Tengasco Inc New (TGC)

hmm

Merger Agreement

On October 21, 2020, Tengasco, Inc. (“Tengasco”), Antman Sub, LLC, a newly-formed Delaware limited liability company and wholly-owned subsidiary of Tengasco (“Merger Sub”), and Riley Exploration – Permian, LLC, a Delaware limited liability company (“Riley”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Merger Sub will be merged with and into Riley, with Riley surviving that merger as a wholly-owned subsidiary of Tengasco (the “Merger”). The Merger Agreement and the transactions related thereto have been approved by the board of directors of Tengasco, the board of managers of Riley, and the board of managers of Merger Sub.

On the terms and subject to the conditions set forth in the Merger Agreement, upon consummation of the Merger, each common unit of Riley (the “Riley Common Units”) issued and outstanding immediately prior to the effective time of the Merger (other than Cancelled Units (as defined in the Merger Agreement)) will be converted into the right to receive: (a) 97.796467 shares of Tengasco’s common stock, par value $0.001 per share (the “Tengasco Common Stock”) (together with any cash to be paid in lieu of fractional shares of Tengasco Common Stock payable pursuant to the Merger Agreement, the “Merger Consideration”) and (b) any dividends or other distributions to which the holder of a Riley Common Unit becomes entitled to upon the surrender of such Riley Common Units in accordance with the Merger Agreement.

TGC was going nowhere but there was activity indicating something was happening

I picked up a few thousand shares ~.85 back in Aug and sold them all on the pop at $2.45 (actually just after the pop when it became clear it was just a pop)

It's just like a reverse merger for Riley to get access to capital but instead of merging into a scammy shell, they picked up a small publicly traded co

A lot faster and easier than an IPO

works for me

spec

$TGC- a GARBAGE, FAKE company being bought out by an even bigger GARBAGE, FAKE company-all for the sake of stock price manipulation. All involved should have their heads chopped off.

* * $TGC Video Chart 10-21-2020 * *

Link to Video - click here to watch the technical chart video

That was some quick cash

lets see what happens going forward

spec

This board is pathetic. TGC merger makes no sense that stock surged to the 4s. Will result in 1:8 or 1:12 reverse split? Ridiculous

JUST IN: $TGC Tengasco, Inc. and Riley Exploration-Permian, LLC Announce Merger Agreement

Tengasco, Inc. and Riley Exploration-Permian, LLC Announce Merger Agreement PR Newswire GREENWOOD VILLAGE, Colo. and OKLAHOMA CITY, Oct. 21, 2020 GREENWOOD VILLAGE, Colo. and OKLAHOMA CITY , Oct. 21, 2020 /PRNewswire/ -- Tengasco Inc. (NYSE American: TGC)...

Got this from TGC - Tengasco, Inc. and Riley Exploration-Permian, LLC Announce Merger Agreement

Anyone keeping an eye on this one still? Been a while since I have dug into it.

In

TGC~~.5855 running PM,,up 14%%%

TGC~~.51,NYSE AMEX~~NEWS~~Tengasco Announces Review Of Potential Business Combination Alternatives
NEWS PROVIDED BY

Tengasco, Inc.
Jan 14, 2020, 06:45 ET

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GREENWOOD VILLAGE, Colo., Jan. 14, 2020 /PRNewswire/ -- Tengasco, Inc. (NYSE American: TGC) today announced that its Board of Directors has commenced a process to explore potential transactions or combinations in order to maximize shareholder value. These alternatives may include continuing as a standalone public company, going private, acquiring businesses within or outside of the energy industry, and other business combinations. The Board has retained Roth Capital Partners, LLC as its financial advisor in connection with the process of reviewing potential transactions.

Tengasco is an oil and gas exploration and production company with conventional oil producing assets primarily located in the Central Kansas Uplift, Kansas. In 2018, the Company sold non-core methane facility assets in Carter Valley, Tennessee to focus on its existing oil properties. Currently Tengasco, has no outstanding bank debt, maintains a positive working capital position, and has a neutral to positive monthly EBITDA.

"Despite navigating challenging oil markets, Tengasco has carefully maintained its national exchange listing and a clean balance sheet. These characteristics make Tengasco a prime candidate for businesses seeking to go public that may not have a traditional IPO route available to them," stated Michael J. Rugen, Tengasco's Chief Executive Officer. "While there appear to be larger public vehicles (for example, special purpose acquisition companies [SPACs]) with larger transaction thresholds, we continue to believe there is a gap in access for small and medium-sized businesses that have a desire to go public. We believe Tengasco should explore options to possibly meet this need."

Alexander M. Montano, Managing Director of the Energy Investment Banking Team at Roth Capital Partners said "Tengasco has set itself apart from its peers by being a good steward of capital in a period of highly-levered balance sheets, but most importantly, maintaining its value as a solid, listed, publicly reporting issuer. Tengasco has a platform that should be able to raise institutional capital with the right identified acquisition."

There can be no assurance that the Company's review process will result in any successful transaction or other outcome. The Company does not intend to comment further publicly or publicly discuss the review process unless and until its Board of Directors has approved a definitive transaction, or otherwise determined that further disclosure is appropriate or is required by law.

To inquire more about this process please contact Roth Capital Partners at energy@roth.com

Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the Company's reserves and projects, risks of downturns in economic conditions generally, risks associated with the review of business combination alternatives, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

SOURCE Tengasco, Inc.


