                     288,894
REMAIN            0           0           0           0             0              0       458,492             0
TOTAL             0           0      15,000           0        15,000        458,492                     288,894

  LIFE OF EVALUATION IS 11.48 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 144
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
TORREY #2 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.861328                             4.13        5.00% -       436,792
FINAL   -   1.000000                      0.861328                             4.13       10.00% -       302,438
REMARKS -                                                                                 15.00% -       229,987
                                                                                          20.00% -       185,396
                                                                                          25.00% -       155,324	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          15               0           0          11.819       0.00     4.13
2004     1             0           0          14               0           0          11.228       0.00     4.13
2005     1             0           0          14               0           0          10.666       0.00     4.13
2006     1             0           0          12               0           0          10.133       0.00     4.13
2007     1             0           0          12               0           0           9.626       0.00     4.13
2008     1             0           0          12               0           0           9.145       0.00     4.13
2009     1             0           0          11               0           0           8.688       0.00     4.13
2010     1             0           0          10               0           0           8.253       0.00     4.13
2011     1             0           0          10               0           0           7.841       0.00     4.13
2012     1             0           0          10               0           0           7.449       0.00     4.13
2013     1             0           0           9               0           0           7.076       0.00     4.13
2014     1             0           0           8               0           0           6.722       0.00     4.13
2015     1             0           0           8               0           0           6.386       0.00     4.13
2016     1             0           0           8               0           0           6.067       0.00     4.13
2017     1             0           0           7               0           0           5.764       0.00     4.13

SUB-TOTAL              0           0         160               0           0         126.863       0.00     4.13
REMAINDER              0           0          96               0           0          75.852       0.00     4.13
TOTAL                  0           0         256               0           0         202.715       0.00     4.13

CUMULATIVE             0           0       2,894    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0       3,150        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        48,811            0        48,811           0         869        47,942
2004                0           0        46,371            0        46,371           0         825        45,546
2005                0           0        44,052            0        44,052           0         784        43,268
2006                0           0        41,850            0        41,850           0         745        41,105
2007                0           0        39,757            0        39,757           0         708        39,049
2008                0           0        37,770            0        37,770           0         672        37,098
2009                0           0        35,880            0        35,880           0         639        35,241
2010                0           0        34,087            0        34,087           0         607        33,480
2011                0           0        32,383            0        32,383           0         576        31,807
2012                0           0        30,763            0        30,763           0         548        30,215
2013                0           0        29,225            0        29,225           0         520        28,705
2014                0           0        27,764            0        27,764           0         494        27,270
2015                0           0        26,376            0        26,376           0         470        25,906
2016                0           0        25,057            0        25,057           0         446        24,611
2017                0           0        23,804            0        23,804           0         423        23,381

SUB-TOT             0           0       523,950            0       523,950           0       9,326       514,624
REMAIN              0           0       313,267            0       313,267           0       5,576       307,691
TOTAL               0           0       837,217            0       837,217           0      14,902       822,315	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,317           0           0           0         2,317         45,625        45,625        43,446
2004          2,313           0           0           0         2,313         43,233        88,858        37,266
2005          2,309           0           0           0         2,309         40,959       129,817        31,959
2006          2,304           0           0           0         2,304         38,801       168,618        27,406
2007          2,302           0           0           0         2,302         36,747       205,365        23,495
2008          2,297           0           0           0         2,297         34,801       240,166        20,141
2009          2,295           0           0           0         2,295         32,946       273,112        17,261
2010          2,291           0           0           0         2,291         31,189       304,301        14,791
2011          2,289           0           0           0         2,289         29,518       333,819        12,672
2012          2,285           0           0           0         2,285         27,930       361,749        10,854
2013          2,283           0           0           0         2,283         26,422       388,171         9,294
2014          2,281           0           0           0         2,281         24,989       413,160         7,957
2015          2,277           0           0           0         2,277         23,629       436,789         6,811
2016          2,276           0           0           0         2,276         22,335       459,124         5,828
2017          2,274           0           0           0         2,274         21,107       480,231         4,985

SUBTOT       34,393           0           0           0        34,393        480,231                     274,166
REMAIN       51,881           0           0           0        51,881        255,810       736,041        28,272
TOTAL        86,274           0           0           0        86,274        736,041                     302,438

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 145
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 20-T16S-R17W PROVED
URBAN R & A #1 (WABAUNSEE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -        40,948
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        31,748
REMARKS -                                                                                 15.00% -        25,760
                                                                                          20.00% -        21,615
                                                                                          25.00% -        18,601	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           1.705       0.00     4.13
2004     1             0           0           2               0           0           1.569       0.00     4.13
2005     1             0           0           2               0           0           1.443       0.00     4.13
2006     1             0           0           2               0           0           1.328       0.00     4.13
2007     1             0           0           1               0           0           1.221       0.00     4.13
2008     1             0           0           1               0           0           1.124       0.00     4.13
2009     1             0           0           2               0           0           1.034       0.00     4.13
2010     1             0           0           1               0           0           0.951       0.00     4.13
2011     1             0           0           1               0           0           0.875       0.00     4.13
2012     1             0           0           1               0           0           0.805       0.00     4.13
2013     1             0           0           1               0           0           0.741       0.00     4.13
2014     1             0           0           1               0           0           0.681       0.00     4.13
2015     1             0           0           1               0           0           0.627       0.00     4.13
2016     1             0           0           0               0           0           0.577       0.00     4.13
2017     1             0           0           1               0           0           0.531       0.00     4.13

SUB-TOTAL              0           0          19               0           0          15.212       0.00     4.13
REMAINDER              0           0           5               0           0           3.795       0.00     4.13
TOTAL                  0           0          24               0           0          19.007       0.00     4.13

CUMULATIVE             0           0          72    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0          96        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         7,042            0         7,042           0         125         6,917
2004                0           0         6,478            0         6,478           0         116         6,362
2005                0           0         5,960            0         5,960           0         106         5,854
2006                0           0         5,483            0         5,483           0          97         5,386
2007                0           0         5,045            0         5,045           0          90         4,955
2008                0           0         4,641            0         4,641           0          83         4,558
2009                0           0         4,269            0         4,269           0          76         4,193
2010                0           0         3,928            0         3,928           0          70         3,858
2011                0           0         3,614            0         3,614           0          64         3,550
2012                0           0         3,325            0         3,325           0          59         3,266
2013                0           0         3,059            0         3,059           0          55         3,004
2014                0           0         2,814            0         2,814           0          50         2,764
2015                0           0         2,589            0         2,589           0          46         2,543
2016                0           0         2,382            0         2,382           0          42         2,340
2017                0           0         2,191            0         2,191           0          39         2,152

SUB-TOT             0           0        62,820            0        62,820           0       1,118        61,702
REMAIN              0           0        15,674            0        15,674           0         279        15,395
TOTAL               0           0        78,494            0        78,494           0       1,397        77,097	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            792           0           0           0           792          6,125         6,125         5,834
2004            791           0           0           0           791          5,571        11,696         4,804
2005            790           0           0           0           790          5,064        16,760         3,953
2006            790           0           0           0           790          4,596        21,356         3,247
2007            788           0           0           0           788          4,167        25,523         2,665
2008            788           0           0           0           788          3,770        29,293         2,183
2009            788           0           0           0           788          3,405        32,698         1,785
2010            786           0           0           0           786          3,072        35,770         1,457
2011            787           0           0           0           787          2,763        38,533         1,187
2012            785           0           0           0           785          2,481        41,014           964
2013            786           0           0           0           786          2,218        43,232           781
2014            784           0           0           0           784          1,980        45,212           631
2015            785           0           0           0           785          1,758        46,970           507
2016            784           0           0           0           784          1,556        48,526           406
2017            784           0           0           0           784          1,368        49,894           323

SUBTOT       11,808           0           0           0        11,808         49,894                      30,727
REMAIN        9,127           0           0           0         9,127          6,268        56,162         1,021
TOTAL        20,935           0           0           0        20,935         56,162                      31,748

  LIFE OF EVALUATION IS 26.67 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 146
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL EAST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 35-T17S-R18W PROVED
BAHR #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.13        5.00% -       146,354
FINAL   -   1.000000                      0.875000                             4.13       10.00% -        96,951
REMARKS -                                                                                 15.00% -        71,818
                                                                                          20.00% -        56,955
                                                                                          25.00% -        47,198	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.494       0.00     4.13
2004     1             0           0           5               0           0           3.372       0.00     4.13
2005     1             0           0           4               0           0           3.254       0.00     4.13
2006     1             0           0           3               0           0           3.140       0.00     4.13
2007     1             0           0           4               0           0           3.030       0.00     4.13
2008     1             0           0           4               0           0           2.924       0.00     4.13
2009     1             0           0           3               0           0           2.822       0.00     4.13
2010     1             0           0           4               0           0           2.723       0.00     4.13
2011     1             0           0           3               0           0           2.628       0.00     4.13
2012     1             0           0           3               0           0           2.536       0.00     4.13
2013     1             0           0           3               0           0           2.447       0.00     4.13
2014     1             0           0           3               0           0           2.361       0.00     4.13
2015     1             0           0           3               0           0           2.279       0.00     4.13
2016     1             0           0           3               0           0           2.199       0.00     4.13
2017     1             0           0           2               0           0           2.122       0.00     4.13

SUB-TOTAL              0           0          51               0           0          41.331       0.00     4.13
REMAINDER              0           0          41               0           0          32.724       0.00     4.13
TOTAL                  0           0          92               0           0          74.055       0.00     4.13

CUMULATIVE             0           0         141    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         233        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        14,432            0        14,432           0         257        14,175
2004                0           0        13,927            0        13,927           0         248        13,679
2005                0           0        13,439            0        13,439           0         239        13,200
2006                0           0        12,969            0        12,969           0         231        12,738
2007                0           0        12,515            0        12,515           0         223        12,292
2008                0           0        12,077            0        12,077           0         215        11,862
2009                0           0        11,654            0        11,654           0         207        11,447
2010                0           0        11,246            0        11,246           0         200        11,046
2011                0           0        10,853            0        10,853           0         193        10,660
2012                0           0        10,473            0        10,473           0         187        10,286
2013                0           0        10,106            0        10,106           0         180         9,926
2014                0           0         9,753            0         9,753           0         173         9,580
2015                0           0         9,411            0         9,411           0         168         9,243
2016                0           0         9,082            0         9,082           0         161         8,921
2017                0           0         8,764            0         8,764           0         156         8,608

SUB-TOT             0           0       170,701            0       170,701           0       3,038       167,663
REMAIN              0           0       135,151            0       135,151           0       2,406       132,745
TOTAL               0           0       305,852            0       305,852           0       5,444       300,408	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            937           0           0           0           937         13,238        13,238        12,604
2004            936           0           0           0           936         12,743        25,981        10,983
2005            935           0           0           0           935         12,265        38,246         9,569
2006            934           0           0           0           934         11,804        50,050         8,336
2007            933           0           0           0           933         11,359        61,409         7,262
2008            933           0           0           0           933         10,929        72,338         6,324
2009            932           0           0           0           932         10,515        82,853         5,508
2010            931           0           0           0           931         10,115        92,968         4,797
2011            931           0           0           0           931          9,729       102,697         4,176
2012            930           0           0           0           930          9,356       112,053         3,635
2013            929           0           0           0           929          8,997       121,050         3,164
2014            929           0           0           0           929          8,651       129,701         2,755
2015            928           0           0           0           928          8,315       138,016         2,396
2016            928           0           0           0           928          7,993       146,009         2,085
2017            927           0           0           0           927          7,681       153,690         1,814

SUBTOT       13,973           0           0           0        13,973        153,690                      85,408
REMAIN       21,207           0           0           0        21,207        111,538       265,228        11,543
TOTAL        35,180           0           0           0        35,180        265,228                      96,951

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 0.1 MMCF/MO	

TENGASCO, INC. TABLE 147
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R18W PROVED
LEGLEITER -A- #1-1 (CHASE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.738281                             4.13        5.00% -       254,562
FINAL   -   1.000000                      0.738281                             4.13       10.00% -       185,525
REMARKS -                                                                                 15.00% -       144,480
                                                                                          20.00% -       117,867
                                                                                          25.00% -        99,405	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          15               0           0          10.161       0.00     4.13
2004     1             0           0          14               0           0           9.754       0.00     4.13
2005     1             0           0          14               0           0           9.364       0.00     4.13
2006     1             0           0          13               0           0           8.990       0.00     4.13
2007     1             0           0          13               0           0           8.630       0.00     4.13
2008     1             0           0          12               0           0           8.285       0.00     4.13
2009     1             0           0          12               0           0           7.953       0.00     4.13
2010     1             0           0          11               0           0           7.635       0.00     4.13
2011     1             0           0          11               0           0           7.330       0.00     4.13
2012     1             0           0          10               0           0           7.037       0.00     4.13
2013     1             0           0          10               0           0           6.755       0.00     4.13
2014     1             0           0          10               0           0           6.485       0.00     4.13
2015     1             0           0           9               0           0           6.226       0.00     4.13
2016     1             0           0           9               0           0           5.977       0.00     4.13
2017     1             0           0           8               0           0           5.737       0.00     4.13

SUB-TOTAL              0           0         171               0           0         116.319       0.00     4.13
REMAINDER              0           0         101               0           0          68.437       0.00     4.13
TOTAL                  0           0         272               0           0         184.756       0.00     4.13

CUMULATIVE             0           0         267    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         539        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        41,964            0        41,964           0         747        41,217
2004                0           0        40,285            0        40,285           0         717        39,568
2005                0           0        38,673            0        38,673           0         688        37,985
2006                0           0        37,127            0        37,127           0         661        36,466
2007                0           0        35,641            0        35,641           0         635        35,006
2008                0           0        34,216            0        34,216           0         609        33,607
2009                0           0        32,848            0        32,848           0         584        32,264
2010                0           0        31,533            0        31,533           0         562        30,971
2011                0           0        30,272            0        30,272           0         539        29,733
2012                0           0        29,061            0        29,061           0         517        28,544
2013                0           0        27,899            0        27,899           0         496        27,403
2014                0           0        26,783            0        26,783           0         477        26,306
2015                0           0        25,711            0        25,711           0         458        25,253
2016                0           0        24,683            0        24,683           0         439        24,244
2017                0           0        23,696            0        23,696           0         422        23,274

SUB-TOT             0           0       480,392            0       480,392           0       8,551       471,841
REMAIN              0           0       282,644            0       282,644           0       5,031       277,613
TOTAL               0           0       763,036            0       763,036           0      13,582       749,454	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,521           0           0           0        11,521         29,696        29,696        28,278
2004         11,518           0           0           0        11,518         28,050        57,746        24,180
2005         11,515           0           0           0        11,515         26,470        84,216        20,654
2006         11,511           0           0           0        11,511         24,955       109,171        17,627
2007         11,509           0           0           0        11,509         23,497       132,668        15,024
2008         11,505           0           0           0        11,505         22,102       154,770        12,793
2009         11,503           0           0           0        11,503         20,761       175,531        10,877
2010         11,500           0           0           0        11,500         19,471       195,002         9,235
2011         11,497           0           0           0        11,497         18,236       213,238         7,829
2012         11,495           0           0           0        11,495         17,049       230,287         6,626
2013         11,493           0           0           0        11,493         15,910       246,197         5,598
2014         11,491           0           0           0        11,491         14,815       261,012         4,718
2015         11,488           0           0           0        11,488         13,765       274,777         3,968
2016         11,486           0           0           0        11,486         12,758       287,535         3,329
2017         11,484           0           0           0        11,484         11,790       299,325         2,786

SUBTOT      172,516           0           0           0       172,516        299,325                     173,522
REMAIN      193,080           0           0           0       193,080         84,533       383,858        12,003
TOTAL       365,596           0           0           0       365,596        383,858                     185,525

  LIFE OF EVALUATION IS 31.83 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 148
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R18W PROVED
LEGLEITER -A- #1-2 (CHASE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           2
ULTIMATE               0           0           2	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 149
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 1-T17S-R18W PROVED
MUTH #1 & 2 (CHSE-SHWN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.722656                             4.13        5.00% -       174,392
FINAL   -   1.000000                      0.722656                             4.13       10.00% -       149,457
REMARKS -                                                                                 15.00% -       130,099
                                                                                          20.00% -       114,795
                                                                                          25.00% -       102,492	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2             0           0          19               0           0          12.362       0.00     4.13
2004     2             0           0          16               0           0          10.879       0.00     4.13
2005     2             0           0          14               0           0           9.573       0.00     4.13
2006     2             0           0          13               0           0           8.424       0.00     4.13
2007     2             0           0          11               0           0           7.413       0.00     4.13
2008     2             0           0          10               0           0           6.524       0.00     4.13
2009     2             0           0           9               0           0           5.741       0.00     4.13
2010     2             0           0           7               0           0           5.052       0.00     4.13
2011     2             0           0           7               0           0           4.446       0.00     4.13
2012     2             0           0           6               0           0           3.912       0.00     4.13
2013     2             0           0           5               0           0           3.443       0.00     4.13
2014     2             0           0           2               0           0           1.203       0.00     4.13
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         119               0           0          78.972       0.00     4.13
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         119               0           0          78.972       0.00     4.13

CUMULATIVE             0           0         619    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE               0           0         738        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        51,055            0        51,055           0         909        50,146
2004                0           0        44,929            0        44,929           0         800        44,129
2005                0           0        39,537            0        39,537           0         703        38,834
2006                0           0        34,793            0        34,793           0         620        34,173
2007                0           0        30,617            0        30,617           0         545        30,072
2008                0           0        26,944            0        26,944           0         479        26,465
2009                0           0        23,710            0        23,710           0         422        23,288
2010                0           0        20,865            0        20,865           0         372        20,493
2011                0           0        18,361            0        18,361           0         326        18,035
2012                0           0        16,158            0        16,158           0         288        15,870
2013                0           0        14,219            0        14,219           0         253        13,966
2014                0           0         4,966            0         4,966           0          89         4,877
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       326,154            0       326,154           0       5,806       320,348
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       326,154            0       326,154           0       5,806       320,348	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,994           0           0           0         9,994         40,152        40,152        38,268
2004          9,981           0           0           0         9,981         34,148        74,300        29,461
2005          9,970           0           0           0         9,970         28,864       103,164        22,544
2006          9,961           0           0           0         9,961         24,212       127,376        17,119
2007          9,951           0           0           0         9,951         20,121       147,497        12,879
2008          9,944           0           0           0         9,944         16,521       164,018         9,574
2009          9,937           0           0           0         9,937         13,351       177,369         7,004
2010          9,932           0           0           0         9,932         10,561       187,930         5,016
2011          9,926           0           0           0         9,926          8,109       196,039         3,488
2012          9,921           0           0           0         9,921          5,949       201,988         2,317
2013          9,918           0           0           0         9,918          4,048       206,036         1,429
2014          3,785           0           0           0         3,785          1,092       207,128           358
2015              0           0           0           0             0              0       207,128             0
2016              0           0           0           0             0              0       207,128             0
2017              0           0           0           0             0              0       207,128             0

SUBTOT      113,220           0           0           0       113,220        207,128                     149,457
REMAIN            0           0           0           0             0              0       207,128             0
TOTAL       113,220           0           0           0       113,220        207,128                     149,457

  LIFE OF EVALUATION IS 11.38 YEARS.
  FINAL PRODUCTION RATE: 0.4 MMCF/MO	

TENGASCO, INC. TABLE 150
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIDGEWAY SOUTH FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 34-T12S-R21W PROVED
SCHOENTHALER #3 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -       110,924
FINAL   -   1.000000  0.820313                         27.29                              10.00% -        95,923
REMARKS -                                                                                 15.00% -        84,138
                                                                                          20.00% -        74,727
                                                                                          25.00% -        67,095	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,768           0           0           1,450           0           0.000      27.29     0.00
2004     1         1,481           0           0           1,216           0           0.000      27.29     0.00
2005     1         1,334           0           0           1,093           0           0.000      27.29     0.00
2006     1         1,200           0           0             985           0           0.000      27.29     0.00
2007     1         1,079           0           0             885           0           0.000      27.29     0.00
2008     1           972           0           0             798           0           0.000      27.29     0.00
2009     1           875           0           0             717           0           0.000      27.29     0.00
2010     1           787           0           0             646           0           0.000      27.29     0.00
2011     1           709           0           0             581           0           0.000      27.29     0.00
2012     1           638           0           0             523           0           0.000      27.29     0.00
2013     1           573           0           0             471           0           0.000      27.29     0.00
2014     1           351           0           0             287           0           0.000      27.29     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         11,767           0           0           9,652           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             11,767           0           0           9,652           0           0.000      27.29     0.00

CUMULATIVE        50,223           0           0
ULTIMATE          61,990           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           39,582           0             0            0        39,582         241           0        39,341
2004           33,162           0             0            0        33,162         203           0        32,959
2005           29,846           0             0            0        29,846         182           0        29,664
2006           26,861           0             0            0        26,861         164           0        26,697
2007           24,175           0             0            0        24,175         147           0        24,028
2008           21,757           0             0            0        21,757         133           0        21,624
2009           19,582           0             0            0        19,582         119           0        19,463
2010           17,624           0             0            0        17,624         108           0        17,516
2011           15,861           0             0            0        15,861          97           0        15,764
2012           14,275           0             0            0        14,275          87           0        14,188
2013           12,847           0             0            0        12,847          78           0        12,769
2014            7,843           0             0            0         7,843          48           0         7,795
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       263,415           0             0            0       263,415       1,607           0       261,808
REMAIN              0           0             0            0             0           0           0             0
TOTAL         263,415           0             0            0       263,415       1,607           0       261,808	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,268           0           0           0        11,268         28,073        28,073        26,795
2004         11,268           0           0           0        11,268         21,691        49,764        18,714
2005         11,268           0           0           0        11,268         18,396        68,160        14,368
2006         11,268           0           0           0        11,268         15,429        83,589        10,909
2007         11,268           0           0           0        11,268         12,760        96,349         8,168
2008         11,268           0           0           0        11,268         10,356       106,705         6,002
2009         11,268           0           0           0        11,268          8,195       114,900         4,300
2010         11,268           0           0           0        11,268          6,248       121,148         2,969
2011         11,268           0           0           0        11,268          4,496       125,644         1,935
2012         11,268           0           0           0        11,268          2,920       128,564         1,139
2013         11,268           0           0           0        11,268          1,501       130,065           532
2014          7,512           0           0           0         7,512            283       130,348            92
2015              0           0           0           0             0              0       130,348             0
2016              0           0           0           0             0              0       130,348             0
2017              0           0           0           0             0              0       130,348             0

SUBTOT      131,460           0           0           0       131,460        130,348                      95,923
REMAIN            0           0           0           0             0              0       130,348             0
TOTAL       131,460           0           0           0       131,460        130,348                      95,923

  LIFE OF EVALUATION IS 11.67 YEARS.
  FINAL PRODUCTION RATE: 42 BBLS/MO	

TENGASCO, INC. TABLE 151
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T13S-R21W PROVED
KELLER LEASE (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        58,589
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        45,903
REMARKS -                                                                                 15.00% -        37,348
                                                                                          20.00% -        31,316
                                                                                          25.00% -        26,889	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           562           0           0             492           0           0.000      27.29     0.00
2004     2           535           0           0             468           0           0.000      27.29     0.00
2005     2           510           0           0             446           0           0.000      27.29     0.00
2006     2           484           0           0             424           0           0.000      27.29     0.00
2007     2           462           0           0             404           0           0.000      27.29     0.00
2008     2           440           0           0             385           0           0.000      27.29     0.00
2009     2           418           0           0             366           0           0.000      27.29     0.00
2010     2           398           0           0             348           0           0.000      27.29     0.00
2011     2           380           0           0             332           0           0.000      27.29     0.00
2012     2           361           0           0             316           0           0.000      27.29     0.00
2013     2           343           0           0             301           0           0.000      27.29     0.00
2014     2           328           0           0             286           0           0.000      27.29     0.00
2015     2           311           0           0             272           0           0.000      27.29     0.00
2016     2           297           0           0             260           0           0.000      27.29     0.00
2017     2           282           0           0             247           0           0.000      27.29     0.00

SUB-TOTAL          6,111           0           0           5,347           0           0.000      27.29     0.00
REMAINDER            959           0           0             839           0           0.000      27.29     0.00
TOTAL              7,070           0           0           6,186           0           0.000      27.29     0.00

CUMULATIVE        49,858           0           0
ULTIMATE          56,928           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           13,421           0             0            0        13,421          82           0        13,339
2004           12,777           0             0            0        12,777          78           0        12,699
2005           12,164           0             0            0        12,164          74           0        12,090
2006           11,580           0             0            0        11,580          71           0        11,509
2007           11,024           0             0            0        11,024          67           0        10,957
2008           10,495           0             0            0        10,495          64           0        10,431
2009            9,992           0             0            0         9,992          61           0         9,931
2010            9,511           0             0            0         9,511          58           0         9,453
2011            9,055           0             0            0         9,055          55           0         9,000
2012            8,621           0             0            0         8,621          53           0         8,568
2013            8,206           0             0            0         8,206          50           0         8,156
2014            7,813           0             0            0         7,813          47           0         7,766
2015            7,438           0             0            0         7,438          46           0         7,392
2016            7,081           0             0            0         7,081          43           0         7,038
2017            6,740           0             0            0         6,740          41           0         6,699

SUB-TOT       145,918           0             0            0       145,918         890           0       145,028
REMAIN         22,905           0             0            0        22,905         140           0        22,765
TOTAL         168,823           0             0            0       168,823       1,030           0       167,793	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,752           0           0           0         4,752          8,587         8,587         8,178
2004          4,752           0           0           0         4,752          7,947        16,534         6,852
2005          4,752           0           0           0         4,752          7,338        23,872         5,727
2006          4,752           0           0           0         4,752          6,757        30,629         4,774
2007          4,752           0           0           0         4,752          6,205        36,834         3,968
2008          4,752           0           0           0         4,752          5,679        42,513         3,288
2009          4,752           0           0           0         4,752          5,179        47,692         2,714
2010          4,752           0           0           0         4,752          4,701        52,393         2,230
2011          4,752           0           0           0         4,752          4,248        56,641         1,825
2012          4,752           0           0           0         4,752          3,816        60,457         1,483
2013          4,752           0           0           0         4,752          3,404        63,861         1,198
2014          4,752           0           0           0         4,752          3,014        66,875           961
2015          4,752           0           0           0         4,752          2,640        69,515           761
2016          4,752           0           0           0         4,752          2,286        71,801           597
2017          4,752           0           0           0         4,752          1,947        73,748           460

SUBTOT       71,280           0           0           0        71,280         73,748                      45,016
REMAIN       18,154           0           0           0        18,154          4,611        78,359           887
TOTAL        89,434           0           0           0        89,434         78,359                      45,903

  LIFE OF EVALUATION IS 18.82 YEARS.
  FINAL PRODUCTION RATE: 19 BBLS/MO	

TENGASCO, INC. TABLE 152
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T13S-R21W PROVED
KELLER -A- LEASE (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        35,146
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        32,069
REMARKS -                                                                                 15.00% -        29,411
                                                                                          20.00% -        27,102
                                                                                          25.00% -        25,086	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         1,632           0           0           1,428           0           0.000      27.29     0.00
2004     3         1,522           0           0           1,331           0           0.000      27.29     0.00
2005     3         1,421           0           0           1,244           0           0.000      27.29     0.00
2006     3         1,330           0           0           1,164           0           0.000      27.29     0.00
2007     3         1,248           0           0           1,092           0           0.000      27.29     0.00
2008     3         1,174           0           0           1,027           0           0.000      27.29     0.00
2009     3           375           0           0             329           0           0.000      27.29     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          8,702           0           0           7,615           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              8,702           0           0           7,615           0           0.000      27.29     0.00

CUMULATIVE       102,577           0           0
ULTIMATE         111,279           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           38,979           0             0            0        38,979         238           0        38,741
2004           36,324           0             0            0        36,324         221           0        36,103
2005           33,933           0             0            0        33,933         207           0        33,726
2006           31,769           0             0            0        31,769         194           0        31,575
2007           29,807           0             0            0        29,807         182           0        29,625
2008           28,020           0             0            0        28,020         171           0        27,849
2009            8,971           0             0            0         8,971          55           0         8,916
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       207,803           0             0            0       207,803       1,268           0       206,535
REMAIN              0           0             0            0             0           0           0             0
TOTAL         207,803           0             0            0       207,803       1,268           0       206,535	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         26,496           0           0           0        26,496         12,245        12,245        11,677
2004         26,496           0           0           0        26,496          9,607        21,852         8,295
2005         26,496           0           0           0        26,496          7,230        29,082         5,653
2006         26,496           0           0           0        26,496          5,079        34,161         3,598
2007         26,496           0           0           0        26,496          3,129        37,290         2,009
2008         26,496           0           0           0        26,496          1,353        38,643           791
2009          8,832           0           0           0         8,832             84        38,727            46
2010              0           0           0           0             0              0        38,727             0
2011              0           0           0           0             0              0        38,727             0
2012              0           0           0           0             0              0        38,727             0
2013              0           0           0           0             0              0        38,727             0
2014              0           0           0           0             0              0        38,727             0
2015              0           0           0           0             0              0        38,727             0
2016              0           0           0           0             0              0        38,727             0
2017              0           0           0           0             0              0        38,727             0

SUBTOT      167,808           0           0           0       167,808         38,727                      32,069
REMAIN            0           0           0           0             0              0        38,727             0
TOTAL       167,808           0           0           0       167,808         38,727                      32,069

  LIFE OF EVALUATION IS 6.33 YEARS.
  FINAL PRODUCTION RATE: 93 BBLS/MO	

TENGASCO, INC. TABLE 153
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T10S-R15W PROVED
MAIER #1 (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.812500                                                                       5.00% -             0
FINAL   -   0.812500                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        11,113           0           0
ULTIMATE          11,113           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 154
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T10S-R15W PROVED
MAIER #1 BP (KSSC-LNSG) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.812500  0.676025                         27.29                               5.00% -       240,690
FINAL   -   0.812500  0.676025                         27.29                              10.00% -       197,208
REMARKS -                                                                                 15.00% -       165,414
                                                                                          20.00% -       141,491
                                                                                          25.00% -       123,017	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         3,446           0           0           2,330           0           0.000      27.29     0.00
2004     1         3,157           0           0           2,134           0           0.000      27.29     0.00
2005     1         2,892           0           0           1,955           0           0.000      27.29     0.00
2006     1         2,648           0           0           1,790           0           0.000      27.29     0.00
2007     1         2,426           0           0           1,640           0           0.000      27.29     0.00
2008     1         2,222           0           0           1,502           0           0.000      27.29     0.00
2009     1         2,035           0           0           1,376           0           0.000      27.29     0.00
2010     1         1,864           0           0           1,260           0           0.000      27.29     0.00
2011     1         1,707           0           0           1,154           0           0.000      27.29     0.00
2012     1         1,564           0           0           1,057           0           0.000      27.29     0.00
2013     1         1,432           0           0             968           0           0.000      27.29     0.00
2014     1         1,312           0           0             887           0           0.000      27.29     0.00
2015     1         1,202           0           0             813           0           0.000      27.29     0.00
2016     1         1,100           0           0             744           0           0.000      27.29     0.00
2017     1         1,008           0           0             681           0           0.000      27.29     0.00

SUB-TOTAL         30,015           0           0          20,291           0           0.000      27.29     0.00
REMAINDER          1,070           0           0             723           0           0.000      27.29     0.00
TOTAL             31,085           0           0          21,014           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          31,085           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           63,583           0             0            0        63,583         388           0        63,195
2004           58,238           0             0            0        58,238         355           0        57,883
2005           53,343           0             0            0        53,343         326           0        53,017
2006           48,859           0             0            0        48,859         298           0        48,561
2007           44,752           0             0            0        44,752         273           0        44,479
2008           40,990           0             0            0        40,990         250           0        40,740
2009           37,544           0             0            0        37,544         229           0        37,315
2010           34,388           0             0            0        34,388         209           0        34,179
2011           31,498           0             0            0        31,498         192           0        31,306
2012           28,850           0             0            0        28,850         176           0        28,674
2013           26,425           0             0            0        26,425         162           0        26,263
2014           24,203           0             0            0        24,203         147           0        24,056
2015           22,169           0             0            0        22,169         136           0        22,033
2016           20,306           0             0            0        20,306         123           0        20,183
2017           18,598           0             0            0        18,598         114           0        18,484

SUB-TOT       553,746           0             0            0       553,746       3,378           0       550,368
REMAIN         19,732           0             0            0        19,732         120           0        19,612
TOTAL         573,478           0             0            0       573,478       3,498           0       569,980	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         15,971           0       9,750           0        25,721         37,474        37,474        35,283
2004         15,970           0           0           0        15,970         41,913        79,387        36,148
2005         15,971           0           0           0        15,971         37,046       116,433        28,923
2006         15,970           0           0           0        15,970         32,591       149,024        23,034
2007         15,971           0           0           0        15,971         28,508       177,532        18,240
2008         15,970           0           0           0        15,970         24,770       202,302        14,346
2009         15,971           0           0           0        15,971         21,344       223,646        11,192
2010         15,970           0           0           0        15,970         18,209       241,855         8,643
2011         15,971           0           0           0        15,971         15,335       257,190         6,590
2012         15,970           0           0           0        15,970         12,704       269,894         4,942
2013         15,971           0           0           0        15,971         10,292       280,186         3,626
2014         15,970           0           0           0        15,970          8,086       288,272         2,579
2015         15,971           0           0           0        15,971          6,062       294,334         1,751
2016         15,970           0           0           0        15,970          4,213       298,547         1,103
2017         15,971           0           0           0        15,971          2,513       301,060           596

SUBTOT      239,558           0       9,750           0       249,308        301,060                     196,996
REMAIN       18,632           0           0           0        18,632            980       302,040           212
TOTAL       258,190           0       9,750           0       267,940        302,040                     197,208

  LIFE OF EVALUATION IS 16.17 YEARS.
  FINAL PRODUCTION RATE: 73 BBLS/MO	

TENGASCO, INC. TABLE 155
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SANDFORD FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T17S-R14W PROVED
BEN TEMPERO #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820312                         27.29                               5.00% -       253,046
FINAL   -   1.000000  0.820312                         27.29                              10.00% -       199,702
REMARKS -                                                                                 15.00% -       164,455
                                                                                          20.00% -       139,731
                                                                                          25.00% -       121,527	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         2,588           0           0           2,123           0           0.000      27.29     0.00
2004     1         2,313           0           0           1,897           0           0.000      27.29     0.00
2005     1         2,091           0           0           1,716           0           0.000      27.29     0.00
2006     1         1,907           0           0           1,564           0           0.000      27.29     0.00
2007     1         1,754           0           0           1,439           0           0.000      27.29     0.00
2008     1         1,623           0           0           1,331           0           0.000      27.29     0.00
2009     1         1,510           0           0           1,239           0           0.000      27.29     0.00
2010     1         1,411           0           0           1,158           0           0.000      27.29     0.00
2011     1         1,326           0           0           1,087           0           0.000      27.29     0.00
2012     1         1,250           0           0           1,025           0           0.000      27.29     0.00
2013     1         1,181           0           0             969           0           0.000      27.29     0.00
2014     1         1,120           0           0             919           0           0.000      27.29     0.00
2015     1         1,066           0           0             874           0           0.000      27.29     0.00
2016     1         1,015           0           0             833           0           0.000      27.29     0.00
2017     1           970           0           0             796           0           0.000      27.29     0.00

SUB-TOTAL         23,125           0           0          18,970           0           0.000      27.29     0.00
REMAINDER          7,877           0           0           6,461           0           0.000      27.29     0.00
TOTAL             31,002           0           0          25,431           0           0.000      27.29     0.00

CUMULATIVE       112,154           0           0
ULTIMATE         143,156           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           57,938           0             0            0        57,938         353           0        57,585
2004           51,780           0             0            0        51,780         316           0        51,464
2005           46,806           0             0            0        46,806         286           0        46,520
2006           42,700           0             0            0        42,700         260           0        42,440
2007           39,257           0             0            0        39,257         240           0        39,017
2008           36,327           0             0            0        36,327         221           0        36,106
2009           33,802           0             0            0        33,802         207           0        33,595
2010           31,606           0             0            0        31,606         192           0        31,414
2011           29,676           0             0            0        29,676         181           0        29,495
2012           27,969           0             0            0        27,969         171           0        27,798
2013           26,447           0             0            0        26,447         161           0        26,286
2014           25,081           0             0            0        25,081         153           0        24,928
2015           23,850           0             0            0        23,850         146           0        23,704
2016           22,733           0             0            0        22,733         138           0        22,595
2017           21,716           0             0            0        21,716         133           0        21,583

SUB-TOT       517,688           0             0            0       517,688       3,158           0       514,530
REMAIN        176,330           0             0            0       176,330       1,076           0       175,254
TOTAL         694,018           0             0            0       694,018       4,234           0       689,784	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         13,908           0           0           0        13,908         43,677        43,677        41,626
2004         13,908           0           0           0        13,908         37,556        81,233        32,397
2005         13,908           0           0           0        13,908         32,612       113,845        25,464
2006         13,908           0           0           0        13,908         28,532       142,377        20,165
2007         13,908           0           0           0        13,908         25,109       167,486        16,063
2008         13,908           0           0           0        13,908         22,198       189,684        12,855
2009         13,908           0           0           0        13,908         19,687       209,371        10,319
2010         13,908           0           0           0        13,908         17,506       226,877         8,307
2011         13,908           0           0           0        13,908         15,587       242,464         6,694
2012         13,908           0           0           0        13,908         13,890       256,354         5,401
2013         13,908           0           0           0        13,908         12,378       268,732         4,356
2014         13,908           0           0           0        13,908         11,020       279,752         3,511
2015         13,908           0           0           0        13,908          9,796       289,548         2,825
2016         13,908           0           0           0        13,908          8,687       298,235         2,268
2017         13,908           0           0           0        13,908          7,675       305,910         1,814

SUBTOT      208,620           0           0           0       208,620        305,910                     194,065
REMAIN      141,398           0           0           0       141,398         33,856       339,766         5,637
TOTAL       350,018           0           0           0       350,018        339,766                     199,702

  LIFE OF EVALUATION IS 25.17 YEARS.
  FINAL PRODUCTION RATE: 52 BBLS/MO	

TENGASCO, INC. TABLE 156
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SANDFORD FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T17S-R14W PROVED
BEN TEMPERO #5 PUD (ARBUCKLE) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820312                         27.29                               5.00% -       353,990
FINAL   -   1.000000  0.820312                         27.29                              10.00% -       238,543
REMARKS -                                                                                 15.00% -       168,969
                                                                                          20.00% -       124,043
                                                                                          25.00% -        93,420	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         3,782           0           0           3,102           0           0.000      27.29     0.00
2005     1         3,562           0           0           2,923           0           0.000      27.29     0.00
2006     1         2,857           0           0           2,343           0           0.000      27.29     0.00
2007     1         2,697           0           0           2,212           0           0.000      27.29     0.00
2008     1         2,547           0           0           2,090           0           0.000      27.29     0.00
2009     1         2,405           0           0           1,973           0           0.000      27.29     0.00
2010     1         2,272           0           0           1,863           0           0.000      27.29     0.00
2011     1         2,144           0           0           1,759           0           0.000      27.29     0.00
2012     1         2,026           0           0           1,662           0           0.000      27.29     0.00
2013     1         1,912           0           0           1,569           0           0.000      27.29     0.00
2014     1         1,806           0           0           1,481           0           0.000      27.29     0.00
2015     1         1,706           0           0           1,399           0           0.000      27.29     0.00
2016     1         1,610           0           0           1,321           0           0.000      27.29     0.00
2017     1         1,521           0           0           1,248           0           0.000      27.29     0.00

SUB-TOTAL         32,847           0           0          26,945           0           0.000      27.29     0.00
REMAINDER         13,138           0           0          10,777           0           0.000      27.29     0.00
TOTAL             45,985           0           0          37,722           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          45,985           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           84,667           0             0            0        84,667         516           0        84,151
2005           79,746           0             0            0        79,746         487           0        79,259
2006           63,943           0             0            0        63,943         390           0        63,553
2007           60,383           0             0            0        60,383         368           0        60,015
2008           57,019           0             0            0        57,019         348           0        56,671
2009           53,845           0             0            0        53,845         329           0        53,516
2010           50,845           0             0            0        50,845         310           0        50,535
2011           48,015           0             0            0        48,015         293           0        47,722
2012           45,340           0             0            0        45,340         276           0        45,064
2013           42,815           0             0            0        42,815         261           0        42,554
2014           40,431           0             0            0        40,431         247           0        40,184
2015           38,179           0             0            0        38,179         233           0        37,946
2016           36,053           0             0            0        36,053         220           0        35,833
2017           34,045           0             0            0        34,045         207           0        33,838

SUB-TOT       735,326           0             0            0       735,326       4,485           0       730,841
REMAIN        294,100           0             0            0       294,100       1,794           0       292,306
TOTAL       1,029,426           0             0            0     1,029,426       6,279           0     1,023,147	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,954           0     100,000           0       106,954        -22,803       -22,803       -20,740
2005         13,908           0           0           0        13,908         65,351        42,548        51,312
2006         13,908           0           0           0        13,908         49,645        92,193        35,070
2007         13,908           0           0           0        13,908         46,107       138,300        29,485
2008         13,908           0           0           0        13,908         42,763       181,063        24,754
2009         13,908           0           0           0        13,908         39,608       220,671        20,754
2010         13,908           0           0           0        13,908         36,627       257,298        17,374
2011         13,908           0           0           0        13,908         33,814       291,112        14,519
2012         13,908           0           0           0        13,908         31,156       322,268        12,110
2013         13,908           0           0           0        13,908         28,646       350,914        10,080
2014         13,908           0           0           0        13,908         26,276       377,190         8,369
2015         13,908           0           0           0        13,908         24,038       401,228         6,930
2016         13,908           0           0           0        13,908         21,925       423,153         5,723
2017         13,908           0           0           0        13,908         19,930       443,083         4,709

SUBTOT      187,758           0     100,000           0       287,758        443,083                     220,449
REMAIN      172,871           0           0           0       172,871        119,435       562,518        18,094
TOTAL       360,629           0     100,000           0       460,629        562,518                     238,543

  LIFE OF EVALUATION IS 27.43 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 157
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SCHWINDT FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T17S-R18W PROVED
JACOBS -B- #3 (CNGL-LNSG-MSSP-VIOL) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       194,131
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       153,919
REMARKS -                                                                                 15.00% -       126,446
                                                                                          20.00% -       106,834
                                                                                          25.00% -        92,289	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,729           0           0           1,513           0           0.000      27.29     0.00
2004     1         1,617           0           0           1,415           0           0.000      27.29     0.00
2005     1         1,512           0           0           1,323           0           0.000      27.29     0.00
2006     1         1,413           0           0           1,236           0           0.000      27.29     0.00
2007     1         1,322           0           0           1,157           0           0.000      27.29     0.00
2008     1         1,236           0           0           1,081           0           0.000      27.29     0.00
2009     1         1,155           0           0           1,011           0           0.000      27.29     0.00
2010     1         1,080           0           0             945           0           0.000      27.29     0.00
2011     1         1,010           0           0             884           0           0.000      27.29     0.00
2012     1           945           0           0             826           0           0.000      27.29     0.00
2013     1           883           0           0             773           0           0.000      27.29     0.00
2014     1           825           0           0             722           0           0.000      27.29     0.00
2015     1           772           0           0             676           0           0.000      27.29     0.00
2016     1           722           0           0             631           0           0.000      27.29     0.00
2017     1           675           0           0             591           0           0.000      27.29     0.00

SUB-TOTAL         16,896           0           0          14,784           0           0.000      27.29     0.00
REMAINDER          3,112           0           0           2,723           0           0.000      27.29     0.00
TOTAL             20,008           0           0          17,507           0           0.000      27.29     0.00

CUMULATIVE        75,445           0           0
ULTIMATE          95,453           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           41,292           0             0            0        41,292         252           0        41,040
2004           38,608           0             0            0        38,608         235           0        38,373
2005           36,099           0             0            0        36,099         221           0        35,878
2006           33,752           0             0            0        33,752         205           0        33,547
2007           31,558           0             0            0        31,558         193           0        31,365
2008           29,507           0             0            0        29,507         180           0        29,327
2009           27,589           0             0            0        27,589         168           0        27,421
2010           25,796           0             0            0        25,796         158           0        25,638
2011           24,119           0             0            0        24,119         147           0        23,972
2012           22,551           0             0            0        22,551         137           0        22,414
2013           21,086           0             0            0        21,086         129           0        20,957
2014           19,714           0             0            0        19,714         120           0        19,594
2015           18,434           0             0            0        18,434         113           0        18,321
2016           17,235           0             0            0        17,235         105           0        17,130
2017           16,115           0             0            0        16,115          98           0        16,017

SUB-TOT       403,455           0             0            0       403,455       2,461           0       400,994
REMAIN         74,303           0             0            0        74,303         453           0        73,850
TOTAL         477,758           0             0            0       477,758       2,914           0       474,844	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         10,548           0           0           0        10,548         30,492        30,492        29,044
2004         10,548           0           0           0        10,548         27,825        58,317        23,993
2005         10,548           0           0           0        10,548         25,330        83,647        19,771
2006         10,548           0           0           0        10,548         22,999       106,646        16,250
2007         10,548           0           0           0        10,548         20,817       127,463        13,315
2008         10,548           0           0           0        10,548         18,779       146,242        10,873
2009         10,548           0           0           0        10,548         16,873       163,115         8,844
2010         10,548           0           0           0        10,548         15,090       178,205         7,160
2011         10,548           0           0           0        10,548         13,424       191,629         5,766
2012         10,548           0           0           0        10,548         11,866       203,495         4,614
2013         10,548           0           0           0        10,548         10,409       213,904         3,664
2014         10,548           0           0           0        10,548          9,046       222,950         2,882
2015         10,548           0           0           0        10,548          7,773       230,723         2,243
2016         10,548           0           0           0        10,548          6,582       237,305         1,719
2017         10,548           0           0           0        10,548          5,469       242,774         1,293

SUBTOT      158,220           0           0           0       158,220        242,774                     151,431
REMAIN       60,651           0           0           0        60,651         13,199       255,973         2,488
TOTAL       218,871           0           0           0       218,871        255,973                     153,919

  LIFE OF EVALUATION IS 20.75 YEARS.
  FINAL PRODUCTION RATE: 37 BBLS/MO	

TENGASCO, INC. TABLE 158
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SPRING CREEK FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 32-T12S-R21W PROVED
RIDGWAY #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.779300                         27.29                               5.00% -       153,711
FINAL   -   1.000000  0.779300                         27.29                              10.00% -       128,849
REMARKS -                                                                                 15.00% -       110,152
                                                                                          20.00% -        95,770
                                                                                          25.00% -        84,474	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         2,315           0           0           1,804           0           0.000      27.29     0.00
2004     1         2,153           0           0           1,678           0           0.000      27.29     0.00
2005     1         2,002           0           0           1,560           0           0.000      27.29     0.00
2006     1         1,862           0           0           1,451           0           0.000      27.29     0.00
2007     1         1,732           0           0           1,350           0           0.000      27.29     0.00
2008     1         1,610           0           0           1,255           0           0.000      27.29     0.00
2009     1         1,498           0           0           1,167           0           0.000      27.29     0.00
2010     1         1,393           0           0           1,086           0           0.000      27.29     0.00
2011     1         1,296           0           0           1,009           0           0.000      27.29     0.00
2012     1         1,204           0           0             939           0           0.000      27.29     0.00
2013     1         1,121           0           0             873           0           0.000      27.29     0.00
2014     1         1,042           0           0             812           0           0.000      27.29     0.00
2015     1           969           0           0             755           0           0.000      27.29     0.00
2016     1           828           0           0             646           0           0.000      27.29     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         21,025           0           0          16,385           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             21,025           0           0          16,385           0           0.000      27.29     0.00

CUMULATIVE       111,917           0           0
ULTIMATE         132,942           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           49,233           0             0            0        49,233         300           0        48,933
2004           45,787           0             0            0        45,787         280           0        45,507
2005           42,581           0             0            0        42,581         259           0        42,322
2006           39,601           0             0            0        39,601         242           0        39,359
2007           36,829           0             0            0        36,829         225           0        36,604
2008           34,251           0             0            0        34,251         209           0        34,042
2009           31,853           0             0            0        31,853         194           0        31,659
2010           29,624           0             0            0        29,624         181           0        29,443
2011           27,550           0             0            0        27,550         168           0        27,382
2012           25,621           0             0            0        25,621         156           0        25,465
2013           23,828           0             0            0        23,828         145           0        23,683
2014           22,160           0             0            0        22,160         135           0        22,025
2015           20,609           0             0            0        20,609         126           0        20,483
2016           17,621           0             0            0        17,621         108           0        17,513
2017                0           0             0            0             0           0           0             0

SUB-TOT       447,148           0             0            0       447,148       2,728           0       444,420
REMAIN              0           0             0            0             0           0           0             0
TOTAL         447,148           0             0            0       447,148       2,728           0       444,420	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         18,456           0           0           0        18,456         30,477        30,477        29,036
2004         18,456           0           0           0        18,456         27,051        57,528        23,331
2005         18,456           0           0           0        18,456         23,866        81,394        18,633
2006         18,456           0           0           0        18,456         20,903       102,297        14,775
2007         18,456           0           0           0        18,456         18,148       120,445        11,612
2008         18,456           0           0           0        18,456         15,586       136,031         9,028
2009         18,456           0           0           0        18,456         13,203       149,234         6,924
2010         18,456           0           0           0        18,456         10,987       160,221         5,216
2011         18,456           0           0           0        18,456          8,926       169,147         3,838
2012         18,456           0           0           0        18,456          7,009       176,156         2,728
2013         18,456           0           0           0        18,456          5,227       181,383         1,843
2014         18,456           0           0           0        18,456          3,569       184,952         1,140
2015         18,456           0           0           0        18,456          2,027       186,979           587
2016         16,918           0           0           0        16,918            595       187,574           158
2017              0           0           0           0             0              0       187,574             0

SUBTOT      256,846           0           0           0       256,846        187,574                     128,849
REMAIN            0           0           0           0             0              0       187,574             0
TOTAL       256,846           0           0           0       256,846        187,574                     128,849

  LIFE OF EVALUATION IS 13.92 YEARS.
  FINAL PRODUCTION RATE: 73 BBLS/MO	

TENGASCO, INC. TABLE 159
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STOCKTON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 35-T7S-R17W PROVED
HINDMAN #1 (TOPEKA) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.809370                         27.29                               5.00% -        57,725
FINAL   -   1.000000  0.809370                         27.29                              10.00% -        44,269
REMARKS -                                                                                 15.00% -        35,492
                                                                                          20.00% -        29,453
                                                                                          25.00% -        25,102	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           685           0           0             554           0           0.000      27.29     0.00
2004     1           663           0           0             537           0           0.000      27.29     0.00
2005     1           641           0           0             519           0           0.000      27.29     0.00
2006     1           622           0           0             503           0           0.000      27.29     0.00
2007     1           601           0           0             487           0           0.000      27.29     0.00
2008     1           582           0           0             471           0           0.000      27.29     0.00
2009     1           563           0           0             456           0           0.000      27.29     0.00
2010     1           546           0           0             441           0           0.000      27.29     0.00
2011     1           528           0           0             427           0           0.000      27.29     0.00
2012     1           511           0           0             414           0           0.000      27.29     0.00
2013     1           494           0           0             400           0           0.000      27.29     0.00
2014     1           479           0           0             388           0           0.000      27.29     0.00
2015     1           464           0           0             375           0           0.000      27.29     0.00
2016     1           448           0           0             363           0           0.000      27.29     0.00
2017     1           435           0           0             352           0           0.000      27.29     0.00

SUB-TOTAL          8,262           0           0           6,687           0           0.000      27.29     0.00
REMAINDER          2,927           0           0           2,369           0           0.000      27.29     0.00
TOTAL             11,189           0           0           9,056           0           0.000      27.29     0.00

CUMULATIVE        50,095           0           0
ULTIMATE          61,284           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           15,126           0             0            0        15,126          92           0        15,034
2004           14,641           0             0            0        14,641          90           0        14,551
2005           14,174           0             0            0        14,174          86           0        14,088
2006           13,719           0             0            0        13,719          84           0        13,635
2007           13,281           0             0            0        13,281          81           0        13,200
2008           12,856           0             0            0        12,856          78           0        12,778
2009           12,444           0             0            0        12,444          76           0        12,368
2010           12,046           0             0            0        12,046          74           0        11,972
2011           11,660           0             0            0        11,660          71           0        11,589
2012           11,288           0             0            0        11,288          69           0        11,219
2013           10,926           0             0            0        10,926          66           0        10,860
2014           10,577           0             0            0        10,577          65           0        10,512
2015           10,238           0             0            0        10,238          62           0        10,176
2016            9,910           0             0            0         9,910          61           0         9,849
2017            9,594           0             0            0         9,594          58           0         9,536

SUB-TOT       182,480           0             0            0       182,480       1,113           0       181,367
REMAIN         64,656           0             0            0        64,656         395           0        64,261
TOTAL         247,136           0             0            0       247,136       1,508           0       245,628	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,296           0           0           0         7,296          7,738         7,738         7,369
2004          7,296           0           0           0         7,296          7,255        14,993         6,254
2005          7,296           0           0           0         7,296          6,792        21,785         5,300
2006          7,296           0           0           0         7,296          6,339        28,124         4,478
2007          7,296           0           0           0         7,296          5,904        34,028         3,776
2008          7,296           0           0           0         7,296          5,482        39,510         3,173
2009          7,296           0           0           0         7,296          5,072        44,582         2,658
2010          7,296           0           0           0         7,296          4,676        49,258         2,218
2011          7,296           0           0           0         7,296          4,293        53,551         1,843
2012          7,296           0           0           0         7,296          3,923        57,474         1,525
2013          7,296           0           0           0         7,296          3,564        61,038         1,255
2014          7,296           0           0           0         7,296          3,216        64,254         1,024
2015          7,296           0           0           0         7,296          2,880        67,134           831
2016          7,296           0           0           0         7,296          2,553        69,687           666
2017          7,296           0           0           0         7,296          2,240        71,927           530

SUBTOT      109,440           0           0           0       109,440         71,927                      42,900
REMAIN       56,544           0           0           0        56,544          7,717        79,644         1,369
TOTAL       165,984           0           0           0       165,984         79,644                      44,269

  LIFE OF EVALUATION IS 22.75 YEARS.
  FINAL PRODUCTION RATE: 28 BBLS/MO	

TENGASCO, INC. TABLE 160
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STOCKTON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T7S-R17W PROVED
STEBBINS #1 (HOWARD) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.925000  0.751570                         27.29                               5.00% -       103,340
FINAL   -   0.925000  0.751570                         27.29                              10.00% -        75,611
REMARKS -                                                                                 15.00% -        58,961
                                                                                          20.00% -        48,113
                                                                                          25.00% -        40,571	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           908           0           0             682           0           0.000      27.29     0.00
2004     1           876           0           0             659           0           0.000      27.29     0.00
2005     1           845           0           0             635           0           0.000      27.29     0.00
2006     1           816           0           0             613           0           0.000      27.29     0.00
2007     1           787           0           0             592           0           0.000      27.29     0.00
2008     1           760           0           0             570           0           0.000      27.29     0.00
2009     1           733           0           0             551           0           0.000      27.29     0.00
2010     1           707           0           0             532           0           0.000      27.29     0.00
2011     1           683           0           0             513           0           0.000      27.29     0.00
2012     1           658           0           0             495           0           0.000      27.29     0.00
2013     1           636           0           0             478           0           0.000      27.29     0.00
2014     1           613           0           0             461           0           0.000      27.29     0.00
2015     1           592           0           0             445           0           0.000      27.29     0.00
2016     1           572           0           0             429           0           0.000      27.29     0.00
2017     1           551           0           0             414           0           0.000      27.29     0.00

SUB-TOTAL         10,737           0           0           8,069           0           0.000      27.29     0.00
REMAINDER          6,344           0           0           4,769           0           0.000      27.29     0.00
TOTAL             17,081           0           0          12,838           0           0.000      27.29     0.00

CUMULATIVE        46,248           0           0
ULTIMATE          63,329           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           18,618           0             0            0        18,618         114           0        18,504
2004           17,966           0             0            0        17,966         109           0        17,857
2005           17,338           0             0            0        17,338         106           0        17,232
2006           16,730           0             0            0        16,730         102           0        16,628
2007           16,146           0             0            0        16,146          98           0        16,048
2008           15,580           0             0            0        15,580          96           0        15,484
2009           15,034           0             0            0        15,034          91           0        14,943
2010           14,509           0             0            0        14,509          89           0        14,420
2011           14,000           0             0            0        14,000          85           0        13,915
2012           13,511           0             0            0        13,511          83           0        13,428
2013           13,038           0             0            0        13,038          79           0        12,959
2014           12,581           0             0            0        12,581          77           0        12,504
2015           12,142           0             0            0        12,142          74           0        12,068
2016           11,716           0             0            0        11,716          71           0        11,645
2017           11,306           0             0            0        11,306          69           0        11,237

