Tengasco Announces Kansas Production Increases and Developments
February 01 2006 - 9:55AM
Business Wire
Tengasco, Inc. (AMEX:TGC) announced today that in December 2005 and
the quarter ending December 31, 2005 the Company produced more oil
from its Kansas properties both in a single month and in a calendar
quarter than it produced in any similar period since 1997. The
Company's gross production for the month of December 2005 of 15,023
barrels was the largest since mid-1997. The Company's net interest
in December 2005 production was 10,825 barrels. The gross
production in the fourth quarter of 2005 of 39,690 barrels was the
largest since the fourth quarter of 1997, which was in the first
year of production after Tengasco purchased its Kansas properties.
The Company's net interest in Kansas oil production in the quarter
ending December 31, 2005 was 28,599 barrels. Tengasco's CEO Jeffrey
R. Bailey said: "Tengasco's efforts to increase total oil
production and re-energize our core assets are proving successful.
This is a result of both our ongoing workover program and new
drilling. We are optimistic that the strategies we have applied
will continue to boost production and improve the Company's oil
reserves. We are acquiring new acreage, focusing on finishing the
Company's eight and twelve well drilling programs as soon as
possible, and positioning the Company for long term production
growth and reserve building. That strategy also requires a dynamic
exploration and development team. Tengasco is happy to announce the
addition of Rod Tremblay as Senior Geologist to lead our growth
efforts in Kansas." Mr. Tremblay earned a B.S. degree in Geology
from Fort Hays State University in 1981 and in 1990 earned an M.S.
degree in Geology. He was employed as a staff geologist by the
Roxanna Corporation from 1981 until 1984. He started his own
consulting firm and oil and gas firm in 1984 and continued in that
capacity until 1991. Since 1991, he has been a geologist in the
Mid-Continent and Rocky Mountain regions, except for a brief stint
in Nevada with the U.S. Geological Survey on the Yucca Mountain
Project. He is also an adjunct professor with the University of
Nebraska, Geological Survey. Mr. Tremblay joined the Company in
November, 2005. The Company intends to file its Annual Report on
Form 10-K for the year ended December 31, 2005 together with the
Company's audited financial statements for that period in March
2006. 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 as well as risks of downturns in economic
conditions generally, and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission.
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