SEC Filing Summary: Tengasco, Inc. (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed by Tengasco, Inc. on June 21, 2010. The report details the results of the Company's Annual Meeting of Stockholders held on the same date and provides an update on the production status of the Albers B #1 well in Kansas.
Key Financial Metrics
The filing does not contain standard financial statements, revenue, profit, cash flow, or debt metrics. The only quantitative data provided relates to corporate governance and operational output:
- Shares Outstanding (Record Date): 59,816,661 shares.
- Shares Represented at Meeting: 52,570,961 shares (87.9% of outstanding).
- Albers B #1 Well Production: Average of 113 barrels of oil per day (BOPD) since completion on June 1, 2010.
- Production Impact: Increased daily oil production in Kansas by approximately 20%.
Material Changes and Operational Updates
The primary material event reported is the successful completion and production of the Albers B #1 well in Kansas. Key operational details include:
- The well was completed on June 1, 2010.
- Production contains no associated water.
- The well significantly adds to the Company's total reserves.
Corporate Governance and Voting Results
At the Annual Meeting, shareholders voted on two proposals:
- Election of Directors: All five nominated directors were reelected by plurality vote.
- Jeffrey R. Bailey: 25,470,053 For / 390,183 Withheld
- Matthew K. Behrent: 25,536,829 For / 323,407 Withheld
- John A. Clendening: 25,521,414 For / 338,822 Withheld
- Carlos P. Salas: 25,313,331 For / 546,905 Withheld
- Peter E. Salas: 25,302,043 For / 558,193 Withheld
- Ratification of Auditors: The appointment of Rodefer Moss & Co, PLLC as the independent registered public accounting firm for fiscal year 2010 was ratified.
- For: 51,501,196
- Against: 952,524
- Abstain: 117,241
Important Facts for Investor Verification
- Verify the sustained production rate of the Albers B #1 well beyond the initial average of 113 BOPD.
- Confirm the specific volume of reserves added to the Company's total reserves as a result of the new well.
- Review the full text of the press release (Exhibit 99.1) for additional technical details on the well completion.
- Note that the information regarding the well is not deemed "filed" under Section 18 of the Exchange Act and is not incorporated by reference into other filings.