SUB-TOT       220,215           0             0            0       220,215       1,343           0       218,872
REMAIN        130,131           0             0            0       130,131         794           0       129,337
TOTAL         350,346           0             0            0       350,346       2,137           0       348,209	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,427           0           0           0         6,427         12,077        12,077        11,500
2004          6,427           0           0           0         6,427         11,430        23,507         9,853
2005          6,427           0           0           0         6,427         10,805        34,312         8,431
2006          6,427           0           0           0         6,427         10,201        44,513         7,205
2007          6,427           0           0           0         6,427          9,621        54,134         6,152
2008          6,426           0           0           0         6,426          9,058        63,192         5,243
2009          6,427           0           0           0         6,427          8,516        71,708         4,462
2010          6,427           0           0           0         6,427          7,993        79,701         3,790
2011          6,427           0           0           0         6,427          7,488        87,189         3,215
2012          6,427           0           0           0         6,427          7,001        94,190         2,721
2013          6,427           0           0           0         6,427          6,532       100,722         2,298
2014          6,427           0           0           0         6,427          6,077       106,799         1,936
2015          6,427           0           0           0         6,427          5,641       112,440         1,626
2016          6,427           0           0           0         6,427          5,218       117,658         1,362
2017          6,426           0           0           0         6,426          4,811       122,469         1,136

SUBTOT       96,403           0           0           0        96,403        122,469                      70,930
REMAIN       97,475           0           0           0        97,475         31,862       154,331         4,681
TOTAL       193,878           0           0           0       193,878        154,331                      75,611

  LIFE OF EVALUATION IS 30.17 YEARS.
  FINAL PRODUCTION RATE: 26 BBLS/MO	

                                  TENGASCO, INC.                   TABLE    161
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

STOCKTON FIELD, ROOKS COUNTY, KANSAS                                  OIL LEASE
  TENGASCO, INC. - OPERATOR   26-T7S-R17W                             PROVED
    WATTS #1                                                          PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.925000  0.809380                         27.29                               5.00% -        31,893
FINAL   -   0.925000  0.809380                         27.29                              10.00% -        27,227
REMARKS -                                                                                 15.00% -        23,599
                                                                                          20.00% -        20,730
                                                                                          25.00% -        18,427	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           714           0           0             578           0           0.000      27.29     0.00
2004     1           677           0           0             548           0           0.000      27.29     0.00
2005     1           644           0           0             521           0           0.000      27.29     0.00
2006     1           612           0           0             496           0           0.000      27.29     0.00
2007     1           581           0           0             470           0           0.000      27.29     0.00
2008     1           552           0           0             447           0           0.000      27.29     0.00
2009     1           525           0           0             424           0           0.000      27.29     0.00
2010     1           498           0           0             404           0           0.000      27.29     0.00
2011     1           474           0           0             383           0           0.000      27.29     0.00
2012     1           449           0           0             364           0           0.000      27.29     0.00
2013     1           428           0           0             346           0           0.000      27.29     0.00
2014     1           272           0           0             220           0           0.000      27.29     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          6,426           0           0           5,201           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              6,426           0           0           5,201           0           0.000      27.29     0.00

CUMULATIVE        42,692           0           0
ULTIMATE          49,118           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           15,761           0             0            0        15,761          96           0        15,665
2004           14,972           0             0            0        14,972          91           0        14,881
2005           14,224           0             0            0        14,224          87           0        14,137
2006           13,513           0             0            0        13,513          83           0        13,430
2007           12,838           0             0            0        12,838          78           0        12,760
2008           12,195           0             0            0        12,195          74           0        12,121
2009           11,586           0             0            0        11,586          71           0        11,515
2010           11,006           0             0            0        11,006          67           0        10,939
2011           10,456           0             0            0        10,456          64           0        10,392
2012            9,933           0             0            0         9,933          61           0         9,872
2013            9,437           0             0            0         9,437          57           0         9,380
2014            6,027           0             0            0         6,027          37           0         5,990
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       141,948           0             0            0       141,948         866           0       141,082
REMAIN              0           0             0            0             0           0           0             0
TOTAL         141,948           0             0            0       141,948         866           0       141,082	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          8,836           0           0           0         8,836          6,829         6,829         6,506
2004          8,835           0           0           0         8,835          6,046        12,875         5,215
2005          8,836           0           0           0         8,836          5,301        18,176         4,139
2006          8,835           0           0           0         8,835          4,595        22,771         3,248
2007          8,836           0           0           0         8,836          3,924        26,695         2,511
2008          8,836           0           0           0         8,836          3,285        29,980         1,904
2009          8,835           0           0           0         8,835          2,680        32,660         1,406
2010          8,836           0           0           0         8,836          2,103        34,763           999
2011          8,835           0           0           0         8,835          1,557        36,320           670
2012          8,836           0           0           0         8,836          1,036        37,356           404
2013          8,836           0           0           0         8,836            544        37,900           192
2014          5,890           0           0           0         5,890            100        38,000            33
2015              0           0           0           0             0              0        38,000             0
2016              0           0           0           0             0              0        38,000             0
2017              0           0           0           0             0              0        38,000             0

SUBTOT      103,082           0           0           0       103,082         38,000                      27,227
REMAIN            0           0           0           0             0              0        38,000             0
TOTAL       103,082           0           0           0       103,082         38,000                      27,227

  LIFE OF EVALUATION IS 11.67 YEARS.
  FINAL PRODUCTION RATE: 34 BBLS/MO	

TENGASCO, INC. TABLE 162
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STREMEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T16S-R16W PROVED
OCHS #1 & 3 (MISSISSIPPIAN) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF (A)   $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        24,527           0         182    (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE          24,527           0         182        SHRINKAGE FACTOR =   8.00 %	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 163
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STREMEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T16S-R16W PROVED
URBAN -D- LEASE (KSSC-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -        16,939
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        15,804
REMARKS -                                                                                 15.00% -        14,785
                                                                                          20.00% -        13,870
                                                                                          25.00% -        13,045	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2           552           0           0             483           0           0.000      27.29     0.00
2004     2           464           0           0             406           0           0.000      27.29     0.00
2005     2           392           0           0             343           0           0.000      27.29     0.00
2006     2           309           0           0             270           0           0.000      27.29     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          1,717           0           0           1,502           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              1,717           0           0           1,502           0           0.000      27.29     0.00

CUMULATIVE        58,413           0           0
ULTIMATE          60,130           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           13,170           0             0            0        13,170          80           0        13,090
2004           11,100           0             0            0        11,100          68           0        11,032
2005            9,356           0             0            0         9,356          57           0         9,299
2006            7,374           0             0            0         7,374          45           0         7,329
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        41,000           0             0            0        41,000         250           0        40,750
REMAIN              0           0             0            0             0           0           0             0
TOTAL          41,000           0             0            0        41,000         250           0        40,750	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          5,736           0           0           0         5,736          7,354         7,354         7,017
2004          5,736           0           0           0         5,736          5,296        12,650         4,577
2005          5,736           0           0           0         5,736          3,563        16,213         2,789
2006          5,332           0           0           0         5,332          1,997        18,210         1,421
2007              0           0           0           0             0              0        18,210             0
2008              0           0           0           0             0              0        18,210             0
2009              0           0           0           0             0              0        18,210             0
2010              0           0           0           0             0              0        18,210             0
2011              0           0           0           0             0              0        18,210             0
2012              0           0           0           0             0              0        18,210             0
2013              0           0           0           0             0              0        18,210             0
2014              0           0           0           0             0              0        18,210             0
2015              0           0           0           0             0              0        18,210             0
2016              0           0           0           0             0              0        18,210             0
2017              0           0           0           0             0              0        18,210             0

SUBTOT       22,540           0           0           0        22,540         18,210                      15,804
REMAIN            0           0           0           0             0              0        18,210             0
TOTAL        22,540           0           0           0        22,540         18,210                      15,804

  LIFE OF EVALUATION IS 3.93 YEARS.
  FINAL PRODUCTION RATE: 26 BBLS/MO	

TENGASCO, INC. TABLE 164
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
THACKER FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 29-T13S-R13W PROVED
THACKER #2 (KC-LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.847656                         27.29                               5.00% -        78,309
FINAL   -   1.000000  0.847656                         27.29                              10.00% -        70,566
REMARKS -                                                                                 15.00% -        64,031
                                                                                          20.00% -        58,471
                                                                                          25.00% -        53,707	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,611           0           0           1,366           0           0.000      27.29     0.00
2004     1         1,380           0           0           1,169           0           0.000      27.29     0.00
2005     1         1,181           0           0           1,001           0           0.000      27.29     0.00
2006     1         1,010           0           0             857           0           0.000      27.29     0.00
2007     1           866           0           0             733           0           0.000      27.29     0.00
2008     1           740           0           0             628           0           0.000      27.29     0.00
2009     1           634           0           0             537           0           0.000      27.29     0.00
2010     1           415           0           0             352           0           0.000      27.29     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          7,837           0           0           6,643           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              7,837           0           0           6,643           0           0.000      27.29     0.00

CUMULATIVE        24,304           0           0
ULTIMATE          32,141           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           37,277           0             0            0        37,277         227           0        37,050
2004           31,910           0             0            0        31,910         195           0        31,715
2005           27,315           0             0            0        27,315         167           0        27,148
2006           23,381           0             0            0        23,381         142           0        23,239
2007           20,014           0             0            0        20,014         122           0        19,892
2008           17,133           0             0            0        17,133         105           0        17,028
2009           14,665           0             0            0        14,665          89           0        14,576
2010            9,595           0             0            0         9,595          59           0         9,536
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       181,290           0             0            0       181,290       1,106           0       180,184
REMAIN              0           0             0            0             0           0           0             0
TOTAL         181,290           0             0            0       181,290       1,106           0       180,184	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,952           0           0           0        11,952         25,098        25,098        23,934
2004         11,952           0           0           0        11,952         19,763        44,861        17,063
2005         11,952           0           0           0        11,952         15,196        60,057        11,879
2006         11,952           0           0           0        11,952         11,287        71,344         7,989
2007         11,952           0           0           0        11,952          7,940        79,284         5,091
2008         11,952           0           0           0        11,952          5,076        84,360         2,949
2009         11,952           0           0           0        11,952          2,624        86,984         1,384
2010          8,964           0           0           0         8,964            572        87,556           277
2011              0           0           0           0             0              0        87,556             0
2012              0           0           0           0             0              0        87,556             0
2013              0           0           0           0             0              0        87,556             0
2014              0           0           0           0             0              0        87,556             0
2015              0           0           0           0             0              0        87,556             0
2016              0           0           0           0             0              0        87,556             0
2017              0           0           0           0             0              0        87,556             0

SUBTOT       92,628           0           0           0        92,628         87,556                      70,566
REMAIN            0           0           0           0             0              0        87,556             0
TOTAL        92,628           0           0           0        92,628         87,556                      70,566

  LIFE OF EVALUATION IS 7.75 YEARS.
  FINAL PRODUCTION RATE: 44 BBLS/MO	

TENGASCO, INC. TABLE 165
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
TRAPP FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T16S-R13W PROVED
DEUTSCH (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -           188
FINAL   -   1.000000  0.820313                         27.29                              10.00% -           185
REMARKS -                                                                                 15.00% -           183
                                                                                          20.00% -           181
                                                                                          25.00% -           178	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           316           0           0             259           0           0.000      27.29     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL            316           0           0             259           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                316           0           0             259           0           0.000      27.29     0.00

CUMULATIVE        17,270           0           0
ULTIMATE          17,586           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003            7,073           0             0            0         7,073          43           0         7,030
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT         7,073           0             0            0         7,073          43           0         7,030
REMAIN              0           0             0            0             0           0           0             0
TOTAL           7,073           0             0            0         7,073          43           0         7,030	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,840           0           0           0         6,840            190           190           185
2004              0           0           0           0             0              0           190             0
2005              0           0           0           0             0              0           190             0
2006              0           0           0           0             0              0           190             0
2007              0           0           0           0             0              0           190             0
2008              0           0           0           0             0              0           190             0
2009              0           0           0           0             0              0           190             0
2010              0           0           0           0             0              0           190             0
2011              0           0           0           0             0              0           190             0
2012              0           0           0           0             0              0           190             0
2013              0           0           0           0             0              0           190             0
2014              0           0           0           0             0              0           190             0
2015              0           0           0           0             0              0           190             0
2016              0           0           0           0             0              0           190             0
2017              0           0           0           0             0              0           190             0

SUBTOT        6,840           0           0           0         6,840            190                         185
REMAIN            0           0           0           0             0              0           190             0
TOTAL         6,840           0           0           0         6,840            190                         185

  LIFE OF EVALUATION IS 0.75 YEARS.
  FINAL PRODUCTION RATE: 34 BBLS/MO	

TENGASCO, INC. TABLE 166
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
TRAPP FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R13W PROVED
HOWLIER #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.937000  0.768633                         27.29                               5.00% -        82,536
FINAL   -   0.937000  0.768633                         27.29                              10.00% -        67,609
REMARKS -                                                                                 15.00% -        56,797
                                                                                          20.00% -        48,731
                                                                                          25.00% -        42,550	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,129           0           0             868           0           0.000      27.29     0.00
2004     1         1,061           0           0             815           0           0.000      27.29     0.00
2005     1           997           0           0             767           0           0.000      27.29     0.00
2006     1           938           0           0             720           0           0.000      27.29     0.00
2007     1           881           0           0             678           0           0.000      27.29     0.00
2008     1           828           0           0             636           0           0.000      27.29     0.00
2009     1           779           0           0             599           0           0.000      27.29     0.00
2010     1           732           0           0             562           0           0.000      27.29     0.00
2011     1           688           0           0             529           0           0.000      27.29     0.00
2012     1           647           0           0             497           0           0.000      27.29     0.00
2013     1           608           0           0             468           0           0.000      27.29     0.00
2014     1           571           0           0             439           0           0.000      27.29     0.00
2015     1           537           0           0             413           0           0.000      27.29     0.00
2016     1           505           0           0             388           0           0.000      27.29     0.00
2017     1           475           0           0             365           0           0.000      27.29     0.00

SUB-TOTAL         11,376           0           0           8,744           0           0.000      27.29     0.00
REMAINDER            518           0           0             398           0           0.000      27.29     0.00
TOTAL             11,894           0           0           9,142           0           0.000      27.29     0.00

CUMULATIVE        18,731           0           0
ULTIMATE          30,625           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           23,676           0             0            0        23,676         144           0        23,532
2004           22,255           0             0            0        22,255         136           0        22,119
2005           20,921           0             0            0        20,921         128           0        20,793
2006           19,665           0             0            0        19,665         120           0        19,545
2007           18,485           0             0            0        18,485         113           0        18,372
2008           17,376           0             0            0        17,376         106           0        17,270
2009           16,333           0             0            0        16,333          99           0        16,234
2010           15,353           0             0            0        15,353          94           0        15,259
2011           14,432           0             0            0        14,432          88           0        14,344
2012           13,567           0             0            0        13,567          83           0        13,484
2013           12,752           0             0            0        12,752          77           0        12,675
2014           11,987           0             0            0        11,987          73           0        11,914
2015           11,268           0             0            0        11,268          69           0        11,199
2016           10,592           0             0            0        10,592          65           0        10,527
2017            9,956           0             0            0         9,956          61           0         9,895

SUB-TOT       238,618           0             0            0       238,618       1,456           0       237,162
REMAIN         10,863           0             0            0        10,863          66           0        10,797
TOTAL         249,481           0             0            0       249,481       1,522           0       247,959	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          8,916           0           0           0         8,916         14,616        14,616        13,923
2004          8,917           0           0           0         8,917         13,202        27,818        11,385
2005          8,916           0           0           0         8,916         11,877        39,695         9,271
2006          8,917           0           0           0         8,917         10,628        50,323         7,510
2007          8,916           0           0           0         8,916          9,456        59,779         6,050
2008          8,917           0           0           0         8,917          8,353        68,132         4,837
2009          8,916           0           0           0         8,916          7,318        75,450         3,836
2010          8,917           0           0           0         8,917          6,342        81,792         3,010
2011          8,916           0           0           0         8,916          5,428        87,220         2,333
2012          8,917           0           0           0         8,917          4,567        91,787         1,776
2013          8,916           0           0           0         8,916          3,759        95,546         1,324
2014          8,917           0           0           0         8,917          2,997        98,543           956
2015          8,916           0           0           0         8,916          2,283       100,826           659
2016          8,917           0           0           0         8,917          1,610       102,436           422
2017          8,916           0           0           0         8,916            979       103,415           232

SUBTOT      133,747           0           0           0       133,747        103,415                      67,524
REMAIN       10,403           0           0           0        10,403            394       103,809            85
TOTAL       144,150           0           0           0       144,150        103,809                      67,609

  LIFE OF EVALUATION IS 16.17 YEARS.
  FINAL PRODUCTION RATE: 36 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    167
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

WEBSTER FIELD, ROOKS COUNTY, KANSAS                                   OIL LEASE
  TENGASCO, INC. - OPERATOR   33-T8S-R19W                             PROVED
    CERROW-CERROW -A- #1   (ARBUCKLE)                                 PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       101,804
FINAL   -   1.000000  0.875000                         27.29                              10.00% -        83,510
REMARKS -                                                                                 15.00% -        70,290
                                                                                          20.00% -        60,435
                                                                                          25.00% -        52,879	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,048           0           0             917           0           0.000      27.29     0.00
2004     1           964           0           0             843           0           0.000      27.29     0.00
2005     1           886           0           0             776           0           0.000      27.29     0.00
2006     1           816           0           0             714           0           0.000      27.29     0.00
2007     1           751           0           0             657           0           0.000      27.29     0.00
2008     1           690           0           0             604           0           0.000      27.29     0.00
2009     1           636           0           0             556           0           0.000      27.29     0.00
2010     1           584           0           0             511           0           0.000      27.29     0.00
2011     1           538           0           0             471           0           0.000      27.29     0.00
2012     1           494           0           0             433           0           0.000      27.29     0.00
2013     1           456           0           0             398           0           0.000      27.29     0.00
2014     1           418           0           0             366           0           0.000      27.29     0.00
2015     1           386           0           0             337           0           0.000      27.29     0.00
2016     1           354           0           0             310           0           0.000      27.29     0.00
2017     1           326           0           0             286           0           0.000      27.29     0.00

SUB-TOTAL          9,347           0           0           8,179           0           0.000      27.29     0.00
REMAINDER            554           0           0             484           0           0.000      27.29     0.00
TOTAL              9,901           0           0           8,663           0           0.000      27.29     0.00

CUMULATIVE        73,529           0           0
ULTIMATE          83,430           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           25,018           0             0            0        25,018         153           0        24,865
2004           23,017           0             0            0        23,017         140           0        22,877
2005           21,175           0             0            0        21,175         129           0        21,046
2006           19,481           0             0            0        19,481         119           0        19,362
2007           17,923           0             0            0        17,923         109           0        17,814
2008           16,489           0             0            0        16,489         101           0        16,388
2009           15,170           0             0            0        15,170          92           0        15,078
2010           13,956           0             0            0        13,956          86           0        13,870
2011           12,840           0             0            0        12,840          78           0        12,762
2012           11,812           0             0            0        11,812          72           0        11,740
2013           10,868           0             0            0        10,868          66           0        10,802
2014            9,998           0             0            0         9,998          61           0         9,937
2015            9,198           0             0            0         9,198          56           0         9,142
2016            8,463           0             0            0         8,463          52           0         8,411
2017            7,785           0             0            0         7,785          47           0         7,738

SUB-TOT       223,193           0             0            0       223,193       1,361           0       221,832
REMAIN         13,224           0             0            0        13,224          81           0        13,143
TOTAL         236,417           0             0            0       236,417       1,442           0       234,975	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,324           0           0           0         6,324         18,541        18,541        17,664
2004          6,324           0           0           0         6,324         16,553        35,094        14,275
2005          6,324           0           0           0         6,324         14,722        49,816        11,494
2006          6,324           0           0           0         6,324         13,038        62,854         9,214
2007          6,324           0           0           0         6,324         11,490        74,344         7,351
2008          6,324           0           0           0         6,324         10,064        84,408         5,828
2009          6,324           0           0           0         6,324          8,754        93,162         4,590
2010          6,324           0           0           0         6,324          7,546       100,708         3,582
2011          6,324           0           0           0         6,324          6,438       107,146         2,766
2012          6,324           0           0           0         6,324          5,416       112,562         2,107
2013          6,324           0           0           0         6,324          4,478       117,040         1,577
2014          6,324           0           0           0         6,324          3,613       120,653         1,152
2015          6,324           0           0           0         6,324          2,818       123,471           814
2016          6,324           0           0           0         6,324          2,087       125,558           546
2017          6,324           0           0           0         6,324          1,414       126,972           335

SUBTOT       94,860           0           0           0        94,860        126,972                      83,295
REMAIN       12,121           0           0           0        12,121          1,022       127,994           215
TOTAL       106,981           0           0           0       106,981        127,994                      83,510

  LIFE OF EVALUATION IS 16.92 YEARS.
  FINAL PRODUCTION RATE: 22 BBLS/MO	

TENGASCO, INC. TABLE 168
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WEBSTER FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R19W PROVED
LOWRY #1 (ARBUCKLE) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.847656                         27.29                               5.00% -         9,348
FINAL   -   1.000000  0.847656                         27.29                              10.00% -         8,653
REMARKS -                                                                                 15.00% -         8,038
                                                                                          20.00% -         7,492
                                                                                          25.00% -         7,006	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           567           0           0             481           0           0.000      27.29     0.00
2004     1           528           0           0             447           0           0.000      27.29     0.00
2005     1           490           0           0             416           0           0.000      27.29     0.00
2006     1           456           0           0             386           0           0.000      27.29     0.00
2007     1           425           0           0             360           0           0.000      27.29     0.00
2008     1            67           0           0              57           0           0.000      27.29     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          2,533           0           0           2,147           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              2,533           0           0           2,147           0           0.000      27.29     0.00

CUMULATIVE        20,014           0           0
ULTIMATE          22,547           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           13,120           0             0            0        13,120          80           0        13,040
2004           12,202           0             0            0        12,202          74           0        12,128
2005           11,347           0             0            0        11,347          70           0        11,277
2006           10,554           0             0            0        10,554          64           0        10,490
2007            9,814           0             0            0         9,814          60           0         9,754
2008            1,568           0             0            0         1,568           9           0         1,559
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        58,605           0             0            0        58,605         357           0        58,248
REMAIN              0           0             0            0             0           0           0             0
TOTAL          58,605           0             0            0        58,605         357           0        58,248	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,312           0           0           0         9,312          3,728         3,728         3,556
2004          9,312           0           0           0         9,312          2,816         6,544         2,432
2005          9,312           0           0           0         9,312          1,965         8,509         1,538
2006          9,312           0           0           0         9,312          1,178         9,687           836
2007          9,312           0           0           0         9,312            442        10,129           286
2008          1,552           0           0           0         1,552              7        10,136             5
2009              0           0           0           0             0              0        10,136             0
2010              0           0           0           0             0              0        10,136             0
2011              0           0           0           0             0              0        10,136             0
2012              0           0           0           0             0              0        10,136             0
2013              0           0           0           0             0              0        10,136             0
2014              0           0           0           0             0              0        10,136             0
2015              0           0           0           0             0              0        10,136             0
2016              0           0           0           0             0              0        10,136             0
2017              0           0           0           0             0              0        10,136             0

SUBTOT       48,112           0           0           0        48,112         10,136                       8,653
REMAIN            0           0           0           0             0              0        10,136             0
TOTAL        48,112           0           0           0        48,112         10,136                       8,653

  LIFE OF EVALUATION IS 5.17 YEARS.
  FINAL PRODUCTION RATE: 34 BBLS/MO	

TENGASCO, INC. TABLE 169
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WERTH NORTH FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 34-T12S-R20W PROVED
SCHNELLER LEASE (ABCK-LNSG) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.820313                         27.29                               5.00% -       169,184
FINAL   -   1.000000  0.820313                         27.29                              10.00% -       134,363
REMARKS -                                                                                 15.00% -       110,388
                                                                                          20.00% -        93,197
                                                                                          25.00% -        80,422	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         1,895           0           0           1,554           0           0.000      27.29     0.00
2004     3         1,800           0           0           1,477           0           0.000      27.29     0.00
2005     3         1,710           0           0           1,403           0           0.000      27.29     0.00
2006     3         1,625           0           0           1,333           0           0.000      27.29     0.00
2007     3         1,543           0           0           1,266           0           0.000      27.29     0.00
2008     3         1,467           0           0           1,203           0           0.000      27.29     0.00
2009     3         1,393           0           0           1,142           0           0.000      27.29     0.00
2010     3         1,323           0           0           1,086           0           0.000      27.29     0.00
2011     3         1,257           0           0           1,031           0           0.000      27.29     0.00
2012     3         1,194           0           0             980           0           0.000      27.29     0.00
2013     3         1,134           0           0             930           0           0.000      27.29     0.00
2014     3         1,078           0           0             884           0           0.000      27.29     0.00
2015     3         1,024           0           0             840           0           0.000      27.29     0.00
2016     3           973           0           0             798           0           0.000      27.29     0.00
2017     3           924           0           0             758           0           0.000      27.29     0.00

SUB-TOTAL         20,340           0           0          16,685           0           0.000      27.29     0.00
REMAINDER          3,558           0           0           2,919           0           0.000      27.29     0.00
TOTAL             23,898           0           0          19,604           0           0.000      27.29     0.00

CUMULATIVE       172,203           0           0
ULTIMATE         196,101           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           42,422           0             0            0        42,422         259           0        42,163
2004           40,300           0             0            0        40,300         246           0        40,054
2005           38,284           0             0            0        38,284         233           0        38,051
2006           36,370           0             0            0        36,370         222           0        36,148
2007           34,551           0             0            0        34,551         211           0        34,340
2008           32,824           0             0            0        32,824         200           0        32,624
2009           31,181           0             0            0        31,181         190           0        30,991
2010           29,623           0             0            0        29,623         181           0        29,442
2011           28,141           0             0            0        28,141         172           0        27,969
2012           26,733           0             0            0        26,733         163           0        26,570
2013           25,397           0             0            0        25,397         155           0        25,242
2014           24,127           0             0            0        24,127         147           0        23,980
2015           22,920           0             0            0        22,920         140           0        22,780
2016           21,773           0             0            0        21,773         132           0        21,641
2017           20,685           0             0            0        20,685         127           0        20,558

SUB-TOT       455,331           0             0            0       455,331       2,778           0       452,553
REMAIN         79,668           0             0            0        79,668         485           0        79,183
TOTAL         534,999           0             0            0       534,999       3,263           0       531,736	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         15,948           0           0           0        15,948         26,215        26,215        24,969
2004         15,948           0           0           0        15,948         24,106        50,321        20,784
2005         15,948           0           0           0        15,948         22,103        72,424        17,251
2006         15,948           0           0           0        15,948         20,200        92,624        14,272
2007         15,948           0           0           0        15,948         18,392       111,016        11,764
2008         15,948           0           0           0        15,948         16,676       127,692         9,655
2009         15,948           0           0           0        15,948         15,043       142,735         7,884
2010         15,948           0           0           0        15,948         13,494       156,229         6,403
2011         15,948           0           0           0        15,948         12,021       168,250         5,163
2012         15,948           0           0           0        15,948         10,622       178,872         4,130
2013         15,948           0           0           0        15,948          9,294       188,166         3,272
2014         15,948           0           0           0        15,948          8,032       196,198         2,559
2015         15,948           0           0           0        15,948          6,832       203,030         1,972
2016         15,948           0           0           0        15,948          5,693       208,723         1,487
2017         15,948           0           0           0        15,948          4,610       213,333         1,090

SUBTOT      239,220           0           0           0       239,220        213,333                     132,655
REMAIN       70,437           0           0           0        70,437          8,746       222,079         1,708
TOTAL       309,657           0           0           0       309,657        222,079                     134,363

  LIFE OF EVALUATION IS 19.42 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 170
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WESTHUSIN FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T9S-R16W PROVED
DOUGHERTY EAST #1 (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.934400  0.766500                         27.29                               5.00% -        97,751
FINAL   -   0.934400  0.766500                         27.29                              10.00% -        68,060
REMARKS -                                                                                 15.00% -        51,644
                                                                                          20.00% -        41,475
                                                                                          25.00% -        34,623	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1           686           0           0             525           0           0.000      27.29     0.00
2004     1           664           0           0             510           0           0.000      27.29     0.00
2005     1           645           0           0             495           0           0.000      27.29     0.00
2006     1           626           0           0             479           0           0.000      27.29     0.00
2007     1           607           0           0             465           0           0.000      27.29     0.00
2008     1           589           0           0             451           0           0.000      27.29     0.00
2009     1           571           0           0             438           0           0.000      27.29     0.00
2010     1           554           0           0             425           0           0.000      27.29     0.00
2011     1           537           0           0             411           0           0.000      27.29     0.00
2012     1           521           0           0             400           0           0.000      27.29     0.00
2013     1           505           0           0             387           0           0.000      27.29     0.00
2014     1           491           0           0             376           0           0.000      27.29     0.00
2015     1           475           0           0             365           0           0.000      27.29     0.00
2016     1           462           0           0             353           0           0.000      27.29     0.00
2017     1           447           0           0             343           0           0.000      27.29     0.00

SUB-TOTAL          8,380           0           0           6,423           0           0.000      27.29     0.00
REMAINDER          6,450           0           0           4,944           0           0.000      27.29     0.00
TOTAL             14,830           0           0          11,367           0           0.000      27.29     0.00

CUMULATIVE        44,009           0           0
ULTIMATE          58,839           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           14,339           0             0            0        14,339          87           0        14,252
2004           13,909           0             0            0        13,909          85           0        13,824
2005           13,492           0             0            0        13,492          83           0        13,409
2006           13,087           0             0            0        13,087          79           0        13,008
2007           12,695           0             0            0        12,695          78           0        12,617
2008           12,313           0             0            0        12,313          75           0        12,238
2009           11,945           0             0            0        11,945          73           0        11,872
2010           11,586           0             0            0        11,586          71           0        11,515
2011           11,238           0             0            0        11,238          68           0        11,170
2012           10,901           0             0            0        10,901          67           0        10,834
2013           10,574           0             0            0        10,574          64           0        10,510
2014           10,257           0             0            0        10,257          63           0        10,194
2015            9,949           0             0            0         9,949          60           0         9,889
2016            9,651           0             0            0         9,651          59           0         9,592
2017            9,361           0             0            0         9,361          57           0         9,304

SUB-TOT       175,297           0             0            0       175,297       1,069           0       174,228
REMAIN        134,914           0             0            0       134,914         823           0       134,091
TOTAL         310,211           0             0            0       310,211       1,892           0       308,319	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,317           0           0           0         4,317          9,935         9,935         9,460
2004          4,317           0           0           0         4,317          9,507        19,442         8,194
2005          4,317           0           0           0         4,317          9,092        28,534         7,094
2006          4,317           0           0           0         4,317          8,691        37,225         6,138
2007          4,317           0           0           0         4,317          8,300        45,525         5,306
2008          4,317           0           0           0         4,317          7,921        53,446         4,584
2009          4,316           0           0           0         4,316          7,556        61,002         3,959
2010          4,317           0           0           0         4,317          7,198        68,200         3,413
2011          4,317           0           0           0         4,317          6,853        75,053         2,942
2012          4,317           0           0           0         4,317          6,517        81,570         2,532
2013          4,317           0           0           0         4,317          6,193        87,763         2,179
2014          4,317           0           0           0         4,317          5,877        93,640         1,871
2015          4,317           0           0           0         4,317          5,572        99,212         1,606
2016          4,317           0           0           0         4,317          5,275       104,487         1,377
2017          4,317           0           0           0         4,317          4,987       109,474         1,178

SUBTOT       64,754           0           0           0        64,754        109,474                      61,833
REMAIN       83,635           0           0           0        83,635         50,456       159,930         6,227
TOTAL       148,389           0           0           0       148,389        159,930                      68,060

  LIFE OF EVALUATION IS 34.37 YEARS.
  FINAL PRODUCTION RATE: 20 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    171
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

WESTHUSIN FIELD, ROOKS COUNTY, KANSAS                              OIL LEASE
  TENGASCO, INC. - OPERATOR   18-T9S-R16W                          PROVED
    DOUGHERTY EAST #1 BP   (ARBUCKLE)                              BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.934400  0.766500                         27.29                               5.00% -        34,749
FINAL   -   0.934400  0.766500                         27.29                              10.00% -        21,895
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING.                                  15.00% -        13,837
                                                                                          20.00% -         8,769
                                                                                          25.00% -         5,573	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010     1           640           0           0             491           0           0.000      27.29     0.00
2011     1           960           0           0             735           0           0.000      27.29     0.00
2012     1           960           0           0             736           0           0.000      27.29     0.00
2013     1           640           0           0             491           0           0.000      27.29     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          3,200           0           0           2,453           0           0.000      27.29     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              3,200           0           0           2,453           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE           3,200           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010           13,387           0             0            0        13,387          82           0        13,305
2011           20,081           0             0            0        20,081         122           0        19,959
2012           20,082           0             0            0        20,082         123           0        19,959
2013           13,387           0             0            0        13,387          81           0        13,306
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        66,937           0             0            0        66,937         408           0        66,529
REMAIN              0           0             0            0             0           0           0             0
TOTAL          66,937           0             0            0        66,937         408           0        66,529	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0      11,213           0        11,213          2,092         2,092           822
2011              0           0           0           0             0         19,959        22,051         8,564
2012              0           0           0           0             0         19,959        42,010         7,753
2013              0           0           0           0             0         13,306        55,316         4,756
2014              0           0           0           0             0              0        55,316             0
2015              0           0           0           0             0              0        55,316             0
2016              0           0           0           0             0              0        55,316             0
2017              0           0           0           0             0              0        55,316             0

SUBTOT            0           0      11,213           0        11,213         55,316                      21,895
REMAIN            0           0           0           0             0              0        55,316             0
TOTAL             0           0      11,213           0        11,213         55,316                      21,895

  LIFE OF EVALUATION IS 10.67 YEARS.
  FINAL PRODUCTION RATE: 80 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    172
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

WESTHUSIN FIELD, ROOKS COUNTY, KANSAS                              OIL LEASE
  TENGASCO, INC. - OPERATOR   18-T9S-R16W                          PROVED
    DOUGHERTY EAST #2 PUD   (ARBUCKLE)                             UNDEVELOPED	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.934400  0.766500                         27.29                               5.00% -       292,849
FINAL   -   0.934400  0.766500                         27.29                              10.00% -       163,429
REMARKS -                                                                                 15.00% -        99,406
                                                                                          20.00% -        63,520
                                                                                          25.00% -        41,514	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         2,533           0           0           1,941           0           0.000      27.29     0.00
2005     1         1,774           0           0           1,361           0           0.000      27.29     0.00
2006     1         1,725           0           0           1,321           0           0.000      27.29     0.00
2007     1         1,675           0           0           1,284           0           0.000      27.29     0.00
2008     1         1,628           0           0           1,248           0           0.000      27.29     0.00
2009     1         1,581           0           0           1,212           0           0.000      27.29     0.00
2010     1         1,537           0           0           1,178           0           0.000      27.29     0.00
2011     1         1,493           0           0           1,145           0           0.000      27.29     0.00
2012     1         1,451           0           0           1,112           0           0.000      27.29     0.00
2013     1         1,409           0           0           1,080           0           0.000      27.29     0.00
2014     1         1,370           0           0           1,050           0           0.000      27.29     0.00
2015     1         1,330           0           0           1,020           0           0.000      27.29     0.00
2016     1         1,293           0           0             990           0           0.000      27.29     0.00
2017     1         1,256           0           0             963           0           0.000      27.29     0.00

SUB-TOTAL         22,055           0           0          16,905           0           0.000      27.29     0.00
REMAINDER         17,975           0           0          13,778           0           0.000      27.29     0.00
TOTAL             40,030           0           0          30,683           0           0.000      27.29     0.00

CUMULATIVE             0           0           0
ULTIMATE          40,030           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           52,983           0             0            0        52,983         323           0        52,660
2005           37,119           0             0            0        37,119         227           0        36,892
2006           36,069           0             0            0        36,069         220           0        35,849
2007           35,044           0             0            0        35,044         213           0        34,831
2008           34,050           0             0            0        34,050         208           0        33,842
2009           33,082           0             0            0        33,082         202           0        32,880
2010           32,144           0             0            0        32,144         196           0        31,948
2011           31,231           0             0            0        31,231         191           0        31,040
2012           30,344           0             0            0        30,344         185           0        30,159
2013           29,483           0             0            0        29,483         179           0        29,304
2014           28,646           0             0            0        28,646         175           0        28,471
2015           27,833           0             0            0        27,833         170           0        27,663
2016           27,042           0             0            0        27,042         165           0        26,877
2017           26,275           0             0            0        26,275         160           0        26,115

SUB-TOT       461,345           0             0            0       461,345       2,814           0       458,531
REMAIN        375,994           0             0            0       375,994       2,294           0       373,700
TOTAL         837,339           0             0            0       837,339       5,108           0       832,231	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          2,158           0      93,440           0        95,598        -42,938       -42,938       -37,406
2005          4,317           0           0           0         4,317         32,575       -10,363        25,413
2006          4,317           0           0           0         4,317         31,532        21,169        22,267
2007          4,317           0           0           0         4,317         30,514        51,683        19,506
2008          4,317           0           0           0         4,317         29,525        81,208        17,085
2009          4,317           0           0           0         4,317         28,563       109,771        14,962
2010          4,317           0           0           0         4,317         27,631       137,402        13,102
2011          4,317           0           0           0         4,317         26,723       164,125        11,470
2012          4,317           0           0           0         4,317         25,842       189,967        10,040
2013          4,317           0           0           0         4,317         24,987       214,954         8,788
2014          4,317           0           0           0         4,317         24,154       239,108         7,690
2015          4,317           0           0           0         4,317         23,346       262,454         6,728
2016          4,317           0           0           0         4,317         22,560       285,014         5,885
2017          4,317           0           0           0         4,317         21,798       306,812         5,148

SUBTOT       58,279           0      93,440           0       151,719        306,812                     130,678
REMAIN       81,167           0           0           0        81,167        292,533       599,345        32,751
TOTAL       139,446           0      93,440           0       232,886        599,345                     163,429

  LIFE OF EVALUATION IS 33.80 YEARS.
  FINAL PRODUCTION RATE: 60 BBLS/MO	

TENGASCO, INC. TABLE 173
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
YOHE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R18W PROVED
FINNESY LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       200,564
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       160,268
REMARKS -                                                                                 15.00% -       132,398
                                                                                          20.00% -       112,312
                                                                                          25.00% -        97,309	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     3         1,817           0           0           1,590           0           0.000      27.29     0.00
2004     3         1,690           0           0           1,479           0           0.000      27.29     0.00
2005     3         1,572           0           0           1,375           0           0.000      27.29     0.00
2006     3         1,462           0           0           1,279           0           0.000      27.29     0.00
2007     3         1,359           0           0           1,190           0           0.000      27.29     0.00
2008     3         1,264           0           0           1,106           0           0.000      27.29     0.00
2009     3         1,176           0           0           1,029           0           0.000      27.29     0.00
2010     3         1,094           0           0             956           0           0.000      27.29     0.00
2011     3         1,017           0           0             890           0           0.000      27.29     0.00
2012     3           945           0           0             828           0           0.000      27.29     0.00
2013     3           880           0           0             769           0           0.000      27.29     0.00
2014     3           818           0           0             716           0           0.000      27.29     0.00
2015     3           760           0           0             666           0           0.000      27.29     0.00
2016     3           708           0           0             619           0           0.000      27.29     0.00
2017     3           658           0           0             575           0           0.000      27.29     0.00

SUB-TOTAL         17,220           0           0          15,067           0           0.000      27.29     0.00
REMAINDER          2,623           0           0           2,296           0           0.000      27.29     0.00
TOTAL             19,843           0           0          17,363           0           0.000      27.29     0.00

CUMULATIVE        93,686           0           0
ULTIMATE         113,529           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           43,394           0             0            0        43,394         265           0        43,129
2004           40,356           0             0            0        40,356         246           0        40,110
2005           37,532           0             0            0        37,532         229           0        37,303
2006           34,904           0             0            0        34,904         213           0        34,691
2007           32,461           0             0            0        32,461         198           0        32,263
2008           30,189           0             0            0        30,189         184           0        30,005
2009           28,075           0             0            0        28,075         171           0        27,904
2010           26,110           0             0            0        26,110         159           0        25,951
2011           24,283           0             0            0        24,283         149           0        24,134
2012           22,582           0             0            0        22,582         137           0        22,445
2013           21,002           0             0            0        21,002         128           0        20,874
2014           19,532           0             0            0        19,532         120           0        19,412
2015           18,165           0             0            0        18,165         110           0        18,055
2016           16,893           0             0            0        16,893         103           0        16,790
2017           15,710           0             0            0        15,710          96           0        15,614

SUB-TOT       411,188           0             0            0       411,188       2,508           0       408,680
REMAIN         62,637           0             0            0        62,637         382           0        62,255
TOTAL         473,825           0             0            0       473,825       2,890           0       470,935	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         10,512           0           0           0        10,512         32,617        32,617        31,070
2004         10,512           0           0           0        10,512         29,598        62,215        25,522
2005         10,512           0           0           0        10,512         26,791        89,006        20,913
2006         10,512           0           0           0        10,512         24,179       113,185        17,085
2007         10,512           0           0           0        10,512         21,751       134,936        13,913
2008         10,512           0           0           0        10,512         19,493       154,429        11,287
2009         10,512           0           0           0        10,512         17,392       171,821         9,116
2010         10,512           0           0           0        10,512         15,439       187,260         7,326
2011         10,512           0           0           0        10,512         13,622       200,882         5,852
2012         10,512           0           0           0        10,512         11,933       212,815         4,640
2013         10,512           0           0           0        10,512         10,362       223,177         3,648
2014         10,512           0           0           0        10,512          8,900       232,077         2,836
2015         10,512           0           0           0        10,512          7,543       239,620         2,176
2016         10,512           0           0           0        10,512          6,278       245,898         1,640
2017         10,512           0           0           0        10,512          5,102       251,000         1,207

SUBTOT      157,680           0           0           0       157,680        251,000                     158,231
REMAIN       51,684           0           0           0        51,684         10,571       261,571         2,037
TOTAL       209,364           0           0           0       209,364        261,571                     160,268

  LIFE OF EVALUATION IS 19.92 YEARS.
  FINAL PRODUCTION RATE: 37 BBLS/MO	

TENGASCO, INC. TABLE 174
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
YOHE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R18W PROVED
MOSHER LEASE (LANSING) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         27.29                               5.00% -       430,724
FINAL   -   1.000000  0.875000                         27.29                              10.00% -       306,143
REMARKS -                                                                                 15.00% -       235,799
                                                                                          20.00% -       191,379
                                                                                          25.00% -       160,984	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     2         2,342           0           0           2,049           0           0.000      27.29     0.00
2004     2         2,229           0           0           1,951           0           0.000      27.29     0.00
2005     2         2,123           0           0           1,857           0           0.000      27.29     0.00
2006     2         2,021           0           0           1,768           0           0.000      27.29     0.00
2007     2         1,923           0           0           1,683           0           0.000      27.29     0.00
2008     2         1,831           0           0           1,603           0           0.000      27.29     0.00
2009     2         1,744           0           0           1,525           0           0.000      27.29     0.00
2010     2         1,660           0           0           1,453           0           0.000      27.29     0.00
2011     2         1,580           0           0           1,382           0           0.000      27.29     0.00
2012     2         1,504           0           0           1,316           0           0.000      27.29     0.00
2013     2         1,432           0           0           1,253           0           0.000      27.29     0.00
2014     2         1,363           0           0           1,193           0           0.000      27.29     0.00
2015     2         1,298           0           0           1,136           0           0.000      27.29     0.00
2016     2         1,235           0           0           1,081           0           0.000      27.29     0.00
2017     2         1,177           0           0           1,029           0           0.000      27.29     0.00

SUB-TOTAL         25,462           0           0          22,279           0           0.000      27.29     0.00
REMAINDER         15,803           0           0          13,828           0           0.000      27.29     0.00
TOTAL             41,265           0           0          36,107           0           0.000      27.29     0.00

CUMULATIVE        70,457           0           0
ULTIMATE         111,722           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           55,922           0             0            0        55,922         341           0        55,581
2004           53,238           0             0            0        53,238         325           0        52,913
2005           50,683           0             0            0        50,683         309           0        50,374
2006           48,250           0             0            0        48,250         294           0        47,956
2007           45,934           0             0            0        45,934         281           0        45,653
2008           43,729           0             0            0        43,729         266           0        43,463
2009           41,630           0             0            0        41,630         254           0        41,376
2010           39,632           0             0            0        39,632         242           0        39,390
2011           37,729           0             0            0        37,729         230           0        37,499
2012           35,918           0             0            0        35,918         219           0        35,699
2013           34,195           0             0            0        34,195         209           0        33,986
2014           32,553           0             0            0        32,553         198           0        32,355
2015           30,990           0             0            0        30,990         189           0        30,801
2016           29,503           0             0            0        29,503         180           0        29,323
2017           28,087           0             0            0        28,087         172           0        27,915

SUB-TOT       607,993           0             0            0       607,993       3,709           0       604,284
REMAIN        377,355           0             0            0       377,355       2,302           0       375,053
TOTAL         985,348           0             0            0       985,348       6,011           0       979,337	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,680           0           0           0         7,680         47,901        47,901        45,614
2004          7,680           0           0           0         7,680         45,233        93,134        38,992
2005          7,680           0           0           0         7,680         42,694       135,828        33,314
2006          7,680           0           0           0         7,680         40,276       176,104        28,448
2007          7,680           0           0           0         7,680         37,973       214,077        24,280
2008          7,680           0           0           0         7,680         35,783       249,860        20,711
2009          7,680           0           0           0         7,680         33,696       283,556        17,654
2010          7,680           0           0           0         7,680         31,710       315,266        15,039
2011          7,680           0           0           0         7,680         29,819       345,085        12,802
2012          7,680           0           0           0         7,680         28,019       373,104        10,889
2013          7,680           0           0           0         7,680         26,306       399,410         9,254
2014          7,680           0           0           0         7,680         24,675       424,085         7,858
2015          7,680           0           0           0         7,680         23,121       447,206         6,665
2016          7,680           0           0           0         7,680         21,643       468,849         5,647
2017          7,680           0           0           0         7,680         20,235       489,084         4,780

SUBTOT      115,200           0           0           0       115,200        489,084                     281,947
REMAIN      176,640           0           0           0       176,640        198,413       687,497        24,196
TOTAL       291,840           0           0           0       291,840        687,497                     306,143

  LIFE OF EVALUATION IS 38.00 YEARS.
  FINAL PRODUCTION RATE: 31 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    175
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

ALL FIELDS, RUSH COUNTY, KANSAS                                    GAS LEASE
  TENGASCO, INC. - OPERATOR                                        PROVED
    OTIS COMPRESSOR STATION   (ALL)                                PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -      -888,028
FINAL   -   1.000000                                                                      10.00% -      -506,804
REMARKS -                                                                                 15.00% -      -334,021
                                                                                          20.00% -      -243,820
                                                                                          25.00% -      -190,760	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         43,728           0           0           0        43,728        -43,728       -43,728       -41,621
2004         43,728           0           0           0        43,728        -43,728       -87,456       -37,676
2005         44,381           0           0           0        44,381        -44,381      -131,837       -34,605
2006         45,712           0           0           0        45,712        -45,712      -177,549       -32,265
2007         47,083           0           0           0        47,083        -47,083      -224,632       -30,083
2008         48,496           0           0           0        48,496        -48,496      -273,128       -28,048
2009         49,951           0           0           0        49,951        -49,951      -323,079       -26,151
2010         51,449           0           0           0        51,449        -51,449      -374,528       -24,383
2011         52,993           0           0           0        52,993        -52,993      -427,521       -22,734
2012         54,583           0           0           0        54,583        -54,583      -482,104       -21,196
2013         56,220           0           0           0        56,220        -56,220      -538,324       -19,763
2014         57,907           0           0           0        57,907        -57,907      -596,231       -18,426
2015         59,644           0           0           0        59,644        -59,644      -655,875       -17,180
2016         61,433           0           0           0        61,433        -61,433      -717,308       -16,018
2017         63,276           0           0           0        63,276        -63,276      -780,584       -14,934

SUBTOT      780,584           0           0           0       780,584       -780,584                    -385,083
REMAIN    1,086,176           0           0           0     1,086,176     -1,086,176    -1,866,760      -121,721
TOTAL     1,866,760           0           0           0     1,866,760     -1,866,760                    -506,804

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    176
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

VARIOUS FIELD, ALL COUNTY, KANSAS                                  OIL LEASE
  TENGASCO, INC. - OPERATOR                                        PROVED
    KANSAS FIXED COSTS 1PDP   (ALL)                                PRODUCING	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -    -4,061,130
FINAL   -   1.000000                                                                      10.00% -    -2,736,220
REMARKS -                                                                                 15.00% -    -2,007,625
                                                                                          20.00% -    -1,565,876
                                                                                          25.00% -    -1,277,130	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003        355,560           0           0           0       355,560       -355,560      -355,560      -338,428
2004        308,172           0           0           0       308,172       -308,172      -663,732      -265,520
2005        299,364           0           0           0       299,364       -299,364      -963,096      -233,482
2006        309,636           0           0           0       309,636       -309,636    -1,272,732      -218,603
2007        309,636           0           0           0       309,636       -309,636    -1,582,368      -197,883
2008        309,636           0           0           0       309,636       -309,636    -1,892,004      -179,125
2009        313,272           0           0           0       313,272       -313,272    -2,205,276      -164,051
2010        313,272           0           0           0       313,272       -313,272    -2,518,548      -148,501
2011        313,272           0           0           0       313,272       -313,272    -2,831,820      -134,424
2012        313,272           0           0           0       313,272       -313,272    -3,145,092      -121,683
2013        313,272           0           0           0       313,272       -313,272    -3,458,364      -110,149
2014        315,564           0           0           0       315,564       -315,564    -3,773,928      -100,438
2015        315,564           0           0           0       315,564       -315,564    -4,089,492       -90,917
2016        315,564           0           0           0       315,564       -315,564    -4,405,056       -82,300
2017        315,564           0           0           0       315,564       -315,564    -4,720,620       -74,498

SUBTOT    4,720,620           0           0           0     4,720,620     -4,720,620                  -2,460,002
REMAIN    2,088,464           0           0           0     2,088,464     -2,088,464    -6,809,084      -276,218
TOTAL     6,809,084           0           0           0     6,809,084     -6,809,084                  -2,736,220

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    177
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

VARIOUS FIELD, ALL COUNTY, KANSAS                                  OIL LEASE
  TENGASCO, INC. - OPERATOR                                        PROVED	

KANSAS FIXED COSTS 2PBP (ALL) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -      -130,869
FINAL   -   1.000000                                                                      10.00% -      -103,599
REMARKS -                                                                                 15.00% -       -83,830
                                                                                          20.00% -       -69,148
                                                                                          25.00% -       -57,995	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,440           0           0           0         4,440         -4,440        -4,440        -4,226
2004         21,000           0           0           0        21,000        -21,000       -25,440       -18,094
2005         24,468           0           0           0        24,468        -24,468       -49,908       -19,083
2006         19,776           0           0           0        19,776        -19,776       -69,684       -13,962
2007         17,040           0           0           0        17,040        -17,040       -86,724       -10,890
2008         17,040           0           0           0        17,040        -17,040      -103,764        -9,857
2009         13,116           0           0           0        13,116        -13,116      -116,880        -6,869
2010         10,948           0           0           0        10,948        -10,948      -127,828        -5,189
2011         10,948           0           0           0        10,948        -10,948      -138,776        -4,698
2012         10,948           0           0           0        10,948        -10,948      -149,724        -4,253
2013          9,768           0           0           0         9,768         -9,768      -159,492        -3,434
2014          5,892           0           0           0         5,892         -5,892      -165,384        -1,876
2015          4,056           0           0           0         4,056         -4,056      -169,440        -1,168
2016              0           0           0           0             0              0      -169,440             0
2017              0           0           0           0             0              0      -169,440             0

SUBTOT      169,440           0           0           0       169,440       -169,440                    -103,599
REMAIN            0           0           0           0             0              0      -169,440             0
TOTAL       169,440           0           0           0       169,440       -169,440                    -103,599

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    178
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

VARIOUS FIELD, ALL COUNTY, KANSAS                                  OIL LEASE
  TENGASCO, INC. - OPERATOR                                        PROVED	

KANSAS FIXED COSTS 3PUD (ALL) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -      -474,704
FINAL   -   1.000000                                                                      10.00% -      -283,607
REMARKS -                                                                                 15.00% -      -190,844
                                                                                          20.00% -      -138,566
                                                                                          25.00% -      -105,915	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004         30,828           0           0           0        30,828        -30,828       -30,828       -26,561
2005         36,168           0           0           0        36,168        -36,168       -66,996       -28,209
2006         32,412           0           0           0        32,412        -32,412       -99,408       -22,883
2007         32,412           0           0           0        32,412        -32,412      -131,820       -20,713
2008         32,412           0           0           0        32,412        -32,412      -164,232       -18,751
2009         35,582           0           0           0        35,582        -35,582      -199,814       -18,633
2010         35,583           0           0           0        35,583        -35,583      -235,397       -16,868
2011         35,582           0           0           0        35,582        -35,582      -270,979       -15,268
2012         35,583           0           0           0        35,583        -35,583      -306,562       -13,821
2013         35,582           0           0           0        35,582        -35,582      -342,144       -12,511
2014         39,984           0           0           0        39,984        -39,984      -382,128       -12,726
2015         39,984           0           0           0        39,984        -39,984      -422,112       -11,520
2016         39,984           0           0           0        39,984        -39,984      -462,096       -10,428
2017         39,984           0           0           0        39,984        -39,984      -502,080        -9,439

SUBTOT      502,080           0           0           0       502,080       -502,080                    -238,331
REMAIN      456,202           0           0           0       456,202       -456,202      -958,282       -45,276
TOTAL       958,282           0           0           0       958,282       -958,282                    -283,607

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 179
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROVED
TENNESSEE PROPERTIES ALL CATEGORIES

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    49,866,999
FINAL   -                                                                                 10.00% -    36,230,728
REMARKS -                                                                                 15.00% -    28,179,286
                                                                                          20.00% -    22,750,068
                                                                                          25.00% -    18,830,703	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003    43        46,014           0       1,234          33,932           0         958.371      26.90     4.22
2004    64        32,586           0       2,620          24,265           0       2,002.464      26.90     4.22
2005    75        26,594           0       2,642          19,888           0       2,105.680      26.90     4.22
2006    83        15,982           0       2,752          12,422           0       2,216.311      26.90     4.22
2007    85        10,643           0       2,483           8,335           0       2,007.372      26.90     4.22
2008    82         6,904           0       1,959           5,380           0       1,568.839      26.90     4.22
2009    74         4,545           0       1,605           3,539           0       1,273.016      26.90     4.22
2010    69         3,238           0       1,303           2,682           0       1,022.548      26.90     4.22
2011    57         2,363           0       1,218           2,068           0         953.057      26.90     4.22
2012    48         1,934           0         943           1,692           0         734.624      26.90     4.22
2013    45         1,584           0         859           1,385           0         652.929      26.90     4.22
2014    43         1,299           0         759           1,138           0         584.687      26.90     4.22
2015    42         1,067           0         657             933           0         500.666      26.90     4.22
2016    35           618           0         512             541           0         387.053      26.90     4.22
2017    31           107           0         475              93           0         356.961      26.90     4.22

SUB-TOTAL        155,478           0      22,021         118,293           0      17,324.578      26.90     4.22
REMAINDER         70,978           0       8,339          49,139           0       6,173.998      26.90     4.22
TOTAL            226,456           0      30,360         167,432           0      23,498.576      26.90     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          912,715           0     4,044,326            0     4,957,041      27,383     121,331     4,808,327
2004          652,789           0     8,450,400            0     9,103,189      19,583     253,514     8,830,092
2005          534,957           0     8,885,969            0     9,420,926      16,048     266,573     9,138,305
2006          334,175           0     9,352,832            0     9,687,007      10,026     280,590     9,396,391
2007          224,215           0     8,471,106            0     8,695,321       6,727     254,129     8,434,465
2008          144,702           0     6,620,503            0     6,765,205       4,341     198,617     6,562,247
2009           95,208           0     5,372,124            0     5,467,332       2,856     161,159     5,303,317
2010           72,133           0     4,315,149            0     4,387,282       2,164     129,454     4,255,664
2011           55,629           0     4,021,897            0     4,077,526       1,668     120,658     3,955,200
2012           45,514           0     3,100,116            0     3,145,630       1,367      93,002     3,051,261
2013           37,283           0     2,755,360            0     2,792,643       1,118      82,664     2,708,861
2014           30,581           0     2,467,378            0     2,497,959         917      74,016     2,423,026
2015           25,114           0     2,112,808            0     2,137,922         754      63,392     2,073,776
2016           14,549           0     1,633,367            0     1,647,916         436      48,997     1,598,483
2017            2,510           0     1,506,371            0     1,508,881          76      45,190     1,463,615

SUB-TOT     3,182,074           0    73,109,706            0    76,291,780      95,464   2,193,286    74,003,030
REMAIN      1,321,831           0    26,054,275            0    27,376,106      39,655     781,629    26,554,822
TOTAL       4,503,905           0    99,163,981            0   103,667,886     135,119   2,974,915   100,557,852	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003        231,868           0   1,685,000           0     1,916,868      2,891,459     2,891,459     2,716,576
2004        374,896           0   3,670,000           0     4,044,896      4,785,196     7,676,655     4,083,227
2005        459,868           0   2,425,000           0     2,884,868      6,253,437    13,930,092     4,876,498
2006        535,571           0   1,815,000           0     2,350,571      7,045,820    20,975,912     4,970,425
2007        573,419           0     625,000           0     1,198,419      7,236,046    28,211,958     4,621,640
2008        530,400           0      20,000           0       550,400      6,011,847    34,223,805     3,484,673
2009        480,340           0           0           0       480,340      4,822,977    39,046,782     2,530,438
2010        427,826           0           0           0       427,826      3,827,838    42,874,620     1,818,406
2011        362,346           0      30,000           0       392,346      3,562,854    46,437,474     1,529,361
2012        311,250           0           0           0       311,250      2,740,011    49,177,485     1,066,046
2013        297,766           0      10,000           0       307,766      2,401,095    51,578,580       845,112
2014        293,386           0      25,000           0       318,386      2,104,640    53,683,220       670,968
2015        270,139           0           0           0       270,139      1,803,637    55,486,857       520,772
2016        217,843           0           0           0       217,843      1,380,640    56,867,497       360,533
2017        200,400           0      20,000           0       220,400      1,243,215    58,110,712       293,620

SUBTOT    5,567,318           0  10,325,000           0    15,892,318     58,110,712                  34,388,295
REMAIN    3,601,692           0     265,000           0     3,866,692     22,688,130    80,798,842     1,842,433
TOTAL     9,169,010           0  10,590,000           0    19,759,010     80,798,842                  36,230,728

  LIFE OF SUMMARY IS 50.00 YEARS.	

