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 OF SECURITIES 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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(Print or Type Responses)

1. Name and Address of Reporting Person * BAILEY JEFFREY R   2. Issuer Name and Ticker or Trading Symbol TENGASCO INC [TGC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO (Last) (First) (Middle) 11121 KINGSTON PIKE SUITE E 3. Date of Earliest Transaction (Month/Day/Year) 04/19/2010 (Street) KNOXVILLE, TN 37934 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 04/19/2010   M(1)   613,207 (2) A (2) 749,494 D

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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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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 (Month/Day/Year)

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

Stock Appreciation Right

$ 0.27

04/19/2010

M(1)

1

04/08/2010

04/20/2010

Common Stock

1,250,000

$ 0

0

D

Option Right to buy (3)

$ 0.58

01/20/2006

J

1

01/20/2006

01/20/2011

Common Stock

20,000

$ 0

1

D

Option Right to Buy (3)

$ 0.81

12/14/2006

J

1

12/14/2006

12/13/2011

Common Stock

20,000

$ 0

1

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BAILEY JEFFREY R 11121 KINGSTON PIKE SUITE E KNOXVILLE, TN 37934	X		CEO

Signatures

s/Jeffrey R. Bailey		04/21/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Exercise of Stock Appreciation Rights granted under Tengasco, Inc. Stock Incentive Plan.
(2)	Shares acquired pursuant to exercise of 1,250,000 Stock Appreciation Rights ("SARs") granted under the Tengasco, Inc. Stock Incentive Plan. The SARs were paid in common stock of the Company and the number of shares issued was determined by subtracting the exercise price ($0.27) from the closing market prie as listed on the NYSE Amex on the exercise date ($0.53) and multiplying by number of shares underlying the SARs grant (1,250,000) and dividing that product by the closing market price of ($0.53).
(3)	Grant of option pursuant to the Tengasco, Inc. Stock Incentive Plan.

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