UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
TENGASCO INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
88033R 30 4
(CUSIP Number)
Peter E. Salas, General Partner of
Dolphin Offshore Partners, L.P.
c/o Dolphin Asset Management Corp.
129 East 17th Street
New York, NY 10003
(212) 982-5071
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communication)
July 3, 2002
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on this cover page shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON: Peter E. Salas, as General Partner of Dolphin Offshore Partners, L.P.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ___
3. SEC USE ONLY
4. SOURCE OF FUNDS: WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION: USA
7. SOLE VOTING POWER: 889,400
8. SHARED VOTING POWER: 0
9. SOLE DISPOSITIVE POWER: 889,400
10. SHARED DISPOSITIVE POWER: 0
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 889,400
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: /
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 7.95%
14. TYPE OF REPORTING PERSON: IN
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
TENGASCO INC.
(Name of Company)
Item 1. Security and Issuer.
The title of the class of security to which this statement relates is the
Common Stock of Tengasco, Inc., whose principal executive offices are located
at 603 Main Ave., Suite 500, Knoxville, TN 37902.
Item 2. Identity and Background
This statement is filed by Peter E. Salas, a United States citizen with a
business address at Dolphin Asset Management Corp., 129 East 17th Street, NY,
NY 10003, as General Partner of Dolphin Offshore Partners, L.P. His present
principal occupation is General Partner of Dolphin Offshore Partners, L.P.
During the last five years, Mr. Salas has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) nor been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction subjecting him to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
Federal or State securities laws or finding any violation with respect to such
laws.
Item 3. Source and Amount of Funds or Other Consideration
$900,000 face value of 8% Series B Convertible Preferred with 10,000
common stock purchase warrants were purchased directly from the issuing company
in August 2000. 373,900 common shares were purchased in the open market in
2002. 400,000 common shares were purchased directly from the issuing company
on July 3, 2002. All purchases were made with the working capital of Dolphin
Offshore Partners, L.P.
Item 4. Purpose of the Transaction
The common shares, preferred stock and warrants were acquired for
investment purposes only.
Item 5. Interest in Securities of the Issuer
Mr. Salas is the beneficial owner of 773,900 common shares, $900,000 face
value of 8% Series B Preferred, convertible into 105,000 shares and 10,500
common stock warrants.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
Mr. Salas has the exclusive right to vote the shares of Common
Stock at any regular or special meetings of the shareholders of the Company
and/or any actions in lieu of meetings or shareholder proceedings.
Item 7. Material to be Filed as Exhibits
Signatures
After reasonable inquiry and to the best of his knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: July 10, 2002
/s/ Peter E. Salas
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