TENGASCO, INC. TABLE 180
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     8,341,433
FINAL   -                                                                                 10.00% -     6,286,395
REMARKS -                                                                                 15.00% -     5,099,074
                                                                                          20.00% -     4,321,003
                                                                                          25.00% -     3,767,390	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003    25         9,490           0         477           7,819           0         353.110      26.90     4.22
2004    24         7,603           0         380           6,230           0         279.279      26.90     4.22
2005    24         6,097           0         322           4,969           0         235.868      26.90     4.22
2006    22         4,895           0         280           3,963           0         206.479      26.90     4.22
2007    21         3,935           0         253           3,164           0         185.899      26.90     4.22
2008    21         3,165           0         233           2,528           0         170.151      26.90     4.22
2009    21         2,550           0         215           2,021           0         157.447      26.90     4.22
2010    21         1,799           0         200           1,504           0         146.905      26.90     4.22
2011    20         1,298           0         187           1,136           0         136.370      26.90     4.22
2012    18         1,028           0         172             900           0         126.837      26.90     4.22
2013    18           815           0         166             712           0         119.954      26.90     4.22
2014    18           645           0         155             565           0         113.569      26.90     4.22
2015    17           511           0         147             447           0         106.251      26.90     4.22
2016    17           145           0         135             127           0          99.500      26.90     4.22
2017    15             0           0         126               0           0          94.142       0.00     4.22

SUB-TOTAL         43,976           0       3,448          36,085           0       2,531.761      26.90     4.22
REMAINDER              0           0       1,656               0           0       1,207.819       0.00     4.22
TOTAL             43,976           0       5,104          36,085           0       3,739.580      26.90     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          210,322           0     1,490,123            0     1,700,445       6,310      44,704     1,649,431
2004          167,605           0     1,178,559            0     1,346,164       5,028      35,358     1,305,778
2005          133,638           0       995,361            0     1,128,999       4,009      29,858     1,095,132
2006          106,617           0       871,344            0       977,961       3,198      26,141       948,622
2007           85,117           0       784,493            0       869,610       2,554      23,537       843,519
2008           68,000           0       718,036            0       786,036       2,040      21,542       762,454
2009           54,368           0       664,428            0       718,796       1,631      19,928       697,237
2010           40,457           0       619,936            0       660,393       1,214      18,601       640,578
2011           30,557           0       575,486            0       606,043         916      17,264       587,863
2012           24,203           0       535,252            0       559,455         727      16,057       542,671
2013           19,169           0       506,205            0       525,374         575      15,188       509,611
2014           15,184           0       479,259            0       494,443         455      14,376       479,612
2015           12,026           0       448,378            0       460,404         361      13,454       446,589
2016            3,425           0       419,893            0       423,318         103      12,594       410,621
2017                0           0       397,279            0       397,279           0      11,917       385,362

SUB-TOT       970,688           0    10,684,032            0    11,654,720      29,121     320,519    11,305,080
REMAIN              0           0     5,096,997            0     5,096,997           0     152,910     4,944,087
TOTAL         970,688           0    15,781,029            0    16,751,717      29,121     473,429    16,249,167	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003        159,168           0           0           0       159,168      1,490,263     1,490,263     1,422,215
2004        157,896           0           0           0       157,896      1,147,882     2,638,145       990,744
2005        148,068           0           0           0       148,068        947,064     3,585,209       739,695
2006        141,168           0           0           0       141,168        807,454     4,392,663       570,754
2007        139,968           0           0           0       139,968        703,551     5,096,214       450,104
2008        139,968           0           0           0       139,968        622,486     5,718,700       360,453
2009        139,968           0           0           0       139,968        557,269     6,275,969       292,083
2010        136,921           0           0           0       136,921        503,657     6,779,626       238,938
2011        128,676           0           0           0       128,676        459,187     7,238,813       197,179
2012        121,200           0           0           0       121,200        421,471     7,660,284       163,823
2013        121,200           0           0           0       121,200        388,411     8,048,695       136,657
2014        120,600           0           0           0       120,600        359,012     8,407,707       114,340
2015        114,000           0           0           0       114,000        332,589     8,740,296        95,884
2016        101,600           0           0           0       101,600        309,021     9,049,317        80,638
2017         96,600           0           0           0        96,600        288,762     9,338,079        68,209

SUBTOT    1,967,001           0           0           0     1,967,001      9,338,079                   5,921,716
REMAIN    1,620,038           0           0           0     1,620,038      3,324,049    12,662,128       364,679
TOTAL     3,587,039           0           0           0     3,587,039     12,662,128                   6,286,395

  LIFE OF SUMMARY IS 50.00 YEARS.	

TENGASCO, INC. TABLE 181
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     1,461,339
FINAL   -                                                                                 10.00% -     1,241,527
REMARKS -                                                                                 15.00% -     1,075,952
                                                                                          20.00% -       946,156
                                                                                          25.00% -       841,315	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     5        13,365           0          27           5,848           0          11.845      26.90     4.22
2004     8        12,060           0         156           6,729           0          78.727      26.90     4.22
2005     7         6,190           0         111           3,944           0          58.492      26.90     4.22
2006     7         3,465           0          79           2,566           0          43.680      26.90     4.22
2007     5         2,855           0          43           2,142           0          18.944      26.90     4.22
2008     4         2,387           0          37           1,803           0          16.395      26.90     4.22
2009     4         1,995           0          33           1,518           0          14.587      26.90     4.22
2010     4         1,439           0          31           1,178           0          13.208      26.90     4.22
2011     3         1,065           0          27             932           0          12.115      26.90     4.22
2012     3           906           0          26             792           0          11.112      26.90     4.22
2013     2           769           0          11             673           0           4.720      26.90     4.22
2014     2           654           0          10             573           0           4.436      26.90     4.22
2015     2           556           0           9             486           0           4.192      26.90     4.22
2016     2           473           0           9             414           0           3.977      26.90     4.22
2017     2           107           0           9              93           0           3.778      26.90     4.22

SUB-TOTAL         48,286           0         618          29,691           0         300.208      26.90     4.22
REMAINDER              0           0          47               0           0          20.538       0.00     4.22
TOTAL             48,286           0         665          29,691           0         320.746      26.90     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          157,280           0        49,984            0       207,264       4,719       1,500       201,045
2004          181,031           0       332,228            0       513,259       5,431       9,966       497,862
2005          106,102           0       246,837            0       352,939       3,183       7,406       342,350
2006           69,023           0       184,328            0       253,351       2,071       5,530       245,750
2007           57,620           0        79,946            0       137,566       1,729       2,398       133,439
2008           48,498           0        69,184            0       117,682       1,454       2,075       114,153
2009           40,840           0        61,559            0       102,399       1,225       1,847        99,327
2010           31,676           0        55,738            0        87,414         950       1,672        84,792
2011           25,072           0        51,125            0        76,197         752       1,534        73,911
2012           21,311           0        46,894            0        68,205         640       1,406        66,159
2013           18,114           0        19,917            0        38,031         543         598        36,890
2014           15,397           0        18,721            0        34,118         462         561        33,095
2015           13,088           0        17,689            0        30,777         393         531        29,853
2016           11,124           0        16,783            0        27,907         333         504        27,070
2017            2,510           0        15,945            0        18,455          76         478        17,901

SUB-TOT       798,686           0     1,266,878            0     2,065,564      23,961      38,006     2,003,597
REMAIN              0           0        86,671            0        86,671           0       2,600        84,071
TOTAL         798,686           0     1,353,549            0     2,152,235      23,961      40,606     2,087,668	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         11,800           0           0           0        11,800        189,245       189,245       176,680
2004         40,000           0           0           0        40,000        457,862       647,107       396,301
2005         37,200           0           0           0        37,200        305,150       952,257       238,573
2006         29,903           0           0           0        29,903        215,847     1,168,104       152,796
2007         21,620           0           0           0        21,620        111,819     1,279,923        71,581
2008         21,600           0           0           0        21,600         92,553     1,372,476        53,622
2009         21,600           0           0           0        21,600         77,727     1,450,203        40,761
2010         18,800           0           0           0        18,800         65,992     1,516,195        31,322
2011         16,800           0           0           0        16,800         57,111     1,573,306        24,533
2012         16,733           0           0           0        16,733         49,426     1,622,732        19,227
2013         13,200           0           0           0        13,200         23,690     1,646,422         8,341
2014         13,200           0           0           0        13,200         19,895     1,666,317         6,341
2015         13,200           0           0           0        13,200         16,653     1,682,970         4,806
2016         13,200           0           0           0        13,200         13,870     1,696,840         3,622
2017          6,000           0           0           0         6,000         11,901     1,708,741         2,812

SUBTOT      294,856           0           0           0       294,856      1,708,741                   1,231,318
REMAIN       23,653           0           0           0        23,653         60,418     1,769,159        10,209
TOTAL       318,509           0           0           0       318,509      1,769,159                   1,241,527

  LIFE OF SUMMARY IS 21.57 YEARS.	

TENGASCO, INC. TABLE 182
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     8,920,728
FINAL   -                                                                                 10.00% -     5,423,080
REMARKS -                                                                                 15.00% -     3,932,641
                                                                                          20.00% -     3,098,640
                                                                                          25.00% -     2,561,817	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     4        23,159           0         144          20,265           0         101.825      26.90     4.22
2004     5        12,923           0         136          11,306           0         100.088      26.90     4.22
2005     5        14,307           0         113          10,975           0          80.857      26.90     4.22
2006     6         7,622           0         160           5,893           0          95.828      26.90     4.22
2007     8         3,853           0         241           3,029           0         169.376      26.90     4.22
2008     8         1,352           0         214           1,049           0         150.094      26.90     4.22
2009     6             0           0         200               0           0         144.308       0.00     4.22
2010     6             0           0         165               0           0         117.515       0.00     4.22
2011     6             0           0         325               0           0         255.853       0.00     4.22
2012     7             0           0         228               0           0         174.312       0.00     4.22
2013     7             0           0         218               0           0         149.126       0.00     4.22
2014     5             0           0         168               0           0         117.760       0.00     4.22
2015     6             0           0         139               0           0          97.997       0.00     4.22
2016     5             0           0         118               0           0          84.319       0.00     4.22
2017     5             0           0         113               0           0          82.103       0.00     4.22

SUB-TOTAL         63,216           0       2,682          52,517           0       1,921.361      26.90     4.22
REMAINDER         70,978           0       4,539          49,139           0       3,359.804      26.90     4.22
TOTAL            134,194           0       7,221         101,656           0       5,281.165      26.90     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          545,113           0       429,701            0       974,814      16,354      12,891       945,569
2004          304,153           0       422,372            0       726,525       9,124      12,672       704,729
2005          295,217           0       341,219            0       636,436       8,856      10,235       617,345
2006          158,535           0       404,395            0       562,930       4,757      12,133       546,040
2007           81,478           0       714,765            0       796,243       2,444      21,442       772,357
2008           28,204           0       633,396            0       661,600         847      19,004       641,749
2009                0           0       608,980            0       608,980           0      18,269       590,711
2010                0           0       495,914            0       495,914           0      14,877       481,037
2011                0           0     1,079,701            0     1,079,701           0      32,391     1,047,310
2012                0           0       735,597            0       735,597           0      22,067       713,530
2013                0           0       629,313            0       629,313           0      18,880       610,433
2014                0           0       496,946            0       496,946           0      14,908       482,038
2015                0           0       413,548            0       413,548           0      12,408       401,140
2016                0           0       355,826            0       355,826           0      10,674       345,152
2017                0           0       346,471            0       346,471           0      10,395       336,076

SUB-TOT     1,412,700           0     8,108,144            0     9,520,844      42,382     243,246     9,235,216
REMAIN      1,321,831           0    14,178,375            0    15,500,206      39,655     425,350    15,035,201
TOTAL       2,734,531           0    22,286,519            0    25,021,050      82,037     668,596    24,270,417	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         30,000           0      85,000           0       115,000        830,569       830,569       790,591
2004         37,200           0      20,000           0        57,200        647,529     1,478,098       559,135
2005         46,000           0      25,000           0        71,000        546,345     2,024,443       426,623
2006         52,500           0      15,000           0        67,500        478,540     2,502,983       337,920
2007         60,082           0      25,000           0        85,082        687,275     3,190,258       438,752
2008         44,297           0      20,000           0        64,297        577,452     3,767,710       334,068
2009         36,000           0           0           0        36,000        554,711     4,322,421       291,053
2010         36,000           0           0           0        36,000        445,037     4,767,458       211,317
2011         40,781           0      30,000           0        70,781        976,529     5,743,987       416,943
2012         37,006           0           0           0        37,006        676,524     6,420,511       263,674
2013         33,766           0      10,000           0        43,766        566,667     6,987,178       199,710
2014         33,000           0      25,000           0        58,000        424,038     7,411,216       135,532
2015         34,193           0           0           0        34,193        366,947     7,778,163       105,949
2016         32,400           0           0           0        32,400        312,752     8,090,915        81,649
2017         33,000           0      20,000           0        53,000        283,076     8,373,991        66,840

SUBTOT      586,225           0     275,000           0       861,225      8,373,991                   4,659,756
REMAIN    1,247,965           0     265,000           0     1,512,965     13,522,236    21,896,227       763,324
TOTAL     1,834,190           0     540,000           0     2,374,190     21,896,227                   5,423,080

  LIFE OF SUMMARY IS 50.00 YEARS.	

TENGASCO, INC. TABLE 183
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -    31,143,499
FINAL   -                                                                                 10.00% -    23,279,726
REMARKS -                                                                                 15.00% -    18,071,619
                                                                                          20.00% -    14,384,269
                                                                                          25.00% -    11,660,181	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     9             0           0         586               0           0         491.592       0.00     4.22
2004    27             0           0       1,948               0           0       1,544.370       0.00     4.22
2005    39             0           0       2,096               0           0       1,730.463       0.00     4.22
2006    48             0           0       2,233               0           0       1,870.323       0.00     4.22
2007    51             0           0       1,946               0           0       1,633.153       0.00     4.22
2008    49             0           0       1,475               0           0       1,232.200       0.00     4.22
2009    43             0           0       1,157               0           0         956.673       0.00     4.22
2010    38             0           0         907               0           0         744.920       0.00     4.22
2011    28             0           0         679               0           0         548.718       0.00     4.22
2012    20             0           0         517               0           0         422.363       0.00     4.22
2013    18             0           0         464               0           0         379.129       0.00     4.22
2014    18             0           0         426               0           0         348.922       0.00     4.22
2015    17             0           0         362               0           0         292.226       0.00     4.22
2016    11             0           0         250               0           0         199.257       0.00     4.22
2017     9             0           0         227               0           0         176.938       0.00     4.22

SUB-TOTAL              0           0      15,273               0           0      12,571.247       0.00     4.22
REMAINDER              0           0       2,097               0           0       1,585.837       0.00     4.22
TOTAL                  0           0      17,370               0           0      14,157.084       0.00     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0     2,074,518            0     2,074,518           0      62,236     2,012,282
2004                0           0     6,517,241            0     6,517,241           0     195,518     6,321,723
2005                0           0     7,302,552            0     7,302,552           0     219,074     7,083,478
2006                0           0     7,892,765            0     7,892,765           0     236,786     7,655,979
2007                0           0     6,891,902            0     6,891,902           0     206,752     6,685,150
2008                0           0     5,199,887            0     5,199,887           0     155,996     5,043,891
2009                0           0     4,037,157            0     4,037,157           0     121,115     3,916,042
2010                0           0     3,143,561            0     3,143,561           0      94,304     3,049,257
2011                0           0     2,315,585            0     2,315,585           0      69,469     2,246,116
2012                0           0     1,782,373            0     1,782,373           0      53,472     1,728,901
2013                0           0     1,599,925            0     1,599,925           0      47,998     1,551,927
2014                0           0     1,472,452            0     1,472,452           0      44,171     1,428,281
2015                0           0     1,233,193            0     1,233,193           0      36,999     1,196,194
2016                0           0       840,865            0       840,865           0      25,225       815,640
2017                0           0       746,676            0       746,676           0      22,400       724,276

SUB-TOT             0           0    53,050,652            0    53,050,652           0   1,591,515    51,459,137
REMAIN              0           0     6,692,232            0     6,692,232           0     200,769     6,491,463
TOTAL               0           0    59,742,884            0    59,742,884           0   1,792,284    57,950,600	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003         30,900           0   1,600,000           0     1,630,900        381,382       381,382       327,090
2004        139,800           0   3,650,000           0     3,789,800      2,531,923     2,913,305     2,137,047
2005        228,600           0   2,400,000           0     2,628,600      4,454,878     7,368,183     3,471,607
2006        312,000           0   1,800,000           0     2,112,000      5,543,979    12,912,162     3,908,955
2007        351,749           0     600,000           0       951,749      5,733,401    18,645,563     3,661,203
2008        324,535           0           0           0       324,535      4,719,356    23,364,919     2,736,530
2009        282,772           0           0           0       282,772      3,633,270    26,998,189     1,906,541
2010        236,105           0           0           0       236,105      2,813,152    29,811,341     1,336,829
2011        176,089           0           0           0       176,089      2,070,027    31,881,368       890,706
2012        136,311           0           0           0       136,311      1,592,590    33,473,958       619,322
2013        129,600           0           0           0       129,600      1,422,327    34,896,285       500,404
2014        126,586           0           0           0       126,586      1,301,695    36,197,980       414,755
2015        108,746           0           0           0       108,746      1,087,448    37,285,428       314,133
2016         70,643           0           0           0        70,643        744,997    38,030,425       194,624
2017         64,800           0           0           0        64,800        659,476    38,689,901       155,759

SUBTOT    2,719,236           0  10,050,000           0    12,769,236     38,689,901                  22,575,505
REMAIN      710,036           0           0           0       710,036      5,781,427    44,471,328       704,221
TOTAL     3,429,272           0  10,050,000           0    13,479,272     44,471,328                  23,279,726

  LIFE OF SUMMARY IS 46.65 YEARS.	

TENGASCO, INC. TABLE 184
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROBABLE
TENNESSEE PROPERTIES BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -        45,647
FINAL   -                                                                                 10.00% -        32,968
REMARKS -                                                                                 15.00% -        24,838
                                                                                          20.00% -        19,413
                                                                                          25.00% -        15,646	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          27               0           0           1.661       0.00     4.22
2005     1             0           0          22               0           0           1.375       0.00     4.22
2006     1             0           0          19               0           0           1.200       0.00     4.22
2007     1             0           0          17               0           0           1.078       0.00     4.22
2008     1             0           0          16               0           0           0.987       0.00     4.22
2009     1             0           0          14               0           0           0.916       0.00     4.22
2010     1             0           0          14               0           0           0.859       0.00     4.22
2011     1             0           0          13               0           0           0.802       0.00     4.22
2012     1             0           0          12               0           0           0.750       0.00     4.22
2013     1             0           0          11               0           0           0.712       0.00     4.22
2014     1             0           0          34               0           0           2.061       0.00     4.22
2015     1             0           0          28               0           0           1.782       0.00     4.22
2016     1             0           0          19               0           0           1.153       0.00     4.22
2017     1             0           0          13               0           0           0.810       0.00     4.22

SUB-TOTAL              0           0         259               0           0          16.146       0.00     4.22
REMAINDER              0           0           0               0           0           0.022       0.00     4.22
TOTAL                  0           0         259               0           0          16.168       0.00     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0         7,011            0         7,011           0         210         6,801
2005                0           0         5,802            0         5,802           0         174         5,628
2006                0           0         5,063            0         5,063           0         152         4,911
2007                0           0         4,549            0         4,549           0         137         4,412
2008                0           0         4,166            0         4,166           0         125         4,041
2009                0           0         3,867            0         3,867           0         116         3,751
2010                0           0         3,623            0         3,623           0         108         3,515
2011                0           0         3,385            0         3,385           0         102         3,283
2012                0           0         3,165            0         3,165           0          95         3,070
2013                0           0         3,007            0         3,007           0          90         2,917
2014                0           0         8,697            0         8,697           0         261         8,436
2015                0           0         7,520            0         7,520           0         226         7,294
2016                0           0         4,867            0         4,867           0         146         4,721
2017                0           0         3,419            0         3,419           0         102         3,317

SUB-TOT             0           0        68,141            0        68,141           0       2,044        66,097
REMAIN              0           0            91            0            91           0           3            88
TOTAL               0           0        68,232            0        68,232           0       2,047        66,185	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0          6,801         6,801         5,871
2005              0           0           0           0             0          5,628        12,429         4,395
2006              0           0           0           0             0          4,911        17,340         3,470
2007              0           0           0           0             0          4,412        21,752         2,822
2008              0           0           0           0             0          4,041        25,793         2,339
2009              0           0           0           0             0          3,751        29,544         1,966
2010              0           0           0           0             0          3,515        33,059         1,667
2011              0           0           0           0             0          3,283        36,342         1,410
2012              0           0           0           0             0          3,070        39,412         1,193
2013              0           0           0           0             0          2,917        42,329         1,026
2014              0           0           0           0             0          8,436        50,765         2,659
2015              0           0           0           0             0          7,294        58,059         2,110
2016              0           0           0           0             0          4,721        62,780         1,235
2017              0           0           0           0             0          3,317        66,097           785

SUBTOT            0           0           0           0             0         66,097                      32,948
REMAIN            0           0           0           0             0             88        66,185            20
TOTAL             0           0           0           0             0         66,185                      32,968

  LIFE OF SUMMARY IS 15.03 YEARS.	

TENGASCO, INC. TABLE 185
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL POSSIBLE
TENNESSEE PROPERTIES UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -                                                                                  5.00% -     4,284,225
FINAL   -                                                                                 10.00% -     3,185,002
REMARKS -                                                                                 15.00% -     2,378,901
                                                                                          20.00% -     1,783,727
                                                                                          25.00% -     1,341,618	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     4             0           0         106               0           0          93.393       0.00     4.22
2006    14             0           0         715               0           0         623.939       0.00     4.22
2007    14             0           0         576               0           0         503.808       0.00     4.22
2008    14             0           0         409               0           0         360.038       0.00     4.22
2009    14             0           0         310               0           0         272.546       0.00     4.22
2010    12             0           0         211               0           0         181.732       0.00     4.22
2011     8             0           0         109               0           0          94.770       0.00     4.22
2012     4             0           0          64               0           0          56.899       0.00     4.22
2013     3             0           0          30               0           0          26.400       0.00     4.22
2014     1             0           0          16               0           0          14.226       0.00     4.22
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0       2,546               0           0       2,227.751       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0       2,546               0           0       2,227.751       0.00     4.22

CUMULATIVE
ULTIMATE	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       394,118            0       394,118           0      11,824       382,294
2006                0           0     2,633,019            0     2,633,019           0      78,990     2,554,029
2007                0           0     2,126,073            0     2,126,073           0      63,783     2,062,290
2008                0           0     1,519,360            0     1,519,360           0      45,582     1,473,778
2009                0           0     1,150,142            0     1,150,142           0      34,503     1,115,639
2010                0           0       766,907            0       766,907           0      23,004       743,903
2011                0           0       399,927            0       399,927           0      11,998       387,929
2012                0           0       240,113            0       240,113           0       7,203       232,910
2013                0           0       111,408            0       111,408           0       3,343       108,065
2014                0           0        60,033            0        60,033           0       1,801        58,232
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     9,401,100            0     9,401,100           0     282,031     9,119,069
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     9,401,100            0     9,401,100           0     282,031     9,119,069	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          9,000           0     800,000           0       809,000       -426,706      -426,706      -327,786
2006         75,000           0   2,000,000           0     2,075,000        479,029        52,323       315,056
2007        100,800           0           0           0       100,800      1,961,490     2,013,813     1,258,271
2008        100,800           0           0           0       100,800      1,372,978     3,386,791       796,076
2009         92,682           0           0           0        92,682      1,022,957     4,409,748       537,271
2010         68,580           0           0           0        68,580        675,323     5,085,071       321,748
2011         36,976           0           0           0        36,976        350,953     5,436,024       151,535
2012         23,269           0           0           0        23,269        209,641     5,645,665        81,700
2013         11,184           0           0           0        11,184         96,881     5,742,546        34,489
2014          6,291           0           0           0         6,291         51,941     5,794,487        16,642
2015              0           0           0           0             0              0     5,794,487             0
2016              0           0           0           0             0              0     5,794,487             0
2017              0           0           0           0             0              0     5,794,487             0

SUBTOT      524,582           0   2,800,000           0     3,324,582      5,794,487                   3,185,002
REMAIN            0           0           0           0             0              0     5,794,487             0
TOTAL       524,582           0   2,800,000           0     3,324,582      5,794,487                   3,185,002

  LIFE OF SUMMARY IS 11.87 YEARS.	

TENGASCO, INC. TABLE 186
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #1 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           9
ULTIMATE               0           0           9	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 187
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #1 BP (TRENTON) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000            0.875000     26.90                   4.22        5.00% -       378,741
FINAL   -   1.000000  0.875000            0.875000     26.90                   4.22       10.00% -       357,571
REMARKS -                                                                                 15.00% -       338,381
                                                                                          20.00% -       320,929
                                                                                          25.00% -       305,010	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         7,927           0          17           6,937           0          15.233      26.90     4.22
2004     1         4,002           0           9           3,501           0           7.689      26.90     4.22
2005     1         2,019           0           5           1,767           0           3.881      26.90     4.22
2006     1         1,020           0           2             892           0           1.959      26.90     4.22
2007     1           495           0           1             433           0           0.951      26.90     4.22
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         15,463           0          34          13,530           0          29.713      26.90     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             15,463           0          34          13,530           0          29.713      26.90     4.22

CUMULATIVE             0           0           0
ULTIMATE          15,463           0          34	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          186,594           0        64,282            0       250,876       5,598       1,928       243,350
2004           94,181           0        32,446            0       126,627       2,825         974       122,828
2005           47,537           0        16,376            0        63,913       1,426         491        61,996
2006           23,994           0         8,266            0        32,260         720         248        31,292
2007           11,646           0         4,012            0        15,658         350         120        15,188
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       363,952           0       125,382            0       489,334      10,919       3,761       474,654
REMAIN              0           0             0            0             0           0           0             0
TOTAL         363,952           0       125,382            0       489,334      10,919       3,761       474,654	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,600           0      25,000           0        34,600        208,750       208,750       198,887
2004          9,600           0           0           0         9,600        113,228       321,978        98,149
2005          9,600           0           0           0         9,600         52,396       374,374        41,136
2006          9,600           0           0           0         9,600         21,692       396,066        15,438
2007          9,082           0           0           0         9,082          6,106       402,172         3,961
2008              0           0           0           0             0              0       402,172             0
2009              0           0           0           0             0              0       402,172             0
2010              0           0           0           0             0              0       402,172             0
2011              0           0           0           0             0              0       402,172             0
2012              0           0           0           0             0              0       402,172             0
2013              0           0           0           0             0              0       402,172             0
2014              0           0           0           0             0              0       402,172             0
2015              0           0           0           0             0              0       402,172             0
2016              0           0           0           0             0              0       402,172             0
2017              0           0           0           0             0              0       402,172             0

SUBTOT       47,482           0      25,000           0        72,482        402,172                     357,571
REMAIN            0           0           0           0             0              0       402,172             0
TOTAL        47,482           0      25,000           0        72,482        402,172                     357,571

  LIFE OF EVALUATION IS 4.95 YEARS.
  FINAL PRODUCTION RATE: 31 BBLS/MO	

TENGASCO, INC. TABLE 188
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #2 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       404,702
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       323,487
REMARKS -                                                                                 15.00% -       272,476
                                                                                          20.00% -       237,412
                                                                                          25.00% -       211,660	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          30               0           0          26.645       0.00     4.22
2004     1             0           0          20               0           0          17.214       0.00     4.22
2005     1             0           0          15               0           0          13.305       0.00     4.22
2006     1             0           0          13               0           0          11.063       0.00     4.22
2007     1             0           0          11               0           0           9.579       0.00     4.22
2008     1             0           0          10               0           0           8.510       0.00     4.22
2009     1             0           0           8               0           0           7.697       0.00     4.22
2010     1             0           0           9               0           0           7.054       0.00     4.22
2011     1             0           0           7               0           0           6.531       0.00     4.22
2012     1             0           0           7               0           0           6.095       0.00     4.22
2013     1             0           0           6               0           0           5.726       0.00     4.22
2014     1             0           0           7               0           0           5.407       0.00     4.22
2015     1             0           0           6               0           0           5.129       0.00     4.22
2016     1             0           0           5               0           0           4.872       0.00     4.22
2017     1             0           0           5               0           0           4.629       0.00     4.22

SUB-TOTAL              0           0         159               0           0         139.456       0.00     4.22
REMAINDER              0           0          62               0           0          53.603       0.00     4.22
TOTAL                  0           0         221               0           0         193.059       0.00     4.22

CUMULATIVE             0           0          59
ULTIMATE               0           0         280	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       112,441            0       112,441           0       3,373       109,068
2004                0           0        72,645            0        72,645           0       2,180        70,465
2005                0           0        56,149            0        56,149           0       1,684        54,465
2006                0           0        46,688            0        46,688           0       1,401        45,287
2007                0           0        40,422            0        40,422           0       1,212        39,210
2008                0           0        35,912            0        35,912           0       1,078        34,834
2009                0           0        32,483            0        32,483           0         974        31,509
2010                0           0        29,769            0        29,769           0         893        28,876
2011                0           0        27,562            0        27,562           0         827        26,735
2012                0           0        25,722            0        25,722           0         772        24,950
2013                0           0        24,161            0        24,161           0         725        23,436
2014                0           0        22,819            0        22,819           0         684        22,135
2015                0           0        21,643            0        21,643           0         649        20,994
2016                0           0        20,561            0        20,561           0         617        19,944
2017                0           0        19,533            0        19,533           0         586        18,947

SUB-TOT             0           0       588,510            0       588,510           0      17,655       570,855
REMAIN              0           0       226,207            0       226,207           0       6,786       219,421
TOTAL               0           0       814,717            0       814,717           0      24,441       790,276	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200        101,868       101,868        97,471
2004          7,200           0           0           0         7,200         63,265       165,133        54,665
2005          7,200           0           0           0         7,200         47,265       212,398        36,937
2006          7,200           0           0           0         7,200         38,087       250,485        26,932
2007          7,200           0           0           0         7,200         32,010       282,495        20,484
2008          7,200           0           0           0         7,200         27,634       310,129        16,004
2009          7,200           0           0           0         7,200         24,309       334,438        12,743
2010          7,200           0           0           0         7,200         21,676       356,114        10,284
2011          7,200           0           0           0         7,200         19,535       375,649         8,389
2012          7,200           0           0           0         7,200         17,750       393,399         6,900
2013          7,200           0           0           0         7,200         16,236       409,635         5,713
2014          7,200           0           0           0         7,200         14,935       424,570         4,756
2015          7,200           0           0           0         7,200         13,794       438,364         3,977
2016          7,200           0           0           0         7,200         12,744       451,108         3,326
2017          7,200           0           0           0         7,200         11,747       462,855         2,775

SUBTOT      108,000           0           0           0       108,000        462,855                     311,356
REMAIN      132,000           0           0           0       132,000         87,421       550,276        12,131
TOTAL       240,000           0           0           0       240,000        550,276                     323,487

  LIFE OF EVALUATION IS 33.33 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 189
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
BOBBY YEARY #1 (REEDSVILLE-TRENTON) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           6
ULTIMATE               0           0           6	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 190
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
BOBBY YEARY #1BP (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO RESERVES ASSIGNED.                                                           15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 191
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
BOBBY YEARY #2 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000  0.437500                         26.90                               5.00% -        50,811
FINAL   -   0.500000  0.437500                         26.90                              10.00% -        46,185
REMARKS -                                                                                 15.00% -        42,237
                                                                                          20.00% -        38,844
                                                                                          25.00% -        35,907	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,990           0           0             871           0           0.000      26.90     0.00
2004     1         1,592           0           0             696           0           0.000      26.90     0.00
2005     1         1,273           0           0             557           0           0.000      26.90     0.00
2006     1         1,019           0           0             446           0           0.000      26.90     0.00
2007     1           815           0           0             356           0           0.000      26.90     0.00
2008     1           652           0           0             286           0           0.000      26.90     0.00
2009     1           521           0           0             228           0           0.000      26.90     0.00
2010     1           186           0           0              81           0           0.000      26.90     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          8,048           0           0           3,521           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              8,048           0           0           3,521           0           0.000      26.90     0.00

CUMULATIVE         2,217           0           0
ULTIMATE          10,265           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           23,417           0             0            0        23,417         703           0        22,714
2004           18,733           0             0            0        18,733         562           0        18,171
2005           14,987           0             0            0        14,987         449           0        14,538
2006           11,990           0             0            0        11,990         360           0        11,630
2007            9,591           0             0            0         9,591         288           0         9,303
2008            7,673           0             0            0         7,673         230           0         7,443
2009            6,139           0             0            0         6,139         184           0         5,955
2010            2,180           0             0            0         2,180          65           0         2,115
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        94,710           0             0            0        94,710       2,841           0        91,869
REMAIN              0           0             0            0             0           0           0             0
TOTAL          94,710           0             0            0        94,710       2,841           0        91,869	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,800           0           0           0         4,800         17,914        17,914        17,091
2004          4,800           0           0           0         4,800         13,371        31,285        11,549
2005          4,800           0           0           0         4,800          9,738        41,023         7,616
2006          4,800           0           0           0         4,800          6,830        47,853         4,837
2007          4,800           0           0           0         4,800          4,503        52,356         2,888
2008          4,800           0           0           0         4,800          2,643        54,999         1,537
2009          4,800           0           0           0         4,800          1,155        56,154           611
2010          2,000           0           0           0         2,000            115        56,269            56
2011              0           0           0           0             0              0        56,269             0
2012              0           0           0           0             0              0        56,269             0
2013              0           0           0           0             0              0        56,269             0
2014              0           0           0           0             0              0        56,269             0
2015              0           0           0           0             0              0        56,269             0
2016              0           0           0           0             0              0        56,269             0
2017              0           0           0           0             0              0        56,269             0

SUBTOT       35,600           0           0           0        35,600         56,269                      46,185
REMAIN            0           0           0           0             0              0        56,269             0
TOTAL        35,600           0           0           0        35,600         56,269                      46,185

  LIFE OF EVALUATION IS 7.42 YEARS.
  FINAL PRODUCTION RATE: 36 BBLS/MO	

TENGASCO, INC. TABLE 192
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
BOBBY YEARY #3 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE           535           0           0
ULTIMATE             535           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 193
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
CHERYL SMITH #1 (TRENTON) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000  0.437500                         26.90                               5.00% -        51,548
FINAL   -   0.500000  0.437500                         26.90                              10.00% -        49,701
REMARKS -                                                                                 15.00% -        47,931
                                                                                          20.00% -        46,236
                                                                                          25.00% -        44,612	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         4,333           0           0           1,896           0           0.000      26.90     0.00
2004     1           807           0           0             353           0           0.000      26.90     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          5,140           0           0           2,249           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              5,140           0           0           2,249           0           0.000      26.90     0.00

CUMULATIVE             0           0           0
ULTIMATE           5,140           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           50,992           0             0            0        50,992       1,530           0        49,462
2004            9,501           0             0            0         9,501         285           0         9,216
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        60,493           0             0            0        60,493       1,815           0        58,678
REMAIN              0           0             0            0             0           0           0             0
TOTAL          60,493           0             0            0        60,493       1,815           0        58,678	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,400           0           0           0         2,400         47,062        47,062        43,985
2004          2,800           0           0           0         2,800          6,416        53,478         5,716
2005              0           0           0           0             0              0        53,478             0
2006              0           0           0           0             0              0        53,478             0
2007              0           0           0           0             0              0        53,478             0
2008              0           0           0           0             0              0        53,478             0
2009              0           0           0           0             0              0        53,478             0
2010              0           0           0           0             0              0        53,478             0
2011              0           0           0           0             0              0        53,478             0
2012              0           0           0           0             0              0        53,478             0
2013              0           0           0           0             0              0        53,478             0
2014              0           0           0           0             0              0        53,478             0
2015              0           0           0           0             0              0        53,478             0
2016              0           0           0           0             0              0        53,478             0
2017              0           0           0           0             0              0        53,478             0

SUBTOT        5,200           0           0           0         5,200         53,478                      49,701
REMAIN            0           0           0           0             0              0        53,478             0
TOTAL         5,200           0           0           0         5,200         53,478                      49,701

  LIFE OF EVALUATION IS 1.58 YEARS.
  FINAL PRODUCTION RATE: 41 BBLS/MO	

TENGASCO, INC. TABLE 194
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
CHERYL SMITH #2 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       665,144
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       532,049
REMARKS -                                                                                 15.00% -       434,567
                                                                                          20.00% -       361,133
                                                                                          25.00% -       304,344	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          66               0           0          57.789       0.00     4.22
2004     1             0           0          46               0           0          40.643       0.00     4.22
2005     1             0           0          35               0           0          29.757       0.00     4.22
2006     1             0           0          27               0           0          24.118       0.00     4.22
2007     1             0           0          24               0           0          20.570       0.00     4.22
2008     1             0           0          20               0           0          18.096       0.00     4.22
2009     1             0           0          19               0           0          16.253       0.00     4.22
2010     1             0           0          17               0           0          14.818       0.00     4.22
2011     1             0           0          15               0           0          13.663       0.00     4.22
2012     1             0           0          15               0           0          12.710       0.00     4.22
2013     1             0           0          14               0           0          11.907       0.00     4.22
2014     1             0           0          12               0           0          11.221       0.00     4.22
2015     1             0           0           9               0           0           7.581       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         319               0           0         279.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         319               0           0         279.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         319	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       243,868            0       243,868           0       7,316       236,552
2004                0           0       171,514            0       171,514           0       5,145       166,369
2005                0           0       125,574            0       125,574           0       3,768       121,806
2006                0           0       101,778            0       101,778           0       3,053        98,725
2007                0           0        86,807            0        86,807           0       2,604        84,203
2008                0           0        76,363            0        76,363           0       2,291        74,072
2009                0           0        68,587            0        68,587           0       2,058        66,529
2010                0           0        62,532            0        62,532           0       1,876        60,656
2011                0           0        57,658            0        57,658           0       1,729        55,929
2012                0           0        53,636            0        53,636           0       1,610        52,026
2013                0           0        50,249            0        50,249           0       1,507        48,742
2014                0           0        47,352            0        47,352           0       1,421        45,931
2015                0           0        31,989            0        31,989           0         959        31,030
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,177,907            0     1,177,907           0      35,337     1,142,570
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,177,907            0     1,177,907           0      35,337     1,142,570	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,000           0     200,000           0       206,000         30,552        30,552        22,816
2004          7,200           0           0           0         7,200        159,169       189,721       137,602
2005          7,200           0           0           0         7,200        114,606       304,327        89,576
2006          7,200           0           0           0         7,200         91,525       395,852        64,720
2007          7,200           0           0           0         7,200         77,003       472,855        49,273
2008          7,200           0           0           0         7,200         66,872       539,727        38,727
2009          7,200           0           0           0         7,200         59,329       599,056        31,097
2010          7,200           0           0           0         7,200         53,456       652,512        25,360
2011          7,200           0           0           0         7,200         48,729       701,241        20,925
2012          7,200           0           0           0         7,200         44,826       746,067        17,423
2013          7,200           0           0           0         7,200         41,542       787,609        14,615
2014          7,200           0           0           0         7,200         38,731       826,340        12,334
2015          5,098           0           0           0         5,098         25,932       852,272         7,581
2016              0           0           0           0             0              0       852,272             0
2017              0           0           0           0             0              0       852,272             0

SUBTOT       90,298           0     200,000           0       290,298        852,272                     532,049
REMAIN            0           0           0           0             0              0       852,272             0
TOTAL        90,298           0     200,000           0       290,298        852,272                     532,049

  LIFE OF EVALUATION IS 12.71 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 195
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
CHEVRON REED #1 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           1
ULTIMATE               0           0           1	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 196
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.678444                             4.22        5.00% -       579,608
FINAL   -   1.000000                      0.678444                             4.22       10.00% -       424,107
REMARKS -                                                                                 15.00% -       335,941
                                                                                          20.00% -       279,592
                                                                                          25.00% -       240,445	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          34               0           0          23.388       0.00     4.22
2004     1             0           0          29               0           0          19.016       0.00     4.22
2005     1             0           0          24               0           0          16.462       0.00     4.22
2006     1             0           0          21               0           0          14.732       0.00     4.22
2007     1             0           0          20               0           0          13.459       0.00     4.22
2008     1             0           0          19               0           0          12.472       0.00     4.22
2009     1             0           0          17               0           0          11.676       0.00     4.22
2010     1             0           0          16               0           0          11.018       0.00     4.22
2011     1             0           0          16               0           0          10.454       0.00     4.22
2012     1             0           0          14               0           0           9.931       0.00     4.22
2013     1             0           0          14               0           0           9.435       0.00     4.22
2014     1             0           0          13               0           0           8.963       0.00     4.22
2015     1             0           0          13               0           0           8.515       0.00     4.22
2016     1             0           0          12               0           0           8.089       0.00     4.22
2017     1             0           0          11               0           0           7.685       0.00     4.22

SUB-TOTAL              0           0         273               0           0         185.295       0.00     4.22
REMAINDER              0           0         165               0           0         111.727       0.00     4.22
TOTAL                  0           0         438               0           0         297.022       0.00     4.22

CUMULATIVE             0           0         111
ULTIMATE               0           0         549	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        98,697            0        98,697           0       2,961        95,736
2004                0           0        80,248            0        80,248           0       2,407        77,841
2005                0           0        69,469            0        69,469           0       2,084        67,385
2006                0           0        62,168            0        62,168           0       1,865        60,303
2007                0           0        56,797            0        56,797           0       1,704        55,093
2008                0           0        52,630            0        52,630           0       1,579        51,051
2009                0           0        49,274            0        49,274           0       1,478        47,796
2010                0           0        46,495            0        46,495           0       1,395        45,100
2011                0           0        44,117            0        44,117           0       1,324        42,793
2012                0           0        41,910            0        41,910           0       1,257        40,653
2013                0           0        39,815            0        39,815           0       1,195        38,620
2014                0           0        37,824            0        37,824           0       1,134        36,690
2015                0           0        35,933            0        35,933           0       1,078        34,855
2016                0           0        34,136            0        34,136           0       1,024        33,112
2017                0           0        32,430            0        32,430           0         973        31,457

SUB-TOT             0           0       781,943            0       781,943           0      23,458       758,485
REMAIN              0           0       471,487            0       471,487           0      14,145       457,342
TOTAL               0           0     1,253,430            0     1,253,430           0      37,603     1,215,827	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         88,536        88,536        84,462
2004          7,200           0           0           0         7,200         70,641       159,177        60,956
2005          7,200           0           0           0         7,200         60,185       219,362        46,994
2006          7,200           0           0           0         7,200         53,103       272,465        37,525
2007          7,200           0           0           0         7,200         47,893       320,358        30,632
2008          7,200           0           0           0         7,200         43,851       364,209        25,385
2009          7,200           0           0           0         7,200         40,596       404,805        21,271
2010          7,200           0           0           0         7,200         37,900       442,705        17,976
2011          7,200           0           0           0         7,200         35,593       478,298        15,280
2012          7,200           0           0           0         7,200         33,453       511,751        13,001
2013          7,200           0           0           0         7,200         31,420       543,171        11,053
2014          7,200           0           0           0         7,200         29,490       572,661         9,391
2015          7,200           0           0           0         7,200         27,655       600,316         7,972
2016          7,200           0           0           0         7,200         25,912       626,228         6,762
2017          7,200           0           0           0         7,200         24,257       650,485         5,729

SUBTOT      108,000           0           0           0       108,000        650,485                     394,389
REMAIN      203,400           0           0           0       203,400        253,942       904,427        29,718
TOTAL       311,400           0           0           0       311,400        904,427                     424,107

  LIFE OF EVALUATION IS 43.25 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 197
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #1 BP (TRENTON) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.678444                             4.22        5.00% -        51,142
FINAL   -   1.000000                      0.678444                             4.22       10.00% -         5,268
REMARKS -                                                                                 15.00% -           552
                                                                                          20.00% -            59
                                                                                          25.00% -             6	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         206               0           0         139.763       0.00     4.22
TOTAL                  0           0         206               0           0         139.763       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         206	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0       589,800            0       589,800           0      17,694       572,106
TOTAL               0           0       589,800            0       589,800           0      17,694       572,106	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       47,071           0      20,000           0        67,071        505,035       505,035         5,268
TOTAL        47,071           0      20,000           0        67,071        505,035                       5,268

  LIFE OF EVALUATION IS 49.79 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 198
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #3 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.678444                             4.22        5.00% -     3,527,951
FINAL   -   1.000000                      0.678444                             4.22       10.00% -     2,374,595
REMARKS -                                                                                 15.00% -     1,759,543
                                                                                          20.00% -     1,377,253
                                                                                          25.00% -     1,115,777	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0         258               0           0         175.224       0.00     4.22
2005     1             0           0         175               0           0         118.856       0.00     4.22
2006     1             0           0         142               0           0          96.219       0.00     4.22
2007     1             0           0         123               0           0          83.038       0.00     4.22
2008     1             0           0         109               0           0          74.133       0.00     4.22
2009     1             0           0         100               0           0          67.597       0.00     4.22
2010     1             0           0          92               0           0          62.534       0.00     4.22
2011     1             0           0          86               0           0          58.463       0.00     4.22
2012     1             0           0          81               0           0          55.096       0.00     4.22
2013     1             0           0          77               0           0          52.253       0.00     4.22
2014     1             0           0          73               0           0          49.647       0.00     4.22
2015     1             0           0          70               0           0          47.165       0.00     4.22
2016     1             0           0          66               0           0          44.807       0.00     4.22
2017     1             0           0          63               0           0          42.566       0.00     4.22

SUB-TOTAL              0           0       1,515               0           0       1,027.598       0.00     4.22
REMAINDER              0           0         957               0           0         649.282       0.00     4.22
TOTAL                  0           0       2,472               0           0       1,676.880       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0       2,472	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       739,444            0       739,444           0      22,183       717,261
2005                0           0       501,573            0       501,573           0      15,048       486,525
2006                0           0       406,045            0       406,045           0      12,181       393,864
2007                0           0       350,419            0       350,419           0      10,512       339,907
2008                0           0       312,842            0       312,842           0       9,386       303,456
2009                0           0       285,258            0       285,258           0       8,557       276,701
2010                0           0       263,894            0       263,894           0       7,917       255,977
2011                0           0       246,714            0       246,714           0       7,402       239,312
2012                0           0       232,507            0       232,507           0       6,975       225,532
2013                0           0       220,507            0       220,507           0       6,615       213,892
2014                0           0       209,511            0       209,511           0       6,285       203,226
2015                0           0       199,036            0       199,036           0       5,971       193,065
2016                0           0       189,084            0       189,084           0       5,673       183,411
2017                0           0       179,629            0       179,629           0       5,389       174,240

SUB-TOT             0           0     4,336,463            0     4,336,463           0     130,094     4,206,369
REMAIN              0           0     2,739,971            0     2,739,971           0      82,199     2,657,772
TOTAL               0           0     7,076,434            0     7,076,434           0     212,293     6,864,141	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          7,200           0     250,000           0       257,200        460,061       460,061       389,304
2005          7,200           0           0           0         7,200        479,325       939,386       374,653
2006          7,200           0           0           0         7,200        386,664     1,326,050       273,376
2007          7,200           0           0           0         7,200        332,707     1,658,757       212,854
2008          7,200           0           0           0         7,200        296,256     1,955,013       171,531
2009          7,200           0           0           0         7,200        269,501     2,224,514       141,230
2010          7,200           0           0           0         7,200        248,777     2,473,291       118,000
2011          7,200           0           0           0         7,200        232,112     2,705,403        99,652
2012          7,200           0           0           0         7,200        218,332     2,923,735        84,846
2013          7,200           0           0           0         7,200        206,692     3,130,427        72,706
2014          7,200           0           0           0         7,200        196,026     3,326,453        62,419
2015          7,200           0           0           0         7,200        185,865     3,512,318        53,573
2016          7,200           0           0           0         7,200        176,211     3,688,529        45,976
2017          7,200           0           0           0         7,200        167,040     3,855,569        39,453

SUBTOT      100,800           0     250,000           0       350,800      3,855,569                   2,139,573
REMAIN      227,904           0           0           0       227,904      2,429,868     6,285,437       235,022
TOTAL       328,704           0     250,000           0       578,704      6,285,437                   2,374,595

  LIFE OF EVALUATION IS 46.65 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 199
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
DARNELL SUTTON #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           1
ULTIMATE               0           0           1	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 200
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEANNA CROSS #1 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       309,754
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       256,810
REMARKS -                                                                                 15.00% -       215,960
                                                                                          20.00% -       183,911
                                                                                          25.00% -       158,363	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          56               0           0          24.582       0.00     4.22
2005     1             0           0          37               0           0          16.095       0.00     4.22
2006     1             0           0          29               0           0          12.495       0.00     4.22
2007     1             0           0          23               0           0          10.412       0.00     4.22
2008     1             0           0          21               0           0           9.027       0.00     4.22
2009     1             0           0          18               0           0           8.027       0.00     4.22
2010     1             0           0          17               0           0           7.265       0.00     4.22
2011     1             0           0          15               0           0           6.662       0.00     4.22
2012     1             0           0          14               0           0           6.059       0.00     4.22
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         230               0           0         100.624       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         230               0           0         100.624       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         230	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       103,737            0       103,737           0       3,112       100,625
2005                0           0        67,920            0        67,920           0       2,038        65,882
2006                0           0        52,728            0        52,728           0       1,582        51,146
2007                0           0        43,940            0        43,940           0       1,318        42,622
2008                0           0        38,095            0        38,095           0       1,143        36,952
2009                0           0        33,876            0        33,876           0       1,016        32,860
2010                0           0        30,660            0        30,660           0         920        29,740
2011                0           0        28,113            0        28,113           0         843        27,270
2012                0           0        25,569            0        25,569           0         767        24,802
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       424,638            0       424,638           0      12,739       411,899
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       424,638            0       424,638           0      12,739       411,899	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0           0           0         3,600         97,025        97,025        84,007
2005          3,600           0           0           0         3,600         62,282       159,307        48,705
2006          3,600           0           0           0         3,600         47,546       206,853        33,629
2007          3,600           0           0           0         3,600         39,022       245,875        24,974
2008          3,600           0           0           0         3,600         33,352       279,227        19,317
2009          3,600           0           0           0         3,600         29,260       308,487        15,338
2010          3,600           0           0           0         3,600         26,140       334,627        12,402
2011          3,600           0           0           0         3,600         23,670       358,297        10,164
2012          3,533           0           0           0         3,533         21,269       379,566         8,274
2013              0           0           0           0             0              0       379,566             0
2014              0           0           0           0             0              0       379,566             0
2015              0           0           0           0             0              0       379,566             0
2016              0           0           0           0             0              0       379,566             0
2017              0           0           0           0             0              0       379,566             0

SUBTOT       32,333           0           0           0        32,333        379,566                     256,810
REMAIN            0           0           0           0             0              0       379,566             0
TOTAL        32,333           0           0           0        32,333        379,566                     256,810

  LIFE OF EVALUATION IS 9.98 YEARS.
  FINAL PRODUCTION RATE: 1.1 MMCF/MO	

TENGASCO, INC. TABLE 201
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEANNA CROSS #1 BP (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       226,018
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       122,558
REMARKS -                                                                                 15.00% -        67,168
                                                                                          20.00% -        37,177
                                                                                          25.00% -        20,766	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013     1             0           0          71               0           0          31.014       0.00     4.22
2014     1             0           0          51               0           0          22.232       0.00     4.22
2015     1             0           0          39               0           0          17.026       0.00     4.22
2016     1             0           0          30               0           0          13.336       0.00     4.22
2017     1             0           0          24               0           0          10.646       0.00     4.22

SUB-TOTAL              0           0         215               0           0          94.254       0.00     4.22
REMAINDER              0           0          41               0           0          17.600       0.00     4.22
TOTAL                  0           0         256               0           0         111.854       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         256	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0       130,881            0       130,881           0       3,926       126,955
2014                0           0        93,819            0        93,819           0       2,815        91,004
2015                0           0        71,851            0        71,851           0       2,156        69,695
2016                0           0        56,278            0        56,278           0       1,688        54,590
2017                0           0        44,925            0        44,925           0       1,348        43,577

SUB-TOT             0           0       397,754            0       397,754           0      11,933       385,821
REMAIN              0           0        74,271            0        74,271           0       2,228        72,043
TOTAL               0           0       472,025            0       472,025           0      14,161       457,864	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013          3,600           0      10,000           0        13,600        113,355       113,355        39,882
2014          3,600           0           0           0         3,600         87,404       200,759        27,885
2015          3,600           0           0           0         3,600         66,095       266,854        19,085
2016          3,600           0           0           0         3,600         50,990       317,844        13,326
2017          3,600           0           0           0         3,600         39,977       357,821         9,456

SUBTOT       18,000           0      10,000           0        28,000        357,821                     109,634
REMAIN        8,261           0           0           0         8,261         63,782       421,603        12,924
TOTAL        26,261           0      10,000           0        36,261        421,603                     122,558

