SEC Filing Summary: Tengasco, Inc. (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed by Tengasco, Inc. on December 8, 2010, reporting events occurring on December 3, 2010. The filing addresses corporate governance changes, specifically the election of a new independent director. Note: The input metadata referenced "Riley Exploration Permian, Inc.," but the filing text explicitly identifies the registrant as Tengasco, Inc.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Board Expansion: The Board of Directors expanded from five to six members.
- New Appointment: Hughree Brooks was elected as an independent director effective December 3, 2010.
- Committee Assignments: Mr. Brooks was appointed to the Audit Committee and named Chairman of the Compensation Committee.
- Committee Composition: The Audit Committee now consists of Matthew Behrent (Chairman), Carlos Salas, and Hughree Brooks. The Compensation Committee now consists of Hughree Brooks (Chairman), John Clendening, and Matthew Behrent.
Management Commentary and Qualifications
Management states that Mr. Brooks is eminently qualified to serve as a Director due to his extensive background in the oil and gas industry. Key qualifications include:
- Industry Experience: 35 years as a land manager with major and independent oil companies (e.g., Amoco, Mitchell Energy, Ladd Petroleum).
- Entrepreneurship: Co-founder of Powerhouse Energy Solutions LLC (2010), focusing on renewable energy and biofuel advisory services.
- Legal Background: Licensed attorney with a J.D. from Loyola Law School (1980).
- Asset Management: His clients own over 16,000 acres in South Louisiana with a history of oil and gas production.
Investor Verification Checklist
- Verify the correct registrant name (Tengasco, Inc.) versus the metadata label (Riley Exploration Permian, Inc.).
- Confirm the effective date of the new director's appointment (December 3, 2010).
- Review the updated composition of the Audit and Compensation Committees.
- Assess potential conflicts of interest regarding Mr. Brooks' role as co-founder of Powerhouse Energy Solutions LLC.