Related Links
www.tengasco.com

The dry hole in April didn’t help but it happens. All in all it’s steady and when oil prices bounce up in the future though can probably count on it helping the pps here

Took a big 25% drop on Tuesday

These guys are doing over 300 barrels of oil a day with room to drill more. I like it just wish there was some heavy volume in the stock.

They just posted a 10Q. All I can say is hang on! It gonna be a wild ride!

$TGC will have there Earnings on 08/14/18

Great DD post. Stock trading at a huge discount.

Almost 1 Million Barrels of Oil in Proved Reserves per 10K and Company is now profitable



2016 Proved Reserves was 730K barrels of oil

2017 Proved Reserves was 870K barrels of oil

2018 Proved Reserves closing in on 1 million with new oil wells drilled.



There debt went down to like 150k

Cash went up by over 2 million

Assets up

Liabilities down

Proven reserves up

Oil average selling price up

Public Float 5 Million

Looks AWESOME!

5 Million Share Float = Tiny Float! From 10K At March 26, 2018, the Company had 10,624,493 shares of common stock outstanding of which 5,439,862 shares were held by officers, directors, and affiliates. In addition, options to purchase 20,625 shares of unissued common stock were granted under the Tengasco, Inc. Stock Incentive Plan all of which were vested at March 26, 2018

Recessions kill the price of Oil ;)

just saying ;)

It looks to be already beginning.

https://oilprice.com/Latest-Energy-News/World-News/Indian-Refiner-Cancels-Iranian-Oil-Shipment-As-Insurance-Wont-Cover-Cargo.html

"and recent forecast sees Oil at $120-$150."

Oh really ? Care to post the ragamuffin who predicts this ? Lozzzzz

Started a small position today. News coming soon??

Thanks for the gift price.

Many haven't realized that EPS increased by 500% in Q1 2018 ( vs a lose in 2017). actually almost 1000% increase at today's oil price. A golden opportunity to early buyers before the market will be realized.sector P/E ratio about 3 times higher.
T.assets/t.liabilities ratio>3 (beats the sector, tiny debt).
Waiting also wells production update which might send this like a rocket when it will be released.

added a bunch this morning; nice buying here ... TGC

Anytime. I see much better Q2 earnings. Profit margin will be surged.company has tiny debt and defiantly moving forward.

I like it thnx for you’re work ash

hope you have locked up your shares as I did. more than $2m net income (past earnings, at today's commodities price), that's about $1/share annually. P/E Sector 21 to 25, even on a conservative P/E of 10, TGC valueation is $10/sh. company should provide an update relating wells which coming into pruduction this year.

Crude prices Tanked today, reason this went down!!

Hey I like panic buying.. lets go $TGC

OPEC's oil output jumps in June as Saudi Arabia opens the taps to tame crude prices
Saudi Arabia's oil production jumped by nearly 500,000 barrels per day in June as it aims to put more supply into the market to tame the cost of crude.
Output from OPEC was up 173,000 bpd as the 15-member producer group prepares to lift production caps in place since 2017.
OPEC forecast that global oil demand will cross 100 million bpd for the first time in 2019, but warned trade tensions could negatively impact the market.
Tom DiChristopher | @tdichristopher

1.15 Broke above the Clouds Babe! A break above 1.25 Panic Buying begins!!

Better load all u can now @ 1.21 BOOM! $$$

https://www.khaleejtimes.com/business/energy/Will-crude-oil-prices-hit-$120-per-barrel%3F

Will crude oil prices hit $120 per barrel? https://www.khaleejtimes.com/business/energy/Will-crude-oil-prices-hit-$120-per-barrel%3F

Nice day here

Nice Strong Close @ 1.23 See ya @ 2.50 This week $$$$

$1.22 Lets Go, Panic Buying has begun baby! $$$

$$$$ 1.20 Weeee Load all you can now or cry @ 2.50 This week! $$$

1.17 BOOOM!!! Panic Buying begins above 1.20 promise! LOL $$$$$

Massive Squeeze On Oil Stocks!! $$$ https://oilprice.com/Geopolitics/Middle-East/The-Broader-Implications-Of-US-Sanctions-On-Iran.html

*** 1.13 and climbing Huge BUYS Coming in now Lets Go Baybeeee!!! $$$$ Lets push it to $2.50 This week!! $$$

$$$ Scalpers will be left behind if they dont slap the ASk hard!!! $$$$ BOOM!!! $$$

ASKs has nothing back to 1.34 - 1.35 $$$ Load now while still under 1.15 - 1.20 Breakout Trigger!

Strong BUY $$$
https://stockinvest.us/technical-analysis/TGC

https://www.tradingview.com/symbols/AMEX-TGC/

Volume Broke Out 3X above Daily Avg! BOOM!!!! $$$ 1.90 - 2.00 Bounce Target This week!!! $$$

All IN @ 1.085 lets Close @ HOD $$$

Many haven't realized that EPS increased by 500% in Q1 2018 ( vs a lose in 2017) and that's actually almost 1000% increase at today's oil price. A golden opportunity to early loaders before the market will be realized.sector P/E ratio about 3 times higher and recent forecast sees Oil at $120-$150. Waiting also wells production update which might send this like a rocket when it will be released.

Highly undervalued!