  LIFE OF EVALUATION IS 17.29 YEARS.
  FINAL PRODUCTION RATE: 1.2 MMCF/MO	

TENGASCO, INC. TABLE 202
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEWEY SUTTON #1 (TRENTON) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE         8,665           0           0
ULTIMATE           8,665           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 203
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        41,622
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        38,139
REMARKS -                                                                                 15.00% -        35,175
                                                                                          20.00% -        32,630
                                                                                          25.00% -        30,428	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           7               0           0           6.084       0.00     4.22
2004     1             0           0           5               0           0           4.262       0.00     4.22
2005     1             0           0           4               0           0           3.391       0.00     4.22
2006     1             0           0           3               0           0           2.863       0.00     4.22
2007     1             0           0           3               0           0           2.502       0.00     4.22
2008     1             0           0           2               0           0           2.237       0.00     4.22
2009     1             0           0           3               0           0           2.033       0.00     4.22
2010     1             0           0           2               0           0           1.870       0.00     4.22
2011     1             0           0           1               0           0           0.592       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          30               0           0          25.834       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          30               0           0          25.834       0.00     4.22

CUMULATIVE             0           0           8
ULTIMATE               0           0          38	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        25,674            0        25,674           0         770        24,904
2004                0           0        17,987            0        17,987           0         540        17,447
2005                0           0        14,311            0        14,311           0         429        13,882
2006                0           0        12,082            0        12,082           0         363        11,719
2007                0           0        10,559            0        10,559           0         316        10,243
2008                0           0         9,441            0         9,441           0         284         9,157
2009                0           0         8,578            0         8,578           0         257         8,321
2010                0           0         7,890            0         7,890           0         237         7,653
2011                0           0         2,500            0         2,500           0          75         2,425
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       109,022            0       109,022           0       3,271       105,751
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       109,022            0       109,022           0       3,271       105,751	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         17,704        17,704        16,941
2004          7,200           0           0           0         7,200         10,247        27,951         8,862
2005          7,200           0           0           0         7,200          6,682        34,633         5,229
2006          7,200           0           0           0         7,200          4,519        39,152         3,200
2007          7,200           0           0           0         7,200          3,043        42,195         1,952
2008          7,200           0           0           0         7,200          1,957        44,152         1,136
2009          7,200           0           0           0         7,200          1,121        45,273           591
2010          7,200           0           0           0         7,200            453        45,726           217
2011          2,400           0           0           0         2,400             25        45,751            11
2012              0           0           0           0             0              0        45,751             0
2013              0           0           0           0             0              0        45,751             0
2014              0           0           0           0             0              0        45,751             0
2015              0           0           0           0             0              0        45,751             0
2016              0           0           0           0             0              0        45,751             0
2017              0           0           0           0             0              0        45,751             0

SUBTOT       60,000           0           0           0        60,000         45,751                      38,139
REMAIN            0           0           0           0             0              0        45,751             0
TOTAL        60,000           0           0           0        60,000         45,751                      38,139

  LIFE OF EVALUATION IS 8.33 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 204
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,320,768
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       745,979
REMARKS -                                                                                 15.00% -       434,602
                                                                                          20.00% -       259,309
                                                                                          25.00% -       157,591	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0         178               0           0         155.745       0.00     4.22
2012     1             0           0         102               0           0          89.129       0.00     4.22
2013     1             0           0          67               0           0          58.526       0.00     4.22
2014     1             0           0          52               0           0          45.478       0.00     4.22
2015     1             0           0          43               0           0          37.918       0.00     4.22
2016     1             0           0          38               0           0          32.884       0.00     4.22
2017     1             0           0          33               0           0          29.248       0.00     4.22

SUB-TOTAL              0           0         513               0           0         448.928       0.00     4.22
REMAINDER              0           0         203               0           0         177.283       0.00     4.22
TOTAL                  0           0         716               0           0         626.211       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         716	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0       657,244            0       657,244           0      19,717       637,527
2012                0           0       376,125            0       376,125           0      11,284       364,841
2013                0           0       246,978            0       246,978           0       7,409       239,569
2014                0           0       191,919            0       191,919           0       5,758       186,161
2015                0           0       160,015            0       160,015           0       4,800       155,215
2016                0           0       138,771            0       138,771           0       4,164       134,607
2017                0           0       123,425            0       123,425           0       3,702       119,723

SUB-TOT             0           0     1,894,477            0     1,894,477           0      56,834     1,837,643
REMAIN              0           0       748,135            0       748,135           0      22,444       725,691
TOTAL               0           0     2,642,612            0     2,642,612           0      79,278     2,563,334	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011          4,800           0      20,000           0        24,800        612,727       612,727       260,587
2012          7,200           0           0           0         7,200        357,641       970,368       139,582
2013          7,200           0           0           0         7,200        232,369     1,202,737        81,913
2014          7,200           0           0           0         7,200        178,961     1,381,698        57,061
2015          7,200           0           0           0         7,200        148,015     1,529,713        42,704
2016          7,200           0           0           0         7,200        127,407     1,657,120        33,265
2017          7,200           0           0           0         7,200        112,523     1,769,643        26,589

SUBTOT       48,000           0      20,000           0        68,000      1,769,643                     641,701
REMAIN       62,019           0           0           0        62,019        663,672     2,433,315       104,278
TOTAL       110,019           0      20,000           0       130,019      2,433,315                     745,979

  LIFE OF EVALUATION IS 23.61 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 205
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 BP2 (TRENTON-STONES RIVER) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        97,338
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        27,320
REMARKS -                                                                                 15.00% -         7,734
                                                                                          20.00% -         2,208
                                                                                          25.00% -           636	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         112               0           0          97.999       0.00     4.22
TOTAL                  0           0         112               0           0          97.999       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         112	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0       413,556            0       413,556           0      12,407       401,149
TOTAL               0           0       413,556            0       413,556           0      12,407       401,149	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       31,294           0      20,000           0        51,294        349,855       349,855        27,320
TOTAL        31,294           0      20,000           0        51,294        349,855                      27,320

  LIFE OF EVALUATION IS 28.01 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 206
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
F. WELLS #1 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       176,233
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       136,342
REMARKS -                                                                                 15.00% -       105,237
                                                                                          20.00% -        80,968
                                                                                          25.00% -        62,026	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          34               0           0          30.079       0.00     4.22
2006     1             0           0          40               0           0          34.440       0.00     4.22
2007     1             0           0          26               0           0          23.290       0.00     4.22
2008     1             0           0          21               0           0          18.286       0.00     4.22
2009     1             0           0           6               0           0           5.029       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       126,935            0       126,935           0       3,808       123,127
2006                0           0       145,337            0       145,337           0       4,360       140,977
2007                0           0        98,286            0        98,286           0       2,949        95,337
2008                0           0        77,165            0        77,165           0       2,315        74,850
2009                0           0        21,224            0        21,224           0         636        20,588
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          3,600           0     200,000           0       203,600        -80,473       -80,473       -64,148
2006          7,200           0           0           0         7,200        133,777        53,304        94,872
2007          7,200           0           0           0         7,200         88,137       141,441        56,472
2008          7,200           0           0           0         7,200         67,650       209,091        39,207
2009          2,241           0           0           0         2,241         18,347       227,438         9,939
2010              0           0           0           0             0              0       227,438             0
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     136,342
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     136,342

  LIFE OF EVALUATION IS 6.31 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 207
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
FRED PORTRUM #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -         2,421
FINAL   -   1.000000                      0.875000                             4.22       10.00% -         2,326
REMARKS -                                                                                 15.00% -         2,239
                                                                                          20.00% -         2,158
                                                                                          25.00% -         2,083	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           2.148       0.00     4.22
2004     1             0           0           3               0           0           1.920       0.00     4.22
2005     1             0           0           2               0           0           1.824       0.00     4.22
2006     1             0           0           0               0           0           0.295       0.00     4.22
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           7               0           0           6.187       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           7               0           0           6.187       0.00     4.22

CUMULATIVE             0           0           4
ULTIMATE               0           0          11	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         9,063            0         9,063           0         272         8,791
2004                0           0         8,102            0         8,102           0         243         7,859
2005                0           0         7,697            0         7,697           0         231         7,466
2006                0           0         1,245            0         1,245           0          37         1,208
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        26,107            0        26,107           0         783        25,324
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        26,107            0        26,107           0         783        25,324	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200          1,591         1,591         1,540
2004          7,200           0           0           0         7,200            659         2,250           571
2005          7,200           0           0           0         7,200            266         2,516           210
2006          1,200           0           0           0         1,200              8         2,524             5
2007              0           0           0           0             0              0         2,524             0
2008              0           0           0           0             0              0         2,524             0
2009              0           0           0           0             0              0         2,524             0
2010              0           0           0           0             0              0         2,524             0
2011              0           0           0           0             0              0         2,524             0
2012              0           0           0           0             0              0         2,524             0
2013              0           0           0           0             0              0         2,524             0
2014              0           0           0           0             0              0         2,524             0
2015              0           0           0           0             0              0         2,524             0
2016              0           0           0           0             0              0         2,524             0
2017              0           0           0           0             0              0         2,524             0

SUBTOT       22,800           0           0           0        22,800          2,524                       2,326
REMAIN            0           0           0           0             0              0         2,524             0
TOTAL        22,800           0           0           0        22,800          2,524                       2,326

  LIFE OF EVALUATION IS 3.17 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 208
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
FRED PORTRUM #2 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -           599
FINAL   -   1.000000                      0.875000                             4.22       10.00% -           597
REMARKS -                                                                                 15.00% -           595
                                                                                          20.00% -           593
                                                                                          25.00% -           591	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           1               0           0           0.440       0.00     4.22
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           1               0           0           0.440       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           1               0           0           0.440       0.00     4.22

CUMULATIVE             0           0           2
ULTIMATE               0           0           3	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         1,857            0         1,857           0          56         1,801
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0         1,857            0         1,857           0          56         1,801
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0         1,857            0         1,857           0          56         1,801	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,200           0           0           0         1,200            601           601           597
2004              0           0           0           0             0              0           601             0
2005              0           0           0           0             0              0           601             0
2006              0           0           0           0             0              0           601             0
2007              0           0           0           0             0              0           601             0
2008              0           0           0           0             0              0           601             0
2009              0           0           0           0             0              0           601             0
2010              0           0           0           0             0              0           601             0
2011              0           0           0           0             0              0           601             0
2012              0           0           0           0             0              0           601             0
2013              0           0           0           0             0              0           601             0
2014              0           0           0           0             0              0           601             0
2015              0           0           0           0             0              0           601             0
2016              0           0           0           0             0              0           601             0
2017              0           0           0           0             0              0           601             0

SUBTOT        1,200           0           0           0         1,200            601                         597
REMAIN            0           0           0           0             0              0           601             0
TOTAL         1,200           0           0           0         1,200            601                         597

  LIFE OF EVALUATION IS 0.17 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 209
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           9
ULTIMATE               0           0           9	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 210
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -     1,385,518
FINAL   -   1.000000                      0.656250                             4.22       10.00% -     1,053,647
REMARKS -                                                                                 15.00% -       847,432
                                                                                          20.00% -       709,977
                                                                                          25.00% -       612,674	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          96               0           0          63.048       0.00     4.22
2004     1             0           0          71               0           0          46.793       0.00     4.22
2005     1             0           0          60               0           0          38.953       0.00     4.22
2006     1             0           0          52               0           0          34.088       0.00     4.22
2007     1             0           0          46               0           0          30.689       0.00     4.22
2008     1             0           0          43               0           0          28.140       0.00     4.22
2009     1             0           0          40               0           0          26.138       0.00     4.22
2010     1             0           0          37               0           0          24.510       0.00     4.22
2011     1             0           0          36               0           0          23.153       0.00     4.22
2012     1             0           0          33               0           0          21.988       0.00     4.22
2013     1             0           0          32               0           0          20.888       0.00     4.22
2014     1             0           0          30               0           0          19.844       0.00     4.22
2015     1             0           0          29               0           0          18.852       0.00     4.22
2016     1             0           0          27               0           0          17.909       0.00     4.22
2017     1             0           0          26               0           0          17.014       0.00     4.22

SUB-TOTAL              0           0         658               0           0         432.007       0.00     4.22
REMAINDER              0           0         137               0           0          89.840       0.00     4.22
TOTAL                  0           0         795               0           0         521.847       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         795	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       266,061            0       266,061           0       7,982       258,079
2004                0           0       197,465            0       197,465           0       5,924       191,541
2005                0           0       164,382            0       164,382           0       4,931       159,451
2006                0           0       143,851            0       143,851           0       4,316       139,535
2007                0           0       129,506            0       129,506           0       3,885       125,621
2008                0           0       118,752            0       118,752           0       3,563       115,189
2009                0           0       110,301            0       110,301           0       3,309       106,992
2010                0           0       103,433            0       103,433           0       3,103       100,330
2011                0           0        97,707            0        97,707           0       2,931        94,776
2012                0           0        92,787            0        92,787           0       2,783        90,004
2013                0           0        88,149            0        88,149           0       2,645        85,504
2014                0           0        83,741            0        83,741           0       2,512        81,229
2015                0           0        79,554            0        79,554           0       2,387        77,167
2016                0           0        75,577            0        75,577           0       2,267        73,310
2017                0           0        71,797            0        71,797           0       2,154        69,643

SUB-TOT             0           0     1,823,063            0     1,823,063           0      54,692     1,768,371
REMAIN              0           0       379,125            0       379,125           0      11,374       367,751
TOTAL               0           0     2,202,188            0     2,202,188           0      66,066     2,136,122	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0      20,000           0        27,200        230,879       230,879       219,682
2004          7,200           0           0           0         7,200        184,341       415,220       159,127
2005          7,200           0           0           0         7,200        152,251       567,471       118,901
2006          7,200           0           0           0         7,200        132,335       699,806        93,523
2007          7,200           0           0           0         7,200        118,421       818,227        75,743
2008          7,200           0           0           0         7,200        107,989       926,216        62,516
2009          7,200           0           0           0         7,200         99,792     1,026,008        52,289
2010          7,200           0           0           0         7,200         93,130     1,119,138        44,171
2011          7,200           0           0           0         7,200         87,576     1,206,714        37,596
2012          7,200           0           0           0         7,200         82,804     1,289,518        32,178
2013          7,200           0           0           0         7,200         78,304     1,367,822        27,545
2014          7,200           0           0           0         7,200         74,029     1,441,851        23,573
2015          7,200           0           0           0         7,200         69,967     1,511,818        20,168
2016          7,200           0           0           0         7,200         66,110     1,577,928        17,250
2017          7,200           0           0           0         7,200         62,443     1,640,371        14,748

SUBTOT      108,000           0      20,000           0       128,000      1,640,371                     999,010
REMAIN       45,707           0           0           0        45,707        322,044     1,962,415        54,637
TOTAL       153,707           0      20,000           0       173,707      1,962,415                   1,053,647

  LIFE OF EVALUATION IS 21.35 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 211
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.656250            0.656250     26.90                   4.22        5.00% -       143,022
FINAL   -   1.000000  0.656250            0.656250     26.90                   4.22       10.00% -        45,857
REMARKS -                                                                                 15.00% -        14,823
                                                                                          20.00% -         4,829
                                                                                          25.00% -         1,585	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER         20,616           0          69          13,530           0          45.230      26.90     4.22
TOTAL             20,616           0          69          13,530           0          45.230      26.90     4.22

CUMULATIVE             0           0           0
ULTIMATE          20,616           0          69	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN        363,945           0       190,869            0       554,814      10,918       5,726       538,170
TOTAL         363,945           0       190,869            0       554,814      10,918       5,726       538,170	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       63,308           0      25,000           0        88,308        449,862       449,862        45,857
TOTAL        63,308           0      25,000           0        88,308        449,862                      45,857

  LIFE OF EVALUATION IS 28.01 YEARS.
  FINAL PRODUCTION RATE: 31 BBLS/MO	

TENGASCO, INC. TABLE 212
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
GUY TOBEY #1 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       174,048
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       132,989
REMARKS -                                                                                 15.00% -       101,387
                                                                                          20.00% -        77,051
                                                                                          25.00% -        58,306	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          20               0           0          17.254       0.00     4.22
2006     1             0           0          46               0           0          40.155       0.00     4.22
2007     1             0           0          28               0           0          25.172       0.00     4.22
2008     1             0           0          22               0           0          19.274       0.00     4.22
2009     1             0           0          11               0           0           9.271       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        72,813            0        72,813           0       2,184        70,629
2006                0           0       169,452            0       169,452           0       5,084       164,368
2007                0           0       106,225            0       106,225           0       3,187       103,038
2008                0           0        81,336            0        81,336           0       2,440        78,896
2009                0           0        39,121            0        39,121           0       1,173        37,948
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -131,171      -131,171       -99,728
2006          7,200           0           0           0         7,200        157,168        25,997       111,585
2007          7,200           0           0           0         7,200         95,838       121,835        61,424
2008          7,200           0           0           0         7,200         71,696       193,531        41,558
2009          4,041           0           0           0         4,041         33,907       227,438        18,150
2010              0           0           0           0             0              0       227,438             0
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     132,989
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     132,989

  LIFE OF EVALUATION IS 6.56 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 213
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
HAZEL SUTTON #2 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        62,934
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        55,210
REMARKS -                                                                                 15.00% -        49,136
                                                                                          20.00% -        44,264
                                                                                          25.00% -        40,285	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           7               0           0           6.560       0.00     4.22
2004     1             0           0           6               0           0           5.031       0.00     4.22
2005     1             0           0           5               0           0           4.167       0.00     4.22
2006     1             0           0           4               0           0           3.599       0.00     4.22
2007     1             0           0           4               0           0           3.192       0.00     4.22
2008     1             0           0           3               0           0           2.884       0.00     4.22
2009     1             0           0           3               0           0           2.641       0.00     4.22
2010     1             0           0           3               0           0           2.443       0.00     4.22
2011     1             0           0           2               0           0           2.279       0.00     4.22
2012     1             0           0           3               0           0           2.140       0.00     4.22
2013     1             0           0           2               0           0           2.020       0.00     4.22
2014     1             0           0           2               0           0           1.916       0.00     4.22
2015     1             0           0           3               0           0           1.820       0.00     4.22
2016     1             0           0           0               0           0           0.294       0.00     4.22
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          47               0           0          40.986       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          47               0           0          40.986       0.00     4.22

CUMULATIVE             0           0          32
ULTIMATE               0           0          79	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        27,685            0        27,685           0         831        26,854
2004                0           0        21,230            0        21,230           0         636        20,594
2005                0           0        17,582            0        17,582           0         528        17,054
2006                0           0        15,187            0        15,187           0         456        14,731
2007                0           0        13,471            0        13,471           0         404        13,067
2008                0           0        12,171            0        12,171           0         365        11,806
2009                0           0        11,144            0        11,144           0         334        10,810
2010                0           0        10,311            0        10,311           0         309        10,002
2011                0           0         9,618            0         9,618           0         289         9,329
2012                0           0         9,030            0         9,030           0         271         8,759
2013                0           0         8,525            0         8,525           0         256         8,269
2014                0           0         8,084            0         8,084           0         242         7,842
2015                0           0         7,680            0         7,680           0         231         7,449
2016                0           0         1,242            0         1,242           0          37         1,205
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       172,960            0       172,960           0       5,189       167,771
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       172,960            0       172,960           0       5,189       167,771	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         19,654        19,654        18,775
2004          7,200           0           0           0         7,200         13,394        33,048        11,572
2005          7,200           0           0           0         7,200          9,854        42,902         7,703
2006          7,200           0           0           0         7,200          7,531        50,433         5,328
2007          7,200           0           0           0         7,200          5,867        56,300         3,757
2008          7,200           0           0           0         7,200          4,606        60,906         2,670
2009          7,200           0           0           0         7,200          3,610        64,516         1,895
2010          7,200           0           0           0         7,200          2,802        67,318         1,331
2011          7,200           0           0           0         7,200          2,129        69,447           915
2012          7,200           0           0           0         7,200          1,559        71,006           608
2013          7,200           0           0           0         7,200          1,069        72,075           377
2014          7,200           0           0           0         7,200            642        72,717           205
2015          7,200           0           0           0         7,200            249        72,966            73
2016          1,200           0           0           0         1,200              5        72,971             1
2017              0           0           0           0             0              0        72,971             0

SUBTOT       94,800           0           0           0        94,800         72,971                      55,210
REMAIN            0           0           0           0             0              0        72,971             0
TOTAL        94,800           0           0           0        94,800         72,971                      55,210

  LIFE OF EVALUATION IS 13.17 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 214
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 8-T1S-R75E PROVED
HUGH ROBERTS #1 (REEDSVILLE) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       133,544
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       123,855
REMARKS -                                                                                 15.00% -       115,074
                                                                                          20.00% -       107,100
                                                                                          25.00% -        99,845	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          27               0           0          11.845       0.00     4.22
2004     1             0           0          32               0           0          14.086       0.00     4.22
2005     1             0           0          22               0           0           9.656       0.00     4.22
2006     1             0           0           5               0           0           2.076       0.00     4.22
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          86               0           0          37.663       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          86               0           0          37.663       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          86	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        49,984            0        49,984           0       1,500        48,484
2004                0           0        59,442            0        59,442           0       1,783        57,659
2005                0           0        40,747            0        40,747           0       1,222        39,525
2006                0           0         8,761            0         8,761           0         263         8,498
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       158,934            0       158,934           0       4,768       154,166
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       158,934            0       158,934           0       4,768       154,166	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,800           0           0           0         1,800         46,684        46,684        43,427
2004          3,600           0           0           0         3,600         54,059       100,743        46,780
2005          3,600           0           0           0         3,600         35,925       136,668        28,090
2006            911           0           0           0           911          7,587       144,255         5,558
2007              0           0           0           0             0              0       144,255             0
2008              0           0           0           0             0              0       144,255             0
2009              0           0           0           0             0              0       144,255             0
2010              0           0           0           0             0              0       144,255             0
2011              0           0           0           0             0              0       144,255             0
2012              0           0           0           0             0              0       144,255             0
2013              0           0           0           0             0              0       144,255             0
2014              0           0           0           0             0              0       144,255             0
2015              0           0           0           0             0              0       144,255             0
2016              0           0           0           0             0              0       144,255             0
2017              0           0           0           0             0              0       144,255             0

SUBTOT        9,911           0           0           0         9,911        144,255                     123,855
REMAIN            0           0           0           0             0              0       144,255             0
TOTAL         9,911           0           0           0         9,911        144,255                     123,855

  LIFE OF EVALUATION IS 3.25 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 215
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 8-T1S-R75E PROVED
HUGH ROBERTS #1 BP (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       225,131
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       166,968
REMARKS -                                                                                 15.00% -       125,096
                                                                                          20.00% -        94,621
                                                                                          25.00% -        72,205	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0          31               0           0          13.585       0.00     4.22
2007     1             0           0          36               0           0          15.717       0.00     4.22
2008     1             0           0          29               0           0          12.852       0.00     4.22
2009     1             0           0          26               0           0          11.145       0.00     4.22
2010     1             0           0          23               0           0           9.979       0.00     4.22
2011     1             0           0          20               0           0           9.116       0.00     4.22
2012     1             0           0          20               0           0           8.445       0.00     4.22
2013     1             0           0           6               0           0           2.724       0.00     4.22
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0          83.563       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0          83.563       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0        57,329            0        57,329           0       1,720        55,609
2007                0           0        66,327            0        66,327           0       1,990        64,337
2008                0           0        54,235            0        54,235           0       1,627        52,608
2009                0           0        47,032            0        47,032           0       1,411        45,621
2010                0           0        42,110            0        42,110           0       1,263        40,847
2011                0           0        38,470            0        38,470           0       1,154        37,316
2012                0           0        35,637            0        35,637           0       1,069        34,568
2013                0           0        11,494            0        11,494           0         345        11,149
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       352,634            0       352,634           0      10,579       342,055
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       352,634            0       352,634           0      10,579       342,055	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          2,400           0      10,000           0        12,400         43,209        43,209        29,851
2007          3,600           0           0           0         3,600         60,737       103,946        38,899
2008          3,600           0           0           0         3,600         49,008       152,954        28,393
2009          3,600           0           0           0         3,600         42,021       194,975        22,029
2010          3,600           0           0           0         3,600         37,247       232,222        17,672
2011          3,600           0           0           0         3,600         33,716       265,938        14,478
2012          3,600           0           0           0         3,600         30,968       296,906        12,037
2013          1,215           0           0           0         1,215          9,934       306,840         3,609
2014              0           0           0           0             0              0       306,840             0
2015              0           0           0           0             0              0       306,840             0
2016              0           0           0           0             0              0       306,840             0
2017              0           0           0           0             0              0       306,840             0

SUBTOT       25,215           0      10,000           0        35,215        306,840                     166,968
REMAIN            0           0           0           0             0              0       306,840             0
TOTAL        25,215           0      10,000           0        35,215        306,840                     166,968

  LIFE OF EVALUATION IS 10.34 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 216
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 7-T1S-R75E PROVED
JEFF JOHNSON #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -        84,483
FINAL   -   0.500000                      0.437500                             4.22       10.00% -        69,161
REMARKS -                                                                                 15.00% -        58,707
                                                                                          20.00% -        51,170
                                                                                          25.00% -        45,486	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          13               0           0           5.789       0.00     4.22
2004     1             0           0          10               0           0           4.367       0.00     4.22
2005     1             0           0           8               0           0           3.588       0.00     4.22
2006     1             0           0           7               0           0           3.084       0.00     4.22
2007     1             0           0           7               0           0           2.727       0.00     4.22
2008     1             0           0           5               0           0           2.458       0.00     4.22
2009     1             0           0           5               0           0           2.247       0.00     4.22
2010     1             0           0           5               0           0           2.077       0.00     4.22
2011     1             0           0           5               0           0           1.935       0.00     4.22
2012     1             0           0           4               0           0           1.815       0.00     4.22
2013     1             0           0           4               0           0           1.712       0.00     4.22
2014     1             0           0           3               0           0           1.623       0.00     4.22
2015     1             0           0           4               0           0           1.542       0.00     4.22
2016     1             0           0           3               0           0           1.465       0.00     4.22
2017     1             0           0           3               0           0           1.391       0.00     4.22

SUB-TOTAL              0           0          86               0           0          37.820       0.00     4.22
REMAINDER              0           0          22               0           0           9.268       0.00     4.22
TOTAL                  0           0         108               0           0          47.088       0.00     4.22

CUMULATIVE             0           0          51
ULTIMATE               0           0         159	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        24,431            0        24,431           0         733        23,698
2004                0           0        18,428            0        18,428           0         553        17,875
2005                0           0        15,140            0        15,140           0         454        14,686
2006                0           0        13,016            0        13,016           0         390        12,626
2007                0           0        11,509            0        11,509           0         346        11,163
2008                0           0        10,374            0        10,374           0         311        10,063
2009                0           0         9,484            0         9,484           0         284         9,200
2010                0           0         8,763            0         8,763           0         263         8,500
2011                0           0         8,165            0         8,165           0         245         7,920
2012                0           0         7,660            0         7,660           0         230         7,430
2013                0           0         7,226            0         7,226           0         217         7,009
2014                0           0         6,849            0         6,849           0         205         6,644
2015                0           0         6,505            0         6,505           0         196         6,309
2016                0           0         6,181            0         6,181           0         185         5,996
2017                0           0         5,871            0         5,871           0         176         5,695

SUB-TOT             0           0       159,602            0       159,602           0       4,788       154,814
REMAIN              0           0        39,113            0        39,113           0       1,173        37,940
TOTAL               0           0       198,715            0       198,715           0       5,961       192,754	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0           0           0         3,600         20,098        20,098        19,194
2004          3,600           0           0           0         3,600         14,275        34,373        12,328
2005          3,600           0           0           0         3,600         11,086        45,459         8,662
2006          3,600           0           0           0         3,600          9,026        54,485         6,383
2007          3,600           0           0           0         3,600          7,563        62,048         4,840
2008          3,600           0           0           0         3,600          6,463        68,511         3,743
2009          3,600           0           0           0         3,600          5,600        74,111         2,936
2010          3,600           0           0           0         3,600          4,900        79,011         2,325
2011          3,600           0           0           0         3,600          4,320        83,331         1,856
2012          3,600           0           0           0         3,600          3,830        87,161         1,489
2013          3,600           0           0           0         3,600          3,409        90,570         1,200
2014          3,600           0           0           0         3,600          3,044        93,614           969
2015          3,600           0           0           0         3,600          2,709        96,323           782
2016          3,600           0           0           0         3,600          2,396        98,719           625
2017          3,600           0           0           0         3,600          2,095       100,814           495

SUBTOT       54,000           0           0           0        54,000        100,814                      67,827
REMAIN       30,300           0           0           0        30,300          7,640       108,454         1,334
TOTAL        84,300           0           0           0        84,300        108,454                      69,161

  LIFE OF EVALUATION IS 23.42 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 217
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
JEFF JOHNSON #2 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        39,152
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        23,381
REMARKS -                                                                                 15.00% -         9,952
                                                                                          20.00% -        -1,482
                                                                                          25.00% -       -11,216	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          19               0           0          16.689       0.00     4.22
2004     1             0           0          25               0           0          21.539       0.00     4.22
2005     1             0           0          17               0           0          15.268       0.00     4.22
2006     1             0           0          14               0           0          12.207       0.00     4.22
2007     1             0           0           5               0           0           4.066       0.00     4.22
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          80               0           0          69.769       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          80               0           0          69.769       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          80	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        70,429            0        70,429           0       2,113        68,316
2004                0           0        90,894            0        90,894           0       2,727        88,167
2005                0           0        64,432            0        64,432           0       1,933        62,499
2006                0           0        51,512            0        51,512           0       1,545        49,967
2007                0           0        17,158            0        17,158           0         515        16,643
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       294,425            0       294,425           0       8,833       285,592
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       294,425            0       294,425           0       8,833       285,592	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0     200,000           0       203,600       -135,284      -135,284      -129,324
2004          7,200           0           0           0         7,200         80,967       -54,317        70,038
2005          7,200           0           0           0         7,200         55,299           982        43,235
2006          7,200           0           0           0         7,200         42,767        43,749        30,248
2007          2,708           0           0           0         2,708         13,935        57,684         9,184
2008              0           0           0           0             0              0        57,684             0
2009              0           0           0           0             0              0        57,684             0
2010              0           0           0           0             0              0        57,684             0
2011              0           0           0           0             0              0        57,684             0
2012              0           0           0           0             0              0        57,684             0
2013              0           0           0           0             0              0        57,684             0
2014              0           0           0           0             0              0        57,684             0
2015              0           0           0           0             0              0        57,684             0
2016              0           0           0           0             0              0        57,684             0
2017              0           0           0           0             0              0        57,684             0

SUBTOT       27,908           0     200,000           0       227,908         57,684                      23,381
REMAIN            0           0           0           0             0              0        57,684             0
TOTAL        27,908           0     200,000           0       227,908         57,684                      23,381

  LIFE OF EVALUATION IS 4.38 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 218
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROBABLE
LANGE #1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.000000                      0.062500                             4.22        5.00% -        33,412
FINAL   -   0.000000                      0.062500                             4.22       10.00% -        26,433
REMARKS -                                                                                 15.00% -        21,330
                                                                                          20.00% -        17,521
                                                                                          25.00% -        14,620	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          27               0           0           1.661       0.00     4.22
2005     1             0           0          22               0           0           1.375       0.00     4.22
2006     1             0           0          19               0           0           1.200       0.00     4.22
2007     1             0           0          17               0           0           1.078       0.00     4.22
2008     1             0           0          16               0           0           0.987       0.00     4.22
2009     1             0           0          14               0           0           0.916       0.00     4.22
2010     1             0           0          14               0           0           0.859       0.00     4.22
2011     1             0           0          13               0           0           0.802       0.00     4.22
2012     1             0           0          12               0           0           0.750       0.00     4.22
2013     1             0           0          11               0           0           0.712       0.00     4.22
2014     1             0           0           4               0           0           0.203       0.00     4.22
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         169               0           0          10.543       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         169               0           0          10.543       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         169	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0         7,011            0         7,011           0         210         6,801
2005                0           0         5,802            0         5,802           0         174         5,628
2006                0           0         5,063            0         5,063           0         152         4,911
2007                0           0         4,549            0         4,549           0         137         4,412
2008                0           0         4,166            0         4,166           0         125         4,041
2009                0           0         3,867            0         3,867           0         116         3,751
2010                0           0         3,623            0         3,623           0         108         3,515
2011                0           0         3,385            0         3,385           0         102         3,283
2012                0           0         3,165            0         3,165           0          95         3,070
2013                0           0         3,007            0         3,007           0          90         2,917
2014                0           0           858            0           858           0          26           832
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        44,496            0        44,496           0       1,335        43,161
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        44,496            0        44,496           0       1,335        43,161	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0          6,801         6,801         5,871
2005              0           0           0           0             0          5,628        12,429         4,395
2006              0           0           0           0             0          4,911        17,340         3,470
2007              0           0           0           0             0          4,412        21,752         2,822
2008              0           0           0           0             0          4,041        25,793         2,339
2009              0           0           0           0             0          3,751        29,544         1,966
2010              0           0           0           0             0          3,515        33,059         1,667
2011              0           0           0           0             0          3,283        36,342         1,410
2012              0           0           0           0             0          3,070        39,412         1,193
2013              0           0           0           0             0          2,917        42,329         1,026
2014              0           0           0           0             0            832        43,161           274
2015              0           0           0           0             0              0        43,161             0
2016              0           0           0           0             0              0        43,161             0
2017              0           0           0           0             0              0        43,161             0

SUBTOT            0           0           0           0             0         43,161                      26,433
REMAIN            0           0           0           0             0              0        43,161             0
TOTAL             0           0           0           0             0         43,161                      26,433

  LIFE OF EVALUATION IS 11.29 YEARS.
  FINAL PRODUCTION RATE: 0.9 MMCF/MO	

TENGASCO, INC. TABLE 219
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROBABLE
LANGE #1 BP (TRENTON-SR-MB) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.000000                      0.062500                             4.22        5.00% -        12,235
FINAL   -   0.000000                      0.062500                             4.22       10.00% -         6,535
REMARKS -                                                                                 15.00% -         3,508
                                                                                          20.00% -         1,892
                                                                                          25.00% -         1,026	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0          30               0           0           1.858       0.00     4.22
2015     1             0           0          28               0           0           1.782       0.00     4.22
2016     1             0           0          19               0           0           1.153       0.00     4.22
2017     1             0           0          13               0           0           0.810       0.00     4.22

SUB-TOTAL              0           0          90               0           0           5.603       0.00     4.22
REMAINDER              0           0           0               0           0           0.022       0.00     4.22
TOTAL                  0           0          90               0           0           5.625       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          90	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0         7,839            0         7,839           0         235         7,604
2015                0           0         7,520            0         7,520           0         226         7,294
2016                0           0         4,867            0         4,867           0         146         4,721
2017                0           0         3,419            0         3,419           0         102         3,317

SUB-TOT             0           0        23,645            0        23,645           0         709        22,936
REMAIN              0           0            91            0            91           0           3            88
TOTAL               0           0        23,736            0        23,736           0         712        23,024	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0          7,604         7,604         2,385
2015              0           0           0           0             0          7,294        14,898         2,110
2016              0           0           0           0             0          4,721        19,619         1,235
2017              0           0           0           0             0          3,317        22,936           785

SUBTOT            0           0           0           0             0         22,936                       6,515
REMAIN            0           0           0           0             0             88        23,024            20
TOTAL             0           0           0           0             0         23,024                       6,535

  LIFE OF EVALUATION IS 15.03 YEARS.
  FINAL PRODUCTION RATE: 0.9 MMCF/MO	

TENGASCO, INC. TABLE 220
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #1 (MURFREESBORO) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       194,657
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       145,314
REMARKS -                                                                                 15.00% -       114,817
                                                                                          20.00% -        94,538
                                                                                          25.00% -        80,233	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           9               0           0           7.778       0.00     4.22
2004     1             0           0           8               0           0           7.389       0.00     4.22
2005     1             0           0           8               0           0           7.019       0.00     4.22
2006     1             0           0           8               0           0           6.668       0.00     4.22
2007     1             0           0           7               0           0           6.335       0.00     4.22
2008     1             0           0           7               0           0           6.018       0.00     4.22
2009     1             0           0           7               0           0           5.717       0.00     4.22
2010     1             0           0           6               0           0           5.431       0.00     4.22
2011     1             0           0           6               0           0           5.160       0.00     4.22
2012     1             0           0           5               0           0           4.902       0.00     4.22
2013     1             0           0           6               0           0           4.657       0.00     4.22
2014     1             0           0           5               0           0           4.424       0.00     4.22
2015     1             0           0           5               0           0           4.203       0.00     4.22
2016     1             0           0           4               0           0           3.993       0.00     4.22
2017     1             0           0           4               0           0           3.793       0.00     4.22

SUB-TOTAL              0           0          95               0           0          83.487       0.00     4.22
REMAINDER              0           0          36               0           0          31.076       0.00     4.22
TOTAL                  0           0         131               0           0         114.563       0.00     4.22

CUMULATIVE             0           0          10
ULTIMATE               0           0         141	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        32,822            0        32,822           0         985        31,837
2004                0           0        31,180            0        31,180           0         935        30,245
2005                0           0        29,622            0        29,622           0         889        28,733
2006                0           0        28,141            0        28,141           0         844        27,297
2007                0           0        26,733            0        26,733           0         802        25,931
2008                0           0        25,397            0        25,397           0         762        24,635
2009                0           0        24,127            0        24,127           0         724        23,403
2010                0           0        22,921            0        22,921           0         687        22,234
2011                0           0        21,774            0        21,774           0         654        21,120
2012                0           0        20,686            0        20,686           0         620        20,066
2013                0           0        19,652            0        19,652           0         590        19,062
2014                0           0        18,669            0        18,669           0         560        18,109
2015                0           0        17,735            0        17,735           0         532        17,203
2016                0           0        16,849            0        16,849           0         505        16,344
2017                0           0        16,007            0        16,007           0         480        15,527

SUB-TOT             0           0       352,315            0       352,315           0      10,569       341,746
REMAIN              0           0       131,142            0       131,142           0       3,935       127,207
TOTAL               0           0       483,457            0       483,457           0      14,504       468,953	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         24,637        24,637        23,463
2004          7,200           0           0           0         7,200         23,045        47,682        19,866
2005          7,200           0           0           0         7,200         21,533        69,215        16,804
2006          7,200           0           0           0         7,200         20,097        89,312        14,197
2007          7,200           0           0           0         7,200         18,731       108,043        11,977
2008          7,200           0           0           0         7,200         17,435       125,478        10,092
2009          7,200           0           0           0         7,200         16,203       141,681         8,491
2010          7,200           0           0           0         7,200         15,034       156,715         7,131
2011          7,200           0           0           0         7,200         13,920       170,635         5,977
2012          7,200           0           0           0         7,200         12,866       183,501         5,000
2013          7,200           0           0           0         7,200         11,862       195,363         4,174
2014          7,200           0           0           0         7,200         10,909       206,272         3,475
2015          7,200           0           0           0         7,200         10,003       216,275         2,884
2016          7,200           0           0           0         7,200          9,144       225,419         2,386
2017          7,200           0           0           0         7,200          8,327       233,746         1,968

SUBTOT      108,000           0           0           0       108,000        233,746                     137,885
REMAIN       79,204           0           0           0        79,204         48,003       281,749         7,429
TOTAL       187,204           0           0           0       187,204        281,749                     145,314

  LIFE OF EVALUATION IS 26.00 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 221
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #2 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -     1,590,796
FINAL   -   1.000000                      0.656250                             4.22       10.00% -     1,115,810
REMARKS -                                                                                 15.00% -       862,779
                                                                                          20.00% -       706,178
                                                                                          25.00% -       599,511	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          76               0           0          50.068       0.00     4.22
2004     1             0           0          68               0           0          44.159       0.00     4.22
2005     1             0           0          60               0           0          39.734       0.00     4.22
2006     1             0           0          55               0           0          36.275       0.00     4.22
2007     1             0           0          51               0           0          33.483       0.00     4.22
2008     1             0           0          48               0           0          31.173       0.00     4.22
2009     1             0           0          44               0           0          29.224       0.00     4.22
2010     1             0           0          42               0           0          27.554       0.00     4.22
2011     1             0           0          40               0           0          26.103       0.00     4.22
2012     1             0           0          38               0           0          24.794       0.00     4.22
2013     1             0           0          36               0           0          23.554       0.00     4.22
2014     1             0           0          34               0           0          22.376       0.00     4.22
2015     1             0           0          32               0           0          21.257       0.00     4.22
2016     1             0           0          31               0           0          20.195       0.00     4.22
2017     1             0           0          29               0           0          19.185       0.00     4.22

SUB-TOTAL              0           0         684               0           0         449.134       0.00     4.22
REMAINDER              0           0         464               0           0         303.973       0.00     4.22
TOTAL                  0           0       1,148               0           0         753.107       0.00     4.22

CUMULATIVE             0           0         157
ULTIMATE               0           0       1,305	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       211,289            0       211,289           0       6,339       204,950
2004                0           0       186,349            0       186,349           0       5,590       180,759
2005                0           0       167,678            0       167,678           0       5,030       162,648
2006                0           0       153,081            0       153,081           0       4,593       148,488
2007                0           0       141,297            0       141,297           0       4,239       137,058
2008                0           0       131,549            0       131,549           0       3,946       127,603
2009                0           0       123,326            0       123,326           0       3,700       119,626
2010                0           0       116,278            0       116,278           0       3,488       112,790
2011                0           0       110,157            0       110,157           0       3,305       106,852
2012                0           0       104,629            0       104,629           0       3,139       101,490
2013                0           0        99,398            0        99,398           0       2,982        96,416
2014                0           0        94,427            0        94,427           0       2,833        91,594
2015                0           0        89,707            0        89,707           0       2,691        87,016
2016                0           0        85,221            0        85,221           0       2,557        82,664
2017                0           0        80,960            0        80,960           0       2,428        78,532

SUB-TOT             0           0     1,895,346            0     1,895,346           0      56,860     1,838,486
REMAIN              0           0     1,282,764            0     1,282,764           0      38,483     1,244,281
TOTAL               0           0     3,178,110            0     3,178,110           0      95,343     3,082,767	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200        197,750       197,750       188,443
2004          7,200           0           0           0         7,200        173,559       371,309       149,685
2005          7,200           0           0           0         7,200        155,448       526,757       121,340
2006          7,200           0           0           0         7,200        141,288       668,045        99,823
2007          7,200           0           0           0         7,200        129,858       797,903        83,044
2008          7,200           0           0           0         7,200        120,403       918,306        69,695
2009          7,200           0           0           0         7,200        112,426     1,030,732        58,905
2010          7,200           0           0           0         7,200        105,590     1,136,322        50,078
2011          7,200           0           0           0         7,200         99,652     1,235,974        42,780
2012          7,200           0           0           0         7,200         94,290     1,330,264        36,642
2013          7,200           0           0           0         7,200         89,216     1,419,480        31,383
2014          7,200           0           0           0         7,200         84,394     1,503,874        26,873
2015          7,200           0           0           0         7,200         79,816     1,583,690        23,007
2016          7,200           0           0           0         7,200         75,464     1,659,154        19,690
2017          7,200           0           0           0         7,200         71,332     1,730,486        16,848

SUBTOT      108,000           0           0           0       108,000      1,730,486                   1,018,236
REMAIN      252,000           0           0           0       252,000        992,281     2,722,767        97,574
TOTAL       360,000           0           0           0       360,000      2,722,767                   1,115,810

  LIFE OF EVALUATION IS 50.00 YEARS.
  FINAL PRODUCTION RATE: 0.4 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    222
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  TENGASCO, INC. - OPERATOR   6-T1S-R75E                           PROVED
    LAURA J. LAWSON #2 BP   (TRENTON-MURFREESBORO)                 BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD.                                15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 49.92 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 223
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LAURA J. LAWSON #3 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.940000                      0.822500                             4.22        5.00% -        13,375
FINAL   -   0.940000                      0.822500                             4.22       10.00% -        11,775
REMARKS -                                                                                 15.00% -        10,462
                                                                                          20.00% -         9,375
                                                                                          25.00% -         8,467	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           3               0           0           2.461       0.00     4.22
2004     1             0           0           3               0           0           2.402       0.00     4.22
2005     1             0           0           3               0           0           2.282       0.00     4.22
2006     1             0           0           2               0           0           2.167       0.00     4.22
2007     1             0           0           3               0           0           2.059       0.00     4.22
2008     1             0           0           2               0           0           1.956       0.00     4.22
2009     1             0           0           2               0           0           1.858       0.00     4.22
2010     1             0           0           3               0           0           1.765       0.00     4.22
2011     1             0           0           1               0           0           1.266       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          22               0           0          18.216       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          22               0           0          18.216       0.00     4.22

CUMULATIVE             0           0           4
ULTIMATE               0           0          26	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        10,386            0        10,386           0         312        10,074
2004                0           0        10,135            0        10,135           0         304         9,831
2005                0           0         9,628            0         9,628           0         288         9,340
2006                0           0         9,146            0         9,146           0         275         8,871
2007                0           0         8,690            0         8,690           0         261         8,429
2008                0           0         8,254            0         8,254           0         247         8,007
2009                0           0         7,842            0         7,842           0         235         7,607
2010                0           0         7,450            0         7,450           0         224         7,226
2011                0           0         5,342            0         5,342           0         160         5,182
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        76,873            0        76,873           0       2,306        74,567
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        76,873            0        76,873           0       2,306        74,567	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,768           0           0           0         6,768          3,306         3,306         3,147
2004          6,768           0           0           0         6,768          3,063         6,369         2,642
2005          6,768           0           0           0         6,768          2,572         8,941         2,009
2006          6,768           0           0           0         6,768          2,103        11,044         1,488
2007          6,768           0           0           0         6,768          1,661        12,705         1,064
2008          6,768           0           0           0         6,768          1,239        13,944           718
2009          6,768           0           0           0         6,768            839        14,783           441
2010          6,768           0           0           0         6,768            458        15,241           219
2011          5,076           0           0           0         5,076            106        15,347            47
2012              0           0           0           0             0              0        15,347             0
2013              0           0           0           0             0              0        15,347             0
2014              0           0           0           0             0              0        15,347             0
2015              0           0           0           0             0              0        15,347             0
2016              0           0           0           0             0              0        15,347             0
2017              0           0           0           0             0              0        15,347             0

SUBTOT       59,220           0           0           0        59,220         15,347                      11,775
REMAIN            0           0           0           0             0              0        15,347             0
TOTAL        59,220           0           0           0        59,220         15,347                      11,775

  LIFE OF EVALUATION IS 8.75 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 224
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #4 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        26,671
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        22,669
REMARKS -                                                                                 15.00% -        19,570
                                                                                          20.00% -        17,130
                                                                                          25.00% -        15,176	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           3.068       0.00     4.22
2004     1             0           0           3               0           0           2.996       0.00     4.22
2005     1             0           0           3               0           0           2.847       0.00     4.22
2006     1             0           0           3               0           0           2.704       0.00     4.22
2007     1             0           0           3               0           0           2.569       0.00     4.22
2008     1             0           0           3               0           0           2.441       0.00     4.22
2009     1             0           0           3               0           0           2.319       0.00     4.22
2010     1             0           0           2               0           0           2.203       0.00     4.22
2011     1             0           0           3               0           0           2.092       0.00     4.22
2012     1             0           0           2               0           0           1.988       0.00     4.22
2013     1             0           0           2               0           0           1.888       0.00     4.22
2014     1             0           0           2               0           0           1.648       0.00     4.22
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          33               0           0          28.763       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          33               0           0          28.763       0.00     4.22

CUMULATIVE             0           0           6
ULTIMATE               0           0          39	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        12,945            0        12,945           0         388        12,557
2004                0           0        12,644            0        12,644           0         380        12,264
2005                0           0        12,013            0        12,013           0         360        11,653
2006                0           0        11,412            0        11,412           0         342        11,070
2007                0           0        10,841            0        10,841           0         326        10,515
2008                0           0        10,299            0        10,299           0         309         9,990
2009                0           0         9,784            0         9,784           0         293         9,491
2010                0           0         9,295            0         9,295           0         279         9,016
2011                0           0         8,831            0         8,831           0         265         8,566
2012                0           0         8,388            0         8,388           0         252         8,136
2013                0           0         7,970            0         7,970           0         239         7,731
2014                0           0         6,954            0         6,954           0         208         6,746
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       121,376            0       121,376           0       3,641       117,735
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       121,376            0       121,376           0       3,641       117,735	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200          5,357         5,357         5,099
2004          7,200           0           0           0         7,200          5,064        10,421         4,367
2005          7,200           0           0           0         7,200          4,453        14,874         3,477
2006          7,200           0           0           0         7,200          3,870        18,744         2,736
2007          7,200           0           0           0         7,200          3,315        22,059         2,121
2008          7,200           0           0           0         7,200          2,790        24,849         1,617
2009          7,200           0           0           0         7,200          2,291        27,140         1,202
2010          7,200           0           0           0         7,200          1,816        28,956           862
2011          7,200           0           0           0         7,200          1,366        30,322           588
2012          7,200           0           0           0         7,200            936        31,258           365
2013          7,200           0           0           0         7,200            531        31,789           188
2014          6,600           0           0           0         6,600            146        31,935            47
2015              0           0           0           0             0              0        31,935             0
2016              0           0           0           0             0              0        31,935             0
2017              0           0           0           0             0              0        31,935             0

SUBTOT       85,800           0           0           0        85,800         31,935                      22,669
REMAIN            0           0           0           0             0              0        31,935             0
TOTAL        85,800           0           0           0        85,800         31,935                      22,669

  LIFE OF EVALUATION IS 11.92 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    225
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  TENGASCO, INC. - OPERATOR   6-T1S-R75E                           PROVED
    LAURA J. LAWSON #4 BP   (KNOX)                                 BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        86,467
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        30,721
REMARKS -                                                                                 15.00% -        11,870
                                                                                          20.00% -         4,834
                                                                                          25.00% -         2,034	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           1               0           0           0.524       0.00     4.22
2015     1             0           0           7               0           0           6.188       0.00     4.22
2016     1             0           0           7               0           0           5.999       0.00     4.22
2017     1             0           0           6               0           0           5.816       0.00     4.22

SUB-TOTAL              0           0          21               0           0          18.527       0.00     4.22
REMAINDER              0           0         140               0           0         122.442       0.00     4.22
TOTAL                  0           0         161               0           0         140.969       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         161	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0         2,213            0         2,213           0          66         2,147
2015                0           0        26,111            0        26,111           0         784        25,327
2016                0           0        25,317            0        25,317           0         759        24,558
2017                0           0        24,545            0        24,545           0         737        23,808

SUB-TOT             0           0        78,186            0        78,186           0       2,346        75,840
REMAIN              0           0       516,707            0       516,707           0      15,501       501,206
TOTAL               0           0       594,893            0       594,893           0      17,847       577,046	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014            600           0      25,000           0        25,600        -23,453       -23,453        -7,129
2015          7,200           0           0           0         7,200         18,127        -5,326         5,225
2016          7,200           0           0           0         7,200         17,358        12,032         4,528
2017          7,200           0           0           0         7,200         16,608        28,640         3,923

SUBTOT       22,200           0      25,000           0        47,200         28,640                       6,547
REMAIN      252,000           0           0           0       252,000        249,206       277,846        24,174
TOTAL       274,200           0      25,000           0       299,200        277,846                      30,721

  LIFE OF EVALUATION IS 50.00 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 226
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 15-T1S-R75E PROVED
LAURA J. LAWSON #5 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         26.90                               5.00% -       257,508
FINAL   -   1.000000  0.875000                         26.90                              10.00% -       211,114
REMARKS -                                                                                 15.00% -       175,806
                                                                                          20.00% -       148,388
                                                                                          25.00% -       126,704	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1         3,323           0           0           2,907           0           0.000      26.90     0.00
2005     1         2,824           0           0           2,472           0           0.000      26.90     0.00
2006     1         2,401           0           0           2,100           0           0.000      26.90     0.00
2007     1         2,040           0           0           1,786           0           0.000      26.90     0.00
2008     1         1,735           0           0           1,517           0           0.000      26.90     0.00
2009     1         1,474           0           0           1,290           0           0.000      26.90     0.00
2010     1         1,253           0           0           1,097           0           0.000      26.90     0.00
2011     1         1,065           0           0             932           0           0.000      26.90     0.00
2012     1           906           0           0             792           0           0.000      26.90     0.00
2013     1           769           0           0             673           0           0.000      26.90     0.00
2014     1           654           0           0             573           0           0.000      26.90     0.00
2015     1           556           0           0             486           0           0.000      26.90     0.00
2016     1           473           0           0             414           0           0.000      26.90     0.00
2017     1           107           0           0              93           0           0.000      26.90     0.00

SUB-TOTAL         19,580           0           0          17,132           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             19,580           0           0          17,132           0           0.000      26.90     0.00

CUMULATIVE             0           0           0
ULTIMATE          19,580           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004           78,208           0             0            0        78,208       2,346           0        75,862
2005           66,476           0             0            0        66,476       1,995           0        64,481
2006           56,506           0             0            0        56,506       1,695           0        54,811
2007           48,029           0             0            0        48,029       1,441           0        46,588
2008           40,825           0             0            0        40,825       1,224           0        39,601
2009           34,701           0             0            0        34,701       1,041           0        33,660
2010           29,496           0             0            0        29,496         885           0        28,611
2011           25,072           0             0            0        25,072         752           0        24,320
2012           21,311           0             0            0        21,311         640           0        20,671
2013           18,114           0             0            0        18,114         543           0        17,571
2014           15,397           0             0            0        15,397         462           0        14,935
2015           13,088           0             0            0        13,088         393           0        12,695
2016           11,124           0             0            0        11,124         333           0        10,791
2017            2,510           0             0            0         2,510          76           0         2,434

SUB-TOT       460,857           0             0            0       460,857      13,826           0       447,031
REMAIN              0           0             0            0             0           0           0             0
TOTAL         460,857           0             0            0       460,857      13,826           0       447,031	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          9,600           0           0           0         9,600         66,262        66,262        57,179
2005          9,600           0           0           0         9,600         54,881       121,143        42,870
2006          9,600           0           0           0         9,600         45,211       166,354        31,971
2007          9,600           0           0           0         9,600         36,988       203,342        23,678
2008          9,600           0           0           0         9,600         30,001       233,343        17,387
2009          9,600           0           0           0         9,600         24,060       257,403        12,623
2010          9,600           0           0           0         9,600         19,011       276,414         9,030
2011          9,600           0           0           0         9,600         14,720       291,134         6,330
2012          9,600           0           0           0         9,600         11,071       302,205         4,311
2013          9,600           0           0           0         9,600          7,971       310,176         2,811
2014          9,600           0           0           0         9,600          5,335       315,511         1,704
2015          9,600           0           0           0         9,600          3,095       318,606           897
2016          9,600           0           0           0         9,600          1,191       319,797           314
2017          2,400           0           0           0         2,400             34       319,831             9

SUBTOT      127,200           0           0           0       127,200        319,831                     211,114
REMAIN            0           0           0           0             0              0       319,831             0
TOTAL       127,200           0           0           0       127,200        319,831                     211,114

  LIFE OF EVALUATION IS 14.25 YEARS.
  FINAL PRODUCTION RATE: 35 BBLS/MO	

TENGASCO, INC. TABLE 227
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.750000                             4.22        5.00% -       314,899
FINAL   -   1.000000                      0.750000                             4.22       10.00% -       239,917
REMARKS -                                                                                 15.00% -       194,482
                                                                                          20.00% -       164,310
                                                                                          25.00% -       142,840	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          21               0           0          15.530       0.00     4.22
2004     1             0           0          16               0           0          12.175       0.00     4.22
2005     1             0           0          14               0           0          10.355       0.00     4.22
2006     1             0           0          12               0           0           9.168       0.00     4.22
2007     1             0           0          11               0           0           8.315       0.00     4.22
2008     1             0           0          10               0           0           7.663       0.00     4.22
2009     1             0           0          10               0           0           7.143       0.00     4.22
2010     1             0           0           9               0           0           6.717       0.00     4.22
2011     1             0           0           8               0           0           6.359       0.00     4.22
2012     1             0           0           8               0           0           6.040       0.00     4.22
2013     1             0           0           8               0           0           5.738       0.00     4.22
2014     1             0           0           7               0           0           5.451       0.00     4.22
2015     1             0           0           7               0           0           5.179       0.00     4.22
2016     1             0           0           7               0           0           4.920       0.00     4.22
2017     1             0           0           6               0           0           4.674       0.00     4.22

SUB-TOTAL              0           0         154               0           0         115.427       0.00     4.22
REMAINDER              0           0          73               0           0          54.568       0.00     4.22
TOTAL                  0           0         227               0           0         169.995       0.00     4.22

