Sec Form 4 Filing - SALAS PETER E @ TENGASCO INC - 2012-12-31

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person SALAS PETER E 2. Issuer Name and Ticker or Trading Symbol TENGASCO INC [ TGC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) P.O. BOX 16867 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2012 (Street) FERNDANDINA, FL32095 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/31/2012 S 218,000 D $ 1.1 ( 1 ) 0 D Common Stock 12/31/2012 S 15,458,321 D $ 1.1 ( 2 ) 5,381,171 I By Affiliate Partnership

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Option Right to Buy $ 0.64 01/02/2013 J( 3 ) 1 01/02/2013 01/01/2018 Common Stock 6,250 $ 0 1 D Option Right to buy $ 0.73 10/01/2012 J( 3 ) 1 10/01/2012 09/30/2017 Common Stock 6,250 $ 0 1 D Option Right to buy $ 0.81 07/02/2012 J( 3 ) 1 07/02/2012 07/01/2017 Common Stock 6,250 $ 0 1 D Option Right to buy $ 1.07 04/02/2012 J( 3 ) 1 04/02/2012 04/01/2017 Common Stock 6,250 $ 0 1 D Option Right to buy $ 0.75 01/03/2012 J( 3 ) 1 01/03/2012 01/02/2017 Common Stock 6,250 $ 0 1 D Option Right to Buy $ 0.72 10/03/2011 J( 3 ) 1 10/03/2011 10/02/2016 Common Stocik 6,250 $ 0 1 D Option Right to buy $ 0.84 07/06/2011 J( 3 ) 1 07/06/2011 07/05/2016 Common Stock 6,250 $ 0 1 D Option Right to buy $ 1.16 04/01/2011 J( 3 ) 1 04/01/2011 03/31/2016 Common Stock 6,250 $ 0 1 D Option Right to Buy $ 1.08 03/17/2011 J( 3 ) 1 03/17/2011 03/16/2016 Common Stock 25,000 $ 0 1 D Option Right to buy $ 0.43 02/08/2010 J( 3 ) 1 02/08/2010 02/07/2015 Common Stock 25,000 $ 0 1 D Option Right to Buy $ 0.7 01/08/2009 J( 3 ) 1 01/08/2009 01/07/2014 Common Stock 25,000 $ 0 1 D Option Right to buy $ 1.44 06/03/2008 J( 3 ) 1 06/03/2008 06/02/2013 Common Stock 25,000 $ 0 1 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SALAS PETER E P.O. BOX 16867 FERNDANDINA, FL32095 X X DOLPHIN OFFSHORE PARTNERS LP 129 EAST 17TH STREET NEW YORK, NY10003 X Signatures s/Peter E Salas 01/03/2013 Signature of Reporting Person Date Dolphin Offshore Partners LP 01/03/2013 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares were sold in a private transaction to SSB Ventures LLC, a Delaware limited liability company in which Peter E. Salas is a member, for the consideration of a promissory note dated December 31, 2012 by SSB Ventures LLC in amount of $239,800. Pursuant to the SSB Ventures LLC company agreement, Peter E. Salas retains the power to direct the voting by SSB Ventures LLC of the shares sold to it by Peter E. Salas. ( 2 )Shares were sold in a private transaction to SSB Ventures LLC, a Delaware limited liability company in which Dolphin Offshore Partners, L.P. is a member, for the consideration of a promissory note dated December 31, 2012 by SSB Ventures LLC in amount of $17,004,153.10. Pursuant to the SSB Ventures LLC company agreement, Dolphin Offshore Partners, L.P. retains the power to direct the voting by SSB Ventures LLC of the shares sold to it by Dolphin Offshore Partners L.P.. Peter E. Salas, the Chairman of the Company's Board of Directors, is the sole shareholder and controlling person of Dolphin Mgmt. Services, Inc., the managing general partner of Dolphin Offshore Partners, L.P. This sale neither results in a change of control of the Company nor any effect upon management of the Company. ( 3 )Grant of option pursuant to Tengasco's Stock Incentive Plan.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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