CUMULATIVE             0           0         146
ULTIMATE               0           0         373	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        65,535            0        65,535           0       1,966        63,569
2004                0           0        51,377            0        51,377           0       1,541        49,836
2005                0           0        43,700            0        43,700           0       1,311        42,389
2006                0           0        38,690            0        38,690           0       1,161        37,529
2007                0           0        35,087            0        35,087           0       1,053        34,034
2008                0           0        32,336            0        32,336           0         970        31,366
2009                0           0        30,146            0        30,146           0         904        29,242
2010                0           0        28,348            0        28,348           0         851        27,497
2011                0           0        26,836            0        26,836           0         805        26,031
2012                0           0        25,489            0        25,489           0         764        24,725
2013                0           0        24,215            0        24,215           0         727        23,488
2014                0           0        23,004            0        23,004           0         690        22,314
2015                0           0        21,854            0        21,854           0         656        21,198
2016                0           0        20,762            0        20,762           0         622        20,140
2017                0           0        19,723            0        19,723           0         592        19,131

SUB-TOT             0           0       487,102            0       487,102           0      14,613       472,489
REMAIN              0           0       230,277            0       230,277           0       6,908       223,369
TOTAL               0           0       717,379            0       717,379           0      21,521       695,858	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         56,369        56,369        53,807
2004          7,200           0           0           0         7,200         42,636        99,005        36,802
2005          7,200           0           0           0         7,200         35,189       134,194        27,483
2006          7,200           0           0           0         7,200         30,329       164,523        21,436
2007          7,200           0           0           0         7,200         26,834       191,357        17,165
2008          7,200           0           0           0         7,200         24,166       215,523        13,991
2009          7,200           0           0           0         7,200         22,042       237,565        11,551
2010          7,200           0           0           0         7,200         20,297       257,862         9,628
2011          7,200           0           0           0         7,200         18,831       276,693         8,085
2012          7,200           0           0           0         7,200         17,525       294,218         6,811
2013          7,200           0           0           0         7,200         16,288       310,506         5,730
2014          7,200           0           0           0         7,200         15,114       325,620         4,814
2015          7,200           0           0           0         7,200         13,998       339,618         4,036
2016          7,200           0           0           0         7,200         12,940       352,558         3,377
2017          7,200           0           0           0         7,200         11,931       364,489         2,818

SUBTOT      108,000           0           0           0       108,000        364,489                     227,534
REMAIN      133,800           0           0           0       133,800         89,569       454,058        12,383
TOTAL       241,800           0           0           0       241,800        454,058                     239,917

  LIFE OF EVALUATION IS 33.58 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 228
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #2 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE        40,827           0           0
ULTIMATE          40,827           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 229
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #2 BP (TRTN-SR) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.750000                             4.22        5.00% -       233,106
FINAL   -   1.000000                      0.750000                             4.22       10.00% -       210,874
REMARKS -                                                                                 15.00% -       191,673
                                                                                          20.00% -       175,008
                                                                                          25.00% -       160,475	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          31               0           0          23.545       0.00     4.22
2004     1             0           0          24               0           0          17.804       0.00     4.22
2005     1             0           0          19               0           0          13.957       0.00     4.22
2006     1             0           0          15               0           0          11.249       0.00     4.22
2007     1             0           0          12               0           0           9.269       0.00     4.22
2008     1             0           0           2               0           0           1.423       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         103               0           0          77.247       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         103               0           0          77.247       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         103	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        99,358            0        99,358           0       2,981        96,377
2004                0           0        75,135            0        75,135           0       2,254        72,881
2005                0           0        58,899            0        58,899           0       1,767        57,132
2006                0           0        47,471            0        47,471           0       1,424        46,047
2007                0           0        39,114            0        39,114           0       1,173        37,941
2008                0           0         6,007            0         6,007           0         181         5,826
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       325,984            0       325,984           0       9,780       316,204
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       325,984            0       325,984           0       9,780       316,204	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0      20,000           0        27,200         69,177        69,177        65,190
2004          7,200           0           0           0         7,200         65,681       134,858        56,724
2005          7,200           0           0           0         7,200         49,932       184,790        39,027
2006          7,200           0           0           0         7,200         38,847       223,637        27,481
2007          7,200           0           0           0         7,200         30,741       254,378        19,683
2008          1,230           0           0           0         1,230          4,596       258,974         2,769
2009              0           0           0           0             0              0       258,974             0
2010              0           0           0           0             0              0       258,974             0
2011              0           0           0           0             0              0       258,974             0
2012              0           0           0           0             0              0       258,974             0
2013              0           0           0           0             0              0       258,974             0
2014              0           0           0           0             0              0       258,974             0
2015              0           0           0           0             0              0       258,974             0
2016              0           0           0           0             0              0       258,974             0
2017              0           0           0           0             0              0       258,974             0

SUBTOT       37,230           0      20,000           0        57,230        258,974                     210,874
REMAIN            0           0           0           0             0              0       258,974             0
TOTAL        37,230           0      20,000           0        57,230        258,974                     210,874

  LIFE OF EVALUATION IS 5.17 YEARS.
  FINAL PRODUCTION RATE: 0.9 MMCF/MO	

TENGASCO, INC. TABLE 230
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -        74,245
FINAL   -   1.000000                      0.656250                             4.22       10.00% -        60,885
REMARKS -                                                                                 15.00% -        51,010
                                                                                          20.00% -        43,530
                                                                                          25.00% -        37,735	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           7               0           0           4.316       0.00     4.22
2004     1             0           0           7               0           0           4.653       0.00     4.22
2005     1             0           0           7               0           0           4.780       0.00     4.22
2006     1             0           0           7               0           0           4.409       0.00     4.22
2007     1             0           0           6               0           0           4.068       0.00     4.22
2008     1             0           0           6               0           0           3.753       0.00     4.22
2009     1             0           0           5               0           0           3.462       0.00     4.22
2010     1             0           0           5               0           0           3.193       0.00     4.22
2011     1             0           0           4               0           0           2.946       0.00     4.22
2012     1             0           0           4               0           0           2.718       0.00     4.22
2013     1             0           0           4               0           0           2.507       0.00     4.22
2014     1             0           0           4               0           0           2.313       0.00     4.22
2015     1             0           0           3               0           0           2.134       0.00     4.22
2016     1             0           0           3               0           0           1.968       0.00     4.22
2017     1             0           0           2               0           0           1.670       0.00     4.22

SUB-TOTAL              0           0          74               0           0          48.890       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          74               0           0          48.890       0.00     4.22

CUMULATIVE             0           0          12
ULTIMATE               0           0          86	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        18,214            0        18,214           0         546        17,668
2004                0           0        19,637            0        19,637           0         590        19,047
2005                0           0        20,171            0        20,171           0         605        19,566
2006                0           0        18,609            0        18,609           0         558        18,051
2007                0           0        17,166            0        17,166           0         515        16,651
2008                0           0        15,835            0        15,835           0         475        15,360
2009                0           0        14,609            0        14,609           0         438        14,171
2010                0           0        13,477            0        13,477           0         405        13,072
2011                0           0        12,432            0        12,432           0         372        12,060
2012                0           0        11,469            0        11,469           0         345        11,124
2013                0           0        10,580            0        10,580           0         317        10,263
2014                0           0         9,760            0         9,760           0         293         9,467
2015                0           0         9,004            0         9,004           0         270         8,734
2016                0           0         8,306            0         8,306           0         249         8,057
2017                0           0         7,047            0         7,047           0         211         6,836

SUB-TOT             0           0       206,316            0       206,316           0       6,189       200,127
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       206,316            0       206,316           0       6,189       200,127	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         10,468        10,468         9,964
2004          7,128           0           0           0         7,128         11,919        22,387        10,237
2005          7,200           0           0           0         7,200         12,366        34,753         9,654
2006          7,200           0           0           0         7,200         10,851        45,604         7,670
2007          7,200           0           0           0         7,200          9,451        55,055         6,047
2008          7,200           0           0           0         7,200          8,160        63,215         4,726
2009          7,200           0           0           0         7,200          6,971        70,186         3,656
2010          7,200           0           0           0         7,200          5,872        76,058         2,787
2011          7,200           0           0           0         7,200          4,860        80,918         2,089
2012          7,200           0           0           0         7,200          3,924        84,842         1,527
2013          7,200           0           0           0         7,200          3,063        87,905         1,080
2014          7,200           0           0           0         7,200          2,267        90,172           723
2015          7,200           0           0           0         7,200          1,534        91,706           444
2016          7,200           0           0           0         7,200            857        92,563           225
2017          6,600           0           0           0         6,600            236        92,799            56

SUBTOT      107,328           0           0           0       107,328         92,799                      60,885
REMAIN            0           0           0           0             0              0        92,799             0
TOTAL       107,328           0           0           0       107,328         92,799                      60,885

  LIFE OF EVALUATION IS 14.92 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 231
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -       311,041
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       118,691
REMARKS -                                                                                 15.00% -        47,793
                                                                                          20.00% -        19,966
                                                                                          25.00% -         8,561	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           9               0           0           6.121       0.00     4.22

SUB-TOTAL              0           0           9               0           0           6.121       0.00     4.22
REMAINDER              0           0         393               0           0         257.692       0.00     4.22
TOTAL                  0           0         402               0           0         263.813       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         402	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0        25,829            0        25,829           0         775        25,054

SUB-TOT             0           0        25,829            0        25,829           0         775        25,054
REMAIN              0           0     1,087,460            0     1,087,460           0      32,624     1,054,836
TOTAL               0           0     1,113,289            0     1,113,289           0      33,399     1,079,890	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017            600           0      20,000           0        20,600          4,454         4,454         1,004

SUBTOT          600           0      20,000           0        20,600          4,454                       1,004
REMAIN      177,122           0           0           0       177,122        877,714       882,168       117,687
TOTAL       177,722           0      20,000           0       197,722        882,168                     118,691

  LIFE OF EVALUATION IS 39.60 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 232
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 BP2 (TRENTON) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -         3,634
FINAL   -   1.000000                      0.656250                             4.22       10.00% -           477
REMARKS -                                                                                 15.00% -            63
                                                                                          20.00% -             8
                                                                                          25.00% -             1	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0          22               0           0          14.438       0.00     4.22
TOTAL                  0           0          22               0           0          14.438       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          22	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0        60,930            0        60,930           0       1,828        59,102
TOTAL               0           0        60,930            0        60,930           0       1,828        59,102	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       11,218           0      20,000           0        31,218         27,884        27,884           477
TOTAL        11,218           0      20,000           0        31,218         27,884                         477

  LIFE OF EVALUATION IS 41.22 YEARS.
  FINAL PRODUCTION RATE: 0.9 MMCF/MO	

TENGASCO, INC. TABLE 233
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,100,244
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       815,813
REMARKS -                                                                                 15.00% -       656,182
                                                                                          20.00% -       554,121
                                                                                          25.00% -       482,688	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          57               0           0          49.802       0.00     4.22
2004     1             0           0          42               0           0          37.215       0.00     4.22
2005     1             0           0          35               0           0          30.443       0.00     4.22
2006     1             0           0          30               0           0          26.103       0.00     4.22
2007     1             0           0          26               0           0          23.042       0.00     4.22
2008     1             0           0          24               0           0          20.746       0.00     4.22
2009     1             0           0          22               0           0          18.948       0.00     4.22
2010     1             0           0          20               0           0          17.496       0.00     4.22
2011     1             0           0          18               0           0          16.293       0.00     4.22
2012     1             0           0          18               0           0          15.278       0.00     4.22
2013     1             0           0          16               0           0          14.408       0.00     4.22
2014     1             0           0          16               0           0          13.652       0.00     4.22
2015     1             0           0          15               0           0          12.988       0.00     4.22
2016     1             0           0          14               0           0          12.399       0.00     4.22
2017     1             0           0          13               0           0          11.873       0.00     4.22

SUB-TOTAL              0           0         366               0           0         320.686       0.00     4.22
REMAINDER              0           0         179               0           0         156.240       0.00     4.22
TOTAL                  0           0         545               0           0         476.926       0.00     4.22

CUMULATIVE             0           0         303
ULTIMATE               0           0         848	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       210,165            0       210,165           0       6,305       203,860
2004                0           0       157,047            0       157,047           0       4,711       152,336
2005                0           0       128,468            0       128,468           0       3,854       124,614
2006                0           0       110,154            0       110,154           0       3,305       106,849
2007                0           0        97,237            0        97,237           0       2,917        94,320
2008                0           0        87,547            0        87,547           0       2,627        84,920
2009                0           0        79,962            0        79,962           0       2,398        77,564
2010                0           0        73,833            0        73,833           0       2,215        71,618
2011                0           0        68,758            0        68,758           0       2,063        66,695
2012                0           0        64,475            0        64,475           0       1,934        62,541
2013                0           0        60,802            0        60,802           0       1,824        58,978
2014                0           0        57,612            0        57,612           0       1,729        55,883
2015                0           0        54,809            0        54,809           0       1,644        53,165
2016                0           0        52,325            0        52,325           0       1,570        50,755
2017                0           0        50,104            0        50,104           0       1,503        48,601

SUB-TOT             0           0     1,353,298            0     1,353,298           0      40,599     1,312,699
REMAIN              0           0       659,331            0       659,331           0      19,780       639,551
TOTAL               0           0     2,012,629            0     2,012,629           0      60,379     1,952,250	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200        196,660       196,660       187,761
2004          7,200           0           0           0         7,200        145,136       341,796       125,301
2005          7,200           0           0           0         7,200        117,414       459,210        91,712
2006          7,200           0           0           0         7,200         99,649       558,859        70,437
2007          7,200           0           0           0         7,200         87,120       645,979        55,733
2008          7,200           0           0           0         7,200         77,720       723,699        45,001
2009          7,200           0           0           0         7,200         70,364       794,063        36,876
2010          7,200           0           0           0         7,200         64,418       858,481        30,557
2011          7,200           0           0           0         7,200         59,495       917,976        25,545
2012          7,200           0           0           0         7,200         55,341       973,317        21,508
2013          7,200           0           0           0         7,200         51,778     1,025,095        18,215
2014          7,200           0           0           0         7,200         48,683     1,073,778        15,503
2015          7,200           0           0           0         7,200         45,965     1,119,743        13,249
2016          7,200           0           0           0         7,200         43,555     1,163,298        11,364
2017          7,200           0           0           0         7,200         41,401     1,204,699         9,778

SUBTOT      108,000           0           0           0       108,000      1,204,699                     758,540
REMAIN      140,252           0           0           0       140,252        499,299     1,703,998        57,273
TOTAL       248,252           0           0           0       248,252      1,703,998                     815,813

  LIFE OF EVALUATION IS 34.48 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 234
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       332,366
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        49,493
REMARKS -                                                                                 15.00% -         7,669
                                                                                          20.00% -         1,227
                                                                                          25.00% -           202	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         691               0           0         604.340       0.00     4.22
TOTAL                  0           0         691               0           0         604.340       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         691	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0     2,550,314            0     2,550,314           0      76,509     2,473,805
TOTAL               0           0     2,550,314            0     2,550,314           0      76,509     2,473,805	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN      111,600           0      20,000           0       131,600      2,342,205     2,342,205        49,493
TOTAL       111,600           0      20,000           0       131,600      2,342,205                      49,493

  LIFE OF EVALUATION IS 50.00 YEARS.
  FINAL PRODUCTION RATE: 1.7 MMCF/MO	

TENGASCO, INC. TABLE 235
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 BP2 (TRENTON) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD.                                15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 49.92 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 236
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #5 (STONES RIVER) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         26.90                               5.00% -       647,082
FINAL   -   1.000000  0.875000                         26.90                              10.00% -       566,283
REMARKS -                                                                                 15.00% -       502,269
                                                                                          20.00% -       450,628
                                                                                          25.00% -       408,283	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         8,381           0           0           7,334           0           0.000      26.90     0.00
2004     1         6,638           0           0           5,808           0           0.000      26.90     0.00
2005     1         5,258           0           0           4,601           0           0.000      26.90     0.00
2006     1         4,165           0           0           3,644           0           0.000      26.90     0.00
2007     1         3,299           0           0           2,886           0           0.000      26.90     0.00
2008     1         2,612           0           0           2,286           0           0.000      26.90     0.00
2009     1         2,070           0           0           1,811           0           0.000      26.90     0.00
2010     1         1,639           0           0           1,434           0           0.000      26.90     0.00
2011     1         1,298           0           0           1,136           0           0.000      26.90     0.00
2012     1         1,028           0           0             900           0           0.000      26.90     0.00
2013     1           815           0           0             712           0           0.000      26.90     0.00
2014     1           645           0           0             565           0           0.000      26.90     0.00
2015     1           511           0           0             447           0           0.000      26.90     0.00
2016     1           145           0           0             127           0           0.000      26.90     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         38,504           0           0          33,691           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             38,504           0           0          33,691           0           0.000      26.90     0.00

CUMULATIVE        59,969           0           0
ULTIMATE          98,473           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          197,271           0             0            0       197,271       5,918           0       191,353
2004          156,250           0             0            0       156,250       4,688           0       151,562
2005          123,759           0             0            0       123,759       3,712           0       120,047
2006           98,023           0             0            0        98,023       2,941           0        95,082
2007           77,640           0             0            0        77,640       2,329           0        75,311
2008           61,495           0             0            0        61,495       1,845           0        59,650
2009           48,708           0             0            0        48,708       1,461           0        47,247
2010           38,579           0             0            0        38,579       1,158           0        37,421
2011           30,557           0             0            0        30,557         916           0        29,641
2012           24,203           0             0            0        24,203         727           0        23,476
2013           19,169           0             0            0        19,169         575           0        18,594
2014           15,184           0             0            0        15,184         455           0        14,729
2015           12,026           0             0            0        12,026         361           0        11,665
2016            3,425           0             0            0         3,425         103           0         3,322
2017                0           0             0            0             0           0           0             0

SUB-TOT       906,289           0             0            0       906,289      27,189           0       879,100
REMAIN              0           0             0            0             0           0           0             0
TOTAL         906,289           0             0            0       906,289      27,189           0       879,100	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          9,600           0           0           0         9,600        181,753       181,753       173,345
2004          9,600           0           0           0         9,600        141,962       323,715       122,565
2005          9,600           0           0           0         9,600        110,447       434,162        86,320
2006          9,600           0           0           0         9,600         85,482       519,644        60,480
2007          9,600           0           0           0         9,600         65,711       585,355        42,087
2008          9,600           0           0           0         9,600         50,050       635,405        29,020
2009          9,600           0           0           0         9,600         37,647       673,052        19,762
2010          9,600           0           0           0         9,600         27,821       700,873        13,222
2011          9,600           0           0           0         9,600         20,041       720,914         8,624
2012          9,600           0           0           0         9,600         13,876       734,790         5,407
2013          9,600           0           0           0         9,600          8,994       743,784         3,175
2014          9,600           0           0           0         9,600          5,129       748,913         1,642
2015          9,600           0           0           0         9,600          2,065       750,978           601
2016          3,200           0           0           0         3,200            122       751,100            33
2017              0           0           0           0             0              0       751,100             0

SUBTOT      128,000           0           0           0       128,000        751,100                     566,283
REMAIN            0           0           0           0             0              0       751,100             0
TOTAL       128,000           0           0           0       128,000        751,100                     566,283

  LIFE OF EVALUATION IS 13.33 YEARS.
  FINAL PRODUCTION RATE: 35 BBLS/MO	

TENGASCO, INC. TABLE 237
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75 PROVED
PAUL REED #6 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        83,961
FINAL   -   1.000000                      0.875000                             4.22       10.00% -        72,123
REMARKS -                                                                                 15.00% -        63,201
                                                                                          20.00% -        56,281
                                                                                          25.00% -        50,779	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           9               0           0           7.563       0.00     4.22
2004     1             0           0           6               0           0           5.801       0.00     4.22
2005     1             0           0           6               0           0           4.805       0.00     4.22
2006     1             0           0           5               0           0           4.150       0.00     4.22
2007     1             0           0           4               0           0           3.682       0.00     4.22
2008     1             0           0           4               0           0           3.326       0.00     4.22
2009     1             0           0           3               0           0           3.046       0.00     4.22
2010     1             0           0           3               0           0           2.818       0.00     4.22
2011     1             0           0           3               0           0           2.629       0.00     4.22
2012     1             0           0           3               0           0           2.468       0.00     4.22
2013     1             0           0           3               0           0           2.330       0.00     4.22
2014     1             0           0           2               0           0           2.210       0.00     4.22
2015     1             0           0           3               0           0           2.099       0.00     4.22
2016     1             0           0           2               0           0           1.994       0.00     4.22
2017     1             0           0           2               0           0           1.894       0.00     4.22

SUB-TOTAL              0           0          58               0           0          50.815       0.00     4.22
REMAINDER              0           0           2               0           0           1.653       0.00     4.22
TOTAL                  0           0          60               0           0          52.468       0.00     4.22

CUMULATIVE             0           0          38
ULTIMATE               0           0          98	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        31,914            0        31,914           0         957        30,957
2004                0           0        24,479            0        24,479           0         735        23,744
2005                0           0        20,276            0        20,276           0         608        19,668
2006                0           0        17,515            0        17,515           0         526        16,989
2007                0           0        15,536            0        15,536           0         466        15,070
2008                0           0        14,037            0        14,037           0         421        13,616
2009                0           0        12,854            0        12,854           0         385        12,469
2010                0           0        11,893            0        11,893           0         357        11,536
2011                0           0        11,094            0        11,094           0         333        10,761
2012                0           0        10,415            0        10,415           0         312        10,103
2013                0           0         9,834            0         9,834           0         295         9,539
2014                0           0         9,325            0         9,325           0         280         9,045
2015                0           0         8,858            0         8,858           0         266         8,592
2016                0           0         8,415            0         8,415           0         252         8,163
2017                0           0         7,994            0         7,994           0         240         7,754

SUB-TOT             0           0       214,439            0       214,439           0       6,433       208,006
REMAIN              0           0         6,977            0         6,977           0         209         6,768
TOTAL               0           0       221,416            0       221,416           0       6,642       214,774	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         23,757        23,757        22,691
2004          7,200           0           0           0         7,200         16,544        40,301        14,290
2005          7,200           0           0           0         7,200         12,468        52,769         9,745
2006          7,200           0           0           0         7,200          9,789        62,558         6,924
2007          7,200           0           0           0         7,200          7,870        70,428         5,038
2008          7,200           0           0           0         7,200          6,416        76,844         3,718
2009          7,200           0           0           0         7,200          5,269        82,113         2,764
2010          7,200           0           0           0         7,200          4,336        86,449         2,059
2011          7,200           0           0           0         7,200          3,561        90,010         1,530
2012          7,200           0           0           0         7,200          2,903        92,913         1,130
2013          7,200           0           0           0         7,200          2,339        95,252           823
2014          7,200           0           0           0         7,200          1,845        97,097           589
2015          7,200           0           0           0         7,200          1,392        98,489           402
2016          7,200           0           0           0         7,200            963        99,452           252
2017          7,200           0           0           0         7,200            554       100,006           132

SUBTOT      108,000           0           0           0       108,000        100,006                      72,087
REMAIN        6,600           0           0           0         6,600            168       100,174            36
TOTAL       114,600           0           0           0       114,600        100,174                      72,123

  LIFE OF EVALUATION IS 15.92 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 238
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #6 BP (STONES RIVER) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         26.90                               5.00% -        92,259
FINAL   -   1.000000  0.875000                         26.90                              10.00% -        38,409
REMARKS -                                                                                 15.00% -        16,086
                                                                                          20.00% -         6,777
                                                                                          25.00% -         2,871	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER         11,697           0           0          10,235           0           0.000      26.90     0.00
TOTAL             11,697           0           0          10,235           0           0.000      26.90     0.00

CUMULATIVE             0           0           0
ULTIMATE          11,697           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN        275,328           0             0            0       275,328       8,260           0       267,068
TOTAL         275,328           0             0            0       275,328       8,260           0       267,068	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       34,123           0      10,000           0        44,123        222,945       222,945        38,409
TOTAL        34,123           0      10,000           0        44,123        222,945                      38,409

  LIFE OF EVALUATION IS 19.47 YEARS.
  FINAL PRODUCTION RATE: 250 BBLS/MO	

TENGASCO, INC. TABLE 239
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       606,652
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       436,842
REMARKS -                                                                                 15.00% -       341,799
                                                                                          20.00% -       281,649
                                                                                          25.00% -       240,207	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          25               0           0          21.830       0.00     4.22
2004     1             0           0          21               0           0          18.815       0.00     4.22
2005     1             0           0          20               0           0          16.790       0.00     4.22
2006     1             0           0          17               0           0          15.309       0.00     4.22
2007     1             0           0          16               0           0          14.164       0.00     4.22
2008     1             0           0          15               0           0          13.245       0.00     4.22
2009     1             0           0          15               0           0          12.485       0.00     4.22
2010     1             0           0          13               0           0          11.839       0.00     4.22
2011     1             0           0          13               0           0          11.247       0.00     4.22
2012     1             0           0          12               0           0          10.685       0.00     4.22
2013     1             0           0          12               0           0          10.151       0.00     4.22
2014     1             0           0          11               0           0           9.643       0.00     4.22
2015     1             0           0          10               0           0           9.161       0.00     4.22
2016     1             0           0          10               0           0           8.703       0.00     4.22
2017     1             0           0          10               0           0           8.268       0.00     4.22

SUB-TOTAL              0           0         220               0           0         192.335       0.00     4.22
REMAINDER              0           0         140               0           0         122.789       0.00     4.22
TOTAL                  0           0         360               0           0         315.124       0.00     4.22

CUMULATIVE             0           0         128
ULTIMATE               0           0         488	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        92,123            0        92,123           0       2,764        89,359
2004                0           0        79,397            0        79,397           0       2,382        77,015
2005                0           0        70,853            0        70,853           0       2,125        68,728
2006                0           0        64,602            0        64,602           0       1,938        62,664
2007                0           0        59,772            0        59,772           0       1,793        57,979
2008                0           0        55,892            0        55,892           0       1,677        54,215
2009                0           0        52,686            0        52,686           0       1,581        51,105
2010                0           0        49,963            0        49,963           0       1,499        48,464
2011                0           0        47,463            0        47,463           0       1,424        46,039
2012                0           0        45,091            0        45,091           0       1,352        43,739
2013                0           0        42,835            0        42,835           0       1,285        41,550
2014                0           0        40,694            0        40,694           0       1,221        39,473
2015                0           0        38,660            0        38,660           0       1,160        37,500
2016                0           0        36,726            0        36,726           0       1,102        35,624
2017                0           0        34,890            0        34,890           0       1,046        33,844

SUB-TOT             0           0       811,647            0       811,647           0      24,349       787,298
REMAIN              0           0       518,171            0       518,171           0      15,546       502,625
TOTAL               0           0     1,329,818            0     1,329,818           0      39,895     1,289,923	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         82,159        82,159        78,321
2004          7,200           0           0           0         7,200         69,815       151,974        60,223
2005          7,200           0           0           0         7,200         61,528       213,502        48,032
2006          7,200           0           0           0         7,200         55,464       268,966        39,188
2007          7,200           0           0           0         7,200         50,779       319,745        32,474
2008          7,200           0           0           0         7,200         47,015       366,760        27,214
2009          7,200           0           0           0         7,200         43,905       410,665        23,004
2010          7,200           0           0           0         7,200         41,264       451,929        19,570
2011          7,200           0           0           0         7,200         38,839       490,768        16,675
2012          7,200           0           0           0         7,200         36,539       527,307        14,199
2013          7,200           0           0           0         7,200         34,350       561,657        12,084
2014          7,200           0           0           0         7,200         32,273       593,930        10,277
2015          7,200           0           0           0         7,200         30,300       624,230         8,735
2016          7,200           0           0           0         7,200         28,424       652,654         7,417
2017          7,200           0           0           0         7,200         26,644       679,298         6,293

SUBTOT      108,000           0           0           0       108,000        679,298                     403,706
REMAIN      213,600           0           0           0       213,600        289,025       968,323        33,136
TOTAL       321,600           0           0           0       321,600        968,323                     436,842

  LIFE OF EVALUATION IS 44.67 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 240
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -        45,976
FINAL   -   1.000000                      0.875000                             4.22       10.00% -         4,542
REMARKS -                                                                                 15.00% -           455
                                                                                          20.00% -            46
                                                                                          25.00% -             5	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         148               0           0         129.702       0.00     4.22
TOTAL                  0           0         148               0           0         129.702       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         148	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0       547,342            0       547,342           0      16,420       530,922
TOTAL               0           0       547,342            0       547,342           0      16,420       530,922	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       38,400           0      20,000           0        58,400        472,522       472,522         4,542
TOTAL        38,400           0      20,000           0        58,400        472,522                       4,542

  LIFE OF EVALUATION IS 50.00 YEARS.
  FINAL PRODUCTION RATE: 1.4 MMCF/MO	

TENGASCO, INC. TABLE 241
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD.                                15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 49.92 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 242
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #8 (TRENTON-STONES RIVER) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.875000                         26.90                               5.00% -       689,965
FINAL   -   1.000000  0.875000                         26.90                              10.00% -       642,078
REMARKS -                                                                                 15.00% -       599,805
                                                                                          20.00% -       562,304
                                                                                          25.00% -       528,877	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1        15,232           0           0          13,328           0           0.000      26.90     0.00
2004     1         8,921           0           0           7,805           0           0.000      26.90     0.00
2005     1         5,224           0           0           4,572           0           0.000      26.90     0.00
2006     1         3,060           0           0           2,677           0           0.000      26.90     0.00
2007     1         1,792           0           0           1,568           0           0.000      26.90     0.00
2008     1           739           0           0             647           0           0.000      26.90     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         34,968           0           0          30,597           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             34,968           0           0          30,597           0           0.000      26.90     0.00

CUMULATIVE         6,919           0           0
ULTIMATE          41,887           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003          358,519           0             0            0       358,519      10,756           0       347,763
2004          209,972           0             0            0       209,972       6,299           0       203,673
2005          122,973           0             0            0       122,973       3,689           0       119,284
2006           72,020           0             0            0        72,020       2,161           0        69,859
2007           42,180           0             0            0        42,180       1,265           0        40,915
2008           17,387           0             0            0        17,387         522           0        16,865
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       823,051           0             0            0       823,051      24,692           0       798,359
REMAIN              0           0             0            0             0           0           0             0
TOTAL         823,051           0             0            0       823,051      24,692           0       798,359	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,000           0      20,000           0        26,000        321,763       321,763       306,832
2004          6,000           0           0           0         6,000        197,673       519,436       171,085
2005          6,000           0           0           0         6,000        113,284       632,720        88,762
2006          6,000           0           0           0         6,000         63,859       696,579        45,301
2007          6,000           0           0           0         6,000         34,915       731,494        22,428
2008          3,867           0           0           0         3,867         12,998       744,492         7,670
2009              0           0           0           0             0              0       744,492             0
2010              0           0           0           0             0              0       744,492             0
2011              0           0           0           0             0              0       744,492             0
2012              0           0           0           0             0              0       744,492             0
2013              0           0           0           0             0              0       744,492             0
2014              0           0           0           0             0              0       744,492             0
2015              0           0           0           0             0              0       744,492             0
2016              0           0           0           0             0              0       744,492             0
2017              0           0           0           0             0              0       744,492             0

SUBTOT       33,867           0      20,000           0        53,867        744,492                     642,078
REMAIN            0           0           0           0             0              0       744,492             0
TOTAL        33,867           0      20,000           0        53,867        744,492                     642,078

  LIFE OF EVALUATION IS 5.64 YEARS.
  FINAL PRODUCTION RATE: 81 BBLS/MO	

TENGASCO, INC. TABLE 243
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #8 BP (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       649,498
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       365,999
REMARKS -                                                                                 15.00% -       220,582
                                                                                          20.00% -       139,373
                                                                                          25.00% -        91,013	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0          17               0           0          14.909       0.00     4.22
2009     1             0           0          41               0           0          36.004       0.00     4.22
2010     1             0           0          32               0           0          28.273       0.00     4.22
2011     1             0           0          28               0           0          23.701       0.00     4.22
2012     1             0           0          23               0           0          20.623       0.00     4.22
2013     1             0           0          21               0           0          18.384       0.00     4.22
2014     1             0           0          19               0           0          16.669       0.00     4.22
2015     1             0           0          18               0           0          15.305       0.00     4.22
2016     1             0           0          16               0           0          14.190       0.00     4.22
2017     1             0           0          15               0           0          13.258       0.00     4.22

SUB-TOTAL              0           0         230               0           0         201.316       0.00     4.22
REMAINDER              0           0         172               0           0         150.495       0.00     4.22
TOTAL                  0           0         402               0           0         351.811       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         402	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0        62,914            0        62,914           0       1,887        61,027
2009                0           0       151,939            0       151,939           0       4,559       147,380
2010                0           0       119,312            0       119,312           0       3,579       115,733
2011                0           0       100,020            0       100,020           0       3,001        97,019
2012                0           0        87,031            0        87,031           0       2,610        84,421
2013                0           0        77,582            0        77,582           0       2,328        75,254
2014                0           0        70,342            0        70,342           0       2,110        68,232
2015                0           0        64,588            0        64,588           0       1,938        62,650
2016                0           0        59,883            0        59,883           0       1,796        58,087
2017                0           0        55,950            0        55,950           0       1,679        54,271

SUB-TOT             0           0       849,561            0       849,561           0      25,487       824,074
REMAIN              0           0       635,089            0       635,089           0      19,052       616,037
TOTAL               0           0     1,484,650            0     1,484,650           0      44,539     1,440,111	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008          2,400           0      20,000           0        22,400         38,627        38,627        21,480
2009          7,200           0           0           0         7,200        140,180       178,807        73,592
2010          7,200           0           0           0         7,200        108,533       287,340        51,539
2011          7,200           0           0           0         7,200         89,819       377,159        38,594
2012          7,200           0           0           0         7,200         77,221       454,380        30,029
2013          7,200           0           0           0         7,200         68,054       522,434        23,951
2014          7,200           0           0           0         7,200         61,032       583,466        19,441
2015          7,200           0           0           0         7,200         55,450       638,916        15,988
2016          7,200           0           0           0         7,200         50,887       689,803        13,280
2017          7,200           0           0           0         7,200         47,071       736,874        11,120

SUBTOT       67,200           0      20,000           0        87,200        736,874                     299,014
REMAIN       90,541           0           0           0        90,541        525,496     1,262,370        66,985
TOTAL       157,741           0      20,000           0       177,741      1,262,370                     365,999

  LIFE OF EVALUATION IS 27.58 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 244
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #9 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,272,478
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       891,240
REMARKS -                                                                                 15.00% -       682,526
                                                                                          20.00% -       550,125
                                                                                          25.00% -       457,477	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          80               0           0          70.363       0.00     4.22
2004     1             0           0          57               0           0          49.636       0.00     4.22
2005     1             0           0          45               0           0          39.603       0.00     4.22
2006     1             0           0          39               0           0          33.484       0.00     4.22
2007     1             0           0          33               0           0          29.292       0.00     4.22
2008     1             0           0          30               0           0          26.207       0.00     4.22
2009     1             0           0          27               0           0          23.825       0.00     4.22
2010     1             0           0          25               0           0          21.920       0.00     4.22
2011     1             0           0          24               0           0          20.356       0.00     4.22
2012     1             0           0          21               0           0          19.044       0.00     4.22
2013     1             0           0          21               0           0          17.925       0.00     4.22
2014     1             0           0          19               0           0          16.957       0.00     4.22
2015     1             0           0          19               0           0          16.099       0.00     4.22
2016     1             0           0          17               0           0          15.294       0.00     4.22
2017     1             0           0          17               0           0          14.529       0.00     4.22

SUB-TOTAL              0           0         474               0           0         414.534       0.00     4.22
REMAINDER              0           0         242               0           0         211.839       0.00     4.22
TOTAL                  0           0         716               0           0         626.373       0.00     4.22

CUMULATIVE             0           0          43
ULTIMATE               0           0         759	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       296,933            0       296,933           0       8,908       288,025
2004                0           0       209,462            0       209,462           0       6,284       203,178
2005                0           0       167,127            0       167,127           0       5,014       162,113
2006                0           0       141,304            0       141,304           0       4,239       137,065
2007                0           0       123,611            0       123,611           0       3,708       119,903
2008                0           0       110,594            0       110,594           0       3,318       107,276
2009                0           0       100,542            0       100,542           0       3,016        97,526
2010                0           0        92,504            0        92,504           0       2,775        89,729
2011                0           0        85,902            0        85,902           0       2,577        83,325
2012                0           0        80,365            0        80,365           0       2,411        77,954
2013                0           0        75,642            0        75,642           0       2,270        73,372
2014                0           0        71,558            0        71,558           0       2,146        69,412
2015                0           0        67,937            0        67,937           0       2,038        65,899
2016                0           0        64,541            0        64,541           0       1,937        62,604
2017                0           0        61,313            0        61,313           0       1,839        59,474

SUB-TOT             0           0     1,749,335            0     1,749,335           0      52,480     1,696,855
REMAIN              0           0       893,959            0       893,959           0      26,819       867,140
TOTAL               0           0     2,643,294            0     2,643,294           0      79,299     2,563,995	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0     200,000           0       207,200         80,825        80,825        69,138
2004          7,200           0           0           0         7,200        195,978       276,803       169,239
2005          7,200           0           0           0         7,200        154,913       431,716       121,019
2006          7,200           0           0           0         7,200        129,865       561,581        91,802
2007          7,200           0           0           0         7,200        112,703       674,284        72,103
2008          7,200           0           0           0         7,200        100,076       774,360        57,947
2009          7,200           0           0           0         7,200         90,326       864,686        47,338
2010          7,200           0           0           0         7,200         82,529       947,215        39,149
2011          7,200           0           0           0         7,200         76,125     1,023,340        32,686
2012          7,200           0           0           0         7,200         70,754     1,094,094        27,498
2013          7,200           0           0           0         7,200         66,172     1,160,266        23,279
2014          7,200           0           0           0         7,200         62,212     1,222,478        19,810
2015          7,200           0           0           0         7,200         58,699     1,281,177        16,920
2016          7,200           0           0           0         7,200         55,404     1,336,581        14,457
2017          7,200           0           0           0         7,200         52,274     1,388,855        12,346

SUBTOT      108,000           0     200,000           0       308,000      1,388,855                     814,731
REMAIN      133,158           0           0           0       133,158        733,982     2,122,837        76,509
TOTAL       241,158           0     200,000           0       441,158      2,122,837                     891,240

  LIFE OF EVALUATION IS 33.49 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 245
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
PURKEY #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -           543
FINAL   -   0.500000                      0.437500                             4.22       10.00% -           526
REMARKS -                                                                                 15.00% -           509
                                                                                          20.00% -           493
                                                                                          25.00% -           478	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           2               0           0           0.981       0.00     4.22
2004     1             0           0           2               0           0           0.915       0.00     4.22
2005     1             0           0           1               0           0           0.073       0.00     4.22
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           5               0           0           1.969       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           5               0           0           1.969       0.00     4.22

CUMULATIVE             0           0          13
ULTIMATE               0           0          18	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         4,139            0         4,139           0         124         4,015
2004                0           0         3,862            0         3,862           0         116         3,746
2005                0           0           310            0           310           0           9           301
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0         8,311            0         8,311           0         249         8,062
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0         8,311            0         8,311           0         249         8,062	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0           0           0         3,600            415           415           397
2004          3,600           0           0           0         3,600            146           561           128
2005            300           0           0           0           300              1           562             1
2006              0           0           0           0             0              0           562             0
2007              0           0           0           0             0              0           562             0
2008              0           0           0           0             0              0           562             0
2009              0           0           0           0             0              0           562             0
2010              0           0           0           0             0              0           562             0
2011              0           0           0           0             0              0           562             0
2012              0           0           0           0             0              0           562             0
2013              0           0           0           0             0              0           562             0
2014              0           0           0           0             0              0           562             0
2015              0           0           0           0             0              0           562             0
2016              0           0           0           0             0              0           562             0
2017              0           0           0           0             0              0           562             0

SUBTOT        7,500           0           0           0         7,500            562                         526
REMAIN            0           0           0           0             0              0           562             0
TOTAL         7,500           0           0           0         7,500            562                         526

  LIFE OF EVALUATION IS 2.08 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 246
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #2 (TRENTON) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           2
ULTIMATE               0           0           2	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 247
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       114,850
FINAL   -   0.500000                      0.437500                             4.22       10.00% -        88,574
REMARKS -                                                                                 15.00% -        72,386
                                                                                          20.00% -        61,479
                                                                                          25.00% -        53,623	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          14               0           0           5.981       0.00     4.22
2004     1             0           0          11               0           0           4.909       0.00     4.22
2005     1             0           0          10               0           0           4.217       0.00     4.22
2006     1             0           0           8               0           0           3.727       0.00     4.22
2007     1             0           0           8               0           0           3.359       0.00     4.22
2008     1             0           0           7               0           0           3.070       0.00     4.22
2009     1             0           0           6               0           0           2.836       0.00     4.22
2010     1             0           0           6               0           0           2.642       0.00     4.22
2011     1             0           0           6               0           0           2.478       0.00     4.22
2012     1             0           0           5               0           0           2.338       0.00     4.22
2013     1             0           0           5               0           0           2.215       0.00     4.22
2014     1             0           0           5               0           0           2.108       0.00     4.22
2015     1             0           0           5               0           0           2.013       0.00     4.22
2016     1             0           0           4               0           0           1.928       0.00     4.22
2017     1             0           0           4               0           0           1.850       0.00     4.22

SUB-TOTAL              0           0         104               0           0          45.671       0.00     4.22
REMAINDER              0           0          53               0           0          22.888       0.00     4.22
TOTAL                  0           0         157               0           0          68.559       0.00     4.22

CUMULATIVE             0           0          33
ULTIMATE               0           0         190	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        25,242            0        25,242           0         757        24,485
2004                0           0        20,715            0        20,715           0         622        20,093
2005                0           0        17,795            0        17,795           0         534        17,261
2006                0           0        15,728            0        15,728           0         471        15,257
2007                0           0        14,173            0        14,173           0         426        13,747
2008                0           0        12,954            0        12,954           0         388        12,566
2009                0           0        11,967            0        11,967           0         359        11,608
2010                0           0        11,148            0        11,148           0         335        10,813
2011                0           0        10,458            0        10,458           0         313        10,145
2012                0           0         9,865            0         9,865           0         296         9,569
2013                0           0         9,349            0         9,349           0         281         9,068
2014                0           0         8,896            0         8,896           0         267         8,629
2015                0           0         8,494            0         8,494           0         255         8,239
2016                0           0         8,135            0         8,135           0         244         7,891
2017                0           0         7,807            0         7,807           0         234         7,573

SUB-TOT             0           0       192,726            0       192,726           0       5,782       186,944
REMAIN              0           0        96,586            0        96,586           0       2,897        93,689
TOTAL               0           0       289,312            0       289,312           0       8,679       280,633	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0           0           0         3,600         20,885        20,885        19,923
2004          3,600           0           0           0         3,600         16,493        37,378        14,234
2005          3,600           0           0           0         3,600         13,661        51,039        10,670
2006          3,600           0           0           0         3,600         11,657        62,696         8,240
2007          3,600           0           0           0         3,600         10,147        72,843         6,491
2008          3,600           0           0           0         3,600          8,966        81,809         5,192
2009          3,600           0           0           0         3,600          8,008        89,817         4,198
2010          3,600           0           0           0         3,600          7,213        97,030         3,422
2011          3,600           0           0           0         3,600          6,545       103,575         2,810
2012          3,600           0           0           0         3,600          5,969       109,544         2,320
2013          3,600           0           0           0         3,600          5,468       115,012         1,924
2014          3,600           0           0           0         3,600          5,029       120,041         1,602
2015          3,600           0           0           0         3,600          4,639       124,680         1,337
2016          3,600           0           0           0         3,600          4,291       128,971         1,120
2017          3,600           0           0           0         3,600          3,973       132,944           939

SUBTOT       54,000           0           0           0        54,000        132,944                      84,422
REMAIN       63,900           0           0           0        63,900         29,789       162,733         4,152
TOTAL       117,900           0           0           0       117,900        162,733                      88,574

  LIFE OF EVALUATION IS 32.75 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 248
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -        63,274
FINAL   -   0.500000                      0.437500                             4.22       10.00% -        10,245
REMARKS -                                                                                 15.00% -         1,711
                                                                                          20.00% -           294
                                                                                          25.00% -            52	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         256               0           0         112.093       0.00     4.22
TOTAL                  0           0         256               0           0         112.093       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         256	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0       473,034            0       473,034           0      14,191       458,843
TOTAL               0           0       473,034            0       473,034           0      14,191       458,843	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       44,220           0      10,000           0        54,220        404,623       404,623        10,245
TOTAL        44,220           0      10,000           0        54,220        404,623                      10,245

  LIFE OF EVALUATION IS 45.03 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 249
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -        14,280
FINAL   -   0.500000                      0.437500                             4.22       10.00% -         1,403
REMARKS -                                                                                 15.00% -           139
                                                                                          20.00% -            14
                                                                                          25.00% -             1	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0          95               0           0          41.560       0.00     4.22
TOTAL                  0           0          95               0           0          41.560       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          95	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0       175,384            0       175,384           0       5,262       170,122
TOTAL               0           0       175,384            0       175,384           0       5,262       170,122	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       12,996           0      10,000           0        22,996        147,126       147,126         1,403
TOTAL        12,996           0      10,000           0        22,996        147,126                       1,403

  LIFE OF EVALUATION IS 48.69 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 250
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
PURKEY #4 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       303,013
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       246,466
REMARKS -                                                                                 15.00% -       202,360
                                                                                          20.00% -       167,537
                                                                                          25.00% -       139,719	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          24               0           0          10.467       0.00     4.22
2004     1             0           0          64               0           0          28.241       0.00     4.22
2005     1             0           0          44               0           0          19.153       0.00     4.22
2006     1             0           0          35               0           0          15.053       0.00     4.22
2007     1             0           0          29               0           0          12.625       0.00     4.22
2008     1             0           0          25               0           0          10.988       0.00     4.22
2009     1             0           0          22               0           0           9.797       0.00     4.22
2010     1             0           0          20               0           0           8.884       0.00     4.22
2011     1             0           0          18               0           0           7.729       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         281               0           0         122.937       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         281               0           0         122.937       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         281	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        44,173            0        44,173           0       1,325        42,848
2004                0           0       119,177            0       119,177           0       3,576       115,601
2005                0           0        80,826            0        80,826           0       2,424        78,402
2006                0           0        63,524            0        63,524           0       1,906        61,618
2007                0           0        53,276            0        53,276           0       1,598        51,678
2008                0           0        46,370            0        46,370           0       1,391        44,979
2009                0           0        41,343            0        41,343           0       1,241        40,102
2010                0           0        37,491            0        37,491           0       1,124        36,367
2011                0           0        32,616            0        32,616           0         979        31,637
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       518,796            0       518,796           0      15,564       503,232
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       518,796            0       518,796           0      15,564       503,232	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0     100,000           0       100,000        -57,152       -57,152       -53,129
2004          1,800           0           0           0         1,800        113,801        56,649        98,511
2005          3,600           0           0           0         3,600         74,802       131,451        58,486
2006          3,600           0           0           0         3,600         58,018       189,469        41,032
2007          3,600           0           0           0         3,600         48,078       237,547        30,768
2008          3,600           0           0           0         3,600         41,379       278,926        23,964
2009          3,600           0           0           0         3,600         36,502       315,428        19,134
2010          3,600           0           0           0         3,600         32,767       348,195        15,545
2011          3,403           0           0           0         3,403         28,234       376,429        12,155
2012              0           0           0           0             0              0       376,429             0
2013              0           0           0           0             0              0       376,429             0
2014              0           0           0           0             0              0       376,429             0
2015              0           0           0           0             0              0       376,429             0
2016              0           0           0           0             0              0       376,429             0
2017              0           0           0           0             0              0       376,429             0

SUBTOT       26,803           0     100,000           0       126,803        376,429                     246,466
REMAIN            0           0           0           0             0              0       376,429             0
TOTAL        26,803           0     100,000           0       126,803        376,429                     246,466

  LIFE OF EVALUATION IS 8.95 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 251
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
PURKEY #5 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       326,619
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       265,509
REMARKS -                                                                                 15.00% -       218,119
                                                                                          20.00% -       180,874
                                                                                          25.00% -       151,223	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          26               0           0          11.467       0.00     4.22
2004     1             0           0          69               0           0          29.991       0.00     4.22
2005     1             0           0          45               0           0          19.967       0.00     4.22
2006     1             0           0          36               0           0          15.589       0.00     4.22
2007     1             0           0          30               0           0          13.030       0.00     4.22
2008     1             0           0          26               0           0          11.317       0.00     4.22
2009     1             0           0          23               0           0          10.075       0.00     4.22
2010     1             0           0          21               0           0           9.127       0.00     4.22
2011     1             0           0          19               0           0           8.374       0.00     4.22
2012     1             0           0           5               0           0           2.313       0.00     4.22
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         300               0           0         131.250       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         300               0           0         131.250       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         300	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        48,391            0        48,391           0       1,452        46,939
2004                0           0       126,561            0       126,561           0       3,797       122,764
2005                0           0        84,261            0        84,261           0       2,527        81,734
2006                0           0        65,787            0        65,787           0       1,974        63,813
2007                0           0        54,985            0        54,985           0       1,650        53,335
2008                0           0        47,756            0        47,756           0       1,432        46,324
2009                0           0        42,518            0        42,518           0       1,276        41,242
2010                0           0        38,515            0        38,515           0       1,155        37,360
2011                0           0        35,340            0        35,340           0       1,060        34,280
2012                0           0         9,761            0         9,761           0         293         9,468
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       553,875            0       553,875           0      16,616       537,259
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       553,875            0       553,875           0      16,616       537,259	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            900           0     100,000           0       100,900        -53,961       -53,961       -50,200
2004          3,600           0           0           0         3,600        119,164        65,203       103,147
2005          3,600           0           0           0         3,600         78,134       143,337        61,094
2006          3,600           0           0           0         3,600         60,213       203,550        42,587
2007          3,600           0           0           0         3,600         49,735       253,285        31,828
2008          3,600           0           0           0         3,600         42,724       296,009        24,744
2009          3,600           0           0           0         3,600         37,642       333,651        19,731
2010          3,600           0           0           0         3,600         33,760       367,411        16,017
2011          3,600           0           0           0         3,600         30,680       398,091        13,174
2012          1,046           0           0           0         1,046          8,422       406,513         3,387
2013              0           0           0           0             0              0       406,513             0
2014              0           0           0           0             0              0       406,513             0
2015              0           0           0           0             0              0       406,513             0
2016              0           0           0           0             0              0       406,513             0
2017              0           0           0           0             0              0       406,513             0

SUBTOT       30,746           0     100,000           0       130,746        406,513                     265,509
REMAIN            0           0           0           0             0              0       406,513             0
TOTAL        30,746           0     100,000           0       130,746        406,513                     265,509

  LIFE OF EVALUATION IS 9.29 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 252
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
RAY DEAN HELTON #1 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           1
ULTIMATE               0           0           1	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    253
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  TENGASCO, INC. - OPERATOR   10-T1S-R74E                          PROVED
    RAY DEAN HELTON #1 BP   (TRENTON-STONES RIVER)                 BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       283,831
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       241,111
REMARKS -                                                                                 15.00% -       206,477
                                                                                          20.00% -       178,111
                                                                                          25.00% -       154,656	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          32               0           0          27.802       0.00     4.22
2005     1             0           0          24               0           0          20.952       0.00     4.22
2006     1             0           0          18               0           0          15.790       0.00     4.22
2007     1             0           0          13               0           0          11.899       0.00     4.22
2008     1             0           0          11               0           0           8.967       0.00     4.22
2009     1             0           0           7               0           0           6.758       0.00     4.22
2010     1             0           0           6               0           0           5.093       0.00     4.22
2011     1             0           0           5               0           0           3.838       0.00     4.22
2012     1             0           0           0               0           0           0.455       0.00     4.22
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         116               0           0         101.554       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         116               0           0         101.554       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         116	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       117,326            0       117,326           0       3,520       113,806
2005                0           0        88,418            0        88,418           0       2,652        85,766
2006                0           0        66,633            0        66,633           0       1,999        64,634
2007                0           0        50,215            0        50,215           0       1,507        48,708
2008                0           0        37,842            0        37,842           0       1,135        36,707
2009                0           0        28,518            0        28,518           0         856        27,662
2010                0           0        21,492            0        21,492           0         644        20,848
2011                0           0        16,196            0        16,196           0         486        15,710
2012                0           0         1,920            0         1,920           0          58         1,862
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       428,560            0       428,560           0      12,857       415,703
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       428,560            0       428,560           0      12,857       415,703	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          7,200           0      20,000           0        27,200         86,606        86,606        74,050
2005          7,200           0           0           0         7,200         78,566       165,172        61,432
2006          7,200           0           0           0         7,200         57,434       222,606        40,655
2007          7,200           0           0           0         7,200         41,508       264,114        26,599
2008          7,200           0           0           0         7,200         29,507       293,621        17,120
2009          7,200           0           0           0         7,200         20,462       314,083        10,749
2010          7,200           0           0           0         7,200         13,648       327,731         6,492
2011          7,200           0           0           0         7,200          8,510       336,241         3,668
2012          1,006           0           0           0         1,006            856       337,097           346
2013              0           0           0           0             0              0       337,097             0
2014              0           0           0           0             0              0       337,097             0
2015              0           0           0           0             0              0       337,097             0
2016              0           0           0           0             0              0       337,097             0
2017              0           0           0           0             0              0       337,097             0

SUBTOT       58,606           0      20,000           0        78,606        337,097                     241,111
REMAIN            0           0           0           0             0              0       337,097             0
TOTAL        58,606           0      20,000           0        78,606        337,097                     241,111

  LIFE OF EVALUATION IS 9.14 YEARS.
  FINAL PRODUCTION RATE: 0.3 MMCF/MO	

TENGASCO, INC. TABLE 254
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #2 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000  0.437500                         26.90                               5.00% -       154,998
FINAL   -   0.500000  0.437500                         26.90                              10.00% -       146,192
REMARKS -                                                                                 15.00% -       138,029
                                                                                          20.00% -       130,452
                                                                                          25.00% -       123,409	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         7,003           0           0           3,064           0           0.000      26.90     0.00
2004     1         6,338           0           0           2,773           0           0.000      26.90     0.00
2005     1         2,093           0           0             915           0           0.000      26.90     0.00
2006     1            45           0           0              20           0           0.000      26.90     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         15,479           0           0           6,772           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             15,479           0           0           6,772           0           0.000      26.90     0.00

CUMULATIVE             0           0           0
ULTIMATE          15,479           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           82,413           0             0            0        82,413       2,472           0        79,941
2004           74,589           0             0            0        74,589       2,238           0        72,351
2005           24,639           0             0            0        24,639         739           0        23,900
2006              527           0             0            0           527          16           0           511
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       182,168           0             0            0       182,168       5,465           0       176,703
REMAIN              0           0             0            0             0           0           0             0
TOTAL         182,168           0             0            0       182,168       5,465           0       176,703	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          2,400           0           0           0         2,400         77,541        77,541        72,133
2004          4,800           0           0           0         4,800         67,551       145,092        58,760
2005          4,800           0           0           0         4,800         19,100       164,192        15,064
2006            192           0           0           0           192            319       164,511           235
2007              0           0           0           0             0              0       164,511             0
2008              0           0           0           0             0              0       164,511             0
2009              0           0           0           0             0              0       164,511             0
2010              0           0           0           0             0              0       164,511             0
2011              0           0           0           0             0              0       164,511             0
2012              0           0           0           0             0              0       164,511             0
2013              0           0           0           0             0              0       164,511             0
2014              0           0           0           0             0              0       164,511             0
2015              0           0           0           0             0              0       164,511             0
2016              0           0           0           0             0              0       164,511             0
2017              0           0           0           0             0              0       164,511             0

SUBTOT       12,192           0           0           0        12,192        164,511                     146,192
REMAIN            0           0           0           0             0              0       164,511             0
TOTAL        12,192           0           0           0        12,192        164,511                     146,192

  LIFE OF EVALUATION IS 3.04 YEARS.
  FINAL PRODUCTION RATE: 93 BBLS/MO	

                                 TENGASCO, INC.                    TABLE    255
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  MILLER PETROLEUM - OPERATOR   6-T1S-R75E                         PROVED
    RAY DEAN HELTON #2 BP1   (KNOX)                                BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       207,261
FINAL   -   0.500000                      0.437500                             4.22       10.00% -       159,445
REMARKS -                                                                                 15.00% -       123,513
                                                                                          20.00% -        96,312
                                                                                          25.00% -        75,572	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0          40               0           0          17.596       0.00     4.22
2007     1             0           0          35               0           0          15.344       0.00     4.22
2008     1             0           0          30               0           0          12.878       0.00     4.22
2009     1             0           0          25               0           0          10.970       0.00     4.22
2010     1             0           0          21               0           0           9.462       0.00     4.22
2011     1             0           0          15               0           0           6.245       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         166               0           0          72.495       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         166               0           0          72.495       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         166	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0        74,256            0        74,256           0       2,228        72,028
2007                0           0        64,752            0        64,752           0       1,942        62,810
2008                0           0        54,346            0        54,346           0       1,631        52,715
2009                0           0        46,293            0        46,293           0       1,388        44,905
2010                0           0        39,930            0        39,930           0       1,198        38,732
2011                0           0        26,353            0        26,353           0         791        25,562
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       305,930            0       305,930           0       9,178       296,752
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       305,930            0       305,930           0       9,178       296,752	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,300           0       5,000           0         8,300         63,728        63,728        44,806
2007          3,600           0           0           0         3,600         59,210       122,938        37,901
2008          3,600           0           0           0         3,600         49,115       172,053        28,455
2009          3,600           0           0           0         3,600         41,305       213,358        21,660
2010          3,600           0           0           0         3,600         35,132       248,490        16,675
2011          2,681           0           0           0         2,681         22,881       271,371         9,948
2012              0           0           0           0             0              0       271,371             0
2013              0           0           0           0             0              0       271,371             0
2014              0           0           0           0             0              0       271,371             0
2015              0           0           0           0             0              0       271,371             0
2016              0           0           0           0             0              0       271,371             0
2017              0           0           0           0             0              0       271,371             0

SUBTOT       20,381           0       5,000           0        25,381        271,371                     159,445
REMAIN            0           0           0           0             0              0       271,371             0
TOTAL        20,381           0       5,000           0        25,381        271,371                     159,445

  LIFE OF EVALUATION IS 8.74 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    256
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  MILLER PETROLEUM - OPERATOR   6-T1S-R75E                         PROVED
    RAY DEAN HELTON #2 BP2   (TRENTON)                             BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -        28,885
FINAL   -   0.500000                      0.437500                             4.22       10.00% -        18,085
REMARKS -                                                                                 15.00% -        11,347
                                                                                          20.00% -         7,135
                                                                                          25.00% -         4,496	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           9               0           0           3.734       0.00     4.22
2012     1             0           0          24               0           0          10.801       0.00     4.22
2013     1             0           0           1               0           0           0.339       0.00     4.22
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          34               0           0          14.874       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          34               0           0          14.874       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          34	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0        15,757            0        15,757           0         473        15,284
2012                0           0        45,582            0        45,582           0       1,367        44,215
2013                0           0         1,430            0         1,430           0          43         1,387
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        62,769            0        62,769           0       1,883        60,886
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        62,769            0        62,769           0       1,883        60,886	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011            900           0      10,000           0        10,900          4,384         4,384         1,779
2012          3,600           0           0           0         3,600         40,615        44,999        15,851
2013            151           0           0           0           151          1,236        46,235           455
2014              0           0           0           0             0              0        46,235             0
2015              0           0           0           0             0              0        46,235             0
2016              0           0           0           0             0              0        46,235             0
2017              0           0           0           0             0              0        46,235             0

SUBTOT        4,651           0      10,000           0        14,651         46,235                      18,085
REMAIN            0           0           0           0             0              0        46,235             0
TOTAL         4,651           0      10,000           0        14,651         46,235                      18,085

  LIFE OF EVALUATION IS 10.04 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 257
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #3 (STONES RIVER) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000  0.437500                         26.90                               5.00% -            44
FINAL   -   0.500000  0.437500                         26.90                              10.00% -            44
REMARKS -                                                                                 15.00% -            44
                                                                                          20.00% -            44
                                                                                          25.00% -            44	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1            39           0           0              17           0           0.000      26.90     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL             39           0           0              17           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                 39           0           0              17           0           0.000      26.90     0.00

CUMULATIVE         1,357           0           0
ULTIMATE           1,396           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003              458           0             0            0           458          14           0           444
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT           458           0             0            0           458          14           0           444
REMAIN              0           0             0            0             0           0           0             0
TOTAL             458           0             0            0           458          14           0           444	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            400           0           0           0           400             44            44            44
2004              0           0           0           0             0              0            44             0
2005              0           0           0           0             0              0            44             0
2006              0           0           0           0             0              0            44             0
2007              0           0           0           0             0              0            44             0
2008              0           0           0           0             0              0            44             0
2009              0           0           0           0             0              0            44             0
2010              0           0           0           0             0              0            44             0
2011              0           0           0           0             0              0            44             0
2012              0           0           0           0             0              0            44             0
2013              0           0           0           0             0              0            44             0
2014              0           0           0           0             0              0            44             0
2015              0           0           0           0             0              0            44             0
2016              0           0           0           0             0              0            44             0
2017              0           0           0           0             0              0            44             0

SUBTOT          400           0           0           0           400             44                          44
REMAIN            0           0           0           0             0              0            44             0
TOTAL           400           0           0           0           400             44                          44

  LIFE OF EVALUATION IS 0.08 YEARS.
  FINAL PRODUCTION RATE: 39 BBLS/MO	

TENGASCO, INC. TABLE 258
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #4 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,048,729
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       797,588
REMARKS -                                                                                 15.00% -       632,513
                                                                                          20.00% -       517,580
                                                                                          25.00% -       433,476	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          75               0           0          65.354       0.00     4.22
2004     1             0           0          58               0           0          51.358       0.00     4.22
2005     1             0           0          45               0           0          38.971       0.00     4.22
2006     1             0           0          37               0           0          32.112       0.00     4.22
2007     1             0           0          31               0           0          27.652       0.00     4.22
2008     1             0           0          28               0           0          24.478       0.00     4.22
2009     1             0           0          25               0           0          22.083       0.00     4.22
2010     1             0           0          24               0           0          20.199       0.00     4.22
2011     1             0           0          21               0           0          18.672       0.00     4.22
2012     1             0           0          20               0           0          17.405       0.00     4.22
2013     1             0           0          18               0           0          16.333       0.00     4.22
2014     1             0           0          18               0           0          15.412       0.00     4.22
2015     1             0           0          17               0           0          14.610       0.00     4.22
2016     1             0           0          16               0           0          13.878       0.00     4.22
2017     1             0           0          15               0           0          13.184       0.00     4.22

SUB-TOTAL              0           0         448               0           0         391.701       0.00     4.22
REMAINDER              0           0          52               0           0          45.799       0.00     4.22
TOTAL                  0           0         500               0           0         437.500       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         500	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       275,792            0       275,792           0       8,274       267,518
2004                0           0       216,730            0       216,730           0       6,502       210,228
2005                0           0       164,459            0       164,459           0       4,933       159,526
2006                0           0       135,512            0       135,512           0       4,066       131,446
2007                0           0       116,691            0       116,691           0       3,501       113,190
2008                0           0       103,296            0       103,296           0       3,098       100,198
2009                0           0        93,188            0        93,188           0       2,796        90,392
2010                0           0        85,240            0        85,240           0       2,557        82,683
2011                0           0        78,798            0        78,798           0       2,364        76,434
2012                0           0        73,449            0        73,449           0       2,204        71,245
2013                0           0        68,925            0        68,925           0       2,067        66,858
2014                0           0        65,040            0        65,040           0       1,952        63,088
2015                0           0        61,654            0        61,654           0       1,849        59,805
2016                0           0        58,566            0        58,566           0       1,757        56,809
2017                0           0        55,639            0        55,639           0       1,669        53,970

SUB-TOT             0           0     1,652,979            0     1,652,979           0      49,589     1,603,390
REMAIN              0           0       193,271            0       193,271           0       5,799       187,472
TOTAL               0           0     1,846,250            0     1,846,250           0      55,388     1,790,862	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          6,000           0     200,000           0       206,000         61,518        61,518        51,852
2004          7,200           0           0           0         7,200        203,028       264,546       175,433
2005          7,200           0           0           0         7,200        152,326       416,872       119,032
2006          7,200           0           0           0         7,200        124,246       541,118        87,846
2007          7,200           0           0           0         7,200        105,990       647,108        67,815
2008          7,200           0           0           0         7,200         92,998       740,106        53,853
2009          7,200           0           0           0         7,200         83,192       823,298        43,602
2010          7,200           0           0           0         7,200         75,483       898,781        35,809
2011          7,200           0           0           0         7,200         69,234       968,015        29,728
2012          7,200           0           0           0         7,200         64,045     1,032,060        24,892
2013          7,200           0           0           0         7,200         59,658     1,091,718        20,988
2014          7,200           0           0           0         7,200         55,888     1,147,606        17,797
2015          7,200           0           0           0         7,200         52,605     1,200,211        15,163
2016          7,200           0           0           0         7,200         49,609     1,249,820        12,945
2017          7,200           0           0           0         7,200         46,770     1,296,590        11,047

SUBTOT      106,800           0     200,000           0       306,800      1,296,590                     767,802
REMAIN       28,341           0           0           0        28,341        159,131     1,455,721        29,786
TOTAL       135,141           0     200,000           0       335,141      1,455,721                     797,588

  LIFE OF EVALUATION IS 18.94 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 259
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
RAY DEAN HELTON #6 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,006,017
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       734,070
REMARKS -                                                                                 15.00% -       558,624
                                                                                          20.00% -       438,724
                                                                                          25.00% -       352,709	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          86               0           0          75.237       0.00     4.22
2005     1             0           0          56               0           0          48.613       0.00     4.22
2006     1             0           0          42               0           0          37.575       0.00     4.22
2007     1             0           0          36               0           0          31.244       0.00     4.22
2008     1             0           0          31               0           0          27.052       0.00     4.22
2009     1             0           0          28               0           0          24.034       0.00     4.22
2010     1             0           0          24               0           0          21.738       0.00     4.22
2011     1             0           0          23               0           0          19.923       0.00     4.22
2012     1             0           0          21               0           0          18.445       0.00     4.22
2013     1             0           0          20               0           0          17.214       0.00     4.22
2014     1             0           0          18               0           0          16.170       0.00     4.22
2015     1             0           0          18               0           0          15.271       0.00     4.22
2016     1             0           0          16               0           0          14.485       0.00     4.22
2017     1             0           0          16               0           0          13.760       0.00     4.22

SUB-TOTAL              0           0         435               0           0         380.761       0.00     4.22
REMAINDER              0           0          65               0           0          56.739       0.00     4.22
TOTAL                  0           0         500               0           0         437.500       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         500	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       317,498            0       317,498           0       9,525       307,973
2005                0           0       205,147            0       205,147           0       6,154       198,993
2006                0           0       158,568            0       158,568           0       4,757       153,811
2007                0           0       131,851            0       131,851           0       3,956       127,895
2008                0           0       114,158            0       114,158           0       3,425       110,733
2009                0           0       101,422            0       101,422           0       3,042        98,380
2010                0           0        91,735            0        91,735           0       2,752        88,983
2011                0           0        84,076            0        84,076           0       2,523        81,553
2012                0           0        77,839            0        77,839           0       2,335        75,504
2013                0           0        72,643            0        72,643           0       2,179        70,464
2014                0           0        68,238            0        68,238           0       2,047        66,191
2015                0           0        64,444            0        64,444           0       1,934        62,510
2016                0           0        61,126            0        61,126           0       1,833        59,293
2017                0           0        58,068            0        58,068           0       1,742        56,326

SUB-TOT             0           0     1,606,813            0     1,606,813           0      48,204     1,558,609
REMAIN              0           0       239,437            0       239,437           0       7,184       232,253
TOTAL               0           0     1,846,250            0     1,846,250           0      55,388     1,790,862	

                                   DEDUCTIONS - $                        FUTURE NET INCOME BEFORE INCOME TAXES - $
            -----------------------------------------------------------  -----------------------------------------
             OPERATING   AD VALOREM   DEVELOPMENT                                UNDISCOUNTED          DISCOUNTED
  FD           COSTS        TAXES        COSTS       OTHER     TOTAL         ANNUAL       CUMULATIVE    @ 10.00 %
 ----       -----------  ----------   -----------  --------   ---------   ------------    ----------   -----------
v 2003             0           0           0           0             0              0             0             0
 2004          7,200           0     200,000           0       207,200        100,773       100,773        80,160
 2005          7,200           0           0           0         7,200        191,793       292,566       149,982
 2006          7,200           0           0           0         7,200        146,611       439,177       103,697
 2007          7,200           0           0           0         7,200        120,695       559,872        77,242
 2008          7,200           0           0           0         7,200        103,533       663,405        59,962
 2009          7,200           0           0           0         7,200         91,180       754,585        47,794
 2010          7,200           0           0           0         7,200         81,783       836,368        38,800
 2011          7,200           0           0           0         7,200         74,353       910,721        31,929
 2012          7,200           0           0           0         7,200         68,304       979,025        26,548
 2013          7,200           0           0           0         7,200         63,264     1,042,289        22,258
 2014          7,200           0           0           0         7,200         58,991     1,101,280        18,786
 2015          7,200           0           0           0         7,200         55,310     1,156,590        15,943
 2016          7,200           0           0           0         7,200         52,093     1,208,683        13,593
 2017          7,200           0           0           0         7,200         49,126     1,257,809        11,603

 SUBTOT      100,800           0     200,000           0       300,800      1,257,809                     698,297
 REMAIN       34,341           0           0           0        34,341        197,912     1,455,721        35,773
 TOTAL       135,141           0     200,000           0       335,141      1,455,721                     734,070

   LIFE OF EVALUATION IS 19.77 YEARS.
   FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 260
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
ROSE #1 (TRENTON) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                                                                       5.00% -             0
FINAL   -   0.500000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003            0           0           0           0             0              0             0             0
2004            0           0           0           0             0              0             0             0
2005            0           0           0           0             0              0             0             0
2006            0           0           0           0             0              0             0             0
2007            0           0           0           0             0              0             0             0
2008            0           0           0           0             0              0             0             0
2009            0           0           0           0             0              0             0             0
2010            0           0           0           0             0              0             0             0
2011            0           0           0           0             0              0             0             0
2012            0           0           0           0             0              0             0             0
2013            0           0           0           0             0              0             0             0
2014            0           0           0           0             0              0             0             0
2015            0           0           0           0             0              0             0             0
2016            0           0           0           0             0              0             0             0
2017            0           0           0           0             0              0             0             0

SUBTOT          0           0           0           0             0              0                           0
REMAIN          0           0           0           0             0              0             0             0
TOTAL           0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 261
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #1 (TRENTON) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000  0.437500                         26.90                               5.00% -        24,310
FINAL   -   0.500000  0.437500                         26.90                              10.00% -        21,951
REMARKS -                                                                                 15.00% -        19,950
                                                                                          20.00% -        18,243
                                                                                          25.00% -        16,774	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1         1,109           0           0             485           0           0.000      26.90     0.00
2004     1           965           0           0             422           0           0.000      26.90     0.00
2005     1           839           0           0             368           0           0.000      26.90     0.00
2006     1           730           0           0             319           0           0.000      26.90     0.00
2007     1           636           0           0             278           0           0.000      26.90     0.00
2008     1           553           0           0             242           0           0.000      26.90     0.00
2009     1           480           0           0             210           0           0.000      26.90     0.00
2010     1           160           0           0              70           0           0.000      26.90     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL          5,472           0           0           2,394           0           0.000      26.90     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL              5,472           0           0           2,394           0           0.000      26.90     0.00

CUMULATIVE         5,645           0           0
ULTIMATE          11,117           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003           13,051           0             0            0        13,051         392           0        12,659
2004           11,355           0             0            0        11,355         340           0        11,015
2005            9,879           0             0            0         9,879         297           0         9,582
2006            8,594           0             0            0         8,594         257           0         8,337
2007            7,477           0             0            0         7,477         225           0         7,252
2008            6,505           0             0            0         6,505         195           0         6,310
2009            5,660           0             0            0         5,660         170           0         5,490
2010            1,878           0             0            0         1,878          56           0         1,822
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT        64,399           0             0            0        64,399       1,932           0        62,467
REMAIN              0           0             0            0             0           0           0             0
TOTAL          64,399           0             0            0        64,399       1,932           0        62,467	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          4,800           0           0           0         4,800          7,859         7,859         7,494
2004          4,800           0           0           0         4,800          6,215        14,074         5,366
2005          4,800           0           0           0         4,800          4,782        18,856         3,738
2006          4,800           0           0           0         4,800          3,537        22,393         2,504
2007          4,800           0           0           0         4,800          2,452        24,845         1,572
2008          4,800           0           0           0         4,800          1,510        26,355           878
2009          4,800           0           0           0         4,800            690        27,045           365
2010          1,753           0           0           0         1,753             69        27,114            34
2011              0           0           0           0             0              0        27,114             0
2012              0           0           0           0             0              0        27,114             0
2013              0           0           0           0             0              0        27,114             0
2014              0           0           0           0             0              0        27,114             0
2015              0           0           0           0             0              0        27,114             0
2016              0           0           0           0             0              0        27,114             0
2017              0           0           0           0             0              0        27,114             0

SUBTOT       35,353           0           0           0        35,353         27,114                      21,951
REMAIN            0           0           0           0             0              0        27,114             0
TOTAL        35,353           0           0           0        35,353         27,114                      21,951

  LIFE OF EVALUATION IS 7.37 YEARS.
  FINAL PRODUCTION RATE: 36 BBLS/MO	

TENGASCO, INC. TABLE 262
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #2 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0          39
ULTIMATE               0           0          39	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 263
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #3 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -       168,297
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       137,480
REMARKS -                                                                                 15.00% -       116,502
                                                                                          20.00% -       101,407
                                                                                          25.00% -        90,042	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          17               0           0          11.385       0.00     4.22
2004     1             0           0          14               0           0           8.664       0.00     4.22
2005     1             0           0          10               0           0           7.149       0.00     4.22
2006     1             0           0          10               0           0           6.161       0.00     4.22
2007     1             0           0           8               0           0           5.457       0.00     4.22
2008     1             0           0           8               0           0           4.925       0.00     4.22
2009     1             0           0           7               0           0           4.506       0.00     4.22
2010     1             0           0           6               0           0           4.166       0.00     4.22
2011     1             0           0           6               0           0           3.884       0.00     4.22
2012     1             0           0           5               0           0           3.646       0.00     4.22
2013     1             0           0           6               0           0           3.440       0.00     4.22
2014     1             0           0           5               0           0           3.262       0.00     4.22
2015     1             0           0           4               0           0           3.098       0.00     4.22
2016     1             0           0           5               0           0           2.943       0.00     4.22
2017     1             0           0           4               0           0           2.796       0.00     4.22

SUB-TOTAL              0           0         115               0           0          75.482       0.00     4.22
REMAINDER              0           0          29               0           0          18.775       0.00     4.22
TOTAL                  0           0         144               0           0          94.257       0.00     4.22

CUMULATIVE             0           0          74
ULTIMATE               0           0         218	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        48,046            0        48,046           0       1,441        46,605
2004                0           0        36,562            0        36,562           0       1,097        35,465
2005                0           0        30,169            0        30,169           0         905        29,264
2006                0           0        25,999            0        25,999           0         780        25,219
2007                0           0        23,028            0        23,028           0         691        22,337
2008                0           0        20,783            0        20,783           0         624        20,159
2009                0           0        19,015            0        19,015           0         570        18,445
2010                0           0        17,582            0        17,582           0         528        17,054
2011                0           0        16,392            0        16,392           0         491        15,901
2012                0           0        15,385            0        15,385           0         462        14,923
2013                0           0        14,519            0        14,519           0         435        14,084
2014                0           0        13,764            0        13,764           0         413        13,351
2015                0           0        13,075            0        13,075           0         393        12,682
2016                0           0        12,422            0        12,422           0         372        12,050
2017                0           0        11,800            0        11,800           0         354        11,446

SUB-TOT             0           0       318,541            0       318,541           0       9,556       308,985
REMAIN              0           0        79,230            0        79,230           0       2,377        76,853
TOTAL               0           0       397,771            0       397,771           0      11,933       385,838	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         39,405        39,405        37,628
2004          7,200           0           0           0         7,200         28,265        67,670        24,409
2005          7,200           0           0           0         7,200         22,064        89,734        17,240
2006          7,200           0           0           0         7,200         18,019       107,753        12,740
2007          7,200           0           0           0         7,200         15,137       122,890         9,687
2008          7,200           0           0           0         7,200         12,959       135,849         7,506
2009          7,200           0           0           0         7,200         11,245       147,094         5,896
2010          7,200           0           0           0         7,200          9,854       156,948         4,676
2011          7,200           0           0           0         7,200          8,701       165,649         3,737
2012          7,200           0           0           0         7,200          7,723       173,372         3,003
2013          7,200           0           0           0         7,200          6,884       180,256         2,422
2014          7,200           0           0           0         7,200          6,151       186,407         1,960
2015          7,200           0           0           0         7,200          5,482       191,889         1,581
2016          7,200           0           0           0         7,200          4,850       196,739         1,266
2017          7,200           0           0           0         7,200          4,246       200,985         1,004

SUBTOT      108,000           0           0           0       108,000        200,985                     134,755
REMAIN       61,200           0           0           0        61,200         15,653       216,638         2,725
TOTAL       169,200           0           0           0       169,200        216,638                     137,480

  LIFE OF EVALUATION IS 23.50 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    264
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                           AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        OIL LEASE
  TENGASCO, INC. - OPERATOR   6-T1S-R75E                           PROVED
    STEPHEN LAWSON #3 BP   (TRNT-SR-MFB)                           BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.656250            0.656250     26.90                   4.22        5.00% -       187,165
FINAL   -   1.000000  0.656250            0.656250     26.90                   4.22       10.00% -        55,279
REMARKS -                                                                                 15.00% -        16,438
                                                                                          20.00% -         4,920
                                                                                          25.00% -         1,482	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER         38,665           0          26          25,374           0          17.047      26.90     4.22
TOTAL             38,665           0          26          25,374           0          17.047      26.90     4.22

CUMULATIVE             0           0           0
ULTIMATE          38,665           0          26	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN        682,558           0        71,939            0       754,497      20,477       2,158       731,862
TOTAL         682,558           0        71,939            0       754,497      20,477       2,158       731,862	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       43,738           0      50,000           0        93,738        638,124       638,124        55,279
TOTAL        43,738           0      50,000           0        93,738        638,124                      55,279

  LIFE OF EVALUATION IS 28.06 YEARS.
  FINAL PRODUCTION RATE: 64 BBLS/MO	

TENGASCO, INC. TABLE 265
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
STEPHEN LAWSON #4 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -         2,842
FINAL   -   1.000000                      0.656250                             4.22       10.00% -         2,756
REMARKS -                                                                                 15.00% -         2,674
                                                                                          20.00% -         2,597
                                                                                          25.00% -         2,523	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0           4               0           0           2.313       0.00     4.22
2004     1             0           0           2               0           0           1.920       0.00     4.22
2005     1             0           0           1               0           0           0.148       0.00     4.22
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           7               0           0           4.381       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           7               0           0           4.381       0.00     4.22

CUMULATIVE             0           0          10
ULTIMATE               0           0          17	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0         9,760            0         9,760           0         293         9,467
2004                0           0         8,103            0         8,103           0         243         7,860
2005                0           0           624            0           624           0          19           605
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0        18,487            0        18,487           0         555        17,932
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0        18,487            0        18,487           0         555        17,932	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200          2,267         2,267         2,174
2004          7,200           0           0           0         7,200            660         2,927           578
2005            600           0           0           0           600              5         2,932             4
2006              0           0           0           0             0              0         2,932             0
2007              0           0           0           0             0              0         2,932             0
2008              0           0           0           0             0              0         2,932             0
2009              0           0           0           0             0              0         2,932             0
2010              0           0           0           0             0              0         2,932             0
2011              0           0           0           0             0              0         2,932             0
2012              0           0           0           0             0              0         2,932             0
2013              0           0           0           0             0              0         2,932             0
2014              0           0           0           0             0              0         2,932             0
2015              0           0           0           0             0              0         2,932             0
2016              0           0           0           0             0              0         2,932             0
2017              0           0           0           0             0              0         2,932             0

SUBTOT       15,000           0           0           0        15,000          2,932                       2,756
REMAIN            0           0           0           0             0              0         2,932             0
TOTAL        15,000           0           0           0        15,000          2,932                       2,756

  LIFE OF EVALUATION IS 2.08 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    266
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        OIL LEASE
  TENGASCO, INC. - OPERATOR   7-T1S-R75E                           PROVED
    STEPHEN LAWSON #4 BP   (STONES RIVER)                          BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000  0.656250            0.656250     26.90                   4.22        5.00% -       155,182
FINAL   -   1.000000  0.656250            0.656250     26.90                   4.22       10.00% -       133,299
REMARKS -                                                                                 15.00% -       114,710
                                                                                          20.00% -        98,888
                                                                                          25.00% -        85,392	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005               7,064           0           5           4,636           0           3.115      26.90     4.22
2006     1         3,542           0           2           2,324           0           1.562      26.90     4.22
2007     1         1,566           0           1           1,028           0           0.691      26.90     4.22
2008     1           613           0           1             402           0           0.270      26.90     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL         12,785           0           9           8,390           0           5.638      26.90     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL             12,785           0           9           8,390           0           5.638      26.90     4.22

CUMULATIVE             0           0           0
ULTIMATE          12,785           0           9	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005          124,707           0        13,144            0       137,851       3,741         394       133,716
2006           62,521           0         6,589            0        69,110       1,876         198        67,036
2007           27,652           0         2,914            0        30,566         829          87        29,650
2008           10,817           0         1,140            0        11,957         325          35        11,597
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT       225,697           0        23,787            0       249,484       6,771         714       241,999
REMAIN              0           0             0            0             0           0           0             0
TOTAL         225,697           0        23,787            0       249,484       6,771         714       241,999	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          8,800           0      25,000           0        33,800         99,916        99,916        77,365
2006          9,600           0           0           0         9,600         57,436       157,352        40,865
2007          9,600           0           0           0         9,600         20,050       177,402        12,939
2008          8,000           0           0           0         8,000          3,597       180,999         2,130
2009              0           0           0           0             0              0       180,999             0
2010              0           0           0           0             0              0       180,999             0
2011              0           0           0           0             0              0       180,999             0
2012              0           0           0           0             0              0       180,999             0
2013              0           0           0           0             0              0       180,999             0
2014              0           0           0           0             0              0       180,999             0
2015              0           0           0           0             0              0       180,999             0
2016              0           0           0           0             0              0       180,999             0
2017              0           0           0           0             0              0       180,999             0

SUBTOT       36,000           0      25,000           0        61,000        180,999                     133,299
REMAIN            0           0           0           0             0              0       180,999             0
TOTAL        36,000           0      25,000           0        61,000        180,999                     133,299

  LIFE OF EVALUATION IS 5.83 YEARS.
  FINAL PRODUCTION RATE: 44 BBLS/MO	

TENGASCO, INC. TABLE 267
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #5 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -       191,293
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       158,916
REMARKS -                                                                                 15.00% -       136,611
                                                                                          20.00% -       120,373
                                                                                          25.00% -       108,011	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          22               0           0          14.517       0.00     4.22
2004     1             0           0          15               0           0           9.900       0.00     4.22
2005     1             0           0          12               0           0           7.797       0.00     4.22
2006     1             0           0          10               0           0           6.546       0.00     4.22
2007     1             0           0           9               0           0           5.701       0.00     4.22
2008     1             0           0           8               0           0           5.086       0.00     4.22
2009     1             0           0           7               0           0           4.613       0.00     4.22
2010     1             0           0           6               0           0           4.237       0.00     4.22
2011     1             0           0           6               0           0           3.930       0.00     4.22
2012     1             0           0           6               0           0           3.672       0.00     4.22
2013     1             0           0           5               0           0           3.454       0.00     4.22
2014     1             0           0           5               0           0           3.265       0.00     4.22
2015     1             0           0           5               0           0           3.098       0.00     4.22
2016     1             0           0           4               0           0           2.943       0.00     4.22
2017     1             0           0           4               0           0           2.796       0.00     4.22

SUB-TOTAL              0           0         124               0           0          81.555       0.00     4.22
REMAINDER              0           0          29               0           0          18.775       0.00     4.22
TOTAL                  0           0         153               0           0         100.330       0.00     4.22

CUMULATIVE             0           0          67
ULTIMATE               0           0         220	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        61,263            0        61,263           0       1,838        59,425
2004                0           0        41,780            0        41,780           0       1,253        40,527
2005                0           0        32,902            0        32,902           0         987        31,915
2006                0           0        27,624            0        27,624           0         829        26,795
2007                0           0        24,060            0        24,060           0         722        23,338
2008                0           0        21,461            0        21,461           0         644        20,817
2009                0           0        19,468            0        19,468           0         584        18,884
2010                0           0        17,881            0        17,881           0         536        17,345
2011                0           0        16,583            0        16,583           0         498        16,085
2012                0           0        15,498            0        15,498           0         465        15,033
2013                0           0        14,574            0        14,574           0         437        14,137
2014                0           0        13,777            0        13,777           0         413        13,364
2015                0           0        13,076            0        13,076           0         392        12,684
2016                0           0        12,421            0        12,421           0         373        12,048
2017                0           0        11,801            0        11,801           0         354        11,447

SUB-TOT             0           0       344,169            0       344,169           0      10,325       333,844
REMAIN              0           0        79,230            0        79,230           0       2,377        76,853
TOTAL               0           0       423,399            0       423,399           0      12,702       410,697	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200         52,225        52,225        49,944
2004          7,200           0           0           0         7,200         33,327        85,552        28,796
2005          7,200           0           0           0         7,200         24,715       110,267        19,317
2006          7,200           0           0           0         7,200         19,595       129,862        13,858
2007          7,200           0           0           0         7,200         16,138       146,000        10,329
2008          7,200           0           0           0         7,200         13,617       159,617         7,888
2009          7,200           0           0           0         7,200         11,684       171,301         6,126
2010          7,200           0           0           0         7,200         10,145       181,446         4,814
2011          7,200           0           0           0         7,200          8,885       190,331         3,817
2012          7,200           0           0           0         7,200          7,833       198,164         3,045
2013          7,200           0           0           0         7,200          6,937       205,101         2,442
2014          7,200           0           0           0         7,200          6,164       211,265         1,964
2015          7,200           0           0           0         7,200          5,484       216,749         1,581
2016          7,200           0           0           0         7,200          4,848       221,597         1,266
2017          7,200           0           0           0         7,200          4,247       225,844         1,004

SUBTOT      108,000           0           0           0       108,000        225,844                     156,191
REMAIN       61,200           0           0           0        61,200         15,653       241,497         2,725
TOTAL       169,200           0           0           0       169,200        241,497                     158,916

  LIFE OF EVALUATION IS 23.50 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

                                 TENGASCO, INC.                    TABLE    268
                     ESTIMATED FUTURE RESERVES AND INCOME
            ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
                                   SEC CASE
                            AS OF DECEMBER 31, 2002

SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE                        GAS LEASE
  TENGASCO, INC. - OPERATOR   6-T1S-R75E                           PROVED
    STEPHEN LAWSON #5 BP   (KNOX)                                  BEHIND PIPE	

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -       412,725
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       105,099
REMARKS -                                                                                 15.00% -        27,890
                                                                                          20.00% -         7,642
                                                                                          25.00% -         2,147	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0         689               0           0         452.127       0.00     4.22
TOTAL                  0           0         689               0           0         452.127       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         689	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0     1,907,974            0     1,907,974           0      57,239     1,850,735
TOTAL               0           0     1,907,974            0     1,907,974           0      57,239     1,850,735	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN      122,747           0      20,000           0       142,747      1,707,988     1,707,988       105,099
TOTAL       122,747           0      20,000           0       142,747      1,707,988                     105,099

  LIFE OF EVALUATION IS 40.55 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 269
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #6 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -     1,119,268
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       798,300
REMARKS -                                                                                 15.00% -       603,331
                                                                                          20.00% -       474,239
                                                                                          25.00% -       382,936	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0         124               0           0          81.469       0.00     4.22
2005     1             0           0          78               0           0          50.916       0.00     4.22
2006     1             0           0          59               0           0          38.950       0.00     4.22
2007     1             0           0          49               0           0          32.221       0.00     4.22
2008     1             0           0          43               0           0          27.811       0.00     4.22
2009     1             0           0          37               0           0          24.657       0.00     4.22
2010     1             0           0          34               0           0          22.269       0.00     4.22
2011     1             0           0          31               0           0          20.387       0.00     4.22
2012     1             0           0          29               0           0          18.858       0.00     4.22
2013     1             0           0          27               0           0          17.587       0.00     4.22
2014     1             0           0          25               0           0          16.511       0.00     4.22
2015     1             0           0          24               0           0          15.586       0.00     4.22
2016     1             0           0          22               0           0          14.778       0.00     4.22
2017     1             0           0          21               0           0          14.039       0.00     4.22

SUB-TOTAL              0           0         603               0           0         396.039       0.00     4.22
REMAINDER              0           0         173               0           0         113.208       0.00     4.22
TOTAL                  0           0         776               0           0         509.247       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         776	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       343,800            0       343,800           0      10,314       333,486
2005                0           0       214,864            0       214,864           0       6,446       208,418
2006                0           0       164,371            0       164,371           0       4,931       159,440
2007                0           0       135,974            0       135,974           0       4,079       131,895
2008                0           0       117,365            0       117,365           0       3,521       113,844
2009                0           0       104,054            0       104,054           0       3,122       100,932
2010                0           0        93,977            0        93,977           0       2,819        91,158
2011                0           0        86,033            0        86,033           0       2,581        83,452
2012                0           0        79,582            0        79,582           0       2,388        77,194
2013                0           0        74,219            0        74,219           0       2,226        71,993
2014                0           0        69,678            0        69,678           0       2,090        67,588
2015                0           0        65,772            0        65,772           0       1,974        63,798
2016                0           0        62,365            0        62,365           0       1,871        60,494
2017                0           0        59,243            0        59,243           0       1,777        57,466

SUB-TOT             0           0     1,671,297            0     1,671,297           0      50,139     1,621,158
REMAIN              0           0       477,738            0       477,738           0      14,332       463,406
TOTAL               0           0     2,149,035            0     2,149,035           0      64,471     2,084,564	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          7,200           0     200,000           0       207,200        126,286       126,286       102,393
2005          7,200           0           0           0         7,200        201,218       327,504       157,372
2006          7,200           0           0           0         7,200        152,240       479,744       107,684
2007          7,200           0           0           0         7,200        124,695       604,439        79,804
2008          7,200           0           0           0         7,200        106,644       711,083        61,765
2009          7,200           0           0           0         7,200         93,732       804,815        49,133
2010          7,200           0           0           0         7,200         83,958       888,773        39,832
2011          7,200           0           0           0         7,200         76,252       965,025        32,744
2012          7,200           0           0           0         7,200         69,994     1,035,019        27,206
2013          7,200           0           0           0         7,200         64,793     1,099,812        22,795
2014          7,200           0           0           0         7,200         60,388     1,160,200        19,231
2015          7,200           0           0           0         7,200         56,598     1,216,798        16,315
2016          7,200           0           0           0         7,200         53,294     1,270,092        13,906
2017          7,200           0           0           0         7,200         50,266     1,320,358        11,872

SUBTOT      100,800           0     200,000           0       300,800      1,320,358                     742,052
REMAIN       77,536           0           0           0        77,536        385,870     1,706,228        56,248
TOTAL       178,336           0     200,000           0       378,336      1,706,228                     798,300

  LIFE OF EVALUATION IS 25.77 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 270
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
STEPHEN LAWSON #7 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.656250                             4.22        5.00% -       845,961
FINAL   -   1.000000                      0.656250                             4.22       10.00% -       605,793
REMARKS -                                                                                 15.00% -       454,913
                                                                                          20.00% -       353,446
                                                                                          25.00% -       281,338	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0         101               0           0          66.114       0.00     4.22
2005     1             0           0          63               0           0          41.827       0.00     4.22
2006     1             0           0          49               0           0          32.116       0.00     4.22
2007     1             0           0          41               0           0          26.616       0.00     4.22
2008     1             0           0          35               0           0          22.999       0.00     4.22
2009     1             0           0          31               0           0          20.405       0.00     4.22
2010     1             0           0          28               0           0          18.439       0.00     4.22
2011     1             0           0          26               0           0          16.887       0.00     4.22
2012     1             0           0          24               0           0          15.625       0.00     4.22
2013     1             0           0          22               0           0          14.576       0.00     4.22
2014     1             0           0          21               0           0          13.687       0.00     4.22
2015     1             0           0          20               0           0          12.922       0.00     4.22
2016     1             0           0          18               0           0          12.254       0.00     4.22
2017     1             0           0          18               0           0          11.641       0.00     4.22

SUB-TOTAL              0           0         497               0           0         326.108       0.00     4.22
REMAINDER              0           0         103               0           0          67.643       0.00     4.22
TOTAL                  0           0         600               0           0         393.751       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         600	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       279,001            0       279,001           0       8,370       270,631
2005                0           0       176,512            0       176,512           0       5,295       171,217
2006                0           0       135,530            0       135,530           0       4,066       131,464
2007                0           0       112,321            0       112,321           0       3,370       108,951
2008                0           0        97,054            0        97,054           0       2,912        94,142
2009                0           0        86,110            0        86,110           0       2,583        83,527
2010                0           0        77,812            0        77,812           0       2,334        75,478
2011                0           0        71,262            0        71,262           0       2,138        69,124
2012                0           0        65,939            0        65,939           0       1,978        63,961
2013                0           0        61,510            0        61,510           0       1,846        59,664
2014                0           0        57,757            0        57,757           0       1,732        56,025
2015                0           0        54,530            0        54,530           0       1,636        52,894
2016                0           0        51,711            0        51,711           0       1,551        50,160
2017                0           0        49,123            0        49,123           0       1,474        47,649

SUB-TOT             0           0     1,376,172            0     1,376,172           0      41,285     1,334,887
REMAIN              0           0       285,453            0       285,453           0       8,564       276,889
TOTAL               0           0     1,661,625            0     1,661,625           0      49,849     1,611,776	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          7,200           0     200,000           0       207,200         63,431        63,431        47,900
2005          7,200           0           0           0         7,200        164,017       227,448       128,275
2006          7,200           0           0           0         7,200        124,264       351,712        87,895
2007          7,200           0           0           0         7,200        101,751       453,463        65,120
2008          7,200           0           0           0         7,200         86,942       540,405        50,355
2009          7,200           0           0           0         7,200         76,327       616,732        40,010
2010          7,200           0           0           0         7,200         68,278       685,010        32,393
2011          7,200           0           0           0         7,200         61,924       746,934        26,592
2012          7,200           0           0           0         7,200         56,761       803,695        22,063
2013          7,200           0           0           0         7,200         52,464       856,159        18,458
2014          7,200           0           0           0         7,200         48,825       904,984        15,549
2015          7,200           0           0           0         7,200         45,694       950,678        13,171
2016          7,200           0           0           0         7,200         42,960       993,638        11,210
2017          7,200           0           0           0         7,200         40,449     1,034,087         9,554

SUBTOT      100,800           0     200,000           0       300,800      1,034,087                     568,545
REMAIN       51,242           0           0           0        51,242        225,647     1,259,734        37,248
TOTAL       152,042           0     200,000           0       352,042      1,259,734                     605,793

  LIFE OF EVALUATION IS 22.12 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 271
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
T.J. HARRISON #1 (TRENTON) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO REMAINING ECONOMIC RESERVES.                                                 15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE           727           0           0
ULTIMATE             727           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 0.00 YEARS.
  FINAL PRODUCTION RATE: 0 BBLS/MO	

TENGASCO, INC. TABLE 272
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 4-T1S-R75E PROVED
WARREN REED #1 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       195,851
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       173,731
REMARKS -                                                                                 15.00% -       154,468
                                                                                          20.00% -       137,654
                                                                                          25.00% -       122,944	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          24               0           0          20.577       0.00     4.22
2005     1             0           0          22               0           0          19.754       0.00     4.22
2006     1             0           0          22               0           0          18.964       0.00     4.22
2007     1             0           0           0               0           0           0.051       0.00     4.22
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0          68               0           0          59.346       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0          68               0           0          59.346       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0          68	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        86,836            0        86,836           0       2,605        84,231
2005                0           0        83,362            0        83,362           0       2,501        80,861
2006                0           0        80,027            0        80,027           0       2,401        77,626
2007                0           0           215            0           215           0           6           209
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       250,440            0       250,440           0       7,513       242,927
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       250,440            0       250,440           0       7,513       242,927	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          7,200           0           0           0         7,200         77,031        77,031        66,394
2005          7,200           0           0           0         7,200         73,661       150,692        57,472
2006          7,200           0           0           0         7,200         70,426       221,118        49,739
2007             20           0           0           0            20            189       221,307           126
2008              0           0           0           0             0              0       221,307             0
2009              0           0           0           0             0              0       221,307             0
2010              0           0           0           0             0              0       221,307             0
2011              0           0           0           0             0              0       221,307             0
2012              0           0           0           0             0              0       221,307             0
2013              0           0           0           0             0              0       221,307             0
2014              0           0           0           0             0              0       221,307             0
2015              0           0           0           0             0              0       221,307             0
2016              0           0           0           0             0              0       221,307             0
2017              0           0           0           0             0              0       221,307             0

SUBTOT       21,620           0           0           0        21,620        221,307                     173,731
REMAIN            0           0           0           0             0              0       221,307             0
TOTAL        21,620           0           0           0        21,620        221,307                     173,731

  LIFE OF EVALUATION IS 4.00 YEARS.
  FINAL PRODUCTION RATE: 1.8 MMCF/MO	

TENGASCO, INC. TABLE 273
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 4-T1S-R75E PROVED
WARREN REED #1 BP (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       926,318
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       673,415
REMARKS -                                                                                 15.00% -       494,390
                                                                                          20.00% -       366,206
                                                                                          25.00% -       273,455	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0          97               0           0          84.816       0.00     4.22
2008     1             0           0          81               0           0          70.654       0.00     4.22
2009     1             0           0          61               0           0          53.293       0.00     4.22
2010     1             0           0          46               0           0          40.198       0.00     4.22
2011     1             0           0          34               0           0          30.321       0.00     4.22
2012     1             0           0          26               0           0          22.871       0.00     4.22
2013     1             0           0          20               0           0          17.251       0.00     4.22
2014     1             0           0          15               0           0          13.012       0.00     4.22
2015     1             0           0           3               0           0           2.708       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         383               0           0         335.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         383               0           0         335.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         383	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0       357,925            0       357,925           0      10,738       347,187
2008                0           0       298,160            0       298,160           0       8,945       289,215
2009                0           0       224,897            0       224,897           0       6,746       218,151
2010                0           0       169,637            0       169,637           0       5,090       164,547
2011                0           0       127,954            0       127,954           0       3,838       124,116
2012                0           0        96,515            0        96,515           0       2,896        93,619
2013                0           0        72,799            0        72,799           0       2,184        70,615
2014                0           0        54,912            0        54,912           0       1,647        53,265
2015                0           0        11,429            0        11,429           0         343        11,086
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,414,228            0     1,414,228           0      42,427     1,371,801
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,414,228            0     1,414,228           0      42,427     1,371,801	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007          6,600           0      25,000           0        31,600        315,587       315,587       200,599
2008          7,200           0           0           0         7,200        282,015       597,602       163,535
2009          7,200           0           0           0         7,200        210,951       808,553       110,734
2010          7,200           0           0           0         7,200        157,347       965,900        74,768
2011          7,200           0           0           0         7,200        116,916     1,082,816        50,293
2012          7,200           0           0           0         7,200         86,419     1,169,235        33,651
2013          7,200           0           0           0         7,200         63,415     1,232,650        22,355
2014          7,200           0           0           0         7,200         46,065     1,278,715        14,701
2015          1,793           0           0           0         1,793          9,293     1,288,008         2,779
2016              0           0           0           0             0              0     1,288,008             0
2017              0           0           0           0             0              0     1,288,008             0

SUBTOT       58,793           0      25,000           0        83,793      1,288,008                     673,415
REMAIN            0           0           0           0             0              0     1,288,008             0
TOTAL        58,793           0      25,000           0        83,793      1,288,008                     673,415

  LIFE OF EVALUATION IS 12.25 YEARS.
  FINAL PRODUCTION RATE: 1.0 MMCF/MO	

TENGASCO, INC. TABLE 274
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 (KNOX) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.781250                             4.22        5.00% -     1,908,000
FINAL   -   1.000000                      0.781250                             4.22       10.00% -     1,395,413
REMARKS -                                                                                 15.00% -     1,113,741
                                                                                          20.00% -       935,091
                                                                                          25.00% -       810,692	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0         102               0           0          79.460       0.00     4.22
2004     1             0           0          78               0           0          61.053       0.00     4.22
2005     1             0           0          65               0           0          50.615       0.00     4.22
2006     1             0           0          56               0           0          43.744       0.00     4.22
2007     1             0           0          49               0           0          38.817       0.00     4.22
2008     1             0           0          45               0           0          35.079       0.00     4.22
2009     1             0           0          41               0           0          32.129       0.00     4.22
2010     1             0           0          38               0           0          29.731       0.00     4.22
2011     1             0           0          36               0           0          27.735       0.00     4.22
2012     1             0           0          33               0           0          26.044       0.00     4.22
2013     1             0           0          32               0           0          24.589       0.00     4.22
2014     1             0           0          30               0           0          23.319       0.00     4.22
2015     1             0           0          28               0           0          22.152       0.00     4.22
2016     1             0           0          27               0           0          21.044       0.00     4.22
2017     1             0           0          25               0           0          19.992       0.00     4.22

SUB-TOTAL              0           0         685               0           0         535.503       0.00     4.22
REMAINDER              0           0         370               0           0         288.466       0.00     4.22
TOTAL                  0           0       1,055               0           0         823.969       0.00     4.22

CUMULATIVE             0           0         369
ULTIMATE               0           0       1,424	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       335,322            0       335,322           0      10,060       325,262
2004                0           0       257,645            0       257,645           0       7,729       249,916
2005                0           0       213,596            0       213,596           0       6,408       207,188
2006                0           0       184,602            0       184,602           0       5,538       179,064
2007                0           0       163,807            0       163,807           0       4,914       158,893
2008                0           0       148,035            0       148,035           0       4,441       143,594
2009                0           0       135,586            0       135,586           0       4,068       131,518
2010                0           0       125,463            0       125,463           0       3,764       121,699
2011                0           0       117,043            0       117,043           0       3,511       113,532
2012                0           0       109,906            0       109,906           0       3,297       106,609
2013                0           0       103,768            0       103,768           0       3,113       100,655
2014                0           0        98,406            0        98,406           0       2,952        95,454
2015                0           0        93,481            0        93,481           0       2,805        90,676
2016                0           0        88,808            0        88,808           0       2,664        86,144
2017                0           0        84,367            0        84,367           0       2,531        81,836

SUB-TOT             0           0     2,259,835            0     2,259,835           0      67,795     2,192,040
REMAIN              0           0     1,217,328            0     1,217,328           0      36,520     1,180,808
TOTAL               0           0     3,477,163            0     3,477,163           0     104,315     3,372,848	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          7,200           0           0           0         7,200        318,062       318,062       303,553
2004          7,200           0           0           0         7,200        242,716       560,778       209,505
2005          7,200           0           0           0         7,200        199,988       760,766       156,193
2006          7,200           0           0           0         7,200        171,864       932,630       121,472
2007          7,200           0           0           0         7,200        151,693     1,084,323        97,035
2008          7,200           0           0           0         7,200        136,394     1,220,717        78,969
2009          7,200           0           0           0         7,200        124,318     1,345,035        65,148
2010          7,200           0           0           0         7,200        114,499     1,459,534        54,311
2011          7,200           0           0           0         7,200        106,332     1,565,866        45,653
2012          7,200           0           0           0         7,200         99,409     1,665,275        38,634
2013          7,200           0           0           0         7,200         93,455     1,758,730        32,875
2014          7,200           0           0           0         7,200         88,254     1,846,984        28,103
2015          7,200           0           0           0         7,200         83,476     1,930,460        24,061
2016          7,200           0           0           0         7,200         78,944     2,009,404        20,598
2017          7,200           0           0           0         7,200         74,636     2,084,040        17,629

SUBTOT      108,000           0           0           0       108,000      2,084,040                   1,293,739
REMAIN      199,982           0           0           0       199,982        980,826     3,064,866       101,674
TOTAL       307,982           0           0           0       307,982      3,064,866                   1,395,413

  LIFE OF EVALUATION IS 42.78 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 275
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 BP1 (KNOX) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.781250                             4.22        5.00% -       369,817
FINAL   -   1.000000                      0.781250                             4.22       10.00% -        39,247
REMARKS -                                                                                 15.00% -         4,242
                                                                                          20.00% -           466
                                                                                          25.00% -            52	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0       1,139               0           0         890.153       0.00     4.22
TOTAL                  0           0       1,139               0           0         890.153       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0       1,139	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0     3,756,446            0     3,756,446           0     112,693     3,643,753
TOTAL               0           0     3,756,446            0     3,756,446           0     112,693     3,643,753	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN       51,600           0      40,000           0        91,600      3,552,153     3,552,153        39,247
TOTAL        51,600           0      40,000           0        91,600      3,552,153                      39,247

  LIFE OF EVALUATION IS 50.00 YEARS.
  FINAL PRODUCTION RATE: 6.8 MMCF/MO	

TENGASCO, INC. TABLE 276
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 BP2 (SR-MFB) BEHIND PIPE

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                                                                       5.00% -             0
FINAL   -   1.000000                                                                      10.00% -             0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD.                                15.00% -             0
                                                                                          20.00% -             0
                                                                                          25.00% -             0	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007                   0           0           0               0           0           0.000       0.00     0.00
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0           0               0           0           0.000       0.00     0.00
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0           0               0           0           0.000       0.00     0.00

CUMULATIVE             0           0           0
ULTIMATE               0           0           0	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0             0            0             0           0           0             0
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0             0            0             0           0           0             0
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0             0            0             0           0           0             0	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007              0           0           0           0             0              0             0             0
2008              0           0           0           0             0              0             0             0
2009              0           0           0           0             0              0             0             0
2010              0           0           0           0             0              0             0             0
2011              0           0           0           0             0              0             0             0
2012              0           0           0           0             0              0             0             0
2013              0           0           0           0             0              0             0             0
2014              0           0           0           0             0              0             0             0
2015              0           0           0           0             0              0             0             0
2016              0           0           0           0             0              0             0             0
2017              0           0           0           0             0              0             0             0

SUBTOT            0           0           0           0             0              0                           0
REMAIN            0           0           0           0             0              0             0             0
TOTAL             0           0           0           0             0              0                           0

  LIFE OF EVALUATION IS 49.92 YEARS.
  FINAL PRODUCTION RATE: 0.0 MMCF/MO	

TENGASCO, INC. TABLE 277
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
WELLS/YEARY #1 (REEDSVILLE-TRENTON) PRODUCING

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.437500                             4.22        5.00% -       102,347
FINAL   -   0.500000                      0.437500                             4.22       10.00% -        80,321
REMARKS -                                                                                 15.00% -        65,861
                                                                                          20.00% -        55,761
                                                                                          25.00% -        48,350	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          11               0           0           5.002       0.00     4.22
2004     1             0           0          11               0           0           4.504       0.00     4.22
2005     1             0           0           9               0           0           4.078       0.00     4.22
2006     1             0           0           9               0           0           3.710       0.00     4.22
2007     1             0           0           7               0           0           3.390       0.00     4.22
2008     1             0           0           7               0           0           3.111       0.00     4.22
2009     1             0           0           7               0           0           2.866       0.00     4.22
2010     1             0           0           6               0           0           2.648       0.00     4.22
2011     1             0           0           6               0           0           2.455       0.00     4.22
2012     1             0           0           5               0           0           2.283       0.00     4.22
2013     1             0           0           5               0           0           2.128       0.00     4.22
2014     1             0           0           4               0           0           1.989       0.00     4.22
2015     1             0           0           4               0           0           1.864       0.00     4.22
2016     1             0           0           4               0           0           1.750       0.00     4.22
2017     1             0           0           4               0           0           1.646       0.00     4.22

SUB-TOTAL              0           0          99               0           0          43.424       0.00     4.22
REMAINDER              0           0          32               0           0          14.017       0.00     4.22
TOTAL                  0           0         131               0           0          57.441       0.00     4.22

CUMULATIVE             0           0          36
ULTIMATE               0           0         167	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0        21,110            0        21,110           0         633        20,477
2004                0           0        19,007            0        19,007           0         571        18,436
2005                0           0        17,208            0        17,208           0         516        16,692
2006                0           0        15,655            0        15,655           0         469        15,186
2007                0           0        14,308            0        14,308           0         430        13,878
2008                0           0        13,129            0        13,129           0         394        12,735
2009                0           0        12,093            0        12,093           0         362        11,731
2010                0           0        11,176            0        11,176           0         336        10,840
2011                0           0        10,361            0        10,361           0         310        10,051
2012                0           0         9,634            0         9,634           0         289         9,345
2013                0           0         8,982            0         8,982           0         270         8,712
2014                0           0         8,395            0         8,395           0         252         8,143
2015                0           0         7,864            0         7,864           0         236         7,628
2016                0           0         7,383            0         7,383           0         221         7,162
2017                0           0         6,945            0         6,945           0         209         6,736

SUB-TOT             0           0       183,250            0       183,250           0       5,498       177,752
REMAIN              0           0        59,154            0        59,154           0       1,774        57,380
TOTAL               0           0       242,404            0       242,404           0       7,272       235,132	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0           0           0         3,600         16,877        16,877        16,081
2004          3,600           0           0           0         3,600         14,836        31,713        12,796
2005          3,600           0           0           0         3,600         13,092        44,805        10,221
2006          3,600           0           0           0         3,600         11,586        56,391         8,188
2007          3,600           0           0           0         3,600         10,278        66,669         6,575
2008          3,600           0           0           0         3,600          9,135        75,804         5,290
2009          3,600           0           0           0         3,600          8,131        83,935         4,262
2010          3,600           0           0           0         3,600          7,240        91,175         3,435
2011          3,600           0           0           0         3,600          6,451        97,626         2,771
2012          3,600           0           0           0         3,600          5,745       103,371         2,234
2013          3,600           0           0           0         3,600          5,112       108,483         1,799
2014          3,600           0           0           0         3,600          4,543       113,026         1,447
2015          3,600           0           0           0         3,600          4,028       117,054         1,162
2016          3,600           0           0           0         3,600          3,562       120,616           930
2017          3,600           0           0           0         3,600          3,136       123,752           741

SUBTOT       54,000           0           0           0        54,000        123,752                      77,932
REMAIN       42,600           0           0           0        42,600         14,780       138,532         2,389
TOTAL        96,600           0           0           0        96,600        138,532                      80,321

  LIFE OF EVALUATION IS 26.83 YEARS.
  FINAL PRODUCTION RATE: 0.2 MMCF/MO	

TENGASCO, INC. TABLE 278
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 14-T1S-R74E PROVED
WOODROW DAVIS #1 (KNOX) SHUT-IN

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   0.500000                      0.438125                             4.22        5.00% -       307,281
FINAL   -   0.500000                      0.438125                             4.22       10.00% -       233,895
REMARKS -                                                                                 15.00% -       186,403
                                                                                          20.00% -       153,527
                                                                                          25.00% -       129,487	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          44               0           0          19.482       0.00     4.22
2005     1             0           0          30               0           0          12.988       0.00     4.22
2006     1             0           0          23               0           0          10.145       0.00     4.22
2007     1             0           0          20               0           0           8.481       0.00     4.22
2008     1             0           0          16               0           0           7.367       0.00     4.22
2009     1             0           0          15               0           0           6.560       0.00     4.22
2010     1             0           0          14               0           0           5.943       0.00     4.22
2011     1             0           0          12               0           0           5.453       0.00     4.22
2012     1             0           0          12               0           0           5.053       0.00     4.22
2013     1             0           0          11               0           0           4.720       0.00     4.22
2014     1             0           0          10               0           0           4.436       0.00     4.22
2015     1             0           0           9               0           0           4.192       0.00     4.22
2016     1             0           0           9               0           0           3.977       0.00     4.22
2017     1             0           0           9               0           0           3.778       0.00     4.22

SUB-TOTAL              0           0         234               0           0         102.575       0.00     4.22
REMAINDER              0           0          47               0           0          20.538       0.00     4.22
TOTAL                  0           0         281               0           0         123.113       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         281	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        82,213            0        82,213           0       2,466        79,747
2005                0           0        54,808            0        54,808           0       1,645        53,163
2006                0           0        42,812            0        42,812           0       1,284        41,528
2007                0           0        35,791            0        35,791           0       1,074        34,717
2008                0           0        31,089            0        31,089           0         932        30,157
2009                0           0        27,683            0        27,683           0         831        26,852
2010                0           0        25,078            0        25,078           0         752        24,326
2011                0           0        23,012            0        23,012           0         691        22,321
2012                0           0        21,325            0        21,325           0         639        20,686
2013                0           0        19,917            0        19,917           0         598        19,319
2014                0           0        18,721            0        18,721           0         561        18,160
2015                0           0        17,689            0        17,689           0         531        17,158
2016                0           0        16,783            0        16,783           0         504        16,279
2017                0           0        15,945            0        15,945           0         478        15,467

SUB-TOT             0           0       432,866            0       432,866           0      12,986       419,880
REMAIN              0           0        86,671            0        86,671           0       2,600        84,071
TOTAL               0           0       519,537            0       519,537           0      15,586       503,951	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0           0           0         3,600         76,147        76,147        65,916
2005          3,600           0           0           0         3,600         49,563       125,710        38,756
2006          3,600           0           0           0         3,600         37,928       163,638        26,827
2007          3,600           0           0           0         3,600         31,117       194,755        19,915
2008          3,600           0           0           0         3,600         26,557       221,312        15,381
2009          3,600           0           0           0         3,600         23,252       244,564        12,189
2010          3,600           0           0           0         3,600         20,726       265,290         9,834
2011          3,600           0           0           0         3,600         18,721       284,011         8,039
2012          3,600           0           0           0         3,600         17,086       301,097         6,642
2013          3,600           0           0           0         3,600         15,719       316,816         5,530
2014          3,600           0           0           0         3,600         14,560       331,376         4,637
2015          3,600           0           0           0         3,600         13,558       344,934         3,909
2016          3,600           0           0           0         3,600         12,679       357,613         3,308
2017          3,600           0           0           0         3,600         11,867       369,480         2,803

SUBTOT       50,400           0           0           0        50,400        369,480                     223,686
REMAIN       23,653           0           0           0        23,653         60,418       429,898        10,209
TOTAL        74,053           0           0           0        74,053        429,898                     233,895

  LIFE OF EVALUATION IS 21.57 YEARS.
  FINAL PRODUCTION RATE: 0.5 MMCF/MO	

TENGASCO, INC. TABLE 279
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 4 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,209,355
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       974,545
REMARKS -                                                                                 15.00% -       803,217
                                                                                          20.00% -       674,518
                                                                                          25.00% -       575,227	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0          52               0           0          45.425       0.00     4.22
2004     1             0           0         107               0           0          93.452       0.00     4.22
2005     1             0           0          63               0           0          55.703       0.00     4.22
2006     1             0           0          48               0           0          42.052       0.00     4.22
2007     1             0           0          40               0           0          34.565       0.00     4.22
2008     1             0           0          34               0           0          29.721       0.00     4.22
2009     1             0           0          30               0           0          26.284       0.00     4.22
2010     1             0           0          27               0           0          23.696       0.00     4.22
2011     1             0           0          25               0           0          21.664       0.00     4.22
2012     1             0           0          23               0           0          20.018       0.00     4.22
2013     1             0           0          21               0           0          18.653       0.00     4.22
2014     1             0           0          20               0           0          17.500       0.00     4.22
2015     1             0           0          19               0           0          16.510       0.00     4.22
2016     1             0           0           2               0           0           1.883       0.00     4.22
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         511               0           0         447.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         511               0           0         447.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         511	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       191,692            0       191,692           0       5,751       185,941
2004                0           0       394,368            0       394,368           0      11,831       382,537
2005                0           0       235,069            0       235,069           0       7,052       228,017
2006                0           0       177,458            0       177,458           0       5,324       172,134
2007                0           0       145,863            0       145,863           0       4,375       141,488
2008                0           0       125,421            0       125,421           0       3,763       121,658
2009                0           0       110,917            0       110,917           0       3,328       107,589
2010                0           0        99,996            0        99,996           0       3,000        96,996
2011                0           0        91,420            0        91,420           0       2,742        88,678
2012                0           0        84,476            0        84,476           0       2,534        81,942
2013                0           0        78,718            0        78,718           0       2,362        76,356
2014                0           0        73,850            0        73,850           0       2,215        71,635
2015                0           0        69,672            0        69,672           0       2,091        67,581
2016                0           0         7,947            0         7,947           0         238         7,709
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,886,867            0     1,886,867           0      56,606     1,830,261
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,886,867            0     1,886,867           0      56,606     1,830,261	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,800           0     200,000           0       201,800        -15,859       -15,859       -15,901
2004          7,200           0           0           0         7,200        375,337       359,478       325,421
2005          7,200           0           0           0         7,200        220,817       580,295       172,727
2006          7,200           0           0           0         7,200        164,934       745,229       116,671
2007          7,200           0           0           0         7,200        134,288       879,517        85,947
2008          7,200           0           0           0         7,200        114,458       993,975        66,292
2009          7,200           0           0           0         7,200        100,389     1,094,364        52,623
2010          7,200           0           0           0         7,200         89,796     1,184,160        42,602
2011          7,200           0           0           0         7,200         81,478     1,265,638        34,988
2012          7,200           0           0           0         7,200         74,742     1,340,380        29,052
2013          7,200           0           0           0         7,200         69,156     1,409,536        24,330
2014          7,200           0           0           0         7,200         64,435     1,473,971        20,520
2015          7,200           0           0           0         7,200         60,381     1,534,352        17,405
2016            847           0           0           0           847          6,862     1,541,214         1,868
2017              0           0           0           0             0              0     1,541,214             0

SUBTOT       89,047           0     200,000           0       289,047      1,541,214                     974,545
REMAIN            0           0           0           0             0              0     1,541,214             0
TOTAL        89,047           0     200,000           0       289,047      1,541,214                     974,545

  LIFE OF EVALUATION IS 13.12 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 280
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 5 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     2,245,413
FINAL   -   1.000000                      0.875000                             4.22       10.00% -     1,754,737
REMARKS -                                                                                 15.00% -     1,438,836
                                                                                          20.00% -     1,219,840
                                                                                          25.00% -     1,058,607	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0         144               0           0         126.233       0.00     4.22
2004     1             0           0         135               0           0         117.998       0.00     4.22
2005     1             0           0          86               0           0          75.506       0.00     4.22
2006     1             0           0          67               0           0          58.181       0.00     4.22
2007     1             0           0          55               0           0          48.303       0.00     4.22
2008     1             0           0          48               0           0          41.782       0.00     4.22
2009     1             0           0          42               0           0          37.097       0.00     4.22
2010     1             0           0          39               0           0          33.539       0.00     4.22
2011     1             0           0          35               0           0          30.728       0.00     4.22
2012     1             0           0          32               0           0          28.441       0.00     4.22
2013     1             0           0          31               0           0          26.537       0.00     4.22
2014     1             0           0          28               0           0          24.923       0.00     4.22
2015     1             0           0          27               0           0          23.534       0.00     4.22
2016     1             0           0          25               0           0          22.324       0.00     4.22
2017     1             0           0          25               0           0          21.258       0.00     4.22

SUB-TOTAL              0           0         819               0           0         716.384       0.00     4.22
REMAINDER              0           0         138               0           0         120.992       0.00     4.22
TOTAL                  0           0         957               0           0         837.376       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         957	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       532,705            0       532,705           0      15,981       516,724
2004                0           0       497,952            0       497,952           0      14,939       483,013
2005                0           0       318,635            0       318,635           0       9,559       309,076
2006                0           0       245,524            0       245,524           0       7,365       238,159
2007                0           0       203,838            0       203,838           0       6,116       197,722
2008                0           0       176,320            0       176,320           0       5,289       171,031
2009                0           0       156,549            0       156,549           0       4,697       151,852
2010                0           0       141,533            0       141,533           0       4,246       137,287
2011                0           0       129,670            0       129,670           0       3,890       125,780
2012                0           0       120,020            0       120,020           0       3,600       116,420
2013                0           0       111,985            0       111,985           0       3,360       108,625
2014                0           0       105,174            0       105,174           0       3,155       102,019
2015                0           0        99,313            0        99,313           0       2,980        96,333
2016                0           0        94,206            0        94,206           0       2,826        91,380
2017                0           0        89,709            0        89,709           0       2,691        87,018

SUB-TOT             0           0     3,023,133            0     3,023,133           0      90,694     2,932,439
REMAIN              0           0       510,587            0       510,587           0      15,318       495,269
TOTAL               0           0     3,533,720            0     3,533,720           0     106,012     3,427,708	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          3,600           0     200,000           0       203,600        313,124       313,124       288,589
2004          7,200           0           0           0         7,200        475,813       788,937       412,069
2005          7,200           0           0           0         7,200        301,876     1,090,813       236,068
2006          7,200           0           0           0         7,200        230,959     1,321,772       163,353
2007          7,200           0           0           0         7,200        190,522     1,512,294       121,927
2008          7,200           0           0           0         7,200        163,831     1,676,125        94,883
2009          7,200           0           0           0         7,200        144,652     1,820,777        75,821
2010          7,200           0           0           0         7,200        130,087     1,950,864        61,715
2011          7,200           0           0           0         7,200        118,580     2,069,444        50,919
2012          7,200           0           0           0         7,200        109,220     2,178,664        42,451
2013          7,200           0           0           0         7,200        101,425     2,280,089        35,683
2014          7,200           0           0           0         7,200         94,819     2,374,908        30,195
2015          7,200           0           0           0         7,200         89,133     2,464,041        25,693
2016          7,200           0           0           0         7,200         84,180     2,548,221        21,964
2017          7,200           0           0           0         7,200         79,818     2,628,039        18,851

SUBTOT      104,400           0     200,000           0       304,400      2,628,039                   1,680,181
REMAIN       48,095           0           0           0        48,095        447,174     3,075,213        74,556
TOTAL       152,495           0     200,000           0       352,495      3,075,213                   1,754,737

  LIFE OF EVALUATION IS 21.68 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 281
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 8 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     3,105,654
FINAL   -   1.000000                      0.875000                             4.22       10.00% -     2,316,318
REMARKS -                                                                                 15.00% -     1,847,130
                                                                                          20.00% -     1,535,298
                                                                                          25.00% -     1,310,716	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003     1             0           0         100               0           0          87.804       0.00     4.22
2004     1             0           0         208               0           0         181.646       0.00     4.22
2005     1             0           0         124               0           0         108.492       0.00     4.22
2006     1             0           0          94               0           0          81.946       0.00     4.22
2007     1             0           0          77               0           0          67.373       0.00     4.22
2008     1             0           0          66               0           0          57.940       0.00     4.22
2009     1             0           0          58               0           0          51.245       0.00     4.22
2010     1             0           0          53               0           0          46.202       0.00     4.22
2011     1             0           0          48               0           0          42.242       0.00     4.22
2012     1             0           0          45               0           0          39.035       0.00     4.22
2013     1             0           0          42               0           0          36.375       0.00     4.22
2014     1             0           0          39               0           0          34.127       0.00     4.22
2015     1             0           0          36               0           0          32.197       0.00     4.22
2016     1             0           0          35               0           0          30.518       0.00     4.22
2017     1             0           0          33               0           0          29.043       0.00     4.22

SUB-TOTAL              0           0       1,058               0           0         926.185       0.00     4.22
REMAINDER              0           0         350               0           0         305.814       0.00     4.22
TOTAL                  0           0       1,408               0           0       1,231.999       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0       1,408	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0       370,535            0       370,535           0      11,116       359,419
2004                0           0       766,546            0       766,546           0      22,996       743,550
2005                0           0       457,834            0       457,834           0      13,735       444,099
2006                0           0       345,813            0       345,813           0      10,375       335,438
2007                0           0       284,315            0       284,315           0       8,529       275,786
2008                0           0       244,507            0       244,507           0       7,336       237,171
2009                0           0       216,253            0       216,253           0       6,487       209,766
2010                0           0       194,972            0       194,972           0       5,849       189,123
2011                0           0       178,262            0       178,262           0       5,348       172,914
2012                0           0       164,729            0       164,729           0       4,942       159,787
2013                0           0       153,505            0       153,505           0       4,605       148,900
2014                0           0       144,016            0       144,016           0       4,321       139,695
2015                0           0       135,871            0       135,871           0       4,076       131,795
2016                0           0       128,787            0       128,787           0       3,863       124,924
2017                0           0       122,562            0       122,562           0       3,677       118,885

SUB-TOT             0           0     3,908,507            0     3,908,507           0     117,255     3,791,252
REMAIN              0           0     1,290,533            0     1,290,533           0      38,716     1,251,817
TOTAL               0           0     5,199,040            0     5,199,040           0     155,971     5,043,069	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003          1,800           0     200,000           0       201,800        157,619       157,619       143,249
2004          7,200           0           0           0         7,200        736,350       893,969       638,364
2005          7,200           0           0           0         7,200        436,899     1,330,868       341,733
2006          7,200           0           0           0         7,200        328,238     1,659,106       232,178
2007          7,200           0           0           0         7,200        268,586     1,927,692       171,893
2008          7,200           0           0           0         7,200        229,971     2,157,663       133,191
2009          7,200           0           0           0         7,200        202,566     2,360,229       106,179
2010          7,200           0           0           0         7,200        181,923     2,542,152        86,308
2011          7,200           0           0           0         7,200        165,714     2,707,866        71,159
2012          7,200           0           0           0         7,200        152,587     2,860,453        59,307
2013          7,200           0           0           0         7,200        141,700     3,002,153        49,851
2014          7,200           0           0           0         7,200        132,495     3,134,648        42,193
2015          7,200           0           0           0         7,200        124,595     3,259,243        35,915
2016          7,200           0           0           0         7,200        117,724     3,376,967        30,716
2017          7,200           0           0           0         7,200        111,685     3,488,652        26,378

SUBTOT      102,600           0     200,000           0       302,600      3,488,652                   2,168,614
REMAIN      102,927           0           0           0       102,927      1,148,890     4,637,542       147,704
TOTAL       205,527           0     200,000           0       405,527      4,637,542                   2,316,318

  LIFE OF EVALUATION IS 29.30 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 282
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #12 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       530,231
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       428,710
REMARKS -                                                                                 15.00% -       349,162
                                                                                          20.00% -       286,234
                                                                                          25.00% -       236,000	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          68               0           0          59.188       0.00     4.22
2005     1             0           0          48               0           0          42.459       0.00     4.22
2006     1             0           0          36               0           0          31.263       0.00     4.22
2007     1             0           0          29               0           0          25.403       0.00     4.22
2008     1             0           0          25               0           0          21.698       0.00     4.22
2009     1             0           0          22               0           0          19.105       0.00     4.22
2010     1             0           0          19               0           0          17.171       0.00     4.22
2011     1             0           0           8               0           0           6.839       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       249,772            0       249,772           0       7,493       242,279
2005                0           0       179,176            0       179,176           0       5,375       173,801
2006                0           0       131,932            0       131,932           0       3,958       127,974
2007                0           0       107,200            0       107,200           0       3,216       103,984
2008                0           0        91,564            0        91,564           0       2,747        88,817
2009                0           0        80,622            0        80,622           0       2,419        78,203
2010                0           0        72,460            0        72,460           0       2,174        70,286
2011                0           0        28,861            0        28,861           0         866        27,995
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,000           0     200,000           0       206,000         36,279        36,279        25,519
2005          7,200           0           0           0         7,200        166,601       202,880       130,364
2006          7,200           0           0           0         7,200        120,774       323,654        85,447
2007          7,200           0           0           0         7,200         96,784       420,438        61,949
2008          7,200           0           0           0         7,200         81,617       502,055        47,275
2009          7,200           0           0           0         7,200         71,003       573,058        37,221
2010          7,200           0           0           0         7,200         63,086       636,144        29,932
2011          3,068           0           0           0         3,068         24,927       661,071        11,003
2012              0           0           0           0             0              0       661,071             0
2013              0           0           0           0             0              0       661,071             0
2014              0           0           0           0             0              0       661,071             0
2015              0           0           0           0             0              0       661,071             0
2016              0           0           0           0             0              0       661,071             0
2017              0           0           0           0             0              0       661,071             0

SUBTOT       52,268           0     200,000           0       252,268        661,071                     428,710
REMAIN            0           0           0           0             0              0       661,071             0
TOTAL        52,268           0     200,000           0       252,268        661,071                     428,710

  LIFE OF EVALUATION IS 8.43 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 283
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #13 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       530,231
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       428,710
REMARKS -                                                                                 15.00% -       349,162
                                                                                          20.00% -       286,234
                                                                                          25.00% -       236,000	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          68               0           0          59.188       0.00     4.22
2005     1             0           0          48               0           0          42.459       0.00     4.22
2006     1             0           0          36               0           0          31.263       0.00     4.22
2007     1             0           0          29               0           0          25.403       0.00     4.22
2008     1             0           0          25               0           0          21.698       0.00     4.22
2009     1             0           0          22               0           0          19.105       0.00     4.22
2010     1             0           0          19               0           0          17.171       0.00     4.22
2011     1             0           0           8               0           0           6.839       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       249,772            0       249,772           0       7,493       242,279
2005                0           0       179,176            0       179,176           0       5,375       173,801
2006                0           0       131,932            0       131,932           0       3,958       127,974
2007                0           0       107,200            0       107,200           0       3,216       103,984
2008                0           0        91,564            0        91,564           0       2,747        88,817
2009                0           0        80,622            0        80,622           0       2,419        78,203
2010                0           0        72,460            0        72,460           0       2,174        70,286
2011                0           0        28,861            0        28,861           0         866        27,995
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,000           0     200,000           0       206,000         36,279        36,279        25,519
2005          7,200           0           0           0         7,200        166,601       202,880       130,364
2006          7,200           0           0           0         7,200        120,774       323,654        85,447
2007          7,200           0           0           0         7,200         96,784       420,438        61,949
2008          7,200           0           0           0         7,200         81,617       502,055        47,275
2009          7,200           0           0           0         7,200         71,003       573,058        37,221
2010          7,200           0           0           0         7,200         63,086       636,144        29,932
2011          3,068           0           0           0         3,068         24,927       661,071        11,003
2012              0           0           0           0             0              0       661,071             0
2013              0           0           0           0             0              0       661,071             0
2014              0           0           0           0             0              0       661,071             0
2015              0           0           0           0             0              0       661,071             0
2016              0           0           0           0             0              0       661,071             0
2017              0           0           0           0             0              0       661,071             0

SUBTOT       52,268           0     200,000           0       252,268        661,071                     428,710
REMAIN            0           0           0           0             0              0       661,071             0
TOTAL        52,268           0     200,000           0       252,268        661,071                     428,710

  LIFE OF EVALUATION IS 8.43 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 284
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #14 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       188,356
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       155,702
REMARKS -                                                                                 15.00% -       128,377
                                                                                          20.00% -       105,480
                                                                                          25.00% -        86,269	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          50               0           0          43.672       0.00     4.22
2005     1             0           0          33               0           0          29.387       0.00     4.22
2006     1             0           0          25               0           0          21.266       0.00     4.22
2007     1             0           0          19               0           0          16.800       0.00     4.22
2008                   0           0           0               0           0           0.000       0.00     0.00
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       184,295            0       184,295           0       5,529       178,766
2005                0           0       124,013            0       124,013           0       3,720       120,293
2006                0           0        89,741            0        89,741           0       2,692        87,049
2007                0           0        70,898            0        70,898           0       2,127        68,771
2008                0           0             0            0             0           0           0             0
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,000           0     200,000           0       206,000        -27,234       -27,234       -28,874
2005          7,200           0           0           0         7,200        113,093        85,859        88,521
2006          7,200           0           0           0         7,200         79,849       165,708        56,501
2007          7,041           0           0           0         7,041         61,730       227,438        39,554
2008              0           0           0           0             0              0       227,438             0
2009              0           0           0           0             0              0       227,438             0
2010              0           0           0           0             0              0       227,438             0
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     155,702
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     155,702

  LIFE OF EVALUATION IS 4.98 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 285
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #15 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       191,123
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       157,989
REMARKS -                                                                                 15.00% -       130,277
                                                                                          20.00% -       107,066
                                                                                          25.00% -        87,600	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          50               0           0          43.775       0.00     4.22
2005     1             0           0          34               0           0          29.508       0.00     4.22
2006     1             0           0          24               0           0          21.363       0.00     4.22
2007     1             0           0          20               0           0          17.230       0.00     4.22
2008     1             0           0           0               0           0           0.124       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       184,731            0       184,731           0       5,542       179,189
2005                0           0       124,524            0       124,524           0       3,736       120,788
2006                0           0        90,151            0        90,151           0       2,704        87,447
2007                0           0        72,710            0        72,710           0       2,181        70,529
2008                0           0           524            0           524           0          16           508
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,000           0     200,000           0       206,000        -26,811       -26,811       -28,514
2005          7,200           0           0           0         7,200        113,588        86,777        88,908
2006          7,200           0           0           0         7,200         80,247       167,024        56,782
2007          7,200           0           0           0         7,200         63,329       230,353        40,540
2008             57           0           0           0            57            451       230,804           273
2009              0           0           0           0             0              0       230,804             0
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     157,989
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     157,989

  LIFE OF EVALUATION IS 5.01 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 286
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #16 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       426,876
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       343,848
REMARKS -                                                                                 15.00% -       278,290
                                                                                          20.00% -       226,185
                                                                                          25.00% -       184,511	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          44               0           0          38.689       0.00     4.22
2005     1             0           0          52               0           0          45.655       0.00     4.22
2006     1             0           0          36               0           0          31.208       0.00     4.22
2007     1             0           0          28               0           0          24.598       0.00     4.22
2008     1             0           0          24               0           0          20.661       0.00     4.22
2009     1             0           0          20               0           0          18.000       0.00     4.22
2010     1             0           0          13               0           0          11.063       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         217               0           0         189.874       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         217               0           0         189.874       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         217	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       163,267            0       163,267           0       4,898       158,369
2005                0           0       192,666            0       192,666           0       5,780       186,886
2006                0           0       131,696            0       131,696           0       3,951       127,745
2007                0           0       103,803            0       103,803           0       3,114       100,689
2008                0           0        87,192            0        87,192           0       2,616        84,576
2009                0           0        75,961            0        75,961           0       2,279        73,682
2010                0           0        46,687            0        46,687           0       1,400        45,287
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       801,272            0       801,272           0      24,038       777,234
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       801,272            0       801,272           0      24,038       777,234	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0     200,000           0       203,600        -45,231       -45,231       -41,210
2005          7,200           0           0           0         7,200        179,686       134,455       140,744
2006          7,200           0           0           0         7,200        120,545       255,000        85,315
2007          7,200           0           0           0         7,200         93,489       348,489        59,853
2008          7,200           0           0           0         7,200         77,376       425,865        44,824
2009          7,200           0           0           0         7,200         66,482       492,347        34,854
2010          4,879           0           0           0         4,879         40,408       532,755        19,468
2011              0           0           0           0             0              0       532,755             0
2012              0           0           0           0             0              0       532,755             0
2013              0           0           0           0             0              0       532,755             0
2014              0           0           0           0             0              0       532,755             0
2015              0           0           0           0             0              0       532,755             0
2016              0           0           0           0             0              0       532,755             0
2017              0           0           0           0             0              0       532,755             0

SUBTOT       44,479           0     200,000           0       244,479        532,755                     343,848
REMAIN            0           0           0           0             0              0       532,755             0
TOTAL        44,479           0     200,000           0       244,479        532,755                     343,848

  LIFE OF EVALUATION IS 7.68 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 287
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #17 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       824,192
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       632,540
REMARKS -                                                                                 15.00% -       493,823
                                                                                          20.00% -       391,284
                                                                                          25.00% -       313,994	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          53               0           0          46.080       0.00     4.22
2005     1             0           0          68               0           0          59.781       0.00     4.22
2006     1             0           0          49               0           0          42.477       0.00     4.22
2007     1             0           0          38               0           0          33.992       0.00     4.22
2008     1             0           0          33               0           0          28.786       0.00     4.22
2009     1             0           0          29               0           0          25.208       0.00     4.22
2010     1             0           0          26               0           0          22.569       0.00     4.22
2011     1             0           0          23               0           0          20.528       0.00     4.22
2012     1             0           0          22               0           0          18.895       0.00     4.22
2013     1             0           0          20               0           0          17.552       0.00     4.22
2014     1             0           0          19               0           0          16.424       0.00     4.22
2015     1             0           0           3               0           0           2.832       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         383               0           0         335.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         383               0           0         335.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         383	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       194,460            0       194,460           0       5,834       188,626
2005                0           0       252,276            0       252,276           0       7,568       244,708
2006                0           0       179,254            0       179,254           0       5,378       173,876
2007                0           0       143,446            0       143,446           0       4,303       139,143
2008                0           0       121,478            0       121,478           0       3,644       117,834
2009                0           0       106,376            0       106,376           0       3,192       103,184
2010                0           0        95,241            0        95,241           0       2,857        92,384
2011                0           0        86,630            0        86,630           0       2,599        84,031
2012                0           0        79,735            0        79,735           0       2,392        77,343
2013                0           0        74,068            0        74,068           0       2,222        71,846
2014                0           0        69,311            0        69,311           0       2,079        67,232
2015                0           0        11,953            0        11,953           0         359        11,594
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,414,228            0     1,414,228           0      42,427     1,371,801
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,414,228            0     1,414,228           0      42,427     1,371,801	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0     200,000           0       203,600        -14,974       -14,974       -15,818
2005          7,200           0           0           0         7,200        237,508       222,534       185,928
2006          7,200           0           0           0         7,200        166,676       389,210       117,939
2007          7,200           0           0           0         7,200        131,943       521,153        84,460
2008          7,200           0           0           0         7,200        110,634       631,787        64,085
2009          7,200           0           0           0         7,200         95,984       727,771        50,317
2010          7,200           0           0           0         7,200         85,184       812,955        40,416
2011          7,200           0           0           0         7,200         76,831       889,786        32,995
2012          7,200           0           0           0         7,200         70,143       959,929        27,264
2013          7,200           0           0           0         7,200         64,646     1,024,575        22,745
2014          7,200           0           0           0         7,200         60,032     1,084,607        19,118
2015          1,288           0           0           0         1,288         10,306     1,094,913         3,091
2016              0           0           0           0             0              0     1,094,913             0
2017              0           0           0           0             0              0     1,094,913             0

SUBTOT       76,888           0     200,000           0       276,888      1,094,913                     632,540
REMAIN            0           0           0           0             0              0     1,094,913             0
TOTAL        76,888           0     200,000           0       276,888      1,094,913                     632,540

  LIFE OF EVALUATION IS 12.18 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 288
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #19 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       525,410
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       420,244
REMARKS -                                                                                 15.00% -       338,581
                                                                                          20.00% -       274,583
                                                                                          25.00% -       223,987	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          49               0           0          42.457       0.00     4.22
2005     1             0           0          57               0           0          49.972       0.00     4.22
2006     1             0           0          39               0           0          34.126       0.00     4.22
2007     1             0           0          30               0           0          26.889       0.00     4.22
2008     1             0           0          26               0           0          22.582       0.00     4.22
2009     1             0           0          23               0           0          19.671       0.00     4.22
2010     1             0           0          20               0           0          17.548       0.00     4.22
2011     1             0           0          11               0           0           9.880       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       179,167            0       179,167           0       5,375       173,792
2005                0           0       210,883            0       210,883           0       6,327       204,556
2006                0           0       144,012            0       144,012           0       4,320       139,692
2007                0           0       113,472            0       113,472           0       3,404       110,068
2008                0           0        95,294            0        95,294           0       2,859        92,435
2009                0           0        83,011            0        83,011           0       2,490        80,521
2010                0           0        74,054            0        74,054           0       2,222        71,832
2011                0           0        41,694            0        41,694           0       1,251        40,443
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0     200,000           0       203,600        -29,808       -29,808       -28,221
2005          7,200           0           0           0         7,200        197,356       167,548       154,584
2006          7,200           0           0           0         7,200        132,492       300,040        93,770
2007          7,200           0           0           0         7,200        102,868       402,908        65,856
2008          7,200           0           0           0         7,200         85,235       488,143        49,377
2009          7,200           0           0           0         7,200         73,321       561,464        38,439
2010          7,200           0           0           0         7,200         64,632       626,096        30,667
2011          4,392           0           0           0         4,392         36,051       662,147        15,772
2012              0           0           0           0             0              0       662,147             0
2013              0           0           0           0             0              0       662,147             0
2014              0           0           0           0             0              0       662,147             0
2015              0           0           0           0             0              0       662,147             0
2016              0           0           0           0             0              0       662,147             0
2017              0           0           0           0             0              0       662,147             0

SUBTOT       51,192           0     200,000           0       251,192        662,147                     420,244
REMAIN            0           0           0           0             0              0       662,147             0
TOTAL        51,192           0     200,000           0       251,192        662,147                     420,244

  LIFE OF EVALUATION IS 8.61 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 289
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #20 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       525,410
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       420,244
REMARKS -                                                                                 15.00% -       338,581
                                                                                          20.00% -       274,583
                                                                                          25.00% -       223,987	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          49               0           0          42.457       0.00     4.22
2005     1             0           0          57               0           0          49.972       0.00     4.22
2006     1             0           0          39               0           0          34.126       0.00     4.22
2007     1             0           0          30               0           0          26.889       0.00     4.22
2008     1             0           0          26               0           0          22.582       0.00     4.22
2009     1             0           0          23               0           0          19.671       0.00     4.22
2010     1             0           0          20               0           0          17.548       0.00     4.22
2011     1             0           0          11               0           0           9.880       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       179,167            0       179,167           0       5,375       173,792
2005                0           0       210,883            0       210,883           0       6,327       204,556
2006                0           0       144,012            0       144,012           0       4,320       139,692
2007                0           0       113,472            0       113,472           0       3,404       110,068
2008                0           0        95,294            0        95,294           0       2,859        92,435
2009                0           0        83,011            0        83,011           0       2,490        80,521
2010                0           0        74,054            0        74,054           0       2,222        71,832
2011                0           0        41,694            0        41,694           0       1,251        40,443
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0     200,000           0       203,600        -29,808       -29,808       -28,221
2005          7,200           0           0           0         7,200        197,356       167,548       154,584
2006          7,200           0           0           0         7,200        132,492       300,040        93,770
2007          7,200           0           0           0         7,200        102,868       402,908        65,856
2008          7,200           0           0           0         7,200         85,235       488,143        49,377
2009          7,200           0           0           0         7,200         73,321       561,464        38,439
2010          7,200           0           0           0         7,200         64,632       626,096        30,667
2011          4,392           0           0           0         4,392         36,051       662,147        15,772
2012              0           0           0           0             0              0       662,147             0
2013              0           0           0           0             0              0       662,147             0
2014              0           0           0           0             0              0       662,147             0
2015              0           0           0           0             0              0       662,147             0
2016              0           0           0           0             0              0       662,147             0
2017              0           0           0           0             0              0       662,147             0

SUBTOT       51,192           0     200,000           0       251,192        662,147                     420,244
REMAIN            0           0           0           0             0              0       662,147             0
TOTAL        51,192           0     200,000           0       251,192        662,147                     420,244

  LIFE OF EVALUATION IS 8.61 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 290
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #24 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       187,971
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       152,831
REMARKS -                                                                                 15.00% -       123,962
                                                                                          20.00% -       100,216
                                                                                          25.00% -        80,665	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          34               0           0          30.136       0.00     4.22
2005     1             0           0          40               0           0          34.571       0.00     4.22
2006     1             0           0          27               0           0          23.394       0.00     4.22
2007     1             0           0          21               0           0          18.372       0.00     4.22
2008     1             0           0           6               0           0           5.527       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       127,173            0       127,173           0       3,815       123,358
2005                0           0       145,889            0       145,889           0       4,377       141,512
2006                0           0        98,724            0        98,724           0       2,962        95,762
2007                0           0        77,529            0        77,529           0       2,325        75,204
2008                0           0        23,325            0        23,325           0         700        22,625
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          3,600           0     200,000           0       203,600        -80,242       -80,242       -70,672
2005          7,200           0           0           0         7,200        134,312        54,070       105,225
2006          7,200           0           0           0         7,200         88,562       142,632        62,685
2007          7,200           0           0           0         7,200         68,004       210,636        43,540
2008          2,457           0           0           0         2,457         20,168       230,804        12,053
2009              0           0           0           0             0              0       230,804             0
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     152,831
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     152,831

  LIFE OF EVALUATION IS 5.34 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 291
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #25 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       185,641
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       149,073
REMARKS -                                                                                 15.00% -       119,427
                                                                                          20.00% -        95,367
                                                                                          25.00% -        75,826	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          20               0           0          17.276       0.00     4.22
2005     1             0           0          46               0           0          40.290       0.00     4.22
2006     1             0           0          29               0           0          25.282       0.00     4.22
2007     1             0           0          22               0           0          19.364       0.00     4.22
2008     1             0           0          11               0           0           9.789       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        72,904            0        72,904           0       2,187        70,717
2005                0           0       170,025            0       170,025           0       5,101       164,924
2006                0           0       106,688            0       106,688           0       3,201       103,487
2007                0           0        81,715            0        81,715           0       2,451        79,264
2008                0           0        41,308            0        41,308           0       1,239        40,069
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          1,800           0     200,000           0       201,800       -131,083      -131,083      -110,098
2005          7,200           0           0           0         7,200        157,724        26,641       123,703
2006          7,200           0           0           0         7,200         96,287       122,928        68,174
2007          7,200           0           0           0         7,200         72,064       194,992        46,146
2008          4,257           0           0           0         4,257         35,812       230,804        21,148
2009              0           0           0           0             0              0       230,804             0
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     149,073
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     149,073

  LIFE OF EVALUATION IS 5.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 292
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #26 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       185,641
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       149,073
REMARKS -                                                                                 15.00% -       119,427
                                                                                          20.00% -        95,367
                                                                                          25.00% -        75,826	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          20               0           0          17.276       0.00     4.22
2005     1             0           0          46               0           0          40.290       0.00     4.22
2006     1             0           0          29               0           0          25.282       0.00     4.22
2007     1             0           0          22               0           0          19.364       0.00     4.22
2008     1             0           0          11               0           0           9.789       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        72,904            0        72,904           0       2,187        70,717
2005                0           0       170,025            0       170,025           0       5,101       164,924
2006                0           0       106,688            0       106,688           0       3,201       103,487
2007                0           0        81,715            0        81,715           0       2,451        79,264
2008                0           0        41,308            0        41,308           0       1,239        40,069
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          1,800           0     200,000           0       201,800       -131,083      -131,083      -110,098
2005          7,200           0           0           0         7,200        157,724        26,641       123,703
2006          7,200           0           0           0         7,200         96,287       122,928        68,174
2007          7,200           0           0           0         7,200         72,064       194,992        46,146
2008          4,257           0           0           0         4,257         35,812       230,804        21,148
2009              0           0           0           0             0              0       230,804             0
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     149,073
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     149,073

  LIFE OF EVALUATION IS 5.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 293
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #27 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       217,661
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       174,604
REMARKS -                                                                                 15.00% -       139,902
                                                                                          20.00% -       111,886
                                                                                          25.00% -        89,232	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          20               0           0          17.516       0.00     4.22
2005     1             0           0          48               0           0          41.848       0.00     4.22
2006     1             0           0          30               0           0          26.560       0.00     4.22
2007     1             0           0          24               0           0          20.414       0.00     4.22
2008     1             0           0          18               0           0          16.162       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         140               0           0         122.500       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         140               0           0         122.500       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         140	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        73,917            0        73,917           0       2,218        71,699
2005                0           0       176,598            0       176,598           0       5,297       171,301
2006                0           0       112,084            0       112,084           0       3,363       108,721
2007                0           0        86,146            0        86,146           0       2,584        83,562
2008                0           0        68,205            0        68,205           0       2,046        66,159
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       516,950            0       516,950           0      15,508       501,442
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       516,950            0       516,950           0      15,508       501,442	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          1,800           0     200,000           0       201,800       -130,101      -130,101      -109,285
2005          7,200           0           0           0         7,200        164,101        34,000       128,680
2006          7,200           0           0           0         7,200        101,521       135,521        71,876
2007          7,200           0           0           0         7,200         76,362       211,883        48,896
2008          6,850           0           0           0         6,850         59,309       271,192        34,437
2009              0           0           0           0             0              0       271,192             0
2010              0           0           0           0             0              0       271,192             0
2011              0           0           0           0             0              0       271,192             0
2012              0           0           0           0             0              0       271,192             0
2013              0           0           0           0             0              0       271,192             0
2014              0           0           0           0             0              0       271,192             0
2015              0           0           0           0             0              0       271,192             0
2016              0           0           0           0             0              0       271,192             0
2017              0           0           0           0             0              0       271,192             0

SUBTOT       30,250           0     200,000           0       230,250        271,192                     174,604
REMAIN            0           0           0           0             0              0       271,192             0
TOTAL        30,250           0     200,000           0       230,250        271,192                     174,604

  LIFE OF EVALUATION IS 5.95 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 294
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #29 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       185,641
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       149,073
REMARKS -                                                                                 15.00% -       119,427
                                                                                          20.00% -        95,367
                                                                                          25.00% -        75,826	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          20               0           0          17.276       0.00     4.22
2005     1             0           0          46               0           0          40.290       0.00     4.22
2006     1             0           0          29               0           0          25.282       0.00     4.22
2007     1             0           0          22               0           0          19.364       0.00     4.22
2008     1             0           0          11               0           0           9.789       0.00     4.22
2009                   0           0           0               0           0           0.000       0.00     0.00
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0        72,904            0        72,904           0       2,187        70,717
2005                0           0       170,025            0       170,025           0       5,101       164,924
2006                0           0       106,688            0       106,688           0       3,201       103,487
2007                0           0        81,715            0        81,715           0       2,451        79,264
2008                0           0        41,308            0        41,308           0       1,239        40,069
2009                0           0             0            0             0           0           0             0
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          1,800           0     200,000           0       201,800       -131,083      -131,083      -110,098
2005          7,200           0           0           0         7,200        157,724        26,641       123,703
2006          7,200           0           0           0         7,200         96,287       122,928        68,174
2007          7,200           0           0           0         7,200         72,064       194,992        46,146
2008          4,257           0           0           0         4,257         35,812       230,804        21,148
2009              0           0           0           0             0              0       230,804             0
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     149,073
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     149,073

  LIFE OF EVALUATION IS 5.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 295
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #32 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       368,693
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       306,017
REMARKS -                                                                                 15.00% -       254,790
                                                                                          20.00% -       212,717
                                                                                          25.00% -       178,000	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004     1             0           0          65               0           0          56.839       0.00     4.22
2005     1             0           0          42               0           0          36.777       0.00     4.22
2006     1             0           0          30               0           0          26.367       0.00     4.22
2007     1             0           0          24               0           0          21.179       0.00     4.22
2008     1             0           0          21               0           0          17.972       0.00     4.22
2009     1             0           0           9               0           0           7.990       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0       239,861            0       239,861           0       7,196       232,665
2005                0           0       155,201            0       155,201           0       4,656       150,545
2006                0           0       111,270            0       111,270           0       3,338       107,932
2007                0           0        89,374            0        89,374           0       2,681        86,693
2008                0           0        75,843            0        75,843           0       2,275        73,568
2009                0           0        33,718            0        33,718           0       1,012        32,706
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004          6,000           0     200,000           0       206,000         26,665        26,665        17,537
2005          7,200           0           0           0         7,200        143,345       170,010       112,209
2006          7,200           0           0           0         7,200        100,732       270,742        71,278
2007          7,200           0           0           0         7,200         79,493       350,235        50,887
2008          7,200           0           0           0         7,200         66,368       416,603        38,445
2009          3,544           0           0           0         3,544         29,162       445,765        15,661
2010              0           0           0           0             0              0       445,765             0
2011              0           0           0           0             0              0       445,765             0
2012              0           0           0           0             0              0       445,765             0
2013              0           0           0           0             0              0       445,765             0
2014              0           0           0           0             0              0       445,765             0
2015              0           0           0           0             0              0       445,765             0
2016              0           0           0           0             0              0       445,765             0
2017              0           0           0           0             0              0       445,765             0

SUBTOT       38,344           0     200,000           0       238,344        445,765                     306,017
REMAIN            0           0           0           0             0              0       445,765             0
TOTAL        38,344           0     200,000           0       238,344        445,765                     306,017

  LIFE OF EVALUATION IS 6.49 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 296
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #33 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       884,267
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       653,151
REMARKS -                                                                                 15.00% -       492,177
                                                                                          20.00% -       377,275
                                                                                          25.00% -       293,407	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          85               0           0          74.263       0.00     4.22
2006     1             0           0          63               0           0          55.395       0.00     4.22
2007     1             0           0          47               0           0          41.284       0.00     4.22
2008     1             0           0          39               0           0          33.729       0.00     4.22
2009     1             0           0          33               0           0          28.900       0.00     4.22
2010     1             0           0          29               0           0          25.499       0.00     4.22
2011     1             0           0          26               0           0          22.951       0.00     4.22
2012     1             0           0          24               0           0          20.957       0.00     4.22
2013     1             0           0          22               0           0          19.347       0.00     4.22
2014     1             0           0          21               0           0          18.014       0.00     4.22
2015     1             0           0          19               0           0          16.890       0.00     4.22
2016     1             0           0          13               0           0          11.146       0.00     4.22
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         421               0           0         368.375       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         421               0           0         368.375       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         421	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       313,390            0       313,390           0       9,402       303,988
2006                0           0       233,766            0       233,766           0       7,013       226,753
2007                0           0       174,217            0       174,217           0       5,226       168,991
2008                0           0       142,338            0       142,338           0       4,270       138,068
2009                0           0       121,959            0       121,959           0       3,659       118,300
2010                0           0       107,607            0       107,607           0       3,228       104,379
2011                0           0        96,851            0        96,851           0       2,906        93,945
2012                0           0        88,439            0        88,439           0       2,653        85,786
2013                0           0        81,644            0        81,644           0       2,449        79,195
2014                0           0        76,021            0        76,021           0       2,281        73,740
2015                0           0        71,276            0        71,276           0       2,138        69,138
2016                0           0        47,034            0        47,034           0       1,411        45,623
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,554,542            0     1,554,542           0      46,636     1,507,906
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,554,542            0     1,554,542           0      46,636     1,507,906	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          6,000           0     200,000           0       206,000         97,988        97,988        70,938
2006          7,200           0           0           0         7,200        219,553       317,541       155,485
2007          7,200           0           0           0         7,200        161,791       479,332       103,606
2008          7,200           0           0           0         7,200        130,868       610,200        75,822
2009          7,200           0           0           0         7,200        111,100       721,300        58,250
2010          7,200           0           0           0         7,200         97,179       818,479        46,112
2011          7,200           0           0           0         7,200         86,745       905,224        37,255
2012          7,200           0           0           0         7,200         78,586       983,810        30,548
2013          7,200           0           0           0         7,200         71,995     1,055,805        25,331
2014          7,200           0           0           0         7,200         66,540     1,122,345        21,191
2015          7,200           0           0           0         7,200         61,938     1,184,283        17,855
2016          4,996           0           0           0         4,996         40,627     1,224,910        10,758
2017              0           0           0           0             0              0     1,224,910             0

SUBTOT       82,996           0     200,000           0       282,996      1,224,910                     653,151
REMAIN            0           0           0           0             0              0     1,224,910             0
TOTAL        82,996           0     200,000           0       282,996      1,224,910                     653,151

  LIFE OF EVALUATION IS 13.69 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 297
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #34 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       803,516
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       600,219
REMARKS -                                                                                 15.00% -       455,953
                                                                                          20.00% -       351,465
                                                                                          25.00% -       274,349	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          83               0           0          72.521       0.00     4.22
2006     1             0           0          60               0           0          52.963       0.00     4.22
2007     1             0           0          45               0           0          39.208       0.00     4.22
2008     1             0           0          37               0           0          31.936       0.00     4.22
2009     1             0           0          31               0           0          27.315       0.00     4.22
2010     1             0           0          27               0           0          24.073       0.00     4.22
2011     1             0           0          25               0           0          21.650       0.00     4.22
2012     1             0           0          23               0           0          19.757       0.00     4.22
2013     1             0           0          21               0           0          18.231       0.00     4.22
2014     1             0           0          19               0           0          16.969       0.00     4.22
2015     1             0           0          12               0           0          10.503       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         383               0           0         335.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         383               0           0         335.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         383	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       306,039            0       306,039           0       9,181       296,858
2006                0           0       223,503            0       223,503           0       6,705       216,798
2007                0           0       165,458            0       165,458           0       4,964       160,494
2008                0           0       134,769            0       134,769           0       4,043       130,726
2009                0           0       115,271            0       115,271           0       3,458       111,813
2010                0           0       101,588            0       101,588           0       3,048        98,540
2011                0           0        91,361            0        91,361           0       2,741        88,620
2012                0           0        83,374            0        83,374           0       2,501        80,873
2013                0           0        76,933            0        76,933           0       2,308        74,625
2014                0           0        71,608            0        71,608           0       2,148        69,460
2015                0           0        44,323            0        44,323           0       1,330        42,993
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,414,227            0     1,414,227           0      42,427     1,371,800
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,414,227            0     1,414,227           0      42,427     1,371,800	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          6,000           0     200,000           0       206,000         90,858        90,858        65,459
2006          7,200           0           0           0         7,200        209,598       300,456       148,448
2007          7,200           0           0           0         7,200        153,294       453,750        98,169
2008          7,200           0           0           0         7,200        123,526       577,276        71,570
2009          7,200           0           0           0         7,200        104,613       681,889        54,849
2010          7,200           0           0           0         7,200         91,340       773,229        43,343
2011          7,200           0           0           0         7,200         81,420       854,649        34,968
2012          7,200           0           0           0         7,200         73,673       928,322        28,638
2013          7,200           0           0           0         7,200         67,425       995,747        23,724
2014          7,200           0           0           0         7,200         62,260     1,058,007        19,828
2015          4,705           0           0           0         4,705         38,288     1,096,295        11,223
2016              0           0           0           0             0              0     1,096,295             0
2017              0           0           0           0             0              0     1,096,295             0

SUBTOT       75,505           0     200,000           0       275,505      1,096,295                     600,219
REMAIN            0           0           0           0             0              0     1,096,295             0
TOTAL        75,505           0     200,000           0       275,505      1,096,295                     600,219

  LIFE OF EVALUATION IS 12.65 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 298
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #35 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       790,263
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       580,621
REMARKS -                                                                                 15.00% -       433,851
                                                                                          20.00% -       328,979
                                                                                          25.00% -       252,630	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          56               0           0          48.834       0.00     4.22
2006     1             0           0          70               0           0          61.079       0.00     4.22
2007     1             0           0          48               0           0          42.714       0.00     4.22
2008     1             0           0          39               0           0          33.963       0.00     4.22
2009     1             0           0          33               0           0          28.662       0.00     4.22
2010     1             0           0          29               0           0          25.043       0.00     4.22
2011     1             0           0          25               0           0          22.388       0.00     4.22
2012     1             0           0          23               0           0          20.341       0.00     4.22
2013     1             0           0          22               0           0          18.706       0.00     4.22
2014     1             0           0          20               0           0          17.365       0.00     4.22
2015     1             0           0          18               0           0          16.032       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         383               0           0         335.127       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         383               0           0         335.127       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         383	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       206,078            0       206,078           0       6,182       199,896
2006                0           0       257,753            0       257,753           0       7,733       250,020
2007                0           0       180,252            0       180,252           0       5,407       174,845
2008                0           0       143,324            0       143,324           0       4,300       139,024
2009                0           0       120,951            0       120,951           0       3,629       117,322
2010                0           0       105,682            0       105,682           0       3,170       102,512
2011                0           0        94,476            0        94,476           0       2,834        91,642
2012                0           0        85,837            0        85,837           0       2,576        83,261
2013                0           0        78,939            0        78,939           0       2,368        76,571
2014                0           0        73,279            0        73,279           0       2,198        71,081
2015                0           0        67,656            0        67,656           0       2,030        65,626
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,414,227            0     1,414,227           0      42,427     1,371,800
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,414,227            0     1,414,227           0      42,427     1,371,800	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          3,600           0     200,000           0       203,600         -3,704        -3,704        -5,703
2006          7,200           0           0           0         7,200        242,820       239,116       172,105
2007          7,200           0           0           0         7,200        167,645       406,761       107,389
2008          7,200           0           0           0         7,200        131,824       538,585        76,388
2009          7,200           0           0           0         7,200        110,122       648,707        57,743
2010          7,200           0           0           0         7,200         95,312       744,019        45,230
2011          7,200           0           0           0         7,200         84,442       828,461        36,267
2012          7,200           0           0           0         7,200         76,061       904,522        29,568
2013          7,200           0           0           0         7,200         69,371       973,893        24,409
2014          7,200           0           0           0         7,200         63,881     1,037,774        20,345
2015          7,105           0           0           0         7,105         58,521     1,096,295        16,880
2016              0           0           0           0             0              0     1,096,295             0
2017              0           0           0           0             0              0     1,096,295             0

SUBTOT       75,505           0     200,000           0       275,505      1,096,295                     580,621
REMAIN            0           0           0           0             0              0     1,096,295             0
TOTAL        75,505           0     200,000           0       275,505      1,096,295                     580,621

  LIFE OF EVALUATION IS 12.99 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 299
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #36 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -     1,070,802
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       771,131
REMARKS -                                                                                 15.00% -       570,037
                                                                                          20.00% -       430,580
                                                                                          25.00% -       331,020	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          68               0           0          59.794       0.00     4.22
2006     1             0           0          84               0           0          72.972       0.00     4.22
2007     1             0           0          57               0           0          50.523       0.00     4.22
2008     1             0           0          46               0           0          40.016       0.00     4.22
2009     1             0           0          39               0           0          33.699       0.00     4.22
2010     1             0           0          33               0           0          29.406       0.00     4.22
2011     1             0           0          30               0           0          26.264       0.00     4.22
2012     1             0           0          28               0           0          23.847       0.00     4.22
2013     1             0           0          25               0           0          21.919       0.00     4.22
2014     1             0           0          23               0           0          20.340       0.00     4.22
2015     1             0           0          22               0           0          19.017       0.00     4.22
2016     1             0           0          20               0           0          17.890       0.00     4.22
2017     1             0           0          19               0           0          16.917       0.00     4.22

SUB-TOTAL              0           0         494               0           0         432.604       0.00     4.22
REMAINDER              0           0          17               0           0          14.522       0.00     4.22
TOTAL                  0           0         511               0           0         447.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         511	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       252,329            0       252,329           0       7,570       244,759
2006                0           0       307,941            0       307,941           0       9,238       298,703
2007                0           0       213,205            0       213,205           0       6,396       206,809
2008                0           0       168,868            0       168,868           0       5,066       163,802
2009                0           0       142,209            0       142,209           0       4,267       137,942
2010                0           0       124,093            0       124,093           0       3,722       120,371
2011                0           0       110,833            0       110,833           0       3,325       107,508
2012                0           0       100,634            0       100,634           0       3,019        97,615
2013                0           0        92,500            0        92,500           0       2,775        89,725
2014                0           0        85,833            0        85,833           0       2,575        83,258
2015                0           0        80,251            0        80,251           0       2,408        77,843
2016                0           0        75,498            0        75,498           0       2,265        73,233
2017                0           0        71,390            0        71,390           0       2,142        69,248

SUB-TOT             0           0     1,825,584            0     1,825,584           0      54,768     1,770,816
REMAIN              0           0        61,283            0        61,283           0       1,838        59,445
TOTAL               0           0     1,886,867            0     1,886,867           0      56,606     1,830,261	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          3,600           0     200,000           0       203,600         41,159        41,159        28,506
2006          7,200           0           0           0         7,200        291,503       332,662       206,636
2007          7,200           0           0           0         7,200        199,609       532,271       127,867
2008          7,200           0           0           0         7,200        156,602       688,873        90,747
2009          7,200           0           0           0         7,200        130,742       819,615        68,556
2010          7,200           0           0           0         7,200        113,171       932,786        53,704
2011          7,200           0           0           0         7,200        100,308     1,033,094        43,082
2012          7,200           0           0           0         7,200         90,415     1,123,509        35,147
2013          7,200           0           0           0         7,200         82,525     1,206,034        29,037
2014          7,200           0           0           0         7,200         76,058     1,282,092        24,223
2015          7,200           0           0           0         7,200         70,643     1,352,735        20,365
2016          7,200           0           0           0         7,200         66,033     1,418,768        17,231
2017          7,200           0           0           0         7,200         62,048     1,480,816        14,655

SUBTOT       90,000           0     200,000           0       290,000      1,480,816                     759,756
REMAIN        6,492           0           0           0         6,492         52,953     1,533,769        11,375
TOTAL        96,492           0     200,000           0       296,492      1,533,769                     771,131

  LIFE OF EVALUATION IS 15.90 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 300
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #38 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       640,630
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       474,353
REMARKS -                                                                                 15.00% -       355,612
                                                                                          20.00% -       269,542
                                                                                          25.00% -       206,279	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          48               0           0          41.810       0.00     4.22
2006     1             0           0          62               0           0          54.103       0.00     4.22
2007     1             0           0          43               0           0          38.399       0.00     4.22
2008     1             0           0          36               0           0          30.714       0.00     4.22
2009     1             0           0          29               0           0          26.004       0.00     4.22
2010     1             0           0          26               0           0          22.767       0.00     4.22
2011     1             0           0          24               0           0          20.382       0.00     4.22
2012     1             0           0          21               0           0          18.537       0.00     4.22
2013     1             0           0          19               0           0          17.061       0.00     4.22
2014     1             0           0          11               0           0           9.348       0.00     4.22
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         319               0           0         279.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         319               0           0         279.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         319	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       176,438            0       176,438           0       5,293       171,145
2006                0           0       228,316            0       228,316           0       6,850       221,466
2007                0           0       162,044            0       162,044           0       4,861       157,183
2008                0           0       129,613            0       129,613           0       3,888       125,725
2009                0           0       109,735            0       109,735           0       3,292       106,443
2010                0           0        96,077            0        96,077           0       2,883        93,194
2011                0           0        86,011            0        86,011           0       2,580        83,431
2012                0           0        78,227            0        78,227           0       2,347        75,880
2013                0           0        71,997            0        71,997           0       2,160        69,837
2014                0           0        39,449            0        39,449           0       1,183        38,266
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,177,907            0     1,177,907           0      35,337     1,142,570
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,177,907            0     1,177,907           0      35,337     1,142,570	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          3,600           0     200,000           0       203,600        -32,455       -32,455       -27,634
2006          7,200           0           0           0         7,200        214,266       181,811       151,839
2007          7,200           0           0           0         7,200        149,983       331,794        96,069
2008          7,200           0           0           0         7,200        118,525       450,319        68,680
2009          7,200           0           0           0         7,200         99,243       549,562        52,038
2010          7,200           0           0           0         7,200         85,994       635,556        40,807
2011          7,200           0           0           0         7,200         76,231       711,787        32,741
2012          7,200           0           0           0         7,200         68,680       780,467        26,699
2013          7,200           0           0           0         7,200         62,637       843,104        22,039
2014          4,186           0           0           0         4,186         34,080       877,184        11,075
2015              0           0           0           0             0              0       877,184             0
2016              0           0           0           0             0              0       877,184             0
2017              0           0           0           0             0              0       877,184             0

SUBTOT       65,386           0     200,000           0       265,386        877,184                     474,353
REMAIN            0           0           0           0             0              0       877,184             0
TOTAL        65,386           0     200,000           0       265,386        877,184                     474,353

  LIFE OF EVALUATION IS 11.58 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 301
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #39 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       722,482
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       528,266
REMARKS -                                                                                 15.00% -       392,306
                                                                                          20.00% -       295,326
                                                                                          25.00% -       224,944	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          49               0           0          42.633       0.00     4.22
2006     1             0           0          64               0           0          56.619       0.00     4.22
2007     1             0           0          47               0           0          40.672       0.00     4.22
2008     1             0           0          37               0           0          32.695       0.00     4.22
2009     1             0           0          32               0           0          27.758       0.00     4.22
2010     1             0           0          28               0           0          24.346       0.00     4.22
2011     1             0           0          25               0           0          21.822       0.00     4.22
2012     1             0           0          22               0           0          19.865       0.00     4.22
2013     1             0           0          21               0           0          18.295       0.00     4.22
2014     1             0           0          20               0           0          17.003       0.00     4.22
2015     1             0           0          12               0           0          10.668       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         357               0           0         312.376       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         357               0           0         312.376       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         357	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       179,910            0       179,910           0       5,397       174,513
2006                0           0       238,933            0       238,933           0       7,168       231,765
2007                0           0       171,637            0       171,637           0       5,149       166,488
2008                0           0       137,974            0       137,974           0       4,140       133,834
2009                0           0       117,138            0       117,138           0       3,514       113,624
2010                0           0       102,739            0       102,739           0       3,082        99,657
2011                0           0        92,087            0        92,087           0       2,763        89,324
2012                0           0        83,829            0        83,829           0       2,514        81,315
2013                0           0        77,205            0        77,205           0       2,317        74,888
2014                0           0        71,752            0        71,752           0       2,152        69,600
2015                0           0        45,019            0        45,019           0       1,351        43,668
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,318,223            0     1,318,223           0      39,547     1,278,676
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,318,223            0     1,318,223           0      39,547     1,278,676	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          3,600           0     200,000           0       203,600        -29,087       -29,087       -25,086
2006          7,200           0           0           0         7,200        224,565       195,478       159,110
2007          7,200           0           0           0         7,200        159,288       354,766       102,023
2008          7,200           0           0           0         7,200        126,634       481,400        73,376
2009          7,200           0           0           0         7,200        106,424       587,824        55,802
2010          7,200           0           0           0         7,200         92,457       680,281        43,874
2011          7,200           0           0           0         7,200         82,124       762,405        35,271
2012          7,200           0           0           0         7,200         74,115       836,520        28,811
2013          7,200           0           0           0         7,200         67,688       904,208        23,816
2014          7,200           0           0           0         7,200         62,400       966,608        19,874
2015          4,775           0           0           0         4,775         38,893     1,005,501        11,395
2016              0           0           0           0             0              0     1,005,501             0
2017              0           0           0           0             0              0     1,005,501             0

SUBTOT       73,175           0     200,000           0       273,175      1,005,501                     528,266
REMAIN            0           0           0           0             0              0     1,005,501             0
TOTAL        73,175           0     200,000           0       273,175      1,005,501                     528,266

  LIFE OF EVALUATION IS 12.66 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 302
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #40 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       713,525
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       515,276
REMARKS -                                                                                 15.00% -       377,955
                                                                                          20.00% -       281,039
                                                                                          25.00% -       211,451	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          27               0           0          23.374       0.00     4.22
2006     1             0           0          73               0           0          63.765       0.00     4.22
2007     1             0           0          49               0           0          43.543       0.00     4.22
2008     1             0           0          40               0           0          34.309       0.00     4.22
2009     1             0           0          32               0           0          28.812       0.00     4.22
2010     1             0           0          29               0           0          25.098       0.00     4.22
2011     1             0           0          26               0           0          22.390       0.00     4.22
2012     1             0           0          23               0           0          20.312       0.00     4.22
2013     1             0           0          21               0           0          18.658       0.00     4.22
2014     1             0           0          20               0           0          17.304       0.00     4.22
2015     1             0           0          17               0           0          14.810       0.00     4.22
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         357               0           0         312.375       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         357               0           0         312.375       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         357	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        98,638            0        98,638           0       2,959        95,679
2006                0           0       269,087            0       269,087           0       8,073       261,014
2007                0           0       183,752            0       183,752           0       5,512       178,240
2008                0           0       144,782            0       144,782           0       4,344       140,438
2009                0           0       121,588            0       121,588           0       3,647       117,941
2010                0           0       105,915            0       105,915           0       3,178       102,737
2011                0           0        94,486            0        94,486           0       2,834        91,652
2012                0           0        85,717            0        85,717           0       2,572        83,145
2013                0           0        78,736            0        78,736           0       2,362        76,374
2014                0           0        73,025            0        73,025           0       2,191        70,834
2015                0           0        62,497            0        62,497           0       1,875        60,622
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,318,223            0     1,318,223           0      39,547     1,278,676
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,318,223            0     1,318,223           0      39,547     1,278,676	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -106,121      -106,121       -80,921
2006          7,200           0           0           0         7,200        253,814       147,693       179,957
2007          7,200           0           0           0         7,200        171,040       318,733       109,575
2008          7,200           0           0           0         7,200        133,238       451,971        77,211
2009          7,200           0           0           0         7,200        110,741       562,712        58,070
2010          7,200           0           0           0         7,200         95,537       658,249        45,337
2011          7,200           0           0           0         7,200         84,452       742,701        36,272
2012          7,200           0           0           0         7,200         75,945       818,646        29,523
2013          7,200           0           0           0         7,200         69,174       887,820        24,340
2014          7,200           0           0           0         7,200         63,634       951,454        20,267
2015          6,575           0           0           0         6,575         54,047     1,005,501        15,645
2016              0           0           0           0             0              0     1,005,501             0
2017              0           0           0           0             0              0     1,005,501             0

SUBTOT       73,175           0     200,000           0       273,175      1,005,501                     515,276
REMAIN            0           0           0           0             0              0     1,005,501             0
TOTAL        73,175           0     200,000           0       273,175      1,005,501                     515,276

  LIFE OF EVALUATION IS 12.91 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 303
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #41 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       176,605
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       134,943
REMARKS -                                                                                 15.00% -       102,887
                                                                                          20.00% -        78,209
                                                                                          25.00% -        59,205	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          20               0           0          17.276       0.00     4.22
2006     1             0           0          46               0           0          40.290       0.00     4.22
2007     1             0           0          29               0           0          25.282       0.00     4.22
2008     1             0           0          22               0           0          19.364       0.00     4.22
2009     1             0           0          11               0           0           9.789       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        72,904            0        72,904           0       2,187        70,717
2006                0           0       170,025            0       170,025           0       5,101       164,924
2007                0           0       106,688            0       106,688           0       3,201       103,487
2008                0           0        81,715            0        81,715           0       2,451        79,264
2009                0           0        41,308            0        41,308           0       1,239        40,069
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -131,083      -131,083       -99,662
2006          7,200           0           0           0         7,200        157,724        26,641       111,978
2007          7,200           0           0           0         7,200         96,287       122,928        61,711
2008          7,200           0           0           0         7,200         72,064       194,992        41,772
2009          4,257           0           0           0         4,257         35,812       230,804        19,144
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     134,943
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     134,943

  LIFE OF EVALUATION IS 6.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 304
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #42 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       501,480
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       378,548
REMARKS -                                                                                 15.00% -       287,925
                                                                                          20.00% -       220,512
                                                                                          25.00% -       169,934	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          29               0           0          25.738       0.00     4.22
2006     1             0           0          68               0           0          59.339       0.00     4.22
2007     1             0           0          43               0           0          37.040       0.00     4.22
2008     1             0           0          32               0           0          28.325       0.00     4.22
2009     1             0           0          27               0           0          23.427       0.00     4.22
2010     1             0           0          23               0           0          20.219       0.00     4.22
2011     1             0           0          20               0           0          17.925       0.00     4.22
2012     1             0           0          15               0           0          12.862       0.00     4.22
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         257               0           0         224.875       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         257               0           0         224.875       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         257	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       108,614            0       108,614           0       3,258       105,356
2006                0           0       250,412            0       250,412           0       7,513       242,899
2007                0           0       156,308            0       156,308           0       4,689       151,619
2008                0           0       119,531            0       119,531           0       3,586       115,945
2009                0           0        98,864            0        98,864           0       2,966        95,898
2010                0           0        85,324            0        85,324           0       2,560        82,764
2011                0           0        75,641            0        75,641           0       2,269        73,372
2012                0           0        54,278            0        54,278           0       1,628        52,650
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       948,972            0       948,972           0      28,469       920,503
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       948,972            0       948,972           0      28,469       920,503	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800        -96,444       -96,444       -73,627
2006          7,200           0           0           0         7,200        235,699       139,255       167,337
2007          7,200           0           0           0         7,200        144,419       283,674        92,556
2008          7,200           0           0           0         7,200        108,745       392,419        63,030
2009          7,200           0           0           0         7,200         88,698       481,117        46,516
2010          7,200           0           0           0         7,200         75,564       556,681        35,862
2011          7,200           0           0           0         7,200         66,172       622,853        28,423
2012          5,665           0           0           0         5,665         46,985       669,838        18,451
2013              0           0           0           0             0              0       669,838             0
2014              0           0           0           0             0              0       669,838             0
2015              0           0           0           0             0              0       669,838             0
2016              0           0           0           0             0              0       669,838             0
2017              0           0           0           0             0              0       669,838             0

SUBTOT       50,665           0     200,000           0       250,665        669,838                     378,548
REMAIN            0           0           0           0             0              0       669,838             0
TOTAL        50,665           0     200,000           0       250,665        669,838                     378,548

  LIFE OF EVALUATION IS 9.79 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 305
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #43 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       176,605
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       134,943
REMARKS -                                                                                 15.00% -       102,887
                                                                                          20.00% -        78,209
                                                                                          25.00% -        59,205	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          20               0           0          17.276       0.00     4.22
2006     1             0           0          46               0           0          40.290       0.00     4.22
2007     1             0           0          29               0           0          25.282       0.00     4.22
2008     1             0           0          22               0           0          19.364       0.00     4.22
2009     1             0           0          11               0           0           9.789       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        72,904            0        72,904           0       2,187        70,717
2006                0           0       170,025            0       170,025           0       5,101       164,924
2007                0           0       106,688            0       106,688           0       3,201       103,487
2008                0           0        81,715            0        81,715           0       2,451        79,264
2009                0           0        41,308            0        41,308           0       1,239        40,069
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -131,083      -131,083       -99,662
2006          7,200           0           0           0         7,200        157,724        26,641       111,978
2007          7,200           0           0           0         7,200         96,287       122,928        61,711
2008          7,200           0           0           0         7,200         72,064       194,992        41,772
2009          4,257           0           0           0         4,257         35,812       230,804        19,144
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     134,943
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     134,943

  LIFE OF EVALUATION IS 6.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 306
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #44 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       176,605
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       134,943
REMARKS -                                                                                 15.00% -       102,887
                                                                                          20.00% -        78,209
                                                                                          25.00% -        59,205	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          20               0           0          17.276       0.00     4.22
2006     1             0           0          46               0           0          40.290       0.00     4.22
2007     1             0           0          29               0           0          25.282       0.00     4.22
2008     1             0           0          22               0           0          19.364       0.00     4.22
2009     1             0           0          11               0           0           9.789       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.001       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.001       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        72,904            0        72,904           0       2,187        70,717
2006                0           0       170,025            0       170,025           0       5,101       164,924
2007                0           0       106,688            0       106,688           0       3,201       103,487
2008                0           0        81,715            0        81,715           0       2,451        79,264
2009                0           0        41,308            0        41,308           0       1,239        40,069
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -131,083      -131,083       -99,662
2006          7,200           0           0           0         7,200        157,724        26,641       111,978
2007          7,200           0           0           0         7,200         96,287       122,928        61,711
2008          7,200           0           0           0         7,200         72,064       194,992        41,772
2009          4,257           0           0           0         4,257         35,812       230,804        19,144
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     134,943
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     134,943

  LIFE OF EVALUATION IS 6.59 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 307
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #45 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       181,821
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       143,014
REMARKS -                                                                                 15.00% -       112,235
                                                                                          20.00% -        87,802
                                                                                          25.00% -        68,398	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          50               0           0          43.775       0.00     4.22
2006     1             0           0          34               0           0          29.508       0.00     4.22
2007     1             0           0          24               0           0          21.363       0.00     4.22
2008     1             0           0          20               0           0          17.230       0.00     4.22
2009     1             0           0           0               0           0           0.124       0.00     4.22
2010                   0           0           0               0           0           0.000       0.00     0.00
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0       184,731            0       184,731           0       5,542       179,189
2006                0           0       124,524            0       124,524           0       3,736       120,788
2007                0           0        90,151            0        90,151           0       2,704        87,447
2008                0           0        72,710            0        72,710           0       2,181        70,529
2009                0           0           524            0           524           0          16           508
2010                0           0             0            0             0           0           0             0
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          6,000           0     200,000           0       206,000        -26,811       -26,811       -25,811
2006          7,200           0           0           0         7,200        113,588        86,777        80,480
2007          7,200           0           0           0         7,200         80,247       167,024        51,400
2008          7,200           0           0           0         7,200         63,329       230,353        36,698
2009             57           0           0           0            57            451       230,804           247
2010              0           0           0           0             0              0       230,804             0
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     143,014
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     143,014

  LIFE OF EVALUATION IS 6.01 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 308
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #46 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       202,806
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       151,629
REMARKS -                                                                                 15.00% -       113,268
                                                                                          20.00% -        84,477
                                                                                          25.00% -        62,848	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          51               0           0          44.947       0.00     4.22
2007     1             0           0          36               0           0          30.913       0.00     4.22
2008     1             0           0          25               0           0          22.496       0.00     4.22
2009     1             0           0          21               0           0          18.185       0.00     4.22
2010     1             0           0           7               0           0           5.959       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         140               0           0         122.500       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         140               0           0         122.500       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         140	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       189,677            0       189,677           0       5,690       183,987
2007                0           0       130,454            0       130,454           0       3,914       126,540
2008                0           0        94,934            0        94,934           0       2,848        92,086
2009                0           0        76,739            0        76,739           0       2,302        74,437
2010                0           0        25,146            0        25,146           0         754        24,392
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       516,950            0       516,950           0      15,508       501,442
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       516,950            0       516,950           0      15,508       501,442	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000        -22,013       -22,013       -20,021
2007          7,200           0           0           0         7,200        119,340        97,327        76,534
2008          7,200           0           0           0         7,200         84,886       182,213        49,217
2009          7,200           0           0           0         7,200         67,237       249,450        35,268
2010          2,650           0           0           0         2,650         21,742       271,192        10,631
2011              0           0           0           0             0              0       271,192             0
2012              0           0           0           0             0              0       271,192             0
2013              0           0           0           0             0              0       271,192             0
2014              0           0           0           0             0              0       271,192             0
2015              0           0           0           0             0              0       271,192             0
2016              0           0           0           0             0              0       271,192             0
2017              0           0           0           0             0              0       271,192             0

SUBTOT       30,250           0     200,000           0       230,250        271,192                     151,629
REMAIN            0           0           0           0             0              0       271,192             0
TOTAL        30,250           0     200,000           0       230,250        271,192                     151,629

  LIFE OF EVALUATION IS 7.37 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 309
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #47 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       328,722
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       244,289
REMARKS -                                                                                 15.00% -       182,138
                                                                                          20.00% -       136,173
                                                                                          25.00% -       102,032	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          59               0           0          51.892       0.00     4.22
2007     1             0           0          42               0           0          36.429       0.00     4.22
2008     1             0           0          30               0           0          26.658       0.00     4.22
2009     1             0           0          25               0           0          21.601       0.00     4.22
2010     1             0           0          21               0           0          18.422       0.00     4.22
2011     1             0           0          14               0           0          12.124       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       218,983            0       218,983           0       6,570       212,413
2007                0           0       153,730            0       153,730           0       4,611       149,119
2008                0           0       112,496            0       112,496           0       3,375       109,121
2009                0           0        91,157            0        91,157           0       2,735        88,422
2010                0           0        77,739            0        77,739           0       2,332        75,407
2011                0           0        51,162            0        51,162           0       1,535        49,627
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000          6,413         6,413           -56
2007          7,200           0           0           0         7,200        141,919       148,332        91,006
2008          7,200           0           0           0         7,200        101,921       250,253        59,089
2009          7,200           0           0           0         7,200         81,222       331,475        42,602
2010          7,200           0           0           0         7,200         68,207       399,682        32,374
2011          5,308           0           0           0         5,308         44,319       444,001        19,274
2012              0           0           0           0             0              0       444,001             0
2013              0           0           0           0             0              0       444,001             0
2014              0           0           0           0             0              0       444,001             0
2015              0           0           0           0             0              0       444,001             0
2016              0           0           0           0             0              0       444,001             0
2017              0           0           0           0             0              0       444,001             0

SUBTOT       40,108           0     200,000           0       240,108        444,001                     244,289
REMAIN            0           0           0           0             0              0       444,001             0
TOTAL        40,108           0     200,000           0       240,108        444,001                     244,289

  LIFE OF EVALUATION IS 8.74 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 310
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #48 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       328,722
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       244,289
REMARKS -                                                                                 15.00% -       182,138
                                                                                          20.00% -       136,173
                                                                                          25.00% -       102,032	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          59               0           0          51.892       0.00     4.22
2007     1             0           0          42               0           0          36.429       0.00     4.22
2008     1             0           0          30               0           0          26.658       0.00     4.22
2009     1             0           0          25               0           0          21.601       0.00     4.22
2010     1             0           0          21               0           0          18.422       0.00     4.22
2011     1             0           0          14               0           0          12.124       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       218,983            0       218,983           0       6,570       212,413
2007                0           0       153,730            0       153,730           0       4,611       149,119
2008                0           0       112,496            0       112,496           0       3,375       109,121
2009                0           0        91,157            0        91,157           0       2,735        88,422
2010                0           0        77,739            0        77,739           0       2,332        75,407
2011                0           0        51,162            0        51,162           0       1,535        49,627
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000          6,413         6,413           -56
2007          7,200           0           0           0         7,200        141,919       148,332        91,006
2008          7,200           0           0           0         7,200        101,921       250,253        59,089
2009          7,200           0           0           0         7,200         81,222       331,475        42,602
2010          7,200           0           0           0         7,200         68,207       399,682        32,374
2011          5,308           0           0           0         5,308         44,319       444,001        19,274
2012              0           0           0           0             0              0       444,001             0
2013              0           0           0           0             0              0       444,001             0
2014              0           0           0           0             0              0       444,001             0
2015              0           0           0           0             0              0       444,001             0
2016              0           0           0           0             0              0       444,001             0
2017              0           0           0           0             0              0       444,001             0

SUBTOT       40,108           0     200,000           0       240,108        444,001                     244,289
REMAIN            0           0           0           0             0              0       444,001             0
TOTAL        40,108           0     200,000           0       240,108        444,001                     244,289

  LIFE OF EVALUATION IS 8.74 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 311
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #49 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       172,972
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       129,458
REMARKS -                                                                                 15.00% -        96,691
                                                                                          20.00% -        72,005
                                                                                          25.00% -        53,406	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          50               0           0          43.775       0.00     4.22
2007     1             0           0          34               0           0          29.508       0.00     4.22
2008     1             0           0          24               0           0          21.363       0.00     4.22
2009     1             0           0          20               0           0          17.230       0.00     4.22
2010     1             0           0           0               0           0           0.124       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       184,731            0       184,731           0       5,542       179,189
2007                0           0       124,524            0       124,524           0       3,736       120,788
2008                0           0        90,151            0        90,151           0       2,704        87,447
2009                0           0        72,710            0        72,710           0       2,181        70,529
2010                0           0           524            0           524           0          16           508
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000        -26,811       -26,811       -23,365
2007          7,200           0           0           0         7,200        113,588        86,777        72,852
2008          7,200           0           0           0         7,200         80,247       167,024        46,528
2009          7,200           0           0           0         7,200         63,329       230,353        33,219
2010             57           0           0           0            57            451       230,804           224
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     129,458
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     129,458

  LIFE OF EVALUATION IS 7.01 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 312
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #50 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       325,945
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       239,701
REMARKS -                                                                                 15.00% -       176,895
                                                                                          20.00% -       130,943
                                                                                          25.00% -        97,176	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          43               0           0          37.562       0.00     4.22
2007     1             0           0          49               0           0          42.963       0.00     4.22
2008     1             0           0          33               0           0          29.044       0.00     4.22
2009     1             0           0          26               0           0          22.800       0.00     4.22
2010     1             0           0          22               0           0          19.110       0.00     4.22
2011     1             0           0          18               0           0          15.646       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       158,511            0       158,511           0       4,755       153,756
2007                0           0       181,305            0       181,305           0       5,439       175,866
2008                0           0       122,566            0       122,566           0       3,677       118,889
2009                0           0        96,216            0        96,216           0       2,887        93,329
2010                0           0        80,645            0        80,645           0       2,419        78,226
2011                0           0        66,024            0        66,024           0       1,981        64,043
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -49,844       -49,844       -36,931
2007          7,200           0           0           0         7,200        168,666       118,822       108,273
2008          7,200           0           0           0         7,200        111,689       230,511        64,776
2009          7,200           0           0           0         7,200         86,129       316,640        45,184
2010          7,200           0           0           0         7,200         71,026       387,666        33,716
2011          6,750           0           0           0         6,750         57,293       444,959        24,683
2012              0           0           0           0             0              0       444,959             0
2013              0           0           0           0             0              0       444,959             0
2014              0           0           0           0             0              0       444,959             0
2015              0           0           0           0             0              0       444,959             0
2016              0           0           0           0             0              0       444,959             0
2017              0           0           0           0             0              0       444,959             0

SUBTOT       39,150           0     200,000           0       239,150        444,959                     239,701
REMAIN            0           0           0           0             0              0       444,959             0
TOTAL        39,150           0     200,000           0       239,150        444,959                     239,701

  LIFE OF EVALUATION IS 8.94 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 313
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #51 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       170,118
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       125,231
REMARKS -                                                                                 15.00% -        92,004
                                                                                          20.00% -        67,398
                                                                                          25.00% -        49,178	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          34               0           0          30.136       0.00     4.22
2007     1             0           0          40               0           0          34.571       0.00     4.22
2008     1             0           0          27               0           0          23.394       0.00     4.22
2009     1             0           0          21               0           0          18.372       0.00     4.22
2010     1             0           0           6               0           0           5.527       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       127,173            0       127,173           0       3,815       123,358
2007                0           0       145,889            0       145,889           0       4,377       141,512
2008                0           0        98,724            0        98,724           0       2,962        95,762
2009                0           0        77,529            0        77,529           0       2,325        75,204
2010                0           0        23,325            0        23,325           0         700        22,625
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -80,242       -80,242       -57,909
2007          7,200           0           0           0         7,200        134,312        54,070        86,222
2008          7,200           0           0           0         7,200         88,562       142,632        51,365
2009          7,200           0           0           0         7,200         68,004       210,636        35,677
2010          2,457           0           0           0         2,457         20,168       230,804         9,876
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     125,231
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     125,231

  LIFE OF EVALUATION IS 7.34 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 314
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #53 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       170,118
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       125,231
REMARKS -                                                                                 15.00% -        92,004
                                                                                          20.00% -        67,398
                                                                                          25.00% -        49,178	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          34               0           0          30.136       0.00     4.22
2007     1             0           0          40               0           0          34.571       0.00     4.22
2008     1             0           0          27               0           0          23.394       0.00     4.22
2009     1             0           0          21               0           0          18.372       0.00     4.22
2010     1             0           0           6               0           0           5.527       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       127,173            0       127,173           0       3,815       123,358
2007                0           0       145,889            0       145,889           0       4,377       141,512
2008                0           0        98,724            0        98,724           0       2,962        95,762
2009                0           0        77,529            0        77,529           0       2,325        75,204
2010                0           0        23,325            0        23,325           0         700        22,625
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -80,242       -80,242       -57,909
2007          7,200           0           0           0         7,200        134,312        54,070        86,222
2008          7,200           0           0           0         7,200         88,562       142,632        51,365
2009          7,200           0           0           0         7,200         68,004       210,636        35,677
2010          2,457           0           0           0         2,457         20,168       230,804         9,876
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     125,231
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     125,231

  LIFE OF EVALUATION IS 7.34 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 315
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #54 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       340,687
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       261,377
REMARKS -                                                                                 15.00% -       201,223
                                                                                          20.00% -       155,385
                                                                                          25.00% -       120,304	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          26               0           0          23.030       0.00     4.22
2006     1             0           0          59               0           0          51.068       0.00     4.22
2007     1             0           0          36               0           0          31.342       0.00     4.22
2008     1             0           0          27               0           0          23.851       0.00     4.22
2009     1             0           0          22               0           0          19.680       0.00     4.22
2010     1             0           0          20               0           0          16.960       0.00     4.22
2011     1             0           0           1               0           0           1.194       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        97,185            0        97,185           0       2,916        94,269
2006                0           0       215,508            0       215,508           0       6,465       209,043
2007                0           0       132,265            0       132,265           0       3,968       128,297
2008                0           0       100,649            0       100,649           0       3,019        97,630
2009                0           0        83,048            0        83,048           0       2,492        80,556
2010                0           0        71,572            0        71,572           0       2,147        69,425
2011                0           0         5,040            0         5,040           0         151         4,889
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -107,531      -107,531       -81,955
2006          7,200           0           0           0         7,200        201,843        94,312       143,343
2007          7,200           0           0           0         7,200        121,097       215,409        77,617
2008          7,200           0           0           0         7,200         90,430       305,839        52,417
2009          7,200           0           0           0         7,200         73,356       379,195        38,472
2010          7,200           0           0           0         7,200         62,225       441,420        29,532
2011            544           0           0           0           544          4,345       445,765         1,951
2012              0           0           0           0             0              0       445,765             0
2013              0           0           0           0             0              0       445,765             0
2014              0           0           0           0             0              0       445,765             0
2015              0           0           0           0             0              0       445,765             0
2016              0           0           0           0             0              0       445,765             0
2017              0           0           0           0             0              0       445,765             0

SUBTOT       38,344           0     200,000           0       238,344        445,765                     261,377
REMAIN            0           0           0           0             0              0       445,765             0
TOTAL        38,344           0     200,000           0       238,344        445,765                     261,377

  LIFE OF EVALUATION IS 8.08 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 316
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #55 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       340,687
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       261,377
REMARKS -                                                                                 15.00% -       201,223
                                                                                          20.00% -       155,385
                                                                                          25.00% -       120,304	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005     1             0           0          26               0           0          23.030       0.00     4.22
2006     1             0           0          59               0           0          51.068       0.00     4.22
2007     1             0           0          36               0           0          31.342       0.00     4.22
2008     1             0           0          27               0           0          23.851       0.00     4.22
2009     1             0           0          22               0           0          19.680       0.00     4.22
2010     1             0           0          20               0           0          16.960       0.00     4.22
2011     1             0           0           1               0           0           1.194       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0        97,185            0        97,185           0       2,916        94,269
2006                0           0       215,508            0       215,508           0       6,465       209,043
2007                0           0       132,265            0       132,265           0       3,968       128,297
2008                0           0       100,649            0       100,649           0       3,019        97,630
2009                0           0        83,048            0        83,048           0       2,492        80,556
2010                0           0        71,572            0        71,572           0       2,147        69,425
2011                0           0         5,040            0         5,040           0         151         4,889
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005          1,800           0     200,000           0       201,800       -107,531      -107,531       -81,955
2006          7,200           0           0           0         7,200        201,843        94,312       143,343
2007          7,200           0           0           0         7,200        121,097       215,409        77,617
2008          7,200           0           0           0         7,200         90,430       305,839        52,417
2009          7,200           0           0           0         7,200         73,356       379,195        38,472
2010          7,200           0           0           0         7,200         62,225       441,420        29,532
2011            544           0           0           0           544          4,345       445,765         1,951
2012              0           0           0           0             0              0       445,765             0
2013              0           0           0           0             0              0       445,765             0
2014              0           0           0           0             0              0       445,765             0
2015              0           0           0           0             0              0       445,765             0
2016              0           0           0           0             0              0       445,765             0
2017              0           0           0           0             0              0       445,765             0

SUBTOT       38,344           0     200,000           0       238,344        445,765                     261,377
REMAIN            0           0           0           0             0              0       445,765             0
TOTAL        38,344           0     200,000           0       238,344        445,765                     261,377

  LIFE OF EVALUATION IS 8.08 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 317
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #56 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       333,677
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       250,753
REMARKS -                                                                                 15.00% -       189,104
                                                                                          20.00% -       143,059
                                                                                          25.00% -       108,519	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          65               0           0          56.839       0.00     4.22
2007     1             0           0          42               0           0          36.777       0.00     4.22
2008     1             0           0          30               0           0          26.367       0.00     4.22
2009     1             0           0          24               0           0          21.179       0.00     4.22
2010     1             0           0          21               0           0          17.972       0.00     4.22
2011     1             0           0           9               0           0           7.990       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       239,861            0       239,861           0       7,196       232,665
2007                0           0       155,201            0       155,201           0       4,656       150,545
2008                0           0       111,270            0       111,270           0       3,338       107,932
2009                0           0        89,374            0        89,374           0       2,681        86,693
2010                0           0        75,843            0        75,843           0       2,275        73,568
2011                0           0        33,718            0        33,718           0       1,012        32,706
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000         26,665        26,665        14,370
2007          7,200           0           0           0         7,200        143,345       170,010        91,945
2008          7,200           0           0           0         7,200        100,732       270,742        58,406
2009          7,200           0           0           0         7,200         79,493       350,235        41,698
2010          7,200           0           0           0         7,200         66,368       416,603        31,502
2011          3,544           0           0           0         3,544         29,162       445,765        12,832
2012              0           0           0           0             0              0       445,765             0
2013              0           0           0           0             0              0       445,765             0
2014              0           0           0           0             0              0       445,765             0
2015              0           0           0           0             0              0       445,765             0
2016              0           0           0           0             0              0       445,765             0
2017              0           0           0           0             0              0       445,765             0

SUBTOT       38,344           0     200,000           0       238,344        445,765                     250,753
REMAIN            0           0           0           0             0              0       445,765             0
TOTAL        38,344           0     200,000           0       238,344        445,765                     250,753

  LIFE OF EVALUATION IS 8.49 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 318
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #57 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       627,145
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       454,784
REMARKS -                                                                                 15.00% -       333,752
                                                                                          20.00% -       247,559
                                                                                          25.00% -       185,369	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          79               0           0          68.994       0.00     4.22
2007     1             0           0          55               0           0          48.324       0.00     4.22
2008     1             0           0          40               0           0          35.340       0.00     4.22
2009     1             0           0          33               0           0          28.629       0.00     4.22
2010     1             0           0          28               0           0          24.411       0.00     4.22
2011     1             0           0          25               0           0          21.470       0.00     4.22
2012     1             0           0          22               0           0          19.281       0.00     4.22
2013     1             0           0          20               0           0          17.577       0.00     4.22
2014     1             0           0          16               0           0          14.226       0.00     4.22
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         318               0           0         278.252       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         318               0           0         278.252       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         318	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       291,153            0       291,153           0       8,735       282,418
2007                0           0       203,927            0       203,927           0       6,117       197,810
2008                0           0       149,135            0       149,135           0       4,474       144,661
2009                0           0       120,813            0       120,813           0       3,625       117,188
2010                0           0       103,012            0       103,012           0       3,090        99,922
2011                0           0        90,602            0        90,602           0       2,718        87,884
2012                0           0        81,366            0        81,366           0       2,441        78,925
2013                0           0        74,174            0        74,174           0       2,225        71,949
2014                0           0        60,033            0        60,033           0       1,801        58,232
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0     1,174,215            0     1,174,215           0      35,226     1,138,989
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0     1,174,215            0     1,174,215           0      35,226     1,138,989	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000         76,418        76,418        49,203
2007          7,200           0           0           0         7,200        190,610       267,028       122,224
2008          7,200           0           0           0         7,200        137,461       404,489        79,692
2009          7,200           0           0           0         7,200        109,988       514,477        57,688
2010          7,200           0           0           0         7,200         92,722       607,199        44,008
2011          7,200           0           0           0         7,200         80,684       687,883        34,658
2012          7,200           0           0           0         7,200         71,725       759,608        27,884
2013          7,200           0           0           0         7,200         64,749       824,357        22,785
2014          6,291           0           0           0         6,291         51,941       876,298        16,642
2015              0           0           0           0             0              0       876,298             0
2016              0           0           0           0             0              0       876,298             0
2017              0           0           0           0             0              0       876,298             0

SUBTOT       62,691           0     200,000           0       262,691        876,298                     454,784
REMAIN            0           0           0           0             0              0       876,298             0
TOTAL        62,691           0     200,000           0       262,691        876,298                     454,784

  LIFE OF EVALUATION IS 11.87 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 319
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #58 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       333,677
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       250,753
REMARKS -                                                                                 15.00% -       189,104
                                                                                          20.00% -       143,059
                                                                                          25.00% -       108,519	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          65               0           0          56.839       0.00     4.22
2007     1             0           0          42               0           0          36.777       0.00     4.22
2008     1             0           0          30               0           0          26.367       0.00     4.22
2009     1             0           0          24               0           0          21.179       0.00     4.22
2010     1             0           0          21               0           0          17.972       0.00     4.22
2011     1             0           0           9               0           0           7.990       0.00     4.22
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       239,861            0       239,861           0       7,196       232,665
2007                0           0       155,201            0       155,201           0       4,656       150,545
2008                0           0       111,270            0       111,270           0       3,338       107,932
2009                0           0        89,374            0        89,374           0       2,681        86,693
2010                0           0        75,843            0        75,843           0       2,275        73,568
2011                0           0        33,718            0        33,718           0       1,012        32,706
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,267            0       705,267           0      21,158       684,109
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,267            0       705,267           0      21,158       684,109	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000         26,665        26,665        14,370
2007          7,200           0           0           0         7,200        143,345       170,010        91,945
2008          7,200           0           0           0         7,200        100,732       270,742        58,406
2009          7,200           0           0           0         7,200         79,493       350,235        41,698
2010          7,200           0           0           0         7,200         66,368       416,603        31,502
2011          3,544           0           0           0         3,544         29,162       445,765        12,832
2012              0           0           0           0             0              0       445,765             0
2013              0           0           0           0             0              0       445,765             0
2014              0           0           0           0             0              0       445,765             0
2015              0           0           0           0             0              0       445,765             0
2016              0           0           0           0             0              0       445,765             0
2017              0           0           0           0             0              0       445,765             0

SUBTOT       38,344           0     200,000           0       238,344        445,765                     250,753
REMAIN            0           0           0           0             0              0       445,765             0
TOTAL        38,344           0     200,000           0       238,344        445,765                     250,753

  LIFE OF EVALUATION IS 8.49 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 320
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #59 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       483,484
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       355,974
REMARKS -                                                                                 15.00% -       264,096
                                                                                          20.00% -       197,288
                                                                                          25.00% -       148,295	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          71               0           0          62.078       0.00     4.22
2007     1             0           0          49               0           0          42.843       0.00     4.22
2008     1             0           0          36               0           0          31.206       0.00     4.22
2009     1             0           0          28               0           0          25.236       0.00     4.22
2010     1             0           0          25               0           0          21.496       0.00     4.22
2011     1             0           0          22               0           0          18.894       0.00     4.22
2012     1             0           0          19               0           0          16.960       0.00     4.22
2013     1             0           0           5               0           0           4.412       0.00     4.22
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       261,968            0       261,968           0       7,859       254,109
2007                0           0       180,798            0       180,798           0       5,424       175,374
2008                0           0       131,691            0       131,691           0       3,951       127,740
2009                0           0       106,494            0       106,494           0       3,195       103,299
2010                0           0        90,713            0        90,713           0       2,721        87,992
2011                0           0        79,734            0        79,734           0       2,392        77,342
2012                0           0        71,572            0        71,572           0       2,147        69,425
2013                0           0        18,617            0        18,617           0         559        18,058
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000         48,109        48,109        29,319
2007          7,200           0           0           0         7,200        168,174       216,283       107,845
2008          7,200           0           0           0         7,200        120,540       336,823        69,884
2009          7,200           0           0           0         7,200         96,099       432,922        50,405
2010          7,200           0           0           0         7,200         80,792       513,714        38,347
2011          7,200           0           0           0         7,200         70,142       583,856        30,130
2012          7,200           0           0           0         7,200         62,225       646,081        24,192
2013          1,992           0           0           0         1,992         16,066       662,147         5,852
2014              0           0           0           0             0              0       662,147             0
2015              0           0           0           0             0              0       662,147             0
2016              0           0           0           0             0              0       662,147             0
2017              0           0           0           0             0              0       662,147             0

SUBTOT       51,192           0     200,000           0       251,192        662,147                     355,974
REMAIN            0           0           0           0             0              0       662,147             0
TOTAL        51,192           0     200,000           0       251,192        662,147                     355,974

  LIFE OF EVALUATION IS 10.28 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 321
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #60 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       483,484
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       355,974
REMARKS -                                                                                 15.00% -       264,096
                                                                                          20.00% -       197,288
                                                                                          25.00% -       148,295	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          71               0           0          62.078       0.00     4.22
2007     1             0           0          49               0           0          42.843       0.00     4.22
2008     1             0           0          36               0           0          31.206       0.00     4.22
2009     1             0           0          28               0           0          25.236       0.00     4.22
2010     1             0           0          25               0           0          21.496       0.00     4.22
2011     1             0           0          22               0           0          18.894       0.00     4.22
2012     1             0           0          19               0           0          16.960       0.00     4.22
2013     1             0           0           5               0           0           4.412       0.00     4.22
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         255               0           0         223.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         255               0           0         223.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         255	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       261,968            0       261,968           0       7,859       254,109
2007                0           0       180,798            0       180,798           0       5,424       175,374
2008                0           0       131,691            0       131,691           0       3,951       127,740
2009                0           0       106,494            0       106,494           0       3,195       103,299
2010                0           0        90,713            0        90,713           0       2,721        87,992
2011                0           0        79,734            0        79,734           0       2,392        77,342
2012                0           0        71,572            0        71,572           0       2,147        69,425
2013                0           0        18,617            0        18,617           0         559        18,058
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       941,587            0       941,587           0      28,248       913,339
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       941,587            0       941,587           0      28,248       913,339	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          6,000           0     200,000           0       206,000         48,109        48,109        29,319
2007          7,200           0           0           0         7,200        168,174       216,283       107,845
2008          7,200           0           0           0         7,200        120,540       336,823        69,884
2009          7,200           0           0           0         7,200         96,099       432,922        50,405
2010          7,200           0           0           0         7,200         80,792       513,714        38,347
2011          7,200           0           0           0         7,200         70,142       583,856        30,130
2012          7,200           0           0           0         7,200         62,225       646,081        24,192
2013          1,992           0           0           0         1,992         16,066       662,147         5,852
2014              0           0           0           0             0              0       662,147             0
2015              0           0           0           0             0              0       662,147             0
2016              0           0           0           0             0              0       662,147             0
2017              0           0           0           0             0              0       662,147             0

SUBTOT       51,192           0     200,000           0       251,192        662,147                     355,974
REMAIN            0           0           0           0             0              0       662,147             0
TOTAL        51,192           0     200,000           0       251,192        662,147                     355,974

  LIFE OF EVALUATION IS 10.28 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 322
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #61 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       320,098
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       232,228
REMARKS -                                                                                 15.00% -       169,003
                                                                                          20.00% -       123,299
                                                                                          25.00% -        90,118	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          38               0           0          32.831       0.00     4.22
2007     1             0           0          47               0           0          41.491       0.00     4.22
2008     1             0           0          33               0           0          29.143       0.00     4.22
2009     1             0           0          27               0           0          23.213       0.00     4.22
2010     1             0           0          22               0           0          19.608       0.00     4.22
2011     1             0           0          20               0           0          17.142       0.00     4.22
2012     1             0           0           4               0           0           3.697       0.00     4.22
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         191               0           0         167.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         191               0           0         167.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         191	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       138,547            0       138,547           0       4,156       134,391
2007                0           0       175,092            0       175,092           0       5,253       169,839
2008                0           0       122,983            0       122,983           0       3,690       119,293
2009                0           0        97,957            0        97,957           0       2,938        95,019
2010                0           0        82,745            0        82,745           0       2,483        80,262
2011                0           0        72,341            0        72,341           0       2,170        70,171
2012                0           0        15,603            0        15,603           0         468        15,135
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       705,268            0       705,268           0      21,158       684,110
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       705,268            0       705,268           0      21,158       684,110	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -69,209       -69,209       -50,348
2007          7,200           0           0           0         7,200        162,639        93,430       104,347
2008          7,200           0           0           0         7,200        112,093       205,523        65,000
2009          7,200           0           0           0         7,200         87,819       293,342        46,066
2010          7,200           0           0           0         7,200         73,062       366,404        34,680
2011          7,200           0           0           0         7,200         62,971       429,375        27,051
2012          1,669           0           0           0         1,669         13,466       442,841         5,432
2013              0           0           0           0             0              0       442,841             0
2014              0           0           0           0             0              0       442,841             0
2015              0           0           0           0             0              0       442,841             0
2016              0           0           0           0             0              0       442,841             0
2017              0           0           0           0             0              0       442,841             0

SUBTOT       41,269           0     200,000           0       241,269        442,841                     232,228
REMAIN            0           0           0           0             0              0       442,841             0
TOTAL        41,269           0     200,000           0       241,269        442,841                     232,228

  LIFE OF EVALUATION IS 9.23 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 323
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #62 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       170,118
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       125,231
REMARKS -                                                                                 15.00% -        92,004
                                                                                          20.00% -        67,398
                                                                                          25.00% -        49,178	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          34               0           0          30.136       0.00     4.22
2007     1             0           0          40               0           0          34.571       0.00     4.22
2008     1             0           0          27               0           0          23.394       0.00     4.22
2009     1             0           0          21               0           0          18.372       0.00     4.22
2010     1             0           0           6               0           0           5.527       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         128               0           0         112.000       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         128               0           0         112.000       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         128	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       127,173            0       127,173           0       3,815       123,358
2007                0           0       145,889            0       145,889           0       4,377       141,512
2008                0           0        98,724            0        98,724           0       2,962        95,762
2009                0           0        77,529            0        77,529           0       2,325        75,204
2010                0           0        23,325            0        23,325           0         700        22,625
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       472,640            0       472,640           0      14,179       458,461
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       472,640            0       472,640           0      14,179       458,461	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -80,242       -80,242       -57,909
2007          7,200           0           0           0         7,200        134,312        54,070        86,222
2008          7,200           0           0           0         7,200         88,562       142,632        51,365
2009          7,200           0           0           0         7,200         68,004       210,636        35,677
2010          2,457           0           0           0         2,457         20,168       230,804         9,876
2011              0           0           0           0             0              0       230,804             0
2012              0           0           0           0             0              0       230,804             0
2013              0           0           0           0             0              0       230,804             0
2014              0           0           0           0             0              0       230,804             0
2015              0           0           0           0             0              0       230,804             0
2016              0           0           0           0             0              0       230,804             0
2017              0           0           0           0             0              0       230,804             0

SUBTOT       27,657           0     200,000           0       227,657        230,804                     125,231
REMAIN            0           0           0           0             0              0       230,804             0
TOTAL        27,657           0     200,000           0       227,657        230,804                     125,231

  LIFE OF EVALUATION IS 7.34 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 324
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #63 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       167,655
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       123,418
REMARKS -                                                                                 15.00% -        90,663
                                                                                          20.00% -        66,400
                                                                                          25.00% -        48,430	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          34               0           0          30.079       0.00     4.22
2007     1             0           0          40               0           0          34.440       0.00     4.22
2008     1             0           0          26               0           0          23.290       0.00     4.22
2009     1             0           0          21               0           0          18.286       0.00     4.22
2010     1             0           0           6               0           0           5.029       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       126,935            0       126,935           0       3,808       123,127
2007                0           0       145,337            0       145,337           0       4,360       140,977
2008                0           0        98,286            0        98,286           0       2,949        95,337
2009                0           0        77,165            0        77,165           0       2,315        74,850
2010                0           0        21,224            0        21,224           0         636        20,588
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -80,473       -80,473       -58,068
2007          7,200           0           0           0         7,200        133,777        53,304        85,880
2008          7,200           0           0           0         7,200         88,137       141,441        51,119
2009          7,200           0           0           0         7,200         67,650       209,091        35,491
2010          2,241           0           0           0         2,241         18,347       227,438         8,996
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     123,418
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     123,418

  LIFE OF EVALUATION IS 7.31 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 325
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #65 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       167,655
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       123,418
REMARKS -                                                                                 15.00% -        90,663
                                                                                          20.00% -        66,400
                                                                                          25.00% -        48,430	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          34               0           0          30.079       0.00     4.22
2007     1             0           0          40               0           0          34.440       0.00     4.22
2008     1             0           0          26               0           0          23.290       0.00     4.22
2009     1             0           0          21               0           0          18.286       0.00     4.22
2010     1             0           0           6               0           0           5.029       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.124       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.124       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0       126,935            0       126,935           0       3,808       123,127
2007                0           0       145,337            0       145,337           0       4,360       140,977
2008                0           0        98,286            0        98,286           0       2,949        95,337
2009                0           0        77,165            0        77,165           0       2,315        74,850
2010                0           0        21,224            0        21,224           0         636        20,588
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          3,600           0     200,000           0       203,600        -80,473       -80,473       -58,068
2007          7,200           0           0           0         7,200        133,777        53,304        85,880
2008          7,200           0           0           0         7,200         88,137       141,441        51,119
2009          7,200           0           0           0         7,200         67,650       209,091        35,491
2010          2,241           0           0           0         2,241         18,347       227,438         8,996
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     123,418
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     123,418

  LIFE OF EVALUATION IS 7.31 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 326
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #67 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       165,577
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       120,384
REMARKS -                                                                                 15.00% -        87,346
                                                                                          20.00% -        63,188
                                                                                          25.00% -        45,525	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          20               0           0          17.254       0.00     4.22
2007     1             0           0          46               0           0          40.155       0.00     4.22
2008     1             0           0          28               0           0          25.172       0.00     4.22
2009     1             0           0          22               0           0          19.274       0.00     4.22
2010     1             0           0          11               0           0           9.271       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0        72,813            0        72,813           0       2,184        70,629
2007                0           0       169,452            0       169,452           0       5,084       164,368
2008                0           0       106,225            0       106,225           0       3,187       103,038
2009                0           0        81,336            0        81,336           0       2,440        78,896
2010                0           0        39,121            0        39,121           0       1,173        37,948
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          1,800           0     200,000           0       201,800       -131,171      -131,171       -90,275
2007          7,200           0           0           0         7,200        157,168        25,997       101,008
2008          7,200           0           0           0         7,200         95,838       121,835        55,602
2009          7,200           0           0           0         7,200         71,696       193,531        37,619
2010          4,041           0           0           0         4,041         33,907       227,438        16,430
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     120,384
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     120,384

  LIFE OF EVALUATION IS 7.56 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 327
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #68 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       165,577
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       120,384
REMARKS -                                                                                 15.00% -        87,346
                                                                                          20.00% -        63,188
                                                                                          25.00% -        45,525	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          20               0           0          17.254       0.00     4.22
2007     1             0           0          46               0           0          40.155       0.00     4.22
2008     1             0           0          28               0           0          25.172       0.00     4.22
2009     1             0           0          22               0           0          19.274       0.00     4.22
2010     1             0           0          11               0           0           9.271       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0        72,813            0        72,813           0       2,184        70,629
2007                0           0       169,452            0       169,452           0       5,084       164,368
2008                0           0       106,225            0       106,225           0       3,187       103,038
2009                0           0        81,336            0        81,336           0       2,440        78,896
2010                0           0        39,121            0        39,121           0       1,173        37,948
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          1,800           0     200,000           0       201,800       -131,171      -131,171       -90,275
2007          7,200           0           0           0         7,200        157,168        25,997       101,008
2008          7,200           0           0           0         7,200         95,838       121,835        55,602
2009          7,200           0           0           0         7,200         71,696       193,531        37,619
2010          4,041           0           0           0         4,041         33,907       227,438        16,430
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     120,384
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     120,384

  LIFE OF EVALUATION IS 7.56 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 328
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #69 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       165,577
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       120,384
REMARKS -                                                                                 15.00% -        87,346
                                                                                          20.00% -        63,188
                                                                                          25.00% -        45,525	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006     1             0           0          20               0           0          17.254       0.00     4.22
2007     1             0           0          46               0           0          40.155       0.00     4.22
2008     1             0           0          28               0           0          25.172       0.00     4.22
2009     1             0           0          22               0           0          19.274       0.00     4.22
2010     1             0           0          11               0           0           9.271       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.126       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.126       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0        72,813            0        72,813           0       2,184        70,629
2007                0           0       169,452            0       169,452           0       5,084       164,368
2008                0           0       106,225            0       106,225           0       3,187       103,038
2009                0           0        81,336            0        81,336           0       2,440        78,896
2010                0           0        39,121            0        39,121           0       1,173        37,948
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006          1,800           0     200,000           0       201,800       -131,171      -131,171       -90,275
2007          7,200           0           0           0         7,200        157,168        25,997       101,008
2008          7,200           0           0           0         7,200         95,838       121,835        55,602
2009          7,200           0           0           0         7,200         71,696       193,531        37,619
2010          4,041           0           0           0         4,041         33,907       227,438        16,430
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     120,384
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     120,384

  LIFE OF EVALUATION IS 7.56 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 329
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #70 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       162,170
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       115,491
REMARKS -                                                                                 15.00% -        82,086
                                                                                          20.00% -        58,175
                                                                                          25.00% -        41,066	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007     1             0           0          50               0           0          43.672       0.00     4.22
2008     1             0           0          33               0           0          29.387       0.00     4.22
2009     1             0           0          25               0           0          21.266       0.00     4.22
2010     1             0           0          19               0           0          16.800       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0       184,295            0       184,295           0       5,529       178,766
2008                0           0       124,013            0       124,013           0       3,720       120,293
2009                0           0        89,741            0        89,741           0       2,692        87,049
2010                0           0        70,898            0        70,898           0       2,127        68,771
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007          6,000           0     200,000           0       206,000        -27,234       -27,234       -21,417
2008          7,200           0           0           0         7,200        113,093        85,859        65,660
2009          7,200           0           0           0         7,200         79,849       165,708        41,909
2010          7,041           0           0           0         7,041         61,730       227,438        29,339
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     115,491
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     115,491

  LIFE OF EVALUATION IS 7.98 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 330
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #71 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       162,170
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       115,491
REMARKS -                                                                                 15.00% -        82,086
                                                                                          20.00% -        58,175
                                                                                          25.00% -        41,066	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007     1             0           0          50               0           0          43.672       0.00     4.22
2008     1             0           0          33               0           0          29.387       0.00     4.22
2009     1             0           0          25               0           0          21.266       0.00     4.22
2010     1             0           0          19               0           0          16.800       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0       184,295            0       184,295           0       5,529       178,766
2008                0           0       124,013            0       124,013           0       3,720       120,293
2009                0           0        89,741            0        89,741           0       2,692        87,049
2010                0           0        70,898            0        70,898           0       2,127        68,771
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007          6,000           0     200,000           0       206,000        -27,234       -27,234       -21,417
2008          7,200           0           0           0         7,200        113,093        85,859        65,660
2009          7,200           0           0           0         7,200         79,849       165,708        41,909
2010          7,041           0           0           0         7,041         61,730       227,438        29,339
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     115,491
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     115,491

  LIFE OF EVALUATION IS 7.98 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

TENGASCO, INC. TABLE 331
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #72 (KNOX) UNDEVELOPED

                           REVENUE INTEREST                    PRODUCT PRICES
                      ----------------------------  -------------------------------------       DISCOUNTED
            EXPENSE     OIL/     PLANT                OIL/COND.    PL PROD      GAS        FUTURE NET INCOME - $
            INTEREST    COND.   PRODUCTS     GAS        $/BBL      $/BBL       $/MCF      COMPOUNDED    MONTHLY
            --------  --------  --------  --------  -------------  ------  -------------- ----------------------
INITIAL -   1.000000                      0.875000                             4.22        5.00% -       162,170
FINAL   -   1.000000                      0.875000                             4.22       10.00% -       115,491
REMARKS -                                                                                 15.00% -        82,086
                                                                                          20.00% -        58,175
                                                                                          25.00% -        41,066	

                ESTIMATED 8/8 THS PRODUCTION                COMPANY NET PRODUCTION              AVERAGE PRICES
           -------------------------------------  ------------------------------------------  ------------------
     NO OF   OIL/COND.   PLANT PROD.     GAS        OIL/COND.    PLANT PROD.         GAS      OIL/COND.   GAS
 PD  WELLS    BARRELS      BARRELS      MMCF         BARRELS       BARRELS          MMCF       $/BBL.    $/MCF
---- ----- ------------- ----------- -----------  -------------- -----------    ------------  --------- --------
2003                   0           0           0               0           0           0.000       0.00     0.00
2004                   0           0           0               0           0           0.000       0.00     0.00
2005                   0           0           0               0           0           0.000       0.00     0.00
2006                   0           0           0               0           0           0.000       0.00     0.00
2007     1             0           0          50               0           0          43.672       0.00     4.22
2008     1             0           0          33               0           0          29.387       0.00     4.22
2009     1             0           0          25               0           0          21.266       0.00     4.22
2010     1             0           0          19               0           0          16.800       0.00     4.22
2011                   0           0           0               0           0           0.000       0.00     0.00
2012                   0           0           0               0           0           0.000       0.00     0.00
2013                   0           0           0               0           0           0.000       0.00     0.00
2014                   0           0           0               0           0           0.000       0.00     0.00
2015                   0           0           0               0           0           0.000       0.00     0.00
2016                   0           0           0               0           0           0.000       0.00     0.00
2017                   0           0           0               0           0           0.000       0.00     0.00

SUB-TOTAL              0           0         127               0           0         111.125       0.00     4.22
REMAINDER              0           0           0               0           0           0.000       0.00     0.00
TOTAL                  0           0         127               0           0         111.125       0.00     4.22

CUMULATIVE             0           0           0
ULTIMATE               0           0         127	

                     COMPANY FUTURE GROSS REVENUE (FGR) - $                  PRODUCTION TAXES - $
       ------------------------------------------------------------------- -----------------------   FGR AFTER
            FROM         FROM         FROM                                                           PRODUCTION
 PD      OIL/COND.    PLANT PROD.      GAS          OTHER         TOTAL     OIL/COND.    GAS/P.P.    TAXES - $
----   -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003                0           0             0            0             0           0           0             0
2004                0           0             0            0             0           0           0             0
2005                0           0             0            0             0           0           0             0
2006                0           0             0            0             0           0           0             0
2007                0           0       184,295            0       184,295           0       5,529       178,766
2008                0           0       124,013            0       124,013           0       3,720       120,293
2009                0           0        89,741            0        89,741           0       2,692        87,049
2010                0           0        70,898            0        70,898           0       2,127        68,771
2011                0           0             0            0             0           0           0             0
2012                0           0             0            0             0           0           0             0
2013                0           0             0            0             0           0           0             0
2014                0           0             0            0             0           0           0             0
2015                0           0             0            0             0           0           0             0
2016                0           0             0            0             0           0           0             0
2017                0           0             0            0             0           0           0             0

SUB-TOT             0           0       468,947            0       468,947           0      14,068       454,879
REMAIN              0           0             0            0             0           0           0             0
TOTAL               0           0       468,947            0       468,947           0      14,068       454,879	

                               DEDUCTIONS - $                         FUTURE NET INCOME BEFORE INCOME TAXES - $
       -------------------------------------------------------------- ------------------------------------------
        OPERATING   AD VALOREM  DEVELOPMENT                                   UNDISCOUNTED           DISCOUNTED
 PD       COSTS        TAXES       COSTS       OTHER        TOTAL         ANNUAL      CUMULATIVE     @  10.00 %
----   ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003              0           0           0           0             0              0             0             0
2004              0           0           0           0             0              0             0             0
2005              0           0           0           0             0              0             0             0
2006              0           0           0           0             0              0             0             0
2007          6,000           0     200,000           0       206,000        -27,234       -27,234       -21,417
2008          7,200           0           0           0         7,200        113,093        85,859        65,660
2009          7,200           0           0           0         7,200         79,849       165,708        41,909
2010          7,041           0           0           0         7,041         61,730       227,438        29,339
2011              0           0           0           0             0              0       227,438             0
2012              0           0           0           0             0              0       227,438             0
2013              0           0           0           0             0              0       227,438             0
2014              0           0           0           0             0              0       227,438             0
2015              0           0           0           0             0              0       227,438             0
2016              0           0           0           0             0              0       227,438             0
2017              0           0           0           0             0              0       227,438             0

SUBTOT       27,441           0     200,000           0       227,441        227,438                     115,491
REMAIN            0           0           0           0             0              0       227,438             0
TOTAL        27,441           0     200,000           0       227,441        227,438                     115,491

  LIFE OF EVALUATION IS 7.98 YEARS.
  FINAL PRODUCTION RATE: 1.5 MMCF/MO	

Exhibit 99.17(a)
CONSENT OF INDEPENDENT PETROLEUM ENGINEERS
As independent oil and gas consultants, Ryder Scott Company, L.P. hereby consents to: (a) the use of our report setting forth our estimates of proved reserves and future revenue, as of December 31, 2002, to the interest of Tengasco, Inc. ("Tengasco") in certain oil and gas properties; and (b) all references to our firm included in or made a part of Tengasco's Annual Report on Form 10-K for the year ended December 31, 2002.

                                                   /s/ Ryder Scott Company, L.P.

                                                       RYDER SCOTT COMPANY, L.P.

Houston, Texas
March 20, 2003	

[Letterhead BDO Seidman, LLP]
CONSENT OF INDEPENDENT AUDITORS
Tengasco Inc. and Subsidiaries
Knoxville, Tennessee
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-48694) of Tengasco Inc. and Subsidiaries of our report dated February 27, 2003, relating to the consolidated financial statements, which appears in the Annual Report to Shareholders, which is incorporated in this Annual Report on Form 10-K. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

Atlanta, Georgia                                            /s/ BDO Seidman, LLP
March 31, 2003